Three million Canadian cash in on home reno tax credit, short of target.
Message heard? Canadian household debt growth slowing -Tal says “new rules will curtail new mortgage credit by between two and three per cent over the next 12 months”.
* TSX +206.12 to 13,465.75 up sharply as commodity prices stabilized and mining and energy stocks made big strides.
* DOW +8.25 to 11,985.44 as investors largely shrugged of weak earnings reports. Instead, investors focused on the Fed announcement and on President Barack Obama 's call to overhaul corporate taxes.
* Dollar +.23c to 100.47c USD as the U.S. dollar weakened against other major currencies after the Federal Reserve announced Wednesday afternoon that it was still concerned about the U.S. economy and planned to hold the line on interests rates for some time to come.
* Oil +$1.14 to $87.33 USD per barrel
* Gold +$.70 to $1333.00 per ounce
Canadian 5 yr bond yields markets +.01bps to 2.56. The spread (based on the NEW MERIX 5 yr rate published rate of 3.99%) is now centred in the comfort zone at 1.43.
(courtesy of Barb Morgan, DBD Ontario Southwest)
