Analysts at TD Securities noted that markets traded with an upbeat tone on Tuesday in light of reported progress in NAFTA talks on motor vehicles and a detente in US/China trade tensions.
Key Quotes:
“North American equities saw moderate gains (SPX: 0.5%, TSX: 0.5%) while Treasuries bull-flattened on a 2.5bp rally in 30s.
“Canadian rates underperformed by ~2bps across the curve on better-than-expected GDP.”
“The USD was mixed against the G10 with JPY (-0.7%) leading the move lower on the BoJ’s commitment to YCC. CAD (+0.2%) rallied on upbeat GDP data though the move was constrained by reports of discord between Canada and the US on NAFTA.”
“The Fed, BoE, RBI, and BCB will share the spotlight on Wednesday.”
Share
