INDIA: CANADA-Slow But Steady Efforts To Repair Ties Continue After Latest Talks

Sep-19 14:14

The Indian Ministry of External Affairs has released a statement announcing 'pre-Foreign Office Consultations' between Indian and Canadian officials in New Delhi. The talks "provided an opportunity to review the state of India–Canada bilateral relations and exchange views on other international and regional issues. Both sides reaffirmed the importance of India–Canada ties, anchored in shared democratic values, respect for the rule of law, and commitment to the principles of sovereignty and territorial integrity."

  • Already shaky relations were rocked by the killing of a Sikh separatist leader in a Vancouver suburb in 2023. In the wake of the shooting, Trudeau claimed there were"credible allegations" linking Indian gov't officials to the killing. Modi called this "absurd and motivated" and alleged Canada was harbouring Sikh separatists. By October 2024, Indian-Canadian relations had soured to the point of the expulsion of senior diplomats from both sides..
  • Since Mark Carney took over as Canadian PM, relations have improved markedly with him and Modi holding talks on the sidelines of the G7 summit in Ontario early in the summer, culminating in the appointment of high commissioners in late August.
  • Today's statement said both sides "agreed to initiate necessary steps to reactivate bilateral dialogue mechanisms across diverse domains". The issue has been politically charged in both countries, given Indians make up 2.5% of Canada's population, the largest single diaspora.
  • Neither side appears to be rushing to rapprochement, though, with Canadian Foreign Minister Anita Anand advocating a "step-by-step approach to deepening diplomatic engagement and advancing bilateral cooperation...” 

Historical bullets

STIR FUTURES: BLOCK: Sep'25 SOFR Buy

Aug-20 14:08
  • +20,000 SFRU5 95.9025, post time offer at 1003:04ET.
  • The Sep'25 contract trades 95.9025 last (+0.000) vs. 95.895 low.

MNI EXCLUSIVE: Riksbank Governor Erik Thedeen talks to MNI

Aug-20 14:08

Riksbank Governor Erik Thedeen talks to MNI about Jackson Hole, precautionary saving and the reduced impact of easing. On MNI Policy MainWire now, for more details please contact sales@marketnews.com

BONDS: Extend Higher As Equities Soften, Gilts Outperform

Aug-20 14:05

Core global bond contracts trade to fresh session highs on the back of the U.S. equity weakness detailed elsewhere, however, both moves have stalled a little since that update. Gilts maintain outperformance across the curve.