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Canada Market Action

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GoCs and stocks were higher, with yields 1 to 2 bps lower across the curve relative to Friday's closing levels. The 10-year was 2 bps lower at 1.375%, but was holding above an earlier session low of 1.365%. The 2-year had moved to 0.485% from 0.50% early, leaving it near session lows. The 2s10s spread was steady at +89 bps. The spread versus 10-year Treasuries was 1.5 bps more negative at -81.5 bps as GoCs outperform amid divergent central bank outlooks. Equities were seeing solid gains, with the S&P/TSX up 0.8% amid broad based gains. Energy shares were 1% in the green despite weakness in oil prices . USD-CAD was holding the 1.39 handle, seeing a fairly narrowing range today between 1.3914 and 1.3969.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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