Thursday, July 7, 2011

Financial Update: Thursday July 7, 2011

• TSX -22.20 to 13,403.10 (CP) Ended a six-day streak of gains as an interest rate hike in China, the third this year, and Europe's debt woes pushed oil and gas shares sharply lower

• DOW +56.15 to 12,626.02 .

• Dollar -.26c to 103.56c USD .

• Oil -$.24 to $96.65USD per barrel A stronger US dollar and the Chinese rate hike pushed down oil and other commodity prices on fears of reduced demand

• Gold +$16.50 to $1529.20USD per ounce Gold soared for a second day as markets worried about European debt and slowing Chinese growth

The spread (based on NEW MERIX 5 yr published rate of 3.94%) is back above the comfort zone at 1.68.
The spread based on the NEW quick close of 3.74% is now comfortably settled into the middle of the comfort zone at 1.48