Archived - Debt Management Report 2008-2009

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Reference Table V
Fiscal 2008–09 Treasury Bill Auction Results
Auction date Term Issue amount Average price Average yield Bid coverage Tail
  (months) ($ millions) ($) (%)   (basis points)
Apr. 1, 2008 12 1,800 97.521 2.651 2.112 2.9
Apr. 1, 2008 3 4,400 99.472 1.977 2.023 2.2
Apr. 1, 2008 6 1,800 98.895 2.427 2.166 1.3
Apr. 7, 2008 CMB1 2,000 99.837 2.490 1.730 6.0
Apr. 10, 2008 NF2 2,000 99.809 3.169 2.418 8.1
Apr. 15, 2008 12 2,200 97.316 2.766 2.298 1.2
Apr. 15, 2008 3 5,600 99.335 2.493 1.973 1.9
Apr. 15, 2008 6 2,200 98.723 2.594 1.963 2.6
Apr. 16, 2008 NF 3,000 99.824 3.389 3.076 1.1
Apr. 18, 2008 NF 1,800 99.874 3.279 4.309 4.1
Apr. 28, 2008 NF 3,200 99.932 3.117 1.398 8.2
Apr. 29, 2008 12 2,700 97.376 2.810 2.154 1.9
Apr. 29, 2008 3 7,100 99.280 2.702 1.927 3.3
Apr. 29, 2008 6 2,700 98.764 2.720 2.289 1.4
May 13, 2008 12 2,700 97.354 2.725 2.223 1.0
May 13, 2008 3 7,100 99.278 2.708 2.177 1.0
May 13, 2008 6 2,700 98.677 2.689 1.912 1.6
May 21, 2008 CMB 3,000 99.839 2.677 2.110 3.3
May 27, 2008 12 2,800 97.323 2.868 2.096 3.1
May 27, 2008 3 7,400 99.273 2.727 2.318 1.0
May 27, 2008 6 2,800 98.750 2.751 2.011 1.9
May 28, 2008 NF 2,800 99.943 2.994 2.445 1.8
June 10, 2008 12 2,500 96.815 3.299 1.897 2.6
June 10, 2008 3 6,500 99.247 2.827 2.047 1.6
June 10, 2008 6 2,500 98.483 3.089 2.167 2.1
June 20, 2008 NF 2,500 99.909 2.783 3.224 3.7
June 25, 2008 12 2,100 96.975 3.253 2.299 1.2
June 25, 2008 3 5,300 99.283 2.691 2.308 0.6
June 25, 2008 6 2,100 98.634 3.010 2.184 1.8
June 26, 2008 NF 2,500 99.942 2.659 2.708 2.1
June 30, 2008 NF 1,000 99.971 2.682 2.993 16.8
July 8, 2008 12 1,800 96.968 3.135 2.485 0.9
July 8, 2008 3 4,400 99.351 2.432 2.373 0.6
July 8, 2008 6 1,800 98.564 2.921 2.544 0.5
July 17, 2008 NF 2,300 99.896 2.707 2.354 13.3
July 22, 2008 12 2,400 97.135 3.076 2.120 0.8
July 22, 2008 3 6,200 99.355 2.417 2.073 1.4
July 22, 2008 6 2,400 98.710 2.839 2.294 1.1
July 23, 2008 CMB 2,000 99.890 2.678 1.815 3.2
July 28, 2008 NF 2,100 99.948 2.697 1.904 24.3
Aug. 5, 2008 12 2,600 97.230 2.857 1.953 1.3
Aug. 5, 2008 3 6,800 99.341 2.471 1.848 1.9
Aug. 5, 2008 6 2,600 98.654 2.737 1.890 1.3
Aug. 19, 2008 12 2,100 97.505 2.669 2.113 1.0
Aug. 19, 2008 3 5,300 99.328 2.518 2.386 0.7
Aug. 19, 2008 6 2,100 98.788 2.665 2.010 1.8
Aug. 20, 2008 CMB 2,000 99.903 2.354 1.988 3.4
Aug. 25, 2008 NF 2,000 99.913 2.873 2.053 6.7
Aug. 28, 2008 NF 1,300 99.899 2.846 4.515 3.4
Sept. 2, 2008 12 2,000 97.415 2.661 2.300 0.9
Sept. 2, 2008 3 5,000 99.358 2.408 2.143 1.1
Sept. 2, 2008 6 2,000 98.691 2.661 2.233 0.9
Sept. 16, 2008 12 2,000 97.745 2.406 2.268 2.4
Sept. 16, 2008 3 5,000 99.429 2.161 2.612 1.3
Sept. 16, 2008 6 2,000 98.927 2.356 2.440 2.8
Sept. 18, 2008 CMB 3,000 99.948 1.359 1.694 10.1
