The Fed's go-to inflation indicator has exceeded expectations again. The so-called "core PCE deflator," which excludes food and energy, landed 0.1% above consensus, rising 0.4% m/m and 4.7% y/y in April. That's up from 0.3% m/m and

Central bankers won't be loving Friday's employment numbers. Canada created an overspicy 41,000 jobs in April, doubling up the consensus forecast (which is wrong 4 out of 5 times, by the way, reports Scotiabank). Immigration-fuelled population growth distorts employment gains, so potent job creation isn&

Avid rate-watchers monitor interest rate spreads all the time. Among other things, spreads help project the likelihood of a recession and the path for interest rates. A spread, or "term spread," simply refers to the difference in yield between two maturities. For example, the most-quoted term spread is