💡See also: Mortgage Tidbits (below). Bond markets began the week torn between AI euphoria and economic realism. It started with record-breaking stock gains coaxing investors out of safe havens like 5-year bonds. Then came BMO's sorry-looking Canadian growth forecast, which reminded everyone that even optimism here comes with

With America's shutdown dragging on and its marquee payrolls report in limbo, Canada's 5-year yield climbed 2 bps on Friday. For the week as a whole, however, it slid 5 bps. Looking ahead, rate markets will watch tomorrow as our Prime Minister goes back into the

💡See also: Mortgage Tidbits (below). With the U.S. government entering day two of its shutdown, there's no end in sight. Markets are forced to divine macro trends the way gamblers pick horses: with plenty of faith and not much data. All federal data releases—including weekly jobless

💡See also: Mortgage Tidbits (below). With Washington “closed until further notice,” bond markets are left scavenging for clues in private-sector data. First out of the gate was Wednesday's ADP payroll report. And let’s just say, if this were a movie, critics would be walking out at intermission.