National house prices in Canada have now endured their largest correction dating back to 2005. Meanwhile, the Fed hiked rates another 75bps and has made it clear it wants stocks and house prices lower. Currency markets are going crazy. Buckle up, things are about to get interesting.See omnystudio.com/listener for privacy information.

Canadian household wealth fell by nearly one trillion last quarter with house prices dropping. More cheques are coming in the mail to fight inflation, and with that more rate hikes from the central banks too! Inflation is trending lower but remains sticky, and something markets will be paying close attention to.See omnystudio.com/listener for privacy information.

The Bank of Canada, Australia and the Euro zone all raised interest rates this week. The US dollar continues to strengthen, placing stress on some of the worlds major currencies. We are only six months into this rate hiking cycle but already stresses are emerging in various corners of the market.See omnystudio.com/listener for privacy information.

Twinkies are on the line, as the gents place their wagers for the Bank of Canada next week. A surprise miss on Q2 GDP in Canada suggests further weakness for Q3. No Fed pivot coming suggests more pain ahead as the bear market rally fades.See omnystudio.com/listener for privacy information.

Canadian banks announced earnings and are increasing their loan loss provisions, but likely not enough considering the outlook for the nations housing market. The Canadian dollar continues to perform well thanks to the energy bull market. Europe is bracing for a deep recession and a full blown energy crisis.See omnystudio.com/listener for privacy information.

Seasonally adjusted average house prices have now dropped the most since the 1980's. Inflation is subsiding but central banks are determined to push ahead, even if it means creating a recession. China is facing deep economic issues and cut interest rates. Inflation hits double digits in England and Germany turns on the Nuclear reactors.See omnystudio.com/listener for privacy information.

US inflation has made the turn and is now trending lower, but will it fall enough to allow central banks to pivot? Markets are ripping on potentially false hopes. Commodities continue to look favourable over the medium term, and more bearish predictions for the Canadian housing market.See omnystudio.com/listener for privacy information.

Will the Central banks cave on their inflation mandate in the eyes of weakening economic data? The Bank of England just raised interest rates 50bps and says a recession is all but guaranteed for the fourth quarter and that it will last well into next year. The Canadian housing market continues to roll over, with both Vancouver & Toronto Real Estate markets experiencing multi-decade lows in housing sales. Toronto house prices dropped nearly 4% in the month of July. Financial stresses continue to escalate.See omnystudio.com/listener for privacy information.

The US federal Reserve raised interest rates another 75bps. More interestingly is that Powell will be removing forward guidance, and all future rate hikes are now data dependent. The US then recorded the second consecutive quarter of negative GDP, indicating a technical recession. Bond yields are falling on the news, and the all important Canada 5 year bond yield is now down nearly 100bps since peaking last month, indicating an upcoming decline in fixed rate mortgages.See omnystudio.com/listener for privacy information.

CPI inflation in Canada came in at a 40 year high, but was below market expectations. Has inflation peaked from a rate of change perspective? Meanwhile, in the economic fantasy land that is the European Union, the ECB raised rates by 50bps, brining interest rates to zero. The end of negative rates in Europe is officially here. China bank runs and a property bubble threaten stability across the globe. See omnystudio.com/listener for privacy information.