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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
- BAX futures hold close to lows for the day in a sizeable sell-off, partly catch-up from broader FI moves yesterday with Canada out on Victoria Day but also with some specific CAD rates underperformance.
- The front Jun’23 yield has reversed Friday’s (US debt talk impasse related) drop with a 3bp increase to 5.08% but it sees larger increases thereafter, with the Dec’23 +13.5bp at 5.13% for the highest since US regional banking issues first came to light in early March (Jun’24 with a larger +17bps but similar trend).
- These leave the BAM3/Z3 spread at +0.05, set for its first positive close since Mar 8 (+0.045) and in turn its highest since Apr 2022 as markets probe the BoC's conditional pause. It’s in notable contrast to the -0.51 for the SOFR equivalent in the US.
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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