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September Canadian International Transactionsi in Securities Beat Estimates

Posted:19/11/2008 14:06 by Heddy Sorour
Inflows: -C$0.267bln Outflows:-C$0.665bln Foreign investors in Canadian Securities reduced their holding by C$0.267bln from a revised retreat of C$0.833bln (previously reported -C$0.730bln) beating the consensus estimate for a C$1.35bln retreat. This is the third consecutive decline and was led by foreign divestment of Canadian bonds on secondary markets. The sell-off, the first in 2008 was partially offset by an increase in holdings of money market paper (up C$1.028bln) and Canadian Equities (up C$2.49bln) in spite of the largest monthly decline in stock prices. The bulk of the equity investment was concentrated on banking and financial shares as investors fled energy, mining and tech stocks. Following a similar pattern Canadian investors also divested their holding in Foreign securities by C$0.665bln following a revised increase of C$0.217bln prior (previously reported C$0.172bln). The retreat was the result of a reduction in foreign bond holdings, down C$2.8bln, which exceeded the investment in foreign money market instruments up C$0.552mln and equitie. click here to return to the top of the page
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