The Price perspective

The Bank of Canada lowered its benchmark interest rate by half a percentage point in October, to 3.75%.

The equity market advance from the depressed lows of 2022 has now been running for 24 months. The only pullback of note was the three-month, 10% correction in the spring of 2023. Since that point, there has only been one instance with a monthly close...

The Fed has finally aggressively lowered interest rates. While a steeper yield curve reflects the market’s optimism that rate cuts will shore up the economic outlook, further steepness could be a sign the Fed will cut rates deeply, likely due to a re