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Canada’s fixed mortgage rates have plunged as investors flee into the safety of bonds in the wake of the Silicon Valley Bank collapse. With money pouring into bonds, yields (and rates) have fallen substantially since this point in time last month, as worries over the global economy continue to grow.
Links:
Canada yields take historic dive as investors bet on interest rate cuts:
https://financialpost.com/investing/canada-yields-dive-bank-of-canada-rate-cuts
Banking turmoil is adding to sense of looming economic ‘precipice.’ What’s next?:
https://globalnews.ca/news/9561290/bank-crisis-canada-inflation-economy-west-block/
72 Hours in Washington: How the Frenzied SVB Rescue Took Shape:
https://www.bloomberg.com/news/articles/2023-03-15/svb-bailout-shaped-by-biden-administration-over-72-hours
Credit Suisse: Bank rescue damages Switzerland's reputation for stability:
https://www.bbc.com/news/business-65009996
Bank of Canada joins Fed and other central banks in new liquidity measures to ease banking turmoil:
https://financialpost.com/fp-finance/banking/federal-reserve-central-banks-set-joint-liquidity-operation
After last year's stunning failure, bonds show up for safety:
https://www.washingtonpost.com/business/2023/03/17/bonds-portfolio-safety-investments/bb288b58-c4d4-11ed-82a7-6a87555c1878_story.html
February inflation likely slowed, but Ottawa still faces pressure to help Canadians in budget:
https://financialpost.com/news/economy/inflation-slowed-ottawa-faces-cost-of-living-pressure-budget
Investors rush into bonds, gold in flight to safety after SVB rescue:
https://www.cnbc.com/2023/03/13/investors-rush-into-bonds-gold-in-flight-to-safety-after-svb-rescue.html
Bank of Canada rate cut now ‘a near certainty’:
https://www.wealthprofessional.ca/investments/fixed-income/bank-of-canada-rate-cut-now-a-near-certainty/374349
Expectations of U.S. interest rate hike reverse course following Silicon Valley Bank collapse:
https://www.theglobeandmail.com/business/article-svb-collapse-interest-rates/
If you’re renewing a mortgage or buying a house, the collapse of Silicon Valley Bank is the best news in ages:
https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-if-youre-renewing-a-mortgage-or-buying-a-house-the-collapse-of-silicon/
Bond trades predict big interest rate cuts in second half of 2023:
https://www.wealthprofessional.ca/investments/fixed-income/bond-trades-predict-big-interest-rate-cuts-in-second-half-of-2023/374418
Nomura Predicts Rate Cut and QT Halt at Upcoming Fed Meeting:
https://www.bnnbloomberg.ca/nomura-predicts-rate-cut-and-qt-halt-at-upcoming-fed-meeting-1.1895035
Have interest rates peaked at 4.5 per cent? Here are three reasons they might increase next month:
https://www.thestar.com/business/opinion/2023/03/18/have-interest-rates-peaked-at-45-per-cent-here-are-three-reasons-they-might-increase-next-month.html
Fed Chair Jerome Powell: Rate hikes could accelerate if economy stays strong:
https://www.latimes.com/business/story/2023-03-07/powell-rate-hikes-could-accelerate-if-economy-stays-strong
If the Fed Fails to Raise Rates, It Will Be a Sign of Panic:
https://www.bloomberg.com/opinion/articles/2023-03-14/cpi-if-the-federal-reserve-fails-to-raise-rates-it-will-be-a-sign-of-panic
Fed Meets as Bank Chaos Collides With Inflation:
https://www.nytimes.com/2023/03/20/business/economy/fed-inflation-bank-collapses.html
Breaking: US annual CPI data declines to 6% in February as expected:
https://www.fxstreet.com/news/cpi-data-expectations-analyzing-february-us-inflation-202303140600
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