Quick Take
The trajectory of the 10-year treasury yield took a surprising turn as it charted a new cycle high at 4.3%. This was propelled by an unexpectedly high Consumer Price Index (CPI) print for Canada, which emerged as a significant variable in the financial landscape.
Bucking predictions, inflation rose beyond the anticipated 3.8% to reach 4%. This deviation from projected figures signifies a robust inflationary environment, underpinning the upward trend in treasury yields.
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