Week Ending January 5, 2026
Central Banks Hold Steady as 2026 Begins
Policy Rates
🇨🇦
0.00%
BoC
🇺🇸
0.00%
Fed
🇪🇺
0.00%
ECB
🇬🇧
0.00%
BoE
At a Glance
🇨🇦 10Y
0.00%
-8bps
🇺🇸 10Y
0.00%
-5bps
IG Spread
0bps
Tight
HY Spread
0bps
Tight
Duration: Neutral
Credit: Cautious
Quality: Positive
Key Takeaways
Rates: Central banks on hold. Favor 2-5Y maturities. U.S. 10Y expected 3.75-4.25% range.
Credit: Spreads historically tight. Fundamentals solid but valuations leave little room for error.
Hedging: Neutral duration appropriate. Agency MBS offers quality yield pickup over corporates.