CMHC fires back at critics...
“Most importantly, the Canadian model withstood the test of the economic downturn, when housing markets in the U.S., United Kingdom, and Ireland failed...Simply put, CMHC felt it was important to have a discussion based on factual information.”
· TSX +144.01 to 13,910.77 surged one per cent as strong Chinese economic data helped push copper prices to a fresh record high.
· DOW -5.07 to 12,268.19 generally weak after U.S. President Barack Obama unveiled budget plans that include tax increases for oil, gas and coal producers, investment managers and U.S.-based multinational corporations. The plan would allow Bush-era tax cuts to expire at the end of 2012 for individuals making more than US$200,000 and married couples making more than US$250,000.
· Dollar -.18c to 101.16c USD as the U.S. dollar continued to strengthen against a number of currencies including the loonie and the euro
· Oil -$.77 to $84.81 USD per barrel
· Gold +$4.70 to $1365.10 per ounce
· Canadian 5 yr bond yields markets up another +.01bps to 2.77. The spread (based on the MERIX 5 yr rate published rate of 4.24%) is in mid comfort zone at 1.47.
(courtesy of Barb Morgan, DBD Ontario Southwest)
