Andrew Pyle
Andrew Pyle
acting apparent assessment bank canada currency dollar impact starting
The impact of an overvalued currency is starting to become more apparent ... the Bank of Canada may have to reconsider its assessment of how much the dollar is acting as a drag.
economic focus generally positive run
It's really a day where you're going to focus on the U.S. economic story. But I think we should see a generally positive run today.
begin dancing high lights party people realize realized school turned
It was like someone turned on the lights at the high school dance. Not only did people begin to realize that the party was over, they also realized that they didn't really know who they had been dancing with.
deficit faster growing spent time
The U.S. deficit is growing faster than someone who spent too much time at the all-you-can-eat buffet.
agreement broad concrete details impression liberals party support tory within
There's probably broad agreement within the Tory party for that. There's no concrete details on that, but you get the impression that Conservatives would probably support that as well. Obviously, the Liberals would support it because it's their program.
against alone argument bank canada core couple further hike months next prevent report strong trend turned
While the report alone is not going to be enough to prevent a 25 basis-point hike by the Bank of Canada next Tuesday, if the core trend is not turned around in the first couple of months of the new year, there will be a strong argument against further tightening.
above appreciation canadian dollar fourth highs quarter recovery remains suspect threshold
While the recovery above the break-even threshold is a relief, it remains well back of the highs set in the fourth quarter and we would suspect that the appreciation in the Canadian dollar is restraining optimism.
appear guidance overly
Right now their guidance has been clear... they don't appear overly alarmed by this.
canadian creation delivered dose job strength unexpected
May delivered another dose of unexpected strength in Canadian job creation.
annual bank core gain hikes inflation largest major november percent rate reinforce since takes
This is the largest gain since November and takes annual core inflation to 1.7 percent -- not a major move, but approaching 2 percent and this will reinforce speculation of two more rate hikes from the Bank of Canada.
appears begin bond call market nervous report scenario
It's a wake-up call for the bond market, ... The bond market was nervous to begin with that the goldilocks scenario wasn't panning out, and this report appears to confirms that.
bit breath closing crash eyes giant happened holding industrial similar waiting wave
It's a bit like closing your eyes and holding your breath waiting for a giant wave to crash down -- only to find that the wave has disappeared. There's a very similar correlation between what's going on now and what happened during the industrial revolution.
economic further growth pressure remain retail sales support
If retail sales remain healthy, it will give further support to the economic growth in the first quarter. This put pressure on bonds.
again bank raise rates reason
Why should the bank raise rates again in March? There's no reason.