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Banks Tout All-Night Credit Trades as Election Results Come In
Before the USA election, the top five busiest trades.
The 10-year U.S. Treasury yield has rebounded by about 70 basis points from the recent low, while the U.S. dollar has also rebounded by 3.3% from its low point. Bitcoin fell after hitting a historical high last week, with bank stocks and clean energy stocks rising and falling by about 5% respectively in the past month, but both reversed course on Monday. DJT has risen over 180% since its low point.
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Canada's Interest Rate Conundrum: Too Much of A Good Thing, Says TD
Bank of Canada Governor mentioned that the weakening Canadian dollar would not affect interest rate decisions, and they will continue to lower interest rates.
Bank of Canada Governor Tiff Macklem said on Wednesday that the weakness of the Canadian dollar is not a factor affecting interest rate decisions. At the time of making this statement, the Canadian dollar is currently hovering near a 20-year low. Macklem said, "We have indicated that we are prepared to cut interest rates by 50 basis points, and if we believe that further rate cuts are appropriate, we will cut rates again," referring to the decision last week to lower the policy rate from 4.25% to 3.75%. Macklem testified before the Canadian Senate that due to the Bank of Canada's four consecutive rate cuts totaling 125 basis points, the Canadian dollar has depreciated relative to the US dollar.
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