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Posted on June 12, 2008

The biggest news this week is the Bank of Canada s surprising decision to stand pat on interest rates. Actually, surprising is a bit of an understatement. The markets were shocked and bond yields rallied sharply. Though consumers will pay the same interest on variable-rate mortgages and personal loans that are tied to the prime rate, the rising yields in the bond markets means that we ll be paying higher rates on fixed-rate mortgages in the near future.The surprising thing about a hedge fund manager taking up Warren Buffett on his bet that a collection of hedge funds will not outperform th...

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