Canadian Stocks and Dollar Fall, Bonds Rally After Brexit Vote
- Great-West Life, Concordia lead declines as gold rallies
- Canadian dollar pares loss to drop most since January 2015
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Canada’s currency fell with its stocks while bonds rallied after Britain’s decision to secede from the European Union spurred concern the global recovery will falter.
The yield on the Canadian government 10-year bond fell 13 basis points to 1.163 percent as investors sought refuge in fixed income. The country’s currency declined 1.85 percent to C$1.3012, after earlier falling the most in six years. The S&P/TSX Composite Index dropped 1.7 percent, less than most global stock indexes, as a gold rally limited declines.