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Washington Scales Back Regional Footprint Amid Iranian Warnings

Empty airspace over Iran, during a temporary closure of the country's airspace amid concerns about possible military action between the United States and Iran The United States has begun precautionary drawdowns at several military bases across the Middle East after Iranian officials warned neighbouring countries that American facilities could be targeted in the event of a wider conflict. The adjustments focus on relocating non‑essential personnel and reducing exposure as regional tensions continue to rise. Iran’s message to nearby states underscored its concern that any U.S. military action could spill over into the broader region. By cautioning its neighbours, Tehran signaled both its desire to deter potential strikes and its readiness to respond if provoked. U.S. officials described the moves as prudent rather than predictive, emphasizing that the drawdowns do not indicate an imminent operation. Instead, they reflect a shifting security environment in which Washington is recal...
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Canada’s economy continues to sputter in Q4 2023

According to Statistics Canada, Canada’s economy showed no growth in October, remaining unchanged at 0.0% on a monthly basis, which is below analyst expectations of 0.2% growth . This marks the third straight month where economic growth was essentially unchanged. Advance estimates for November showed that GDP increased 0.1% last month, as increases in manufacturing, transportation and warehousing, agriculture, forestry, fishing and hunting were partially offset by decreases in retail trade .

The country’s economic engine continued to sputter in the fourth quarter, according to Royce Mendes, Desjardins’ managing director and head of macro strategy. He expects the economy to post “virtually no growth” in the fourth quarter and continue to stagnate. As more households and businesses feel the impacts of higher interest rates in 2024, we expect Canada to fall into at least a mild recession. So while the economy is sputtering now, it might begin rolling backwards early in the new year.


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