June 17, 2019

On Monday, the S&P 500 was up 0.1% and Toronto up 0.3%.

CRH Medical was up 3.1%. Couche-Tard was up 1.9% as it has continued to make new highs this year.

There are more signs of lower interest rates. RBC lowered its posted rate for a 5 year fixed rate mortgage. Checking with TD Bank, their posted five year mortgage rate is 5.34% but their actual rate offered is far lower at 2.86%. I had been expecting TD to lower the rate on their investment savings account that can can be used within a self-directed account (TDB 8150). I notice today the rate is 1.6% whereas it had been 1.75% for for quite a few months. The rate on the five year government of Canada bond is down to 1.34% which is considerably lower than the 2.4% level of last Summer. Various rate reset preferred shares have declined in price to yield in the 6% range. I would think that at some point the market might decide that 5 and 6% is quite attractive if rates are once again headed down.

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