The U.S. Treasury plans to extend its buyback program to additional $26 billion of outstanding debt, predominantly longer-maturity notes and bonds. … READ MORE >
Economics
Market Minute: U.S. oil producers facing headwinds as global supply grows
The futures prices of the benchmark West Texas Intermediate have fallen below $61 per barrel over the next 12 months on news that OPEC+ intends to increase production. … READ MORE >
Canada’s economy in sore need of an interest rate cut as job losses mount
Canada’s economy lost jobs in back-to-back months for the first time since 2021, pushing the odds of an interest rate cut this month significantly higher. … READ MORE >
Labor market loses steam as hiring rises by 22,000 in August
The slow hire, slow fire economy remained intact in August as the demand for new workers continued to sag, resulting in the creation of 22,000 jobs. … READ MORE >
Market Minute: The declining labor supply, the jobless rate and Fed policy
If the labor force participation rate had held at its 2023-24 average of 62.6% and all else remained the same, the unemployment rate would be sitting near 4.85% compared with the current 4.24%. … READ MORE >
Market Minute: U.S. August jobs report to show mild gain of 45,000
We anticipate that the unemployment rate will climb to 4.3% while average hourly earnings will advance by 0.3% on the month. … READ MORE >
Job openings slow further as labor market reaches its target
July’s data on job openings, quits and layoffs reaffirmed that the Federal Reserve is at its target when it comes to the employment mandate. … READ MORE >
Market Minute: Investors demanding rising compensation on long-dated government debt
Even as central banks cut policy rates and push rates down at the front end of the curve, investors are demanding a greater premium for holding longer-dated debt. … READ MORE >
Manufacturing sector contracts for sixth month in a row
After three years from 2022 to 2024 of significant increases in construction spending as a result of the Chips and Science Act, it has been downhill for new construction spending. … READ MORE >
Inflation’s persistence, the Fed and expansionary fiscal policy
With inflation well above the Federal Reserve’s 2% target and rising, and expansionary fiscal policies about to kick in, calls for rate cuts may be premature. … READ MORE >