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Canada: Reversing Recent Risk Off Moves

STIR FUTURES
  • BAX futures being to catch up with the moves seen in US rates, down as much as 6.5 ticks in the reds and with the curve back to levels from mid-last week.
  • Hikes remain relatively front-loaded, with 56bps priced between M2-H2 and a further 44bps in U2-M2, i.e. continuing to stick with consecutive 25bp hikes per meeting at least out to September.
  • In absence of scheduled local events, drivers are more likely US-related including various data releases.

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