Aug 2, 2023 | Notes from the Desk
Notes from the Desk: US Treasuries – The Trifecta of Pain The last few days have not been kind to holders of US treasuries, with yields rising and the curve steepening. One. The first surprise was the Bank of Japan (BoJ) making an unexpected change to...Jul 26, 2023 | Notes from the Desk
Notes From the Desk: FOMC Meeting – A Tweak Away As widely expected, the Federal Reserve (Fed) hiked 25bps, bringing the fed funds into a range of 5.25-5.5%. The press release was almost a carbon copy of the one issued at the last meeting, suggesting...Jul 12, 2023 | Notes from the Desk
Notes From the Desk: Two for One Special – Bank of Canada and US CPI Bank of Canada Rate Announcement. The Bank of Canada (BoC) raised the overnight by 25 bps, bringing it to 5%. The Bank pointed to evidence of persistence in excess demand and...Jul 7, 2023 | Notes from the Desk
Notes From the Desk: Today’s Employment Data – Sealing the Deal Canadian and US employment data for June was released this morning, confirming the resiliency of labour markets despite higher interest rates. By the numbers. Canada 59.9k jobs...Jun 15, 2023 | Notes from the Desk
Notes From The Desk: FOMC Meeting – A Hawkish Pause The FOMC chose to exercise patience today by holding rates steady but raised the terminal rate’s median projection to 5.6%, indicating the need for 50bps of hikes in the coming months. Connecting...Jun 13, 2023 | Notes from the Desk
Notes From the Desk – US Inflation – Is It Slow Enough? The last data point before tomorrow’s Federal Reserve (Fed) dropped this morning. The numbers. YoY headline CPI 4% (Consensus estimate 4.1%) YoY core CPI 5.3% (Consensus estimate 5.2%) ...
