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Market Commentary

Market continued to bleed away yesterday on VERY light volume.  A surprising lack of interest in bonds at all and very little data have led to light bidding and rising yields all week.  This has let the employment numbers from Friday continue to spook the market.


Well this morning, advanced retail sales out of the US came in light, so the teeter-totter of economic releases has fallen back toward economic weakness and the market is trading higher this morning.  This despite Canadian motor vehicle sales being up (generally an unreliable number, what with the Auto co's incentives as of late)


You'll notice the FI snapshot's mix of green and red numbers (signifying bond positive and bond negative Econ news) have been so mixed up lately you'd think it was Christmas.  This explains our up and down market.  The economy is still at a very important point, and it remains to be seen if we will continue the expansion or if a slow-down is underway.


CAD$ is holding it's recent US$ strength.  Positive numbers here and neg is the US will have that effect.  Don't be fooled...We are actually weaker vs. the rest of the world.


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