Residential market Commentary: The afterglow of strong employment numbers out of the U.S. last week is still shining on investors. The creation of 243,000 jobs in January was more than enough to negate worries about a slight increase in unemployment on this side of the border.
Good numbers in the in the Institute of Supply Management, Non Manufacturing Index reinforced the job figures, relaxing the aversion to risk and bumping-up the yield on our benchmark, 5-year bond. Those yields remain up.
This is a relatively quiet week for market moving financial data: Canada’s merchandise trade balance and American consumer sentiment numbers are due out on Friday.