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GoCs Outperform Tsys, Consumer Sentiment At Dec’08 Levels

CANADA
  • GoCs have seen growing outperformance to Tsys since the open, with 2YY -3.6bp (-0.4bp Tsys) and 10YY -7.5bp (-5.0bp Tsys).
  • The move came beforehand but latest weekly Nanos consumer confidence supports it, falling another 0.9pts to 43.5, which outside of Apr-Jun’20 is just shy of the Dec’08 low of 43.3 (survey started Sep’08).

Bloomberg Nanos Confidence indexSource: Bloomberg

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