Research
Two modes of work: same-day commentary on every major Canadian print, and long-form deep dives on the structural questions underneath. Newest first.
Data commentary
Same-day notes on every major Canadian print. Distributed as PDFs to subscribers; visible here as they ship.
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Inflation remains at 3% in August.
Inflation is set to pick up again in September after holding steady in August. Gas prices have already risen by 7 cents per litre since August, and Canadian counter-tariffs enacted last week will raise prices for imported goods.
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Canada sheds 42k jobs in August.
Most Canadian industries shed jobs in August, but losses were geographically concentrated. Montreal alone accounts for half the country's employment decline.
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Bank of Canada holds at 2.25%.
The new trade war increases monetary policy risk on both sides of the ledger, raising inflation pressures while hamstringing growth. This should keep the central bank on hold for longer than markets currently expect.
Deep dives
Multi-week investigations on the structural pieces of the Canadian economy.
Coming soon.