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Treasury
China's Outstanding Yuan Loan Growth Accelerates to 5.3% in June
China's outstanding yuan loans grew 5.3% year over year to 279.16 trillion yuan as of the end of June, according to data from the People's Bank of China released on Wednesday.The growth rate was softer than the 5.5% expansion recorded in the previous month. It missed the consensus forecast of 5.4% tracked by Investing.com.
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Treasury
US Treasury Closing Levels
3:00 Wednesday vs 3:00 Tuesday2yr 99-31 vs 99-27; 4.126% vs 4.191%5yr 99-13 vs 99-04; 4.255% vs 4.319%10yr 99-01 vs 98-24+; 5.076% vs 5.098%30yr 98-23 vs 98-18; 5.081% vs 5.093%2/10 41.701 bps vs 39.005 bps5/30 82.542 bps vs 77.189 bps
Treasury
Bank of Canada Seen Holding Steady This Year as It Signals No Urgency to Move, Economists Say
Stronger data and resilient markets have improved the Bank of Canada's near-term outlook, but not its medium-term view, allowing economists to predict the central bank will remain on hold through the rest of 2026.The BoC on Wednesday decided to leave rates on hold for the sixth-consecutive policy meeting as it assessed a mixed economic outlook and easing inflation pressures."It doesn't seem like the Bank is in any rush whatsoever to move off the sidelines, even if their rhetoric leans slightly hawkish," wrote Bank of Montreal Capital Markets Chief Economist Douglas Porter. "The Bank's tone around the economic outlook was a tad more upbeat, with plenty of suggestions that growth was turning the corner.""Canada's economy is showing signs of improvement," wrote the BoC in its opening statement on Wednesday. It defined the current rate as appropriate.The BoC expects Q2 gross domestic product growth to rebound to 2.5% annualized, supported by stronger exports, consumer spending, and business investment despite a soft labor market. The Monetary Policy Report left the broader outlook largely unchanged, while continuing to emphasize elevated uncertainty.The BoC's "message remains one of patience," wrote TD Economics' Maria Solovieva, adding she continues to see the central bank on hold this year.The BoC's statement suggests growing confidence in the economy, adding that the Governing Council will continue to assess its "strength" when considering future rate decisions. While this suggests the recovery is gaining traction, it doesn't signal imminent rate hikes, with economic slack remaining substantial.The strength of the economy has entered the conversation about the future path of monetary policy in Canada, Ali Jaffery, chief economist at KPMG Canada, wrote in a statement."We continue to view the Bank as patient and data dependent, waiting to see how risks to the economy and inflation play out," added Katherine Judge at CIBC Economics.National Bank of Canada said it continues to expect policy tightening in the first half of 2027 as "economic slack is gradually absorbed".
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