Feb 3, 2023 | Notes from the Desk
Notes from the Desk – US Payrolls – Holy Crap! By the numbers. Today’s US payrolls blew the doors off. The economy produced 517k jobs last month, more than double the 185k forecast. The unemployment rate fell to 3.4% vs. forecasts of a small rise to 3.6%....Jan 30, 2023 | Notes from the Desk
Notes from the Desk – Bank of Canada: This is the End. To quote the Doors, ‘this is the end, beautiful friend…the end.’ At least for now. After delivering a 25 bps hike and bringing the overnight rate to 4.5%, the Bank of Canada (BoC) expects to hold here as it...Jan 12, 2023 | Notes from the Desk
Notes from the Desk: US Inflation – A Sigh of Relief US CPI was bang on the consensus forecast: YoY Headline Inflation: 6.5% (previous 7.1%) YoY Core Inflation: 5.7% (previous 6%) Goods prices continue to fall while upward pressure is prevalent in the service...Dec 21, 2022 | Notes from the Desk
Notes from the Desk – CAD CPI – Still High But Heading in the Right Direction. By the numbers. November CPI came in at 6.8%, lower than last month’s 6.9% print, but higher than the 6.7% forecast. Lower gasoline and furniture costs were offset by higher shelter...Dec 15, 2022 | Notes from the Desk
Notes from the Desk – Federal Reserve – Reading the Tea Leaves What they did. As expected, the Federal Reserve (Fed) raised rates 50bps, bringing the band for the Funds rate to 4.25%-4.5% What they said. Surprisingly, the Fed did not put much...Dec 13, 2022 | Notes from the Desk
Notes from the Desk | US CPI – Heading in the Right Direction US CPI decelerated by more than forecast as the recent drop in energy prices offset higher food costs. YoY CPI – 7.1% vs 7.3% expected YoY core CPI – 6% vs 6.1% expected Implications: With...
