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The Canadian bond market extended its four month decline as it fell sharply in early September, but rallied back over the balance of the month to finish with modest gains. The initial selloff reflected improving economic developments, as well as the easing of geopolitical tensions regarding Syria. The late-August rally was completely reversed and by mid-September long term Canada Bond yields rose to their highest levels in two years. The subsequent rebound in bond prices and decline in bond yields was spurred by the U.S. Federal Reserve’s decision not to taper its bond purchases. The DEX Universe gained 0.52% in the month.
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