Free Trial

2024 Rate Cut Expectations Continue To Build, Retail Sales Tomorrow

CANADA
  • CAD rates have slightly outperformed their US counterparts today.
  • Front CORRA contracts have rallied modestly (+0.01) and with a sell-off for the Dec’24 limited to -0.025 vs -0.045 for SFRZ4 and increasingly large declines thereafter.
  • It sees a further tightening in time spreads, with the CORU3/Z4 to -17bps, Z3/Z4 -34bps and H4/Z4 -37bps (with the H4 capturing the currently implied peak yield for the cycle).
  • This peak to Dec’24 pricing has switched significantly from the -53bps at Friday’s close to -37bps currently.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.