The Fed’s latest minutes, which Scotiabank says are "as stale as three-day-old turkey stuffing," were consistent with lower rates in 2026. And typically, the lower Fed funds go, the harder it is for the Bank of Canada to hike rates OTBE. But the meeting summary also revealed

💡See also: Mortgage Tidbits (below). Bond market volumes are expected to be thin for the final three trading days of 2025. With little on tap until Wednesday's U.S. jobless claims, yields are guided more by things like portfolio rebalancing and geopolitical headlines.

💡Keep an eye out: MLN 3.0 beta is launching next month. It'll be state-of-the-art and AI-coded, meaning we can add the features you need, often in just a few days. Watch for a survey this week to pin down which insights, data, and tools you want to

💡See also: Canada’s Economy Hits Pothole. Rate Outlook Stable Tuesday was a tale of two GDPs as Canadian growth contracted sharply while U.S. growth blasted above estimates. That immediately raised the question: Will a rising American tide lift Canada's boat, once a North American trade pact