November 23, 2022 13:23 GMT
- With GoCs flat to rallying vs Tsys +2-2.5bps on the day, negative Can-US yield differentials continue to widen, at -61bp for the 2Y and -75bp for the 10Y.
- These yield differentials are towards the lower end of recent ranges, with a solid US docket in focus until BoC Gov. Macklem testifies at a House Committee late on at 1630ET.
- Somewhat larger outperformance in rates space, with BAX futures also little changed out to early 2024 (in admittedly light, early trading) compared to SOFR yields up as much as 9bps.