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CANADA: 5Y Auction Follows 10Y With Low Bid-to-Cover

CANADA

Canada has sold C$5bn of the 2.75% Mar’30 at an average yield of 3.312%. 

  • The bid-to-cover of 2.139 is the lowest for a 5Y auction since Jul 2023, and follows 2.225 in October or a five-auction average of 2.355.
  • It comes after yesterday’s 10Y saw the lowest since Oct 2022. 
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Canada has sold C$5bn of the 2.75% Mar’30 at an average yield of 3.312%. 

  • The bid-to-cover of 2.139 is the lowest for a 5Y auction since Jul 2023, and follows 2.225 in October or a five-auction average of 2.355.
  • It comes after yesterday’s 10Y saw the lowest since Oct 2022.