United States indexes closed at records on October 6 while the Canadian index remained about 3.5% below its own record, a gap that opened as Canadian yields rose ahead of the October 28 Bank of Canada decision. Since the rebasing date the Nasdaq has gained 5.62% and the S&P 500 1.87%. The S&P/TSX 60 VIX reached a six-month low, so the divergence is not showing up as stress in Canadian volatility gauges.
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