Daily Points

Scotiabank's daily update highlights skepticism toward current market pricing of Fed rate hikes while noting a surprising rate hike from Bank Indonesia and potential trade irritants arising from Canada's proposed social media legislation.

Key Takeaways

• 1.The bond market is often fallible and current pricing of rate hikes is likely incorrect.
• 2.Bank Indonesia implemented an unplanned 25bps rate hike to support the rupiah.
• 3.Proposed Canadian social media bans for children may create trade friction under USMCA negotiations.

Table of Contents

• Key Points
• Bonds Don't Always Know Best
• Modest Data Developments
• Canada's Social Media Ban Is Poorly Timed

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