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Archived - Debt Management Report 2007-2008

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Dept Management Report 2007-2008 : 3
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Reference Table V
Fiscal 2007–08 Treasury Bill Auction Results
Auction  date Term Issue amount Average price Average yield Bid coverage Tail
  (months) ($ millions) ($) (%)   (basis points)
Apr. 3, 2007 12 1,800 96.119 4.211 2.468 0.4
Apr. 3, 2007 3 4,400 98.893 4.169 2.536 0.4
Apr. 3, 2007 6 1,800 98.101 4.206 2.449 0.2
Apr. 17, 2007 12 1,600 95.893 4.295 2.254 0.8
Apr. 17, 2007 3 3,800 98.893 4.168 2.398 0.3
Apr. 17, 2007 6 1,600 97.930 4.240 2.435 0.3
May 1, 2007 12 1,600 96.025 4.317 2.268 0.8
May 1, 2007 3 3,800 98.894 4.166 2.213 0.1
May 1, 2007 6 1,600 98.083 4.246 2.241 0.4
May 15, 2007 12 1,600 95.853 4.338 2.301 0.4
May 15, 2007 3 3,800 98.894 4.164 2.208 0.3
May 15, 2007 6 1,600 97.926 4.247 2.348 0.2
May 25, 2007 NF1 2,000 99.908 4.211 3.302 2.3
May 29, 2007 12 1,800 95.811 4.559 2.165 2.1
May 29, 2007 3 4,400 98.862 4.286 2.228 0.4
May 29, 2007 6 1,800 98.000 4.433 2.323 0.9
May 30, 2007 NF 1,500 99.609 4.211 3.669 0.9
May 31, 2007 NF 1,200 99.965 4.248 2.167 1.7
Jun. 12, 2007 12 1,900 95.451 4.779 1.948 1.1
Jun. 12, 2007 3 4,700 98.846 4.349 2.265 0.5
Jun. 12, 2007 6 1,900 97.777 4.560 1.901 1.0
Jun. 14, 2007 NF 1,700 99.760 4.180 2.972 3.0
Jun. 20, 2007 NF 2,700 99.814 4.248 1.656 5.2
Jun. 26, 2007 12 2,200 95.648 4.745 2.480 0.3
Jun. 26, 2007 3 5,600 98.828 4.418 2.097 0.7
Jun. 26, 2007 6 2,200 97.943 4.563 2.149 0.7
Jun. 27, 2007 NF 2,800 99.918 4.255 2.159 2.5
Jun. 28, 2007 CMB2 3,000 99.838 4.236 2.318 1.9
Jul. 10, 2007 12 2,100 95.479 4.748 2.473 1.0
Jul. 10, 2007 3 5,300 98.803 4.512 2.211 0.7
Jul. 10, 2007 6 2,100 97.747 4.623 2.143 0.7
Jul. 12, 2007 NF 1,900 99.747 4.408 2.181 6.2
Jul. 19, 2007 NF 2,000 99.829 4.471 2.631 2.9
Jul. 24, 2007 12 1,800 95.617 4.780 2.217 1.2
Jul. 24, 2007 3 4,400 98.790 4.562 2.267 0.8
Jul. 24, 2007 6 1,800 97.889 4.685 2.093 1.2
Jul. 26, 2007 CMB 2,000 99.829 4.468 1.750 2.9
Aug. 7, 2007 12 1,900 95.472 4.756 2.329 0.7
Aug. 7, 2007 3 4,700 98.778 4.609 2.180 1.3
Aug. 7, 2007 6 1,900 97.711 4.698 2.243 0.7
Aug. 21, 2007 12 1,900 96.252 4.061 2.349 1.9
Aug. 21, 2007 3 4,700 98.935 4.009 2.376 4.1
Aug. 21, 2007 6 1,900 98.162 4.067 2.319 1.3
Aug. 22, 2007 CMB 2,500 99.846 4.017 1.981 3.3
Aug. 28, 2007 CMB 2,500 99.763 3.943 2.121 2.7
Aug. 31, 2007 NF 1,500 99.882 4.299 2.627 9.1
Sep. 4, 2007 12 2,000 95.837 4.356 2.018 1.9
Sep. 4, 2007 3 5,000 98.916 4.081 2.007 1.9
Sep. 4, 2007 6 2,000 97.901 4.299 2.203 3.1
Sep. 18, 2007 12 1,800 95.959 4.392 2.161 1.1
Sep. 18, 2007 3 4,400 98.910 4.105 2.181 1.3
Sep. 18, 2007 6 1,800 98.059 4.300 2.373 0.6
Sep. 20, 2007 CMB 2,000 99.841 4.146 2.241 2.1
Oct. 2, 2007 12 1,700 95.954 4.228 2.028 1.2
Oct. 2, 2007 3 4,100 98.933 4.015 2.095 0.9
Oct. 2, 2007 6 1,700 97.945 4.207 2.152 2.3
