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カナダ

The Bank of Canada held rates at 2.75% but signaled a dovish shift, pushing us to overweight Canadian government bonds and go long CORRA futures. The policy rate remains within the BoC’s neutral range, allowing the Bank to wait for more clarity on trade…

The Bank of Canada may be on hold for now, but deflationary risks are rising fast. Find out why rate cuts may come sooner than markets expect.

Although Canada’s headline CPI slowed to 1.7% y/y from 2.3% on Tuesday, most measures of underlying inflation surprised to the upside, thus raising the likelihood that the Bank of Canada (BoC) will stay put at its next meeting in three weeks. The…

The easing bias remains, but not all central banks are equal. This Central Bank Monitor update reveals who is ready to cut more and who is still pretending not to.

Soft April jobs confirm the Canadian labor market stall, yet we remain neutral on CGBs and structurally bullish on the CAD. The unemployment rate rose more than expected to 6.9% from 6.7%. Employment growth exceeded expectations but remains soft at 7.4k after…
The Carney-Trump summit signals an early shift toward trade de-escalation, creating a tactical tailwind for risk assets. President Trump referred to the Canada-US relationship as a “wonderful marriage.” Moreover, both leaders acknowledged that the USMCA is “a…
特別レポート

The US and Canada will resolve their trade dispute quickly, leading to a North American deal and better prospects for future relations, as well as for other US trade deals around the world. But even as tariff threats decline, the US economy will slow, weighing on its neighbors. Canada will fare better than Mexico.

Canada’s election outcome and macro backdrop support our neutral stance on CGBs and long CAD/USD structural positioning. Mark Carney’s Liberals retained power in Monday’s federal election and are likely to form a minority government. The campaign centered on…

US Treasuries typically outperform both equities and global government bonds during downturns. Recent political shifts could lessen that outperformance this cycle, but we doubt it will disappear completely.

This week, our three screeners cover equity plays in: Canadian Consumer Staples, high-beta Swedish equities, and factor plays across global equities.