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The Canadian bond market treaded water in June. Initially, bond prices jumped higher, but they subsided later in the period. U.S. economic growth slowed, while Europe remained mired in recession and China’s economic data was, at best, mixed. For bond investors, the positive impact on bond prices of weaker economic activity was offset by optimism about the European debt crisis. In the end, slightly lower long term bond prices offset interest income and the DEX Universe Bond index closed with a meagre 0.01% gain on the month.
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