Canada

What are markets saying? The good times are over! The days of extremely low volatility, with the VIX trading at 12 or 13 are now over. We may see an up day or a down day, but the volatility is now higher than it was before - perhaps…

Asset market distress is mounting My default position recently has been more about volatility than a directional call on any specific asset class. But, in a world in which asset prices have been rising, increased volatility is almost always…

I want to use the news flow to highlight several issues that I am following that should have a major impact on the economy and financial markets in the next year. All of these topics are laden with risks that skew to the downside. And that…

The daily is a bit late today because I had some engagements this morning. Things will be back to normal tomorrow. But expect a late newsletter on Thursday as well. 1. Canada's private sector echoing 1990s America Goldman has a good note…

Today's daily newsletter has stories on US trade with Canada, Mexico and China, on predictions about the cycle ending, the Tesla saga, an interview with Hugh Hendry and much more

I've been hearing from multiple sources that the Canadians are unloved by Trump's trade negotiation team. This Bloomberg clip gets at the heart of the reports, with the Bloomberg reporter saying that US trade representatives are "bashing…

Today's daily post ismore on the political economy side. Top items include inequality and political control and Trump's negotiations with Canada.

Maybe he just wants to get concessions out of the Chinese and the Mexicans and he is willing to take heat on (temporarily) damaging relationships with the Canadians. I suspect this may be what he is after.

Regardless of what happens in NAFTA, we are going to see the Trump Administration put its 'America First' trade policy in play. Likely within the month, tariffs are coming.

Recent statements by monetary authorities in Canada, the United States and the United Kingdom tells us rate hikes are possible in all three this year. This trio of English-speaking G7 nations is at a different phase of the monetary policy…