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Market Commentary

Despite bond-friendly data, bond prices fell yesterday with all fingers being pointed at Fed Chairman Bernanke's upbeat comments which served to counter his predecessor, the master of obfuscation, who mused about the possibility of a recession as opposed to the probability of a recession! We do not miss him at all.

 

 This morning, a veritable slew of data has been judged to be bond-friendly and the world benchmark, the US 10 year note, is up almost a half point.

 

A shockeroo in the numbers was a sharp decline in Canada's current account surplus from a forecast $6.2 billion to a reported $ 3.0 billion. Frozen in the headlights, currency traders have not knocked the loonie lower yet.

 



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