Canada Economics Weekly Government embarks on large-scale fiscal expansion Two days before the budget, Governor Macklem dismissed a suggestion from a Conservative MP in Parliament that the government’s fiscal policy was adding to inflationary pressures and running counter to... 6th November 2026 · 5 mins read
US Economics Weekly Midterm results trigger concerns over AI rollout The Democrat sweep in this week's midterm elections has clearly alerted financial markets to the risk of a slowdown in data centre development and the AI buildout more broadly. While the underlying... 6th November 2026 · 5 mins read
Capital Daily A strong labour market may not save the S&P 500 It’s tempting to think that continued strength in the labour market in the US would cushion any further downside in the S&P 500. But that would hinge on whether it prompted the Fed to tighten policy... 6th November 2026 · 5 mins read
US Rapid Response US Employment Report (Oct. 2026) The strong rise in payrolls and tick down in the unemployment rate in October will give the Fed further reassurance that the employment side of its mandate is being met, meaning developments in... 6th November 2026 · 2 mins read
Canada Rapid Response Canada Labour Force Survey (Oct. 2026) The further contraction in employment in October and rise in the unemployment rate to a six-month high of 6.7% sit awkwardly with Macklem’s comments before MPs this week that the economy is “showing... 6th November 2026 · 2 mins read
Equities Update 2000 redux in the US stock market? Whether the US stock market’s performance remains reminiscent of its fate after the dotcom bubble burst will depend not only on whether a bigger AI bust is in the making but also on whether one is... 6th November 2026 · 5 mins read
Canada Economics Update Ottawa prioritises growth over deficit reduction The federal government’s decision to spend nearly all of its newly projected windfall revenues gives the Bank of Canada even more free rein to focus on the upside risks to inflation. We therefore... 6th November 2026 · 4 mins read
Capital Daily AI boom runs into US politics buzzsaw Growing fears about the sustainability of the AI buildout in the context of the major shift in US politics have led to another bruising day for tech stocks. Whether the mid-terms shock turns out to be... 5th November 2026 · 4 mins read
Capital Daily Three key points on the blue tsunami & US markets While the equity market has, in aggregate, reacted positively to the US mid-term election results, the extraordinary gains for the Democratic party poses another potential headwind to the AI trade... 4th November 2026 · 5 mins read
US Rapid Response US ISM Services (Oct. 2026) The small fall in the ISM services index suggests activity in the sector lost some momentum at the start of the fourth quarter. Together with the increase in its manufacturing counterpart, this leaves... 4th November 2026 · 2 mins read
Canada Rapid Response Canada International Trade (Sep. 2026) The further widening of the goods trade surplus to a more than four-year high in September was not quite as positive as it looks, as it was almost entirely due to a price-driven rise in energy exports... 4th November 2026 · 2 mins read
US Rapid Response US International Trade (Sep. 2026) The negligible narrowing in the trade deficit in September, as export growth barely outpaced import growth, is broadly consistent with the BEA’s assumptions in its advance estimate of Q3 GDP... 4th November 2026 · 2 mins read
US Economics Update Blue tsunami in midterms increases policy risks for markets The magnitude of the gains for the Democrats in the midterms does not change too much for the near-term policy outlook, given the party still lacks a filibuster-proof majority in the Senate and... 4th November 2026 · 4 mins read
Capital Daily AI worries have broadened With a double-digit fall in oil prices failing to lift the IT sector and more firms being caught up in the AI bust, there is growing evidence that this downturn in AI stocks may prove more durable... 3rd November 2026 · 4 mins read
US Commercial Property Update Recent losing metros showing signs of turning the tables The fortunes of some of the best- and worst-performing metro labor markets of recent years are starting to turn. San Francisco is resurgent, Miami is faltering and D.C. is hemorrhaging office jobs... 3rd November 2026 · 4 mins read
US Rapid Response US ISM Manufacturing (Oct. 2026) The rise in the ISM manufacturing survey in October suggests that activity in the sector gained some momentum at the start of the fourth quarter, thanks in part to the ongoing AI buildout. The drop... 2nd November 2026 · 2 mins read
