"Inflation is coming down…. It's going to be 3% this summer, we think."—Bank of Canada's Tiff Macklem Canada's 5-year yield rose five bps last week, nothing major. Spunky jobs data was the main reason. Employment reports are backward-looking, however, while markets

The U.S. Federal Reserve gave no indication it was pressing the pause button after Wednesday's 25 bps hike. Instead, it said the next best thing. "A decision on a pause was not made today," Jerome Powell remarked in his press conference. But "We feel

💡In brief: It could be a climactic week for rates on multiple levels (the Fed hike, employment reports, banking stresses, etc.). Borrowers needing financing through August should be prepared to lock rates quickly if bond yields spike, although that's not the expectation. The Fed's likely and

Fixed-mortgage funding costs eased this week—ever so slightly. The impetus was two-fold: 1. continued blow-over of U.S. banking worries, and 2. more signs of disinflation (among other things, average core inflation slid from 4.8% to 4.5%, and preliminary March retail sales estimates looked grim).