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Bank of Canada buys back C$500 million bonds in repurchase auction
By Marisa Wong
Madison, Wis., May 3 - Bank of Canada said it bought back C$500 million of Government of Canada bonds in a repurchase auction on Tuesday.
The government purchased C$200 million of 1% bonds due Sept. 1, 2011 and C$300 million of 5.25% bonds due June 1, 2012.
The cutoff yield was 1.02% for the 1% bonds and 1.422% for the 5.25% bonds.
After settlement on May 5, there will be C$5,076,689,000 of the 1% bonds and C$9,300,260,000 of the 5.25% bonds.
The bank also offered to repurchase 1.25% bonds due June 1, 2011, 6% bonds due June 1, 2011, 8.5% bonds due June 1, 2011, 3.75% bonds due Sept. 1, 2011, 1.25% bonds due Dec. 1, 2011, 1.5% bonds due March 1, 2012, 1.5% bonds due June 1, 2012 and 3.75% bonds due June 1, 2012. None of these bonds was repurchased.
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