September 22, 2023
Bond Market Crushing Soft Landing Hopes
Canada CPI comes in hot. Bond yields ripping higher over inflation concerns. Oil continues to push higher which will act as a hard brake on the economy. Powell dismesses the base case for a soft landing. The Bank of England moves to the sidelines. Airlines in the eye of the…
September 15, 2023
Interest Rates at These Levels Will Break Things – w/ guest Ben Rabidoux
We are joined this week by Canadian credit and housing analyst Ben Rabidoux. Insolvencies are ratcheting higher, the pre-sale market remains the biggest vulnerability. Mortgage rates are starting to break household balance sheets. Immigration is out of control. Canada apartment rents are still rising. The ECB hikes rates. US inflation…
September 8, 2023
Has the Recession Already Started in Canada
The Bank of Canada holds interest rates. Q2 GDP unexpectedly contracts, defying Bank of Canada Forecasts. Higher mortgage rates are starting to hit households hard. China & Germany have hit the brakes hard. The ECB could shift to the sidelines. US apartment rents are likely to contract in September, with…
September 1, 2023
Provincial Governments Urge Bank of Canada to Stop Rate Hikes
Canadian banks report rising loan loss provisions. The Federal Government admits to undercounting non-permanent resident growth by a million people. The BC government pleads with the Bank of Canasda ahead of September 06 meeting. The US labout market shows signs of softening.
August 25, 2023
Are There Still Issues Brewing Inside the Banks
The Federal Government is back from their housing retreat with no real changes other than a further review into foreign student loopholes. Regional bank stocks are tumbling once again. Jackson Hole, hawkish fed? Fixed mortgage rates back on the climb again.
August 18, 2023
Inflation Bounces Higher as Global Bond Yields Hit 15 Year High
Inflation in Canada jumped well above expectations in July, hitting 3.3%. Markets are now expecting no landing, pushing global bond yields to a 15 year high. The Panda in the room is only growing larger as the Chinese property market reaches a tipping point. Provinicial governments fight back on a…
August 11, 2023
Prices are Contracting in the World’s Second Largest Economy
Consumer and producer prices in China are now outright contracting on an annual basis. US CPI inflation is nearly back on target, but how do you factor in base effects and lagging shelter prices? The largest retailer in Canada delviers ominous warning about the shape of Canadian households.
August 4, 2023
Are we in the early stages of a Soveriegn Debt Crisis? – w/ guest Brent Johnson
Markets are shorting the USD at a record pace and that could backfire very soon. Our special guest Brent Johnson views the USD as the ultimate flight to safety and thinks that need for safety could return as volatility reupts in global bond markets. Troubles are brewing in China and…
July 28, 2023
Surging Interest Rates Set to Squeeze Canadian Households Further
Interest rates are rising once again as economic growth remains resilient for now. The Fed and ECB raise rates once again. The federal government has a new housing minister.