• TSX +85.62 to 13,386.49 (CP)
Racked up another solid gain Monday as investors reacted belatedly to a strong U.S. manufacturing report and higher oil and gold prices. There are high hopes that the second half will yield better results than the first of the year.
• DOW + closed for Independence Day although oil and gold were up in electronic trading.
• Dollar +.40c to 104.08c USD in the wake of strong economic reports last week that could help persuade the Bank of Canada to raise its key interest rates later in the year.
• Oil +$. to $94.94USD per barrel
• Gold to $1482.30USD per ounce
The spread (based on the MERIX 5 yr rate published rate of 3.79%) of the comfort zone at 1.48. The spread based on the quick close of 3.59% is well below the bottom of the comfort zone at 1.28 and is at risk of ending.
