Wednesday’s action saw the S&P 500 down 0.6% while Toronto was up 0.1%.
Let’s see, oil is at $83 which is solidly profitable for the oil companies while not too hard on the consumer. (I mean it could be a lot worse for consumers, $120 oil is not out of the question).
The five year government bond yield at 3.76% is still saying “don’t held your breath” when it comes to interest rate declines. A very well known political advisor and campaign manager)to Bill Clinton in 1990 said in his next life he might like to come back as “the bond market” because then you can intimate anyone. That was very very true in the ’80’s and ’90’s. Then the bond market went pretty docile for 25 years (with a temporary fit of anger around the year 2008 especially if you were Greece). Now its loins are stirring again.
Looking at individual stocks:
Perennial loser Andrew Peller was down 4.75% but on small volume.
No other particularly notable moves. I’ll be looking at Enbridge tomorrow.