WEALTH Matters — SuMMER 2013

INTEREST RATE TRENDS

GIC Rates and Bond Yields both increased in the second quarter, even though the Bank of Canada and the US Federal Reserve both held their benchmark rates steady. The bar chart compares rates on 1 to 5 year GIC terms over the past few years. Rates on 1, 4, and 5-year terms increased about 0.1% over the quarter. You can see that the shortest rates are now higher than they were 4 years ago, but longer terms are still a ways below their levels of 18 months ago. (Source: Cannex)

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Interest Rate Trends

Investment Market Commentary

The Bernanke SCare of 2013

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The line graph shows the yields on Government of Canada Bonds with terms to maturity of 3 to 5 years (Source: Bank of Canada). Here the increase in yield was closer to 0.5% over the quarter. Bond prices dropped on comments from the US Federal Reserve that it planned to reduce its regular bond purchases as the US economy strengthened. In the few days since the end of the quarter, bond prices have recovered somewhat, settling the yield down again.

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