Canadian 5-Year Bond Yield Surges In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration’s $1.9 trillion stimulus package is has triggered…Read More
Longer-Term Yields are Rising Despite Central Bank Inaction While central banks hold overnight rates at record lows, anchoring short-term interest rates and the prime rate, mid-to-long-term government yields have been rising since early this month. As the chart below shows, the 5-year Government of Canada bond, upon which mortgage rates are generally tethered, are currently at…Read More
Housing Continued to Surge in January Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in January 2021. Canadian home sales increased 2.0% month-on-month (m-o-m) building on December’s 7.0% gain. On a year-over-year (y-o-y) basis, existing home sales surged 35.2%. As the chart below shows, January activity…Read More
Dominion Lending Centre’s chief economist Dr. Sherry Cooper says some economists may want to take into consideration one of the glaring weaknesses in Canada’s battle against COVID-19 before getting too ahead of themselves. “One of the biggest reasons [the Bank of Canada] can’t raise rates this year is the vaccine rollout debacle,” Cooper said. “There…Read More
Extended Lockdowns Batter Jobs Market This morning, Statistics Canada released the January 2021 Labour Force Survey showing the negative economic impact of extended lockdowns in Ontario and Quebec. The closing of all in-person dining, nonessential retail, recreational facilities and personal care services in these provinces and Alberta and Manitoba took its toll on the labour markets….Read More
Dominion Lending Centres is celebrating an incredible milestone… 15 years in business as of January 6, 2021! In honor of this anniversary, they have put together a commemoration video with comments from employees and partners across the country – myself included. Click here to watch now!Read More
The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its Quantitative Easing (QE) program–buying…Read More
2020 Was a Blockbuster Year for Housing Despite the fears leading into the pandemic last Spring, 2020 marked a record number of home resales as new listings lagged and prices climbed. December housing data released by the Canadian Real Estate Association (CREA) today shows national home sales surged 7.2% month-over-month (m-o-m) at a time of…Read More
Canadian Jobs Market Tanked in December Canadian employment fell 62,600 last month, a bit weaker than expected, following seven months of recovery (see chart below). The rapid rise in COVID cases and the ensuing lockdown measures in many key regions caused the net loss in jobs in the mid-December survey. Especially hard hit were workers at…Read More
Canadian Housing Remained Strong in November Today’s release of November housing data by the Canadian Real Estate Association (CREA) shows national home sales continued to run at historically strong levels last month. Competition among buyers remains intense in the detached-home market and townhouses. Still, condo apartment sales-relative-to-new-listings have slowed as new listings surged, especially in the City…Read More
Bank of Canada Confirms Commitment To Low Interest Rates Despite the good news on the vaccine front since the Governing Council’s last meeting in late October, the Bank of Canada reasserted its commitment to provide extraordinary monetary policy support for many months to come. The statement released today reiterated that the Bank will hold the…Read More
Canada’s Jobs Recovery Slowed Again in November With Second Wave The November Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 62,000 compared to 83,600 in October–well below the 378,000 gain in September. This was the weakest job growth in the past six months since the economic recovery began (see…Read More
Rebounding Q3 Canadian Economy Stalls in Q4 The Canadian economy rebounded sharply in the third quarter, posting its most rapid expansion ever. Still, it was a lower than expected gain, and early data show that momentum is quickly fading in the face of a second wave of the pandemic. Gross domestic product rose by a massive…Read More
Federal Fiscal Update–Finance Minister Freeland’s Debut Justin Trudeau’s government, which has delivered the biggest COVID-19 fiscal response in the industrialized world, announced plans for another dose of stimulus and vowed to continue priming the pump as long as needed. Finance Minister Chrystia Freeland unveiled $51.7 billion of new spending over two years in a mini-budget Monday, led…Read More
Canadian October Home Sales Slipped for the First Time Since April Today’s release of October housing data by the Canadian Real Estate Association (CREA) shows national home sales fell 0.7% month-over-month (m-o-m) from September’s record high (see chart below). This is the first decline in five months, as market conditions remained tight and prices continued…Read More
