December 22, 2017 Newsletter

Dear Friends,

Tangents: Happy Friday!

On this day in 1956, a western lowland gorilla is born at the Columbus Zoo in Ohio, becoming the first-ever gorilla born
in captivity.  She is named Colo, a combination of Columbus and Ohio.
Also, on December 22^nd in 2005, astronomers announced the discovery of two more rings and two new moons encircling the planet Uranus.
Ralph Fiennes, actor, b. 1962.
Diane Sawyer, journalist, b. 1946
Giacomo Puccini, composer, b. 1858
Lady Bird Johnson, 1^st Lady, b.1912  (We recently went to see the movie Lady Bird that is currently playing in cinemas and absolutely loved it!  The acting is awesome –  Saoirse Ronan and Laurie Metcalfe give truly brilliant performances – one of the best films of the year).

THE HOLLY  AND  THE  IVY
The holly and the ivy,
When they are both full grown,
Of all the trees that are in the wood,
Th holly bears the crown.
                ~Old French Carol

Holly has had special meaning for thousands of years, each culture adding its layer of significance.  The Druids saw holly and ivy as female and male – holly represented the Goddess, with her red berries standing for the blood of fertility.  Ivy was her consort.  The Romans thought Saturn gave them holly and the plant figured heavily in the sensual and wild Saturnalia festival honoring the god.  Holly is linked to Christmas in a couple of ways.  Early Christians, wishing to avoid Roman persecution, decorated their houses with holly in mid-December during Saturnalia.  As the number of Christians increased, holly became associated with the Christmas season.  Another connection is that holly was said to have been woven into Christ’s crown of thorns.
   But holly’s natural characteristic of evergreen cheerfulness and festive berries simply make it an apt symbol for celebration, especially in the dark of winter.  Its upright growth and deep reaching roots speak to strength and goodness.  In the Bach Flower remedy pharmacopeia, holly is given to heal the inner soul and stimulate our basic loving nature.
For more information on Christmas and the other Winter Holidays, see www.holidays.net.

Enjoy the holidays!

VERILY, GREAT GRACE MAY GO WITH A LITTLE GIFT; AND PRECIOUS ARE ALL THINGS THAT COME FROM FRIENDS. -THEOCRITUS.

May Peace be your gift at Christmas and your blessing all year through.
PHOTOS OF THE DAY

A police officer looks at Greg Knight MP arriving in Downing Street, London, in a 1961 Sunbeam Rapier car.

A thick mist rolls over Edinburgh, Scotland.

Artists from Stroud in traditional costume celebrate the Winter Solstice Sunrise om Painswick Beacon in Gloucestershire.
Market Closes for December 22^nd, 2017

