Free Trial

GoCs See Some Recent Underperformance, BoC Minutes In 15mins

CANADA
  • GoCs have moved in contrasting directions to Treasuries over the past 30 minutes, selling off across the curve vs the broader rally.
  • Yields sit 0.3bp higher (2s) to 3bps lower (10s/30s).
  • It’s helped push the Can-US 2Y differential to -50bps, 4bps higher since shortly after the open, but it’s only +1.5bps from yesterday’s close and still far off the -44bps prior to yesterday’s CAD CPI.
  • The BoC minutes land at the bottom of the hour, which should go into more detail behind it being “still too early to consider lowering” rates. It’s watched for interplay between inflation persistence (which has since moderated quite notably in yesterday’s report) and the signs that wage pressures may be easing.

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.