Well, that didn't take long. Turns out the quickest route to a Canadian policy reversal is a Trump tweet and a whiff of recession. After Trump threatened new tariffs over Canada’s digital services tax (DST), Carney pulled the plug faster than a fire marshal at a pyro

GDP dips, inflation expectations drop, Trump threatens Canada again... What more could low-rate lovers ask for on a summer Friday?

💡See also: Mortgage Tidbits (below). Economic storm clouds gathered over North America on Thursday, and yet, our 5-year GoC yield slipped just two ticks. Here were the forces steering it.

Despite a modest dip in U.S. yields, Canada's climbed like they had premonitions of fiscal irresponsibility. And they weren't wrong. Here's a rapid-fire look at what moved Canada's 5-year on Wednesday, and in which direction...