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Government of Canada Securities - April 2001
- Government of Canada Securities 2001 -
- Adobe Acrobat Version (79,689 bytes).
- Canadian Economy - Primary Market - Secondary Market -
Upcoming economic data releases of interest
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| April | May | June |
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| March CPI (April 20) | April Labour Force Survey (May 11) | May Labour Force Survey (June 8) |
| April CPI (May 17) | May CPI (June 15) | |
| National Economic and Financial Accounts January-March 2001 (May 31) | ||
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Canadian Economy
Selected Canadian economic statistics
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| 2000 | |||||
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| 1999 | 2000 | Q2 | Q3 | Q4 | |
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| Annualized growth rates | (per cent) | ||||
| Real GDP | 4.5 | 4.7 | 4.3 | 4.5 | 2.6 |
| GDP excluding inventories | 4.7 | 4.4 | 5.0 | 3.0 | 5.3 |
| Final domestic demand | 4.4 | 5.2 | 5.5 | 4.9 | 0.1 |
| Employment growth | 2.8 | 2.6 | 1.7 | 1.0 | 3.0 |
| Other | |||||
| Unemployment rate | 7.6 | 6.8 | 6.7 | 6.9 | 6.9 |
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Current account balance (percentage of GDP) |
-0.4 | 1.8 | 1.5 | 1.8 | 2.2 |
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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** (basis points) |
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| (years) | (%) | (millions of dollars) | (%) | |||||
| Mar. 14, 2001 | 2 | June 1, 2003 | 5.75 | 3,500 | 102.207 | 4.684 | 2.2 | 0.6 |
| Feb. 28, 2001 | 30 | Dec. 1, 2031 | 4*** | 350 | 111.281 | 3.394 | 2.7 | n.a. |
| Feb. 7, 2001 | 5 | Sept. 1, 2006 | 5.75 | 2,500 | 102.394 | 5.247 | 2.6 | 0.2 |
| 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. |
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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) | ||||
| 30-year auction | Apr. 18 | Apr. 12 | Apr. 23 | - |
| 10-year auction | May 2 | Apr. 26 | May 7 | - |
| 5-year auction | May 30 | May 24 | June 4 | - |
| 2-year auction | June 13 | June 7 | June 15 | - |
| RRB | June 6 | May 31 | June 11 | - |
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Note: Four repurchase operations of Government of Canada marketable
bonds are planned under the bond repurchase program. The target amount
for repurchase this quarter is $1.4 billion. Repurchase
operations will take place in conjunction with each nominal bond
auction. Further details will be released with the bond auction Call
For Tenders of the corresponding sector. * Maturity of $1,325 million on May 1, 2001, and of $8,058 million on June 1, 2001. |
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Government of Canada bond market benchmarks (March 26, 2001)
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| Term | Maturity | Coupon | Amount outstanding |
Yield (March 26, 2001) |
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| (%) | (millions of dollars) | (%) | ||
| Fixed-coupon | ||||
| 2-year | June 1, 2003 | 5.75 | 7,000 | 4.61 |
| 5-year | Sept. 1, 2005 | 6.00 | 11,100 | 4.94 |
| 10-year | June 1, 2011 | 6.00 | 10,100 | 5.32 |
| 30-year | June 1, 2029 | 5.75 | 10,100 | 5.70 |
| Real return | ||||
| 30-year | Dec. 1, 2026 | 4.25 | 5,250 | 3.44 |
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| Note: The normal bid-ask spread on these bonds is around 5 cents. | ||||
Forthcoming Government of Canada marketable bond maturities
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April-June 2001 |
July-September 2001 |
October-December 2001 |
January-March 2002 |
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| (millions of dollars) | |||
| 8,058 | 10,600 | 11,764 | 552 |
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Outstanding Government of Canada foreign-currency debt (February 2001)
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| (US$ millions) | |
| Canada Bills | 4,018 |
| Canada Notes | 1,053 |
| Outstanding under EMTN program | 2,609 |
| 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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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 |
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Foreign debt – Trend |
AA+ Stable |
Aa1 Stable |
AA+ Stable |
AA (high) Stable |
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Except as noted, the information in Government of Canada Securities is based upon data available up to March 27, 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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