CIBC On the Week Ahead In Economics

02:15 PM EDT, 05/29/2026 (MT Newswires) -- According to Avery Shenfeld, the "surprisingly" weak Q1 GDP readings today actually explained more about why the jobs numbers this year have been "so ugly", rather than necessarily implying we're due for more of the same in May. CIBC sees a net addition of 15K to the ranks of the employed next Friday, compared to a consensus 10k gain, and Shenfled said this might only be enough to hold the unemployment rate at a "lofty" 6.9% level because it will include temporary census jobs that are often filled by those who previously were not looking for work, but who are interested in taking on a short-term gig. CIBC will be paying more attention to whether private sector employment can eke out any growth in a quarter in which consumers are being squeezed by gasoline prices. Also, the April GDP rebound gives CIBC some hope that we won't see a further nasty drop in private sector employment this spring, Shenfeld added.

Also on the calendar for next week is the auction on Tuesday of $15.8 billion in 3-M Bills, $5.6 billion in 6-M Bills and $5.6 billion in 1-YR Bills; followed Wednesday by the auction of $5B in 5-YR CANADAS.

Wednesday also sees the release of Q1 Labour Productivity data, while May IVEY PMI is due Friday.

Price: 147.57, Change: -3.39, Percent Change: -2.25

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.