GDP jumps, signs point to a stronger than expected Canadian economy in 2011...
GDP figures come one day ahead of a scheduled Bank of Canada policy announcement, but analysts see little chance of the central bank raising interest rates on this morning
· TSX +84.37 to 14,136.50 (Reuters)as traders took in a multibillion-dollar offer for a Canadian miner and a Statistics Canada report that showed the economy grew faster than expected in December.
· DOW +95.89 to 12,226.34
· Dollar +.76c to 102.94c USD jumped higher against the greenback, to hit a 3 year high not seen since Nov 2007, after fourth-quarter GDP data topped expectations and backed predictions that the Bank of Canada will resume interest rate hikes in the first half of the year.
· Oil -$.91 to $96.97 USD per barrel on reports that Libya was still exporting oil. Shipments were thought to have halted last week as protesters clashed with government supporters and strongman Moammar Gadhafi lost control over many of the country's oil fields. But industry officials said Monday that a tanker bound for China was loading oil in the Libyan port of Tobruk. Saudi Arabia also was boosting exports.
· Gold +$.60 to $1409.90 per ounce.
· Canadian 5 yr bond yields +.05bps to 2.63. The spread (based on the MERIX 5 yr rate published rate of 4.14%) is now at the top of the comfort zone at 1.51.
(courtesy of Barb Morgan, DBD Ontario Southwest)
