Dec 6, 2024 | Notes from the Desk
Today’s employment data confirms that economic conditions between Canada and the US continue to diverge. The numbers. US 227k jobs created (220k expected). Unemployment rate: 4.2% (4.1% expected). YoY earnings growth: 4% (3.9% expected). Canada 5k jobs created...Nov 29, 2024 | Notes from the Desk
This morning, all eyes were on GDP to hint at what the Bank of Canada (BoC) will do at their December 11th meeting. The numbers. Q3 GDP: 1.0% (vs. 1.1% expected). September MoM GDP: 0.1% (vs. 0.3%). October Advanced Estimate: 0.1%. GDP YoY: 1.6%, as expected. ...Nov 19, 2024 | Notes from the Desk
Inflation rose slightly in October, with headline CPI at 2%. But this probably does very little to influence the Bank of Canada’s (BoC) decision in December. The numbers. YoY CPI: 2% (1.9% expected) YoY CPI Median: 2.5% (2.3% expected) YoY CPI Trim: 2.6% (2.4%...Nov 8, 2024 | Notes from the Desk
Domestic employment growth was humdrum in October. The numbers. 14.7k jobs created (27k expected) The mix was slightly favourable, with 25.6k full-time positions generated versus 11.2k part-time jobs lost. The unemployment rate held steady at 6.5% (6.6%...Nov 8, 2024 | Notes from the Desk
The Americans had one unanimous vote this week, with all members of the Federal Reserve Committee agreeing to deliver a 25 bps cut, reducing the target range for the Fed Funds Rate to 4.5-4.75%. As this was widely expected, the market focused on the...Oct 28, 2024 | Notes from the Desk
This morning, the Bank of Canada (BoC) reduced the overnight rate by 50 bps to 3.75%. Since June, the BoC has lowered the policy rate by 1.25%. The takeaways: With inflation falling to the 2% target range, the BoC’s rationale for a 50 bps cut was to...
