Rates are several basis points higher this morning after a blowout January employment report in the US has whetted risk appetite across asset classes.
Nonfarm Payrolls grew by 243,000 jobs (140k exp.), with Private Payrolls up 257,000 (160k exp.), and Manufacturing Jobs up 50,000 (12k exp.), while the Unemployment Rate declined to 8.3% from 8.5%
The US report always drives the markets so it’s no surprise that rates are up in Canada in spite of our own relatively poor employment report for January. Canada added just 2,300 jobs last month and the unemployment rate rose to 7.6% from 7.5%. The jobs number fell considerably short of the 22,000 new jobs that were expected.
Also out later today are the US December Factory Orders and ISM Non-Manufacturing Composite (both 10am).
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