TD Waterhouse alerted me to two new issues of provincial bonds this morning. Both look unattractive to me and both sold out quickly.
Ontario sold a 2.15% ten year issue. Nova Scotia sold a nine year issue at 2.0%. If you want government bonds then buy at the new issue like this and hold until maturity. The hidden commissions (large buy/sell spreads) are too large if you buy from the likes of TD Waterhouse. But I have no interest in tying up money for ten years at about 2%.
I find it ridiculous that Nova Scotia has a higher credit rating than Alberta. Probably higher than Ontario and B.C. as well given the lower rate here.