Sept. 19, 2008 CMB 2,000 99.835 2.236 1.883 5.4
Sept. 22, 2008 CMB 2,000 99.928 2.620 1.969 4.7
Sept. 25, 2008 CMB 2,000 99.955 2.329 2.019 2.1
Sept. 26, 2008 NF 2,800 99.935 2.359 2.361 14.1
Sept. 30, 2008 12 2,400 97.420 2.656 1.742 2.4
Sept. 30, 2008 3 6,200 99.499 1.877 1.911 4.3
Sept. 30, 2008 6 2,400 98.839 2.356 1.610 4.0
Oct. 14, 2008 12 3,000 98.062 2.061 1.770 2.9
Oct. 14, 2008 3 8,000 99.561 1.644 1.660 5.4
Oct. 14, 2008 6 3,000 99.088 2.000 1.855 4.0
Oct. 15, 2008 CMB 4,000 99.644 2.287 1.822 3.3
Oct. 17, 2008 CMB 4,000 99.795 1.833 2.139 4.7
Oct. 20, 2008 CMB 4,000 99.865 2.053 2.413 2.9
Oct. 22, 2008 CMB 4,000 99.616 2.232 2.089 1.8
Oct. 23, 2008 CMB 4,000 99.530 2.237 2.160 1.8
Oct. 28, 2008 12 3,200 97.811 2.244 1.862 3.6
Oct. 28, 2008 3 8,600 99.409 2.215 1.887 3.2
Oct. 28, 2008 6 3,200 98.908 2.214 2.174 1.1
Nov. 12, 2008 12 3,200 98.218 1.892 2.097 2.8
Nov. 12, 2008 3 8,600 99.489 1.914 1.817 3.5
Nov. 12, 2008 6 3,200 99.135 1.895 1.808 1.5
Nov. 13, 2008 CMB 4,000 99.626 1.958 1.917 3.1
Nov. 19, 2008 CMB 4,000 99.565 2.045 2.724 1.5
Nov. 20, 2008 CMB 3,500 99.889 1.928 1.879 4.3
Nov. 24, 2008 NF 2,500 99.864 2.072 1.977 4.8
Nov. 25, 2008 12 3,400 98.327 1.706 2.005 2.4
Nov. 25, 2008 3 9,200 99.510 1.835 1.885 1.5
Nov. 25, 2008 6 3,400 99.152 1.716 1.853 1.9
Nov. 28, 2008 CMB 3,000 99.605 1.746 2.481 1.1
Dec. 9, 2008 12 3,600 98.738 1.333 1.861 2.7
Dec. 9, 2008 3 9,800 99.651 1.303 1.886 1.5
Dec. 9, 2008 6 3,600 99.400 1.311 2.112 0.9
Dec. 18, 2008 CMB 4,000 99.953 0.859 1.849 6.9
Dec. 23, 2008 12 3,600 99.031 0.978 1.768 3.9
Dec. 23, 2008 3 9,800 99.744 0.945 1.751 3.2
Dec. 23, 2008 6 3,600 99.513 0.977 1.821 2.2
Jan. 6, 2009 12 3,800 99.079 0.969 1.745 4.1
Jan. 6, 2009 3 10,400 99.748 0.942 1.766 1.5
Jan. 6, 2009 6 3,800 99.573 0.932 1.927 1.8
Jan. 20, 2009 12 3,800 99.054 0.958 1.842 2.2
Jan. 20, 2009 3 10,400 99.752 0.927 1.876 1.3
Jan. 20, 2009 6 3,800 99.548 0.910 2.275 1.0
Jan. 21, 2009 CMB 4,000 99.826 0.897 1.989 1.2
Jan. 28, 2009 CMB 4,000 99.822 0.844 2.083 1.5
Feb. 3, 2009 12 3,800 99.019 1.033 2.080 1.5
Feb. 3, 2009 3 10,400 99.758 0.902 1.811 1.3
Feb. 3, 2009 6 3,800 99.580 0.916 2.394 1.2
Feb. 17, 2009 12 3,600 99.126 0.884 2.322 1.5
Feb. 17, 2009 3 9,800 99.785 0.801 2.271 0.6
Feb. 17, 2009 6 3,600 99.594 0.817 2.112 0.6
Mar. 3, 2009 12 3,400 99.303 0.732 2.125 0.6
Mar. 3, 2009 3 9,200 99.858 0.531 1.963 0.6
Mar. 3, 2009 6 3,400 99.713 0.625 2.328 0.3
Mar. 17, 2009 12 3,200 99.331 0.675 2.142 0.5
Mar. 17, 2009 3 8,600 99.877 0.458 2.206 0.5
Mar. 17, 2009 6 3,200 99.720 0.564 2.785 0.4
Mar. 31, 2009 12 3,400 99.404 0.625 2.263 1.0
Mar. 31, 2009 3 9,200 99.888 0.416 2.087 0.4
Mar. 31, 2009 6 3,400 99.765 0.511 2.561 0.8
Total   454,800        
Notes: 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.
1 Cash management bill.
2 Non-fungible cash management bill.
Source: Bank of Canada.

