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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
- With the stronger than expected Canadian CPI report now more fully digested, 2Y GoC yields have limited post-data increases to a still sizeable 8.9bps (for +7.4bps on the day).
- The Can-US 2Y yield differential has also trimmed some of its earlier large gains, now at -77bps having touched -73bps, but still increase from -82.5bps pre-data and would mark the highest close since the BoC cut 25bps on Jun 5.
- BoC-dated OIS meanwhile hovers around 9-10bps priced for the Jul 24 meeting (from 15bp) with still another labour and CPI round to come plus the BoC’s business and consumer surveys.
- Further out, CORRA futures have a cumulative 56bp of cuts to end-2024 and 138bp to end-2025, vs 64bp and 146bp pre-CPI.
- Perhaps complicating proceedings on the day at the margin was yesterday’s shock win for the centre-right main opposition CPC in the Toronto-St Paul by-election, having been held by the LPC since the 1993 general election.
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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