• TSX +133.99 to 12768.70
Financial stocks helped take the TSX higher Wednesday after CIBC (TSX:CM) handed in quarterly earnings that beat expectations while investors largely shrugged off data showing the Canadian economy hit the brakes in the second quarter.
• DOW +53.58 to 11613.53
• Dollar +.10 to 102.12 USD
• Oil +1.50 to $88.39 USD per barrel
Oil prices hovered below US$89 a barrel Thursday in Asia amid a global stock market rally that has boosted crude trader optimism the U.S. may avoid a recession.
• Gold -9.80 to $1823.80 per ounce
• Canadian 5 yr bond yields markets +0.06bps to 1.66.
The spread (based on the MERIX 5 yr published rate of 3.59%) is near the top of comfort zone at 1.93.
The spread based on the 5yr quick close rate of 3.39% is at the bottom of the comfort zone at 1.73 The uncertainty in the bond market is forcing a wider than normal margin until investors see some stability return.
