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GoCs Almost Track Treasuries, CIBC Starts Earnings With EPS Beat

CANADA
  • GoCs holding a modest move cheaper with the open, with yields 1.5-2.3bp higher as they marginally outperform Treasuries. Front end yields close to yesterday’s high but well within range further along the curve after yesterday’s flattening (2s10s still -86bps).
  • The Can-US 2YY diff of -50bps remains towards the lower end of the recent range.
  • Earlier, CIBC kicked off bank Q4 earnings with an adjusted EPS of C$1.94 vs est C$1.72. BMO and Scotia to follow Tue, before RBC, TD and National on Wed.

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