Oct. 16, 2007 12 1,700 95.931 4.423 2.360 0.7
Oct. 16, 2007 3 4,100 98.941 3.987 2.433 1.0
Oct. 16, 2007 6 1,700 98.059 4.300 2.088 1.7
Oct. 18, 2007 NF 3,200 99.796 4.145 2.563 1.9
Auction date Term Issue amount Average price Average yield Bid coverage Tail
  (months) ($ millions) ($) (%)   (basis points)
Oct. 19, 2007 NF 2,400 99.782 4.196 1.758 3.4
Oct. 29, 2007 CMB 1,500 99.817 4.176 1.979 4.1
Oct. 30, 2007 12 2,100 95.884 4.305 2.432 0.5
Oct. 30, 2007 3 5,300 98.946 3.968 2.262 1.2
Oct. 30, 2007 6 2,100 97.927 4.246 2.179 0.4
Nov. 13, 2007 12 2,500 96.112 4.219 2.086 0.8
Nov. 13, 2007 3 6,500 98.933 4.015 2.257 0.8
Nov. 13, 2007 6 2,500 98.096 4.217 2.171 0.8
Nov. 19, 2007 CMB 2,500 99.746 4.048 1.981 2.2
Nov. 27, 2007 12 2,600 96.265 3.891 2.367 0.9
Nov. 27, 2007 3 6,800 98.958 3.920 2.255 0.7
Nov. 27, 2007 6 2,600 98.073 3.940 2.335 1.0
Nov. 28, 2007 NF 2,000 99.919 4.228 2.935 2.2
Nov. 30, 2007 NF 1,000 99.920 4.175 3.672 2.5
Dec. 11, 2007 12 1,800 96.286 4.023 2.276 0.7
Dec. 11, 2007 3 4,400 98.968 3.884 2.284 0.6
Dec. 11, 2007 6 1,800 98.192 4.001 2.337 0.9
Dec. 13, 2007 NF 2,500 99.767 4.065 2.365 3.5
Dec. 19, 2007 NF 3,000 99.834 4.048 3.421 0.2
Dec. 21, 2007 12 1,700 96.177 3.997 1.907 1.8
Dec. 21, 2007 3 4,100 98.974 3.862 2.117 1.4
Dec. 21, 2007 6 1,700 98.043 4.003 1.978 1.2
Jan. 8, 2008 12 1,600 96.522 3.769 2.425 0.6
Jan. 8, 2008 3 3,800 99.004 3.748 2.398 0.6
Jan. 8, 2008 6 1,600 98.286 3.789 2.163 1.1
Jan. 21, 2008 CMB 1,500 99.830 3.649 2.321 1.4
Jan. 22, 2008 12 1,700 96.765 3.352 2.336 1.6
Jan. 22, 2008 3 4,100 99.081 3.455 2.414 0.5
Jan. 22, 2008 6 1,700 98.304 3.459 2.535 1.0
Jan. 24, 2008 NF 2,300 99.917 3.793 1.679 15.7
Jan. 30, 2008 NF 1,500 99.946 3.966 2.213 1.9
Feb. 5, 2008 12 1,900 96.998 3.228 2.083 1.2
Feb. 5, 2008 3 4,700 99.119 3.312 2.150 0.8
Feb. 5, 2008 6 1,900 98.490 3.330 2.361 1.0
Feb. 15, 2008 NF 1,200 99.840 3.442 1.833 20.8
Feb. 19, 2008 12 2,100 96.942 3.163 2.325 1.7
Feb. 19, 2008 3 5,300 99.138 3.239 2.181 0.7
Feb. 19, 2008 6 2,100 98.407 3.247 2.105 2.2
Feb. 21, 2008 CMB 2,500 99.631 3.219 1.954 2.1
Feb. 28, 2008 NF 1,000 99.960 3.613 2.475 34.7
Mar. 4, 2008 12 2,200 97.304 2.889 2.397 0.6
Mar. 4, 2008 3 5,600 99.218 2.936 2.506 0.8
Mar. 4, 2008 6 2,200 98.656 2.960 2.199 1.3
Mar. 14, 2008 CMB 2,500 99.807 2.273 2.033 2.7
Mar. 18, 2008 12 2,300 97.721 2.339 2.247 1.6
Mar. 18, 2008 3 5,900 99.459 2.025 2.248 2.5
Mar. 18, 2008 6 2,300 98.873 2.286 2.498 1.4
Mar. 20, 2008 NF 2,700 99.928 2.202 1.129 119.8
Mar. 28, 2008 NF 1,200 99.941 3.071 3.220 22.9
Mar. 31, 2008 NF 600 99.966 3.061 4.482 3.9
Total    287,900        
Note: 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.
1Non-fungible cash management bill.
2Cash management bill.
Source: Bank of Canada.
Reference Table VI
Issuance of Government of Canada Domestic Bonds
  Gross issuance Buybacks Net
issuance
 
  Nominal1 RRB Total Cash Switch Total  
 
         
Fiscal year 2-year 3-year 5-year 10-year 30-year Total 30-year          
($ billions)
