Canada Market Outlook
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).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.