Highlights Global Tapering: The Bank of England has joined the Bank of Canada as central banks tapering the pace of bond buying. Markets are now trying to sort out who is next and concluding that it will not be the Federal Reserve,…
Highlights Developed economies continue to transition towards a post-pandemic state. Europe has further to go, but it is lagging the US at a constant rate and is thus merely delayed – not on a different path. This ongoing…
The Bank of Canada’s big moment arrived. Starting next week, the central bank will reduce weekly government debt purchases to C$3 billion/week from C$4 billion/week. The tapering decision comes on the back of a significant…
This is an important week for Canadian financial markets, full of implications for the future path of economic growth, monetary policy, interest rates and the currency. The week started off with a booming data point. Canadian…
Highlights Chart of the WeekThe Bond Bear Mantle Being Passed To Canada? US Treasuries: The steady climb of US bond yields has left longer-maturity Treasuries in an oversold position. However, underlying growth and inflation…
Highlights There are tentative signs that US growth outperformance is ebbing. The recovery in the manufacturing sector abroad is already taking leadership from the US. This trend will soon rotate to the service sector. As such, long-…