Category: Events

Dear Friends,

Tangents:
1963 – Alcatraz prison in San Francisco Bay was emptied of its last inmates.  Go to article »
1965 – Selma, Alabama civil rights march.
1685 –  Johann Sebastien Bach, born.

PHOTOS OF THE DAY

A day-old lamb exploring new surroundings on the vernal equinox, considered the first day of spring at Coombes Farm in Lancing, England. Credit: Andrew Hasson/Getty Images

Interiors of “Under”, a semi-submerged restaurant beneath the waters of the North Atlantic which will be open to public on March 21, 2019 is pictured in Lindesnes, south west of Oslo, Norway. Credit: Scanpix/Tor Erik Schroder via Reuters

Members of the Druid Order take part in a ceremony in Tower Hill to mark Spring Equinox in London, England. Spring Equinox is when the day and night are of equal length and the centre of the visible Sun is directly above the Equator. Credit: Jack Taylor/Getty Images
Market Closes for March 21^st, 2019

Market Index	Close	Change
Dow Jones	25962.51	+216.84   +0.84%
S&P 500	2854.88	+30.65   +1.09%
NASDAQ	7838.961	+109.993   +1.42%
TSX	16244.59	+77.03
		+0.48%

International Markets

Market Index	Close	Change
NIKKEI	21608.92	+42.07
		+0.20%
HANG SENG	29071.56	-249.41
		-0.85%
SENSEX	38386.75	+23.28
		+0.06%
FTSE 100*	7355.31	+64.30
		+0.88%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.667		1.671
CND. 30 Year Bond		1.969		1.986
U.S.    10 Year Bond		2.5369		2.5245
U.S. 30 Year Bond		2.9667		2.9714

Currencies

 

BOC Close	Today	Previous
Canadian $	0.74838	0.75225
US $	1.33623	1.32934
Euro Rate 1 Euro=		Inverse
Canadian $	1.52021	0.65780
US $	1.13769	0.87897

Commodities

Gold	Close	Previous
London Gold Fix	1303.70	1307.70
Oil
WTI Crude Future	59.83	59.83

Market Commentary:
On this day in 1924, the Massachusetts Investors Trust, the first open-end mutual fund—a type of fund that doesn’t have restrictions on the amount of shares the fund can issue—was founded in Boston by Edward G. Leffler, a former aluminum cookware salesman, and investment bankers Hatherly Foster, Jr. and Charles H. Learoyd. The minimum initial purchase of five shares cost $262.50, or $2.50 less than the price of a new Ford Model T runabout.
Canada
By Aoyon Ashraf
     (Bloomberg) — Canadian stocks rose to their highest level since August before paring gains, after two consecutive down days. Information technology and industrial stocks led the way, while pot stocks underperformed.
     The S&P/TSX Composite Index rose 0.5 percent to 16,244.59 on Thursday in Toronto. Boyd Group was the best performing stock, while Martinrea International was the worst. 
     CVS Health Corp. this week will begin selling products infused with the trendy, non-intoxicating hemp component at more than 800 of its stores as part of a distribution deal with marijuana company Curaleaf Holdings Inc., Curaleaf said Wednesday.
In other moves:
Stocks
* Curaleaf soared 32 percent after a partnership with CVS Health
* Boyd Group Income Fund jumped 9.2 percent after 4Q revenue beats highest estimate 
* Crescent Point Energy rose 6.6 percent, extending 2-day rally
* Wheaton Precious Metals rose 5.7 percent on 4Q beat
* Martinrea International fell 3.3 percent, continuing yesterday’s loss
Commodities
* Western Canada Select crude oil traded at a $9.85 discount toWTI
* Gold rose 0.6 percent to $1,315.20 an ounce
FX/Bonds
* The Canadian dollar fell 0.5 percent to C$1.3374 per U.S. dollar
* The Canada 10-year government bond yield fell to 1.668 percent
US
By Reade Pickert and Sarah Ponczek
     (Bloomberg) — U.S. equities reached a five-month high as investors reacted to a dovish lurch by policy makers in the world’s largest economy. The dollar rebounded after a four-day skid, while government bonds stabilized. West Texas crude and gold declined.
     After the Federal Reserve announced yesterday that it had no plans to raise rates in 2019, stocks resumed the year’s upward charge. The S&P 500 Index staged a broad-based advance Thursday that saw tech shares climbing alongside the real estate and consumer sectors. Financials sat out the rally as the yield on 10-year Treasuries came off the lowest level in more than a year after sharp declines Wednesday.
     “It’s a confirmation that the market was right that we didn’t need such aggressive Fed policy,” said Hank Smith, co-chief investment officer at Haverford Trust, which manages $8.5 billion. “The expectation is the Fed is out of the picture for the remainder of the year. That risk, if you want to call it that, is off the table and now we move to trade.”
     Brazil’s Ibovespa stock index retreated and the real sank after former Brazilian president Michel Temer was arrested as part of the “Carwash” corruption probe, clouding the outlook for the government’s key economic reforms.
     Elsewhere, sterling pared its decline after the EU was said to consider giving British Prime Minster Theresa May an unconditional Brexit extension until May 7. The current impasse over her current proposal, so close to the March 29 deadline for the U.K. to exit the bloc, threatens to increase the chances of a no-deal departure. A rate hold by the Bank of England had little impact on the currency.
     On the Stoxx Europe 600, food and beverage shares helped offset a retreat in banks. Asia’s regional index advanced even as Hong Kong stocks fell and Japanese markets shut for a holiday.
These are the main moves in markets:
Stocks
* The S&P 500 Index gained 1.1 percent as of 4:01 p.m. New York time.
* The Dow Jones Industrial Average rose 0.8 percent; the Nasdaq 100 gained 1.5 percent.
* The Stoxx Europe 600 Index fell less than 0.05 percent.
* The U.K.’s FTSE 100 Index gained 0.9 percent.
* Germany’s DAX Index sank 0.5 percent.
* The MSCI Emerging Market Index gained 0.1 percent.
Currencies
* The Bloomberg Dollar Spot Index rose 0.5 percent, the first advance in a week.
* The euro dipped 0.4 percent to $1.1364, the first retreat in a week.
* The British pound decreased 0.8 percent to $1.3096, the weakest in more than a week.
* The Japanese yen fell 0.1 percent to 110.80 per dollar.
Bonds
* The yield on 10-year Treasuries gained one basis point to 2.54 percent.
* Germany’s 10-year yield decreased four basis points to 0.04 percent, the lowest in more than two years.
* Britain’s 10-year yield decreased nine basis points to 1.064 percent, the lowest in more than 18 months.
Commodities
* West Texas Intermediate crude fell 0.7 percent to $59.84 a barrel.
* Gold fell 0.2 percent to $1,309.46 an ounce.
–With assistance from Adam Haigh, David Wilson, Vildana Hajric and Samuel Potter.

Have a great night.

Be magnificent!

As ever,

Carolann

If A is a  success in life, then A equals x plus y plus z.
Work is x; y is play; and z is keeping your mouth shut.
                                    -Albert Einstein, 1879-1955

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

Dear Friends,

Tangents: The first day of Spring is here!

The night sky will shine a little brighter than usual and…
There will be a full moon on Wednesday at 9:43 p.m. ET, just a few hours after the official start of spring. It’s the first time since 1981 that the spring equinox and a full moon coincide on the same day.
This full moon is also extra special because it will be a supermoon. That means the moon will appear larger than normal because of its close proximity to Earth.
The vernal equinox also is the Persian New Year, known as Nowruz (and other spellings). For more than 300 million people worldwide it’s the start of a monthlong celebration of new beginnings.
In Chichen Itza, Mexico, thousands gather at the Kulkulkan pyramid. In the late afternoon, the sun creates a shadow that looks like a snake sliding down the northern staircase.
And in Stonehenge, England, pagans, druids and tourists watch the picturesque sunrise at the prehistoric monument.
Holi, a major festival in India that marks the start of spring, also begins on March 20 this year. During Holi, people come together for song, dance and to splash their loved ones with colored powder and water.  -from CNN.
Purim also begins tonight.

March 20, 1602: Dutch East India Company was established; it lasted for 196 years.
1852: Uncle Tom’s Cabin was published.
PHOTOS OF THE DAY

People celebrate the early stages of Holi festival in Barsana, India. Credit: Antik Sharma/Solent news & Photo Agency

The Flying Scotsman, passes Corfe Castle on the Swanage Railway in Dorset. The locomotive, owned by the National Railway Museum in York, will be on the Purbeck heritage railway for 20 days from Friday, 22 March to Wednedat, 10 April, 2019. Credit: Andrew Matthews/PA Wire

The William II ship passes a wind turbine as it sails along the north east coast near Whitley Bay in Tyne and Wear after it set off from Blyth in Northumberland on a voyage round the coastline of Great Britain calling at 10 ports en route and changing crews at each stage. Credit: Owen Humphreys/PA Wire
Market Closes for March 20^th, 2019

Market Index	Close	Change
Dow Jones	25745.67	-141.71   -0.55%
S&P 500	2824.22	-8.35   -0.29%
NASDAQ	7728.969	+5.023   +0.07%
TSX	16175.06	-13.04
		-0.08%

International Markets

Market Index	Close	Change
NIKKEI	21608.92	+42.07
		+0.20%
HANG SENG	29320.97	-145.31
		-0.49%
SENSEX	38386.75	+23.28
		+0.06%
FTSE 100*	7291.01	-32.99
		-0.45%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.671		1.730
CND. 30 Year Bond		1.986		2.014
U.S.    10 Year Bond		2.5245		2.6159
U.S. 30 Year Bond		2.9714		3.0278

Currencies

BOC Close	Today	Previous
Canadian $	0.75225	0.75036
US $	1.32934	1.33270
Euro Rate 1 Euro=		Inverse
Canadian $	1.51873	0.65845
US $	1.14247	0.87530

Commodities

Gold	Close	Previous
London Gold Fix	1307.70	1305.60
Oil
WTI Crude Future	59.83	59.03

