Monthly Archives: June 2024

Yesterday morning, a milder-than-expected US CPI number boosted hopes that the US Fed may soon start lowering its policy rate. Financial markets pooped on the headline, further loosening financial conditions for some publicly traded companies. Then, a more hawkish Fed … Continue reading →

This interview offers a lucid top-down review of economic trends and asset markets. Here is a direct video link. As I explained here, I do not share the faith that immigration should prevent Canadian home prices from declining by more … Continue reading →

It is wildly unpopular to say this, but Canadian home prices need to move much lower. And yes, I, too, stand to lose net worth as they do. Immigration is unlikely to prevent mean reversion here. Immigrants need places to … Continue reading →