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Canada Twist Flattening In BAX

STIR
  • BAX futures are up to 1 tick lower in the middle of the reds but greens are up as much as 3 ticks on the day (with the caveat that volumes are very low in the latter, as usual).
  • In implied yields, with whites unchanged they continue to price circa six hikes in 2022, whilst reds edge nearer to Friday’s post-payrolls close, with minor inversion further out through the greens.
  • As mentioned earlier, Macklem speaks at 1200ET with prepared remarks released at the same time.

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