May 31, 2012

    US Data Misses

    By / May 31, 2012

    Market Comment Equity markets are calm this morning after selling off nearly 1.5% yesterday. Risk aversion continues to be evident in credit markets; 10-year US Treasury yields are under 1.6%, a new record low yield. Weak US Data US weekly unemployment claims and the ADP non-farm employment change report both posted big negative surprises. Weekly unemployment claims rose to 383K from 373K, well above the expected release of 369K; 20 of the previous 23 week’s… Read more

    China Says No To Stimulus

    By / May 30, 2012

    Market Comment The US Dollar is back on the rise following China’s announcement that they have no plan to introduce a stimulus package to spur economic growth. As a result; risk aversion has safe-haven assets on the rise today: USD, JPY, & US Treasuries. Troubles in Spain Accelerate Spain’s economic woes remain in the spotlight as we progress through the week. Spanish credit default swaps rose to their highest level of 571 basis points. Meanwhile,… Read more

    Quiet Fundamentals, Ongoing Uncertainty in Europe

    By / May 29, 2012

    Market Comment Markets were quiet overnight and into the opening bell as France, Germany and the US return from their respective holidays. The Canadian dollar is trading a mere 25 basis points stronger against the USD. Were Greece to have an election tomorrow, the pro-Euro New Democrats would win by a small margin, according to current polls. However, that has not stopped Greek citizens from wiring Euro’s out of Greek banks to protect themselves from… Read more

    Catalonia Joins the Fray

    By / May 25, 2012

    Market Comment The Canadian dollar is again trading at its weakest level for 2012 against the USD as European risks and the need for more than a temporary solution weigh markets. The Euro is trading at the weakest level in years against both the USD and CAD, save for one small spike last week. Hat in Hand in Catalonia Spain’s wealthiest autonomous region, Catalonia, is now approaching the government, pleading for financial support from the… Read more

    European Contagion

    By / May 24, 2012

    Market Comment Markets have gained slightly overnight as investors seem content to continue the yo-yo action we have had as of late. Equity futures are positive while Crude and Gold have regained 1.5%; the Loonie has risen by 25 basis points against the USD. EU Challenges Actions in Europe are beginning to take more of a bipolar appearance today: EU leaders are urging Greece to remain in the EMU while they prepare an action plan… Read more

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