The BIG Picture

Approaching the one-month point of the U.S. federal government shutdown, the Federal Reserve (Fed) has been forced to make an interest rate decision with only partial visibility into the economy.

The U.S. federal government remains shut down. For now, investor attention is shifting to the Q3 earnings season.

Following recent signs of weakening labour market conditions in Canada and the U.S., central banks in both countries have decided to reduce their benchmark interest rates...

There was further evidence of a recovery is taking hold in many housing markets across Canada in August, but local price trends still varied considerably with declines continuing in affordability-challenged areas where inventory has piled up. Early reports...

As Q2 earnings season concludes, we move into what’s historically been a weaker month for stocks.

Despite ample reasons for pessimism this year, the global economy and markets have largely exceeded expectations.

As I have highlighted in recent letters, this summer has been far from quiet.

The Federal Reserve held rates steady once again, but with the added wrinkle of a hawkish outlook—likely pushing back the timing of any rate cut even further.

Canada’s housing market showed further signs of recovery in June with home resales picking up for a third straight month on a monthly basis. But, prices remained lower overall with nationwide declines largely driven by softening in Ontario and British...