Saturday, March 22, 2008

Foreigners buying bonds

OTTAWA–Foreign investors acquired a net $916 million of Canadian securities in January as they loaded up on bonds but sold stocks and money market paper, Statistics Canada said yesterday.

That's less than the previous month's figure, which was revised up slightly to $1.29 billion from a preliminary $1.24 billion.

Non-Canadians acquired a net $6.38 billion in bonds, the most in 10 months, primarily federal government enterprise and private corporate debt. United States investors accounted for half the purchases as the interest rate differential between the two countries favoured investment in Canada.

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