1995–96 11.1 5.1 17.0 10.5 5.0 48.7 1.0 49.7       49.7
1996–97 12.0 11.1 13.3 11.8 5.8 54.0 1.7 55.7       55.7
1997–98 14.0   9.9 9.3 5.0 38.2 1.7 39.9       39.9
1998–99 14.0   9.8 9.2 3.3 36.3 1.6 37.9       37.9
1999–00 14.2   14.0 12.9 3.7 44.8 1.3 46.0 -2.7 0.0 -2.7 43.3
2000–01 14.1   10.5 10.1 3.8 38.5 1.4 39.9 -2.8 0.0 -2.8 37.1
2001–02 14.0   10.0 9.9 6.3 40.2 1.4 41.6 -5.3 -0.4 -5.6 35.9
2002–03 13.9   11.0 12.6 4.8 42.3 1.4 43.7 -7.1 -5.0 -12.1 31.6
2003–04 13.0   10.7 11.5 4.2 39.4 1.4 40.8 -5.2 -5.0 -10.2 30.7
2004–05 12.0   9.6 10.6 3.3 35.5 1.4 36.9 -6.8 -4.7 -11.4 25.5
2005–06 10.0   9.2 10.0 3.2 32.4 1.5 33.9 -5.3 -3.3 -8.6 25.3
2006–07 10.3   7.8 10.4 3.3 31.8 1.6 33.4 -5.1 -4.7 -9.8 23.6
2007–08 11.7   6.3 10.7 3.4 32.0  2.3 34.3  -4.3 -2.4 -6.7 27.6
1 Including nominal issuance through switch buyback operations.
Reference Table VII
Fiscal 2007–08 Domestic Bond Program
Offering date Delivery date Maturity date Maturing Gross Bond
repurchase		 Net
      ($ millions)
Fixed-coupon bonds            
April 11, 2007 April 13, 2007 June 1, 2009   500 447 53
April 18, 2007 April 23, 2007 June 1, 2017   2,600 113 2,487
May 2, 2007 May 7, 2007 June 1, 2012   2,000 400 1,600
May 23, 2007 May 25, 2007 December 1, 2009   3,500 500 3,000
  June 1, 2007 * 7,739     -7,739
June 6, 2007 June 11, 2007 June 1, 2037   300 359 -59
July 18, 2007 July 23, 2007 June 1, 2037   1,400 250 1,150
August 1, 2007 August 7, 2007 June 1, 2017   2,600 391 2,209
August 15, 2007 August 20, 2007 June 1, 2012   2,000 400 1,600
  September 4, 2007 * 7,095     -7,095
September 12, 2007 September 17, 2007 June 1, 2017   136 66 70
September 19, 2007 September 21, 2007 December 1, 2009   3,600 500 3,100
  October 1, 2007 * 418     -418
October 3, 2007 October 9, 2007 June 1, 2037   300 346 -46
October 10, 2007 October 12, 2007 December 1, 2009   400 330 70
October 24, 2007 October 29, 2007 June 1, 2018   2,500 363 2,137
November 7, 2007 November 13, 2007 June 1, 2012   224 306 -82
November 28, 2007 November 30, 2007 June 1, 2010   3,300 400 2,900
  December 3, 2007 * 5,484     -5,484
January 9, 2008 January 11, 2008 June 1, 2010   400 405 -5
January 16, 2008 January 21, 2008 June 1, 2037   1,400 300 1,100
