Canada sells $1.4 billion in long bonds

The Bank of Canada overnight rate is 1.75% so that's just 25 basis points above what you can get overnight. The curve is inverted out to 7 years.

Canada sells $1.4 billion in long bonds

There's also a worrisome 95 basis point gap between US and Canadian 30s, despite the Fed holding a massive amount of supply on its balance sheet.