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BAX Futures Take BoC Rogers’ Remarks In Their Stride

CANADA
  • Little new on mon pol from BoC’s Dep Gov Rogers in prepared remarks for a speech on the Bank’s independence.
  • Initial headlines have largely repeated previous commentary that rates are rising and will need to move higher, with the Bank ‘committed’ to getting inflation to target and that it isn’t on autopilot.
  • BAX futures are largely unchanged, with yields being led higher by the white pack (5.5bps) with a marked increase compared to the flattening seen in Eurodollars.

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