The countries’ top pension funds—including AustralianSuper and Canada’s CPP Investments, Ontario Teachers’ Pension Plan and La Caisse—agreed to make it easier to invest between the two countries, “in the interest of mutual value creation.” (The Logic)

Talking point: The voluntary agreement aims to increase dialogue with governments to reduce barriers that may limit the funds from making long-term investments in the two markets. The initiative comes as Canadian pensions explore diversifying their exposure away from the U.S., and as policymakers in the country urge the funds to invest more in Canada. A recent report from credit ratings agency Morningstar DBRS shows the Maple 8 have been borrowing more money in non-U.S. currencies, including Australia—an early sign of where the funds intend to invest.