Over the last month, markets have been remarkably resilient despite being pulled in three directions: Middle East conflicts have pushed energy prices back to the centre of the inflation story; growth in Canada is softening just as commodities, including precious metals, are becoming more volatile; and Japan’s rate trajectory is reintroducing global duration risk as politics and policy uncertainty heighten the risk of a broader carry-trade unwind narrative. The common thread is that the market backdrop is shifting from “smooth disinflation” to a noisier mix of supply shocks, policy and geopolitical uncertainties, and cross-asset volatility.
National Day for Truth and Reconciliation closure
Our branches will be closed on Wednesday, September 30 to observe the National Day for Truth and Reconciliation. Our Member Service Centre, Member Solutions Team and Personal Assisted Teller services will be available from 8 a.m. to 5 p.m. should you need anything.