1057 days ago
About 70 per cent of Canadians responding to a new Nanos Research poll conducted for Bloomberg News said the sharp increase in home prices was a major problem for the economy. Almost half were at least somewhat in favor of the Bank of Canada raising its overnight rate to slow the rise, even though such a move would also increase the cost of credit lines, credit cards and other debt.
1058 days ago
Source: MacroMarketsDaily
1058 days ago
Headline CPI inflation +1.6ppt to 4.2% y/y in April Core CPI inflation +1.4ppt to 3.0% y/y
1058 days ago
"The market is beginning to debate whether or not the Fed is right on inflation," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "Will this be more than transitory? That's what the market is beginning to discount."
1059 days ago
Lumber prices have shot to more than four times what is typical, pushing up home prices and obliterating renovation budgets. Copper, a cog of industry found throughout the home and in electronics, hit record prices Friday. Crude oil hasn’t cost so much since 2018 and soybeans are trading at their loftiest level since 2012. With corn climbing toward a record, Americans can expect to pay more for all sorts of items at the grocery store as well as at the gasoline pump. Corn is a key ingredient in making products ranging from tortilla chips and chicken wings to bourbon and Coca-Cola. About 40% of the U.S. crop is blended into motor fuel.
