The Donald won't be happy. As almost unanimously expected, the FOMC left its target rate at an average of 4.375%.

Canadian rates barely moved after today's 2:00 p.m. ET Fed decision. The reason: Fed Chair Powell's messaging was as revelatory as reruns of "The National"; markets had seen this episode before. Nonetheless, we did spot a few subtle but important twists in

Trump and Carney's much-anticipated first encounter is over. In a display of diplomatic restraint, the two leaders managed a meeting that was both productive and devoid of verbal fireworks, so that's a positive. Here are some of the highlights, complete with mortgage implications:

Canada's bond traders began the day fidgeting like they’re waiting for a dentist appointment. Canadian markets were almost singularly focused on news out of the Trump-Carney summit. The noon-time faceoff in Washington, D.C. started high-stakes negotiations that could take Canada's bond yields on a