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Consumer Confidence Decline Gathers Pace

CANADA
  • The resumption in the deterioration in Nanos consumer confidence gathered pace last week, falling from 46.5 to 45.8.
  • It's close to July’s low of 45.5 for lows since 2008 barring the depths of the pandemic.
  • Broad-based declines across historical personal finances, current job security and expectations for the economy and real estate values.
  • Despite that, GoCs see underperformance to Tsys across the curve with 2Y +1.7bp and 10Y +6.1bp on Friday’s close.

Bloomberg Nanos ConfidenceSource: Bloomberg

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