(Bloomberg) Some of the highest-rated government agencies in the world are hitting up the Canadian bond market, taking advantage of pent-up demand from investors facing an issuance slowdown from the country’s own borrowers.
Three deals have arrived in recent days.
(Bloomberg) Some of the highest-rated government agencies in the world are hitting up the Canadian bond market, taking advantage of pent-up demand from investors facing an issuance slowdown from the country’s own borrowers. Three deals have arrived in recent days. The Council of Europe Development Bank did its first Canadian dollar transaction. Norway’s Kommunalbanken AS, which provides local government funding services, returned after an eight-year pause. German development agency for agribusiness Landwirtschaftliche Rentenbank sold loonie bonds for the first time in almost seven years. Expect more to come. Canadian provinces have slowed issuance to fund Covid relief after a record borrowing binge in 2020. That’s created an opportunity for international borrowers to tap the market some for the first time ever, or in years to unlock another pool of buyers. Provinces look poised to issue C$129 billion ($104 billion) of bonds in the fiscal year ending March 31, 2022, accordin
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Stimulus dollars doing the trick as US drives global economic recovery
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By David J. Lynch
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The robust US economic recovery this year is expected to be good news for factory workers, freight handlers and farmers.
Factory workers in China. Freight handlers in the Netherlands. And farmers in Germany.
Amid steady progress with coronavirus vaccinations, the US economy is gathering so much steam that its gains will not stay at home. Demand for goods and services this year is expected to spill well beyond US borders, making the United States the largest single contributor to global growth for the first time since 2005, according to Oxford Economics.