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Commentary
Canso February 2007 Corporate Bond Newsletter

The bond market is currently seeing and sawing between statistical releases, waiting for evidence of the U.S. economy weakening. The consensus view is that weakness in the U.S. housing market will spill over into the general economy and cause the Fed to ease monetary policy and lower rates in 2007. Although the U.S. economy is slowing from the blistering pace of early 2006, strong statistics increasingly belie the consensus view. Employment has stayed high and wage growth continues. Even the housing market seems to be bouncing off its lows.

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Canso February 2007 Corporate Bond Newsletter