What Explains the Recent Increase in Canadian Corporate Bond Spreads Staff Analytical Note 2017-2 Maxime Leboeuf, James Pinnington The spread between the yield of a corporate bond and the yield of a similar Government of Canada bond reflects compensation for possible default by the issuing firm and compensation for additional risks beyond default. Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets JEL Code(s): G, G1, G12