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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada 3-Year Bond Auction climbed to 3.67% in April 2023
FMPMonthlyReleased May 2023
Canada 3-Year Bond Auction climbed to 3.67% in April 2023, released May 2023, up 0.22% from March's 3.45% reading.
Latest Release
3.666000
Actual
—
Consensus
3.449000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
3-Year Bond Auction (Canada) was reported at 3.67% in May 2023. The reading rose from the previous value of 3.45%.
WHY IT MATTERS
The trailing three releases averaged 3.63%, down from the prior three at 3.7%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include New Housing Price Index MoM (Jun 17) and Retail Sales MoM (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update May 2023.
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3-Year Bond Auction - CA
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About 3-Year Bond Auction — Canada
DEFINITION
The 3-Year Bond Auction is a financial indicator that measures the demand for government-issued bonds with a maturity of three years. This auction is conducted by the government to raise funds and the results provide insight into the current market sentiment and investor confidence in the economy. A successful auction, with high demand and low interest rates, is seen as a positive sign for the economy, while a weak auction may indicate a lack of confidence and potential economic instability. This indicator is closely monitored by investors and analysts as it can impact interest rates and overall market conditions.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2023): actual 3.666 %. Prior reading (Apr 2023): 3.449 %. Before that (Feb 2023): 3.765 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.