My oh my, some folks are quick with their recession headlines. Too quick in my opinion. Not only is their math debateable, but the added issue is also what constitutes a real recession in order to merit the potentially very damaging and confidence-sapping label. I think markets saw through all of this better than some of the media coverage. Canadian two-year yields are unchanged compared to just before GDP estimates were released. They are outperforming the US front-end where the two-year yield is higher because of strong US data such as an upside surprise to the Q3 Employment Cost Index (1.1% q/q SA versus 1% ... (full story)