I don't see why the BoC would have to cut at the next meeting: portfolio manager
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- เผยแพร่เมื่อ 20 พ.ค. 2024
- Bryden Teich, partner and portfolio manager at Avenue Investment Management, joins BNN Bloomberg to react to the latest Canadian inflation data.
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I doubt "most" Canadians earn more than $150k/yr in salary, if even $100k... that means at 8% mortgage (25yr amortization), you need at least two incomes to afford a bag of chips and your freehold townhome in the outskirts of GTA. Forget about taking a vacation with family or replacing that old junk car rusting outside.
Finally, a guest with a brain who tells it like it is! Rate cuts will be SLOW and hard to come by.... do NOT listen to the DEsjardins guy who called for 6 cuts in 2024, then 5, then 4 etc. Buckle up, rates will continue to be higher for longer....
I agree with you. They also should do something about the high price of consumer goods especially grocery items.
With the carbon tax increase gas prices jumped in April…food prices still so high than how’s that possible the CP-Lie will come down?
Gas and food are not included 😂😂😂
@@stephenn88 That’s the way how they bring down the CP-Lie 😝
@@stephenr6194 it is the same baseline they did not change it now 🤭
To be fair they need to exclude carbon tax
Everybody better get used to 5% on a 5 yet fix rate .
or higher if the federal government ever decide to stop manipulating the mortgage market
@@ST-fk3jz the fixed term mortgage market is based of bond yields so not sure what manipulation you’re talking about
@@jtome84-91 from the bank of canada "The Government of Canada intends to purchase 50% of fixed-rate Canada Mortgage Bond (CMB) primary issuance over the 2024 calendar year"
@@jtome84-91 from the bank of cannada website: "The Government of Canada intends to purchase 50% of fixed-rate Canada Mortgage Bond (CMB) primary issuance over the 2024 calendar year"
@@jtome84-91lots of mortgage fraud and money laundering happening in Canada
Federal government is getting desperate and now using mass population growth to save Canadian RE Ponzi scheme from collapsing
Canadian Gov also using $30 Billion in Canadian bonds to buy $30 Billion in dirty Canadian MBS full of reverse amortization variable rate mortgages . That’s $30-40 Billion a year but it won’t be enough so expect more in 2024 and probably double in 2025. Where will Canadian Gov get the cash back to buy these bonds without doing QE?
In history the last 2 recent recessions in 2001 and 2007, the economies collapsed when interest rates started dropping from the peak. The public blamed the central banks responded too late. When bad data was materialized, the markets have already been deteriorating more than half year.
That's interesting. There is always a lagging effect. When interest rise, obviously... The impact don't arrive 5 min after. Same for rate cuts I guess.
*Higher rates for longer, why lower rates?, they will only lower rates once we start to go into a recession, people have this crazy idea that Bank of Canada will lower rates to help people lower their mortgage payments*
Looks like the Canadian 5 year treasury bond has already gained back 90 percent of where it was at before the CPI and inflation report yesterday. What a difference a day makes. So much for any rate cut.
Interest rates won't be coming down any time soon...the central bank wants mortgage holders to lock in with the higher interest rates before it comes down.
100%. The rate cuts can wait
The 5 year government of Canada treasury bond yield is back up to about 3.70 percent today. So much for any rate cuts.
Just kicking the can own the road, we are.
Agree BoC won’t do anything about the rate. The inflation is calculated from the last 12 months. So the inflation will get down slowly. More pain to come.
It’s common sense and risk management 101. Why raise rates aggressively, just to cut it while economy is doing well. This guest is telling the truth.
This guy really said the economy is good? Lol
yes ! a certain wannabe PM has been very busy trying to convince his fanboys that Canada is broken. we are not broken....not even close... We are thriving. How come big mouth stopped spewing about Justinflation?????
