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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
- BA yields are down 14-15bps in late 2023/24 contracts despite lagging Eurodollars, but this only takes yields back to Friday’s close.
- Front rates are less impacted (BAZ2 yields -5.5bps), continuing to price an additional 25bp hike vs after the Sep 7 BoC decision through to the Jun’23 contract (chart). That crudely implies a policy rate peaking around 4%, from 3.25% currently and with BoC-dated OIS pricing a 45bp hike for Oct 26.
- There is still one more labour & CPI report plus the BoC survey to come before then, but more immediately is tomorrow’s July GDP, although external factors are likely to continue to play an oversized role in the meantime.
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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