Futures markets are pricing 150 basis points of Fed cuts by the end of 2026 (taking Fed policy down to 2.75% to 3%) and 75 basis points from the Bank of Canada (reducing the BoC target to around 2%).

Indeed, on all 8 of the most historically reliable valuation measures (Trailing P/E, Forward P/E, CAPE, price to book, price to sales, EV/EBITDA, Q Ratio, and Market Cap to GDP), the stock market ...

Backward-looking job revisions show the US and Canadian economies have been producing fewer and fewer jobs amid rising unemployment. Mass layoffs are due next. EPB Macro’s Eric Basmajian explains in ...

Aging and leveraged owners are increasingly looking to downsize real estate exposure in many areas all at once. This is a macro theme with legs. Real estate investors are releasing a major housing ...

The salad days of near-zero interest rates enabled excess demand and price-insensitive buying across most sectors all at once; that included art markets. After a euphoric frenzy peaked in 2022, art ...

The Toronto area saw the average home price drop for the seventh consecutive year-over-year decline in August. Detached home prices, down 10%, fell more than other property types. The average sales ...

To find out, we have the good fortune to welcome Danielle Park back to the program.

Buying assets with high loan-to-value ratios tends to magnify price cycles up and down. Leveraging assets like principal residences to get downpayments for other assets leads to a daisy chain of woe ...

Risk markets are staging another bear market bounce on Trump’s latest statement that he does not intend to fire Fed Chair Powell. They are also negotiating with China. These things pass as good news ...

It is wild and indefensible that insider trading by politicians remains rampant. Conflicts of interest queer policy and undermine faith and trust in institutions. And yet, will efforts to ban it ever ...