Canada has experienced tremendous success selling labor on opportunity. It’s not having nearly as much luck convincing investors of the same. That was the take from BMO Capital Markets, warning the TSX saw a record sell off from foreign investors. The institution warns this is just part of a larger issue of domestic and global […]
Canadian inflation data shows growth is slowing much faster than anticipated. Statistics Canada (Stat Can) released the Consumer Price Index (CPI) for January, showing annual growth slowed significantly more than the consensus forecast. Most of the remaining pressure driving inflation is being driven by mortgage interest costs. If excluded, like in many advanced economies, CPI […]
Debt-crazed Canadians may not be borrowing to buy a home, but they are borrowing—a lot. Bank of Canada (BoC) data reveals outstanding mortgage credit made a small climb in December, at an unusually slow pace. Mortgage debt is now growing at the slowest rate in over two decades, with home prices now firmly placed out […]
Canadian policymakers are sprinting across the country to rain cash to stimulate homebuilding. Unfortunately, it’s not working with new housing starts actually falling further from targets in January. BMO wrote to investors to explain this is predictable, since the targets were unrealistic and will never be hit. Partially due to the lack of resources available […]
Canada’s attempt to use helicopter money to stimulate building may have the opposite impact. Statistics Canada (Stat Can) building construction rose in December, which sounds like cause for celebration. However, when examined in real terms, it was the worst December in at least five years. Rising interest rates might be the first suspect that comes […]
Canadian real estate markets are seeing activity pick up, but don’t read too much into it. That was the general take from BMO, responding to CREA existing home data for January. Home sales picked up substantially, but the bank warns activity is rising from unusually low levels and winter data is volatile. In addition, the […]
Canadian real estate markets picked up at the end of the year, as cheaper mortgage debt appeared. Expect the opposite pressure over the next few days as Government of Canada (GoC) bond yields surge on strong inflation data. Reversing some of the ground made over the past few weeks, a sudden jump in yields is […]
Canada embarked on an ambitious mission to grow its economy using rapid population growth. After hitting unreal immigration targets they may have forgotten to plan one detail—what are people going to do when they get to Canada? That was the focus of the latest analysis from National Bank of Canada (NBF). The bank’s chief economist […]
The Canadian economy continues to defy gravity, at least from the view of headline data. Statistics Canada (Stat Can) released its latest Labor Force Survey (LFS) showing the unemployment rate fell in January. Experts warn it doesn’t tell the whole story, but it may be enough to drive expectations. If Canada continues to produce such […]
Canada’s central bank projected an “everything is under control” attitude at last month’s announcement. The Bank of Canada (BoC) governor even shifted the conversation from threatening rate hikes, to discussing when the next cuts are coming. All of that confidence was absent from the Governing Council’s summary of deliberations. The notes show the council is […]
