Investing.com - Financial Markets Worldwide

Canadian Yields Weather Crude Oil Fall

ByThe National Bank of Canada
Published 03/13/2017, 02:24 PM
Updated 05/14/2017, 06:45 AM
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Last week was characterized by the worst one-day correction in crude oil prices in 2017 and by job data that outstripped economists’ expectations on both sides of the border. On Friday, the eagerly anticipated U.S. jobs data confirmed the strength of the job market in the United States. After the previous week’s comments from Federal Reserve (Fed) Chair Janet Yellen to the effect that a key rate increase on Wednesday would probably be appropriate if U.S. jobs data were satisfactory, markets are now pricing the likelihood of a U.S. key rate hike on March 15 at 100%. Canadian yields weathered the drop in crude oil prices last week and appear to have been more influenced by rate hike perspectives in the United States and positive job numbers.

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