There were no major economic releases on either side of the 49th parallel last week, so this week’s post will be short. Government of Canada bond yields finished lower last week, and for at least the time being, US and Canadian bond-market investors appear to have fully priced in the higher-for-longer consensus view. Despite that, Canadian lenders continued to raise their fixed mortgage rates, in part to catch up to the recent bond-yield run up but also to absorb the higher risk premiums being demanded by investors. This week Statistics Canada will provide its GDP estimate, for June, and it will confirm how our economy is holding up after experiencing the sharpest series of rate increases in more than thirty years. I’ll circle back on that next week, […]