On a net basis security flows were flat in November, with $16.3B of foreign investment and $16.5B of Canadian investment abroad…

… carried by $9B of buying in mostly European equities, the largest non-U.S. print since April of 2022.

Canadian equities didn’t have the same demand, losing roughly $8B during the month - driven by secondary market transactions in the resource sector. The selling reversed course from October’s $13B inflow…

… while demand for Canadian paper remains strong, led by nearly $20B in purchases of private-sector issues.