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Big Budget Incoming. Batten Down the Yield Hatches

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See also: Mortgage Tidbits (below).

Bond rates moved higher on Monday, buoyed in part by manufacturing data that surprised on the upside.

More important is the scene being set for Tuesday’s federal budget release. Finance Minister Champagne claims it'll move Canada “from reliance to resilience” and “uncertainty to prosperity.”

Unfortunately, every time a Finance Minister uses inspirational nouns in sequence, a credit rating analyst gets chest pains.

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