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Govt Bond Yields Closing In On 2018 Highs

CANADA
  • GoC yields continue to be dragged higher by the broader rates sell-off, with a bear flattening as short-end/belly yields are up 14bps, 10Y up 11.5bps and 30Y up 8.5bps.
  • The 2YY of 2.28% is within 7bps of 2018 highs after which it would open levels last seen in 2008, whilst the 10YY of 2.51% is 10bps below 2018 highs after which it’s the highest since 2014.
  • Both GoC yields and short-term rates continue to lag even larger moves in Treasuries/Eurodollars.

Source: Bloomberg

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