header header
With your host Hank Cunningham
Search   GO



Blog Entry

Daily Market Commentary

CAD$ and Gold were on a tear yesterday, the former rallying a full penny from Tuesday's close.  Moves like that are pretty rare, but we saw the CAD rally against the majors as well, outperforming the US$ even as the greenback gained against the majors.  The main reason was strong retail sales in Canada - our economy seems to be very strong, despite some regional issues (like manufacturing pain in Ontario and Quebec).  Canada bonds performed accordingly, gaining about 4 basis points in the ten year area.  There is not much of a chance of a rate cut or hike priced into the market, the BAX curve is flat all the way out to the 12 month contract.  (Measure bankers acceptance futures).

  Bonds continue to bleed away today, but the direction and volume aren't convincing.  Our expected trading range of 4.25 - 3.75 on the Ten year GoC has held, and we expect it to fluctuate in this band as bullish and bearish numbers continue to come out.

<< Back to Blog Entry Index




2006-2019 Copyright. In Your Best Interest. All rights reserved. Privacy Policy. RSS Feed.