I received undergraduate and graduate degrees in economics and finance from the University of California, Los Angeles, 1968. My professional expertise is in macro-economics; currency and trade strategies; interest rates and yield curve analysis and fixed income strategies. For the past two decades ...
more I received undergraduate and graduate degrees in economics and finance from the University of California, Los Angeles, 1968. My professional expertise is in macro-economics; currency and trade strategies; interest rates and yield curve analysis and fixed income strategies. For the past two decades I advised an independent brokerage firm on capital markets, and yield curve analysis and portfolio management. Prior to that, I worked as senior consultant, with Peat Marwick and Partners (PMP) and A.R.A Consultants, responsible for projects in infrastructure, industrial strategy and public finance. From 1972 to 1980, I was Director of Research at C.D. Howe Institute, overseeing research in Canada-US trade, currency developments, and Canadian monetary policies.
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Latest Comments
The Canadian Housing Market Enters A Transitional Phase
Canada has a very small shadow bank---only about 10% of the mortgage market. The big six banks own 75% of all mortgages ( the balance is held by regulated credit unions, second tier banks).
Trump May Be Wrong About Winning A Trade War
Gary
You are most welcome to move to Canada. We are polite, do not want to turn the world upside and just go about a daily work. Also, the healthcare is universal and free.
Your assessment about farming and jobs is so right. When will the light go on with some of Trump supporters?
Norm
Trump May Be Wrong About Winning A Trade War
Apologize accepted. I know you personally would never have approved of this behaviour!
I just do not see any way forward on the trade issue with Canada. Truthfully, the Canadian officials I know are really top notch and know exactly how trade flows between the two countries and just how to push back,, knowing that the American farmer will be on the same side. The whole mess is surreal.
Trump May Be Wrong About Winning A Trade War
Canada is the biggest importer, not China, of US agricultural exports which are now in jeopardy. This is why Trump is having so much trouble with NAFTA. His supporters in the heartland are going to lose their largest customer. Canada is playing Trump perfectly by hitting at his weakness--- his voters in the heartland.
What Is Holding Down Long-Term Interest Rates?
I think you are right. Pension funds need that locked yield and swoop down to buy when yields go up,even a few bps.
Government Regulations And The Bond Market Intersect To Change The Canadian Mortgage Market
Real estate agents and mortgage brokers tell me the mortgage market is dysfunctional because of these cross currents.
Canada Is Unable To Participate In The Recent Surge In Oil Prices
Investment never recovered fully from the double hit of the financial crisis of 08 and the collapse of oil prices in 014. The entire trajectory of growth fundamentally shifted down.
Canadian Monetary Policy: Caught Between A Rock And A Hard Place
It will not happen.Toronto takes in 100,000 immigrants each and evey year. That translate into 40,000 new housing units a year. That is on top of the existing population growth of at about 10,000.
There is a hi using shortage in most locals. We only build 35000 units a year.
Canadian Monetary Policy: Caught Between A Rock And A Hard Place
Will Rogers may have been on to something. The banks in Canada started to raise mortgages rates to discourage borrowing. They feel too exposed. Also, the Federal government introduced tighter mortgage lending rules, so more buyers are being denied conventional mortgages. Yet, single-family home prices have not dropped much and condo prices are up 15% y/y.
Demand is so strong.
The FOMC Asks Our Indulgence In A Leap Of Faith
I know that. So why the constant reference to the 2 per cent target.? They should come clean.