Category Archives: bank of canada
Loonie Spikes After Canada’s Best First-Half Economic Growth In 15 Years
Thanks to a surge in government spending in Q2, Canada's GDP grew at 4.5% SAAR. This is the best growth since Q3 2011 and is the best growth of all G-7 nations in Q2. This is higher than the highest economist estimate… Bloomberg reports that Canada’s consumers, benefiting from a buoyant jobs market and rising […]
Toronto Housing Market Implodes: Prices Plunge Most On Record
Until mid 2017, it appeared that nothing could stop the Toronto home price juggernaut: And yet, In early May we wrote that “The Toronto Housing Market Is About To Collapse“, when we showed the flood of new home listings that had hit the market the market, coupled with an extreme lack of affordability, which as […]
David Rosenberg: “This Is The Single Most Important Thing For The Market Over The Next Decade”
Several years ago, Gluskin Sheff’s superstar economist (previously at Merrill), David Rosenberg (in)famously flipped from bear to bull, predicting what amounts to a victory for the Fed: a jump in (wage) inflation, a burst in economic growth, and an overall selloff in that most deflation-dependent asset, the US Treasury. None of those happened, and while […]
Loonie Bulls? Sold To You!
Authored by Kevin Muir via The Macro Tourist blog, Remember back in May when all the hedge funds were short Canadian Dollars up the whazoo? At the time, I was worried the excessive pessimism might cause CAD to rally (Loonie Bears are the New Cool Kids). Well, since then, the Loonie has rallied 6.50% even […]
“Canada Is In Serious Trouble” Again, And This Time It’s For Real
Some time ago, Deutsche Bank’s chief international economist, Torsten Slok, presented several charts which showed that “Canada is in serious trouble” mostly as a result of its overreliance on its frothy, bubbly housing sector, but also due to the fact that unlike the US, the average household had failed to reduce its debt load in […]
“It’s Too Late” – 7 Signs Australia Can’t Avoid Economic Apocalypse
Authored by Joe Hildebrand and John Adams via News.com.au, AUSTRALIA has missed its chance to avoid a potential “economic apocalypse”, according to a former government guru who says that despite his warnings there are seven new signs we are too late to act. The former economics and policy adviser has identified seven ominous indicators that […]
Canadians Brace For A “Perfect Storm” Brewing In Housing Market
We’ve spent a fair amount of time discussing Canada’s housing market over the past several months as Chinese money laundering operations have sprouted up bubbles all over the place. Here’s a modest sampling of our recent work: All Hell Breaks Loose In Toronto’s House Price Bubble Canada’s Housing Bubble Explodes As Its Biggest Alternative Mortgage […]
CANADA: 2008 all over again?
A major issue arising in Canada hasn’t received too much attention lately. Year after year, quarter after quarter, the level of the household debt is increasing both in absolute and relative numbers: Source: tradingeconomics.com The net debt versus disposable income tells you the total amount of debt in a household versus that household income and […]
One Bank Reveals The “Three Big New Themes In Markets”
A lot changed over the past 4 days, starting with Draghi’s unexpectedly hawkish speech earlier this week (subsequent ECB clarification notwithstanding), followed by a barrage of hawkish Fed speakers – including Yellen – all of whom warned that risk assets are overvalued, then the heads of the BOE and BOC, who also came out surprisingly […]