Posted AT 8:01 AM EST on 14/08/08
Investors look to infrastructure, insurance as banks stumble
Investors are hitting the highway on bank securities, fleeing for the relative safety of investments ranging from road projects to insurers.The market is lapping up a $266-million swath of 5.95 per cent single-A rated bonds that mature in 2041 and will be used to finance part of the Edmonton Ring Road. In fact, the pricing, at 180 basis points over benchmark Government of Canada debt, is roughly what investors are willing to pay right now for five-year Canadian bank debt.
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