Author: Robert Jessi

The Katayama–Bessent call matters because Treasury support would change intervention from a Tokyo-only defence into a broader warning on dollar strength. Takeaways is back near the July 2024 high around 161.95, turning a yield trade into a policy-risk trade. August 2024 remains the carry trade’s VaR scar tissue, but the ingredients for another full-scale unwind are not yet aligned. The Katayama–Bessent call matters because Treasury support would change intervention from a Tokyo-only defence into a broader warning on dollar strength. The real risk for late USD/JPY longs is not a repeat of the 2024 tsunami. It is a sharp tactical…

Canada’s inflation rate accelerated above the Bank of Canada’s target band in May, yet markets remain convinced policymakers will leave rates unchanged. With bearish CAD positioning becoming …

Step back into the excitement and pride of Canada’s first Olympic Games as the Bank of Canada Museum opens Montréal 1976: The legacy of the Olympic coins. This new exhibition explores how special collector coins helped fund the Montréal 1976 Olympics and became enduring symbols of national ambition and artistry. Marking the 50th anniversary of the Montréal Games, the exhibition tells the remarkable story of one of the largest and most ambitious commemorative coin programs ever created. Between 1973 and 1976, Canadians supported the Games by purchasing specially designed silver and gold coins—turning public enthusiasm into a powerful fundraising effort…

USD The dollar extended its post-FOMC ascent on Tuesday, the climbing around 0.4% to a fresh one-year high near 101.4. June flash S&P Global PMIs did little to dent the bid: the manufacturing gauge jumped to 55.7, its best since May 2022, though softer employment components capped the upside. As we have argued since Chair Warsh’s debut, the greenback’s strength owes more to the hawkish reading of his stripped-back communication than to the incoming data. Middle East headlines stayed two-sided: Washington’s 60-day oil sanctions waiver and recovering Strait of Hormuz traffic dragged to three-month lows, yet Iran’s parliament speaker insisted…

Since there isn’t a clear deadline, and it’s not exactly a fun topic to think about, many Canadians are still without a will. But if you’ve spent years building your life, your wealth, and your family’s future, a will is one of the simplest ways to protect it. What does a will actually do? A will is often misunderstood as a complicated legal document full of technical jargon, but at its core it’s surprisingly simple. It answers three key questions: Who handles everything when you’re gone? (Your executor) Who gets your assets? (Your beneficiaries) Who takes care of your children…

Absci prices $100 million stock offering to fund drug programs

Equity turmoil is adding to the dollar’s strong momentum, which is also benefiting from hawkish Fedspeak. The ECB’s Lane tried to readjust communication on the hawkish side after Lagarde’s comments on Monday, but poor German PMIs aren’t helping the euro’s case. In Australia, hot core inflation points to a hawkish RBA, even if we don’t expect any more hikes USD: Hard to Pick a Top The tech-led equity sell-off has started to significantly spill over into FX. Since the sentiment jitters originated in Asia and are centred on semiconductor stocks, the Aussie and Kiwi dollar have been hit hard, alongside…

Gold (XAU/USD) recovers slightly from a nearly two-week low, around the $4,050 region, touched earlier this Wednesday. The commodity, however, sticks to its bearish bias for the second straight day – also marking the fifth day of negative move in the previous six – and seems vulnerable to weaken further amid sustained US Dollar (USD) buying.In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, shot to a fresh high since May 2025 on the back of Federal Reserve (Fed) rate-hike expectations and the global flight to safety. The US central bank struck a hawkish…

Canada’s inflation rate accelerated above the Bank of Canada’s target band in May, yet markets remain convinced policymakers will leave rates unchanged. With bearish CAD positioning becoming …

Introduction Good afternoon and thank you for the invitation. It’s a pleasure to be here with Paris Europlace and the Chambre de commerce France-Canada. Six weeks ago, I was here in Paris with G7 finance ministers and central bankers. Much of our meeting focused on the conflict in the Middle East and its implications for near-term growth and inflation. The US-Iran agreement signed last week is a very welcome development and global energy prices have begun to come down, though much remains to be worked out. We also discussed medium-term growth. We expressed concern that global imbalances are widening again, with some countries running large deficits…