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Canadian Market Outlook

GoCs were little changed after a quite session overnight, with attention turning to U.S. corporate earnings and next week's FOMC announcement. The 10-year yield had softened 0.5 bp to 1.57%, remaining within reach of last week's trough at 1.54%. And USD-CAD had stabilized around 1.3000, after having made a new six-year high on Monday at 1.3027. The domestic data calendar is bare, although there will be a C$500 million cash management bond repurchase operation, with an offer deadline of 11.15am ET. Supply this week features the C$3.3 billion GoC 5-year auction on Wednesday. And May retail sales data is awaited on Thursday, with potential to raise pressure on the Bank of Canada to cut further.

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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