On Thursday, the S&P 500 was down 0.9% and Toronto was down 0.4%.
Earlier hopes that the end of the hikes in U.S. interest rates was very near have begun to fade. Long-term interest rates have edged up after having declined in recent months.
Cameco was up 4.6% after posting Q4 results and after announcing it has a deal to supply uranium to Ukraine nuclear plants.
With short term interest rates up so much in the past year it’s now definitely worth it to put cash in your brokerage account into a daily high-interest account if your broker offers one. For TD I use TDB8150 now paying 4.05%. And on U.S. dollars TDB8152 is paying 4.15%. See near the bottom of the Subscriber Home page for a list of symbols for other big bank brokers and a few smaller brokers. With TD, money that I have in these accounts is available instantly for buying stocks or whatever. I just have to place an order to sell the high-interest rate investment right after I place a stock buy order. And I understand that there is no penalty even if the money is only in these accounts for a day or so. I never bothered with TDB 8150 when the rate got down close to zero. But it’s worthwhile at this point. With TD you buy TDB8150 under the mutual fund category even though it is in fact a bank account.
Until recently TD Waterhouse was even offering high interest accounts from competitor banks. But last March a new rule came in that prevents the brokers from collecting the small trailer fees on these accounts so the competitor versions are no longer offered. I’m surprised that the bank brokers offer such a relatively high interest rate on these products.