RESEARCH CONTENT Follow up to November’s macro research on Canadian debt and inflation dynamics and financial markets:
Whilst there has been a rally in fixed income, CAD has range traded and equity has soared.
This seemingly goldilocks scenario is at odds with the debt and economic data presented in this report
Canada remains a highly indebted economy with no household sector debt growth
There is a very large burden on domestic savers to fund Federal and Provincial debt over the next 5 years
Fixed income trends are presented (outright, curve and swap spreads)
The report highlights that CAD is at a pivotal junction
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