According to our analysis of revised BEA data, consumers are on a strong footing, with between $400 billion and $1.3 trillion in excess savings that they can draw upon as the economy moves back toward price stability. … READ MORE >
Economics
Canada has an acute shortage of housing. Easing regulations would help solve that.
Canada’s housing crisis keeps getting worse. The latest Housing Supply Report by the Canada Mortgage and Housing Corporation concluded that the level of new construction is too low to address the long-term housing supply gap. The housing supply grew by only 1% in the first half of this year, according … … READ MORE >
Oil price increase to exert limited impact following attack on Israel
Oil prices surged following the surprise attack by Hamas on Israel and Israel’s counterstrike over the weekend. After a knee-jerk reaction upon the open of trading around the world, prices have been well behaved and should abate as the shock of the attack, as deadly as it is, abates. It … … READ MORE >
The great rate reset: The end of easy money, rising yields and the onset of a new era
For the first time in years, the risk premium has been positive, which is an important signal that interest rates are indeed returning to normal. … READ MORE >
Canada’s job market remains resilient, adding 64,000 jobs
The Canadian economy remained resilient in September, adding 64,000 jobs as the unemployment rate was unchanged at 5.5%. … READ MORE >
Blowout employment report is a win for the American real economy
The American economy added 336,000 jobs in September, far above forecasts and showing that the labor market has yet to ease. … READ MORE >
Initial jobless claims tick up in a still-tight labor market
New filings rose 2,000 to 207,000 for the week ending Sept. 30, lower than the median forecasts of 210,000. … READ MORE >
Chart of the Day: Falling oil and gas demand implies inflation relief
Falling wholesale gasoline prices imply a decline of 12% in retail gasoline prices in the coming weeks from its current level of $3.79 to roughly $3.34 per gallon. … READ MORE >
Service sector extends growth in September
The overall service index eased to 53.6 from 54.5 in August, above the 49.9 threshold that indicates expansion. … READ MORE >
Job openings surge unexpectedly in August
Job openings defied expectations in August, rising to 9.6 million, mostly from a sharp increase of 409,000 in professional and business services. … READ MORE >