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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 yields have rebounded recently but are still down almost 20bps through most of 2023/1H24 today, with the US service PMI miss accounting for about half of the decline as it built on earlier growth concerns spilling over from Europe.
- It sees end-2023 implied yields some 25bps below where they were once last week’s 100bp front-loaded hike had been digested and also below where they were after the Jun 1 BoC when it hiked 50bp for the second meeting running and dialled up hawkish guidance with preparedness to act “more forcefully”.
- With both US and EA growth indicators cooling, and importantly after CAD CPI came in softer than expected on Wed, latest “front-loaded” guidance is starting to more seriously be considered as meaning a choice of 50/75bp in Sep (OIS pricing 63bp) with end’22 peak crudely between 3.25-3.5% before 60bps of cuts through 2023.
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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