Newfoundland to Return to U.S. Dollar Bond Market, Brewer Says
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Canada’s most easterly province plans to return to the U.S. dollar bond market for the first time in years, seeking to ease pressure on its domestic bond yields as an oil-price crash leads to budget deficits.
“We are providing some of the highest yields in the country,” among provincial borrowers, Newfoundland and Labrador Deputy Minister of Finance Donna Brewer said at a panel during the Bloomberg Canadian Fixed Income Conference in New York on Tuesday. “Hopefully, we can get demand in the U.S., it will help with demand in our market.”