Monday 13th February 2023

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Bond yields continue to rise as expectations heighten just about everywhere that central banks will push faster and further on rates. As NAB’s Skye Masters discusses today on the podcast, this hawkish sentiment wasn’t helped by employment numbers for Canada on Friday which, like the US the week before, came out much higher than expected. Central banks continue to be focused on the data, but there’s not much of that today. Instead markets will be jockeying for position ahead of US CPI tomorrow, the one number that really counts.

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Canada’s turn to surprise on jobs