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Daily Market Commentary

Bonds had a healthy sell off yesterday as the market adjusted to the Fed's statements from Wednesday.  They are bouncing back slightly this morning, without any data to drive the market.  All this action and the bonds still appear to be range-bound (10yr Treasuries 4.75 - 4.50).  We will have to wait for existing housing numbers at 10am for any data driven action.


The CAD$ is holding onto its gains against the US$.  In fact all currencies remain higher on the week compare to the greenback.


Next week will be a big week for the interest rate and currency markets, with lots of data out to help us work out the puzzle.


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