Overview

• Two in three Canadians believe Prime Minister Justin Trudeau's government is failing to introduce effective policies for housing affordability, according to a new poll by Nanos Research for Bloomberg News.
• Despite recent initiatives by the Trudeau government, including the appointment of a new housing minister and the unveiling of millions of dollars for cities to expedite dense housing construction, Canadians' confidence in these policies remains low.
• Global shares are on the rise, with Wall Street nearing a record high and Tokyo's benchmark finishing at a 34-year high, amid growing hopes that the Federal Reserve has successfully cooled the economy to control inflation without causing a recession.
• A forthcoming U.S. inflation report is expected to show a soft inflation reading, largely due to declines in the goods sector, which could support Federal Reserve policymakers' efforts to reduce inflation.
• Despite recent disinflation progress, underlying CPI inflation is estimated to be closer to 3% than the Fed's 2% target, suggesting that the disinflationary impulse for core goods may fade in the second half of the year as firms complete destocking excess inventories.