August 27, 2019 Newsletter

Dear Friends,

Tangents:
Want to live a long, long life? Be an optimist 
Positive, upbeat, optimistic thinking can add years to your life. That’s according to a new study which found men and women with the highest levels of optimism had an 11% to 15% longer life span, on average, than those who practiced little positive thinking. The highest scoring optimists also had the greatest odds of living to age 85 or beyond. 
Previous studies of twins have found only about 25% of our optimism is programmed by our genes. The rest is up to us and how we respond to life’s lemons. 
Here’s the even better news: If you tend to be a sourpuss about the stresses in your life, don’t worry. It turns out you can actually train your brain to be more positive. -CNN Health.

1945 American troops began landing in Japan following the surrender of the Japanese government in World War II.   Go to article »

Mother Teresa born 1910.
1979~Lord Mountbatten assassinated.

PHOTOS OF THE DAY

A mill is pictured in the mist in Groningen, Netherlands.
CREDIT: SIESE VEENSTRA/AFP/ GETTY IMAGES

Dancers take a selfie as they wait to perform during the Notting Hill Carnival in West London.
CREDIT: AARON CHOWN/PA

Cavalcade of Minis gather at the BMW Mini plant in Oxford before a cavalcade around part of the Oxford Eastern and Northern bypass to the annual car show in Cutteslowe Park. Georgina Hobbs  from Guildford with a 1978 mini 850 police van at the Cowley works before setting off.
CREDIT: JOHN LAWRENCE

Market Closes for August 27th, 2019

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Libor’s days are numbered.
Canada
By Michael Bellusci
(Bloomberg) — Canadian stocks rose for a second day as gold and silver prices soared amid trade and recession fears. Oil also jumped by more than $1 per barrel. The S&P/TSX Composite Index climbed 0.5% to 16,183.59. Materials and information technology outperformed while cannabis shares lagged. The Horizons Marijuana Life Sciences ETF (HMMJCN) lost 4.1%, down to its lowest since November of 2017. Meanwhile, the gap between Transat’s share price and Air Canada’s takeover bid is sitting at the widest ever — indicating investors aren’t confident the deal will get done.
Stocks
* Silvercorp Metals jumped 11.5%
* Iamgold rose 7.9%
* Acreage Holdings lost 11.4%
* MediPharm Labs fell 8.2%
* Organigram Holdings fell 7.9%
* Canopy Growth dropped 6%
Commodities
* Western Canada Select crude oil traded at a $11.50 discount to WTI
* Gold spot gained 1% to $1,543.09 an ounce
FX/Bonds
* The Canadian dollar fell 0.3% to C$1.3299 per U.S. dollar
* The Canada 10-year government bond yield fell to 1.127%
US
By Randall Jensen and Vildana Hajric
(Bloomberg) — Stocks finished lower after a seesaw session as investors digested the most recent twists in the tumultuous trade talks between the U.S. and China. Treasuries rose, while the dollar was little changed. The S&P 500 fell Tuesday after Chinese officials questioned statements by President Donald Trump about trade discussions between the two countries. Banks led losers as the 10-year Treasury yield fell below 1.50%. Philip Morris International Inc. slid after confirming it was in merger talks with Altria Group Inc. The greenback was steady against major currencies. The euro fell following data showing Germany was on the brink of a recession, while the pound gained as opposition politicians stepped up efforts to prevent a no-deal Brexit. West Texas crude rose to almost $55 a barrel.
Trump’s apparent de-escalation of trade tensions at the G-7 meetings had helped ease investor nerves before Beijing questioned some of those comments. Adding to the uncertainty, Germany offered up fresh evidence that protectionism is weighing on global growth. Volatility remains relatively high as traders reflect on previous periods of calm in the trade war that were quickly ended by surprises. “From Friday to now has been just head-spinning on the trade issue,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “Mid-year, we basically said the trade war needs to get worse before it gets better and there will be a lot of saber-rattling. I think we’re still in the midst of that. I don’t think the president’s recent comments marked the beginning of a solid or consistent trajectory to a resolution here.”
Elsewhere, Hong Kong Chief Executive Carrie Lam said her government can handle unrest without assistance from Chinese forces, and still wants to hold talks with protesters despite a flare-up in violence.
Events to keep an eye on this week:
* The second reading of Q2 U.S. GDP Thursday is expected to refine estimates of slightly lower economic growth.
* Bank of Korea policy decision and briefing is on Friday.
* Euro-zone CPI data for August is also due Friday.

Here are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.3% as of 4:01 p.m. New York time.
* The Stoxx Europe 600 Index increased 0.6%.
* The MSCI Asia Pacific Index advanced 0.6%.
Currencies
* The Bloomberg Dollar Spot Index was little changed.
* The euro fell 0.1% at $1.109.
* The British pound gained 0.6% to $1.2288, the strongest in over a month.
* The Japanese yen increased 0.4% to 105.74 per dollar.
Bonds
* The yield on 10-year Treasuries declined six basis points to 1.47%, a three-year low.
* The yield on two-year Treasuries fell two basis points to 1.52%.
* Germany’s 10-year yield decreased three basis points to -0.69%.
* Britain’s 10-year yield gained two basis points to 0.50%.
Commodities
* Gold advanced 1% to $1,543.08 an ounce.
* West Texas Intermediate crude climbed 2.4% to $54.95 a barrel.
–With assistance from Andreea Papuc and Laura Curtis.

Have a great night.

Be magnificent!
As ever,

Carolann

He that plants trees loves others beside himself.
                            -Thomas Fuller 1654-1734

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

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