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Very Little Reaction to Macklem’s Prepared Remarks

CANADA
  • Despite headlines such as BOC: POLICY MAY BE TIGHT ENOUGH TO REGAIN PRICE STABILITY, GoC yields edge down only factionally (2Y -0.3bp) to maintain the bull steepening with 2YY -4.3bps on the day.
  • CAD maintains its position at bottom of the G10 FX pack, with USDCAD holding at 1.368 having come off earlier highs of 1.3695 ahead of the remarks.

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