Canada's Two-Year Government Bond Auction Draws 2.7 Times The Amount Offered, Yield Averages 3.31%

12:24 PM EDT, 10/22/2026 (MT Newswires) -- Investors submitted CA$14.98 billion in bids for Canada's two-year government bonds (GoC), well above the CA$5.5 billion offered, with demand nearly three times the amount available, according to the Bank of Canada's website on Thursday. The auction recorded a bid-to-cover ratio of 2.72. The average yield was 3.31%, according to the BoC. Canadian accounts received 67.2% of the allocations, while international accounts took 32.8%. Distributors received 59.9% of allocations, while customers accounted for 40.1%. Canada's central bank didn't buy any of the GoC bonds, which expire on Nov. 1, 2028.