August 26, 2023
Last week was as expected. The Republican debate was as expected (nothing happened). Jerome Powell’s speech at Jackson Hole on Friday was as expected (“The inflation fight is not over; I will raise rates further if needed.”). Also as expected, the end game is near for the “Magnificent Seven” stocks (AAPL, AMZN, MSFT, META, NVDA, […]
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August 19, 2023
The Yield Curve The Canadian Yield Curve remains significantly inverted, but the slope has eased, slightly: Here’s the difference between the 2 year and the 10 year yield: July 7, 2023 -1.231% July 14, 2023 -1.289% July 28, 2023 -1.164% August 18, 2023 -1.043% So, as you can see, the curve has shifted to the […]
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The 5 Year Yield
September 23, 2023Let’s start with a scary chart, and then look at an even scarier chart. Here’s the Canada 5 Year Government Bond Yield, going back to 1995: As you can see, the yield is now at just over 4.2%, the highest level since November 2007. Remember what happened in 2008? Scary, eh. Let’s zoom in for […]