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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.
CANADA
- Canadian 2Y2Y OIS rates have dipped 4bps to 3.28% today as near-term rate expectations were trimmed on a notable miss for CPI inflation, although in broad terms keeps to the plateauing seen this month.
- The trend remains sharply at odds with that of the US, which has climbed to 3.25%, closer to pre–June FOMC highs of 3.29% on the expectations of rates remaining higher for longer in a slower pullback from a terminal OIS implied rate that has surged since last week to almost 4.5%.
- The differing trends see a Can-US differential of just +2bps, the lowest since Jun'19, compared to the +40-80bps seen both in the run-up to the pandemic plus it's impact/recovery in what likely reflected stronger longer term growth expectations.
2Y2Y OIS for Canada (white), US (yellow) and Can-US differential (green)Source: Bloomberg
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.
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