Tbh if you look at the mutual funds like Fidelity, CI, black rock, even some of the Financial Services like Sun Life’s funds available are all seeing growth. If you look at the graph of the stock exchange since the beginning it is constantly climbing with drops here and there but the graph continues to climb. It’s interesting to think about but the big corporate companies will make sure the economy doesn’t complete collapse.
A lot of the Canadian Economy rides on the Unites States economy. They’re still the richest country in the world!!!
Emphasis on completely ** cause it’s obviously not great but it’s actually not as bad as it seems in terms of fund companies and banks.
Thats because he is a portfolio manager and he profits more when interest rates are high.
Take out the shelter cost.the inflation is already below the target.high rates causing the inflation now.
That's good if you live in your car and catch fish in the lake.
Economy is ok? From 2019 to 2023 Canada has the 5th worst economy out of the 38 OCDE countries
OECD predicts Canadian GDP per capita or GDI will be worst in the G40 for the next 10 years
As soon as they cut the Canadian dollar crashes against the US dollar and inflation heads to the moon.
keep the rate steady like this for the next two years. Tax the real estate investors to make investing in this less attractive. On the same time , crack down on big grocery stores and make them drop their prices , make policies towards tiny homes which are easy and quick to build . Also , if you can , make new highway to lift congestion from GTA cities
This man doesn’t have a property in the city of toronto 😂
This man believe the economy is doing well?
Why don’t see whether bank of Canada will hold the rate till recession hit in Canada? We will see whether interest rate will cut or not next week, then you will say that is surprise, you will lose and say this is not what we are expect ,
Don’t be shocked if US Fed raises rates later this year
Why are you so stupid
Expert: economy is kind of ok. … 😂
Canadian should stop investing in USA it’s expensive and currently difference.
The found the guy who runs the tech fund, who luckily invested in NVIDIA. Lol, that our he doesn't understand how the economy functions.
Anybody who says the rates should stay high aren't being effected by shelter costs in any significant way or running a business or jobless / going jobless. You literally are clueless.
Economy is kind of ok ?? LOL you guys have to stop talking to portfolio managers, they profits from high interests rates, our economy is heading for a full recession.
BoC won’t cut the rates until the Federal Reserve do.
why
@@stephenn88 Odds are 93 percent that's what will happen judging by history.
@@parkerbohnn how did you come up with 93%?
Where do you get econmy kind of ok
Another one who cant see numbers
Wow i guess education means nothing
After seeing this high interest rate environment, we have decided NOT to invest in Canada and North America anymore. U guys are risking citizens with their own money with your mad economic policies!
Ontario long weekend had long lineups and eating establishments at a resort packed with families eating at places that start at 40$/plate with 3-4 kids in tow. People have lots of money to spend!
The people with no money just aren’t going anywhere.
What a stupid thing to say lineups paying $40 a meal so everything is ok . People with this level of intelligence is the reason Canada is in this mess.
You sure you weren't at the food bank?
People have money since the banks haven’t frozen heloc accounts yet
Once Canadian RE takes a bigger hit, reality will hit hard
The economy is kinda ok, lol can we get a professional on here next time. The economy is in shambles. lives are getting ruined, I don't give a flying F*** what the states does, be independent for once and cut according to our own data.
Thats because he is a portfolio manager and he profits more when interest rates are high.
Why would we cut? So the dollar crashes and the costs of our imports go through the roof?
@@Trythis837that's what it is, a small minority of overleveraged mortgage holders expect the majority of people to bend
over backwards to prop them up at everyone else's cost. Selfish.
@@Trythis837 Dollar crashes...LOL..The dollar will not crash and we export more goods then we import.
@@MM-xg2td there’s more to the value of our dollar than just imports and exports. For instance when our interest rates drop I’ll have to move my money to US savings accounts. If millions of people do the same that will cause the dollar to drop.
Canada has the hottest economic growth in the whole world and the best PM in human history. BOC must be hiking the interest rate, not cutting
Hahaha at least you have a sense of humor