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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
- GoCs see a dovish reaction to the BOS/CSCE surveys, with 2YY rallying a further 4bps for now down almost 10bps on the day with the belly also rallying 7bps. USDCAD meanwhile largely looks through the report with the US out.
- Overall confidence in the Business Outlook Survey fell further in Q4, at +0.1 touching new lows since 3Q20 albeit still close to average levels through 2019.
- Most firms expect a mild recession in Canada this year, with increases in the share of those worried about demand and credit availability along with reduced supply chain concerns.
- Inflation expectations were somewhat mixed. A record 84% of firms expected inflation to average above 3% over the next two years having dipped 1pp to 77% back in Q3. However, actual expectations eased to an average 4.18% (from 4.26) over two years and the additional more timely Business Leaders’ Pulse saw 2-year ahead inflation at 2.95% (from 3.14) and 5-year ahead at 2.41% (from 2.49).
- Further, average year-ahead expected wage increases cooled another 0.2pps to 4.7% Y/Y having potentially peaked at 5.8% in Q2.
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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