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Canada Larger Hikes Priced In For 2022

  • BAX futures are pricing in an extra 22.5bps of hikes through 2022 (roughly 6.5x25bp hikes) compared to after last month’s BoC/FOMC, with a parallel shift through 2023, following US CPI and Bullard’s unscheduled comments.
  • Next scheduled Fedspeak is late today with Barkin (2024 voter) at 1900ET. No obvious Canadian data/speakers planned but in the US, tomorrow’s U.Mich preliminary Feb survey and in particular the inflation expectations component could have an impact.

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