They say the Fed hikes until it breaks something. Well, this qualifies. "The SVB saga has created an almost unprecedented black swan event for the bond market," RBC Capital Markets wrote today. "The 3-day decline in 2-year U.S. yields is a 7-standard deviation event back to

Those buckling under the pressure of high interest rates got a breath of fresh air on inflation today. January headline CPI dropped to 5.9% year-over-year, 20 bps below expectations. That was partly a function of monetary policy working its magic and partly due to the favourable 2022 January comparable

This is not what BoC governor Tiff Macklem wanted to see. Canada churned out an estimated 150,000 new jobs in January. That was far more per capita than our southern neighbour's 517,000 print last week, which was stunning in its own right. Today's gains