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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
- Strong US retail sales and disappointing Canadian mfg/wholesale sales data has pushed Can-US yield differentials to new recent lows ahead of both CAD CPI and the Budget tomorrow.
- Differentials: 2Y -73.5bps, 5Y -88bps and 10Y -88bps (all down 1-1.5bps since the data).
- Little change in near-term rate expectations though, June still showing 13-14bps of cumulative cuts, buoyed by Wednesday’s US CPI strength.
Data recap [see data bullet 0848ET for more detail]:
- Manufacturing sales: 0.7 (flash estimate +0.7%) after a downward revised 0.0 (initial +0.2%)
- Wholesale sales ex petroleum etc: 0.0% (flash estimate +0.8%) after a downward revised -0.2% (initial +0.1%).
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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