CANADA FX DEBT-C$ gives back most of its gains as equities fade

* Canadian dollar at C$1.2072 or 82.84 U.S. cents
    * Bond prices mixed across the maturity curve

 (Adds closing data)
    By Andrea Hopkins
    TORONTO, May 5 (Reuters) - The Canadian dollar gave back
most of its gains against the U.S. greenback on Tuesday as
investor uncertainty pushed equities lower and offset early data
that showed a jump in Canadian and U.S. trade deficits.
    Long-term U.S. Treasury yields rose to their highest of the
year as investors reassessed the chances of a September interest
rate hike by the U.S. Federal Reserve, while global stock prices
fell on uneasiness about U.S. and Asian growth. The standoff
between Greece and its creditors also curbed appetite for
    A record Canadian trade deficit of C$3.02 billion ($2.50
billion) in March boosted the loonie early in the session.
    But the strength quickly faded and it was only the weakness
of the greenback that kept the Canadian dollar in stronger
territory as it lost ground against other major currencies.
    "As we close out the day, the Canadian dollar is actually
the worst-performing G10 currency other than the U.S. dollar,"
said Jack Spitz, managing director of foreign exchange at
National Bank Financial.
    "It has given back much of the gains it had seen earlier in
the session on a combination of strong corporate demand to buy
U.S. dollars," Spitz said.
    The Canadian dollar ended the North American
session at C$1.2072 to the greenback, or 82.84 U.S. cents, just
slightly stronger than the Bank of Canada's official Monday
close of C$1.2092, or 82.70 U.S. cents.
    Investors were braced for election results in the western
Canadian province of Alberta later on Tuesday. 
    Opinion polls show the long-ruling Progressive Conservatives
are likely to be toppled from office for the first time in 44
years. While polls have proven unreliable in recent Canadian
provincial elections, they show the left-wing New Democrats in
position to win a majority government, while the right-wing Wild
Rose Party is running a strong second. 
    Analysts have said a New Democrat majority win could have a
negative effect at least temporarily on the Canadian dollar and
on energy shares. The left-leaning party is expected to be far
less accommodating to Alberta's powerful energy industry, having
proposed reduced support for pipeline export projects and a
review of oil and gas royalties in the resource-rich province.
    Canadian government bond prices were mixed across the
maturity curve. The two-year price was up 4.5
Canadian cents to yield 0.690 percent, while the benchmark
10-year fell 17 Canadian cents to yield 1.734

 (Additional reporting by Solarina Ho; Editing by Jonathan