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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.
CANADA
- GoCs modestly underperforming Tsys since open, with the front end unchanged and long end yields +0.5bps.
- It leaves 2Y, 5Y and 10Y benchmark yields close to last week’s lows after some wild swings with US CPI and the surprise 100bp BoC hike, with the 2Y at 3.22% (3.40% high) and 10Y at 3.08% (3.26% high). Both 2s5s and 2s10s of -13.5bps are close to 2019 lows.
- Scotiabank yesterday revised up their BoC rate call by 50bps to peak at 3.5% this year (currently 2.5%) where it stays through 2023. Growth projections were revised down but to a still healthy 3.5% in ’22 and 1.6% in ’23, with pent-up household demand seen avoiding the recession RBC has forecast.
Canada 2s5s (pink) and 2s10 (white) - showing mid price vs last price in textSource: Bloomberg
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.
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