In the 50th episode of Curve Your Enthusiasm, Ian and Andrew begin the show discussing the strength in the recent Canadian GDP numbers. Ian talks about data sensitivity and the bond market, while Andrew highlights why he thinks the path to terminal matters. The co-hosts both outline why they think the Fed is more likely to take short-run terminal above long-run neutral, and Andrew discusses the work he is doing on Canadian NAIRU. The proximity to the federal budget sparks a conversation with the duo, and Ian outlines his expectations for bond issuance in the year-ahead.