Mind the Gap! Loonie up, price gap growing...
“Canadians should get accustomed to a lofty loonie, and we continue to look for the currency to remain above par through 2012, if not beyond...That will help keep inflation low and interest rates steady"...
· TSX -11.84 to 13,821.80 as investors took some gains off the table after a strong runup in the first quarter of 2011.
· DOW +14.16 to 12,285.15
· Dollar +.28c to 104.19c USD
· Oil +$1.00 to $108.11USD per barrel in the wake of data showing a bigger than expected drop in U.S. gasoline inventories last week.
· Gold +$16.80 to $1472.40 per ounce
· Canadian 5 yr bond yields markets -.01bps to 2.74. The spread (based on the MERIX 5 yr rate published rate of 4.39%) is back over the top of the comfort zone at 1.65.
(courtesy of Barb Morgan, DBD Ontario Southwest)
