The Toronto Stock Exchange has dropped 485 points at midday with miners and info tech, the worst performers. Gold is down 4.7%, while silver is 6.4% lower. Telecoms, up 0.3% and industrials, the sole gainers. Headline CPI inflation for September came in at 2.4% year-on-year, ahead of expectations for a 2.2% y/y print.
Not sure why this is even up for debate, but a few commentators have tried to assert in recent weeks. that the 15-year high in Canada's youth unemployment rate is purely a function of a soft economy, said Bank of Montreal.
A larger-than-expected acceleration in headline consumer price index makes the Bank of Canada's interest rate decision next week a little more complicated, but core measures of inflation are likely still subdued enough, and gross domestic product growth sluggish enough, to justify a further 25bps cut in interest rates, said CIBC.
Canadian headline consumer price index inflation for September came in at 2.4% year-on-year, ahead of expectations for a 2.2% year-over-year print, said TD after Tuesday's CPI data. September's reading was up from 1.9% year over year in August. Gasoline prices again provided a smaller drag to the headline, down 4.1% year over year from 12.7% lower in August.
Canadian consumer prices rose 0.1% month over month in September, or a "chunky" 0.4% month over month in seasonally adjusted terms, firm enough to lift headline inflation five full ticks to 2.4% year over year, said Bank of Montreal.
Canadian headline inflation accelerated to 2.4% year over year from 1.9% in August, the quickest pace of advance since February, said Desjardins. Both gasoline and food prices rose sharply during the month. Other measures of core inflation also suggest that underlying inflation isn't heating up, stated Desjardins.
The Bank of Canada's Business Outlook Survey for Q3 came in contractionary for an unprecedented eleventh consecutive quarter, said Rosenberg after its release on Monday. The subindex assessing future sales expectations swung to negative terrain for the first time since Q2 2023.
Freddie Mac today announced it sold via auction 2,201 deeply delinquent non-performing residential first lien loans from its mortgage-related investments portfolio. The loans in the SPO? offerings were offered as four pools of mortgage loans.
The Canadian headline consumer price index accelerated by more than anticipated in September, but core measures of inflation were just subdued enough to support a further 25bps cut from the Bank of Canada next week, said CIBC.
Gold fell off a record high early on Tuesday amid profit taking and a rising dollar. Still, the price of the precious metal is up 65% since the start of the year, and 15% over the past month, pushed up by falling interest rates, safe-haven buying amid a slowing global economy, central bank and physical demand, and momentum buying amid rising risk appetites.
The Canadian consumer price index rose 2.4% on a year-over-year basis in September, up from a 1.9% year-over-year increase in August, said the country's statistical agency Tuesday. September's CPI was higher than the 2.2% year-over-year consensus figure provided by Scotiabank.
Bank of Montreal said it doesn't normally highlight Canadian producer prices, since they are a bit volatile and tend to be reported after the consumer price index. However, this time, the bank noted it will make an exception, as industrial product prices jumped 0.8% month over month in September on both the headline and the core -- the meatiest combo since January.
The US dollar rose against its major trading partners early Tuesday ahead of the release of nonmanufacturing data from the Philadelphia Federal Reserve at 8:30 am ET and weekly Redbook same-store sales data at 8:55 am ET. State unemployment data for September will not be released due to the ongoing government shutdown.
Canada will publish the consumer price index for September at 8:30 a.m. ET on Tuesday, said Societe Generale. CPI is forecast to have stalled in September at around 3.0% year over year, wrote the bank in a note to clients. For the Bank of Canada's rate decision next week, consensus is for a 25bps cut to 2.25%, stated SocGen.
Canada releases the consumer price index for September at 8:30 a.m. ET Tuesday, said ING. Headline CPI should have rebounded above 2.0% year over year, but that won't matter too much for the Bank of Canada as long as core measures -- trim and median -- remain anchored around 3.0%, wrote the bank in a note to clients.
Canada will release the consumer price index for September at 8:30 a.m. ET on Tuesday, said RBC. The bank is marginally above consensus in looking for a flat month-over-month reading, above the consensus expectations for a 0.1% month-over-month decline -- forecasts spread from -0.2% to +0.1% month over month.
Canada will release the consumer price index for September at 8:30 a.m. ET on Tuesday, said RBC. The bank is marginally above consensus in looking for a flat month-over-month reading, above the consensus expectations for a 0.1% month-over-month decline -- forecasts spread from -0.2% to +0.1% month over month.
EUR/USD remains almost entirely driven by U.S. credit and equity sentiment, and further stabilization could take the pair all the way to 1.160, said ING. Levels below that will be harder to justify unless the U.S. consumer price index on Friday comes in hotter than expected, wrote the bank in a note to clients.
Societe Generale in its early Tuesday economic new summary pointed out: -- United States Treasury yields down with oil, US dollar up, U.S. Tech momentum bullish, Apple shares advance to record on optimism over new iPhone sales. -- Japan's lower house votes in favor of Sanae Takaichi as new prime minister.
The city council of Harvey voted to declare the city financially distressed in a bid for state oversight, as the mayor warned of a city government shutdown.
