On Monday the S&P 500 fell 0.1% and Toronto was down 1.0%.
Hopes for an imminent decrease in interest rates were further dashed by comments that the FED chair made in a television appearance on 60 minutes.
The yield on the five year government of Canada bond rose about 13 basis points to about 3.6% Despite that, mortgage rates in Canada edged down. That may be be due to stiff competition between banks and may not last if that 5 year bond rate keeps increasing.
Most of the stocks on our list were down today.
It’s not surprising to see stocks come down a little after all the recent gains. So far the North American markets are ignoring the war in the Middle East. That could change.
I see news that the Chinese stock market was down 8% today. That may not have much relevance for North America but it does not seem like good news at all.