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Friday saw unemployment tumble by the steepest percentage since 2022.
Be it stimulus-driven, AI-driven, resource-driven, or whatever, Canada's labour market wasn't supposed to have this momentum.
Once the data hit the wires, Mr. Market didn’t blink. Traders promptly priced in 100 bps of rate hikes with the first one landing next fall. (Fortunately, they're spaced out over the next four years.)
If you've worked in this carnival long enough, however, you've seen this rerun before—rate-bottom talk amid high uncertainty. Here is what bears remembering for advisors and borrowers alike.
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