The Government of Canada 10 year yield climbed to 3.74% Thursday, a level within reach of its multi year high, even after the US Treasury's expanded debt buyback briefly pulled American yields lower earlier in the week. Canadian yields kept rising through that same window on a domestic driver, an acceleration in headline inflation to 3.0% in July. The divergence shows Canadian long yields do not reliably follow a US intervention, even one that briefly worked south of the border.
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