On a net basis security flows were up huge in April, with $47B of foreign investment and $11B of Canadian divestment abroad…

… driven mainly by $6B of selling in non-US foreign bonds and $3B in US treasuries, which have seen nearly $21B of outflows YTD.

Equity outflows contributed to a lesser degree, with $3B of profit taking split evenly between US and other international markets…

… while foreign demand for Canadian equities rebounded in April, with $6B of buying concentrated mainly in the resources sector.

As has been the case all year, foreign appetite for Canadian paper drove the print - with nearly $40B of buying and a record $28B tied to GoC bonds.

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