Free Trial

Belly-Led Rally Ahead Of Incoming Data And Early Close

CANADA
  • GoCs moving very much in line with Tsys, with a belly-led rally with 5YY -6.5bps on the day as broad risk-off dominates further inflationary pressures in the CFIB barometer released at the open.
  • In rates space, BAX futures yields are trimmed as much as 9bps and drive further inversion beyond 2022, with BAZ2-BAZ3 -2bps on the day at -22bps in early trade.
  • Downward surprises in upcoming US data (personal incomes report, MNI Chicago PMI) and Canadian GDP (noted earlier) could help accelerate this trend before an early close for bond markets ahead of full closure tomorrow with Canada Day.

To read the full story

Close

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.