Canada to lead G7 in growth and the recovery is becoming self-sustained...
* TSX +52.18 to 14,270.53 As record high bullion prices lifted gold stocks and other mining stocks shook off early losses amid China's latest move to slow its economy to deal with inflation.
* DOW -6.13 to 12,393.90 New York markets were weak as a key gauge of the U.S. service sector showed a slower pace of expansion in March.
* Dollar +.39c to 103.75c USD.
* Oil -$.13 to $108.34USD per barrel After China said it was raising interest rates again for the 4th time since October to help control inflation. Declining gasoline demand and a rare oil shipment from Libya also pulled crude lower later in the day. Higher interest rates could slow China's economy and shrink its appetite for oil.
* Gold +$19.50 to $1452.50 per ounce Gold prices rose to a new record high as investors looked for safe havens amid worries about risks ranging from political turmoil in Libya and the nuclear crisis in Japan to the threat of sovereign debt default in Europe as Moody’s downgraded Portugals long term credit rating.
* Canadian 5 yr bond yields markets +.04bps to 2.80. The spread (based on the NEW MERIX 5 yr rate published rate of 4.39%) now has lots of room above the comfort zone at 1.59.
(courtesy of Barb Morgan, DBD Ontario Southwest)
