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Global bond markets, including that of Canada, were dominated in June by the run-up to and the aftermath from the British referendum to leave the European Union. The uncertainty regarding the impact of the negative referendum vote caused investors to buy sovereign government bonds as a safe haven. The yield of 10-year German Bunds, for example, fell below zero, ending the month at -0.13%, while 30-year U.S. Treasury yields closed at an all-time record low of 2.28%. Canada Bonds also benefitted from the flight to safety bid, as Canada’s AAA rating proved attractive to investors. The FTSE TMX Canada Bond Universe returned 1.77% in June, the best monthly result since January 2015. (more…)