Retail investors continue to show very little inclination to borrow funds to invest in equities.

According to the latest data from the Investment Dealers Association of Canada, outstanding debt in client margin accounts slipped slightly to $6.6 billion at the end of March, down from $6.84 billion in the prior month.

Margin debt started the year at just over $7 billion, and it has slipped for three straight months now. Although it is still above its recent low of $6.58 billion, which was recorded back in October 2002.

Borrowing has slipped steadily with the deterioration of the markets. Last year started with client debt at more than $8.4 billion, and the high was back in September 2000 at $11.9 billion.