Sep 19, 2024 | Notes from the Desk
The FOMC kicked off the easing cycle with a 50 bps reduction in the ‘Fed Funds’ rate. Although several cuts are clearly coming, the FOMC did not express a sense of urgency. The interesting bits: With one dissenter and 9 out of 19 members seeing a total...Sep 6, 2024 | Notes from the Desk
Today’s payroll data confirms that job growth is slowing, opening the door for further central bank accommodation. The numbers: US 142k jobs created (165k expected). Unemployment rate: 4.2% (4.3% expected). YoY wage growth: 3.8% (3.7% expected)....Sep 5, 2024 | Notes from the Desk
Today’s announcement provided little excitement, as the BoC did the expected and lowered the overnight rate by 25 bps to 4.25% The interesting bits: The Bank pointed out that broad inflationary pressures continue to ease, although shelter and some...Aug 20, 2024 | Notes from the Desk
Notes From the Desk: CAD July CPI – And The Trend Goes On. Canadian inflation continues to move towards the Bank of Canada’s 2% target. By The Numbers: YoY CPI 2.5% (2.5% expected), the lowest level in 3 years. YoY CPI Core Median – 2.4% (2.5%...Aug 9, 2024 | Notes from the Desk
Notes From the Desk – Canadian July Employment Data – Meh! Today’s employment data will do little to calm fears over the state of the labour market. The Numbers: Instead of creating an expected 20k jobs, the economy lost 2.8k positions. The mix...Aug 1, 2024 | Notes from the Desk
Notes From the Desk – FOMC Meeting – Laying The Groundwork As expected, the FOMC held both rates and the pace of balance sheet reduction steady but left little doubt that September is a ‘live’ meeting where the first rate cut could be delivered....
