TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

MNI: UK APR-JUN MEDIAN PAY AWARDS +4.9% :Brightmine

US Treasury Auction Calendar

BoC Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Modest Underperformance As Begin To Near June Extension

CANADA
  • GoCs are slightly off lows but still underperform Tsys shortly after the open, most pronounced in the 10Y with yields +4.7bps vs +2.4bps for Tsys.
  • RBC on early June extension: “For this year, we estimate a combined duration extension of 0.108 on June 1/2, compared to a range of 0.121 to 0.163 over the previous four years (last year at 0.134). CA/US bond spreads typically tighten 2-5bp in the three weeks leading into the extension, with this most pronounced for 30’s. This means CA/US boxes flatten into the extension as well, though their already flat level may limit extension-related moves in the coming weeks.”
  • Ahead: Housing starts for Apr land first today at 0815ET with a small bounce forecast after March’s -11%, continuing a recent run of volatility. We also see wholesale trade and existing home sales but greater domestic focus will be on CPI tomorrow.
BulletMarketsFixed Income BulletsHomepageCanada Bank of Canada Market News

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.