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Which mortgage term will save you money over the next five years? A significant “negative shock” to the economy: That’s what it’s going to take to lower interest rates again, says Canada’s most powerful banker. And Bank of Canada head Stephen Poloz isn’t betting on that happening any time soon. Neither are bond traders, the big guns …
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HIGHLIGHTS OF THE WEEK United States• Indicators this week continued to suggest a strong expansion in economic activity in the U.S. last quarter.The strength in retail sales through June supports growth of 2.5% for the second quarter, and, togetherwith strong job and wage gains, suggests a strong hand-off to third quarter growth.• Global uncertainty diminished …
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HIGHLIGHTS OF THE WEEK – July 11United States• As financial markets continue to digest the outcome of Britain’s referendum decision to leave the EU,attention this week turned to the American economy where data were generally upbeat.• ISM indexes for both the manufacturing and non-manufacturing sectors showed activity picked up in June.This news, however, paled in …
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HIGHLIGHTS OF THE WEEK – July 4 United States• Some stability has returned to financial markets this week, following post-Brexit selloff. Volatility has subsidedand equities rallied, with the S&P 500 erasing much of its Brexit-related losses.• Economic data were also encouraging. Personal spending rose by a solid 0.4% m/m in May, coming onthe heels of …
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Q2 2016 Bank Earnings – Mortgage Morsels Canada’s Big 6 banks have wrapped up another earnings season, raking in more than $8.5 billion in the second quarter. Among the highlights: Most of the banks anticipated losses from the Fort McMurray wildfire, but nothing headline-making. Scotia and TD both reported small declines in their residential mortgage …
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HIGHLIGHTS OF THE WEEK – June 27United States• Markets were on tenterhooks all week in anticipation of the British referendum, with anxiety turning topanic overnight as Britain, in a historic vote, decided to leave the European Union (EU).• Central banks announced readiness to deal with any fallout related to potential liquidity shortages, helpingstem near-term pressures …
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