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National Bank Notes Canada 10-Year Sovreign Bonds Underperform U.S. Treasuries

BY MT Newswires | TREASURY | 08:05 AM EDT

08:05 AM EDT, 03/12/2026 (MT Newswires) -- Government of Canada (GoC) 10-year bonds have given up about 8 bps of performance to their United States Treasury counterpart since late February, as the spread now trades about its 20- and 50-day moving averages, said National Bank of Canada.

At around 73 bps inverted, GoC-UST 10s have found resistance near this level, most recently in December / January, where 72bps-70bps proved "particularly sticky," noted the bank.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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