March 15, 2023 16:15 GMT
10Y Auction: Lowest Average Yield Since Mar’22
- Canada sells C$4B of the 2.75% Jun-2033 at an average yield of 2.717% and high yield of 2.730%. Market conditions allowed the Govt to issue 66bps lower than last month’s Feb 23, at the lowest average yield in a year.
- Bid-to-cover of 2.171, above the 2.304 of the prior three auctions.
- After a strong open and further large rally earlier in the session, 10Y GoC yields have broadly been range bound for the past two hours, holding just 22bps lower on the day (Tsys -28bps).