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GoCs Broadly Track Treasuries In EU FI Spillover

CANADA
  • GoCs trade 4-4.5bps cheaper across the curve with only the very long end outperforming on the day, roughly tracking Treasuries in higher EU inflation spillover. The 2Y Can-US diff of -51bps close to two-week highs.
  • Very much second tier data in North America today before CAD monthly GDP including its flash estimate for December watched closely tomorrow.
  • Locally, main news of late has been Rogers, Shaw & Quebecor agreeing to extend the outside date of their proposed merger plus the acquisition of Freedom Mobile by Videotron to Feb 17 whilst working with regulators on final approval.

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