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3Y Auction: Bounce In Demand Doesn't Stop GoC Sell-Off

CANADA
  • Canada sells C$3B of the 3.0% Apr 2026 at an average yield of 3.666%.
  • The b/c of 2.527 is in more typical ranges after recent swings, lifting off 2.266 on Apr 24 after an exceptionally high 3.184 from Jan.
  • GoCs continue to plum lows on the day in the front-end to belly, with 2Y and Y yields up ~7.5bps on the day.


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