TRUDEAU SAYS `WE HAVE A LOT OF WORK TO DO'

MNI BRIEF: Canada NDP Will Bring Nonconfidence Motion In Jan.

CANADA NDP SAYS WILL INTRODUCE NONCONFIDENCE MOTION

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

EZ/UK T-Bill Calendar: Greece to Sell Bills Monday

EZ/UK Bond Supply Calendar: BOE APF Sales Due 6 January

MNI: BELGIUM DEC BNB BUSINESS CONFIDENCE -13.8

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

STIR: $-Bloc Markets Little Changed Over The Past Week Apart From Canada

STIR
BulletMarketsFixed Income Bullets

In the $-bloc, rate expectations through July 2025 remained largely steady over the past week, with the exception of Canada, which saw a 13bps firming. The U.S. firmed by 3bps, while Australia and New Zealand softened slightly, by 1-2bps. 

  • The standout event was the release of hotter-than-expected Canadian CPI data for October. Annual CPI rose to 2%, up from 1.6% in September, exceeding the median forecast of 1.9% in a Bloomberg survey. The BOC’s two preferred core inflation measures also accelerated, averaging 2.55% on a yearly basis, up from 2.35% previously and surpassing expectations.
  • After a relatively quiet week, $-bloc markets are poised for increased activity with key events ahead, including Wednesday’s RBNZ policy decision, Australia’s October CPI release, and the U.S. PCE Deflator for October.
  • Looking ahead to July 2025, the projected official rates and cumulative easing across the $-bloc are as follows: U.S. (FOMC): 4.05%, -57bps; Canada (BoC): 3.09%, -66bps; Australia (RBA): 4.05%, -27bps; and New Zealand (RBNZ): 3.53, -122bps.

 

Keep reading...Show less
174 words

To read the full story

Close

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.

In the $-bloc, rate expectations through July 2025 remained largely steady over the past week, with the exception of Canada, which saw a 13bps firming. The U.S. firmed by 3bps, while Australia and New Zealand softened slightly, by 1-2bps. 

  • The standout event was the release of hotter-than-expected Canadian CPI data for October. Annual CPI rose to 2%, up from 1.6% in September, exceeding the median forecast of 1.9% in a Bloomberg survey. The BOC’s two preferred core inflation measures also accelerated, averaging 2.55% on a yearly basis, up from 2.35% previously and surpassing expectations.
  • After a relatively quiet week, $-bloc markets are poised for increased activity with key events ahead, including Wednesday’s RBNZ policy decision, Australia’s October CPI release, and the U.S. PCE Deflator for October.
  • Looking ahead to July 2025, the projected official rates and cumulative easing across the $-bloc are as follows: U.S. (FOMC): 4.05%, -57bps; Canada (BoC): 3.09%, -66bps; Australia (RBA): 4.05%, -27bps; and New Zealand (RBNZ): 3.53, -122bps.

 

Keep reading...Show less