Manufacturing sentiment contracted for the fourth month in a row with tariffs being the primary concern among businesses. … READ MORE >
Economics
Market Minute: U.S. June jobs report preview
We forecast an increase of 100,000 in nonfarm payrolls when the report for June is released on Thursday, down from 139,000 in May, and an increase to 4.3% in the unemployment rate. … READ MORE >
Market Minute: Demographics of the foreign-born labor force
Last year, foreign-born workers accounted for 19.2% of the U.S. civilian labor force, up from 18.6% in 2023, according to the Bureau of Labor Statistics. … READ MORE >
Cooler spending and inflation data reflect slowing economy
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 >
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 >
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 >
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 >