Canadian inflation data did not provide any new insight into the state of the economy. CPI was down YoY in April, as expected, and deflation remains a risk but no more of a risk than prior to the data. The Canadian dollar is stronger by 0.3% this morning as sentiment has once again turned positive about the state of the global economy. Tuesday was a down day for risk assets as prices in all asset classes continue to fluctuate in unusually wide margins. Today’s optimism is driven in part by earnings seasons out of the US on some of the bell weather stocks. Equities and oil are also up again on that view as well.