Market Commentary:
On this day in 1929, the most notorious “pool,” or stock manipulation of the 1920s, hit its peak as RCA rose to a new high of $115, or 73 times earnings and 17 times book value. RCA—the dot-com stock of its time—was being bought (and sold short) by such respectable figures as auto maker Walter Chrysler, General Motors executive John J. Raskob and Percy Rockefeller. They got out at the top while most retail investors suffered losses of up to 77% after the bubble burst in the Great Crash.
Canada
By Aoyon Ashraf
     (Bloomberg) — Canadian stocks pared mid-day Fed related gains and closed Wednesday’s session slightly down, along with U.S. stocks. Energy and materials were the best performing sectors, while consumer discretionary was the worst.
     The S&P/TSX Composite Index fell 0.1 percent to 16,167.56. Westshore Terminals was the best performing stock, while BRP Inc was the worst performer.
     Meanwhile, Montreal homes could be the way to play Trudeau’s latest measures to help first-time homebuyers. The new policies could price out much of the Toronto and Vancouver markets. But it could be a big change for more modestly priced markets, including Montreal, Canada’s second-most-populous city.
In other moves:
Stocks
* Westshore Terminals rose 12 percent after 6-day decline
* Canadian energy stocks such Crescent Point Energy, MEG Energy and Nuvista Energy rose after Fed’s dovish stance
* BRP Inc. of Canada fell 3.7 percent. Reports fourth quarter earnings on March 22 
* Franco-Nevada fell 2.1 percent after reporting adjusted EPS that missed estimates on Tuesday afternoon
Commodities
* Western Canada Select crude oil traded at a $10.35 discount to WTI
* Gold futures rose 0.5 percent to $1,313.40 an ounce
FX/Bonds
* The Canadian dollar rose 0.2 percent to C$1.3300 per U.S. dollar
* The Canada 10-year government bond yield fell to 1.670 percent
US
By Vildana Hajric and Sarah Ponczek
     (Bloomberg) — U.S. equities enjoyed a brief recovery, before fading again, after the Federal Reserve signaled it won’t raise rates this year, saying economic growth has slowed. Ten-year Treasury yields headed to their lowest in over a year and the dollar fell.
     The dovish tone of Wednesday’s Fed announcement unleashed a short rally that saw technology shares surge and energy stocks add to gains, lifting the S&P 500 Index out of a session-long funk and pushing the Nasdaq 100 to its highest level since October. But weakness in the financial and health-care sectors left the S&P lower for the day.
     In Europe, a raft of negative corporate news dragged down the Stoxx Europe 600 Index. Germany’s DAX Index led the retreat as BMW AG warned earnings would fall and chemical maker Bayer AG headed for the biggest drop in 15 years after losing the first phase of a U.S. trial over claims its weed killer caused cancer.
     In Asia, Japanese shares finished higher, while most other markets dipped. The pound fell as U.K. Prime Minister Theresa May sought to extend the Brexit deadline, while the opposition called for the public to have the final say over the country’s EU exit. The euro gained after German producer prices missed estimates.
     European sovereign bonds gained. Gold advanced. West Texas crude spiked after an unexpected drop in U.S. oil inventories.
Here are some key events coming up this week:
* Company earnings this week include Tencent, Hermes, Tiffany, Micron, Nike and PetroChina.
* Central banks in the U.K., the Philippines and Indonesia are all scheduled for policy meetings.
* Euro-zone purchasing manager survey numbers on Friday will give an indication of the health of the region’s industrial and service sectors.
And these are the main moves in markets:
Stocks
* The S&P 500 Index fell 0.3 percent as of 4:01 p.m. New York time.
* The Stoxx Europe 600 Index declined 0.9 percent.
* The U.K.’s FTSE 100 Index fell 0.5 percent.
* The DAX Index sank 1.6 percent, its biggest tumble in almost six weeks.
* The MSCI Emerging Market Index gained less than 0.05 percent.
Currencies
* The Bloomberg Dollar Spot Index fell 0.5 percent to a six-week low.
* The euro advanced 0.7 percent to $1.1433, the strongest in over six weeks.
* The British pound sank 0.5 percent to $1.3203.
* The Japanese yen climbed 0.7 percent to 110.62 per dollar.
Bonds
* The yield on 10-year Treasuries decreased eight basis points to 2.53 percent, a 14-month low.
* Germany’s 10-year yield declined one basis point to 0.08 percent.
* Britain’s 10-year yield dipped three basis points to 1.157 percent.
Commodities
* West Texas Intermediate crude gained 1.4 percent to $59.83 a barrel, a four-month high.
* Gold rose 0.6 percent to $1,314.14 an ounce.
–With assistance from Adam Haigh, Charlotte Ryan, Eddie van der Walt, Luke Kawa and Reade Pickert.

Have a great night.

Be magnificent!

As ever,

Carolann

Let us be grateful to people who make us happy:
They are the charming gardeners who make our souls blossom.
                                                  -Marcel Proust, 1871-1922

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

Dear Friends,

Tangents:

On March 19, 2003, President George W. Bush ordered the start of the war on Iraq, declaring: “On my orders, coalition forces have begun striking selected targets of military importance to undermine Saddam Hussein’s ability to wage war.” Go to article »

On March 19, 1619, John Chamberlain wrote to Dudley Carleton: We have every week almost a new proclamation for somewhat or other, as for buildings (forward and backward), for weights and measures, for inns and alehouses, for horse meat, and I know not what else, all for the good of the subject, and yet they either believe it not or will not acknowledge the good pretended.
 The Queen’s funeral is put off till the 29^th of the next month, to the great hindrance of our players, which are forbidden to play so long as her body is above ground.  One special man among them, Burbage, is lately dead, and hath left they say better than 300 land.
The Queen was Anne of Denmark, consort of James I; Richard Burbage was the first performer of many of Shakespeare’s greatest roles. 

PHOTOS OF THE DAY

Tens of thousands of starlings perform their nightly balletic murmurations in the sky above Aberystwyth as the day draws to an end. Aberystwyth, UK, is one of the few urban roosts in the country and draws people from all over the UK to witness the spectacular nightly displays between October and March. CREDIT: KEITH MORRIS/LNP

Members of the press walk around a new installation by British Artist Mike Nelson at Tate British in London, England. The pieces form part of the exhibition Asset Strippers, pointing at the decline of British Industry, and will be on show until October 6, 2019. CREDIT: DAN KITWOOD/GETTY IMAGES

A horse and an artist perform during a show “ Cavalluna, World of Fantasy”, in Brussels, Belgium. CREDIT: REUTERS/YVES HERMAN
Market Closes for March 19^th, 2019

Market Index	Close	Change
Dow Jones	25887.38	-26.72    -0.10%
S&P 500	2832.57	-0.37   -0.01%
NASDAQ	7723.945	+9.467   +0.12%
TSX	16188.10	-63.27
		-0.39%

International Markets

Market Index	Close	Change
NIKKEI	21566.85	-17.65
		-0.08%
HANG SENG	29466.28	+57.27
		+0.19%
SENSEX	38363.47	+268.40
		+0.70%
FTSE 100*	7324.00	+24.81
		+0.34%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.730		1.714
CND. 30 Year Bond		2.014		2.015
U.S.    10 Year Bond		2.6159		2.6015
U.S. 30 Year Bond		3.0278		3.0143

Currencies

BOC Close	Today	Previous
Canadian $	0.75036	0.74982
US $	1.33270	1.33366
Euro Rate 1 Euro=		Inverse
Canadian $	1.51293	0.66097
US $	1.13524	0.88087

Commodities

Gold	Close	Previous
London Gold Fix	1305.60	1303.50
Oil
WTI Crude Future	59.03	59.09

