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For the second consecutive month, Canadian bonds experienced a sharp selloff in the first half before recovering during the second half. Unlike August, however, bonds actually closed higher in price and lower in yield by the end on the month. The net change was not, in fact, very large, but the volatility was significant. As can be seen in the following chart, benchmark long term Canada bonds traded in a wide 6½ point price range, before closing only a ¼ point higher on the month. The DEX Universe Bond index returned 0.67% in September.
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