February 6, 2008 February 11, 2008 June 1, 2018   2,600 400 2,200
February 20, 2008 February 25, 2008 June 1, 2013   2,000 235 1,765
  March 3, 2008 * 579     -579
March 5, 2008 March 10, 2008 June 1, 2013   64 65 -1
March 19, 2008 March 25, 2008 June 1, 2018   223 111 112
             
Real Return            
May 30, 2007 June 4, 2007 December 1, 2041        
August 29, 2007 September 4, 2007 December 1, 2041   650   650
December 5, 2007 December 10, 2007 December 1, 2041   500   500
February 27, 2008 March 3, 2008 December 1, 2041   600   600
          500 500
Totals for fiscal year     21,314 34,296 6,687 6,295
* Maturing date.
Source: Bank of Canada.
Reference Table VIII
Fiscal 2007–08 Domestic Bond Auction Results
Auction date Term Maturity date Coupon rate Issue amount Average price Average yield Auction coverage  Tail
  (years)   (%) ($ millions) ($) (%)   (basis points)
Apr. 18, 2007 10 Jun 1, 2017 4.00 2,600 98.428 4.192 2.53 0.3
May 2, 2007 5 Jun 1, 2012 3.75 2,000 98.173 4.153 2.49 0.3
May 23, 2007 2 Dec. 1, 2009 4.25 3,500 99.553 4.440 2.53 0.4
May 30, 2007 30 Dec. 1, 2041 2.00* 650 99.752 2.010 2.80  
Jul. 18, 2007 30 Jun 1, 2037 5.00 1,400 108.008 4.509 2.65 0.3
Aug. 1, 2007 10 Jun 1, 2017 4.00 2,600 95.962 4.513 2.46 0.5
Aug. 15, 2007 5 Jun 1, 2012 3.75 2,000 97.295 4.382 2.58 0.4
Aug. 29, 2007 30 Dec. 1, 2041 2.00* 500 95.672 2.180 3.01  
Sep. 19, 2007 2 Dec. 1, 2009 4.25 3,600 100.076 4.211 2.56 0.4
Oct. 24, 2007 10 Jun 1, 2018 4.25 2,500 99.489 4.311 2.48 0.7
Nov. 28, 2007 2 Jun 1, 2010 3.75 3,300 99.839 3.818 2.52 0.6
Dec. 5, 2007 30 Dec. 1, 2041 2.00* 600 98.539 2.060 3.04  
Jan. 16, 2008 30 Jun 1, 2037 5.00 1,400 116.262 4.048 2.38 0.3
Feb. 6, 2008 10 Jun 1, 2018 4.25 2,600 103.053 3.887 2.34 0.2
Feb. 20, 2008 5 Jun 1, 2013 3.50 2,000 99.642 3.576 2.63 0.2
Feb. 27, 2008 30 Dec. 1, 2041 2.00* 500 100.489 1.980 2.83  
Total       31,750        
Note: 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. Does not include nominal issuance resulting from switch buyback operations.
* Real Return bonds.
Source: Bank of Canada.

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Date Modified: 2009-03-04

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