Greetings,
United States: Businesses are increasingly facing labor shortages. Unemployment benefits have been much higher than normal. Combined with the one-off government payments, it’s been less attractive for many workers to get back into the labor force. Childcare challenges exacerbate the situation. The index of “job openings hard to fill” hit a record high.
Canada: Will demand from the US fiscal stimulus leak into Canada through the trade accounts? Export gains in January are already tracking well for the quarter.
Commodities: While the rise in China’s iron ore inventories is normal for this time of the year, the commodity stockpiles from Brazil hit a record high.
Equities: Retail trading is now nearly as large as mutual funds and hedge funds combined volumes.
Rates: Swap spreads have eased as the demand for mortgage portfolio hedging wanes.
Food For Thought: Voting restrictions legislation:
Edited by Devon Lall
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