In the second quarter of 2024, Canada Housing Trust No. 1 (CHT) played a significant role in Canada's corporate debt market, contributing to the substantial C$35 billion raised during this period. This surge in corporate debt issuance was largely driven by high-yield corporate debt offerings, influenced by the Bank of Canada's elevated interest rates.

CHT, a special-purpose trust established by the Canada Mortgage and Housing Corporation (CMHC), issues Canada Mortgage Bonds (CMBs) to support residential mortgage financing. These bonds are guaranteed by CMHC and carry the full faith and credit of Canada, aligning their credit ratings with those of Government of Canada Bonds.