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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
- GoC yields sit 2.5-3.5bp higher, seeing further but more modest outperformance to Tsys across 2-5Y tenors after yesterday’s Canadian CPI-induced rally.
- Can-US differentials sit 1bp lower for the 2Y at -67bps whilst the 10Y is unchanged at -84bps.
- There is increasing focus on the upcoming extension for Jun 3 (both Jun 1/2). TD note 0.139yrs for the overall index (0.126 short, 0.238 mid and 0.53 long), with the long index notably longer than average.
- TD: “This is going to be a good fade the extension year, as the May 29th $2bn 30y auction is on deck (there was no 30y auction the previous two Mays heading into June 1/2), and we expect Provincial issuance to wisely cluster into and after the June 1/2 extension.”
- Today sees Canada sell C$5bn of 3% 10Y. Recent auctions have seen a rise in demand with the five auction bid-to-cover of 2.31x and April’s 2.36x.
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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