Month: February 2021
February 26, 2021
Category: About Sherry Articles Media Reporting on Sherry
Interest Rates & Commodity Prices Surge On Economic Rebound Optimism
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…
February 23, 2021
Category: About Sherry Articles Media Reporting on Sherry
Market Interest Rates are Rising Almost Everywhere
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…
February 16, 2021
Category: About Sherry Articles Media Reporting on Sherry
Canadian Home Sales Hit An All-Time Record High in January
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…
February 5, 2021
Category: About Sherry Articles Media Reporting on Sherry
Why all the talk around rising interest rates in Canada?
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…
February 5, 2021
Category: About Sherry Articles Media Reporting on Sherry
Canadian Employment Falls to Lowest Level Since August
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….