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Only Modest Retracement Of Post Jobs Spike

  • 2Y GoC yields surged 16bps on the jobs surge before pulling back to 4.065% currently for +10bp on the day.
  • USDCAD holding most of its ultimately 75pip move lower to 1.3362. At 1.3382 it’s pushed back above yesterday’s low of 1.3374 having earlier stopped just short of support at 1.3360 (Feb 8 low).
  • A more concerted bounce in SPX e-minis could be required to push further lower to next support at 1.3262 (Feb 2 low).

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