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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
- It’s important to note the differences in union coverage between Canada and the US.
- The Canadian labour market has clearly cooled more quickly than the US, even if in both cases the increases in unemployment rates is mostly down to immigration-driven increases in the labour supply rather than outright job losses.
- However, with public sector union coverage at 76% in Canada vs 33% in the US and private sector union coverage at 15% vs 6%, it’s possible that Canadian wage growth will prove to be stickier.
- That can keep the BoC mindful of wage growth as an upside risk to inflation when considering the pace at which it normalizes monetary policy, for an argument against scaling up cuts to 50bps per meeting vs the 25bps seen over the three meetings since June.
- BoC-dated OIS have recently built to 34-35bp of cuts for the Oct meeting, courtesy of the perceived increased odds of the Fed moving in 50bp clips after last week’s media influence.
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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