Canada’s Jobs Recovery Slowed in October With New Pandemic Restrictions The October Labour Force Survey, released this morning by Stats Canada, showed an employment increase of 83,600–well below the 378,000 gain in September and average monthly gains of 395,000 over the past six months (see chart below). Several provinces tightened public health restrictions last month…Read More
The Bank of Canada’s commitment to prolonged record-low rates is more than justified considering that the reopened economy ended up being strong but uneven, according to Sherry Cooper, chief economist at Dominion Lending Centres. “Growth is estimated to have rebounded strongly in the third quarter, reversing about two-thirds of the decline observed in the first half of…Read More
Bank of Canada Recalibrates Quantitative Easing As expected, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will continue to rely on large-scale asset purchases–quantitative easing (QE). The central bank is recalibrating its QE…Read More
Bank of Canada Will Stop Buying Canada Mortgage Bonds This Wednesday, the Bank of Canada will release its interest rate announcement and the October Monetary Policy Report. Most people expect the overnight rate to remain at 0.25%, where it has been since the pandemic hit. A few have suggested that the Bank could take a page from…Read More
Canadian Home Sales and Prices Set Another Record High in September Today’s release of September housing data by the Canadian Real Estate Association (CREA) shows national home sales rose 0.9% on a month-over-month (m-o-m) (see chart below). This continues the rebound in housing that began five months ago amid record-tight market conditions. “Along with historic…Read More
Sherry Cooper P.H.D
22nd Jan 2021
In Conversation with Dr. Sherry Cooper
In case you missed the latest In Conversation with Dr. Sherry Cooper and Dominion Lending Centres President, Eddy Cocciollo, you can click here to watch it now to get up-to-date on the economy, housing, job market and COVID-19 vaccine rollout.Download Presentation
22nd Jan 2020
Water Club Longboat
7th Nov 2019
DLC Thrive Presentation
Sherry Cooper P.H.D
Dr. Sherry Cooper is a sought-after speaker, writer and advisor renowned for her ability to simplify and de-mystify the complex subjects of economics and finance.
Dr. Cooper is Chief Economist of Dominion Lending Centres. Canada’s leading mortgage and leasing company with more than 2,600 members offering free expert advice across Canada. In this role, Sherry helps Canadians understand the issues surrounding their most important financial decision – buying a home.
Named “the megawatt celebrity economist” by Canada’s national newspaper –and repeatedly cited as one of the most influential women in Canada, Sherry served as Chief Economist and Executive Vice-President of BMO Financial Group where she was responsible for global economic and financial forecasting as well as country-risk and industry-risk analysis. She joined BMO Financial Group in 1994 when it acquired Burns Fry, where she had been Chief Economist, Co-Head of Fixed Income and the first female director of a Bay Street investment firm.
Well-known as a media commentator, Sherry’s third book – The New Retirement: How It Will Change Our Future – was a block-buster best-seller.
Dr. Cooper has an M.A. and Ph.D. in Economics from the University of Pittsburgh. She began her career at the Federal Reserve Board in Washington, D.C. where she worked very closely with then-Chairman, Paul Volcker and subsequently joined the Federal National Mortgage Association (Fannie Mae) as Director of Financial Economics.
BOOKS BY DR SHERRY COOPER
The Cooper Files
Never before in history has change been so rapid or so pervasive. We are in the early stages of a technology revolution that is changing the way we communicate, live, work, play and do business. What is Canada’s role in this transforming economy? How can Canadians prepare and profit from such change? Sherry Cooper provides…
Ride The Wave
In Ride the Wave, Dr. Sherry Cooper, global economic stregist, regular CNBC guest, and former Fed economist, shows how yesterday’s predictable business cycles have been replaced with a spiraling, unending rollercoaster. Yes, says Cooper, we are in the early stages of an “upwave.” In 20 years, the world will be a far wealthier place. But…
The New Retirement
How It Will Change Our Future In The New Retirement, global economic strategist Sherry Cooper explains that the boomer generation will be reaching traditional retirement age very soon and that an enormous wave of boomer retirees will crest in 2025. This phenomenon will profoundly affect the labour markets, the economy, and financial markets for decades….
If you would like to book Dr Sherry Cooper to make a presentation or have any other questions please use the form below to send her an email.