The Saretsky Report for November 2019 is available to read here: The Bank of Canada suggested they would be keeping rates on hold for now, and suggested they are more than happy to diverge from the Fed. The following day, Canada shed the most monthly jobs (71,000) since 2009. Bank of Canada Governor Stephen Poloz also said he will step down when his current term expires in June 2020.
The reflation trade continues to boost financial assets. The latest Black Knight home price data: Annual gains of 4.25% in Oct from Sept’s 3.9%, the largest rise in more than 6 years to a 9 month high. Average home price rose 0.33% month on month, nearly 6X 5-yr average for the month of October & the largest single-month increase for any Oct since 2005.
In Vancouver, home sales bounced 55% from last year and the rate of change of home prices declines slowed.
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