Economic Trends: Mostly BAD NEWS
One tiny bit of good news, the home sales jumped 45% in October in the TRREB system although that month a year ago was terrible year (some base effect) Just proves the ultimate truth: Mortgage Rates drives Real Estate. BAD NEWS: US Jobs Report takes a hella big revision downwards, in Canada we have just figured out that the positive job numbers we have been seeing for the last year may just be Temp Foreign Workers many working at low paying jobs from in some cases fraudulent Employer requisitions. Sum it up: everything points to continued Bank of Canada cuts because it seems clear the US Fed will also cut with makes it much easier for Tiff Macklem to cut
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