The Bank of Canada today announced that it was raising its overnight lending rate by 25 basis points to 50 basis points. The doubling of the price of money is the first hike in North American by a central bank since the Great Recession ended.
Daily Archives: June 1, 2010
THE MAULING IN MAY
May was the worst month for the major asset classes since the dark days of February 2009. Virtually everything suffered with more than trivial losses. Treasuries were the exception, thanks to the revived rush to safety. In turn, that helped prop up broad investment-grade bond indices. Otherwise, the red ink last month is a sign that the big, easy gains in everything is over.