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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
- Along with 2Y GoC yields touching new session highs with +9bps at 4.05%, and in turn pushing new highs since Mar 10 (as early US regional banking distress spilled over to Credit Suisse), shorter term rates also continue to sell-off.
- OIS is now getting closer to 50% odds of a 25bp hike with the Jun 7 BoC decision whilst BAX futures implied yields are up 2bps for the front Jun’23, 11bps for the Dec’23 and as much as 13bps for 1H24 contracts.
- The combination sees BAM3/Z3 tighten further to -0.07 from -0.16 yesterday and -0.315 on Monday’s close prior to CPI. It’s the highest since Mar 9 and having only briefly turned positive with +0.045 on Mar 8 prior to SVB’s issues emerging with positive levels otherwise last seen in Apr’22. The outright levels are in stark contrast to the -0.65 in the SOFR equivalent.
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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