FINWIRES · TerminalLIVE
FINWIRES

Manufacturing, Wholesale Sales Improved Canada's Data Flow for February, said BMO

By

The February Canadian data flow just got a whole lot better on the back of manufacturing and wholesale sales data, said Bank of Montreal (BMO) after the release Wednesday of both.

Manufacturing volumes jumped 3.4% in the month, although that just reverses a chunk of the 4.2% month-over-month decline seen in January with a big swing in autos, noted the bank.

Wholesale volumes rose 1.1% month over month, also reversing most of the prior-month decline, pointed out BMO.

BMO said retail numbers are still outstanding, but added this sets up February for growth of around 0.2%, or consistent with Statistics Canada's initial flash estimate ("work hours were down, but StatsCan also noted strength in mining in the month, which can be a wildcard)".

A "sturdy" print would leave growth for all of Q1 tracking around 1.5%, with the Bank of Canada's 1.8% call well within reach, according to BMO.

Related Articles

Treasury

Tiny Extends Convertible-Debenture Issuer Bid Deadline to June 15

Tiny (TINY.TO) after trade Wednesday said it extended the deadline for its offer to buy back its 11.00% secured convertible debentures due May 12, 2030.The issuer bid, launched on Feb. 5, will now remain open until 5:00 p.m. Toronto time on June 15, unless the company decides to extend, change, or withdraw it again. All other terms of the offer remain unchanged, it said."The company is further extending the offer to continue to evaluate various options, achieve an optimal outcome for its stakeholders, and meet the objectives set out by the board of directors of Tiny. The company will continue to provide updates as necessary, and during future quarterly financial results communications," Tiny said.

$TINY.TO
Treasury

US Treasury Closing Levels

3:00 Wednesday vs 3:00 Tuesday2yr 100-06 vs 100-07; 3.763% vs 3.751%5yr 99-28 vs 100-00; 3.894% vs 3.871%10yr 98-24 vs 98-30; 4.278% vs 4.256%30yr 97-25 vs 98-04; 4.889% vs 4.867%2/10 51.394 bps vs 50.525 bps5/30 99.231 bps vs 99.445 bps

Treasury

Morgan Stanley Still Sees Bank of Canada's First Rate Hike in Q1 2027

The Bank of Canada delivered a dovish hold at its March policy meeting, said Morgan Stanley.The January Monetary Policy Report laid out a range of scenarios for the CUSMA trade deal renegotiation, framing it as the key risk for the Canadian economy going forward.The February jobs report was decidedly weak -- the Canadian economy lost 84,000 jobs and the unemployment rose by 25 bps to 6.71%.Morgan Stanley stated it continues to expect the BoC to remain on hold this year and hike rates in Q1 2027. Considerable weakness in the labor market and consumption, persistence of the oil shock and downside risks from the CUSMA review have lowered the bar for cuts at the upcoming policy meetings.

$CXY