“Makes you wonder if there’s a potential mid-QE-life crisis taking shape in Ottawa”: strategists at the National Bank of Canada in a note that would be hilarious if it weren’t so serious.
“Once crisis tools have served their purpose, central banks should scale them back.”
It’s odd to see it occur while almost every market reports record home sales.
But a surge in new renters pronto is unlikely.
“There’s a lot of extend, amend, and pretend with respect to finance documentation. But at some point the music will stop.”
“They’re whistling past the graveyard and offering no analysis.”
National sales volumes have been sliding for a few years, but this is like nothing seen in a long time.
How will Canadians service $1.56 trillion in mortgage debt plus other debts such as credit cards? What about tenants who can’t pay their rent?
Sales fall for second year in a row, as car sales collapse further and truck sales barely tick up.
Latest data is out. Folks who hoped the Renminbi would break the dollar hegemony have to be very patient.