The U.S. Federal Reserve dropped its policy rate by 0.25% last week but financial markets reacted as if the Fed had raised instead. Today's post explains why.
In today’s post I offer a quick review of how the MQR works and highlight some fundamental and persistent design flaws in this critically important benchmark.
The U.S. Fed is expected to start cutting its policy rate next month. How will the Bank of Canada respond now that Canadian inflation has risen above its 2% target?
The futures market is now betting on three rate cuts by the U.S. Fed this year. Today's post explains how Canadian mortgage rates are likely to be impacted.
Canada's yield curve has been inverted since late March. This rare phenomenon has significant implications for our mortgage rates both today and in the future.