August 12, 2022 15:20 GMT
- The rise in GoC yields from the earlier U.Mich consumer sentiment beat spilling over has left GoCs with a mild twist flattening on the day (2YY +0.7bps, 10YY -0.5bps).
- In doing so it nudges 2s10s down to -47bps but remains off pre-US CPI lows of circa -55bps in what had been post-1990 lows.
- US factors have dominated this week with a lack of local steers, but that changes next week with Canadian CPI on Tuesday particularly of interest after last month’s more mixed report.
GoC 2s10s spread (white) - showing mid price, not ask price per textSource: Bloomberg