Canada Market Outlook
GoCs were modestly weaker, with yields 0.5 to 1 bp point higher across the curve. The move comes alongside a drift higher in Treasury yields overnight, while core European sovereigns underperformed. Of course, trading volume is light ahead of the holidays. Equities were mostly higher in Europe after gaining in most Asian markets, while U.S. stocks were higher in pre-market trading . Today's calendar is thin, but not empty, as Statistics Canada releases the establishment survey for October. Earnings are seen rising 0.3% m/m in October after the 1.0% surge in September. The survey also includes a non-farm payrolls estimate for October.
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