A key week for macro and earnings risk lies ahead. The US earnings season begins in earnest and what it reveals could be pertinent to macro debates like tariff pass through. The US and Canada release CPI readings at the same time on Tuesday before their respective central banks issue policy decisions on the same day about two weeks later. What US CPI may or may not reveal about tariff pressures on inflation will pit “Too Late” against “Too Early” in a battle to be continued over subsequent readings. Canada’s figures will be one of two reports Governor Macklem has emphasized before the next decision. They are likely ... (full story)