Canadian bond prices were flat to higher across the curve on Friday, outperforming US Treasury market, as investors waited for Friday's US jobs report and largely looked past Thursday's stronger than expected US data. "It's important to emphasise how small the movement is. It does not necessarily represent a groundswell of attitude change among investors," Lascelles said.
"This might be some rejigging more than anything else in advance of the weekend and (US) payrolls." There may also be more trepidation around the US jobs data than usual, in part because most markets will be shut for Easter.
The two-year government bond edged up 3 Canadian cents to C$99.59 to yield 1.722 percent, while the 10-year bond gained 10 Canadian cents to C$101.50 to yield 3.557 percent. Canadian bond prices have generally been on the decline as market players increasingly price in the probability that the Bank of Canada will hike interest rates in July.
Comments
Comments are closed.