ADAM MILLS REALTY TEAM

TD/ Canada Trust Economic Highlights – October 4

Highlights of the Week – October 4

United States

• Investors paid close attention to developments from the White House this week, with President Trump’s tax overhaul proposal helping to send the S&P 500 to new highs.
• Inflation disappointed again in August, but some states are beginning to display meaningful wage acceleration, as we noted in our Quarterly State Forecast this week, which bodes well for the inflation outlook.
• Next week, investors should look for hurricane impacts to inject volatility into September’s U.S. data. As a result, auto sales should see a boost while net exports should experience a drag.

Canada
• Markets were focused on a speech from Governor Poloz which marked the first major communication from the
Bank since it shifted into tightening mode. The governor noted that there are many unknowns overshadowing the
outlook for inflation, so the future of monetary policy will be highly data dependent.
• This morning’s GDP report showed that economic growth came to a halt in July – the weakest performance since last October.
• The Canadian dollar hit a 4-week low while the S&P/TSX extended its gains thanks to a rise in oil prices to over
US$52 per barrel.

For further information, please contact:

John Maveety Manager, Residential Mortgages – Greater Ottawa Area TD Canada Trust
T: (613) 371-1984 F: (888) 899-1984 P: (866) 767-5446
[email protected]