Retail sales contracted by 1.1% month-on-month (m/m) in May, matching Statistics Canada’s advanced estimate. After adjusting for inflation, the volume of retail sales declined 1.4% m/m. The sharp pull-back was led by auto sales, which fell by 3.6% m/m as the tariff-driven front-loading seen in the prior two months reversed course. Ex-autos, sales were down […]
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If you own an index fund in your 401(k), the composition of your account could change in the coming months without any action on your part. SpaceX filed confidentially for what could become the largest Read more…
Federal Reserve left its policy rate unchanged at 3.50–3.75%, in line with expectations, but the decision revealed a widening divide within the Committee. Governor Stephen Miran again dissented in favor of a 25bps cut, while Read more…
Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, on average, and the unemployment rate has been little changed in recent months. Inflation is elevated, in Read more…