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The Canadian bond market focussed on domestic considerations in May, rather than foreign ones. Weak economic data and lower expectations for future growth prompted a rally in Canadian bond prices and a decline in yields. Canadian bonds often take their lead from U.S. bonds, but in May Canadian bonds ignored higher U.S. yields brought on by speculation of an imminent interest rate increase by the U.S. central bank, the Federal Reserve. The FTSE TMX Canada Universe Bond index earned 0.91% in May. (more…)