💡See also: Mortgage Tidbits (below). Rates start the BoC's meeting week in a controlled downtrend, having shed a quarter-point in the last month. For weeks now, confidence has been circling the drain, but a Wednesday trim from Team Macklem might finally give markets the emotional support they’ve

Our southern neighbour saw initial jobless claims surge on Thursday, stealing the spotlight from U.S. inflation. And the latter rose in its own right—by the most in seven months.

💡See also: Mortgage Tidbits (below). Wednesday's eye-opening pullback in U.S. wholesale prices bolstered expectations of Fed cuts. Attention now swivels to Thursday’s U.S. CPI. It’s the last piece of the inflation puzzle before Team Powell sets the path for the planet’s most-watched policy

💡See also: Mortgage Tidbits (below). Tuesday was Dullsville in Canada's rate market. Traders resigned themselves to the sidelines, waiting for more interesting data. Unfortunately, today's revised U.S. jobs numbers did nothing to assuage their concerns.