April 17, 2023

Stocks mostly moved somewhat higher on Monday as the S&P 500 and the Toronto stock excahnge were each up 0.3%.

Shopify was strong with a 4.8% gain.

Bank of America was up 2.9%.

Tomorrow, the March inflation number for Canada will be reported and it is expected to show that inflation is cooling.

Meanwhile the yield of the Canada 5 year bond is back up to 3.3% meaning it has retraced about half the decline that occurred last month with the panic over the U.S. bank failures. This likely means that mortgage rates will not be declining in the next month or so. Right now might be a good time to lock in a pre-approval for those looking to buy. 

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