Canadian Market Outlook
GoCs remain in a holding pattern as domestic attention shifts to the release of a string of housing data today ahead of Friday's employment report and next week's Bank of Canada rates announcement and MPR. There has been modest relief that Greece met its IMF debt tranche. But doubts remain about Greece's resolve to reach a deal with creditors. And Alcoa's sales miss has got U.S. earnings season off to a shaky start. The 10-year yield had eased 1 bp to 1.33%, extending consolidation below the 1.37% high from Monday and Tuesday. And USD-CAD had pulled back toward 1.2500, but only after having posted a one-week high at 1.2580.
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