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Government of Canada Two-Year Bond Auction Sees Strong Demand

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The Government of Canada's (GoC) two-year bond auction on Wednesday saw solid demand, with C$5.5 billion sold at an average yield of 3.023% and bids nearly three times the amount offered, according to data available on the Bank of Canada website.

The auction recorded a 2.789 bid-to-cover ratio, meaning investors submitted nearly C$2.79 in bids for every dollar offered, according to the BoC. The high yield was 3.025%, while the low yield was 3.018%.

Canadian accounts received 54.5% of the allocation, while international accounts took 45.5%.

The maturity date is Nov. 1, 2028.

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