Home Wealth Management International buyers pulled again from Canada in September

International buyers pulled again from Canada in September

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International buyers pulled again from Canada in September

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That discount in overseas holdings got here as Canadian long-term rates of interest reached their highest ranges since December 2007.

“Non-resident buyers acquired $1.6 billion of Canadian shares in September 2023, after 9 consecutive months of divestment,” Statistics Canada reported. “Investments in shares of the manufacturing in addition to the commerce and transportation industries have been moderated by a divestment in shares of the banking sector.”

For his or her half, Canadian buyers acquired $11.6 billion of overseas securities, pushed overwhelmingly by a complete funding of $10.5 billion in overseas bonds. Non-US overseas bonds by Canadians noticed the best degree of funding within the yr, amounting to $6.7 billion and primarily targeted on authorities bonds.

Canadian buyers snapped up $3.8 billion in US bonds in September, virtually matching their $3.7 billion funding in US bonds the earlier month. That coincided with US long-term rates of interest reaching their highest degree since October 2007 – a timeframe of almost 16 years.

Canadian acquisition of overseas shares slowed to $1.7 billion within the month. Even with that, Canadian buyers ended the third quarter with $20.3 billion invested in overseas shares, the most important quarterly funding since This fall of 2021.

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