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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
- Trading 0.5bp (30Y) to 4bp richer (2Y), GoCs outperform Treasuries across the curve and see the CAN-US 2Y differential widen to -44bps and the 10Y differential push to new extremes of -87bps.
- The front-end outperformance is reflected in rates space, with the front 3M CORRA future near unchanged before building to 6.5-7bp richer on the day.
- It continues a significant push lower in implied yields, with the Dec’24 contract almost 25bp lower compared to just before the BoC on Wednesday when it highlighted clearer signs that monetary policy tightening is biting even if it sees inflation as being more persistent. It’s meant 61bp of cuts in 2024 on a Z3/Z4 basis vs 47bps pre-BoC.
- That should give even more attention to monthly GDP for Aug/Sep advance on Tuesday, followed by the labour report on Friday. There is also likely to be spillover from an eventful week in the US including the FOMC decision and payrolls.
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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