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30Y Auction: Highest Average Yield Since 2010

CANADA
  • Canada sold C$1.25B of the 2.75% Dec 2055 at an average yield of 3.712%, its highest since 2010.
  • The bid-to-cover of 2.50 was above the five auction average of 2.41 but in line with the last two auctions near highs for the past year.
  • 30Y yields have since increased 1.5bps for +5.5bps on the day but still lag the +10.5bp seen in Treasuries.

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