Free Trial
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
- The front BAX future holds at levels it settled once payrolls had been digested an hour or so after the release, but later dated contracts have pushed nearer post data lows in a sell-off about half the size of SOFR counterparts.
- It leaves the Jun’23 -0.035, Dec’23 -0.085 and Jun’24 -0.11, with the BAM3/Z3 spread of 0.13 pushing back above recent highs from the end of last week/early this week for highs since Mar 2022.
- The steepening in the rate path comes as markets look to next week’s BoC decision. Whilst OIS odds are increasing but still only about 1/3-1/2 priced for a 25bp hike on Wed, some analysts have opted for a 25bp hike (TD looks for back-to-back, Scotia noted “at least” 25bp required after GDP). A few others we’ve seen stick with no change next week but a July hike more likely (Desjardins, RBC).
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok