Meanwhile, Canadian investors reduced their holdings of foreign securities by $4.1 billion as they sold US shares. The divestment in foreign securities was the largest in a year and followed two strong months of acquisitions.

As a result, international transactions in securities generated a net inflow of funds of $13.5 billion in the Canadian economy in November, the largest inflow since November 2017.

Foreign acquisitions of Canadian debt securities increased to $7.4 billion in November. The bulk of the investment was in government debt securities, mainly federal government instruments.

Non-resident investors added $7.8 billion of Canadian bonds to their portfolio in November. Foreign investment in federal government bonds reached $3.0 billion. This was the second straight month of foreign investment in these instruments, following a general divestment trend totalling $35.1 billion from January to September.