Jobs, jobs, jobs! The U.S. labor market took one step forward and one back in June as job creation advanced while wages stagnated and the size of the labor force receded. The addition of 223,000 …
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June 30, 2015
The Canadian economic news is not encouraging: Statistics Canada reported Tuesday that real gross domestic product (i.e. adjusted for inflation) shrank by 0.1 per cent in April from March. The economy was hit hard by …
June 29, 2015
Greece finally shut down its banking system: Greece moved to avert the collapse of its financial system, shutting lenders and imposing capital controls as of Monday, a measure that will deepen the recession and risk …
June 26, 2015
I forgot to mention this earlier: Tiff Macklem has gone through the revolving door: Bank of Nova Scotia appointed Tiff Macklem, a former Bank of Canada senior deputy governor, to its board of directors. Macklem …
June 25, 2015
In order to address an alarming shortage of employment opportunities for bureaucrats, the OECD has inaugurated publication of the OECD Business and Finance Outlook. The full publication is here; it’s a long paean to the …
June 24, 2015
Not much going on. TD issued sub-debt last week: The Toronto-Dominion Bank (“TD” or the “Bank”) today announced a domestic public offering of $1.5 billion of medium term notes (non-viability contingent capital (NVCC)) constituting subordinated …
June 23, 2015
It’s nice to see a hint of due process in the war on banks: First there was one. Then three. Now the U.K. Financial Conduct Authority is facing nine lawsuits for improperly identifying traders in …
June 22, 2015
John Williams of the San Francisco Fed is sounding very hawkish: John Williams, president of the Federal Reserve Bank of San Francisco, said the central bank is likely to raise interest rates this year as …
The Canadian Fixed Income Market: 2014
On April 23, the OSC announced: Today the Ontario Securities Commission (OSC) published The Canadian Fixed Income Market Report and OSC Staff Notice 21-708 – OSC Staff Report on the Canadian Fixed Income Market and …
June 19, 2015
Click for Big It’s time for … Battling Robots! Vanguard has an ally in Palo Alto, California–based Wealthfront. The company’s algorithms direct about 90 percent of the average portfolio to Vanguard funds. The firms don’t …