=> Expecting NY to lower the bid as early as today, this trade is not at all crowded ...
=> The Canadian economy is strong and with rising rates the CAD is trading at a discount. There are little idiosyncratic factors influencing Canada other than the recently cleared "NAFTA" 2.0
=> Energy prices are playing a decreasing role with importance starting to shift towards yield differentials
=> The risk to our thesis is a stronger dollar via EUR, JPY and GBP weakness
=> Good luck all