Free Trial

GoCs Partially Unwind Sizeable Sell-Off, Tax Collection Workers Remain On Strike

CANADA
  • GoCs rally 2-4bps across the curve, with the front-end underperforming, after yields rose 12-13bps yesterday in a spillover from stronger US ISM mfg prices paid.
  • A light docket (which remains light until Friday’s employment report) sees US data of Jolts and factory orders likely headline at 1000ET.
  • Recapping from yesterday, the PSAC ended its strike for 120k of its members that began Apr 19 after agreeing to a 12% wage gain over four years and a one-time lump sum equivalent to 3.7% of annual pay. The agreement didn’t cover 30k workers at the tax-collection agency, who will remain on strike and affect processing of tax returns due Sunday.

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.