The Daily Chase: OPEC+ opens the taps (barely); Rate hikes hammer home sales

​The choppy oil trade continues this morning ahead of OPEC+’s first meeting since U.S. President Joe Biden sat down with Saudi Crown Prince Mohammad Bin Salman to make the case for more output.

DEEP FREEZE HITS HOUSING MARKETS

We’re in the middle of the monthly data dump from the country’s largest housing markets. Yesterday, it was Calgary, where home sales sank almost 21 per cent sequentially. Today, we’ll get the Vancouver numbers. Tomorrow, it’s Toronto, where preliminary numbers from broker John Pasalis show sales at a 20-year low. The bite from higher interest is becoming more clear by the day. 

ANOTHER CEO MEA CULPA AS WORKERS PAY THE PRICE