Market Commentary:
On this day in 1792, Wall Street crashed for the first time ever, on “Black Monday,” as 6% Treasury bonds lost 10% of their value and shares in the Bank of the United States dropped 12%. Speculator William Duer, a friend of Alexander Hamilton, had borrowed too much money and was about to be thrown in debtors’ prison, spreading panic through the cobblestone streets of downtown Manhattan.
Canada
By Aoyon Ashraf
     (Bloomberg) — Canadian stocks gave back earlier gains, even as Marijuana stocks continued their rally with Tilray Inc. beating sales estimates. Canada forecast 2019-2020 budget deficit of C$19.8 billion, however, Loonie hasn’t reacted to the news, and it likely won’t move the needle for Bank of Canada.
     The S&P/TSX Composite Index fell 0.4 percent to 16,188.10 on Tuesday. Pot stocks jumped and the Horizons Marijuana Life Sciences Index ETF advanced to its highest intraday since October 19. Utilities underperformed, weighed down by Northland Power Inc., which reported a secondary offering of shares.
     Further on Budget, Canada’s housing agency will spend up to C$1.25 billion ($943 million) over three years to take equity positions in homes purchased by first-time buyers, part of a plan by Justin Trudeau’s government to make entering the property market more affordable for the youngest voters.
     In other moves:
Stocks
* Maple Leaf Foods Inc. gained 7.3 percent after being upgraded at TD Securities
* Hexo Corp. continued Monday’s climb after being upgraded to buy at Cormark Securities
* Bausch Health rose 6.8 percent, to highest levels since Nov. 14, 2018
* Northland Power Inc. fell 9.3 percent after the company announced that Northland Power Holdings Inc. has entered into an agreement with Northland and a syndicate of underwriters led by CIBC Capital Markets
* Badger Daylighting fell 3.6 percent after 4-day gain
Commodities
* Western Canada Select crude oil traded at a $10.50 discount to WTI
* Gold gained 0.4 percent to $1,306.40 an ounce FX/Bonds
* The Canadian dollar strengthened 0.2 percent to C$1.3312 per U.S. dollar
* The Canada 10-year government bond yield rose to 1.724 percent
US
By Sarah Ponczek and Reade Pickert
    (Bloomberg) — A rally in equities sputtered out after a report that U.S. and Chinese negotiators remain at odds on aspects of their current trade talks. Treasury yields narrowed and Texas crude declined.
     The S&P 500 Index ended the session little changed Tuesday on word that Trump administration officials are concerned that China is pushing back against U.S. demands. Earlier in the session, the benchmark had topped 2,850 for the first time since October.
The trade news threatens to overshadow other developments investors have been watching this week, including a rate announcement from the Federal Reserve and the latest chapter in the Brexit saga. The Fed’s dovish shift in recent months has helped reignite a global equity rally on bets that policy makers will act to support growth.
    “The markets have priced in the trade-war resolution, so if there’s any chance this gets extended, delayed or changed, this causes markets to be jittery,’’ said Gene Goldman, chief investment officer at Cetera Investment Management. “Markets are pricing in perfection right now, again this goes back to ‘buy the rumor, sell the news.’’’
     Earlier, the Stoxx Europe 600 Index advanced after a quiet start, while equities posted modest losses in Japan, China and Australia, but rose in Hong Kong and India. The pound gained on word that European Union leaders are planning to offer the U.K. a conditional Brexit extension at this week’s summit in Brussels, giving Prime Minister Theresa May one more chance to get her deal through Parliament. The euro extended an advance after data showed German investor confidence rose for a fifth straight month. 
    The Bank of England also meets this week, though given the backdrop of Brexit uncertainty investors see little chance of a policy shift. In Asia, central banks in Indonesia, the Philippines and Thailand hold meetings amid expectations they too will stand pat. Policy makers could signal some willingness to cut in coming months as low inflation sweeps across the region.
Elsewhere, West Texas crude fell. Gold gained.
Here are some key events coming up this week:
* Company earnings this week include FedEx, Tencent, Hermes, Tiffany, Micron, Nike and PetroChina.
* On Wednesday the Fed is expected to hold interest rates steady, announce plans for the end of asset roll-off from its balance sheet, and lower projections for the number of interest- rate hikes this year.
* Central banks in the U.K., Thailand, the Philippines and Indonesia are all scheduled for policy meetings.
* Euro zone purchasing manager survey numbers on Friday will give an indication of the health of the region’s industrial and service sectors.
And 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 jumped 0.6 percent.
* The U.K.’s FTSE 100 Index climbed 0.3 percent.
* The MSCI Emerging Market Index gained 0.1 percent to the highest in more than seven months.
Currencies
* The Bloomberg Dollar Spot Index fell 0.1 percent to the lowest in almost three weeks.
* The euro climbed 0.2 percent to $1.1359, the strongest in more than two weeks.
* The British pound rose 0.1 percent to $1.3272.
* The Japanese yen climbed 0.1 percent to 111.39 per dollar.
Bonds
* The yield on 10-year Treasuries gained one basis point to 2.61 percent.
* Germany’s 10-year yield rose one basis point to 0.10 percent, the highest in almost two weeks.
* Britain’s 10-year yield decreased one basis point to 1.186 percent.
Commodities
* West Texas Intermediate crude fell 0.4 percent to $58.83 a barrel.
* Gold gained 0.2 percent to $1,306.57 an ounce.
–With assistance from Divya Balji, Cormac Mullen, Andreea Papuc, Samuel Potter and Vildana Hajric.

Have a great night.

Be magnificent!

As ever,

Carolann

You will never win if you never begin.
           -Helen Rowland, 1918-1978

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

Dear Friends,

Tangents:
On March 18, 1965, the first spacewalk took place as Soviet cosmonaut Aleksei Leonov left his Voskhod 2 capsule and remained outside the spacecraft for 20 minutes, secured by a tether. 
Go to article »
1931- Electric razor debuted.
1932 – John Updike, writer, born.
PHOTOS OF THE DAY

The awe-inspiring aerial photos of the 11-mile long and five-mile-wide iceberg. A national Geographic Explorer says an iceberg the size of Bristol floating in waters off the Antarctic coast signals a “ warning disaster”. American explorer, Adam Cropp, 34, has captured awe-inspiring aerial photos of the 11-milelong and five-mile-wide iceberg that has broken off a glacier. He says the moment he first saw the iceberg was one of the “ most amazing experiences” of his life. The iceberg was first spotted by Royal Navy Antarctic patrol ship- the HMS Protector- during her final scientific mission to the Southern Hemisphere. The ship, based in Plymouth, Devon, was heading for Deception Island during her survey of the South Shetland Island. These new photos, taken by US explorer, Adam, expedition leader for National Geographic Expeditions, says seeing icebergs of this size are becoming “all to common”. CREDIT: ADAM CROPP/SWNS

A reveller poses with a policewoman in Dublin, Ireland. CREDIT: CHARLES MCQUILLAN/GETTY IMAGES

Nelson’s Column in Trafalgar Square London is lit green by Tourism Ireland to celebrate St Patrick’s Day. This year celebrates the 10^th year of Tourism Ireland’s Global Greenings’ and landmarks have been illuminated green across great British, with 430 sites in total around the world. CREDIT: DAVID PARRY/PA
Market Closes for March 18^th, 2019

Market Index	Close	Change
Dow Jones	25914.10	+65.23   +0.25%
S&P 500	2832.94	+10.46   +0.37%
NASDAQ	7714.477	+25.950   +0.34%
TSX	16251.37	+111.02
		+0.69%

International Markets

Market Index	Close	Change
NIKKEI	21584.50	+133.65
		+0.62%
HANG SENG	29409.01	+396.75
		+1.37%
SENSEX	38095.07	+70.75
		+0.19%
FTSE 100*	7299.19	+70.91
		+0.98%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.714		1.717
CND. 30 Year Bond		2.015		2.023
U.S.    10 Year Bond		2.6015		2.5907
U.S. 30 Year Bond		3.0143		3.0166

Currencies

BOC Close	Today	Previous
Canadian $	0.74982	0.75021
US $	1.33366	1.33296
Euro Rate 1 Euro=		Inverse
Canadian $	1.51232	0.66123
US $	1.13396	0.88187

Commodities

Gold	Close	Previous
London Gold Fix	1303.50	1295.55
Oil
WTI Crude Future	59.09	58.52

Market Commentary:
On this day in 1850, Henry Wells, William G. Fargo, and John Butterfield met in Buffalo, N.Y., to join their separate companies—Wells & Co., Livingston, Fargo & Co. and Butterfield and Watson—into a single firm with a monopoly over express shipping in the Northeast. They capitalized their American Express with $150,000 in stock. At first, AmEx specialized in shipping small valuables such as bond certificates, currency and financial contracts, plus live poultry, pianos and firecrackers.
Canada
By Michael Bellusci
     (Bloomberg) — Canadian stocks were buoyed Monday by marijuana and energy stocks, while U.S. equity benchmarks pushedhigher at the start of a week filled with potentially significant catalysts.
     The S&P/TSX Composite Index rose 0.7 percent to 16,251.37. Pot names jumped and the Horizons Marijuana Life Sciences Index ETF advanced 2.8 percent. Energy also climbed as oil hit a high for the year.
     On the political front, Michael Wernick announced his retirement Monday as clerk of the privy council, the highest-ranking position in Canada’s civil service and a key aide to Prime Minister Justin Trudeau.
In other moves:
Stocks
* Harvest One Cannabis Inc. jumped 25 percent after entering a supply pact with Shopper Drug Mart 
* Westhaven Ventures Inc. gained 20 percent after drill results
* Village Farms International Inc. rose 13 percent to a record high close
* Frontera Energy Corp. lost 6.7 percent after being downgraded to hold at Canaccord 
* Semafo Inc. dropped 3.1 percent
Commodities
* Western Canada Select crude oil traded at a $10 discount to WTI
* Gold dropped 0.04 percent to $1,302.40 an ounce
FX/Bonds
* The Canadian dollar fell 0.1 percent to C$1.3343 per U.S. dollar
* The Canada 10-year government bond yield fell to 1.715 percent
US
By Reade Pickert and Vildana Hajric
     (Bloomberg) — U.S. equity benchmarks rose at the start of a week filled with potentially significant catalysts — from central bank meetings, geopolitical developments and economic data. Treasuries fluctuated and the dollar slipped.
     After a 2.9 percent gain last week, the S&P 500 Index climbed Monday to a five-month high as rising oil prices fueled an advance in energy shares. Financials and consumer stocks also advanced, while the Dow Jones Industrial Average fought to stay positive even as Boeing declined on reports that the U.S. Transportation Department was examining the 737 Max’s design certification.
     Equities have been trending upward, and volatility declining, on expectations the Fed will point the way to just one rate hike in 2019 when it meets this week. Other central bank gatherings, including at the Bank of England, will give further clues on monetary policy. In politics, the British pound fell after the speaker of Parliament blocked a bid by Prime Minister Theresa May to put her current Brexit plan up for another vote.
     European stocks nudged up, led by miners and lenders as Deutsche Bank and Commerzbank got the green light to proceed with negotiations on a tie-up. In Asia, Chinese and Hong Kong shares led the advance.
     West Texas crude pushed toward a four-month high as OPEC and its allies recommended deferring a decision on whether to extend oil production cuts until June. Emerging-market shares climbed, and Brazil’s equity benchmark Ibovespa touched a new high on expectations that an overhaul in the country’s social security system will be approved.
Here are some key events coming up:
* Company earnings include FedEx, China Telecom, Tencent, Porsche, BMW, Hermes, Tiffany, Micron, Nike and PetroChina.
* The Fed is expected to hold interest rates steady, announce the end of asset roll-off from its balance sheet, and lower projections for the number of interest-rate hikes this year. The decision is due Wednesday. 
* Central banks in Thailand, the Philippines and Indonesia are all scheduled for policy meetings.
* In the euro zone, purchasing manager survey numbers on Friday will give an indication of the health of the region’s industrial and service sectors at the end of the first quarter. 
These are the main moves in markets:
Stocks
* The S&P 500 Index advanced 0.4 percent as of 4 p.m. New York time to the highest in over four months.
* The Stoxx Europe 600 Index climbed 0.3 percent.
* The U.K.’s FTSE 100 Index gained 1 percent.
* Germany’s DAX Index declined 0.2 percent.
* The MSCI Emerging Market Index advanced 1.2 percent to the highest in almost seven months.
Currencies
* The Bloomberg Dollar Spot Index declined 0.1 percent.
* The euro gained 0.1 percent to $1.1341, the strongest in two weeks.
* The British pound dipped 0.3 percent to $1.3256.
* The Japanese yen rose 0.1 percent to 111.40 per dollar.
Bonds
* The yield on 10-year Treasuries increased one basis point to 2.60 percent.
* Germany’s 10-year yield fell less than one basis point to 0.08 percent.
* Britain’s 10-year yield fell two basis points to 1.196 percent.
Commodities
* West Texas Intermediate crude advanced 0.8 percent to $58.99 a barrel, a four-month high.
* Gold climbed 0.1 percent to $1,303.30 an ounce.
–With assistance from Sophie Caronello, Adam Haigh, Yakob Peterseil and Sarah Ponczek.

