Statistics Canada says Canadian investment in foreign securities strengthened to $7.8 billion in November, nearly all in U.S. instruments.
The data agency said Canadians bought $6.2 billion worth of foreign debt during the month, the highest level seen since March of 2007. A record $5.7 billion purchase of U.S. government bonds made up most of that.
Canadians also bought up $1.6 billion worth of foreign stocks. Again, almost all of that was U.S. stocks. American stocks gained an average of 0.3 per cent in November, rebounding from a two per cent loss in October.
On the flip side, foreign appetite for Canadian securities dried up. Foreign investors bought $5.6 billion worth of Canadian stocks and bonds in November, the lowest level seen since July.
Foreign investment in Canadian stocks specifically slowed for the second consecutive month, to $38 million in November. Canadian share prices declined for the first time since May that month.