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CANADA GIVING UKRAINE CAD650 MILLION OVER 3 YEARS

FED'S DALY SAYS PATIENCE IS A PRUDENT STRATEGY RIGHT NOW

MNI BRIEF: ECB “Can’t Rule Out Cuts” On Latest Info - De Cos

EZ/UK T-Bill Calendar: Germany And France To Issue On Monday

MNI: US SEP FLASH S&P MANUF PMI 48.9 (FCST 48.2); AUG 47.9

MNI: CANADIAN JUL RETAIL SALES +0.3%; SALES EX-AUTOS/PARTS +1.0%

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

Weaker Shelter, Especially Lodging And With OER Softest Since Aug'21

US DATA
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  • Shelter CPI inflation slowed from 0.43% to 0.29% M/M in August.
  • OER weaker than expected: 0.38% M/M after last month’s surprise increase to 0.49% M/M. Analysts seen beforehand had averaged 0.43% M/M. It’s the softest since Aug’21.
  • Primary rents stronger than expected: 0.48% M/M after last month’s 0.42% M/M. Analysts seen beforehand had averaged 0.41% M/M.
  • The heavier weight of OER means that the OER + primary rent contribution to core eased from 0.20 to 0.17pps.
  • Lodging away from home: -3.0% M/M after -0.34% M/M in July, the main downside surprise in shelter with some analysts looking for small declines.
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  • Shelter CPI inflation slowed from 0.43% to 0.29% M/M in August.
  • OER weaker than expected: 0.38% M/M after last month’s surprise increase to 0.49% M/M. Analysts seen beforehand had averaged 0.43% M/M. It’s the softest since Aug’21.
  • Primary rents stronger than expected: 0.48% M/M after last month’s 0.42% M/M. Analysts seen beforehand had averaged 0.41% M/M.
  • The heavier weight of OER means that the OER + primary rent contribution to core eased from 0.20 to 0.17pps.
  • Lodging away from home: -3.0% M/M after -0.34% M/M in July, the main downside surprise in shelter with some analysts looking for small declines.