Lots of news today for the Canadian economy…
“September employment soars unexpectedly“. The headline is that we added 107,000 new jobs which is 10 times what was expected. The part I think is kinda shocking: only 10,000 were full-time jobs. The rest are part-time.
“Ottawa buying $25 billion in mortgage pools“. I’m somewhat confused why this was their move to add liquidity. Why not guarantee 100% of retail deposits like Ireland just did? That’s also big news as basically every other EU nation will have to do the same.
“Loonie continues its decline“. It’s at $1.17 on the greenback. This is the best news I’ve heard in weeks.