Canada reported that foreign investors bought a net $10.5 bln of Canadian securities in June. This brings the total net foreign purchases in Q2 to a little more than $38 bln compared with about $23.5 in Q1 and less than $1 bln in Q4 08.
Foreign investors were net sellers of Canadian asset (-$7 bln) in Q3 08. June was the sixth consecutive month of foreign net purchases and Q2 was a record.
International investors bought about $5.52 bln of Canadian bonds and officials note that it was concentrated in the five-year benchmark government bond. About $2.3 bln of Canadian shares were bought and a little more was put into money market paper.
For their part Canadians bought $1.44 bln of foreign securities in June. Some of the Net $4 bln of foreign equity was financed by the sales of $1.9 bln of foreign bonds and $660 mln in money markets.
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