Free Trial

CAD Rates Consolidate Prior Rally Ahead Of BoC

CANADA
  • CORRA futures trade up to 3bps cheaper through Dec’23-Mar’24 contracts ahead of tomorrow’s BoC decision, but with the cheapening impetus fading further out the curve with the Dec’24 marginally richer on the day.
  • It does little to change a significant pullback in the implied rate path compared to levels seen early last week, in part on softer-than-expected CPI and in part global factors.
  • It leaves a path very similar to that after the early Sept decision: implied yields peak with the Dec’23 at 5.145% before 50bp of cuts to the Dec’24.

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.