Canada's 10-year yield has eased for four straight sessions since touching its highest level since April 2024 on August 21. The retreat began the same day Canada confirmed retaliatory tariffs on C$27.6 billion of US goods, overriding a July Labour Force Survey that showed the economy adding 75,000 jobs. Bond yields typically fall when investors expect weaker growth, and the market's read is that trade war risk is currently outweighing strong domestic data ahead of the Bank of Canada's September 2 decision.
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