Good afternoon:
A few financial tidbits to hang on your tree as we head in to Santa’s busiest week of the year.
U.S. Millennials reach a housing milestone (see chart from the Wall Street Journal “For years, conventional wisdom held that millennials, born from 1981 to 1996, would become the generation that largely spurned homeownership. Oops. Instead, since 2019 they surpassed the baby boomers to become the largest living adult generation in the U.S., and have reached a housing milestone, accounting for more than half of all home-purchase loan applications last year. And as the largest cohort of millennials turned 30 this year—below the median first-time buyer age of 33—those percentages could rise higher still. That’s especially true because millennials are getting married and having children later in life than recent prior generations, events that can often prompt a home purchase. The generation’s growing appetite for homeownership is a major reason why many economists forecast home-buying demand is likely to remain strong for years to come.”
What’s on whose what’s what list?
A central bank’s communication strategy is keenly focused on not delivering surprises to a market place that hangs on its every word, literally. Rather, these banks let out information slowly, sticking closely to an established set of expectations, trying to react very predictably to changes in economic data out of their control. This chart shows how very closely the aggregated expectations were matched by the US Fed last year. (The dates are a year out of sync, but you get the idea).
And now, a special Christmas bonus segment from our handsome cat-beast Oliver, who says “Christmas is sweet sorrow…purrr rump-pa-pum-pum.”
If, like Oliver, you get tired of the incessant tinny tune-fest of mid-December, maybe you want to wash all that sticky sweet music off your paws in favor of some mildly bleak mid-winter listening. For some slightly melancholy Christmas Canadiana try:: The McGarrigle Christmas Hour 
Oliver says this next chart, shows how increasingly the earth’s robots are feeding humans. This makes him wonder why he even keeps his humans around.
A quick listen to Merry Christmas from Chiron Beta Prime always cheers the fluffy cat up. (purrrr).
However, Oliver does not like The Cat Carol. It’s a bridge too far for him. (hissssss)
Looking for directions out of Covid-town:
As economies and markets settle into the post-COVID world, investors will have to adjust to different dynamics that are setting the tone for the coming year and beyond. Our 2022 Outlook explores these and other key investment themes.
Regional developments: Canadian inflation steadied into November; Fed meeting takes center stage; Bank of England raises rates despite omicron; U.S. to hit more Chinese companies with sanctions?
And, for the last time in 2021, here’s the full Global Insight Weekly
Enjoy a very peaceful and Merry Christmas as well as a Happy New Year.
Here’s to no flu in 2022!
Mark