Markets

David Rosenberg has been pretty bullish on the Canadian economy.  In the wake of recent tightening of regulations on housing in Canada, he muses about what this will mean for the Canadian housing market and the broader economy.…

The same day that Moody’s cut Greece’s sovereign rating to A3 from A2, Fitch warned that Japan’s credit rating was threatened by its mounting debt.  Yet, ironically, the latter may be a source of funds for the former.  Although…

Highlights The US dollar has surrendered earlier gains that pushed the euro lows not seen in nearly a year, just above $1.3200, before reports spurred speculation that Greece will seek to activate the backstop facility.  The euro…

Highlights The US dollar is narrowly mixed today.  The euro is heavier following news that Greece and Ireland’s budget deficits were even larger than expected by the EU’s calculations and this is seen as much more important that the…

David Rosenberg of the Toronto-based money manager Gluskin Sheff is out with a note today that measures the U.S. stock market as 35% overvalued based on Shiller P/E ratios. His  conclusions are largely consistent with commentary Jeremy…

The Bank of Canada's statement yesterday, where it dropped it conditional promise about keeping rates steady and raised this year's growth outlook triggered new Canadian dollar buying.  We too have been bullish the Canadian dollar.…

Highlights        The US dollar is mostly higher today, but the drivers are elsewhere.  Greek talks with the EU/ECB/IMF are beginning, but they look to continue for a couple of weeks.  It seems…

Falling commodity prices amid general position adjustment in the foreign exchange market is weighing on the Canadian dollar today. The Loonie is trading at its lowest level since late March.  The near-term risk seems to extend toward…

The Swedish government cuts its growth forecasts for this year and increased its spending to boost the economy, ahead of the Sept parliament elections.  The krona is gaining against the euro, but this is more a reflection on the euro's…

At the end of last month I proffered three potential explanations for the continued fall in the US savings rate.   The first explanation was that the economy was in a cyclical recovery predicated on asset price inflation and this…