"The story remains the same: solid demand is more than enough to take down the sizable new issue supply," said Daryl Clements, a portfolio manager at AllianceBernstein.
Financial stocks were advancing in late Monday trading, with the NYSE Financial Index adding 1.1% and the Financial Select Sector SPDR Fund rising 1.3%. The Philadelphia Housing Index increased 0.5%, and the Real Estate Select Sector SPDR Fund gained 1%. Bitcoin was increasing 1.9% to $110,690, and the yield for 10-year US Treasuries was shedding 2 basis points to 3.99%. In economic news, the p...
Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index up 1.1% and the Financial Select Sector SPDR Fund rising 1.3%. The Philadelphia Housing Index increased 0.5%, and the Real Estate Select Sector SPDR Fund gained 1%. Bitcoin was increasing 1.9% to $110,690, and the yield for 10-year US Treasuries was shedding 2 basis points to 3.99%. In economic news,...
The Roosevelt Institute rolled out a new report on munis revealing the latest trends in public finance along with critiques and recommendations for alternative ways to fund infrastructure.
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index up 1% and the Financial Select Sector SPDR Fund rising 1.2%. The Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund each added 0.7%. Bitcoin was increasing 1.1% to $110,394, and the yield for 10-year US Treasuries was shedding 1.6 basis point to 3.99%. In economic news, the partial US ...
Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index up 0.8% and the Financial Select Sector SPDR Fund rising 1.1%. The Philadelphia Housing Index was adding 0.6%, and the Real Estate Select Sector SPDR Fund was up 0.6%. Bitcoin was increasing 1.6% to $110,786, and the yield for 10-year US Treasuries was shedding 1.6 basis point to 3.99%. In corporate news,...
Responses in both the Q3 business and consumer surveys of the Bank of Canada highlighted weakness in the labor market, said Desjardins after Monday release. Most firms in Canada don't expect to hire more staff over the next year, noted the bank.
The Bank of Canada's Q3 business and consumer surveys continued paint a downbeat picture of the economy, with only marginal improvement in some indicators relative to the prior quarter, said CIBC.
Canadian firms' outlooks and intentions remain subdued despite a gradual improvement in sentiment and a slight easing of perceived uncertainty, said the Bank of Canada in its Q3 Business Outlook Survey published Monday. Expectations for growth in domestic and export sales remain soft due to concerns about the broad economic effects of trade tensions, noted the central bank in the Q3 BOS.
Bank of Canada Monday released results of the Canadian Survey of Consumer Expectations for the third quarter of 2025. In an overview, the BoC said tariffs and trade tensions continue to affect consumers' spending plans and perceptions about their financial health.
The Canadian September consumer price index lands on Tuesday at 8:30 a.m. ET, said Scotiabank. The bank estimated headline inflation to be flat month over month in seasonally unadjusted terms as per the polling convention. Canada ended most retaliatory tariffs against the United States at the start of September.
As the Federal Reserve begins cutting rates, yields on money market funds are declining. ?As the Fed lowers rates, low duration strategies offer a timely, balanced approach?providing yield, stability, and flexibility for investors ready to move beyond cash,? said Rapanot.
When Canada's Liberal government announces its budget on Nov. 4, Rosenberg Research said it expects a deficit next year of between 2.3% and 2.6% of gross domestic product amid large increases in defense and infrastructure spending. This will provide a modest fiscal stimulus to Canada's struggling economy, noted the Rosenberg Research.
While the market seemingly features no shortage of headline-driving news, one of the most consequential developments stemmed from the Federal Reserve. One of the primary difficulties is inflation. The expert isn't alone in the bullish assessment, which also assumes a sustained deterioration of relative dollar strength.
Multiple municipal bond offerings this week have a high exposure to climate risk, specifically high Wildfire and Hurricane Scores, according to ICE Climate Data. An $82 million offering from San Jacinto Unified School District, Calif., records a Wildfire Score of 4.9 out of 5.0, ICE reports.
5.77% average yield, demonstrates Oportun?s continued access to low-cost funding? Third consecutive transaction with AAA rating on most senior bonds Oportun, a mission-driven financial services company, today announced the issuance of $441 million of two-year revolving fixed rate asset-backed notes secured by a pool of unsecured and secured installment loans.
The US dollar rose against its major trading partners early Monday as the US data schedule continues to be impacted by the ongoing government shutdown. With Federal Open Market Committee participants in their 'quiet period' ahead of the Oct. 28-29 rate policy setting meeting, the focus this week will be on Friday's rescheduled September consumer price index report.
Canada will publish the September industrial producer price index and the raw materials price index at 8:30 a.m. ET on Monday, said Scotiabank. Producer prices are an indirect possible measure of ultimate consumer price inflation that the Bank of Canada is mandated to manage at 2% over the medium term, noted Scotiabank.
Asian stock markets tracked solidly higher Monday, as mainland China reported third-quarter economic figures in line with expectations, and Tokyo resolved a national leadership snag. Benchmark equity indices in Tokyo, Seoul, and Taiwan struck fresh all-time zeniths, in broad regional rallies led by tech issues. Hong Kong and Shanghai also finished in the green.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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