Actuarial Notes

Selected benchmark bond yields

By Bank of Canada · 2026 · bond_yields_benchmark

The Bank of Canada's daily yields for a set of benchmark Government of Canada bonds, at the 2-, 3-, 5-, 7- and 10-year terms, long-term and the long-term Real Return Bond. In the Bank's description, these yields serve as reference rates for Canadian dollar-denominated fixed income securities and are used to assess market conditions and inform monetary policy decisions. The Bank publishes the series on its Selected bond yields page and through its Valet API as the group bond_yields_benchmark, as CSV, JSON and XML; the copy read here runs daily from 2001-01-02 to 2026-10-29.

Series

  • BD.CDN.2YR.DQ.YLD — Benchmark bond yield, 2-year
  • BD.CDN.3YR.DQ.YLD — Benchmark bond yield, 3-year
  • BD.CDN.5YR.DQ.YLD — Benchmark bond yield, 5-year
  • BD.CDN.7YR.DQ.YLD — Benchmark bond yield, 7-year
  • BD.CDN.10YR.DQ.YLD — Benchmark bond yield, 10-year
  • BD.CDN.LONG.DQ.YLD — Benchmark bond yield, long-term
  • BD.CDN.RRB.DQ.YLD — Real Return Bonds yield, long-term

How the benchmarks are selected

  • The yields are based on mid-market closing yields of selected Government of Canada bond issues that mature approximately in the indicated terms; the issues used are not necessarily the ones whose remaining time to maturity is closest to the indicated term, and may differ from other sources.
  • The selected 2-, 5-, 10- and 30-year issues are generally changed when a building benchmark bond is adopted by financial markets as a benchmark, typically after the last auction for that bond; the 3-year issue is usually updated with the 2-year (and sometimes the 5-year), and the 7-year with the 5- or 10-year.
  • The page lists the current benchmark issues and the dates they took effect: 2 year — 2028.11.01, 3.00% (2026.10.23); 3 year — 2029.09.01, 3.50% (2026.10.23); 5 year — 2031.09.01, 3.00% (2026.09.10); 7 year — 2033.06.01, 2.75% (2026.09.10); 10 year — 2036.06.01, 3.25% (2026.06.23); Long — 2057.12.01, 3.50% (2026.03.06); RRB — 2050.12.01, 0.50% (2020.06.01).
  • Sources named on the page: CanDeal Data and Analytics (CanDeal DNA) and Bank of Canada.

Related series on the same page

  • Marketable bond average yields — Government of Canada marketable bonds, average yield, 1 to 3 year, 3 to 5 year, 5 to 10 year and over 10 years.
  • The page links a lookup of the past ten years of these series, treasury bill yields and benchmark Canada bonds; see Yield Curve and Interest Rate.

Sources