Canada’s Dollar Reaches Two-week High Amid Bets On Fed
stocks added 0.4 percent. Canadian government bonds rose, pushing the yield on benchmark 10-year debt down six basis points, or 0.06 percentage point, to 2.56 percent. The 1.5 percent security maturing in June 2023 gained 47 cents to C$91.06. Bond Auction The Bank of Canada sold C$3.3 billion ($3.2 billion) of two-year debt yesterday at a yield of 1.280 percent. The 1.25 percent securities mature in February 2016. The bid-to-cover ratio, which gauges demand by comparing the amount bid with the amount offered, was 2.8, the most for a two-year note since the Aug. 21 auction. Purchases of Canadian securities by foreigners slowed in August as investors sold government bonds. While foreigners bought a net C$2.03 billion of bonds, they sold C$1.22 billion in government debt, including C$883 million in federal issues. Foreign investors sold a net C$2.4 billion of Canadian government bonds between January and August, Statistics Canada said, compared with net purchases of C$28.7 billion in the same period a year earlier. Total purchases so far this year have slowed to C$24 billion, less than half of the C$51.2 billion total for the same period in 2012.
Canada’s prime minister to travel to Brussels to conclude EU free trade deal
One thorny issue surrounding the deal was overcome Thursday when Canada announced it would lift visa requirements for Czech nationals. More business news Lori Montgomery, Rosalind S. Helderman and William Branigin Bipartisan deal to end shutdown, extend borrowing is a major defeat for conservative wing of GOP. More business news The Czech Republic, which had threatened to block the free trade deal over the visa issue, welcomed the announcement. Canada reimposed visa requirements for Czech citizens in 2007 because of concerns over an excessive number of asylum seekers. Canadas Ambassador to Prague, Otto, Jelinek, said his government wants to re-establish visa-free status in the earliest possible term. EU trade spokesman John Clancy said in an e-mail that the European Union and Canada hope to conclude the free trade deal in the coming days. Harper posted on his official Twitter account that Canada will soon complete negotiations. His office said he will meet with the president of the European Commission, Jose Manuel Barroso. Yves Leduc, director of international trade for the Dairy Farmers of Canada, said hes been told by a Canadian government official that an agreement in principle has been reached and that the European Unions 28 members and Canadas 10 provinces have to approve it. Canada has agreed to permit a doubling of the EU quota on cheese exports to Canada in exchange for greater access for Canadian beef and pork producers. Leduc said Canadas cheese industry is angry because it threatens the fine cheese market in Canada. For the dairy farmers of Canada this is a deal that is unacceptable. Were more than disappointed, Leduc said. It will allow significant access of high quality or fine cheeses into Canada, a segment that is supplied by the smaller or medium size cheese factories in Canada. Harper has said that a free trade deal between his country and the European Union could help the EU establish a beachhead as the bloc embark on separate free trade talks with the U.S.