We’re going to keep writing about today’s BoC rate hike because as noted earlier, it’s more important than most stories that contain the word “Canada.”
If you missed the first two posts on this, you’re encouraged to read them here:
- Bank Of Canada Hikes Rates, Loonie Surges To Fresh Two-Year High
- Consider This A Preview: Don’t Ignore Canada’s Rate Hike
In that latter piece, we noted that the yield on Canada’s 2Y bonds was flying, up more than 7bps. Well, with that in mind, consider the following chart from Bloomberg’s Luke Kawa (important FYI: he wears socks with the Canadian flag embroidered on them on special occasions):
As Luke writes on Twitter, “the Canadian 2-year yield is within ~10 basis points of what the 50-year yielded 14 months ago.”
But hey, what’s 48 years and 10bps between friends, right?
***************************
