AM 1150 Kelowna - Radio Rallies & Reversals
Markets got a boost this morning from successful bond auctions in Europe; An auction of Portuguese bonds due 2021 attracted bids for 2.6 times the amount offered, and an auction of Polish bonds also attracted greater demand. It was renewed concern over sovereign debt that ended the positive stock run to start the week.
The big news in Canada this morning was the Bank of Canada's decision to raise the overnight rate again by 25 basis points to 1%. While this was largely baked into the cake already, it was the accompanying message that the market was waiting for. The message could perhaps be interpreted as being more dovish, but the bias seems to be towards another rate hike at the next meeting.
GB
The big news in Canada this morning was the Bank of Canada's decision to raise the overnight rate again by 25 basis points to 1%. While this was largely baked into the cake already, it was the accompanying message that the market was waiting for. The message could perhaps be interpreted as being more dovish, but the bias seems to be towards another rate hike at the next meeting.
GB
posted by Gordon Bell at
11:15 AM
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