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New
Monthly Money Trail: International Fund Flows
International investors continued to get their risk on in July, dumping a whack of GoC bonds and loading up on corporates. In fact, foreign portfolio managers doubled up the bleeding on Canada bonds in July versus June, divesting of nearly $11 billion in GoC product as part of the general extension into risk that took place in the global markets during that month. We expect the reversal of fortune for risk appetite during August likely encouraged some international cash back into GoC bonds, but we will have to wait another month to see the final results. Year to date, the damage suffered in July sunk international purchases of Canadas into negative territory, with net divestitures of almost $8 billion through the first seven months of 2019. Nonetheless, that dreary result is still better than the net selling of nearly $28 billion which occurred over the same period in 2018 due to the decent amount of buying from earlier in 2019.
Jason was appointed Head of North American Credit Research, BMO Capital Markets in 2018, in addition to his role as Corporate Debt Research analyst and strat...
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International investors continued to get their risk on in July, dumping a whack of GoC bonds and loading up on corporates. In fact, foreign portfolio managers doubled up the bleeding on Canada bonds in July versus June, divesting of nearly $11 billion in GoC product as part of the general extension into risk that took place in the global markets during that month. We expect the reversal of fortune for risk appetite during August likely encouraged some international cash back into GoC bonds, but we will have to wait another month to see the final results. Year to date, the damage suffered in July sunk international purchases of Canadas into negative territory, with net divestitures of almost $8 billion through the first seven months of 2019. Nonetheless, that dreary result is still better than the net selling of nearly $28 billion which occurred over the same period in 2018 due to the decent amount of buying from earlier in 2019.
Jason was appointed Head of North American Credit Research, BMO Capital Markets in 2018, in addition to his role as Corporate Debt Research analyst and strat...
VIEW FULL PROFILE
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