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Lots going on

Where do  start? An unprecedented 150 beep cut by the Bank of England? 50 beeps by the ECB?

 There is room for more cuts too. This leaves room for more cuts in North America as two year yields continue to fall, now below 2 % in Canada.
 The 3 month LIBOR fell again.
In Canada, new issue activity continued, with Hydro One offering a 5 year at 222 over Canadas and New Brunswick offered a 10 year at plus 135.
In the US, of note was that there was not a single ABS issue backed by credit card payments, the first time that has happened since 1993.
 Bond prices have edged higher in the last couple of days but will recede at the next strong equity market day.



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