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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 have cheapened further in early trade, only slightly lagging moves on the day in Eurodollars despite yesterday’s sizeable underperformance.
- Front contract yields are limited to 1.5-2bp increases out to the Dec’22s, with larger increases beyond including 3-3.5bps for Dec’23, continuing to chip away at inversion with BAZ2/BAZ3 pricing 40bps of cuts from a peak of 75bps in late July.
- The Dec’22 crudely implies a peak policy rate of circa 3.75% from the current 2.5%, with further large increases expected for the upcoming Sep 7 BoC meeting (OIS hovering around 68bps, analysts tilting towards 75bps).
- No further CPI or labour prints before then, with focus on upcoming Jackson Hole before GDP for Q2/June on Aug 31.
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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