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Canada's Three-Month T-Bill Auction Sees Strong Demand

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The Government of Canada's latest three-month Treasury bill auction saw solid demand, with C$28.4 billion in bids for $16.4 billion of securities, resulting in a bid-to-cover ratio of 1.58 times, according to data published on the Bank of Canada's website on Tuesday.

The average yield was 2.298%, with accepted bids ranging from 2.287% to 2.306%, according to the BoC.

The BoC purchased C$164 million, while distributors submitted C$25.9 billion in competitive bids.

Canadian investors received the vast majority of allocations, at 94.1%, versus 5.9% for international accounts. This highlights strong domestic demand for short-term Canadian government debt.

The T-bills will mature on Nov. 18, 2026.

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