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Relentless GoC/Rates Sell-Off Post BoC Continues

CANADA
  • GoC yields continue a relentless climb, now +19bp on the day at 4.568% (+20bps since decision).
  • Nearer-term, Bloomberg reports that: *CANADA SWAP MARKET PRICING IN ANOTHER BOC HIKE BY END SEPTEMBER bbg
  • Prior to the meeting, we had seen roughly 40bps cumulative (i.e. including today’s 25bp hike, which was only 50/50 priced for today) for October.

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