Have a great night.

Be magnificent!

As ever,

Carolann

The journey is the reward.
                     -Tao Saying.

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

Dear Friends,

Tangents: Happy Friday!
The Ides of March
Beware the Ides of March ~ Said as a warning of impending and certain danger.  The allusion is to the warning received by Julius Caesar before his assassination:
What is still more extraordinary, many report that a certain soothsayer forewarned him of a great danger which threatened him on the Ides of March, and that when the day was come, as he was going to the senate-house, he called to the soothsayer, and said, laughing, “The Ides of March are come,” to which he answered softly, “Yes , but they are not gone.”
Plutarch, Julius Caesar (Langhorne Translation), 2^nd century AD.
In the ancient Roman calendar, the 15^th day of March, May, July and October, and the 13^th day of all the other months.  The day always fell eight days after the Nones. – from Brewer’s.

44 BC –  Julius Caesar d.
1917 – Czar Nicholas II of Russia abdicates his throne.
1972 – “The Godfather,” Francis Ford Coppola’s epic gangster movie based on the Mario Puzo novel and starring Marlon Brando and Al Pacino, premiered in New York.  Go to article »

PHOTOS OF THE DAY

A man holds a handful of vermilion powder as he gets ready to throw it to mark the commencement of Holi in Kathmandu. Credit: Reuters/Navesh Chitrakar

Girls of She ethnic group and Yao ethnic group hang strings of windbells above the 140-meter-long glass bridge to welcome tourists at Jiulong River National Park, Chenzhou, China. Credit: Yang Huafeng/China News Service/VCG via Getty Images

Ten year old Olympic skateboarder, Sky Brown skates in London, UK. Credit: Paul Cooper for the Telegraph
Market Closes for March 15^th, 2019

Market Index	Close	Change
Dow Jones	25849.01	+139.07   +0.54%
S&P 500	2822.45	+13.97   +0.50%
NASDAQ	7688.527	+57.617   +0.76%
TSX	16134.88	+47.33
		+0.29%

International Markets

Market Index	Close	Change
NIKKEI	21450.85	+163.83
		+0.77%
HANG SENG	29012.26	+160.87
		+0.56%
SENSEX	38024.32	+269.43
		+0.71%
FTSE 100*	7228.28	+42.85
		+0.60%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.717		1.757
CND. 30 Year Bond		2.023		2.049
U.S.    10 Year Bond		2.5907		2.6267
U.S. 30 Year Bond		3.0166		3.0431

Currencies

BOC Close	Today	Previous
Canadian $	0.75021	0.75034
US $	1.33296	1.33271
Euro Rate 1 Euro=		Inverse
Canadian $	1.51239	0.66120
US $	1.13434	0.88157

Commodities

Gold	Close	Previous
London Gold Fix	1295.55	1306.95
Oil
WTI Crude Future	58.52	58.61

Market Commentary:
“I remember the $0.05 hamburger and a $0.40-per-hour minimum wage, so I’ve seen a tremendous amount of inflation in my lifetime.  Did it ruin the investment climate?  I think not.” – from The Tao of Charlie Munger.
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks rose for a fourth day in five amid strength in pot stocks and financials, bringing the benchmark’s weekly gain to 0.9 percent.
     The S&P/TSX Composite Index added 0.3 percent Friday to close at 16,140, the highest in nearly six months. It joined a global rally sparked by China’s commitment to continued targeted stimulus. Health-care stocks led the gains, rising 2.3 percent as Aurora Cannabis Inc. added 7.6 percent to the highest since October. The pot stock gained 24 percent this week after billionaire investor Nelson Peltz joined the firm as a strategic adviser.
     Energy was the only weak spot, falling 0.5 percent as crude prices retreated for the first time this week. Precision Drilling Corp. slid 5.1 percent.
In other moves:
Stocks
* Westshore Terminals Investment Corp. slid 12 percent to the lowest since 2017 after one of its customers warned there is “substantial doubt” it can remain viable as a going concern
* Imperial Oil Ltd. lost 1 percent. It is delaying a C$2.6 billion oil-sands project in Canada by at least a year
* AutoCanada Inc. closed down 6.2 percent after falling as much as 18 percent in intraday trading. The company said its chief financial officer and president of U.S. operations have resigned and it posted an unexpected fourth-quarter loss
Commodities
* Western Canada Select crude oil traded at a $10.00 discount to WTI
* Gold rose 0.6 percent to $1,302.90 an ounce
FX/Bonds
* The Canadian dollar weakened 0.1 percent to C$1.3349 per U.S. dollar
* The Canada 10-year government bond yield fell four basis points to 1.72 percent, the lowest since mid-2017, amid data that showed home sales dropped sharply in February
US
By Jeremy Herron and Vildana Hajric
     (Bloomberg) — U.S. stocks joined a global advance in equities sparked by China’s renewed commitment to stimulus as investors grew more confident that central banks will remain accommodative. Treasuries rose.
     The S&P 500 Index headed for its best week since November, with technology shares surging after a strong earnings report from Broadcom. Volumes jumped and trading was volatile amid the expiration of futures and options on both indexes and stocks.
     The 10-year Treasury yield dipped below 2.6 percent. Equities from Tokyo to London rose after the Chinese government said it would cut value-added taxes, reinforcing expectations for an eventual pick-up in the world’s second-largest economy.
     Broadcom surged to a record after its forecast, lifting semiconductor stocks, and Boeing reversed losses and posted a small gain after a report it plans to upgrade software in its grounded 737 Max jets. Adobe declined after reporting disappointing results and Tesla fell sharply after its latest model was met with mixed reviews.
     Global stocks ended the week on a solid footing, wiping out the losses last week that were the worst of the year. Investor attention will turn to a packed calendar in the days ahead.
     Central banks in the U.S., the U.K. and Brazil will all announce policy decisions, while European Union leaders meet for discussions likely to be dominated by Britain’s request to extend its withdrawal timescale. Boeing shares may remain active as the plane maker’s lawsuit risks soared around the 737 Max groundings.
     Elsewhere, West Texas crude slipped as the International Energy Agency said OPEC nations have enough spare capacity to make up for any supply shock from the escalating crisis in Venezuela. The pound strengthened at the end of a week made volatile by critical votes on Brexit in Parliament. Prime Minister Theresa May won the endorsement of British politicians to seek a Brexit delay.
And these are the main moves in markets:
Stocks
* The S&P 500 rose 0.5 percent at the close of trade in New York. It added 2.9 percent this week.
* The Stoxx Europe 600 Index rose 0.7 percent.
* The MSCI Asia Pacific Index rose 0.8 percent.
* The MSCI Emerging Market Index rose 0.9 percent.
Currencies
* The Bloomberg Dollar Spot Index fell 0.2 percent.
* The euro rose 0.2 percent to $1.1321.
* The British pound rose 0.4 percent to $1.3291.
Bonds
* The yield on 10-year Treasuries fell four basis points to 2.59 percent.
* Britain’s 10-year yield fell one basis point to 1.21 percent.
* Germany’s 10-year yield fell less than one basis point to 0.08 percent.
Commodities
* WTI crude slipped 0.3 percent to $58.41 a barrel.
* Gold gained 0.4 percent to $1,301.87 an ounce.
–With assistance from Kristine Aquino, Adam Haigh, Ksenia Galouchko, Todd White and Eddie van der Walt.

Have a wonderful weekend.

Be magnificent!

As ever,

Carolann

Men at some times are masters of their fates: The fault, dear Brutus, is not in our stars,
But in ourselves, that we are underlings. -William Shakespeare, 1564-1616

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

Dear Friends,

Tangents:  Happy Pi Day!
Birthday: March 14, 1879, Albert Einstein, Physicist.
Albert Einstein, an only child and a slow learner, was born in Ulm Germany, to a featherbed salesman and his wife.  He had little interest in formal schooling but eventually earned a doctorate in physics.  Not interested in the demands of academia, he went to work as a clerk in the Bern, Switzerland, patent office where he could work on physics in the afternoons.  During 1905, what is now called his “miracle year,” he wrote a series of five seminal papers.  One dealt with special relativity, and one introduced the world’s most familiar equation: E= .

When Einstein moved to Berlin in 1914 to direct the Kaiser Wilhelm Institute for Physics, a campaign was begun to discredit him, but he survived it.  Later, during Hitler’s reign, Einstein’s work was described as “Jewish physics” opposed to the preferred “Aryan physics”.  Seeing the damage that Hitler was doing, Einstein renounced his German citizenship and revised his views on pacificism, believing Hitler could only be stopped by force.  The FBI kept a record of Einstein’s activities and recommended denying him immigration to the U.S., but Einstein moved to New Jersey, and Princeton University, and became a permanent U.S. citizen in 1940.  In 1952, the government of Israel asked hi  to be its second president, an honor he declined.

As a personality, Einstein was  noted for his kindness and amiability.  Quirky and practical, he minimized his wardrobe – buying identical sets of clothing – so that he wouldn’t have to think about what to wear.  Though he had been an early advocate of nuclear energy, on April 5, 1955, he signed a letter to protest nuclear tests and bombs.  Days later, on April 18, 1955, he died in his sleep. –KM,  Cosmo Doogood’s Urban Almanac.

