Warren Buffett optimistic about U.S. future: “a housing recovery will likely begin within the next year”
Bank of Canada meets Tuesday and is widely expected to keep rates unchanged: "...the attention is going to turn to whether they drop any hints or start to sound a bit more upbeat and I think they will allow that the economic environment has improved a bit in the last couple of months.
· TSX +184.82 to 14,052.13 (Reuters) surged above 14,000 again as investors bought stocks across the board following steep declines earlier in the week over worries that high oil prices resulting from anti-government protests in Libya could derail the economic recovery. But sizable declines in the market have been met by investors buying into the dips amid strong economic data and corporate earnings.
· DOW +61.95 to 12,130.45.
· Dollar +.47c to 102.18c USD jumped higher against the greenback, to a three-year high.
· Oil +$.60 to $97.88 USD per barrel prices continued to be volatile as oil jumped over eight per cent in the last week amid investor concern that the recent wave of unrest in the Middle East and North Africa could affect other oil-rich countries in the region.
· Gold -$6.50 to $1409.30 per ounce.
· Canadian 5 yr bond yields -.02bps to 2.58. The spread (based on the MERIX 5 yr rate published rate of 4.14%) is now above the comfort zone at 1.56. No fear of rates going up with these spreads.
