Canadian Bond Yields Pull Back from 2-Year High on Tame U.S. Inflation

The Canadian 10-year bond yield retreated from its 2-year high after U.S. inflation data was released, showing tame consumer prices in July.

According to TD Securities senior macro strategist Robert Both, Canada's 10-year yield has climbed about 17 basis points over the past month, outperforming other G7 sovereign debt.

The Canadian dollar, also known as the loonie, held near a two-month high against the U.S. greenback at around 1.3940 per dollar.

Domestic data showed that building permits rebounded by 18.5% in June, led by the non-residential sector.