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10Y Auction - Highest Yield Since 2007

CANADA
  • Canada sold C$3B of the 3.25% Dec-2033 at an average yield of 4.063%, its highest since Oct ‘07.
  • The bid-to-cover of 2.303 compared to the 2.40 at the last auction and a five-auction average of 2.32.
  • 10Y GoCs have sold off a further 1bp since just before the auction, now +6.2bps on the day vs +4.9bps for Tsys.

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