Free Trial

GoCs Maintain Underperformance To Tsys After IPPI Release

CANADA
  • GoCs and Tsy yields have both lifted 1bp since Canada’s IPPI data. It sees GoCs maintain most their underperformance to Tsys across the curve, especially at the front end with 2Y +2.1bps vs -1bp for Tsys.
  • Can-US 2Y yield differential sits at -44.5bps, having last closed higher on Mar 8.
  • IPPI inflation was hotter than expected in Feb at 0.7% M/M (cons 0.0) but the impact is limited by the ex-energy & petroleum products component only increasing 0.1% M/M for a second month running after three heavier monthly declines prior to that.
  • Canada sells C$6.5bn of the 2Y (4% May’26) later today and CAD CPI is in local focus tomorrow as part of a heavy week.

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.