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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 DATA
- There are, as ever, caveats with the Canadian labour force survey, including the volatility of the jobs figures and their proneness to sizeable revisions.
- Annual wage growth meanwhile continued to edge lower from a downward revised 4.8% to 4.5% Y/Y (from a Nov peak of 5.8%).
- Wage growth for full-time positions was stickier at 4.7% Y/Y (but still down from a Nov peak of 5.5%).
- Both are clearly still elevated, but do at least show signs of moderation, notable against the latest backdrop of surging jobs growth.
- With the BoC requiring an accumulation of evidence before considering further hikes and data volatility to be considered, analysts we’ve seen so far have been reluctant to change rate calls at this stage.
- Similarly, about half of the initial sell-off in front-dated GoC bond yields has been retraced although 2YY still sit 7bps higher on the day.
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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