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Canada Market Outlook

Stock prices increasing and decreasing in value
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GoCs were slightly weaker after yesterday's hefty declines that came amid optimism the UK will vote to remain in the EU. The 2-year had edged up to 0.58% from 0.57% at Monday's close while the 10-year had nudged up to 1.21% from 1.20%. That aligned with the U.S. and Europe, as Treasury yields edged-higher and sovereigns in Europe and Asia saw gains give way to losses. Equities were on track for modest opening gains, according to pre-market futures trading. The loonie firmed slightly against the U.S. dollar despite the dip in crude oil prices , as USD-CAD slipped to 1.2775 from 1.2800 late Monday. In the news, businesses warn that expansion of the Canadian Pension Plan is a threat to the business sector. Moody's finds that Canada's big banks can survive a severe housing downturn. Today's calendar is empty, keeping the focus abroad where Fed Chair Yellen's testimony looms large this morning (at 10am ET).

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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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