The surge was driven primarily by activity in the bond market. International investors acquired $51.3 billion in Canadian bonds during the month, an all-time high, although some of these gains were offset by sales of money market instruments.

Corporate debt was the main attraction, with foreign investors purchasing $31.5 billion in corporate bond issues. This included euro-denominated offerings sold abroad by Canadian chartered banks. Government debt also drew significant interest. Non-resident investors added $12.9 billion in federal bonds and bought $6.8 billion in provincial securities, marking the largest monthly inflow into provincial debt since May 2025.

The strength of global appetite for Canadian fixed income highlights the continued appeal of domestic bonds in an environment where investors are seeking yield and relative stability.

…

Foreign demand also extended to equities. Non-resident investors purchased $5.7 billion worth of Canadian shares, with buying concentrated in energy and mining companies. Activity in the secondary market remained firm, building on strong inflows seen late last year. Canadian equities posted modest gains during January, with the S&P/TSX Composite Index rising 0.7%.

…