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BAX Implied Yields Tread Water With Powell Tomorrow

CANADA
  • * BAX futures have unwound an earlier move lower along with the broad intraday rally seen in GoCs and Tsys, in part on softer US data.
  • It leaves the curve little changed on the day, with implied yields touching 3.85% in the Dec’22 contract before 11bps of cuts through 2023.
  • It awaits upcoming drivers including Powell speaking at the Sintra forum tomorrow and Canadian GDP on Thu.

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