Canadian Market Summary - Action Economics
GoCs maintained outperformance versus Treasuries since last week's dovish BoC announcement and contrasting jobs data. The World Bank's downward revision to growth helped cap yields and risk appetite in early trade. But supply was a headwind, including mixed demand for the U.S. 10-year note auction, and also a well received GoC 30-year RRB auction. USD-CAD fell to a fresh one-week low at 1.0857, moving back in sight of the May 30 trough at 1.0818. And the S&P/TSX Composite consolidated recent strength.
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