 

Reference Table VI
Issuance of Government of Canada Domestic Bonds
  Gross issuance Buybacks  
   
 

 
  Nominal1 RRB Total Cash Switch Total Net issuance
     
 

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
2008–09 23.2   29.0 15.7 5.1 72.9 2.1 75.0 -3.2 -2.7 -6.0 69.0
1 Including nominal issuance through switch buyback operations.

 

Reference Table VII
Fiscal 2008–09 Domestic Bond Program
Offering date Delivery date Maturity date Maturing Gross Bond repurchase Net
        ($ millions)
Fixed-coupon bonds            
April 16, 2008 April 21, 2008 June 1, 2018   2,500 283 2,217
May 7, 2008 May 12, 2008 June 1, 2013   2,000 300 1,700
May 21, 2008 May 23, 2008 December 1, 2010   3,500 400 3,100
  June 2, 2008 * 7,815     -7,815
June 4, 2008 June 9, 2008 June 1, 2041   1,400 300 1,100
June 18, 2008 June 23, 2008 June 1, 2018   300 181 119
July 9, 2008 July 14, 2008 June 1, 2018   2,500 300 2,200
July 30, 2008 August 5, 2008 June 1, 2013   2,000 35 1,965
August 20, 2008 August 22, 2008 December 1, 2010   3,600 400 3,200
  September 2, 2008 * 6,863     -6,863
September 10, 2008 September 15, 2008 June 1, 2041   300 323 -23
September 17, 2008 September 19, 2008 December 1, 2010   400 536 -136
  October 1, 2008 * 396     -396
October 1, 2008 October 6, 2008 June 1, 2019   2,500 400 2,100
October 16, 2008 October 21, 2008 June 1, 2014   3,000   3,000
October 23, 2008 October 28, 2008 June 1, 2013   4,500   4,500
November 5, 2008 November 10, 2008 June 1, 2019   300 156 144
November 12, 2008 November 17, 2008 June 1, 2013   4,500   4,500
November 19, 2008 November 21, 2008 December 1, 2010   4,500 324 4,176
  December 1, 2008 * 4,000     -4,000
December 10, 2008 December 15, 2008 June 1, 2041   1,300 500 800
December 17, 2008 December 19, 2008 December 1, 2010   184 133 51
January 7, 2009 January 12, 2009 June 1, 2037   750 968 -218
January 14, 2009 January 19, 2009 June 1, 2014   5,000   5,000
January 23, 2009 January 27, 2009 June 1, 2011   4,500   4,500
February 4, 2009 February 9, 2009 June 1, 2019   3,300   3,300
February 9, 2009 February 12, 2009 June 1, 2014   5,500   5,500
February 20, 2009 February 24, 2009 June 1, 2011   4,000   4,000
February 25, 2009 March 2, 2009 June 1, 2019   3,500   3,500
  March 2, 2009 * 140     -140
March 5, 2009 March 10, 2009 June 1, 2019   750 416 334
March 11, 2009 March 16, 2009 June 1, 2014   2,500   2,500
March 18, 2009 March 23, 2009 June 1, 2041   1,300   1,300
March 24, 2009 March 26, 2009 June 1, 2011   2,500   2,500
Real Return Bonds            
May 28, 2008 June 2, 2008 December 1, 2041   600   600
August 27, 2008 September 2, 2008 December 1, 2041   500   500
December 3, 2008 December 8, 2008 December 1, 2041   600   600
March 4, 2009 March 9, 2009 December 1, 2041   400   400
Total     19,213 74,984 5,955 49,816
* Maturing date.
Source: Bank of Canada.

