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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
- Canadian rates have been largely resistance to today’s continued rally in the US, which extended after heavy preliminary downward revisions for benchmarking that will come early 2025.
- 2Y GoC yields are down just 1bp on the day vs 6bps for Tsys, with the Can-US yield differential rising 5bps to -67bps, of which 4.5bps has come since CAD CPI despite the softer than expected core readings. -67bps would be its highest close since Aug 7 and before that mid-July.
- BoC-dated OIS for near-term meetings meanwhile keeps to the modestly dovish fallout from CPI, with a 28bp cut for Sep and a cumulative 78bp over the three meetings left this year (i.e. bringing up 125bp of cuts for 2024 as a whole).
- There’s not much sign of additional flattening impulse from potentially significant rail strikes starting tomorrow, with 2s10s at -24.5bps (+1bp on the day) having bottomed earlier in the week at -26.8bps for lows since US payrolls.
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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