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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
- Bloomberg has released its analyst survey taken Nov 17-22, with responses likely landing either side of CAD CPI on Nov 21 (which saw better progress with the preferred core measures slowing to 3% annualized on a three-month basis).
- The meeting-specific survey saw a marginal pulling forward of cut expecting, with the median for the first cut to 4.75% landing in Jun’24 meeting vs the prior median split between 4.75% and 5%. The opposite is true later for Dec’24 which has pushed higher to a split between 4% and 4.25% vs 4.00% last month.
- The quarterly survey has a better response rate, eyeing a 25bp cut in both Q2 and Q3 before 50bps of cuts per quarter in Q4 and 1Q25 - see below.
- The findings are in line with BoC-dated OIS very nearly showing a first cut in June as priced, although the surveyed 100bps of cuts to year-end is steeper than the 80bps in 3-month CORRA on a Z3/Z4 basis to 4.22% and an implied yield of 3.56% for the Dec’25.
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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