Markets

Canada Market Outlook

An image of multiple stacks of coins
Credit: Shutterstock photo

GoC yields were sharply lower as the UK's vote to leave the EU stunned the markets, which were expecting the UK to vote in favor of staying in the EU. The impact of the election has reverberated around the globe, with sizable yield declines in the U.S., Japan and Canada. The 10-year GoC was down 16 bps at 1.13%, although off its worst levels at the open of nearly 1.05%. The 2-year was 10 bps lower at 0.515%, but also above an earlier low of 0.484%. Equities in Europe and Asia have seen massive declines, with the Euro Stoxx down 9%, FTSE falling 10.7% and CAC off 8.6%. The FTSE was a less pronounced 4.3% lower, however. The Nikkei declined 7.9%, Hang Seng fell -2.9% but China's CSI 300 was down only 1.3%. The S&P/TSX was on track for a sizable opening decline according to pre-market futures trading. Today's calendar is devoid of data or BoC events, keeping the focus on abroad as markets mull the impact of the UK's decision.

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.


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

Other Topics

Stocks

Latest Markets Videos