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Canada Market Outlook

GoCs were little changed to slightly firmer amid thinning trade going into the Christmas holiday on Friday. The 10-year was holding near 1.39% while the 2-year was just below the 0.50% mark. Equities were mixed in Asia, as Japan's Nikkei fell 0.4%. But Chinese shares rallied to the best level in three weeks. European shares were green nearly across the board, with the 2.6% drop in Spain's Ibex an outlier. Crude oil prices remained mired near 11-year lows.

Domestic data is in short supply today, with an absence of top tier economic releases. But Governor Poloz presents an update on policy and the economy to a gathering that includes Finance Minister Morneau and provincial Finance Ministers in Ottawa. Governor Poloz, in an interview released by Reuters late Friday, stuck to his cautiously optimistic growth outlook despite the recent run of disappointing data.

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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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