Canadian Finance Minister Joe Oliver named former Canadian Imperial Bank of Commerce investment banker Daniel Nowlan as chief of staff, said a person familiar with the matter, who asked not to be identified because the appointment isn’t public.
Treasuries rose, with 10-year yields reaching an almost four-week low, as Federal Reserve minutes damped bets policy makers were considering accelerated interest-rate increases and a decline in Chinese exports boosted safety demand.
Treasuries rose, pushing 10-year note yields down for a fourth day, after the U.S. sale of $30 billion in three-year debt attracted the most demand in more than a year from a group of investors that includes pension funds and insurers.
Canadian stocks fell, snapping a four-day rally, as raw-material shares paced declines amid losses in copper and gold while Hudson’s Bay Co. said its Lord & Taylor stores’ sales didn’t rebound as expected.
The difference between the yields on five-year notes and 30-year bonds narrowed to the least since 2009 on bets the Federal Reserve ends stimulus and raises interest rates sooner than forecast as the economy strengthens.