· TSX -171.74 to 13,084 (Reuters)
The end of another negative week as rising worries about slowing economic conditions pushed stocks lower across most sectors. In addition to a loss in momentum of U.S. growth, "China is slowing, India is slowing their growth and they're doing it intentionally (to fight inflation). We still have high commodity prices putting a damper on the economy. Those are very valid reasons for a retraction in equity prices," said Chris King, portfolio manager at Morgan Meighen and Assoc. (Reuters)
· DOW -172.45 to 11,951.91
· Dollar -.54c to 102.22c USD
Weak oil prices and a stronger U.S. currency pushed the Canadian dollar lower.
· Oil -$2.64 to $99.29USD per barrel Reports that Saudi Arabia is set to ramp up oil production.
· Gold -$13.50 to $1529.20 per ounce
The spread (based on MERIX 5 yr published rate of 3.89%) is above the comfort zone at 1.66.
The spread based on the NEW quick close of 3.59% is now below the comfort zone at 1.36.
