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Government of Canada Securities - February 2001
- Government of Canada Securities 2001 -
- Adobe Acrobat version (77,972 bytes).
- Canadian Economy - Primary Market - Secondary Market -
Upcoming economic data releases of interest
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| February | March | April |
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| January CPI (February 15) |
February Labour Force Survey (March 9) |
March Labour Force Survey (April 6) |
| 2000 Q4 National Accounts (February 28) |
February CPI (March 21) |
March CPI (April 20) |
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Canadian Economy
Selected Canadian economic statistics
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| 2000 | |||||
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| 1998 | 1999 | Q1 | Q2 | Q3 | |
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| (per cent) | |||||
| Annualized growth rates | |||||
| Real GDP | 3.3 | 4.5 | 5.5 | 4.6 | 4.8 |
| GDP excluding inventories | 3.9 | 4.7 | 6.0 | 4.9 | 3.0 |
| Final domestic demand | 2.8 | 4.4 | 5.8 | 5.7 | 5.9 |
| Employment growth | 2.7 | 2.8 | 3.8 | 1.6 | 0.7 |
| Other | |||||
| Unemployment rate | 8.3 | 7.6 | 6.8 | 6.7 | 6.9 |
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Current account balance (percentage of GDP) |
-1.8 | -0.4 | 1.8 | 1.4 | 1.3 |
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| Source: Statistics Canada. | |||||
Primary Market
Recent Government of Canada bond auction results
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| Auction date | Term | Maturity date | Coupon rate | Issue amount |
Average price |
Average yield |
Auction coverage* | Tail** |
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| (years) | (%) | (millions of dollars) | (%) | (basis points) | ||||
| Jan. 24, 2001 | 10 | June. 1, 2011 | 6 | 2,500 | 103.694 | 5.525 | 2.5 | 1.4 |
| Dec. 6, 2000 | 30 | Dec. 1, 2031 | 4*** | 350 | 110.415 | 3.45 | 2.9 | n.a. |
| Nov. 22, 2000 | 2 | June 1, 2003 | 5.75 | 3,500 | 99.844 | 5.818 | 2.7 | 0.4 |
| Oct. 30, 2000 | 10 | June 1, 2011 | 6 | 2,400 | 102.506 | 5.681 | 2.7 | 0.8 |
| Sept. 13, 2000 | 2 | Dec. 1, 2002 | 6 | 3,500 | 100.467 | 5.768 | 2.4 | 0.5 |
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*Coverage is defined as the ratio of total bids at auction to the
amount auctioned. **Tail is defined as the high accepted yield minus the average yield. ***RRB Source: Department of Finance. |
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Forthcoming Government of Canada bond auctions
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| Type of issue | Auction date (2001) | Further details of issue (2001) |
Dated and delivered (2001) |
Amount maturing* |
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| (millions of dollars) | ||||
| 2-year auction | Mar. 14 | Mar. 8 | Mar. 16 | - |
| RRB | Feb. 28 | Feb. 22 | Mar. 5 | - |
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Note: Two repurchase operations of Government of Canada
marketable bonds are planned under the bond repurchase program. One repurchase operation will take place in the 10-year sector and a second in the 5-year sector. Further details will be released on January 18 and February 2, respectively. * Maturity of $12,575 million on March 1, 2001. |
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Government of Canada bond market benchmarks (January 31, 2001)
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| Term | Maturity | Coupon | Amount outstanding | Yield (Jan. 31, 2001) |
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| (%) | (millions of dollars) | (%) | ||
| Fixed-coupon | ||||
| 2-year | Dec. 1, 2002 | 6.00 | 7,100 | 4.88 |
| 5-year | Sept. 1, 2005 | 6.00 | 11,100 | 5.14 |
| 10-year | June 1, 2010 | 5.50 | 10,400 | 5.39 |
| 30-year | June 1, 2029 | 5.75 | 10,100 | 5.72 |
| Real return | ||||
| 30-year | Dec. 1, 2026 | 4.25 | 5,250 | 3.36 |
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Note: The normal bid-ask spread on these bonds is around 5 cents. Source: Department of Finance. |
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Forthcoming Government of Canada marketable bond maturities
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January-March 2001 |
April-June 2001 |
July-September 2001 |
October-December 2001 |
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| (millions of dollars) | |||
| 13,000 | 11,875 | 10,600 | 11,764 |
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Outstanding Government of Canada foreign-currency debt (January 22, 2001)
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| (US$ millions) | |
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| Canada Bills | 3,975 |
| Canada Notes | 638 |
| Outstanding under EMTN program | 3,028 |
| 61⁄2% US$ bonds maturing May 30, 2001 | 1,000 |
| 61⁄8% US$ bonds maturing July 15, 2002 | 1,000 |
| 55⁄8% US$ bonds maturing February 19, 2003 | 2,000 |
| 63⁄8% US$ bonds maturing November 30, 2004 | 2,000 |
| 63⁄8% US$ bonds maturing July 21, 2005 | 1,500 |
| 63⁄4% US$ bonds maturing August 28, 2006 | 1,000 |
| 65⁄8% NZ$ bonds maturing October 3, 2007 | 319 |
| 47⁄8% DM bonds maturing July 7, 2008 | 2,219 |
| 51⁄4% US$ bonds maturing November 5, 2008 | 2,500 |
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| Source: Department of Finance. | |
Secondary Market
Government securities distributors
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Bank of Montreal (Treasury bills only)
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Beacon Securities Limited
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BLC Securities Inc.
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La Caisse centrale Desjardins du Québec
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Canaccord Capital Corp.
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Canadian Imperial Bank of Commerce (Treasury bills only)
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Casgrain & Company Limited
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CIBC World Markets Inc. (marketable bonds only)
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CTI Capital Inc.
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Deutsche Bank Securities Limited
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Golden Capital Securities Limited
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Goldman Sachs Canada
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HSBC Bank Canada
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Merrill Lynch Canada Inc.
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J.P. Morgan Securities Canada Inc.
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Morgan Stanley Canada Limited
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National Bank Financial Inc.
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Nesbitt Burns Inc. (marketable bonds only)
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Ocean Securities Inc.
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Odlum Brown Limited
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RBC Dominion Securities Inc.
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Salomon Smith Barney Canada Inc.
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Scotia Capital Inc.
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Société Générale Valeurs Mobilières Inc.
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The Toronto-Dominion Bank
Government of Canada long-term credit ratings
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| Standard & Poor’s Current | Moody’s Investors Service Current | Canadian Bond Rating Service Current | Dominion Bond Rating Service Current | |
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| Domestic debt | ||||
| – Trend |
AAA Stable |
Aa1 Stable |
AA+ Stable |
AAA Stable |
| Foreign debt | ||||
| – Trend |
AA+ Stable |
Aa1 Stable |
AA+ Stable |
AA (high) Stable |
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This publication is also available on the Internet at http://www.fin.gc.ca/.
Except as noted, the information in Government of Canada Securities is based upon data available up to February 1, 2001.
For further information, contact Rudy Narvas at (613) 992-7274.
For additional copies or subscription inquiries, please contact the Distribution Centre at (613) 995-2855.
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| Last Updated: 2004-10-29 |
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