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See also: Mortgage Tidbits (below).
U.S. bonds staged a rally Tuesday, and some of that momentum drifted north, dragging down our 5-year yield by 2 bps. (Bond prices and yields move inversely.)
For now, Canadas remain adrift at sea, awaiting trade or inflation clarity. Until our 5-year bond (now 2.96%) closes above 3.04% or below 2.90% (August's range), the daily 2-5 bps zig-zags we've been seeing are mostly noise.
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