Foreigners pile into Canadian corporate debt in January
OTTAWA (Reuters) - Foreigners resumed their net purchases of Canadian securities in January, making their largest acquisitions of private corporate debt instruments since October 2001, Statistics Canada reported on Monday.
Investment in Canadian securities stood at a four-month high of C$13.34 billion ($13.08 billion), after net sales by foreigners of C$1.92 billion in December.
"Non-resident investment in Canadian debt securities strengthened to C$11.7 billion in January, as the investment focus shifted from government to corporate debt securities," Statscan said.
Foreigners bought C$10.27 billion in private corporate debt, including C$7.23 billion in private corporate bonds; the rest was in money market instruments.
Investors also bought C$2.55 billion in government corporate bonds, while selling C$4.66 billion in federal government money market instruments after two months of sizeable purchases.
Canadians sold a net C$1.18 billion of foreign securities after four months of purchases, unloading bonds while buying some equities.
(Reporting by Randall Palmer and Alex Paterson; Editing by Nick Zieminski)
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