Chart Of The Day: So Is That The 50Y Or The 2Y Yield?

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:

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):

CanadaYields

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?

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