Canada's 5-year yield tiptoed upward as markets braced for Thursday’s data deluge. Otherwise, the day's trading had all the excitement of a beige wallpaper convention.

Here's what nudged Canada’s 5-year yield on Wednesday, and in which direction.

Canada's fruity-named brokerage network, Pineapple Financial (ticker: PAPL), has lost about 96% of its stock value since its IPO.

This week, its share price belly-flopped into single-digit pennies for the first time.

The bond market exhaled after April’s U.S. inflation data showed tariffs hadn’t yet jacked up price levels—though that’s more a temporary reprieve.

Most economists continue to think recession is a bigger risk than inflation. But that chapter isn't yet written, especially with supply chain snarls making headlines.

Here's a broader look at what played on Canada's 5-year yield on Tuesday, and in which direction.

The tariff wars aren't blowing up U.S. prices just yet, at least not based on April's official data. But economists say: wait for it.

Here are the latest readings:

• CPI m/m: 0.2% (est. 0.3% | prior -0.1%)
• CPI y/y: 2.3% (est. 2.4% | prior 2.4%)
• Core CPI m/m: 0.2% (est. 0.3% | prior 0.1%)
• Core CPI y/y: 2.8% (est. 2.8% | prior 2.8%)

Here's what analysts said:

BMO came out last week saying 67% of Canadians are waiting for lower rates before buying a home. It's like a newbie poker player convinced they'll be dealt a royal flush if they wait just long enough.

But is this collective hesitation economic brilliance, or merely financial wishful thinking?

Apart from the facts that...

• market timing is a crapshoot
• rates could escalate in the meantime, and
• holdouts might find themselves in a bidding frenzy with fellow hesitators when sentiment shifts...

...there's another vital truth people are missing.

These days, there's nothing like a publicized trade deal to put a hop in the market's step.

The U.S. and China have agreed to a 90-day truce on most (not all) tariffs and non-tariff measures. This ceasefire was enough to reverse Friday's dip in our 5-year yield from Canada’s feeble jobs report.

Here's what else had yields twirling on Monday, and in which direction:

The bad news: Mortgage renewals in 2025-26 are set to deliver a financial sting, as outlined in the BoC's latest Financial Stability Report (FSR).

The good news: In most cases, it'll sting more like a red ant than a bullet ant. ← Click here to see a not-so-smart man challenge a bullet ant.

The FSR gave us six mortgage tidbits worth chewing on. Here they are:

Friday's news pushed and pulled Canadian bonds in two directions, but gravity won. Here's how the strings were being pulled: