Financial Update: November 14, 2011

• TSX +167.98 to 12276.85
• DOW +259.89 to 12153.68
• Dollar +0.16 to 98.12
• Oil -0.19 to 97.90
• Gold -11.20 to 1777.00
• Canadian 5 yr bond yields markets +0.001000 bps to 1.40.  The spread (based on the MERIX 5 yr rate published rate of 3.59%) is above the comfort zone at 2.190    The rate of return on your bond, can be read through a yield curve, If the increase in bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise.  The comfort zone is between 1.85 and 2.10

Financial Update: November 10, 2011

• TSX -332.62 to 12,156.22 Markets roughed up by Italian news

• DOW -389.24 to 11,780.24

• Dollar +.0034 to .9804

• Oil +1.69 to 97.43

• Gold -19.70 to 1,771.90

• Canadian 5 yr bond yields markets +0.037000 bps to 1.38. 
  The spread (based on the MERIX 5 yr rate published rate of 3.59%) is above the comfort zone at 2.210    The rate of return on your bond, can be read through a yield curve, If the increase in bond yield continues to go up, the spread will continue to shrink and this could be a trigger for interest rates to rise.  The comfort zone is between 1.85 and 2.10

Financial Update: September 1, 2011

• 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.

Financial Update: Monday August 22, 2011

• TSX -179.24 to 12,007.47 (CP)
As investors fretted about whether the U.S. and global economies are headed for another recession that could punish corporate earnings and sap consumer confidence. Traders digested comments from Finance Minister Jim Flaherty and Bank of Canada governor Mark Carney, who testified before the Parliamentary finance committee about the state of Canada's economy after two weeks of frenzied trading on stock markets. Flaherty told the committee the current global economic turmoil will impact the Canadian economy, but so far his budget projections remain on track. Carney, said the U.S. is facing its weakest recovery since the Depression, but is not headed toward another recession.

• DOW -172.93 to 10,817.65
Investors have been trading emotionally since the beginning of August and the latest push into panic mode was a woeful manufacturing survey Thursday from the Federal Reserve Bank of Philadelphia

• Dollar -$.02c to 101.15c USD.

• Oil -$.12 to $82.26USD per barrel

• Gold +$30.00 to $1848.90 USD per ounce closed at its latest record high after earlier spiking as high as $1881.

• Canadian 5 yr bond yields markets 0bps to 1.41.
The spread (based on the NEW MERIX 5 yr rate published rate of 3.59%) is above the comfort zone at 2.18. The spread based on the NEW 5yr quick close rate of 3.39% is above the comfort zone at 1.98

Financial Update: Friday August 12, 2011

• TSX +340.91 to 12,539.80 (CP) 
• Gained for a third day as bargain-hunters were out in full force to buy up stocks beaten down over several weeks of market chaos.

• DOW +423.37 to 11,143.31 
• New York benefited the most from the search for under priced stocks, racking up gains of more than four per cent even as worries continued about the European debt crisis and a weakening American economy.

• Dollar +$.66 to 101.18 USD 
• Amid higher oil prices and strong gains on North American equity markets.

• Oil +$2.83 to $85.72USD per barrel 

• Gold -$32.80 to $1751.50USD per ounce 

• Canadian 5 yr bond yields markets +.15bps to 1.50. 
• The spread (based on the MERIX 5 yr published rate of 3.69%) is above the comfort zone at 2.19. 
• The spread based on the quick close of 3.49% is above the comfort zone at 1.99

Financial Update: Thursday August 11, 2011

• TSX +89.63 to 12,198.89 (CP) 
• The rise was due in large measure to gold stocks which rose as fresh worries about the European debt crisis pushed bullion past the US$1,800 mark for the first time and oil stocks driven higher by surging prices. Despite the positive showing on the TSX, volatility continued to rule the market with the main index down as much as 192 points earlier in the session.

• DOW -519.83 to 10,719.94 
• The central problems confronting markets remain: dwindling confidence in political leaders and central bankers to get a grip on the European government debt crisis and a growing conviction that the U.S. is sliding back into recession. This market is not trading on fundamentals, it's trading on fear. Problems in focus were concerns that France could lose its AAA rating on government debt. Some analysts have warned that France — the world's fifth-biggest economy — can't afford to keep bailing out poorer European state

• Dollar -$1.64 to 100.52 USD 
• After the U.S. Federal Reserve promised to leave interest rates ultra-low until mid-2013. Investors believe the Fed's stance on rates likely means the Bank of Canada is in no hurry to resume hiking interest rates. Markets had until recently expected that the central bank would start moving on rates this fall. 

• Oil +$3.59 to $82.89USD per barrel 

• Gold $+41.30 to $1784.30USD per ounce 
• Traders looking for safety continued to send bullion prices further into record territory, charging to another new record high close.

• Canadian 5 yr bond yields markets -.17bps to 1.35. 

The spread (based on the MERIX 5 yr rate published rate of 3.69%) is above the comfort zone at 2.34. The spread based on the quick close of 3.49% is above the comfort zone at 2.14.

Financial Update: Tuesday August 9, 2011

• TSX -491.21 to 11,670.96 
• Dragging the TSX below the 12,000 benchmark after an unprecedented credit rating downgrade of U.S. government debt by Standard and Poor's added momentum to a four-week-old sell-off, to its lowest close in a year and the biggest one-day drop since December 1, 2008.

• DOW -634.76 to 10,809.85 
• Plunged below the 11,000 mark as Standard & Poor's also on Monday downgraded the credit ratings of mortgage lenders Fannie Mae, Freddie Mac, which between them own or guarantee about half of all U.S. mortgages, and other agencies linked to long-term U.S. debt. Their downgrade could mean higher mortgage rates for consumers. Investors were unimpressed with remarks from U.S. President Barack Obama early in the afternoon where he essentially dismissed the S&P downgrade. He tried to reassure investors and the public that the nation's leaders need only show more "common sense and compromise" to tame a staggering accumulation of debt.

• Dollar -$1.25 to 100.92 USD 
• As nervous investors piled into U.S. Treasury's and precious metals while demand concerns sent oil and metal prices reeling.

•  Oil -$5.57 to $81.31 USD per barrel 
• Concerns the U.S. economy could be slipping back into recession and demand worries continued to push oil to its lowest price of the year.

• Gold $+61.40 to $1713.20 USD per ounce charging to a new record high close.

• Canadian 5 yr bond yields markets -.26bps to 1.52.
  The spread (based on the MERIX 5 yr rate published rate of 3.69%) is above the comfort zone at 2.17.
  The spread based on the quick close of 3.49% is above the comfort zone at 1.97  T
  

Financial Update: Monday August 8, 2011

• TSX -217.96 to 12,162.17   
• Another whipsaw session after having plummeted almost 500 points earlier in the day as a stronger than expected U.S. jobs report failed to reassure investors already worried about a slowing American economy and a lack of leadership in coming to grips with the European debt crisis.

• DOW +60.93 to 11,444.61 
• The announcement that 117,000 were created in July was simply not enough to brighten investors' mood. The rise was higher than the approximately 80,000 jobs that economists expected. Also, the jobless rate edged down 0.1 per cent to 9.1 per cent.

• Dollar +$.15 to 102.24 US

• Oil +$.25 to 86.88USD per barrel 
• Losses a day after the TSX racked up its biggest single-session decline in more than two years, were led by sliding resource stocks amid investor sentiment that slowing economic conditions will heavily impact demand. It added up to a loss of six per cent or 783 points this week, leaving the TSX down almost 10 per cent year to date.

• Gold $-7.40 to $1648.80USD per ounce

Canadian 5 yr bond yields markets +.11bps to 1.78. The spread (based on the MERIX 5 yr rate published rate of 3.69%) is above the comfort zone at 1.91. The spread based on the quick close of 3.49% is above the comfort zone at 1.71.

Financial Update: Friday August 5, 2011

• TSX -435.90 to 12380.13 
• North American stock markets took a hammering Thursday as investors grew ever more pessimistic about the economy with evidence mounting that a serious slowdown may be under way.

• DOW -512.76 to 11383.34 

• Dollar -1.82 to 102.04 USD 

• Oil -6.84 to 85.63USD per barrel 

• Gold -11.80 to $1652.50USD per ounce 

• Canadian 5 yr bond yields markets -22bps to 1.67. 
• The spread (based on the MERIX 5 yr published rate of 3.69%) is above the comfort zone at 2.02. 
• The spread based on the quick close of 3.49% is above the comfort zone at 1.82

Financial Update: Wednesday August 3, 2011

• TSX -193.31 to 12752.32 (Reuters) - Toronto's main stock index fell hard on Friday morning as commodity prices slid on fears of another Chinese rate hike and the ability of some euro zone countries to service their debts.

• DOW -265.87 to 11866.62 

• Dollar -74c to 103.85 USD 

• Oil -1.47 to 93.82USD per barrel 

Crude oil prices fell on Tuesday on concerns for the US economy, despite a critical debt deal to avert a default, analysts said.

• Gold +33.30 to $1656.60USD per ounce.

Canadian 5 yr bond yields markets -16bps to 1.87. 

The spread (based on the MERIX 5 yr published rate of 3.84%) is above the comfort zone at 1.97. 

The spread based on the quick close of 3.64% is above the comfort zone at 1.77

Financial Update: Friday June 29, 2011

• TSX -+15.11 to 13047.78
The Toronto stock market closed little changed Thursday as investors frustrated with the failure of American lawmakers to raise the country's debt limit looked ahead to a vote in the U.S. House of Representatives later in the day.

• DOW -.62.44 to 12240.11
Stocks sank for the fifth straight session on Thursday as political wrangling over the U.S. deficit continued to unnerve Wall Street

• Dollar -16c to 105.04 USD 

• Oil +0.33 to $97.22USD per barrel 

• Gold -.70 to $1616.50USD per ounce 

• Canadian 5 yr bond yields markets -.01bps to 2.15.
The spread (based on the MERIX 5 yr rate published rate of 3.84%) is at the top of the comfort zone at 1.69. The spread based on the quick close of 3.64% is creeping up but still mid comfort zone at 1.49

Financial Update: Thursday July 28, 2011

• TSX -267.89 to 13032.67 

The Toronto stock market tumbled as investors grow increasingly pessimistic about the potential economic consequences of a U.S. failure to raise its debt limit.

• DOW -.193.75 to 12302.55 

Stocks sank for the fourth straight session on Wednesday as political wrangling over the U.S. deficit continued to unnerve Wall Street

• Dollar -62c to 105.20 USD 

• Oil -2.34 to $96.89USD per barrel 

• Gold -8.00 to $1617.20USD per ounce 

• Canadian 5 yr bond yields markets -.02bps to 2.14. 

The spread (based on the MERIX 5 yr published rate of 3.84%) is at the top of the comfort zone at 1.70. The spread based on the quick close of 3.64% is creeping up but still mid comfort zone at 1.50

Financial Update: Wednesday July 27, 2011

• TSX -135.39 to 13300.56 

• DOW -.91.50 to 12,501.30

• Dollar +38c to 105.82c USD 

• Oil +.14 to $99.23USD per barrel 

• Gold +5.90 to $1625.20 USD per ounce 

Gold approached an all-time high as investors sought to protect their wealth against the possibility of a U.S. default that may come as soon as next week amid a standoff over the country’s $14.3 trillion debt limit. 

• Canadian 5 yr bond yields markets -.03bps to 2.16. 

The spread (based on the MERIX 5 yr published rate of 3.84%) is at the top of the comfort zone at 1.68. 

The spread based on the quick close of 3.64% is creeping up but still mid comfort zone at 1.48.

Financial Update: Tuesday July 26, 2011

• TSX -58.68 to 13435.95

• DOW -.88.36 to 12,592.80

• Dollar -.03c to 105.44c USD

• Oil -.11 to $99.09USD per barrel 

• Gold +2.60 to $1617.50USD per ounce 

• Canadian 5 yr bond yields markets -.01bps to 2.19. The spread (based on the MERIX 5 yr rate published rate of 3.84%) is at the top of the comfort zone at 1.65. The spread based on the quick close of 3.64% is mid comfort zone at 1.45

Financial Update: Friday July 22, 2011

· TSX +93.47 to 13,434.30 (CP) 

Bank and energy stocks led the way to a solid advance as Eurozone leaders announced a new plan to deal with the Greek government debt crisis. Eurozone leaders say that, together with the International Monetary Fund, they will give Greece a second bailout worth euro 109 billion (US$155 billion). But banks and other private investors will also share in the heavy lifting — they will contribute some euro37 billion to the rescue package.

· DOW +152.50 to 12,724.41

· Dollar +.23c to 105.78c USD 

The Canadian dollar was on a tear, after earlier running up as high as 106.11 cents US, its highest level since late November 2007. The loonie has surged about 1.5 cents since Tuesday when the Bank of Canada indicated that interest rates will rise from their current level of one per cent. Analysts say higher rates and favorable economic conditions should keep the dollar well above parity.

· Oil +$.73 to $99.13USD per barrel

· Gold -$9.90 to $1587 USD per ounce bullion prices declined for a third day.

· Canadian 5 yr bond yields markets +.03bps to 2.27.

The spread (based on the MERIX 5 yr published rate of 3.84%) is at the top of the comfort zone at 1.57. The spread based on the quick close of 3.64% is mid comfort zone at 1.37.

Financial Update: Wednesday July 20, 2011

• TSX +78.78 to 13,332.92 (CP) 

Rising oil and copper prices helped push the TSX higher while some strong U.S. earnings reports helped briefly divert investor attention from government debt worries.

• DOW +202.26 to 12,587.42 

• Dollar +.88c to 105.17c USD 

The Canadian dollar powered to its highest level against the U.S. dollar in 2-1/2 months after the Bank of Canada held its key interest rate steady, but hinted more firmly than before that it would resume increasing rates.

• Oil -$1.57 to $97.50 USD per barrel 

Amid a survey by Platts, the energy information arm of McGraw-Hill Cos., that crude inventories likely fell by 1.3 million barrels last week while gasoline supplies probably dropped 450,000 barrels.

• Gold -$1.30 to $1601.10 USD per ounce 

• Canadian 5 yr bond yields markets +.07bps to 2.19. 

The spread (based on the MERIX 5 yr published rate of 3.84%) is at the top of the comfort zone at 1.65. 

The spread based on the quick close of 3.64% is mid comfort zone at 1.42 

Financial Update: Monday July 18, 2011

• TSX +46.62 to 13,299.54 (CP) racks up slight gain amid worse than expected U.S. consumer sentiment data

• DOW +42.61 to 12,479.73 

• Dollar +.73c to 104.79c USD
Amid a new warning on U.S. debt and rising commodity prices. Standard & Poor’s said there is a 50 per cent chance it will downgrade the U.S. government’s credit rating within 3 months because of the congressional impasse over approving an increase in the debt ceiling. The rating agency said it is placing the United States triple-A rating on a credit watch.

• Oil +$1.55 to $97.24 USD per barrel 

• Gold +$.80 to $1590.10 USD per ounce closed to another new record high

• Canadian 5 yr bond yields markets -.08bps to 2.13. 

The spread (based on the MERIX 5 yr rate published rate of 3.84%) is over the top of the comfort zone at 1.71. 

The spread based on the quick close of 3.64% is now mid comfort zone at 1.51 

Financial Update: Friday July 15, 2011

• TSX -72.02 to 13,252.92 (CP) 

Gave up an early, solid gain to close lower as traders mulled over what the U.S. Federal Reserve is prepared to do to help the economic recovery. Investors took Bernanke’s earlier remarks to mean that the Fed chairman had all but guaranteed new action to stimulate the economy, but they realize now that’s not the case. 

• DOW +44.73 to 12,491.61 

Negotiations over raising the national debt entered a perilous endgame as Wall Street warned of catastrophe if the U.S. defaults on its obligations for the first time. Obama's blunt declaration that "enough is enough" as Wednesday's talks ended did nothing to quell the rancour as a new day of positioning and posturing began. Investors also absorbed a warning that the United States may lose its key triple-A credit rating.

• Dollar -.14c to 104.06c USD 

• Oil -$2.36 to $95.69USD per barrel 

Oil dropped more than two per cent Thursday after U.S. Federal Reserve chairman Ben Bernanke said the government would not immediately pump more cash into economic stimulus programs. 

• Gold +$3.80 to $1589.30USD per ounce Nervous investors bid bullion higher to a fresh record close. 

• Canadian 5 yr bond yields markets +.04bps to 2.21. The spread (based on the MERIX 5 yr published rate of 3.84%) is at the top of the comfort zone at 1.63. The spread based on the quick close of 3.64% is now at the bottom comfort zone at 1.43

Financial Update: Thursday July 14, 2011

• TSX +90.86 to 13,324.94 (CP) on comments from Federal Reserve chairman Ben Bernanke that he is prepared to further stimulate the faltering U.S. economy and gold prices that hit a new record.

• DOW +44.73 to 12,491.61 

• Dollar +.70c to 104.20c USD as strong Chinese growth data helped drive commodity prices higher. The currency was also lifted by comments by U.S. Federal Reserve chairman Ben Bernanke.

• Oil +$.62 to $98.05USD per barrel 

• Gold +$23.20 to $1585.50 USD per ounce
Gold glitters to close at a new RECORD HIGH closing price on continuing fears over debt crises unfolding in Europe and the U.S., which has yet to craft a plan to avoiding defaulting on its obligations by raising the country’s debt ceiling. Europe’s problems also appeared no closer to resolution.

• Canadian 5 yr bond yields markets +.02bps to 2.17.
The spread (based on the MERIX 5 yr rate published rate of 3.84%) is at the top of the comfort zone at 1.67.
The spread based on the quick close of 3.64% is mid comfort zone at 1.47

Financial Update: Tuesday July 12, 2011

• TSX -191.95 to 13,179.75 (CP)

The Toronto stock market sold off across all sectors in another round of worry about the Eurozone debt crisis spreading to larger economies. Worries Italy could be engulfed in the financial crisis pushed the interest rate on a 10-year Italian bond up to 5.64 per cent while the rate on the German equivalent, considered the safest in the Eurozone, traded at 2.67 per cent. Investors want a higher interest rate or return on Italian bonds because of perceived risk of default.

• DOW -151.44 to 12,505.76

Sentiment on markets was already downbeat after Washington announced Friday that the American economy created just 18,000 jobs in June, which was a fraction of the figure expected.

• Dollar -.89c to 103.20c USD as traders fled to the safe-haven status of U.S. Treasury's

• Oil -$1.05 to $95.15USD per barrel Prices for oil and metals fell back as the U.S. dollar strengthened. A stronger greenback usually helps depress commodity prices, which are denominated in dollars, as it makes items such as oil and metals more expensive for holders of other currencies.

• Gold +$7.60 to $1549.20USD per ounce Investors looking for safety also pushed gold prices higher.

• Canadian 5 yr bond yields markets -.10bps to 2.14.

The spread (based on the NEW MERIX 5 yr published rate of 3.84%) remains the same over the top of the comfort zone at 1.70

Financial Update: Monday July 11, 2011

• TSX -34.30 to 13,371.70 (CP)

Dragged down by resource stocks as oil and metal prices retreated amid U.S. employment numbers which reinforced fears that the American economy is stuck in a soft patch.

• DOW -62.29 to 12,657.20

• Dollar -.22c to 104.09c USD

• Oil -$2.47 to $96.20 USD per barrel 

Following the American jobs report

• Gold +$11.00 to $1541.60 USD per ounce

• Canadian 5 yr bond yields markets -.10bps to 2.24.

The spread (based on the MERIX 5 yr rate published rate of 3.94%) is over the top of the comfort zone at 1.70.

The spread based on the quick close of 3.74% is now in the middle of the comfort zone at 1.50

Financial Update: Friday July 8, 2011

• TSX +2.90 to 13,406.00 (CP) 

Lost most of its early gains and closed barely ahead at the end of trading due to losses in telecom and industrial stocks.

