ruble dollar

Russian ruble plunges versus US dollar

Eric Garland DataLab

We’re tracking the immediate impact of the biting sanctions of the United States targeting the oligarchs of the Russian Federation as individuals. Some of the most powerful people in Russia – Viktor Vekelsberg, Oleg Deripaska, and others – have been directly sanctioned. This is extremely important as the Russian Federation has used its oligarchs as a de facto tool of …

Canada labour trends

Canadian labour trends strong, as well as wages

Eric Garland DataLab

While things are less cheery for their southern neighbors, Canada has just reported an increase in both labour participation and rising wages for the 10th straight month. This is particularly welcome news for Canada given two main threats to its economic stability. First, its reliance on raw materials – especially oil exports – means that low petroleum prices damage their …

mortgage debt trends

US households are deleveraging mortgage debt

Eric Garland DataLab

This chart from Deutsche Bank Research shows that since the financial crisis of 2008 and beyond, US households have been deleveraging their mortgage debt. This is a major reversal, and the chart shows this is the first major trend in this direction since the post-World-War-II era. US consumer credit continues to leverage up slightly. These trends combined may explain recent …

serious delinquencies mortgage

Serious delinquencies for mortgages drop to almost pre-crisis levels

Eric Garland DataLab

Courtesy of Calculated Risk, this chart shows FannieMae and FreddieMac’s reporting on serious delinquencies for U.S. mortgages in the last 20 years. While there is much speculation about whether there is an asset bubble in the housing sector, this indicator shows that the fundamentals may still be holding. The peak of the serious delinquencies occurred when it hit 4.2% in …