Tomorrow's 2-Year Supply, a C$3.3B Auction Of 1.0% Nov 14s

Tomorrow's 2-year supply, a C$3.3B auction of 1.0% Nov 14s, completes the Bank of Canada's auction schedule for 2Q, and, with that, a new schedule will be unveiled as early as Friday, RBC Capital Markets says. The key question is whether or not we see a 30-year bond auction in the coming 3Q, it says. The government had only planned on three 30-year auctions for whole fiscal year, but low rates could prompt another, RBC says. "If we are correct in our assertion that Q3 will see another 30yr, it still might mean we don't get one in Q4," firm says.