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--Foreign Investment In Canadian Securities +C$20.8B in October
--Canadian Investment In Foreign Securities +C$16.5B in October
By Yali N'Diaye
     OTTAWA (MNI) - Foreign investment in Canadian securities increased 
C$20.8 billion in October, led by record purchases of bonds, Statistics 
Canada reported Monday. 
     Foreign investors boosted exposure to Canadian bonds by a record 
C$27.9 billion, led by new issues of private sector corporate bonds 
denominated in foreign currencies (C$17.7 billion, with more than half 
issued by Canadian banks). 
     As a result, foreign investment in Canadian private corporate bonds 
rose by C$18.6 billion on the month, the largest investment since March 
2015. 
     Overall, foreign investment in Canadian corporate bonds increased 
by a record C$20.3 billion. 
     Foreign investors also increased exposure to government bonds by 
C$7.7 billion, with investment in federal government bonds up C$6.0 
billion and investment in other governments up C$1.7 billion. 
     Meanwhile, foreign investors cut exposure to Canadian money market 
instruments by C$8.8 billion, the largest such divestment on record. 
     During the month, long-term Canadian interest rates fell nine basis 
points and short-term rates were down seven basis points, while their 
U.S. counterparts rose 16 basis points and four basis points, 
respectively. The loonie depreciated by 2.6 U.S. cents agasint the 
greenback. 
     Foreign investors continued to invest in Canadian shares, with a 
C$1.6 billion increase, following a C$3.5 billion rise the previous 
month. 
     Over the month, Canadian stock prices rose 2.5% and U.S. stock 
prices were up 2.2%. 
     Canadian investors, for their part, favored U.S. stocks over bonds 
in October, with investment in U.S. shares reaching C$12.0 billion. 
Total investment in foreign equity and investment fund shares was up 
C$14.2 billion. 
     Canadian investors purchased C$2.6 billion foreign bonds, with a 
focus on U.S. corporates (C$1.8 billion). 
--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 
[TOPICS: MACDS$,M$C$$$]

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