“It would be possible to describe everything scientifically, but it would make no sense; it would be without meaning, as if you described

a Beethoven symphony as a variation of wave pressure.” –Albert Einstein.

PHOTOS OF THE DAY

An aerial view of the Cerro Dominador thermosolar power plant, the first in Latin America, in Antofagasta, Chile. Chile aims to having 100% of clean energy by 2040. Credit” Ho/Cerro Dominador/AFP

Skiers compete during the first stage of the 34^th edition of the ski-mountaineering race Pierra-Menta in Areches-Beaufort, French Alps. Credit: Jeff Pachoud/AFP

Huge waves slap against the harbour wall as spectators watch from rocks out into the sea at Porthcawl, Wales, where heavy rain and strong winds have been causing travel disruption in several parts of the UK as Storm Gareth moves east. Credit” Ben Birchall/PA
Market Closes for March 14^th, 2019

Market Index	Close	Change
Dow Jones	25709.94	+7.05   +0.03%
S&P 500	2808.48	-2.44   -0.09%
NASDAQ	7630.910	-12.495   -0.16%
TSX	16087.55	-62.42
		-0.39%

International Markets

Market Index	Close	Change
NIKKEI	21287.02	-3.22
		-0.02%
HANG SENG	28851.39	+43.94
		+0.15%
SENSEX	37754.89	+2.72
		+0.01%
FTSE 100*	7285.43	+26.24
		+0.37%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.757		1.766
CND. 30 Year Bond		2.049		2.044
U.S.    10 Year Bond		2.6267		2.6213
U.S. 30 Year Bond		3.0431		3.0159

Currencies

BOC Close	Today	Previous
Canadian $	0.75034	0.75248
US $	1.33271	1.32893
Euro Rate 1 Euro=		Inverse
Canadian $	1.50699	0.66357
US $	1.13074	0.88438

Commodities

Gold	Close	Previous
London Gold Fix	1306.95	1297.05
Oil
WTI Crude Future	58.61	58.26

Market Commentary:
Knowing what you don’t know is more useful than being brilliant. -The Tao of Charlie Munger, Scribner, 2017.
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks fell the most in two weeks as declining gold prices weighed on the materials sector and weak earnings hit consumer staples.
     The S&P/TSX Composite Index lost 0.4 percent to 16,087.55, its first decline of the week. Materials led the drop, losing 1.8 percent as gold prices retreated on a stronger U.S. dollar. Iamgold Corp. slid 5.1 percent and Alamos Gold Inc. lost 5 percent.
     Energy stocks were one of the few bright spots for the benchmark, gaining 0.3 percent as crude prices hit a four-month high. Birchcliff Energy Ltd. rose 4.7 percent.
In other moves:
Stocks
* North West Co. led the declines on the benchmark, falling 5.5 percent, the most since 2016. The retailer’s adjusted earnings per share missed the lowest analyst estimate
* Premium Brands Holdings Corp. lost 4.5 percent, the most since November, after fourth-quarter earnings before interest, taxes, depreciation and amortization missed the average analyst estimate
* Aurora Cannabis Inc. fell 1.8 percent. The retreat followed Wednesday’s 13 percent gain after the pot firm appointed billionaire investor Nelson Peltz as a strategic adviser
Commodities
* Western Canada Select crude oil traded at a $10.15 discount to WTI
* Gold fell 1.1 percent to $1,295.10 an ounce
FX/Bonds
* The Canadian dollar weakened 0.2 percent to C$1.3327 per U.S. dollar
* The Canada 10-year government bond yield fell one basis point to 1.76 percent
US
By Jeremy Herron and Vildana Hajric
     (Bloomberg) — U.S. stocks halted a three-day rally, while the dollar surged amid concern a trade deal with China remains elusive. The pound fell as the Brexit saga rumbled on.
     The S&P 500 spent most of the session fluctuating between gains and losses in thin trading, before a slight fade at the close. News that a meeting to end the trade war with China won’t happen this month weighed on sentiment. The index had jumped 2.5 percent in the prior three days, pushing past the 2,800 level that had capped prior advances. Consumer and material shares were the worst performers Thursday. Bank and technology shares led gains.
     “Most analysts believe a China trade deal is fully priced into the markets, which can mean only one thing — if there’s a wild card lurking, it would be the emergence of a negative surprise,” Greg Valliere, the chief U.S. policy strategist at AGF Investments, wrote in a note. “While we expect a signing ceremony by later in the spring, the idea that a final pact can be completed by the end of this month is optimistic, to say the least.”
     The yuan weakened. Treasuries were steady and the dollar gained, holding those moves as data showed U.S. jobless claims rose to a four-week high. The Stoxx Europe 600 Index climbed, with shares in the U.K. also rising after a night of voting that saw the British government once again defeated in Parliament over Brexit. Equities rose in Hong Kong, while they slid in China after industrial production numbers missed expectations.
     Investors have a lot to grapple with just now. U.S. stocks had gained for three straight days this week as economic data came in neither too hot nor too cold, while traders in Europe on Thursday seemed to be shrugging off more warning signs from the region — perhaps because of hopes Brexit can be delayed or derailed. Figures suggesting China’s slowdown deepened in the first two months of the year added to reasons for caution following this quarter’s rebound in Asian shares.
     The pullback in sterling follows a big rally on Wednesday. U.K. lawmakers have rejected the idea of tearing the country out of the EU with no agreement, and Prime Minister Theresa May is said to be planning to seek an extension to the March 29 Brexit deadline lasting about two months.
     Elsewhere, gold fell and copper was dragged down by the Chinese data. Emerging-market shares edged lower.
Here are some of the key events coming up:
* China’s National People’s Congress is set to wrap up on Friday.
* Bank of Japan Governor Haruhiko Kuroda will speak on Friday, after he and his board conclude their discussions on monetary policy.
And these are the main moves in markets:
Stocks
* The S&P 500 was fell 0.1 percent to 2,809 as of 4 p.m. in New York.
* The small-cap Russell 2000 Index lost 0.2 percent.
* The Stoxx Europe 600 Index climbed 0.8 percent.
* The MSCI Asia Pacific Index fell 0.3 percent.
* The MSCI Emerging Market Index declined 0.3 percent.
Currencies
* The Bloomberg Dollar Spot Index advanced 0.3 percent, the first gain in a week.
* The euro declined 0.2 percent to $1.1306, the first retreat in a week.
* The British pound lost 0.4 percent to $1.3279.
* The Japanese yen decreased 0.5 percent to 111.744 per dollar.
Bonds
* The yield on 10-year Treasuries rose one basis point to 2.63 percent.
* The two-year rate was little changed at 2.46 percent.
* Germany’s 10-year yield gained two basis points to 0.086 percent.
* Britain’s 10-year yield rose three basis points to 1.22 percent.
Commodities
* The Bloomberg Commodity Index fell 0.2 percent.
* West Texas Intermediate crude gained 0.6 percent to $58.58 a barrel.
* Gold futures slumped 1 percent to $1,296.40 an ounce. –With assistance from Sophie Caronello, Cormac Mullen, Adam Haigh, Eddie van der Walt and Brendan Walsh.

Have a great night.

Be magnificent!

As ever,

Carolann

The years teach much which the days never know.
                   -Ralph Waldo Emerson, 1803-1882

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

Dear Friends,

Tangents:
1781 ~Planet Uranus discovered.
1887 ~Earmuffs patented.
1868 – The impeachment trial of President Andrew Johnson began in the U.S. Senate. Go to article »

Did you know… that households who retain a financial advisor for periods of 7 years or longer accumulate 290% more wealth than those who don’t?

PHOTOS OF THE DAY

English computer scientist Tim Berners-Lee, best known as the inventor of the World Wide Web, delivers a speech during an event at the CERN near Geneva, Switzerland, marking 30 years of World Wide Web. Credit: Fabrice Coffrini/AP

Laure Chardin, climbs the stairs during a training session at the Eiffel Tower in Paris, before the tower running event ‘La Verticale de la Tour Eiffel’ to be held on March 13. Credit: Anne-Christine Poujoulat/AFP

Women seen harvesting red chilli peppers in Sariakandi in Bogra Bangladesh. Around 50,000 farmers in the northern regions of Bangladesh farm red chilli peppers giving the farmers a dependable income. Credit: Rehman/barcroft images
Market Closes for March 13^th, 2019

Market Index	Close	Change
Dow Jones	25702.89	+148.23   +0.58%
S&P 500	2810.92	+19.40   +0.69%
NASDAQ	7643.406	+52.375   +0.69%
TSX	16149.97	+13.31
		+0.08%

International Markets

Market Index	Close	Change
NIKKEI	21290.24	-213.45
		-0.99%
HANG SENG	28807.45	-113.42
		-0.39%
SENSEX	37752.17	+216.51
		+0.58%
FTSE 100*	7159.19	+8.04
		+0.11%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.766		1.739
CND. 30 Year Bond		2.044		2.027
U.S.    10 Year Bond		2.6213		2.6015
U.S. 30 Year Bond		3.0159		2.9912

Currencies

BOC Close	Today	Previous
Canadian $	0.75248	0.74877
US $	1.32893	1.33552
Euro Rate 1 Euro=		Inverse
Canadian $	1.50625	0.66390
US $	1.13342	0.88228

Commodities

Gold	Close	Previous
London Gold Fix	1297.05	1292.75
Oil
WTI Crude Future	58.26	56.87

