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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin tonight by taking a look at how there is a bullwhip effect impacting the economy and how monetary policy is playing its role in that effect (page 1).  We then dive into the huge drop in our quantitative assessment of the Beige Book (page 2).  Next, we recap the June update of the federal government’s budget statement (page  3), the drivers of inflation (page 4), and Canadian policy rates (page 5). We finish with a recap of the 30 year bond auction (page 6) and the latest EIA data (page 7).

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