• Canada sells $5B of the 3.5% Sep-2029 at 1200ET, the first auction since the 2Y on Jun 27 drew its lowest bid-to-cover since 2009.
  • The previous 5Y auction saw a bid-to-cover of 2.35x and a five-auction average of 2.40x.
  • Can-US 5Y yield differentials currently sit +2bp higher on the day at circa -88bps.

CANADA: 5Y Auction Ahead

Last updated at:Jul-03 15:59By: Chris Harrison
  • Canada sells $5B of the 3.5% Sep-2029 at 1200ET, the first auction since the 2Y on Jun 27 drew its lowest bid-to-cover since 2009.
  • The previous 5Y auction saw a bid-to-cover of 2.35x and a five-auction average of 2.40x.
  • Can-US 5Y yield differentials currently sit +2bp higher on the day at circa -88bps.

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