{"series":{"id":"cmb-10y-new-issue-yield","label":"Canada Mortgage Bond 10-year yield at syndication","description":"Yield on fixed-rate 10-year Canada Mortgage Bonds at each syndication where the Government of Canada bought them, published by the Bank of Canada as the government's fiscal agent, dated by trade date.","unit":"percent","frequency":"per_issue","category":"cmb","citation":"Source: Bank of Canada (Valet group CMB_PURCH, Government of Canada purchases of Canada Mortgage Bonds)","derived":false,"formula":null,"first_date":"2024-02-14","latest":{"date":"2026-08-19","value":3.891},"csv_url":"https://data.spheracredit.com/api/v1/series/cmb-10y-new-issue-yield.csv","methodology":{"source":"Bank of Canada, Valet group CMB_PURCH (\"CMB Completed Purchases\"), field CMB_PURCH_YIELD (\"Yield (%)\"), rows where CMB_PURCH_TERM (\"Term (years)\") is 10.","definition":"The yield, in percent, at which the Government of Canada bought fixed-rate 10-year Canada Mortgage Bonds in the primary market at a syndication. The government's purchases began at the February 2024 syndication. Its notices for 2024, 2025 and 2026 say it participates in all fixed-rate CMB syndications, buying \"pursuant to orders placed with the lead underwriters\", and that these orders are \"completely filled\".","calculation":"Published as is by the source. Sphera Credit does not transform the values. Sphera Credit keeps the rows whose term is 10 and dates each value by its trade date (CMB_PURCH_TRADE_DATE).","timing":"One value per syndication at which the government bought 10-year bonds, dated by trade date. The Bank announces purchases after each syndication. There are no values between syndications.","caveats":["A syndication can sell more of a bond first issued at an earlier syndication: the same ISIN, coupon and maturity then appear on more than one trade date. So not every value is for a new bond.","The series starts with the February 2024 syndication, when the government's purchases began. For a daily value between syndications, cmb-10y-estimate gives a Sphera Credit estimate."],"references":[{"title":"Bank of Canada: Canada Mortgage Bonds, Government purchases and holdings","url":"https://www.bankofcanada.ca/markets/canada-mortgage-bonds-government-purchases-and-holdings/"},{"title":"Bank of Canada: Operational details for government purchases of Canada Mortgage Bonds in 2026","url":"https://www.bankofcanada.ca/2026/01/operational-details-government-purchases-canada-mortgage-bonds-2026/"},{"title":"Bank of Canada: Operational details for government purchases of Canada Mortgage Bonds (2024)","url":"https://www.bankofcanada.ca/2024/01/operational-details-government-purchases-canada-mortgage-bonds/"},{"title":"Bank of Canada Valet group CMB_PURCH","url":"https://www.bankofcanada.ca/valet/groups/CMB_PURCH/json"}]}},"observations":[["2024-02-14",3.997],["2024-05-16",3.957],["2024-08-15",3.521],["2024-11-14",3.653],["2025-02-13",3.477],["2025-05-14",3.632],["2025-08-14",3.711],["2025-11-19",3.546],["2026-02-12",3.536],["2026-05-14",3.826],["2026-08-19",3.891]]}