CANADA DATA: Manufacturing sales -0.4% in June vs unchanged in May,
led by a 10.6% drop in sales of petroleum and coal products. Sales of
non-durable goods -2.7% while sales of durable goods +1.6%.
Manufacturing inventories -1.7%, first slide in three months. Unfilled
orders +2.2% and new orders +1.7%.
CANADA DATA: Foreigners divested C$7.9 bln of Canadian securities
from their portfolios in June, ending two months of strong growth. This
reduction was led by non-residents selling C$7.8 bln worth of Canadian
bonds, largest divestment since Dec 2008, resulting from a C$17.5 bln
retirement of maturing instruments. Foreign investors also sold C$910
mln worth of Canadian equity and acquired C$783 mln worth of Canadian
money market paper. Comparatively, Canadian investors added C$3.935 bln
worth of foreign securities to their portfolios, with majority of the
acquisition taking place in foreign bonds.