While investors braced in suspense for Friday’s U.S. inflation numbers, Trump was busy lighting up the headlines on Thursday. Not only did he impose sanctions on Russia and finally set a meeting with China's Xi, but he also cut off all trade negotiations with Canada.

That's right. Apparently, Trump didn't like a trade ad that Ontario was running in the U.S. (full story). Hopefully, Carney can blame the idea on a marketing intern or something.

It's the second time since June that Trump has called off trade talks with Canada over social media. Yields fell modestly in after-hours trading, given this new threat to Canadian growth.

Canadian yields barely budged yesterday, despite Tuesday's too-hot-to-trot inflation surprise. The more interesting tale is what we heard after the bell from Mark Carney.

Canadian inflation popped its head above 2% for the first time in half a year—2.4%, to be precise. But that wasn't the number that mattered. It was the annualized average core reading that weighed on the market’s rate-cut enthusiasm.

The highlight of Monday’s economic theatre was the Bank of Canada’s expectations surveys, which could have been better (more on that below).

Meanwhile, down in Washington, Federal Reserve officials are still wandering the policy wilderness without a data compass, thanks to day twenty of the government shutdown.

Monday's highly anticipated Bank of Canada inflation surveys came with two revelations:

1. Businesses have quietly surrendered pricing power to weak demand, despite relentless input costs. (Rate friendly)
2. Consumers are still bracing for tariff-fuelled price hikes. (Rate unfriendly)

Here’s a look at the reports' surprises and how they could ripple through to mortgage rates.

Eight years ago, HomeEquity Bank had Canada's reverse mortgage field pretty much to itself.

Today, the stage is getting more crowded with hungry rivals that include Equitable Bank, Bloom Finance, Fraction, and—as of this morning—Home Trust. The latter has officially launched "EquityAccess."

Like hawks at a bingo hall, all five of these players are eyeing the same aging demographic. To see if Home Trust brings more than enthusiasm and marketing brochures, we spoke to its VP of Mortgage Products, Nader Gorgi, for details.

Markets ended last week acting like they’d just read two different scripts—one bullish, one dovish, and both missing a few pages.