Notes from the Desk

Feb 16, 2022

Canadian Inflation – Seals The Deal CAD CPI exceeded forecasts as price pressures are spreading across the economy. · Headline CPI came in at 5.1% (4.8% expected) · Core was 3.3% (3.1% expected) A...

Feb 7, 2022

Canadians & US Employment Update Today’s employment data demonstrates the stark differences in the response to Omicron between the US and Canada. US Employment numbers far exceed expectations: ·...

Jan 26, 2022

Canadian Inflation & The World Wide Web Canadian CPI clocked in at 4.8% for 2021. The last time it was this high was 1991, the year the internet was made available to the public. While life...

Jan 26, 2022

Today’s business outlook survey confirmed that the Canadian economy is at full capacity: · 77% of firms plan on hiring in 2022 · 78% of firms report difficulty in meeting unexpected demand ·...

Jan 26, 2022

US Inflation: When you’re hot. You’re hot. · December inflation 7% with core at 5.5% · Yesterday, Fed Chair Powell told Congress that it made sense to raise rates sooner to prevent inflation...

Jan 26, 2022

December Employment Data Summary Today’s Canadian and US employment data indicates that both countries were close to full employment before the Omicron Surge. USD · 199k jobs created versus the...

Jan 26, 2022

In the land of the bald eagle, the hawks have begun to emerge. · With inflation showing little signs of slowing down, the Federal Reserve has sent a strong signal that they are taking the...

Jan 26, 2022

Canadian Inflation Update Today’s CAD CPI data was a non-event in terms of monetary policy. · The headline number of 4.7% was bang on expectations. · In our opinion, the Bank of Canada remains on...

Jan 26, 2022

Back to the Future: US Inflation from hot to red hot · US headline inflation came in at 6.8% and core at 4.9%. · While these numbers are multi-decade highs, they are in line with the consensus...

Jan 26, 2022

Rogers Launching First Telco Hybrid Deal Rogers Communications is ‘making more possible’ by launching their first hybrid bond, a halfway house between debt and equity. This should help them...

Jan 26, 2022

There is no stopping the Canadian job machine. With several pandemic unemployment support programs ending in October, it appears people decided to take up many of the jobs on offer: · 153.7k jobs...

Jan 26, 2022

Four More Years. Biden nominates Jay Powell for a second term. · Jay Powell to serve a second term as chair of the Federal Reserve. · Lael Brainard, considered the competitor to the throne...