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Record Foreign Sales Boost Returns For Canadian Provincial Bonds

  • Foreign bond sales from provinces exceeded 2016 total already
  • Domestic issuance is at a six-year low, boosting bond returns
Bloomberg business news

Canada's Provinces Issuing Foreign Debt at Record Pace

Updated on

Canadian provinces are selling an unprecedented amount of bonds overseas, easing pressure on the domestic market and offering investors the highest annual return since 2014.

Ontario, Quebec and their peers have issued $16.4 billion of foreign currency debt this year, exceeding last year’s total, Bloomberg data show. The provinces are set to overtake the all-time high of $23.2 billion marketed abroad in 2009, according to National Bank of Canada.