In this episode, we uncover a fascinating inefficiency in the Canadian bond market—a quirk in how interest is calculated using "day count conventions." Dive into the mechanics of how Canada’s unique approach creates potential arbitrage opportunities, why they exist in such an established market, and the challenges of exploiting them. From real-world testing with Canadian government bonds to the deeper lessons about understanding market nuances, this episode is packed with insights for finance enthusiasts and curious minds alike. What hidden patterns could you uncover in your own world?