But while Canadian investors are rushing to sell domestic securities, some of the data suggests that foreign investor interest in Canada is not necessarily over.Tulk noted that December divestitures were a familiar theme for foreign investors as they close their year-end positions. He adds that most of the recent outflows from Canadian assets can be blamed mostly on domestic investors, not waning foreign demand.“On balance,Canada Goose image the divestment noted in 2015 is smaller than what occurred in years past and provides a counterpoint to the impression that foreign investors have abandoned the Canadian market amid the collapse in commodity prices,” he said.
Canada Goose image Non-resident investors bought $2.7 billion of Canadian money market products, with strong acquisitions in provincial and corporate paper. They also added $2.6 billion in stocks for the month, even as Canadian stock prices fell 3.4 per cent for the month.Charles St-Arnaud, economist with Nomura Securities, said in a note that there are signs that weak foreign demand for securities is more than just a seasonal trend, as demand has been weak since May (if the strong inflows of October are excluded). He notes that emerging market countries have sold a record number of Canadian bonds, which he suggests may have to do with foreign exchange intervention by a number of central banks, including the People’s Bank of China, in recent months.St-Arnaud adds that most of the inflows into Canadian bonds in recent months were restricted to bonds issued in currencies other than the Canadian or U.S. dollar. He expects the recent weak demand to continue in the coming months.“With oil prices remaining under pressure and CAD depreciating again, flows are likely to remain weak in coming months,” he said.
Walmart Canada is looking for a new chief executive with news of CEO Dirk Van den Berghe’s reassignment to China.Van den Berghe, who has quietly led the country’s biggest mass merchant through a period of ever strengthening results since taking up the helm in August of 2014, will also be in charge of the retailer’s Asia region, including Japan.The move was announced as part of a global shuffle this week after parent company Wal-Mart Stores Inc.Canada Goose image announced the pending departure of Andy Clarke, CEO of the retailer’s struggling U.K. unit, Asda. It comes after company executives criticized Asda’s poor performance at the Bentonville, Arkansas-based parent company Wal-Mart Stores Inc.’s annual meeting of shareholders on June 3. Sean Clarke, the current CEO of Wal-Mart in China, will replace Andy Clarke as head of Asda.