The attached chart captures a quiet but important shift in Canadian rates this year. Coming into 2026, yields drifted lower in an orderly way, led by the front end, as markets leaned toward slower growth and a patient Bank of Canada. The curve stayed positively sloped, and duration was rewarded. That changed in late February. […]
Following the March FOMC and Bank of Canada meetings, central banks remain on hold, but markets haven’t waited. Front-end yields have continued to rise, reflecting not just geopolitical risks and higher energy prices, but also rebuilt inflation risk premia, reduced confidence in near-term easing, and ongoing fiscal uncertainty. The clearest signal has come from the […]
I asked the same question last year. 57% 80/20; 17% 70/30; and 27% 60/40 were the answers. Hostilities with Iran starting Feb 28, 2026, kicked off spikes of volatility, suggesting now might be a good time to remind ourselves of the importance of diversification, and to maintain a long-term perspective. “This time is different” always entails […]