November 09, 2022 19:43 GMT
US CPI and Macklem In Focus Tomorrow
CANADA
- BA futures hold little changed on the day through the Dec’22-Jun’23 (yields +0.5bps) before a 2-3bp rally further out contrary to a 6-7bp rally in Eurodollars in 2024.
- Yields continue to peak in 1H23 with a little over 30bps inversion through 2H23 and a similar pace continuing thereafter.
- Two important events tomorrow with US CPI and then Gov Macklem speaking after last week’s strength in the jobs report. Remarks are published 1155ET and then media Q&A at 1330ET, but with the bond market closing 1300 ahead of Remembrance Day.
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