The latest from RateLand

Washington's political establishment is nearing a resolution on the debt ceiling fiasco. With a bit of last-minute horse-trading, Congress should be able to lift the debt limit by the Treasury Department's revised June 5 deadline.

That should hopefully remove some upward pressure on U.S. yields, which have combined with CPI concerns to take Canadian fixed rates higher.

"The bulk of the recent back-up in Treasury yields has been in real yields, not in the implied inflation premium," BMO said Friday. Translated into English, this suggests that U.S. debt and spending concerns have been significant rate drivers as of late.

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