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Everyone is watching for a rate-induced US slowdown but they're looking in the wrong place

Here's an interesting chart from BMO and speaks to a theme I highlighted at the start of the year: That other countries are more rate-sensitive than the US and would slow down first.Canada, Australia and the UK are particularly sensitive to higher mortgage rates and this chart shows some troubling trends in Canadian railcar traffic. It shows the four-week moving average down 5.6% compared to a year ago and none of the usual spring ramp up. The latest Canadian retail sales report was also soft.No... Read More

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Posted: Apr 28 2023, 13:07

Author Name: forexlive

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