A bumpy ride for retailers that is going sideways – CIBC
Data released on Friday showed retail sales in Canada dropped 0.1% in November, an improvement from the preliminary estimate of a 0.5% slide. Analysts at CIBC point out that some of the detail wasn’t as encouraging, and the underlying trend still shows retail sales moving broadly sideways in volume terms. They expected the Bank of […]
CIBC Capital Markets Promotes Glenn Blundell
The Canadian Imperial Bank of Commerce (CIBC) Capital Markets, one of the ‘Big Five’ banks in Canada, has promoted its long-term executive Glenn Blundell to the position of the Managing Director of Global Markets FX. “I’m happy to share that I’m starting a new position as Managing Director, Global Markets FX Trading at CIBC Capital […]
CIBC now sees the Bank of Canada hiking 25 basis points this month
Today’s jobs report showed the Canadian economy adding 104K jobs in December, far more than the 5K consensus. That follows a strong November CPI report and has the OIS market pricing in a 72% chance of another 25 bps hike at the January 25 meeting. CIBC shifted its call to a 25 bps hike after […]