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AlphaFixe Capital focuses on fundamental analysis to guide us in our investment decisions. Therefore, you will find below the links to the most recent market comment letters that cover economic and financial topics.  

JUNE 2024

The Federal Reserve continues to push back the date when it judges that monetary easing will be required, given the risks associated with a resurgence in inflation. We cover this and other topics in our Monthly Bond Letter.

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APRIL 2024

The more fragile Canadian economy could lead the Bank of Canada to take a different path from that of the Federal Reserve soon. We cover this subject and others in this edition of the Monthly.

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FEBRUARY 2024

Investors who were betting on a hard landing for the U.S. economy now expect a soft landing and perhaps no landing at all. We cover this subject and others in this edition of the Monthly.

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DECEMBER 2023

The monetary policy transition period is beginning. Faced with the slowdown in inflation, the belligerent tone of central banks has given way to more flexibility. Some are maintaining the status quo, but others are talking about declines in 2024. We deal with this subject and others in this edition of the Monthly.

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OCTOBER 2023

Investors expect rates to fall in the first half of next year, as they believe a decline begins once the peak is reached. For central banks, the status quo once at the top is an essential step towards long-term price stability. We address this subject and others in this edition of the Bond Monthly

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AUGUST 2023

There may still be some slight adjustments to make, but the period of rising key rates is coming to an end. Have central banks raised rates too much? Will they make a U-turn soon? We cover this subject and others in this edition of the Monthly.

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JUNE 2023

Over the past year, Canada's population grew by more than 1.2 million or 3.1%, mainly due to immigration. What are the consequences of this growth on our economy and monetary policy? We cover this subject and others in this edition of the Monthly.

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MAY 2024

After two years of tightening financial conditions to combat inflation, it is time for some central banks to reverse course. This is particularly the case of the Bank of Canada and the European Central Bank. We cover this subject and others in the most recent edition of the Monthly Bond.

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MARCH 2024

Transport and parcel shipping companies can attest that the last stage of delivery, the last kilometers before the final destination, are the most expensive and complex. This is also the case for central banks with their inflation targets. We cover this subject and others in this edition of the Monthly.

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JANUARY 2024

Central banks believe that inflation and employment risks are increasingly balanced, but it is still too early to ease financial conditions. We cover this subject and others in this edition of the Monthly.

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NOVEMBER 2023

The performance of the bond market in November is worthy of an episode of crisis, yet no one is talking about a recession soon in the United States. We deal with subjects and others in this edition of the Monthly.

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SEPTEMBER 2023

Between raising rates further and risking a recession and keeping them high for a prolonged period, central banks preferred the second option. What are the consequences of this decision? We cover this subject and others in this edition of the Monthly.

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JULY 2023

The recession that everyone expected in 2023 continues to be postponed, as the economy proves more resilient than expected. We cover this subject and others in this edition of the Monthly.

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