Trump Blockade, Macklem Comments Cause Canada Bonds to Tumble

Canadian government bonds were hammered after the Bank of Canada’s top official raised the prospect of back-to-back rate hikes if energy prices cause broader inflation — just as oil was spiking.

The central bank held its policy interest rate steady at 2.25% for a fourth consecutive meeting and delivered a mostly neutral message, saying the current level is about right to support growth and keep inflation in check.