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5yr Yield -3 Bps on Soft U.S. Job Numbers

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See also: Mortgage Tidbits (below).

Markets were rattled on Wednesday after ADP employment data revealed a more serious contraction in U.S. jobs than anticipated.

The surprisingly soft data made next week's Fed cut even more likely. And while Canada’s own chance of a December trim remains somewhere between slim and never, heightened expectations of U.S. easing still tend to tug our yields lower.

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