• DOW +93.47 to 12,719.49 

Payroll firm ADP reported that the American private sector created 157,000 jobs last month. Economists had expected the economy to crank out a total of 90,000 jobs.

• Dollar +.75c to 104.31c USD the highest close since May 10. 

• Oil +$2.02 to $98.67USD per barrel 

The market found support from energy stocks as oil prices got a boost from positive American employment news. 

• Gold +$1.40 to $1530.60 USD per ounce

• Canadian 5 yr bond yields markets +.08bps to 2.34. 

The spread (based on the MERIX 5 yr published rate of 3.94%) is now back within the comfort zone at 1.60. 

The spread based on the quick close of 3.74% is now at the very bottom of the comfort zone at 1.40

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

• Canadian 5 yr bond yields markets -.02bps to 2.26.

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

Financial Update: Wednesday July 6, 2011

• TSX +38.81 to 13,425.30 (CP)

Surging prices for oil and gold helped drive the Toronto stock market higher, its sixth straight positive close.

• DOW -12.90 to 12,569.87

Ratings agency Moody's has downgraded Portugal's government debt to junk status, citing the growing risk the country will need a second rescue package and concerns it will not meet its debt reduction targets. 

• Dollar -.26c to 103.82c USD. 

• Oil +$1.95 to $96.89USD per barrel on hopes for higher demand 

• Gold +$30.10 to $1512.70 USD per ounce Concerns about global debt problems helped push gold prices higher

• Canadian 5 yr bond yields markets -.03bps to 2.28. 

The spread (based on the NEW MERIX 5 yr published rate of 3.94%) is back above the comfort zone at 1.66. 

The spread based on the NEW quick close of 3.74% is now comfortably settled into the middle of the comfort zone at 1.46 (Rate Specials Summary below) 

Financial Update: Tuesday July 5, 2011

• 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 

• Canadian 5 yr bond yields markets -.02bps to 2.31. 

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.

Financial Update: Monday July 4, 2011

TSX +111.93 to 13,300.87 ended the last trading day of the quarter Thursday with a fourth consecutive session of gains. Traders took in modestly positive Canadian economic growth data and news that Greece's controversial austerity measures will go ahead. A pickup in manufacturing in the U.S. also pushed indexes higher, before closing for Friday Canada Day
 

DOW +152.92 Thur, 168.43 Fri to 12,582.77   U.S. data showed that slightly fewer people applied for unemployment benefits last week, but the level of claims is still high at 428,000.
 

Dollar +.65c Thurs, +.60c Fri to 104.33c USD   after Statistics Canada reported that real gross domestic product was unchanged in April compared with March, as both the goods producing and services sectors remained flat. Economists had been expecting a 0.1 per cent decline

Oil +$.65 Thurs, -$.48 Fri to $94.94USD per barrel   Oil and gold prices appear to have moved past recent lows, a trend that bodes well for the performance of the resource-heavy TSX .  Over two days, oil has recovered the loss from last Thursday when the United States and other oil-importing countries said they would dump emergency oil supplies onto the market
 

Gold -$7.60 Thurs, -$20 Fri to $1482.30USD per ounce  
 

Canadian 5 yr bond yields markets +.03bps to 2.33.  The spread (based on the MERIX 5 yr rate published rate of 3.79%) of the comfort zone at 1.46. The spread based on the quick close of 3.59% is well below the bottom of the comfort zone at 1.26 and is at risk of ending.

Financial Update: Thursday June 30, 2011

Goodbye June...Hello July!

TSX +83.96 to 13,188.94 (CP)  its third consecutive day of solid gains as traders took in stronger than expected inflation data and news that Greece had passed an austerity bill that should help Athens avoid defaulting on its debt. The surprisingly strong inflation results could put pressure on the Bank of Canada to take a more hawkish tone on inflation in the next interest rate announcement in less than three weeks. The bank had warned it expected inflation to push above three per cent during the spring, but few expected it would hit such elevated levels.

DOW +72.73 to 12,261.42.

Dollar +1.27c to 103.03c USD.

