Ontario Premier Kathleen Wynne appointed a new cabinet today, making her deputy premier the head of the Treasury Board as Canada’s most populous province looks to close a C$12.5 billion ($11.6 billion) budget gap.
Canadian long-term bond yields are falling to the lowest level in more than four years relative to U.S. Treasuries on speculation that inflation in the world’s 10th-largest economy will remain in check.
The Bank of Canada will probably keep its main interest rate unchanged for a seventh straight meeting today, as economic risks posed by indebted foreign governments outweigh concerns about quicker domestic inflation.
Atlantic superstorm Sandy may cut U.S. economic growth as it keeps millions of employees away from work and shuts businesses from restaurants to refineries in one of the nation’s most populated and productive regions.
The gap between yields on Canadian 10-year bonds and comparable U.S. Treasuries, already at the widest in almost 1 1/2 years, may widen as the difference in interest-rates between the two countries increases.