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GoCs Sell-Off Sharply In Isolation

CANADA
  • The GoC sell-off has accelerated, led by the front-end to belly with yields +11bps on the day at new cycle highs.
  • The 2YY has climbed 7bps in 45 minutes, starting before the 3Y auction and gathering pace since, which saw C$2.5B of the 3% 3Y sold at 4.137%.
  • The Can-US 2Y yield differential narrows 9bps on the day to -28bps, still within the month’s range with a high of -20bp and yesterday's low of -49bp.

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