* IPT: MS+140 * Books >1bn * FV: MS+110 - This is 14bps wide of the SLHNVXX 0.5% 2031 which we see a...
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Treasuries outperformed global counterparts Friday, fully completing a reversal from a midweek selloff.
USDCAD broke lower Thursday, breaking out of a tight trading range this week and remains soft. A key support at 1.4261, the Jan 20 low, has been cleared and this signals scope for an extension of the current bear cycle - a correction. Scope is seen for a move towards 1.4107, a Fibonacci retracement. Initial firm resistance to watch is 1.4380, the Feb 10 high. A break would highlight an early bullish reversal signal.
Friday's US rates/bond options flow included: