It was a sleepy Friday for bonds. Canadian yields barely blinked after new retail sales numbers. Here were two of the catalysts moving the 5-year #GoC# on Friday, and their impact on direction.

CIBC and TD have been dues-paying members of the "shrinking discount" club. The two megabanks sliced another 10 bps off their discounts from prime rate this week. Their moves are just the latest in an ongoing trend.