Free Trial

2Y Auction: A Second Low Bid-To-Cover

CANADA
  • Canada sold C$6.5bn of the 4% May’26 at an average yield of 4.172%.
  • The bid-to-cover of 2.263x only lifted modestly from the 2.16x of late Feb. It’s below the five-auction average of 2.38x (which also included the 2.6 from early Feb to offset the low early Feb).
  • Very little reaction to the auction after US 2Y yields lifted to YTD highs just ahead of it, narrowing GoC underperformance. 2Y GoC yields are still +3.5bps on the day, 8bps below YTD highs.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.