The Bank of Canada cemented its position as one of the most hawkish major central banks on Wednesday by taking another step towards normalizing policy. Governor Tiff Macklem announced the central bank will reduce its weekly…
Canadian employment growth in June was robust at 231,000, a big improvement over the losses incurred over the prior two months. The latest month’s growth was driven mainly by a 264,000 increase in part-time jobs: full-time…
GFIS Model Bond Portfolio Q2/2021 Performance Review & Current Allocations: Hitting A Few Roadblocks
Highlights Q2/2021 Performance Breakdown: Our recommended model bond portfolio underperformed the custom benchmark index by -6bps during the second quarter of the year. Winners & Losers: The government bond side of the portfolio…
The Canadian economy is humming. The latest evidence came out of the most recent quarterly Business Outlook Survey, a key barometer of the Canadian economy for investors. The Business Outlook Survey indicator hit the…
The price of oil remains the biggest driver of USD/CAD, even if the relationship between the two assets is not as close as it once was. Crude and the USD still display a strong negative correlation. Oil is a very pro-cyclical…
Inflation in Canada rose to a decade high of 3.6% y/y in May from 3.4% y/y in the prior month. Statistics Canada’s various measures of core inflation – common, median, and trimmed mean – all accelerated,…
According to BCA Research’s Counterpoint service, the Canadian Dollar is set to weaken as the inflation bubble bursts. What caused the inflation bubble? The answer is that as industries reconfigured for the end of…
As expected, the Bank of Canada left policy unchanged at its Wednesday meeting and reiterated its message that a decision to taper asset purchases will depend on the “strength and durability of the recovery”. This…
Canada’s May Employment report missed expectations on Friday, sending a downbeat message about the labor market recovery. A net 68 thousand jobs were lost in May, which is more than the 25 thousand loss expected by the…