Aug
06
Bank of Canada Hawkishness Has CI Investments Favoring U.S.
By-
ate hikes may be policy mistakes but won’t fight the bank
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Boosting U.S. duration and Canadian curve steepeners
Don’t fight the central bank, the saying goes. Kamyar Hazaveh, who leads a team overseeing C$11 billion ($8.8 billion) in fixed income at CI Investments Inc., is taking it to heart.
Despite believing the Bank of Canada was wrong to raise interest rates last month, Hazaveh’s team is favoring U.S. Treasuries over their northern counterparts.
“The rate hike and subsequent hawkishness of the bank risk being a policy mistake,” Hazaveh said in a phone interview from Toronto, citing low inflation and weak business sentiment. Still, he expects the bank may raise rates again in the fourth quarter this year…
Bank of Canada Hawkishness Has CI Investments Favoring U.S.
