On a net basis security flows were down big in February, with $6B of foreign investment and $25B of Canadian investment abroad…

… nearly all of which ended up in the US, with a record $33M of demand for equities (mostly big tech)…

… carrying another big outflow from US paper, government bonds in particular - which lost another $13B during the month.

Here at home, foreign demand for equities flipped negative after two previous inflows - with resources names leading the $9B outflow…

… while the appetite for Canadian paper remains healthy, with the $23B inflow spread evenly across public and private issuers.

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