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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.
CANADA
- BAX futures have been chipping away at ADP-inspired losses but still hold a sizeable cheapening on the day, especially later into 2024.
- Front Sep’23 (-0.01), Dec’23 (-0.03), Jun’24 (-0.09) and Dec’24 (-0.13).
- The combination pushes the BAU3/Z3 spread back to +5.5bps for levels prior to Friday’s monthly GDP and BoC surveys. There’s a more notable push higher in BAU3/Z4 to-67bps (from -79bp yesterday) for its smallest in absolute terms since October.
- BoC-dated CORRA OIS sits at +16.5bp for next week’s decision, building to a cumulative +40bp by year-end.
- It comes ahead of tomorrow’s jobs report, with analysts looking for a bounce after May’s -17k employment was hit by a slump in the <25yr old cohort. Analysts entries are closely tied between 5.2% and 5.3% for the u/e rate (series low of 4.9% in Jul’22) although wage growth could moderate in Y/Y terms.
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.
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