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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
- The far stronger than expected employment report has seen 2Y GoC yields extend an earlier move to be up 7.5bps on the day to 1.621%, through last month’s high of 1.609%.
- This sees 2s10s flatten 3.5bps to 35bps in a partial reversal of the recent steepening in the curve.
- One area preventing a more aggressive flattening is that even though stronger than expected, hourly wage growth of 3.3% Y/Y is relatively subdued considering the strength in the rest of the report.
- Of note, the unemployment rate of 5.5% is just 0.1pt above the low of 5.4% from May’19 whilst the participation rate bounced back to December’s 56.4%, just 0.2pts below levels immediately prior to the pandemic. Total employment is nearly 2% than prior to the pandemic.
GoC Yields And 2s10s SpreadSource: Bloomberg
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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