Markets

Canadian Market Outlook

GoCs have extended higher in tandem with Treasuries, with the recent soft run of U.S. data having flattened the anticipated Fed tightening trajectory. Stocks remain on a corrective footing, including a negative skew for U.S. stock index futures. And the risk of a Greece exit from European Monetary Union lingers ahead of an IMF payment deadline next week.

The 10-year yield had eased 2.5 bps to 1.30%, on track to retest last week's trough at 1.282%. And USD-CAD had rebounded to the 1.2640 area along with the $1.4 pullback in crude oil. February trade data at 8.30am ET will help drive direction ahead of an early close for the bond market and the Good Friday holiday. Finance Minister Oliver will announce the budget date at 9am ET. And details of next week's 5-year auction will be announced.

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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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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