After hitting a 28-month high last week, Canada’s five-year bond yield, which closely correlates with fixed rates, fell about 13 basis points. But don’t uncork anything yet. Of all the changes to leading rates in the last seven days, only one was a cut: the one-year fixed for default-insured borrowers, which slipped five basis points to 4.44 per cent. Every other move was up, writes Robert McLister.






