Tuesday’s release of Canadian CPI in August raised concerns that inflationary pressures are picking up again. Headline CPI inflation rose from 3.3% y/y to 4.0% y/y – above expectations of 3.8% y/y and marking the…
As expected, the Bank of Canada kept its policy rate unchanged at 5% on Wednesday. In particular, the central bank highlighted that domestic economic growth deteriorated. Indeed, last week’s GDP release showed the…
In this report, we assess the best opportunities in inflation-linked bonds in the major developed economies, based on trends in growth, inflation and the stance of monetary policies in each country. We conclude that the environment…
The DXY will continue to have near-term upside, as economic growth holds up in the US, while it deteriorates in other parts of the world. Remain constructive on the DXY at current levels, but pivot to a short position on evidence US…
In this report, we present our performance review of the BCA Research Global Fixed Income Strategy (GFIS) model bond portfolio for the Q2/2023, and the outlook and scenario analysis for the next six months. The portfolio return…
Canada’s CPI release showed headline CPI inflation cooled from 3.4% y/y to 2.8% in June – below estimates calling for a less pronounced moderation to 3.0% y/y. This marks inflation’s first return to the Bank of…
China’s slowdown confirms BCA’s Geopolitical Strategists’ view that persisting structural challenges would cause China’s economic reopening to disappoint (see The Numbers). In this context, Canada and…
As expected, the Bank of Canada raised interest rates for the second consecutive month after restarting its tightening campaign last month. At 5.0%, the policy rate now stands 4.75 percentage points above where it was at the…
Canadian hiring surprised to the upside in June. The 60 thousand increase in employment last month – the highest since January – came in triple expectations of a 20 thousand rise and follows a 17 thousand decline in…