February 3, 2018 | By Hank Cunningham
Performance was negative in all sectors of the bond market in January, except for high yield bonds.
U.S. two- and ten-year yields rose by more than their respective Canadian maturities. January ushered in a bear market in bonds. The bellwether ten-year U.S. note rose by thirty basis points and has tacked on another fifteen basis points after the month-end. Yield curves in the U.S. and Canada steepened for the month, albeit by a modest five basis points.