Foreign Investors Sell Off Canadian Securities in June, Led by Selloff in Bonds

By David George-Cosh Features Dow Jones Newswires

Foreigners sold off Canadian securities in June, led by a selloff in government bonds and other debt securities.

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Meanwhile, Canadian investors added more foreign securities for the one-month period, led by equities.

Foreign investors sold a net 923 million Canadian dollars (about $725 million) in Canadian securities in June, Statistics Canada said Wednesday. In the previous month, nonresidents bought a net C$29.4 billion.

Canadians bought a net C$13.2 billion in foreign securities, after acquiring C$4.3 billion for their portfolios in the previous month. The Canadian purchases focused on both U.S. and non-U.S. foreign shares.

Over all, the transactions in June resulted in a net outflow of funds of C$13.2 billion from the Canadian economy.

The monthly international securities transaction report offers a gauge on foreign market sentiment toward the Canadian economy, and Canadian investors' take on global prospects.

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Write to David George-Cosh at david.george-cosh@wsj.com

(END) Dow Jones Newswires

August 16, 2017 09:04 ET (13:04 GMT)