BEFORE THE BELL: North Korea troubles putting US-China trade in question; TD and BMO face off over mortgage rates
Investor concern is growing over tensions between North Korea and the US. North Korea is putting a historic leadership meeting in question over military drills running in the south. Experts suggest if the summit is cancelled, President Trump may turn on China once again over trade issues, re-igniting the possibility of a trade war between the two countries.
On top of this, investors are also concerned about world borrowing costs rising as the US Treasury Bond yield has hit a seven-year high.
A rivalry has sparked between Canada’s big banks over mortgage rates as both TD and BMO lowered their variable rate loans to 2.45 per cent until the end of May.
The price of US crude is stable at 71.16 a barrel this morning.
The Loonie is gaining to 77.77 cents US.