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Canada Inflation Falls to 2.8%, Core Measures Ease, 10s -2bp — desk brief, Mon 20 Jul 2026

Treasuries (close 2026-07-17): 2s 4.18% (+2.0bp), 10s 4.55% (-2.0bp), 30s 5.06% (-3.0bp).

Tape (close 2026-07-17): VIX 18.77, 2s10s +37bp.

Narrative: Energy secretary: US 'will continue to assure flow of traffic' through Strait of Hormuz amid reignited Iran war

What mattered:

  • Canada Inflation Falls to 2.8%, Core Measures Ease
  • Morgan Stanley on the Fed: 3 Hikes, You're Out
  • Strong jobs market continues to fuel sticky inflation, Apollo says
  • Goldman Sees Turkey Likely Tolerating Faster Lira Slide
  • IDR/USD: Rupiah May Recover on Rate Hike, Stronger Fiscals, Analysts Say
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