U.S. CPI Heat Up. Canadian Rate-Cut Hopes Cool Down

Also in this edition:
• The Value Zone
• eHOME is Back
• Mortgage Bytes

Canada's 5-year yield has been on a comeback tour, giving up more than half of its downward progress since the October high. It's now surged 64 bps in six weeks, and fixed mortgage rates might finally follow suit.

Canada's 5-year government yield (Source: Refinitiv Eikon)

What's kicking up this dust? Inflation worries. The market crowd is losing faith in the 'next move is a rate cut' theory—or at least in the 'rate cut by summer' theory.

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