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Budget Day 2026: What a $63B+ Deficit Means for Your Wallet

  Canadian Money Brief • Thursday, November 5, 2026 Ottawa tables its second Carney-era budget today. Almost everyone expects big spending. Hardly anyone expects it to help their own bank account. Here is what the numbers say, and what to do about it. Finance Minister François-Philippe Champagne says today’s budget is about “changing Canada’s growth model”: less reliance on the U.S., more building at home. That is a big-picture pitch. Your household budget is a small-picture problem, and a new Abacus Data poll shows the gap between the two is wide. The poll in one line: only 10% of Canadians expect Budget 2026 to make their household better off. 30% expect to be worse off, and 48% expect little difference. (Abacus Data, 1,809 adults, Oct. 30 to Nov. 3.) The deficit, in plain numbers The Parliamentary Budget Officer (PBO) is the government’s independent fiscal referee. Its latest outlook, which predates the budget and only counts measures already announced, sets the stage: PBO proj...
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US stocks rebound from inflation shock as investors eye Fed comments, earnings



US stock futures rose on Wednesday, looking to recover from a sharp selloff triggered by hotter-than-expected inflation data that dashed hopes for interest-rate cuts before the summer.

Dow Jones Industrial Average ( ^DJI) futures added 0.2%, signaling a bounce back for the blue-chip index from a 500-point drop and its worst day since March 2022. Futures on the S&P 500 ( ^GSPC) put on roughly 0.4%, while those on the tech-heavy Nasdaq 100 ( ^NDX) jumped 0.5% — also on the heels of steep declines.

Investors were gripped by the wild fallout from a typo in Lyft’s ( LYFT) financial update late Tuesday. Shares in the ride-hailing company initially rocketed 67%, but the rally lost steam after Lyft corrected an error in its statement that boosted its profit outlook. The stock remained up a more modest 20% in premarket trading.

A new wave of earnings reports also could deliver some impetus, with Cisco ( CSCO ), Kraft Heinz ( KHC ), and Warren Buffett-linked Occidental ( OXY) among the big hitters on the list.

Comments by Fed officials Austan Goolsbee and Michael Barr in their appearances later in the day could provide more grist for the ever-present debate on rate timing.

Investors are coming to grips with the prospect of the Federal Reserve holding fire on rate cuts until later in the year — and a potential “no landing” scenario for the US economy.

The latest inflation reading showed consumer prices rose more than expected in January, increasing the odds of a “no landing” outcome, which would be a failed attempt of the Fed to quell inflation but, ultimately, would not result in a recession.

Bets on a March interest rate cut are now all but gone. Pricing on the CME FedWatch Tool now places a 39% chance the Fed cuts in May, down from a 67% chance just a week ago.

“In our view, a March cut is now firmly off the table and the chances of a May cut have significantly reduced. But we remain comfortable with our call for rate cuts to begin in June,” Bank of America US economist Stephen Juneau wrote in a research note on Tuesday.

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