Market Commentary:
On this day in 1882, robber baron Jay Gould displayed his wealth to journalists assembled in his office to quell rumors that he was on the verge of bankruptcy. He opened a safe and pulled out a tin box with certificates for $23 million in Western Union stock, $12 million in Missouri Pacific, $6 million in Manhattan Elevated, $2 million in Wabash and $10 million in various bonds (roughly $915 million total in modern money).  
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks rose for a third day but failed to achieve the gains of their U.S. counterparts as strength in pot stocks and energy was offset by widespread weakness in other sectors.
     The S&P/TSX Composite Index added 0.1 percent to 16,149.97, behind the 0.7 percent gain on the S&P 500. Health-care stocks led the way, adding 2.4 percent as pot stocks rose following news that billionaire investor Nelson Peltz will join Aurora
     Cannabis Inc. as a strategic adviser. Aurora gained 13 percent. Energy stocks rose 0.7 percent as crude prices hit a 2019 high amid a decline in U.S. stockpiles. Gran Tierra Energy Inc. gained 6.5 percent, the most since September, after winning bids to begin exploration in Ecuador.
In other moves:
Stocks
* WestJet Airlines Ltd. fell 1.6 percent and Bombardier Inc. gained 2.5 percent after Canada and the U.S. both reversed course and said they’ll ground Boeing Co.’s 737 Max jetliners
* Badger Daylighting Ltd. rose 7.1 percent to the highest since 2014. Fourth-quarter earnings per share beat the highest analyst estimate
* Hexo Corp. gained 5.8 percent and Newstrike Brands Ltd. rose 11 percent. Hexo is buying Newstrike for approximately C$263 million in shares
Commodities
* Western Canada Select crude oil traded at a $10.10 discount to WTI
* Gold rose 0.9 percent to $1,309.30 an ounce, the highest in two weeks FX/Bonds
* The Canadian dollar strengthened 0.4 percent to C$1.3296 per U.S. dollar
* The Canada 10-year government bond yield rose two basis points to 1.76 percent
US
By Reade Pickert
    (Bloomberg) — U.S. equities gained as data signaled a resilient economy and modest pressure on inflation. The pound jumped as the U.K. parliament voted to reject a no-deal Brexit.
     The S&P 500 Index climbed for a third day, wiping out last week’s losses and reaching a four-month high as it held above the key 2,800 level. Oil prices rallied to the highest this year. Treasury yields edged up as orders for business equipment increased in January by the most in six months as the producer price index rose less than forecast in February.
     The U.S. data signaled a positive start to the year for the world’s biggest economy and little pressure on the Federal Reserve to raise interest rates, just as investors were digesting disappointing numbers from Japan and Australia. The ongoing Brexit drama, a cut to the U.K.’s growth forecast and a warning from America’s top trade negotiator that tariffs may not be rolled back are adding to the complex picture, with reports on Chinese production and retail sales and a Bank of Japan policy decision also coming up this week. 
     “It’s pretty remarkable the strength of the market over the last couple of days,” said Emily Roland, the head of capital markets research at John Hancock Investments. The producer-price data “is further evidence that the Fed’s more patient approach should provide support for risk assets, at least for now.’’
     Sterling extended its gains as U.K. lawmakers rejected the idea of tearing the country out of the European Union with no agreement and U.K. Prime Minister Theresa May was said to plan to ask for an extension to the March 29 Brexit deadline lasting about two months.
     Elsewhere, European equities gained and Asian stocks slumped. West Texas oil was boosted by a decline in U.S. crude and fuel stockpiles added to evidence of a tightening market.
     Emerging-market stocks declined for the first time in three days.
Here are some of the key events coming up:
* Chinese retail sales and industrial production data are scheduled for release this week. The National People’s Congress is set to wrap up on Friday.
* Bank of Japan Governor Haruhiko Kuroda will speak on Friday, after he and his board meet to decide on monetary policy.
And these are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.7 percent as of the close of trade in New York.
* The Stoxx Europe 600 Index gained 0.5 percent.
* The MSCI All-Country World Index rose 0.6 percent.
* The MSCI Emerging Market Index dipped less than 0.1 percent.
* The Nikkei-225 Stock Average fell 1 percent.
Currencies
* The Bloomberg Dollar Spot Index dipped 0.3 percent.
* The euro increased 0.4 percent to $1.1337, the strongest in a week.
* The British pound jumped 1.4 percent, the most in four months, to $1.3255.
* The Japanese yen gained 0.2 percent to 111.1 per dollar.
Bonds
* The yield on 10-year Treasuries climbed one basis point to  2.61 percent.
* Germany’s 10-year yield increased one basis point to 0.06 percent.
* Britain’s 10-year yield rose three basis points to 1.2 percent.
Commodities
* West Texas Intermediate crude increased 2.7 percent to $58.41 a barrel, the highest in four months.
* Gold climbed 0.7 percent to $1,311.06 an ounce, the highest in almost two weeks.
* The Bloomberg Commodity Index rose 0.8 percent.
–With assistance from Adam Haigh, David Wilson, Robert Brand and Sarah Ponczek.

Have a great night.

Be magnificent!

As ever,

 

Carolann

We must be willing to get rid of the life we’ve planned,
so as to have the life that is waiting for us. -Joseph Campbell, 1904-1987

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

Dear Friends,

Tangents:
1857 – Disaster – Great Western Railway train travelling from Toronto to Hamilton breaks an axle while crossing the bridge over the Desjardins Canal; the bridge collapses, and the train plunges 12 metres to the frozen canal below; about 59 people killed, 18 injured; the builder/financier of the railway, US promoter Samuel Zimmerman, is one of those killed.
Burlington Heights, Ontario  Go to article »

Jack Kerouac, b. March 12, 1922
What is the feeling when you’re driving away from people, and they recede on the plain till you see their specks dispersing?  It’s the too huge world vaulting for us, and it’s good-bye.  But we lean forward to the next crazy adventure beneath the skies. -Jack Kerouac, from Motivation.
PHOTOS OF THE DAY

Sunrise over Mogshade Pond in the New Forest, Hampshire, UK. Credit: Steven Hogan/Cover Images

Revelers jump above a fire as they take part in the independent ‘La Plaine Carnival’ in Marseille, southern France. Credit: Clement Mahoudeau/AFP/Getty Images

The sun sets behind Wat Saket Temple, or Golden Mount in Bangkok, Thailand. Credit: Reuters/Athit Perawongmetha
Market Closes for March 12^th, 2019

Market Index	Close	Change
Dow Jones	25554.66	-96.22   -0.38%
S&P 500	2791.52	+8.22   +0.30%
NASDAQ	7591.031	+32.968   +0.44%
TSX	16136.66	+30.42
		+0.19%

International Markets

Market Index	Close	Change
NIKKEI	21503.69	+378.60
		+1.79%
HANG SENG	28920.87	+417.57
		+1.46%
SENSEX	37535.66	+481.56
		+1.30%
FTSE 100*	7151.15	+20.53
		+0.29%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.739		1.755
CND. 30 Year Bond		2.027		2.049
U.S.    10 Year Bond		2.6015		2.6393
U.S. 30 Year Bond		2.9912		3.0270

Currencies

BOC Close	Today	Previous
Canadian $	0.74877	0.74685
US $	1.33552	1.33896
Euro Rate 1 Euro=		Inverse
Canadian $	1.50774	0.66324
US $	1.12896	0.88577

Commodities

Gold	Close	Previous
London Gold Fix	1292.75	1296.75
Oil
WTI Crude Future	56.87	56.79

Market Commentary:
On this day in 1986, Oracle went public on Nasdaq at an initial price of $15 a share. The stock closed the day at $20.75, setting the stage for another software company, Microsoft, to go public the following day. Oracle shares closed at $52.66 Monday, giving the company a market value of about $190 billion. The stock is up 17% for the year. 
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks rose for a second day as commodity-led gains offset airline weakness amid a deepening crisis at Boeing Co.
     The S&P/TSX Composite Index added 0.2 percent to 16,136.66. Materials stocks rose 1.3 percent as gold prices moved higher on cooling U.S. inflation. Eldorado Gold Corp. was the biggest gainer on the benchmark Tuesday, adding 6.4 percent to the highest since August.
     Industrials, meanwhile, slid 0.7 percent as Air Canada lost 4 percent and WestJet Airlines Ltd. fell 2.5 percent. Both airlines fly Boeing’s 737 Max jet, which has been grounded by several operators and countries around the world following a second deadly crash.
In other moves:
Stocks
* Linamar Corp. lost 4.4 percent after fourth-quarter sales missed the lowest analyst estimate
* Empire Co. Ltd. slid 3.5 percent, the most since September. The stock was downgraded to hold from buy at Desjardins Securities on higher costs
* NFI Group Inc. fell 4.5 percent ahead of its fourth-quarter earnings release, which is expected post-market on Wednesday
Commodities
* Western Canada Select crude oil traded at a $10.35 discount to WTI
* Gold rose 0.5 percent to $1,298.10 an ounce
FX/Bonds
* The Canadian dollar strengthened 0.3 percent to C$1.3355 per U.S. dollar
* The Canada 10-year government bond yield fell two basis points to 1.73 percent, the lowest since 2017
US
By Jeremy Herron and Reade Pickert
     (Bloomberg) — U.S. stocks capped a second day of gains, while Treasuries rallied after weak inflation data bolstered bets the Federal Reserve can stay patient. The pound fell as the U.K.’s Brexit turmoil deepened.
     While the S&P 500 Index pushed its two-day gain to 1.8 percent, Brexit and renewed turmoil for Boeing dominated headlines throughout the day. The plane maker sank as a slew of countries grounded its troubled 737 Max jets. Sterling fell after U.K. lawmakers rejected the government’s latest deal to leave the European Union, with uncertain implications for the country’s political future. The 10-year Treasury yield slumped with the dollar. Crude rose.
     “I expect equity markets to remain volatile and to tread water, and there is still too much risk in risk assets, and ultimately I think bond yields will head lower but this is a process that unfolds, it’s not a sudden event,” Suzanne Hutchins, a senior portfolio manager at Newton Investment Management in London, said in an interview at Bloomberg’s New York headquarters.
     The pound whipsawed amid the Brexit drama, rising overnight after Theresa May won a new deal to leave the EU. It tumbled as much as 1.1 percent versus the dollar as the deal’s fate looked uncertain, only to pare the drop amid parliamentary debate. The vote to reject the pact sent it lower again.
     Alongside Brexit developments, investors have a slew of economic data to digest this week. The latest inflation reading came amid falling prices for autos and prescription drugs, adding to evidence the American economy is in no danger of overheating. In the coming days the focus will turn to Chinese production and retail sales, as well as a Bank of Japan policy decision.
Here are some of the key events coming up:
* Chinese retail sales and industrial production data are scheduled for release this week. The National People’s Congress is set to wrap up on Friday.
* Bank of Japan Governor Haruhiko Kuroda will speak on Friday, after he and his board meet to decide on monetary policy.
And these are the main moves in markets:
Stocks
* The S&P 500 Index increased 0.3 percent as of 4 p.m. New York time.
* The Dow Jones Industrial Average fell 0.3 percent. Boeing is its largest component.
* The Nasdaq 100 rose 0.5 percent.
* The Stoxx Europe 600 Index rose less than 0.1 percent.
* The U.K.’s FTSE 100 Index gained 0.2 percent.
* The MSCI Asia Pacific Index advanced 1.2 percent, the biggest gain in almost six weeks.
* The MSCI Emerging Market Index climbed 1 percent.
Currencies
* The Bloomberg Dollar Spot Index declined 0.1 percent.
* The euro advanced 0.3 percent to $1.1275.
* The British pound decreased 0.4 percent to $1.3095.
* The Japanese yen increased less than 0.05 percent to 111.20 per dollar.
Bonds
* The yield on 10-year Treasuries fell four basis points to 2.5979 percent.
* Germany’s 10-year yield increased less than one basis point to 0.07 percent.
* Britain’s 10-year yield advanced one basis point to 1.189 percent.
Commodities
* Gold increased 0.4 percent to $1,297.98 an ounce.
* West Texas Intermediate crude gained 1 percent to $57.37 a barrel, the highest in more than two weeks.
–With assistance from Chikako Mogi, Katherine Greifeld, Andreea Papuc and Todd White.

