17. May 2012 05:54
Canadian wholesale trade saw slower growth in March, up just 0.4% from February (still, that was higher than expectations). Only 3 of 7 subsectors saw increases, but they account for about half of all wholesale trade. The auto sector did best with a 2.4% increase. Overall volumes were unchanged. Y/Y wholesale sales are up 6.0%.
The March read on international securities transactions saw foreign investors getting out of Canadian securities. They divested about $2.1 billion worth of debt instruments, mainly Treasury bills. On the other hand, Canadians were out in the world buying, pickling up some $7.8 billion in foreign investments, mainly equities.
Employment growth in the U.S. appears to be sputtering. Initial jobless claims held steady in the latest reading at 370,000. Analysts had been projecting a modest decline. The previous week’s figures were revised upwards.
U.S. leading indicators are due out today. Expectations are for a slight 0.1% upward creep.
In Europe, bond yields in Spain have shot up on data that puts the country back in recession. An auction today has the Spanish treasury paying about 5% on 3 and 4 year bonds.