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Number of the Day
394 days
The longest stretch in history that the S&P 500 or its predecessor hasn’t fallen 5% within any six-month period. The index is on pace to break the record  in early January.
Canada
By Andrew Dunn
     (Bloomberg) — The dollar advanced and U.S. equities were mixed in the last trading session before Christmas, while bitcoin plunged at the close of a tumultuous week for cryptocurrencies.
     With volume running about 25 percent below average, the S&P 500 Index was little changed as declines in consumer, health- care and financial stocks were countered by real estate and energy. Bitcoin’s slump entered a fourth day, with the digital currency enduring its worst week since January 2015. Chipmakers were among the biggest decliners in the S&P.
     Reports showed U.S. consumer spending rose more than forecast in November and an inflation gauge advanced, signs of economic vitality that should keep the Federal Reserve on track to raise rates in 2018. Although Treasuries stabilized, they were set for the biggest weekly loss since September as investors contemplate prospects for continued growth and reduced central bank stimulus. 
     Catalan separatist parties triumphed in regional elections, reigniting Spain’s political trauma and diverting focus from data on consumer spending, wholesale prices and gross domestic product from France and the Netherlands which underscored the region’s health.
     The Stoxx Europe 600 Index slipped with Spain’s Ibex 35 leading the declines. The country’s bonds also fell along with peripheral European government debt before recovering, while bunds were little changed after a selloff this week drove yields to five-week highs.  
     West Texas oil wavered between gains and losses as U.S. crude stockpiles dropped to their lowest level in more than two years. Copper and gold rose, and the Bloomberg Commodity Index advanced for the eighth straight day.
     Equities in Asia ended largely in the green, with Japan’s Topix Index reaching its highest level since 1991.
      These are the main moves in markets:
                          Stocks
* The S&P 500 Index fell less than 0.05 percent as of 4:03 p.m. New York time.
* The Stoxx Europe 600 Index fell 0.1 percent.
* The U.K.’s FTSE 100 Index declined 0.1 percent.
* Germany’s DAX Index decreased 0.3 percent. 
                          Currencies
* The Bloomberg Dollar Spot Index advanced 0.2 percent.
* The euro decreased 0.2 percent to $1.1856, the first retreat in a week.
* The British pound dipped 0.2 percent to $1.3365.
* The Japanese yen increased less than 0.05 percent to 113.28 per dollar.
                          Bonds
* The yield on 10-year Treasuries dipped less than one basis point to 2.48 percent.
* Germany’s 10-year yield climbed less than one basis point to 0.42 percent.
* Britain’s 10-year yield fell two basis points to 1.241 percent.
* Spain’s 10-year yield gained less than one basis point to 1.472 percent.
                          Commodities
* West Texas Intermediate crude fell 0.1 percent to $58.31 a barrel.
* Gold gained 0.6 percent to $1,274.23 an ounce, the highest in more than two weeks.
* LME copper increased 0.6 percent to $7,125 a metric ton, the highest in more than two months.
* The Bloomberg bitcoin composite fell 6.9 percent to $14,325.
US
By Andrew Dunn
     (Bloomberg) — The dollar advanced and U.S. equities were mixed in the last trading session before Christmas, while bitcoin plunged at the close of a tumultuous week for cryptocurrencies.
     With volume running about 25 percent below average, the S&P 500 Index was little changed as declines in consumer, health- care and financial stocks were countered by real estate and energy. Bitcoin’s slump entered a fourth day, with the digital currency enduring its worst week since January 2015. Chipmakers were among the biggest decliners in the S&P.
     Reports showed U.S. consumer spending rose more than forecast in November and an inflation gauge advanced, signs of economic vitality that should keep the Federal Reserve on track to raise rates in 2018. Although Treasuries stabilized, they were set for the biggest weekly loss since September as investors contemplate prospects for continued growth and reduced central bank stimulus. 
     Catalan separatist parties triumphed in regional elections, reigniting Spain’s political trauma and diverting focus from data on consumer spending, wholesale prices and gross domestic product from France and the Netherlands which underscored the region’s health.
     The Stoxx Europe 600 Index slipped with Spain’s Ibex 35 leading the declines. The country’s bonds also fell along with peripheral European government debt before recovering, while bunds were little changed after a selloff this week drove yields to five-week highs.  
     West Texas oil wavered between gains and losses as U.S. crude stockpiles dropped to their lowest level in more than two years. Copper and gold rose, and the Bloomberg Commodity Index advanced for the eighth straight day.
     Equities in Asia ended largely in the green, with Japan’s Topix Index reaching its highest level since 1991.
     These are the main moves in markets:
                          Stocks
* The S&P 500 Index fell less than 0.05 percent as of 4:03 p.m. New York time.
* The Stoxx Europe 600 Index fell 0.1 percent.
* The U.K.’s FTSE 100 Index declined 0.1 percent.
* Germany’s DAX Index decreased 0.3 percent. 
                         Currencies
* The Bloomberg Dollar Spot Index advanced 0.2 percent.
* The euro decreased 0.2 percent to $1.1856, the first retreat in a week.
* The British pound dipped 0.2 percent to $1.3365.
* The Japanese yen increased less than 0.05 percent to 113.28 per dollar.
                          Bonds
* The yield on 10-year Treasuries dipped less than one basis point to 2.48 percent.
* Germany’s 10-year yield climbed less than one basis point to 0.42 percent.
* Britain’s 10-year yield fell two basis points to 1.241 percent.
* Spain’s 10-year yield gained less than one basis point to 1.472 percent.
                          Commodities
* West Texas Intermediate crude fell 0.1 percent to $58.31 a barrel.
* Gold gained 0.6 percent to $1,274.23 an ounce, the highest in more than two weeks.
* LME copper increased 0.6 percent to $7,125 a metric ton, the highest in more than two months.
* The Bloomberg bitcoin composite fell 6.9 percent to $14,325.

Have a wonderful weekend everyone!

Be magnificent!

As ever,

Carolann

Anyone can hold the helm when the sea is calm.
                                -Publilius Syrus, 85-43 BC

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Portfolio Manager &
Senior Vice-President

Queensbury Securities Inc.,
St. Andrew’s Square,
Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

Tel: 778.430.5808
(C): 250.881.0801
Toll Free: 1.877.430.5895
Fax: 778.430.5828
www.carolannsteinhoff.com