MONTH-END EXTENSIONS: CIBC Flag More Meaningful Extension For BBG CAD Than FTSE

CIBC note that "modified duration is expected to remain essentially unchanged in the FTSE Canada Universe Bond Index (-0.003yrs) on October 1, with similar negligible changes across the Short (-0.003yrs), Mid (-0.002yrs), and Long (-0.002yrs) segments." * "In contrast, the Bloomberg Global Aggregate Canadian Float Adjusted Bond Index is expected to experience a more meaningful duration extension of +0.084yrs on September 30. This extension could drive incremental bond buying near month-end from non-domestic investors tracking the Bloomberg index, despite the lack of significant domestic rebalancing activity associated with FTSE-benchmarked investors."