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GoCs Richer, Consumer Sentiment Softens Further

CANADA
  • GoCs have sold off in recent trade but maintain richer levels from Thursday's close across most of the curve aside from the very long end as they catch up from Friday's holiday, with the largest move in belly (-5bps).
  • Whilst not a major mover, weekly consumer confidence showed a further decline in both current and expectations metrics.
  • A new recent high of 44% respondents have seen their personal finances worse off over the past year (41% a month ago) and 31% see house prices falling (20% a month ago), but job security is proving relatively robust in a sign of the continued strength of the labour market ahead of Friday’s June report.

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