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Return Of Positive Can-US 2Y Yield Differential

CANADA
  • Front end USTs have notably outperformed GoCs today, with 2YY down -4.2bps vs +0.6bps respectively. Most of the move has come recently, with the stickiness in Canadian yields possibly a result of earlier strength in Canadian CPI.
  • This has pushed the Can-US spread positive again for the first time since US CPI, barring a brief spike on Jan 11, currently sitting at +1.5bps having fleetingly touched as low as -15bps last week.
  • BOC's Dep Gov Lane speaks shortly on Central Bank Decision-Making in Turbulent Times, with released text at 1330ET and audience Q&A.

Source: Bloomberg

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