Free Trial

GoCs Fade Broader FI Rally

CANADA
  • GoCs have been largely directionless since the open, with little impetus from cash Tsys being closed for Memorial Day.
  • Currently within +/-0.5bps of Friday’s close across benchmark tenors, they fade a rally in Tsy futures (in turn spillover from EGBs) whilst markets await Congress getting to grips with the US debt deal with a hearing due 1000ET tomorrow.
  • The slight twist flattening sees 2s10s at -97bps, a new low since Mar 10 early on in US regional banking woes vs prior lows of -106bps on Mar 8.
  • A light docket ahead, with weekly Nanos consumer confidence marking the only data of the day at 0800ET, after touching highs since May’22 in the latest survey.

To read the full story

Close

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.