DLCG had its 7th annual State of the Union on Wednesday. Among the highlights, the company revealed a shiny new exclusive A-lending partnership. It also said it's making a full-throttle commitment to AI, a technology that's gone from futuristic to table stakes in record time.

💡See also: Mortgage Tidbits (below). It’s been a bruising week for bonds. Political theatre in the U.S. and Japan jolted a global bond market already tense about Greenland.

With U.S. markets shut on Monday, Canadian CPI grabbed all the spotlight. Inflation proved just contradictory enough to confuse people, including the BoC.

December’s inflation bump caught forecasters off guard, but underlying inflation measures told a less coherent story. The prevailing interpretation leaned dovish, a conclusion that smells suspiciously of groupthink. As is our unfashionable but effective custom, we took a little more time to look at all the evidence before committing.