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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
- GoC yields sit just 0-1bp lower on the day, holding onto the further lift in Can-US yield differentials seen after the softer US PMI release.
- The 2Y differential has lifted 3.5bps to -68bps (+10bps since the close after last week’s dovish CAD CPI and a hawkish Powell), whilst the 10Y diff has lifted 2bps to -84bps (also +10bps since post-CPI close).
- BoC-dated OIS puts 15-16bp of cuts priced for the next meeting in June with a first cut fully priced in July, in contrast to Fed Funds only just pricing a first cut with the September meeting.
- CORRA futures show 65bp of cuts through 2024 contracts vs yesterday’s Bloomberg analyst survey with a median 100bp of cuts pencilled in.
- Tomorrow sees Canadian retail sales and the minutes from the BoC Apr 10 decision.
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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