No new jobs created in March as robust economic growth shows signs of slowing...
However, the 92,000 lost part time jobs were replaced by 90,000 full time jobs, so Canadians are obtaining better quality of work.
Escaping from mortgage prison...
In the U.S. there are less consequences when posing the ethical question of when or if it’s ever ok to walk away from your mortgage.
· TSX +100.66 to 14,208.43 amid rising oil and mining stocks as a weak American currency helped send oil prices surging and gold to fresh record highs. Canada Mortgage and Housing Corp. said that the seasonally adjusted annual rate of housing starts for all types of housing rose to 188,800 units nationally in March, due to multiple dwelling starts in urban areas and single-unit starts in rural areas.
· DOW -29.44 to 12,380.05 as President Barack Obama and congressional leaders tried to avert a government shutdown that all sides say would inconvenience millions of people and damage the economy
· Dollar +.12c to 104.45c USD after earlier rising to almost 105 cents — its highest in 3 1/2 years and despite a weaker than expected employment report for March. The central bank is widely expected to leave its key interest rate unchanged Tuesday at one per cent and traders will be interested to see the bank's take on how the higher loonie is affecting the economy
· Oil +$2.49 to $112.79USD per barrel
· Gold +$14.80 to $1474.10 per ounce Gold prices set a another new record high for the fourth time in a week as a week US dollar boosted demand. Silver climbed above $40 an ounce to a 31 year high.
· Canadian 5 yr bond yields markets +.01bps to 2.86. The spread (based on the MERIX 5 yr rate published rate of 4.39%) now has lots of room at the top of the comfort zone at 1.53.
(courtesy of Barb Morgan, DBD Ontario Southwest)
