In this report, we follow up on the upgrade to our US duration stance from last week with a review of our rates views and government bond allocations outside the US. We conclude that while we now find US Treasuries to be more…
In this Month-In-Review report, we go over the latest G10 data releases and rank currencies’ fundamental standing based on our updated macroeconomic model.
Recent Canadian data releases have raised concerns that the Bank of Canada may abandon the conditional pause it first telegraphed following its last rate increase on January 25 in favor of more policy tightening. Headline CPI…
As expected, the Bank of Canada held the policy rate unchanged at 4.5% for the second consecutive time on Wednesday. In the Monetary Policy Report, the central bank revised up its GDP forecast for 2023 from 1.0% to 1.4%, but…
Results from the BoC’s Business Outlook and Consumer Expectations Surveys for Q1 2023 indicate that the tightening cycle is impacting the Canadian economy. The share of households reporting being financially worse off…
CAD/NOK tends to trade in perfect harmony with the DXY, but a divergence has emerged of late. For one, the selloff in the Norwegian krone versus the Canadian dollar has not been associated with a similar rise in the DXY. The…
The Bank of Canada’s summary of the discussions by Governing Council members ahead of its March 8 decision to stand pat produced a dovish signal on Wednesday. Although policymakers highlighted that “the economy…
Canada’s labor market has been surprisingly resilient over the past few months. Last Friday’s employment report showed a 21.8 thousand increase in jobs in February, more than double expectations of 10 thousand. This…