Canada Plans First U.S.-Dollar Global Bond in Decade

Canada plans to sell as much as $3 billion of U.S.-dollar bonds worldwide in “the near future,” the first such sale in more than a decade, to boost foreign- exchange reserves and support lending by the International Monetary Fund.

Finance Minister Jim Flaherty announced the sale on the department’s Web site today, without giving the amount to be sold. Department spokesman Jack Aubry said the sale would be “benchmark size,” worth as much as $3 billion.

“The global bond issue will prudently diversify the government’s sources of foreign currency financing,” the statement said. The government also uses swaps to fund its Exchange Fund Account where foreign currencies are held.


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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza