In this Insight, we review the performance and rationale for our current set of tactical fixed income trade recommendations. Our highest conviction positions also happen to be our most successful trades: positioning for a narrowing…
Labor markets are softening in most developed economies, as is usually the case in the lead-up to recessions. Our base case is that the global recession will begin in the second half of 2024, but we will be monitoring our MacroQuant…
The economies of Canada and Australia share many similarities. Both nations are major commodity exporters, but with overvalued housing markets and highly indebted consumers. Lately, however, a notable gap has appeared…
As expected, the Bank of Canada kept its target for the overnight rate unchanged at 5% for the second meeting in a row on Wednesday. The Bank cited clear evidence of the impact of elevated interest rates on demand —…
In this insight, we look at whether the recent data justifies a shift by the BoC, and some potential trades.
In this insight, we look at whether the recent data justifies a shift by the BoC, and some potential trades.
In this report, we present the quarterly review of the Global Fixed Income Strategy Model Bond Portfolio. The portfolio remains positioned for slower global growth momentum over the next 6-12 months, favoring government bonds over…
Results of the Banks of Canada’s Q3 business and consumer surveys reveal that the aggressive tightening cycle is dampening economic agents’ sentiment. Putting aside the sharp decline at the onset of the pandemic in Q2…