Oil +$1.88 to $94.77USD per barrel   Oil and gold prices appear to have moved past recent lows, a trend that bodes well for the performance of the resource-heavy TSX .  Over two days, oil has recovered the loss from last Thursday when the United States and other oil-importing countries said they would dump emergency oil supplies onto the market.

Gold +$10.40 to $1510.20USD per ounce.

Canadian 5 yr bond yields markets +.15bps to 2.30.  That’s an increase of 30bps since Monday's low! The spread (based on the MERIX 5 yr rate published rate of 3.79%) is now down  to the middle of the comfort zone at 1.49 as money moves away from bonds to stocks. The spread based on the quick close of 3.59% is well below the bottom of the comfort zone at 1.29.

Financial Update: Wednesday June 29, 2011

TSX +138.49 to 13,104.98 (CP)  as commodity prices rallied from recent lows and traders appeared more upbeat ahead of a key Greek vote aimed at avoiding a debt default. There could also be some "window dressing" behind the rally, as investors buy positions to record on their balance sheet ahead of the end of the second quarter on June 30. Coming into the end of this week, with the holidays quickly approaching, trading is going to slow down markedly. That means any investors making moves will have a greater impact on the direction of the overall exchange than usual.

DOW +145.13 to 12,188.69 as French banks agreed to accept slower repayment on Greek debts, another key step in avoiding a Greek debt default. Wall Street was higher amid the news from Greece and mixed domestic economic data. The Standard & Poor's/Case-Shiller home-price index showed home prices in major U.S. cities have risen for the first time in eight months, boosted by an annual flurry of spring buyers.

Dollar +.41c to 101.76c USD as commodity prices rebounded from several days of decline.

Oil +$2.28 to $92.89USD per barrel.

Gold +$3.80 to $1500.20USD per ounce.

Canadian 5 yr bond yields markets +.10bps to 2.15.  The spread (based on the MERIX 5 yr rate published rate of 3.79%) is quickly back to the top of the comfort zone at 1.64 as money moves away from bonds to stocks. The spread based on the quick close of 3.59% is again closer to the bottom of the comfort zone at 1.44.

Financial Update: Tuesday June 28, 2011

TSX +57.60 to 12,966.49 (CP) after a day of light trading as investors were cautiously optimistic that Greece would pass an austerity bill necessary to prevent default on the country's debt, and amid an announcement that global financial regulators plan to increase the capitalization requirements for leading lenders.

DOW +108.98 to 12,043.56 bounced back over 12,000 despite May data that showed Americans spent at the weakest pace in 20 months.

Dollar +.03c to 101.35c USD closed slightly higher against the U.S. dollar as investors traded cautiously ahead of a crucial vote on Greek austerity measures that could help contain the spread of a debt crisis to other European countries.

Oil -$.55 to $90.61USD per barrel.

Gold -$4.50 to $1496.40 per ounce.

Canadian 5 yr bond yields markets +.01bps to 2.059.  The spread (based on the MERIX 5 yr rate published rate of 3.79%) is above the comfort zone at 1.74. The spread based on the quick close of 3.59% is also high in the comfort zone at 1.54.

Financial Update: Monday June 27, 2011

TSX -70.69 to 12,908.89 as energy stocks continued to retreat and tech companies sold off in the wake of a pair of earnings disappointments. The possibility of a default by Greece on its massive debts also pressured markets. The International Monetary Fund reached a final deal with the Greek government on euro 28 billion worth of new austerity measures, however the measures have to be passed by the Greek Parliament during a vote on Tuesday for the bailout funds to be released.

DOW -115.42 to 11,934.58 below the 12,000 benchmark.

Dollar -.93c to 101.32c USD as the greenback gained strength during the morning as nervous investors bought up U.S. Treasurys.

Oil +$.14 to $91.16USD per barrel.

Gold -$19.60 to $1500.90 per ounce after a stronger U.S. dollar helped push gold down.

Canadian 5 yr bond yields markets -.06bps to 2.04.  The spread (based on the MERIX 5 yr rate published rate of 3.79%) is above the comfort zone at 1.75. The spread based on the quick close of 3.59% is also high in the comfort zone at 1.55.