May income, spending and inflation data points toward a consumer adjusting to a more challenging economic environment and should dampen talk of a rate cut by the Federal Reserve in July or September. … READ MORE >
Blog
Market Minute: The perils of appointing a shadow Fed chair
Such an appointment would cut against the grain of Fed independence and its institutional credibility developed over the past half century. … READ MORE >
Mixed economic data points to bumpy road ahead
Looking forward, expect more volatility in June from geopolitical tensions and in July when the tariff pause expires. … READ MORE >
Health care industry trend watch: Week of June 23, 2025
The Senate’s version of the One Big Beautiful Bill Act has cleared a significant hurdle, but not without substantial changes that are sending concerns through the health care industry. … READ MORE >
Market Minute: Dollar depreciation disrupts its safe-haven status
The American dollar has depreciated against all 14 major trading currencies as investors diversify away from risk associated with dollar-denominated assets. … READ MORE >
Multifamily starts dive 30%: Short pause or longer opportunity?
The U.S. multifamily construction sector witnessed a staggering 30% decline in starts in May, falling to 316,000 units, the lowest start rate for buildings over five units since November 2024. However, while the 30% decline grabs headlines, it may not fully reflect the market’s underlying health. … READ MORE >
Market Minute: In financial conditions, it’s as if nothing happened
The rebound in equities suggests that investors have shrugged off tariffs, and it is as if the Middle East conflict never really happened. … READ MORE >
Canada’s consumer price index steady due to cooling housing market
Canada’s consumer price index rose 1.7 per cent in May thanks to a more balanced housing market and smaller increases in travel prices. … READ MORE >
Market Minute: Why are mortgages so expensive?
Mortgage rates have retreated somewhat since their 2023 peak but remain higher than what we would normally expect. … READ MORE >
Market Minute: Supply shocks and inflation expectations
The escalation of hostilities in the Middle East over the weekend could very well be the next step in a broader global supply shock. … READ MORE >