Government of Canada 10-year yields spent two weeks climbing toward the highest level in more than two years, touching 3.77% Friday as a hot preliminary GDP print of 3.4% annualized, above the Bank of Canada's 2.5% forecast, pushed traders to price less room for a rate cut. That climb ended Monday, as the collapse of US-Canada trade talks and Ottawa's retaliatory tariffs reset the growth math the data alone had argued against. The move shows which risk the bond market weighs more heavily heading into the September 2 decision.
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