BoC Cut Incoming, Market Projects

Friday's U.S. jobs report came in so tame it could've been a house pet. Rate markets cheered, BoC rate cut chances improved, and MLN's go-to fixed-rate indicator, the 4-year swap rate, dove 9 bps.

Canada's 4-year swap rate (Source: Refinitiv Eikon)

Most North American yields now sit near critical technical support levels after last week's rate surge turned out to be all bark, no bite.

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