There are 2 big concerns in Canada

As PIMCO expected, the Bank of Canada (BOC) cut the overnight lending rate by 0.25% to 0.50%, the second rate cut this year. Our baseline forecast is that this will be the last rate cut for 2015.

This forecast is based on PIMCO’s view that oil prices will end the year about $5–$10 higher than they are today (we expect WTI in the $55–$60 range). We also see the U.S. economy recovering from its weak start to the year and for growth over the next 12 months to average around 2.5%–3.0%...

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