Facing pressure from economists to restrain government spending, Canada’s Finance Minister promised to hold the FY2023-24 deficit below C$40.1 billion, but the country’s parliamentary budget officer now expects to run a C$46.8 billion deficit this fiscal year.
Chinese investors’ enthusiasm is helping China’s dollar bonds trade at lower yields than U.S. Treasuries—a historical anomaly because the U.S. securities have historically been considered the safest of investments.
Chicago Federal Reserve President Austan Goolsbee says that although the Fed will take its time reducing interest rates, the end result will be much lower rates if inflation stays near the Fed’s target.
