MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

Monthly Retail Sales Volatility Obscures Still-Positive 3m/3m Trend

Retail Sales Grow Slightly In June, Consistent With Surveys

Collective Wages Continue To Tick Higher

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Can-US 2Y Yields Converge Further As BoC’s Hawkish Hold Assessed

CANADA
  • GoC underperformance continues for a third day, again led by the front end with 2YY +2.2bps vs -1.7bps for Tsys.
  • It has seen the 2Y Can-US spread narrow to just -8bps from -25bps at Friday’s close and the tightest since Sep 2022.
  • Domestic data has played an important role this week, with housing data on Monday bouncing much more than expected before yesterday’s CPI headline surprise and realisation of stubbornly strong monthly core run rates.
  • The BoC’s hawkish conditional pause has been called into question ahead of the Jun 7 decision. Whilst it remains a little way off, there are only a few significant releases of note in the interim, starting with retail sales on Fri and Q1 GDP on May 31.
  • OIS currently prices a little over a 1/3 of a 25bp hike but should GDP beat BoC expectations of 2.3% annualized it could further tilt hiking expectations.
HomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsCanada Bank of Canada Market News

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.