CANADA: Further Outperformance For Rates/Yields
Nov-23 13:23
- With GoCs flat to rallying vs Tsys +2-2.5bps on the day, negative Can-US yield differentials continue to widen, at -61bp for the 2Y and -75bp for the 10Y.
- These yield differentials are towards the lower end of recent ranges, with a solid US docket in focus until BoC Gov. Macklem testifies at a House Committee late on at 1630ET.
- Somewhat larger outperformance in rates space, with BAX futures also little changed out to early 2024 (in admittedly light, early trading) compared to SOFR yields up as much as 9bps.
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STIR: BLOCK, SOFR Calls
Oct-24 13:20
- -3,000 SFRF3 95.75 calls, 5.0 ref 95.125/0.10 at 0909:09ET
MNI EXCLUSIVE: European Parliament Adviser Dabrowski On ECB's TPI
Oct-24 13:10
MNI interviews European Parliament adviser and former central banker Marek Dabrowski about the ECB's new Transmission Protection Instrument --On MNI Policy MainWire now, for more details please contact sales@marketnews.com
UK: Gilts, GBP Retrace Quick Gain As Sunak Wins Leadership Race
Oct-24 13:06
Gilts move about 25 ticks higher as Mordaunt exits the Conservative leadership race - then quickly retrace. See intraday chart below - similar movement in GBP vs EUR.
- With Sunak about 98% priced by betting exchanges to win by the time Mordaunt's announcement came out, understandably not much market reaction to the news.
- Attention quickly turns to Sunak's address to MPs at 1430UK time.
Source: BBG
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