Treasury two-year notes were set to be sold today at the second-highest yield at an auction of the security since 2011 on speculation the Federal Reserve will raise interest rates before the debt matures.
Kevin Tychon joined Canadian Imperial Bank of Commerce in Calgary as director of investment banking from Cormark Securities Inc., according to Vlaad and Co., a Toronto-based financial services recruiting firm.
Toronto-Dominion Bank, which has bought about C$17 billion ($15 billion) of credit-card assets since 2011, displaced Canadian Imperial Bank of Commerce as the country’s top issuer, according to the Nilson Report.
The dollar rose the most in two weeks against the yen as risk appetite swelled amid a higher- than-forecast gain in U.S. industrial production and as companies’ earnings topped estimates, damping demand for safety.
The Canadian dollar touched the lowest level in more than a week after the Bank of Canada said its next move on interest rates could be up or down as a forecast pickup in business investment has been slow to materialize.