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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
- GoCs have outperformed Tsys today after a more modest paring of earlier gains on US monthly PCE (another soft March indicator with ‘core’ wholesale sales indicated -1.3% M/M was perhaps partly to blame).
- The 2Y GoC yield is 2bps lower on the day, with the Can-US 2Y yield differential also slipping 2bps to -67bps although it still sees a solid increase from the -74.3bps it ended last week despite the strength of US data.
- BoC-dated OIS has shifted to imply 12-13bp of cuts at the next meeting in June vs 15-16bp at the start of the week.
- Next week, expect spillover from the FOMC decision and payrolls, whilst the local docket is centred around monthly GDP on Tue before BoC’s Macklem and Rogers’ Senate appearance on Wed (text not until 1615ET).
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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