Canada`s inflation rate came in at 2.7%. Good news, but not much happening with bond yield yet, and not much happening with 10 year US treasuries, so that explains it. On June 5th, the Bank of Canada is meeting at 9:45am EST.
The annual inflation rate in Canada eased to 2.7% in April of 2024 from 2.9% in the earlier month, in line with market expectations, to mark the softest rate of consumer price growth since March 2021. It was consistent with forecasts from the Bank of Canada that inflation is expected to remain relatively near the 3% mark in the first half of the year before falling below 2.5% in the second half, maintaining policymakers’ signal that the start of rate cuts is “getting closer”. From the previous month, the Canadian CPI rose by 0.5%. source: Statistics Canada
