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Desjardins: More Inflation Progress Than Initially Meets The Eye

CANADA

“This is exactly the type of progress that central bank officials have been waiting to see. If the door wasn’t already shut to additional rate hikes, it now should be. The market hasn’t moved much on the numbers, with yields lower before the data were released. However, looking at the core readings, we believe there’s more progress than initially meets the eye in the headline numbers. We continue to see room for shorter term bond yields to fall further.”

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