Canada sold $3 billion of 30-year government bonds Thursday at an average yield of 4.201 per cent, the highest yield at a federal long-term bond auction since July 2007, according to Bank of Canada and federal government data. The bonds mature June 1, 2059. (The Logic)

Talking point: Long-term borrowing costs have been rising as investors weigh larger fiscal deficits and renewed inflation risks. The Bank of Canada held its policy rate at 2.25 per cent in early September, but said persistently high energy prices could require a monetary-policy response if they spill more broadly into consumer prices. Higher government bond yields can also feed through to borrowing costs for businesses and households. In the U.S., long-term borrowing costs have also climbed, with the 10-year Treasury yield reaching 5.01 per cent Wednesday as the Federal Reserve raised its benchmark rate to a range between 3.75 and four per cent for the first time in over three years.

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