The Globe and Mail reports in its Wednesday, July 1, edition that Canada's federal bond sales are surging. A Reuters dispatch to The Globe reports that this eases funding for Prime Minister Mark Carney's costly nation-building projects but may increase volatility in Canada's debt market. Foreign investors bought a record $27.7-billion in Government of Canada bonds in April, raising their share of outstanding bonds to an all-time high of 43 per cent. Only France and Germany attract a higher foreign stake among G7 sovereign debt markets, due to the euro's status as a major reserve currency. Mr. Carney plans to invest over $280-billion in infrastructure, defense and housing over the next five years, primarily funded through the bond market. A broader investor base may help keep borrowing costs down. "I regard the broader buyer base as a positive development, which has helped the Canadian government fund relatively large bond programs without unduly raising borrowing costs," said TD Securities analyst Andrew Kelvins. The move into Canadian bonds, despite lacklustre economic growth, reflects confidence in Canada as part of a shrinking band of countries whose bonds receive a triple-A credit rating.