Have a great night.

Be magnificent!

As ever,

Carolann

He who sedulously attends, pointedly asks, calmly speaks, coolly answers, and ceases when he has no more to say is in possession of some of the best requisites of man. -Johann Lavater, 1741-1801

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

Dear Friends,

Tangents:
March 11, 1935 – Finance – Bank of Canada starts operations under Governor Graham Towers; has mandate to issue currency and regulate money supply; begins as a privately owned institution, with shares sold to the public; shortly becomes a government-owned central bank; the Bank of Canada Act received royal assent on July 3, 1934. Ottawa, Ontario.  Go to article »

POINTS OF PROGRESS:
GERMANY:  The country is shutting down all 84 of its coal-fired power plants.  Germany is one of the world’s biggest coal consumers, and it has been missing its emissions reduction targets in recent years.  The new plan, which aims to shut down all plants over the nest 19 years, will enable it to meet its international commitments for emissions reduction.  Currently, 40% of Germany’s electricity comes from coal-fired plants. -Los Angeles Times.

CHINA & INDIA: The world is getting greener, thanks to China and India.  A satellite imagery study conducted by NASA revealed that the world’s total green leaf area has increased by 5% since 2000 (though deforestation continues to negatively affect certain important ecosystems).  India and China have the largest populations in the world, and are often ranked among the most polluted.  However, the two countries are responsible for a full third of the increase in green foliage noted by NASA, due to tree-planting projects and expanded agriculture. -CNN.

PHOTOS OF THE DAY

People’s Climate March Amsterdam, Netherlands. Credit: Robin Utrecht/SIPA USA

White tailed eagles fight over fish, northern Japan. From sea eagles fighting in Japan to wild horses thundering through the Camargue in France, these are just two of the pictures set to go on show in a wildlife photo exhibition at the Patching Art Centre, Calverton, Nottingham. Credit: Peter Jones/SWNS.COM

13th Strade Biance 2019 a 184 km race from Siena to Siena-Piazza del Campo in Italy. Credit: Tim De Waele/Getty Images
Market Closes for March 11^th, 2019

Market Index	Close	Change
Dow Jones	25650.88	+200.64   +0.79%
S&P 500	2783.30	+40.23   +1.47%
NASDAQ	7558.063	+149.921   +2.02%
TSX	16106.24	+110.03
		+0.69%

International Markets

Market Index	Close	Change
NIKKEI	21125.09	+99.53
		+0.47%
HANG SENG	28503.30	+274.88
		+0.97%
SENSEX	37054.10	+382.67
		+1.04%
FTSE 100*	7130.62	+26.31
		+0.37%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.755		1.765
CND. 30 Year Bond		2.049		2.055
U.S.    10 Year Bond		2.6393		2.6285
U.S. 30 Year Bond		3.0270		3.0127

Currencies

BOC Close	Today	Previous
Canadian $	0.74685	0.74537
US $	1.33896	1.34162
Euro Rate 1 Euro=		Inverse
Canadian $	1.50872	0.66284
US $	1.12664	0.88759

Commodities

Gold	Close	Previous
London Gold Fix	1296.75	1285.30
Oil
WTI Crude Future	56.79	56.07

Market Commentary:
On this day in 1991, Microsoft confirmed that it was the subject of an investigation by the Federal Trade Commission. Over the coming years, evidence of Microsoft’s monopolistic behavior mounted until a U.S. district issued a final ruling on April 3, 2000, finding that Microsoft violated Federal antitrust law. That day, the company’s stock plunged 14.5%, and Microsoft lost $80 billion in market value.
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks rose to their highest level since September with every sector gaining as global indexes rebounded from a gloomy week.
     The S&P/TSX Composite Index added 0.7 percent to 16,106.24. That’s the biggest gain since mid-February and more than erases last week’s drop, which was the first weekly decline of the year.
     Technology stocks led the way, rising 1.8 percent to the highest since 2008. Shopify Inc. jumped 5.5 percent to a record high after it was added to the S&P/TSX 60 Index. Energy stocks also gained, adding 1.1 percent as Saudi Arabia moved to extend supply curbs.
In other moves:
Stocks
* Barrick Gold Corp. rose 2 percent. The company abandoned its $17.8 billion bid for Newmont Mining Corp., instead announcing a joint venture for the companies’ Nevada assets
* Computer Modelling Group Ltd. fell 4.1 percent after being deleted from the S&P/TSX Composite Index while ARC Resources Ltd. lost 3.4 percent after it was removed from the S&P/TSX 60 Index
* Harvest Health & Recreation Inc. jumped 11 percent. The cannabis company is acquiring closely held Verano Holdings LLC for about $850 million
Commodities
* Western Canada Select crude oil traded at a $10.80 discount to WTI
* Gold fell 0.6 percent to $1,291.10 an ounce, the biggest drop in a week
FX/Bonds
* The Canadian dollar strengthened 0.1 percent to C$1.3403 per U.S. dollar
* The Canada 10-year government bond yield fell one basis point to 1.76 percent
US
By Reade Pickert and Vildana Hajric
     (Bloomberg) — U.S. stocks jumped the most in six weeks as chipmakers rallied on deal news and the latest retail-sales data boosted confidence that the economy isn’t headed for a downturn. Treasuries slipped.
     The S&P 500 surged past its 200-day moving average, while the Nasdaq 100 jumped more than 2 percent amid an Apple upgrade. Nvidia agreed to buy a competitor, sending the Philadelphia Semiconductor index to its biggest gain in a month. The Dow Jones Transportation Average stopped the longest string of drops since 1972. Boeing retreated after some airlines grounded 737 Max flights following a crash Sunday. It is the biggest component of the price-weighted Dow Jones Industrial Average and the only of the 30 blue chips to retreat.
     Stocks are coming off the worst week since December after a slew of negative news about the global economy, including a weak American jobs report and a sharp dovish turn by the European Central Bank. The S&P 500 failed to hold above 2,800 — a level that has capped prior rallies — and its decline accelerated after it slid through the average price over the past 200 days.
     “With retail sales coming out this morning, that provided the catalyst to move stocks upward,” Kristina Hooper, chief global market strategist at Invesco Ltd., said in an interview at Bloomberg’s New York headquarters. “Certainly, M&A activity never hurts in terms of creating some positive sentiment for stocks. So it’s been a nice relief rally after what was a relatively dark week for stocks last week.”
     A slew of data releases this week will be closely watched for clues on growth and the impact of central bank policy in the U.S., European Union and China, with the Bank of Japan the next to meet. On the trade front, Beijing and Washington are in general agreement on many crucial issues and have held meaningful discussions on foreign exchange, People’s Bank of China Governor Yi Gang said.
     “We’ve had a bit of a pullback in this market — one of the bigger ones all year,” Jim Paulsen, chief investment strategist at the Leuthold Group, said in an interview. “It looks like buying on the dip more than anything else. There’s been a lot of money waiting on the sidelines.”
     Europe’s benchmark stock gauge rose the most in three weeks. In Asia, Chinese shares outperformed, paring some of Friday’s losses, with stocks in Japan and Hong Kong also higher.
Treasuries declined with most European sovereign bonds. In Norway, the krone strengthened as surging inflation increased the odds of a rate hike next week.
     Elsewhere, oil prices climbed as Saudi Arabia extended deeper-than-agreed production cuts into a second month. The pound gained as another key Brexit vote looms in parliament on Prime Minister Theresa May’s revised deal. Turkey’s lira edged higher even as the country entered its first recession in a decade.
Here are some key events coming up:
* Chinese retail sales and industrial production data are all scheduled for release this week. The National People’s Congress is set to wrap up with a speech on Friday from Premier Li Keqiang.
* U.K. House of Commons votes Tuesday on May’s revised Brexit deal, 20 days before Britain is scheduled to leave the EU.
* Bank of Japan Governor Haruhiko Kuroda will speak on Friday, after he and his board meet to decide on monetary policy. 
These are the latest moves in markets:
Stocks
* The S&P 500 rose 1.5 percent at 4 p.m. in New York.
* The Dow average added 0.8 percent and the Nasdaq 100 climbed 2.1 percent.
* The Stoxx Europe 600 Index increased 0.8 percent.
* The MSCI Asia Pacific Index jumped 0.7 percent, the largest climb in two weeks.
* The MSCI Emerging Market Index rose 1.1 percent, the biggest increase in two weeks.
Currencies
* The Bloomberg Dollar Spot Index slipped 0.1 percent.
* The euro was little changed at $1.1244.
* The Japanese yen fell 0.1 percent to 111.26 per dollar.
* The MSCI Emerging Markets Currency Index jumped 0.2 percent.
Bonds
* The yield on 10-year Treasuries increased one basis point to 2.64 percent, the first advance in more than a week.
* The two-year yield rose one basis point to 2.475 percent.
* Germany’s 10-year yield decreased less than one basis point to 0.06 percent, the lowest in more than two years.
Commodities
* The Bloomberg Commodity Index dipped 0.3 percent to the lowest in three weeks.
* WTI crude rose 1.3 percent to $56.77 a barrel, the largest advance in a week.
* Gold fell 0.5 percent to $1,292.15 an ounce, the largest drop in a week.
–With assistance from Nancy Moran, Adam Haigh, Eddie van der Walt and Brendan Walsh.

