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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 futures trade close to session lows, with the front Sep’23 yield -0.02, Dec’23 -0.035 and building to -0.08 for the Jun’24 and beyond.
- They notably outperform SOFR futures on the day, the latter seeing a sizeable sell-off following the stronger than expected U.Mich survey (2H24 contracts down as much as 20 ticks currently).
- Strong Canadian house prices had surprisingly little impact earlier, but with domestic focus ultimately on Tuesday’s CPI release. May CPI saw decent progress in the latest M/M rate but it wasn’t enough to budge the three-month run rate from its 3.5-4% range, as the BoC was keen to note when hiking to 5% on Wednesday.
- BoC-dated OIS currently prices a ~10bp hike for the Sep 9 decision, building to about 2/3 of a hike cumulatively by year-end.
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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