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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 continue to outperform Treasuries today but front-end yields have nevertheless been dragged through the prior cycle high of 3.476%, currently +6.8bps at 3.484%.
- This creates a fresh high since early Jan-2008 after the prior peak on Jun 14 following the WSJ hinting the first of the 75bp FOMC hikes at what was then peak rate hike fervour.
- However, as opposed to the bear-flattening since in Treasuries, GoCs have seen a belly-led cheapening with a modest steepening in 2s10s, albeit remaining heavily inverted -47bps.
- Today’s data have had little impact – weekly consumer confidence improved slightly and has now picked up for five of the last six weeks but remains historically depressed – with US PMIs and the Richmond Fed manufacturing index clearly in focus.
Canada 2Y and 10Y GoC yields plus 2s5s and 2s10s spreadsSource: Bloomberg
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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