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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.
CANADA
- Similar to the moves in front-end GoCs vs Tsys, the rally in BAX futures hasn’t been able to keep up with that of Eurodollars, with yields down 11.5-13.5bps through 2023 vs 17-19bps for Eurodollars.
- The difference is likely a combination of softer than expected US data and haven demand, although is surprising considering yesterday’s Canadian CPI miss even if at this stage it hasn’t materially changed analyst rate calls with the next meeting not until Sep 7.
- Canadian retail sales for May/Jun flash and especially the US preliminary S&P Global PMI for July could further shape the BAX and Eurodolllars curves, with 53.5bp and 66bp of cuts priced for Z2/Z3 spreads respectively.
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.
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