Investment Advice on the Radio

The Bank of Canada left rates unchanged at .25% but it's tone is hawkish and it became the 1st of the Group of seven to signal it will raise rates. The Bank stated our economy is recovering faster than expected, anticipating inflation to be 2% when numbers come out on Friday. Prior to this most analysts expected a hike in July but you may see some revissions. Yields on overnight index swaps rose suggesting an 86% chance of a June rate hike.
In the markets, bonds are selling off, the Canadian dollar is on the rise and stocks are in the green. Earnings are boosting stocks as the cloud of volcanic ash lifts from Europe. So far in the U.S. we have had a strong start to earnings reports. According to Credit Suisse, only 10% of S&P 500 companies have reported so far but 83% have reported positive surprises.