Have a great night.

Be magnificent!

As ever,

Carolann

Never look back unless you are planning to go that way. – Henry David  Thoreau, 1817-1862

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

Dear Friends,

Tangents: Happy Friday!
1965 – March 8, 1965 – The first U.S. combat troops arrive in Vietnam as 3500 Marines land at China Beach to defend the American air base at Da Nang. They join 23,000 American military advisors already in Vietnam.   Go to article »

Today is International Women’s Day, a day of celebration and solidarity.

Many scholars trace its origins to 1909, when the Socialist Party of America declared a Woman’s Day. The idea spread.

In 1915, Clara Zetkin, a German Marxist who had promulgated the day, used it to protest World War I. In Russia in 1917, revolutionary women used the day to demand bread and peace

The Women’s Suffrage Demonstration in Petrograd, Russia, on March 8, 1917.  Heritage Images/Getty Images

In many countries, the celebration these days is less political and more commercial, a holiday marked by candy and flowers.

In your Back Story writer’s youth in a Bosnian household in St. Louis, it was a day when the women celebrated one another and all that they had overcome. Gifts from husbands and children played a part, but the focus was on women’s bonds with one another.

It raises the question: Who gets to shape a holiday? As Temma Kaplan, a history professor at Rutgers University, put it, “Commemorations and holidays are like clay — you can define what they will mean.”

Queen Elizabeth II, the world’s longest-reigning living monarch, passed another milestone on Thursday: her first post on Instagram

–from The New York Times, March 8^th, 2019.

PHOTOS OF THE DAY

Artist Pascale Marthine Tayou’s “Plastic Bags” is on display at The Armory Show in New York, staged on Manhattans Piers 90, 92 and 94. The Armory Show is New York City’s premier art fair, and a leading cultural destination for discovering and collecting the worlds most important 20th– and 21st- century art. Credit: Timothy A. Clary/AFP/Getty Images

Tourists ride in a vintage car at the seafront Malecon in Havana, Cuba. Credit: Reuters/Alexandre Meneghini

Commuters at London Victoria Station were surprised to see the BI Mayflower steam train on the platform as it comes into London for the first time since its major refurbishment on its way from London Victoria to Bath and Bristol with over 240 passengers. Credit: John Nguyen for The Telegraph
Market Closes for March 8^th, 2019

Market Index	Close	Change
Dow Jones	25450.24	-22.99   -0.09%
S&P 500	2743.07	-5.86   -0.21%
NASDAQ	7408.141	-13.323   -0.18%
TSX	15996.21	-60.30
		-0.38%

International Markets

Market Index	Close	Change
NIKKEI	21025.56	-430.45
		-2.01%
HANG SENG	28228.42	-551.03
		-1.91%
SENSEX	36671.43	-53.99
		-0.15%
FTSE 100*	7104.31	-53.24
		-0.74%

Bonds

Bonds		% Yield		Previous % Yield
CND. 10 Year Bond		1.765		1.765
CND. 30 Year Bond		2.055		2.068
U.S.    10 Year Bond		2.6285		2.6393
U.S. 30 Year Bond		3.0127		3.0262

Currencies

BOC Close	Today	Previous
Canadian $	0.74537	0.74373
US $	1.34162	1.34457
Euro Rate 1 Euro=		Inverse
Canadian $	1.50727	0.66345
US $	1.12347	0.89010

Commodities

Gold	Close	Previous
London Gold Fix	1285.30	1285.85
Oil
WTI Crude Future	56.07	56.66

Market Commentary:
On this day in 1955, Harvard economics professor John Kenneth Galbraith testified before the U.S. Senate Banking Committee, warning that the market was overheating with “a substantial element of speculation.” With radio stations carrying his remarks live, the market dropped as Galbraith talked. The ticker ended up running nine minutes late, and the Dow closed down 2%. When Galbraith broke his leg skiing later that week, he got letters from angry investors saying their “prayers had been answered.”
Canada
By Michael Bellusci
     (Bloomberg) — Canadian stocks suffered their first weekly loss since late December despite staging a late rally on Friday.
     The S&P/TSX Composite Index fell 0.4 percent to 15,996.21. Energy stocks weakened as crude plunged in early trading, while materials led the way. Marijuana stocks managed to gain ground with the Horizons Marijuana Life Sciences (HMMJ CN) up 0.6 percent.
     Additionally, a new stock hit Canada’s market Friday. Lightspeed POS Inc., a software maker for retailers and restaurants, soared 19 percent in its trading debut after raising C$240 million. Separately, employment increased by 55,900 in February, all full-time jobs, Statistics Canada said Friday in Ottawa, building on a 66,800 gain in January.
In other moves:
Stocks
* Maxar Technologies gained 13%, bucking a 7-day slide 
* Village Farms International rose 11% after announcing its 50%- owned Canadian cannabis JV, Pure Sunfarms, entered into a wholesale supply pact 
* Kinross Gold climbed 6.1%, a leader among materials stocks 
* Enghouse Systems fell 8.7% after 1Q EPS missed lowest estimate
* Paramount Resources dropped 7.6% as NBF downgraded the stock to sector perform 
Commodities
* Western Canada Select crude oil traded at a $11.20 discount to WTI
* Gold rose 1 percent to about $1,300.40/ounce 
FX/Bonds
* The Canadian dollar gained 0.4% to C$1.3404 per U.S. dollar
* The Canada 10-year government bond yield fell to 1.763 percent
US
By Reade Pickert
     (Bloomberg) — U.S. stocks slumped with the dollar after a report showed American hiring was the weakest in more than a year while wage gains were the fastest of the expansion.
     The S&P 500 Index closed slightly lower for its fifth straight drop and worst week of the year, and Treasury yields fell to a two-month low amid concern the labor market is starting to slow. Shares pared declines late in the day as some analysts focused on the longer-term positive trend for jobs. The Stoxx Europe 600 Index sank the most in a month after Asian shares dropped. The euro climbed after closing at its lowest level since 2017 on Thursday, when the European Central Bank slashed growth forecasts.
     Investors had been waiting for the jobs report to provide more clues on the state of the world’s biggest economy and were surprised to learn U.S. nonfarm payrolls increased by 20,000 last month, trailing estimates for a 180,000 increase. The news came a day after ECB President Mario Draghi delivered fresh stimulus as he downgraded the outlook for the euro area. This week, China cut its goal for economic expansion, the Bank of Canada dialed back its expectations for policy tightening and the OECD lowered its global outlook.
     “Taken at face value, it didn’t look like a very good number,” said Charlie Ripley, senior market strategist for Allianz Investment Management. “But looking into the details, and understanding that weather could have been a factor and the shutdown could have played a factor, brought some noise into this report. I think people realized it’s not that bad overall.”
     The S&P 500 closed near a four-week low. Its weekly decline of 2.2 percent was the worst since December. China’s stock market slumped the most since October as traders interpreted a rare sell rating from the nation’s largest brokerage as a sign the government wants to curb gains. Weak Chinese trade data added to the negativity.
     Elsewhere, the yen climbed with gold as investors sought havens. The pound slipped as Prime Minister Theresa May appealed to members of Parliament to back her deal or risk seeing Brexit canceled. West Texas oil futures fell as the weakening outlook for the global economy and rising crude stockpiles signaled that markets will remain comfortably supplied. Stocks in emerging markets dropped.
These are the latest moves in markets:
Stocks
* The S&P 500 Index fell 0.2 percent at the close of trade in New York.
* The Dow Jones Industrial Average dipped 0.1 percent; its fifth consecutive decline was the longest losing streak since June
* The Stoxx Europe 600 Index sank 0.9 percent.
* The U.K.’s FTSE 100 Index dropped 0.7 percent.]
* The MSCI Emerging Market Index fell 1.3 percent to the lowest since January.
Currencies
* The Bloomberg Dollar Spot Index decreased 0.3 percent, the first retreat in more than a week.
* The euro increased 0.4 percent to $1.1233, the first advance in more than a week.
* The British pound fell 0.6 percent to $1.3005, its seventh consecutive decline.
* The Japanese yen advanced 0.4 percent to 111.12 per dollar.
Bonds
* The yield on 10-year Treasuries fell two basis points to 2.62 percent.
* Germany’s 10-year yield rose one basis point to 0.07 percent.
* Britain’s 10-year yield rose two basis points to 1.19 percent.
Commodities
* West Texas Intermediate crude dropped 1 percent to $56.11 a barrel.
* Gold climbed 1.2 percent to $1,300.48 an ounce.
* The Bloomberg Commodity Index fell 0.1 percent.
–With assistance from Scarlet Fu, Adam Haigh, Christopher Anstey, Robert Brand and Todd White.

Have a wonderful weekend!

Be magnificent!

As ever,

Carolann

Women are like teabags.  We don’t know our strength until we’re in hot water. -Eleanor Roosevelt, 1884-1962.

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

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