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GoCs Sell-Off On CPI But Struggle To Flatten Much Further

CANADA
  • 2Y GoC yields trade +7.7bps at 3.280%, having touched a high of 3.2871% and clearing levels seen prior to last week’s CPI miss for highs since Jul 21.
  • A reasonably large reaction further along the curve with 10YY +5.8bps limits flattening with 2s10s at -52.5bps, but it still closes in on most recent lows of -56bps prior to that aforementioned US CPI miss for lows since 1990.

Source: Bloomberg

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