Multiple major DM central banks are scheduled to decide on monetary policy this week. The US Fed will meet on Wednesday, followed by the ECB, BoE, and Norges Bank on Thursday. It comes after the BoC and RBA both opted to keep…
The BoC kept its policy rate steady at 5% for the fourth consecutive meeting on Wednesday, in line with expectations. In its press release, the BoC maintained that it is ready to keep hiking if deemed necessary. That said, the…
Tuesday’s CPI release confirmed that the disinflationary trend in Canada remains intact. After a brief relapse this summer, Canada’s inflation is headed in the right direction. As anticipated, headline CPI inflation…
In this Insight, we review the performance and rationale for our current set of tactical fixed income trade recommendations. Our highest conviction positions also happen to be our most successful trades: positioning for a narrowing…
Labor markets are softening in most developed economies, as is usually the case in the lead-up to recessions. Our base case is that the global recession will begin in the second half of 2024, but we will be monitoring our MacroQuant…
The economies of Canada and Australia share many similarities. Both nations are major commodity exporters, but with overvalued housing markets and highly indebted consumers. Lately, however, a notable gap has appeared…
As expected, the Bank of Canada kept its target for the overnight rate unchanged at 5% for the second meeting in a row on Wednesday. The Bank cited clear evidence of the impact of elevated interest rates on demand —…
In this insight, we look at whether the recent data justifies a shift by the BoC, and some potential trades.