Statistics Canada says non-residents reduced their holdings of Canadian securities in June in the biggest decline of the past 3 1 /2 years, following two straight months of acquisitions.
Foreigners reduced holdings of Canadian bonds by $7.8 billion in June, the largest divestment since December 2008. The divestment was the result of a $17.5 billion retirement of maturing instruments, mostly Canadian dollar denominated bonds from the federal government and its enterprises. But that was offset by nonresident investors purchasing $0.8 billion of Canadian money marketinstruments in June.
