It was such a dead calm with rates on Monday, we could’ve replaced our lender tracker with a virtual lava lamp, and nobody would've missed anything.

As markets await Canada's election result, our 5-year bond is about as lively as a Tuesday night curling match.

Meanwhile, democracy waits for no one, except people on the West Coast. The last polls in B.C. close at 10 p.m. ET. Given that Canadian yield data isn't readily available after hours, that means we'll have to wait to see how bonds react in the morning.

Election aside, the main directional influences for Canadian yields today were:

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.