Notes From The Desk

Notes From the Desk - CAD Employment - A Fly in the Ointment   Governor Macklem and his BoC entourage must be befuddled this morning. More Canadians than expected landed jobs in August with...

Notes From the Desk - Bank of Canada – A Hawkish Hold   The Bank of Canada (BoC) opted to hold the overnight rate steady at 5% while continuing the process of reducing its balance sheet...

Notes From the Desk – Time To Chill   Officials at the Bank of Canada (BoC) and Federal Reserve (Fed) will head into the long weekend with less concern that inflation is running away from them...

Notes From The Desk – Jackson Hole   Fed Chair Jerome Powell mostly stayed on message but opined on recent data points. Notable Notes   Fed remains concerned about inflation...

Notes From the Desk - CAD CPI - An Unwelcome Surprise   The record-breaking heat in July (highest average global temperature ever recorded) spilled over into Canadian inflation, with CPI coming...

Notes from the Desk:  Today's Employment  Data - Searching for a One-Handed Economist   Anyone hoping today's job numbers would offer clarity on rate hikes would require Harry Truman's...

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...

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...

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...

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...

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...

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...