Free Trial

Sizeable GoC Outperformance To Tsys On Jobs

  • The weak jobs report sees notable GoC front-end outperformance to Tsys (2YY -7.5bps vs -1.5bps Tsys) having gone into the release on a par or slightly underperforming.
  • Moves were potentially capped by the volatility of the data plus a continued acceleration in Y/Y wage growth.
  • However, with the long end also outperforming, it only slightly narrows the gap between US and Canada 2s10s (-23bps vs –48bps) that has opened up over the past month on the implication of the BoC tightening cycle weighing more heavily on growth.

Source: Bloomberg

To read the full story



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.