Highlights Global growth will remain above-trend in 2022, although with more divergence between regions than at any time during the pandemic (US strong, Europe steady, China slowing). Global inflation will transition from being driven…
As expected, the Bank of Canada kept interest rates unchanged at its Wednesday meeting and remains in the reinvestment phase to maintain its holdings of Canadian government bonds stable. The post-meeting statement acknowledged…
Canada’s labor force survey revealed that the pace of job gains slowed in October after employment returned to its pre-pandemic level in September. Employment increased by 31.2 thousand – below the anticipated 41.6…
The Bank of Canada delivered a hawkish surprise on Wednesday. It announced the end of its quantitative easing program. Instead it is shifting to the reinvestment phase whereby it will only purchase bonds to replace maturing ones…
Highlights Bank of Canada: Rising inflation, high capacity utilization, and monetary policy constraints will force the Bank of Canada to taper further and move up the timing of its first rate hike to H1/2022. Stay underweight Canadian…
Canadian CPI inflation came in at 4.4% year-over-year for September, blowing through analyst expectations and hitting an 18-year high. Meanwhile, the CPI-trim, a core measure which strips out extreme price movements, hit 3.4…
The Canadian economy is reaping the rewards of the country’s swift vaccination campaign. Employment rose by 157 thousand and reached its February 2020 pre-pandemic level in September. Importantly, the increase reflects a nearly…
Highlights Q3/2021 Performance Breakdown: Our recommended model bond portfolio outperformed the custom benchmark index by +8bps during the third quarter of the year. Winners & Losers: The government bond side of the portfolio…
Home prices around the world are continuing their march higher. Canada’s Teranet-National Bank Composite House Price Index accelerated to 18.4% y/y in August from 17.8%. Similarly, the UK’s Rightmove House Price index advanced 5.…