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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
- Consistent with narrow front-end ranges amidst the large fixed income bear steepening today in both the US and Canada, CORRA futures trade only modestly cheaper to unwind about half of Friday’s retail sales induced rally.
- Contracts trade 1-2.5 ticks cheaper, with the H4 implied yield marking the high for the cycle at 5.305% currently.
- It’s followed by 39bp of cuts for 2024 on a H4/Z4 basis, off Thursday’s close of 36.5bps which marked the fewest cuts priced since Oct 2022.
- As for the near-term BoC-dated CORRA OIS prices 12bp hike for next month and cumulative 20bp for Dec before a 25bp hike is fully priced for January.
- Tomorrow sees a light docket, headlined by flash manufacturing sales for August after values bounced 1.6% M/M in July from -2.0% in June as part of a volatile run.
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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