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Archived - Government of Canada Securities - October 2007
- Government of Canada Securities 2007 -
PDF Version - [582 KB]
- Canadian Economy | Primary Market | Secondary Market -
Canadian Economy
Selected Canadian economic statistics
| 2006 |
2007 |
|||||
|---|---|---|---|---|---|---|
| Q1 |
Q2 |
Q3 |
Q4 |
Q1 |
Q2 |
|
Annualized growth rates |
(per cent) |
|||||
Real gross domestic product |
3.8 |
2.0 |
1.3 |
1.5 |
3.9 |
3.4 |
Final domestic demand |
5.6 |
3.7 |
4.0 |
3.7 |
2.8 |
4.3 |
Employment growth |
1.6 |
2.9 |
0.6 |
2.4 |
3.9 |
1.3 |
Other |
||||||
Unemployment rate |
6.4 |
6.2 |
6.4 |
6.2 |
6.1 |
6.0 |
Current account balance |
||||||
(percentage of GDP) |
2.9 |
1.4 |
1.6 |
1.3 |
1.6 |
2.2 |
Source: Statistics Canada. |
||||||
Upcoming economic data releases of interest
| October |
November |
December |
|---|---|---|
September CPI |
October Labour Force Survey |
November Labour Force Survey |
August GDP |
October CPI |
November CPI |
September GDP |
October GDP |
|
National and Economic Accounts |
||
Primary Market
Recent Government of Canada bond auction results
| Auction date |
Term |
Maturity date |
Coupon rate |
Issue amount |
Average price |
Average yield |
Auction coverage* |
Tail** |
|---|---|---|---|---|---|---|---|---|
(years) |
(%) |
(millions of dollars) |
(%) |
(basis points) |
||||
July 18, 2007 |
30 |
June 1, 2037 |
5 |
1,400 |
108.01 |
4.51 |
2.55 |
0.3 |
August 1, 2007 |
10 |
June 1, 2017 |
4 |
2,600 |
95.96 |
4.51 |
2.36 |
0.5 |
August 15, 2007 |
5 |
June 1, 2012 |
3.75 |
2,000 |
97.30 |
4.38 |
2.43 |
0.4 |
September 19, 2007 |
2 |
December 1, 2009 |
4.25 |
3,600 |
100.10 |
4.21 |
2.46 |
0.4 |
* Coverage is defined as the ratio of total bids at auction to the amount auctioned. |
||||||||
Government of Canada bond auctions
| Type of issue |
Auction |
Further |
Dated and |
Amount |
|---|---|---|---|---|
(millions of dollars) |
||||
10-year |
October 24 |
October 18 |
October 29 |
0 |
2-year |
November 28 |
November 22 |
November 30 |
0 |
Real Return Bond |
December 5 |
November 29 |
December 10 |
0 |
In addition, this quarter five operations are planned under the Government of Canada bond repurchase program. Two repurchase operations are being held in conjunction with each nominal bond auction, and three switch repurchase operations are taking place on October 3 in the 30-year sector, October 10 in the 2-year sector and November 7 in the 5-year sector. Further details are released on the Thursday prior to these operations. The target amount for the repurchase this quarter is $1.7 billion. |
||||
Government of Canada bond market benchmarks
| Term |
Maturity |
Coupon |
Amount outstanding |
Yield (Sept. 28, 2007) |
|---|---|---|---|---|
(%) |
(millions of dollars) |
(%) |
||
Fixed-coupon |
||||
2-year |
December 1, 2010 |
4.25 |
7,100 |
4.08 |
5-year |
June 1, 2012 |
3.75 |
6,600 |
4.20 |
10-year |
June 1, 2017 |
4.00 |
10,300 |
4.34 |
30-year |
June 1, 2037 |
5.00 |
11,549 |
4.44 |
Real return |
||||
30-year |
December 1, 2036 |
3 |
5,850 |
2.08 |
Source: Department of Finance. |
||||
Upcoming Government of Canada marketable bond maturities
| October-December |
January-March |
April-June |
July-September |
|---|---|---|---|
(millions of dollars) |
|||
6,794 |
578 |
10,296 |
10,130 |
Outstanding Government of Canada foreign currency debt
(C$ millions)* |
|
Canada bills |
2,034 |
Canada notes |
437 |
Outstanding under EMTN program |
1,508 |
65⁄8% NZ$ bonds maturing October 3, 2007 |
380 |
47⁄8% EUR bonds maturing July 7, 2008** |
2,934 |
51⁄4% US$ bonds maturing November 5, 2008 |
2,514 |
* At par value, adjusted for exchange rates as of September 28, 2007. |
|
Secondary Market
- 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.
- Desjardins Securities
- Deutsche Bank Securities Limited
- Dundee Securities Corporation
- Gateway Securities Inc.
- HSBC Bank Canada (treasury bills only)
- HSBC Securities (Canada) Inc. (marketable bonds only)
- 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.
- Scotia Capital Inc.
- The Toronto-Dominion Bank
Government of Canada long-term credit ratings
|
|
|||
| Standard & Poor's |
Moody's Investors Service |
Dominion Bond Rating Service |
|
|---|---|---|---|
Current |
Current |
Current |
|
|
Domestic debt - Trend |
AAA |
Aaa |
AAA |
|
Foreign debt - Trend |
AAA |
Aaa |
AAA |
Except as noted, the information in Government of Canada Securities is based upon data available as of October 1, 2007.
For further information, contact Ian Blachford at 613-992-6386.
For additional copies or subscription inquiries, please contact the Distribution Centre at 613-995-2855.
