MNI INTERVIEW: Fed QT Likely To Linger After Rate Cuts Start

MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CBRT Data Watch

NBH Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

GoCs Maintain Sizeable Cheapening, 10Y Supply Tomorrow

CANADA
  • GoCs have reversed some of their earlier losses but continue to hold a large cheapening post Victoria Day, with 2Y-10Y benchmark yields some 9.5 to 11bps higher since Friday’s close.
  • The 2Y leads the way after the sizeable steepening in the shorter rates curve with BAX 2023 inversion fully unwinding and currently on track for the first positive close in BAM3/Z3 (+0.04) since Mar 8 just as SVB issues first came to light. It sees the 2Y Can-US spread still relatively narrow at -22bps.
  • The sizeable move has come despite only mixed cost price pressures for IPPI/raw materials whilst the weekly Nanos consumer confidence index continued to trend higher for its highest since May’22.
  • 10Y supply headlines tomorrow’s CAD docket but with potential spillover from the FOMC minutes and of course any further debt talk headlines.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.