Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA DATA
Today’s Q1 release for the distribution household economic accounts showed even greater income inequality, primarily on account of investment gains, in what is otherwise quite a mixed release.
- Income inequality widened further, with the gap in the share of disposable income between the top 40% and bottom 40% at its widest since 2008 (higher yields on saving & invt accounts vs borrowing costs).
- There are some mixed results even within that. Households in the bottom 20% of the income distribution saw above-average Y/Y gains in disposable income in Q1 yet the middle 60% lagged as wage gains did not keep pace with higher interest payments.
- Youngest households (<35yrs) were the only age group to continually decrease their mortgage debt balances since end-2022 on affordability concerns. As such, the debt-to-income ratio for younger age groups declined for the first time in three years.
- However, the 35-44yr old cohort has the highest debt-to-income ratio of any age group (264% GDP in Q1, but still -4pps a year earlier) and saw a new record high in the interest-only debt service ratio of 12.4% of disposable income.
Change in average household mortgage debt by age group of major income earnerSource: Statistics Canada
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok