About Sherry
February 20, 2024
Category: About Sherry Articles Media Reporting on Sherry
Great News On The Inflation Front Cause Big Bond Rally
Canadian Inflation Falls to 2.9% in January, Boosting Rate Cut Prospects The Consumer Price Index (CPI) rose 2.9% year-over-year in January, down sharply from December’s 3.4% reading. The most significant contributor to the deceleration was a 4% decline in y/y gasoline prices, compared to a 1.4% rise the month before (see chart below). Excluding gasoline,…
February 14, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian Home Sales Continued to Rise in January as Markets Tightened
Canadian Home Sales Continued Their Upward Trend in January As Prices Fell Modestly The Canadian Real Estate Association announced today that home sales over the last two months show signs of recovery. National sales were up 3.7% between December 2023 and January 2024, building on the 7.9% gain in December. The chart below shows that…
February 9, 2024
Category: About Sherry Articles Media Reporting on Sherry
Canadian January Jobs Report Suggests No Recession In Sight
January Jobs Report Dispells Recession Fears Today’s StatsCanada Labour Force Survey for January was a mixed bag and shows the dramatic effect of surging immigration. Canadian employment rose by a stronger-than-expected 37,300, but part-time jobs rose by 48,900, and in the public sector, the gain was huge. The employment rate fell a tick because population…
January 24, 2024
Category: About Sherry Articles Media Reporting on Sherry
Bank of Canada Holds Rates Steady And Forecasts a Soft Landing
The Bank of Canada Holds Rates Steady And Expects Rate Cuts Later This Year Today, The Bank of Canada held the overnight rate at 5% for the fourth consecutive meeting but provided an outlook suggesting that monetary easing will begin by mid-year. The Bank forecasts a soft landing for the Canadian economy, with inflation falling…
January 16, 2024
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Canadian Inflation Rises to 3.4% Y/Y In December
A Bumpy Road To The Inflation Target Canada’s headline inflation number for December ’23 moved up three bps to 3.4%, as expected, as gasoline prices didn’t fall as fast as a year ago. These so-called base effects were also evident in the earlier US inflation data for the same month. Additional acceleration came from airfares,…
January 15, 2024
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Canadian Existing Home Sales Surged in December
Canadian Home Sales Surprisingly Strong in December Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up noticeably month-over-month in December 2023. The December rise of 8.7% was one of last year’s strongest monthly performances. The actual (not seasonally adjusted) number of transactions was 3.7% above December 2022, the largest…
January 5, 2024
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December Jobs Report In Canada Not As Weak As Headline Suggests
Brisk Wage Gains in December Will Keep The BoC Watchful Today’s StatsCanada Labour Force Survey for December was a mixed bag and far more robust than the weak headline figure suggests. Total employment in Canada barely budged, rising by a mere 100 jobs in the final month of last year. However, the labour force participation…
December 19, 2023
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Stronger-Than-Expected Canadian Inflation Will Keep The BoC On The Sidelines For Now
Inflation Held Steady In November Today’s inflation report was stronger than expected, unchanged from October’s 3.1% pace. While some had forecast a sub-3% reading, the November CPI data posted a welcome slowdown in food and shelter prices. Increases in recreation and clothing offset this–both are discretionary purchases. Cellular services and fuel oil prices declined on a…
December 14, 2023
Category: About Sherry Articles Media Reporting on Sherry
Canadian Housing Markets Bottoming
Housing Markets Prepare For A 2024 Rebound Before we get into the details of the November housing market data released this morning by the Canadian Real Estate Association (CREA), big positive news for housing occurred yesterday. The US Federal Reserve gave its clearest signal yet that its historic policy tightening campaign is over by projecting…
December 6, 2023
Category: About Sherry Articles Media Reporting on Sherry
Bank of Canada Holds The Overnight Policy Rate Steady at 5% For the Third Consecutive Meeting
The Bank of Canada Held Rates Steady and Took A More Neutral Tone It was widely expected that the Bank of Canada would maintain its key policy rate at 5% for the third consecutive time. It will continue to sell government securities (quantitative tightening) to normalize its balance sheet. Market participants weighed and measured each…