Thu. May 30th, 2024
Bank of Canada to Cut Before Fed Amid Weak Economy: Phillip Colmar

#bankofcanada #canadianeconomy #canadianrealestate
The Bank of Canada is going to be forced to cut interest rates before the Fed amid a weakening economy (and to offset mortgage resets) – this according to the strategist that said Canada was sitting on one of the “biggest housing bubbles of all time” – Phillip Colmar.
Links:Avoid tech, cons. disc. Bet on energy, financials and industrials instead: strategist:

https://www.bnnbloomberg.ca/investing/video/avoid-tech-cons-disc-bet-on-energy-financials-and-industrials-instead-strategist~2898220
Canada Unexpectedly Sheds Jobs, Unemployment Rises to 6.1%:

https://www.bloomberg.com/news/articles/2024-04-05/canada-unexpectedly-shed-jobs-unemployment-rose-to-6-1
Canada Could Be Sitting On “Largest Housing Bubble Of All Time” — What Will It Take To Burst?:

https://storeys.com/canada-largest-housing-bubble-strategist/
Canada is sitting in one of the largest housing bubbles of all times:

https://www.bnnbloomberg.ca/investing/video/one-of-the-largest-housing-bubbles-of-all-time~2750727
Canada's unemployment rate jumps to 6.1%, raising bets for June rate cut:

https://ca.finance.yahoo.com/news/canadas-unemployment-rate-jumps-to-61-raising-bets-for-june-rate-cut-133908001.html
Hot US jobs report tempers Fed rate cut outlook:

https://www.reuters.com/markets/global-markets-wrapup-1-2024-04-05/
Canada sheds jobs in March, increasing bets for June rate cut:

https://www.reuters.com/markets/canada-sheds-jobs-march-unemployment-rate-rises-61-2024-04-05/
Expectations of a June interest rate cut solidify as cracks widen in labour market:

https://www.thestar.com/business/expectations-of-a-june-interest-rate-cut-solidify-as-cracks-widen-in-labour-market/article_f302a20e-1c93-5ec6-9622-1d9c3bba341b.html
Cooling housing market shows short supply didn’t fuel COVID price surge: BMO economist:

https://www.google.com/search?client=firefox-b-d&q=mrb+phillip+colmar />Jump in unemployment rate puts Bank of Canada in a ‘tricky spot’. Here’s why:

https://globalnews.ca/news/10404690/statistics-canada-jobs-report-march-2024/
Jump in unemployment rate puts Bank of Canada in a ‘tricky spot’. Here’s why:

https://www.msn.com/en-ca/money/other/jump-in-unemployment-rate-puts-bank-of-canada-in-a-tricky-spot-here-s-why/ar-BB1l7LVX
Policy interest rate:

https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/
An international strategist says Canada is sitting on the largest housing bubble of all time — is he right?:

https://www.thestar.com/real-estate/an-international-strategist-says-canada-is-sitting-on-the-largest-housing-bubble-of-all-time/article_9300cd74-a8b4-5b75-9b64-1ddde23bcd78.html
About 60% of outstanding mortgages facing payment shock in next 3 years: RBC:

https://ca.finance.yahoo.com/news/about-60-outstanding-mortgages-facing-payment-shock-next-3-years-rbc-190517854.html
Number of households missing mortgage payments soars alongside consumer, business insolvencies:

https://www.thestar.com/business/number-of-households-missing-mortgage-payments-soars-alongside-consumer-business-insolvencies/article_77e84f0e-db26-11ee-9f54-13f3dd12a24e.html
Households owed $1.79 for every dollar of disposable income in Q4:
Statistics Canada:

https://www.ctvnews.ca/lifestyle/households-owed-1-79-for-every-dollar-of-disposable-income-in-q4-statistics-canada-1.6805719
Canadians are paying highest portion of disposable income toward debt on record:

https://www.theglobeandmail.com/business/article-household-debt-service-ratio-hits-record-high-as-interest-payments/

https://financialpost.com/news/economy/canada-loses-jobs-march
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