 

Reference Table VIII
Fiscal 2008–09 Domestic Bond Auction Results
Auction date Term Maturity date Coupon rate Issue amount Average price Average yield Auction Tail
  (years)   (%) ($ millions) ($) (%)   (basis points)
Apr. 16, 2008 10 June 1, 2018 4.25 2,500 104.087 3.760 2.47 0.4
May 7, 2008 5 June 1, 2013 3.50 2,000 100.952 3.294 2.78 0.4
May 21, 2008 2 Dec. 1, 2010 2.75 3,500 99.409 2.995 2.54 0.7
May 28, 2008 30 Dec. 1, 2041 2.00* 600 110.671 1.588 3.03  
June 4, 2008 30 June 1, 2041 4.00 1,400 98.130 4.104 2.48 0.4
July 9, 2008 10 June 1, 2018 4.25 2,500 103.901 3.773 2.41 0.5
July 30, 2008 5 June 1, 2013 3.50 2,000 100.544 3.376 2.65 0.3
Aug. 20, 2008 2 Dec. 1, 2010 2.75 3,600 99.866 2.810 2.48 0.3
Aug. 27, 2008 30 Dec. 1, 2041 2.00* 500 112.770 1.510 2.79  
Oct. 1, 2008 10 June 1, 2019 3.75 2,500 99.508 3.807 2.18 2.1
Oct. 16, 2008 5 June 1, 2014 3.00 3,000 98.800 3.236 2.18 1.3
Oct. 23, 2008 5 June 1, 2013 3.50 4,500 103.139 2.767 2.13 1.6
Nov. 12, 2008 5 June 1, 2013 3.50 4,500 103.382 2.703 2.07 1.2
Nov. 19, 2008 2 Dec. 1, 2010 2.75 4,500 101.576 1.953 1.97 1.2
Dec. 3, 2008 30 Dec. 1, 2041 2.00* 600 83.421 2.770 2.44  
Dec. 10, 2008 30 June 1, 2041 4.00 1,300 104.843 3.741 2.59 0.6
Jan. 14, 2009 5 June 1, 2014 3.00 5,000 106.342 1.756 2.15 0.7
Jan. 23, 2009 2 June 1, 2011 1.25 4,500 99.697 1.382 2.26 0.7
Feb. 4, 2009 10 June 1, 2019 3.75 3,300 103.494 3.346 2.08 2.2
Feb. 9, 2009 5 June 1, 2014 3.00 5,500 104.280 2.141 1.95 2.1
Feb. 20, 2009 2 June 1, 2011 1.25 4,000 99.731 1.371 2.13 0.7
Feb. 25, 2009 10 June 1, 2019 3.75 3,500 105.209 3.151 2.19 1.3
Mar. 4, 2009 30 Dec. 1, 2041 2.00* 400 94.230 2.250 2.35  
Mar. 11, 2009 5 June 1, 2014 3.00 2,500 105.289 1.928 2.28 0.6
Mar. 18, 2009 30 June 1, 2041 4.00 1,300 106.967 3.631 2.51 1.4
Mar. 24, 2009 2 June 1, 2011 1.25 2,500 100.187 1.163 2.07 0.6
Total       72,000        
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.