Rate Market Shrugs Off Mixed Employment Message

See also (below): Deadline looms for Ontario mortgage agents and brokers.

Friday's job numbers came rolling in like a pair of dice, and thankfully, the bond market didn't crap out. This month's employment double header showed some sparks, but yields fell nonetheless.

The breakdown

In Canada: +40,700 jobs (vs +20,000 consensus); unemployment rose to 5.8% (vs 5.8% consensus); average hourly wages rose 5.0% (vs 5.3% last month).

In the U.S.: +275,000 jobs (vs +200,000 consensus); unemployment climbed to 3.9% (vs 3.7% consensus); average hourly earnings slowed to 4.3% (vs 4.4% last month).

The takeaway

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