July 26, 2022 12:03 GMT
- GoCs have rallied solidly since open, led somewhat by 5-10Y tenors but with benchmark yields across the curve down 5-7bps as they extend outperformance to Tsys.
- Barring the 2Y, all other benchmark yields are now through post US PMI lows on Friday, with the 10YY the lowest since late May.
- Beyond Mar’20 lockdown volatility, both 2s5s and 2s10s of circa -25bps are through 2019 lows and the most inverted the curve has been since 1990.
Canadian GoC bond yields 2Y, 10Y and spreadsSource: Bloomberg