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Government of Canada Securities - November 2001
- Government of Canada Securities 2001 -
- Adobe Acrobat Version (96 896 bytes).
- Canadian Economy - Primary Market - Secondary Market -
Canadian Economy
Upcoming economic data releases of interest
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| November | December | January |
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| National Economic and Financial Accounts July-September 2001 (November 30) | November Labour Force Survey (December 7) | December Labour Force Survey (January 11) |
| November CPI (December 20) | December CPI (January 22) | |
| October Real GDP (December 24) | November Real GDP (January 31) | |
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Selected Canadian economic statistics
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| 2000 | 2001 | ||||
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| 1999 | 2000 | Q4 | Q1 | Q2 | |
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| Annualized growth rates | (per cent) | ||||
| Real GDP | 5.1 | 4.4 | 1.6 | 2.0 | 0.4 |
| Final domestic demand | 4.1 | 4.0 | 1.1 | 2.6 | 1.7 |
| Employment growth | 2.8 | 2.6 | 3.0 | 0.9 | 1.1 |
| Other | |||||
| Unemployment rate | 7.6 | 6.8 | 6.9 | 7.0 | 7.0 |
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Current account balance (percentage of GDP) |
0.2 | 2.5 | 3.2 | 4.9 | 3.6 |
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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) | ||||
| Nov.14, 2001 | 5 | Sept. 1, 2006 | 4.5 | 2,500 | 99.754 | 4.55 | 2.25 | 0.9 |
| Oct. 24, 2001 | 10 | June 1, 2012 | 5.25 | 2,500 | 99.412 | 5.324 | 2.566 | 0.5 |
| Oct. 10, 2001 | 30 | June 1, 2033 | 5.75 | 2,000 | 99.863 | 5.760 | 2.241 | 1.5 |
| Sept. 24, 2001 | 30 | Dec. 1, 2031 | 4*** | 300 | 104.861 | 3.730 | 2.91 | 6 |
| Aug. 29, 2001 | 2 | Dec. 1, 2003 | 5 | 3,500 | 101.099 | 4.479 | 2.37 | 0.8 |
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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 | November 28 | November 22 | November 30 | – |
| 30-year RRB auction | December 5 | November 29 | December 10 | – |
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Note: Three repurchase operations of Government of Canada
marketable bonds are planned under the bond repurchase program. The
target amount for repurchase this quarter is $1.7 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 $9,419 million on December 3, 2001. Source: Department of Finance. |
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Government of Canada bond market benchmarks
(October 31, 2001)
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| Term | Maturity | Coupon |
Amount outstanding |
Yield (Oct. 31, 2001) |
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| (%) | (millions of dollars) | (%) | ||
| Fixed-coupon | ||||
| 2-year | June 1, 2004 | 6.50 | 7,900 | 2.92 |
| 5-year | Sept. 1, 2006 | 5.75 | 10,000 | 4.08 |
| 10-year | June 1, 2012 | 5.25 | 2,500 | 4.86 |
| 30-year | June 1, 2033 | 5.75 | 2,000 | 5.31 |
| Real return | ||||
| 30-year | Dec. 1, 2031 | 4.25 | 3,700 | 3.68 |
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Note: The normal bid-ask spread on these bonds is around 5 cents. Source: Department of Finance. |
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Forthcoming Government of Canada marketable
bond maturities
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October-December 2001 |
January-March 2002 |
April-June 2002 |
July-September 2002 |
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| (millions of dollars) | |||
| 10,333 | 552 | 13,792 | 18,402 |
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Outstanding Government of Canada foreign-currency debt
(as of October
2001)
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| (US$ millions) | |
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| Canada Bills | 4,036 |
| Canada Notes | 928 |
| Outstanding under EMTN program | 2,505 |
| 6 1/8% US$ bonds maturing July 15, 2002 | 1,000 |
| 5 5/8% US$ bonds maturing February 19, 2003 | 2,000 |
| 6 3/8% US$ bonds maturing November 30, 2004 | 2,000 |
| 6 3/8% US$ bonds maturing July 21, 2005 | 1,500 |
| 6 3/4% US$ bonds maturing August 28, 2006 | 1,000 |
| 6 5/8% NZ$ bonds maturing October 3, 2007 | 319 |
| 4 7/8% DM bonds maturing July 7, 2008 | 2,219 |
| 5 1/4% US$ bonds maturing November 5, 2008 | 2,500 |
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| Source: Department of Finance. | |
Secondary Market
Government securities distributors
- Bank of Montreal (Treasury bills only)
- Beacon Securities Limited
- BMO Nesbitt Burns Inc. (marketable bonds only)
- Canaccord Capital Corp.
- Canadian Imperial Bank of Commerce (Treasury bills only)
- Casgrain & Company Limited
- CIBC World Markets Inc. (marketable bonds only)
- CTI Capital Inc.
- Deutsche Bank Securities Limited
- Golden Capital Securities Limited
- HSBC Bank Canada
- Laurentian Bank Securities Inc.
- Merrill Lynch Canada Inc.
- J.P. Morgan Securities Canada Inc.
- National Bank Financial Inc.
- Ocean Securities Inc.
- Odlum Brown Limited
- RBC Dominion Securities Inc.
- Resolution Capital Inc.
- Scotia Capital Inc.
- Société Générale Valeurs Mobilières Inc.
- The Toronto-Dominion Bank
- Valeurs Mobilières Desjardins
Government of Canada long-term credit ratings
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Standard & Poor’s Current |
Moody’s Investors Service Current |
Dominion Bond Rating Service Current |
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Domestic debt
– Trend |
AAA Stable |
Aa1 Stable |
AAA Stable |
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Foreign debt
– Trend |
AA+ Stable |
Aa1 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 November 13, 2001.
For further information, contact Kevin McSweeney at (613) 992-3566.
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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