G-7 nations reach historic deal on global tax reform
Britain’s Chancellor of the Exchequer Rishi Sunak (from left), U.S. Treasury Secretary Janet Yellen, Managing Director of the IMF Kristalina Georgieva and Canada’s Finance Minister Chrystia Freeland chatting on the first day of the Group of Seven Finance Ministers Meeting...
Aussie Ready to Turn Around after Late Rebound?
Dollar was in a pole position to end as the strong one but was the unfortunately knocked down by solid, but disappointing non-farm payroll report. The data did nothing to alter the base position of Fed officials that, it’s only...
Weekly Economic & Financial Commentary: Will the ECB Start to Taper?
Summary United States: Supplies Attack Napoleon famously observed that an army marches on its stomach; in a similar vein, an economy can grow only as fast as its supply chains. Material shortages were evident in the ISM reports, and the...
Forward Guidance: Bank of Canada to Look Through Transitory Ups (in Inflation) and Downs (in GDP)
No meaningful change to monetary policy guidance is expected at next week’s Bank of Canada meeting. Recent economic data has come in somewhat softer than the bank had projected in the April Monetary Policy Report, but not significantly enough to...
The Weekly Bottom Line: Music to American’s Ears
U.S. Highlights Job growth picked up in May, with the economy adding 559k jobs and the unemployment rate falling to 5.8%. ISM indexes pointed to strong growth in manufacturing and services sectors in May, though supply constraints linger. Canadian Highlights...
Week Ahead: Central Banks and Inflation Take Center Stage
Last week, US Non-Farm Payroll data was weaker than expected at +559,000 vs an expectation of +650,000. Those looking for help in determining the US Fed’s next move were probably disappointed. Canada also released payroll data. Economists were forecasting -20,000...
Stocks making the biggest moves midday: Square, Biogen, DocuSign and more
The exterior of the headquarters of biotechnology company Biogen in Cambridge, MA is pictured on March 21, 2019. John Tlumacki | Boston Globe | Getty Images DocuSign – Shares of the electronic signature company surged 19.7% after beating on the...
Jobs report shows improvement, but not enough to get Fed talking about tapering
A help wanted sign is posted at a taco stand in Solana Beach, California. Mike Blake | Reuters Hiring improved in May, but 559,000 new jobs aren’t enough to spur the Federal Reserve to begin to talk about tapering back...
NFP Headline Print Won’t Help Fed’s Taper Decision
For those looking to Non-Farm Payrolls for direction as to what the Fed may do at their June 16th meeting, today’s print of +559,000 may have disappointed. Expectations were for +650,000, so it’s a weaker print. The revision to April’s...
Fed’s Mester lauds jobs report but says it’s not enough to change policy
May’s job gains were “solid” but not enough to change the direction of monetary policy, Cleveland Fed President Loretta Mester told CNBC. “Bottom line, I would like to see further progress than where we are right now,” Mester told CNBC’s...
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