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Bull Steepening Ahead Of Retail Sales

CANADA
  • GoCs extend a bull steepening ahead of retail sales in 5mins, with 2YY pushing to new session lows (-5.4bps vs Tsys -2.2bps) whilst the 10Y modestly pares gains but with yields still -2.2bps (Tsys +0.2bps).* Retail sales for Feb/Mar advance: Last month’s advance had in -0.6% M/M in Feb after a strong +1.4%. CIBC look for a heavier -1.0% M/M in Feb but partly on pullback in autos and lower gasoline prices, with core and volumes measures looking a little better.

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