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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
- In contrast to US rates pressing near post-GDP/initial claims lows, BAX futures sit near the middle of the day’s range.
- They still see decent moves on the day though, with the front Jun’23 currently -0.02, Dec’23 -0.05 and Jun’24 -0.09.
- The combination sees the BAM3/Z3 spread widen another 2bps to +8.5bps, above the +4.5bp close on Mar 8 prior to US banking woes and currently set for its highest close since early Mar 2022.
- CAD factors have been more mixed than the strength of US data, with the CFIB survey showing another improvement in business confidence and no real progress in labor market pressures, whilst SEPH fixed weight wage growth slowed from 4.1% to 3.0% Y/Y (in turn partly countered by the vacancy rate rising to its highest since Nov) and bank EPS results disappointed.
- Debt talk headlines aside, tomorrow sees US data in the spot light with monthly PCE/core deflator, preliminary durable goods and finalized U.Mich consumer sentiment after the surprise lift in long-term inflation expectations.
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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