加元势头减弱，Loonie在近期上涨后继续买入。上周，加元兑美元汇率再次创下八个月新高，目前正在喘息。在过去的15个连续交易日中，除了4个交易日外，加元兑美元汇率在所有交易日都有所上涨或保持稳定，加拿大央行（Bank of Canada）的最新利率控制结束了连续七次降息，为加元竞标者提供了新的立足点。

Canadian Dollar momentum fizzles, Loonie digs in after recent gains.The Canadian Dollar (CAD) is taking a breather following a fresh push into eight-month highs against the US Dollar (USD) last week. The Loonie has gained ground or held steady against the Greenback for all but four of the last 15 consecutive sessions, and the latest rate hold by the Bank of Canada (BoC) snapped a seven-straight rate cut streak, giving CAD bidders fresh legs to stand on.

加拿大10年期政府债券收益率攀升至约3.4%，接近五个月高点，这是由于国内和全球力量的趋同推动利率预期上升。在国内，核心通胀率居高不下（削减后的平均值超过2%）和4月份意外的零售额激增说服加拿大央行将政策利率维持在2.75%，这强化了货币宽松政策仍未出台的观点。与此同时，渥太华持续的预算赤字迫使大量长期债务发行，在养老基金等传统买家寻求其他地方更高收益率之际，基准债券供应不断膨胀。在国外，美国国债收益率因强劲的就业数据和美中贸易紧张局势的重新爆发而上升，导致加拿大国债收益率随之走高，钢铁和铝关税的持续不确定性迫使投资者坚持要求为持有加拿大国债增加溢价。

The yield on the Canadian 10-year government bond climbed to about 3.4%, a near five-month high, driven by a convergence of domestic and global forces that have pushed interest-rate expectations higher. At home, stubbornly elevated core inflation (with trimmed-mean readings above 2%) and April’s unexpected retail-sales surge persuaded the Bank of Canada to maintain its policy rate at 2.75%, reinforcing the view that monetary accommodation remains off the table. Meanwhile, Ottawa’s sustained budget deficits have necessitated hefty long-term debt issuance, swelling benchmark bond supply just as traditional buyers such as pension funds seek richer yields elsewhere. Abroad, US Treasury yields have risen on strong jobs data and renewed US–China trade tensions, dragging Canadian yields higher in their wake, and persistent uncertainty over steel and aluminum tariffs, has compelled investors to insist on an added premium for holding Canadian duration.

加拿大10年期政府债券收益率升至3.39%的20周高点。在过去的4周里，加拿大10年期债券收益率上涨了18.25个基点，在过去的12个月里下降了11.70个基点。

Canada 10 Year Government Bond Yield increased to a 20-week high of 3.39%. Over the past 4 weeks, Canada 10Y Bond Yield gained 18.25 basis points, and in the last 12 months, it decreased 11.70 basis points.

标准普尔/多伦多证交所综合指数周一下跌约0.2%，至26400点以下，在上周创下历史新高后有所回落，投资者正在等待中美在伦敦的贸易谈判。在特朗普总统和习主席上周“非常积极”的通话之后，两国官员今天举行会议，希望缓解关税摩擦。科技板块领跌，电子商务巨头在周五飙升后下跌近3%，而Constellation Software和Celestica分别下跌约0.5%和1.5%。在金融方面，布鲁克菲尔德公司（Brookfield Corporation）下跌超过2%，反映出在今天的事态发展之前，人们普遍持谨慎态度。

The S&P/TSX Composite Index fell around 0.2% to below the 26,400 mark on Monday, giving back ground after last week’s record highs as investors await U.S.–China trade talks in London. Following last week’s “very positive” call between Presidents Trump and Xi, officials from both countries are meeting today in hopes of easing tariff frictions. The technology sector led the retreat, with the e-commerce mega-cap sliding nearly 3% after Friday’s surge, while Constellation Software and Celestica fell about 0.5% and 1.5%, respectively. In financials, Brookfield Corporation paced losses with a drop of over 2%, reflecting broader caution ahead of today’s developments.