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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
- Macklem’s line that “inflation will likely remain too high for some time” in the National Post post-CPI appears to be getting the most attention even if it could still be consistent with BoC forecasts from the July MPR with headline still seen up at 7.5% Y/Y in Q422.
- 2Y GoC yields have continued to extend to new session highs of 3.34% (+13bps) as they approach levels last seen just after the BoC’s surprise July hike.
- BAX futures meanwhile see BAZ2 yields touch new session highs (leading the way with +15.5bps on the day) with BAZ3 not far off the initial snap reaction to Canadian CPI earlier (+14bps).
- The implied peak in the Dec’22 contract is crudely consistent with a policy rate between 3.5-3.75% whilst BoC-dated OIS currently sits with 67bp for the Sep 7 decision.
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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