S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketTD Securities strategists Robert Both and Emma Lawrence highlight that Canadian rates are opening weaker, with yields tracking US moves and geopolitical tensions. They expect CAD employment to show only a modest rebound and see imported volatility dominating. The team remains biased long 2-year Canadas, watching Middle East developments and domestic data, including the March Labour Force Survey.
Rates track US as jobs rebound
“Canadian rates are opening weaker, with domestic yields 2-3 bps higher across the curve as we follow the US into the open after Friday’s payrolls.”
“Looking at the week ahead, with the busy US data calendar, we’d expect larger moves this week to be imported rather than domestic drivers.”
“CAD employment on Friday could move the market, but geopolitical drivers may hold more weight later in the week if no agreement is reached by Tuesday night’s deadline.”
“However, the 5y auction will be in the backdrop as well, which will put some weight on duration this week.”
“We continue to be biased long 2s, but we’ll be keeping a close eye amidst geopolitical risk events for this week.”
