December 13. 2019 Newsletter

Dear Friends,

Tangents: Happy Friday!

-from CNN:
It’s Friday the 13th!
Burn some sage and learn about why we’re so spooked out by this date. 

This luxury yacht turns into a submarine 
For when being rich gets to be too much and you just want to sink below the sea.

-from today’s New York Times:

The horror novelist Stephen King is a triskie. He’s also a friggatriskaidekaphobe. Or, if you prefer, a paraskavedekatriaphobe.

While a triskie — a triskaidekaphobe, that is — is creeped out by the number 13, the other two are terrified of Friday the 13th. Like today.

Mr. King wrote an article for The Times in 1984 listing some unlucky Friday the 13ths in history, and explaining that when he reads a book, he won’t stop on page 94, page 193 — or any page whose digits add up to 13. “It’s neurotic, sure,” he conceded. “But it’s also … safer.” Other friggatriskies:

■ Franklin Roosevelt. (He was acutely afraid of the number 13 and would avoid traveling on Friday.)

■ Sholom Aleichem, the Yiddish author and playwright who created the character Tevye from “Fiddler on the Roof.” (His manuscripts never had a page 13; he would number it 12a.)

■ And the Austrian-American composer Arnold Schoenberg, whose fear came true: He died on a Friday the 13th in 1951.

PHOTOS OF THE DAY

A bushy-tailed squirrel roaming through British woodland leaps into the air while clutching a nut in its mouth. The small rodent carefully grips the hazelnut between its teeth as it leaps away to enjoy its latest find. Stretching as it darts across mossy earth, the red squirrel’s reflection gently shimmers in the pool of water in woodland near the town of Kirkcudbright, in Dumfries and Galloway, Scotland. Amateur photographer Dr Hamad Bouresli was keeping cover in a bird photography hide when he managed to capture the shots of squirrel.
CREDIT: DR HAMAD BOURSELI/SOLENT NEWS & PHOTO AGENCY

Frankie Hayward, principal dancer of the Royal Ballet and actress in forthcoming Cats movie poses for a photograph, after rehearsal at the Royal Opera House in London, Britain.
CREDIT: REUTERS/SIMON DAWSON

Britain’s Prime Minister Boris Johnson holds his dog, Dilyn, as he leaves a polling station, at the Methodist Central Hall, after voting in the general election in London, Britain.
CREDIT: REUTERS/DYLAN MARTINEZ

Market Closes for December 13^th, 2019  

International Markets

Bonds

Currencies

Commodities

Market Commentary:
The British pound rallied as Prime Minister Boris Johnson’s Conservative Party secured a solid election victory, setting the stage for a January Brexit. The pound surged to its highest level since May 2018, hitting $1.3515. By late morning London time on Friday it stood at $1.3383.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite rose for the second day, climbing 0.3 percent, or 56.23 to 17,003.13 in Toronto. The index advanced to the highest closing level since Nov. 29. Shopify Inc. contributed the most to the index gain, increasing 3.8 percent. Enghouse Systems Ltd. had the largest increase, rising 20.6 percent. Today, 145 of 232 shares rose, while 76 fell; 8 of 11 sectors were higher, led by financials stocks.
Insights
* So far this week, the index was little changed
* This quarter, the index rose 2.1 percent
* This year, the index rose 19 percent, heading for the best year in at least 10 years
* The index advanced 15 percent in the past 52 weeks. The MSCI AC Americas Index gained 19 percent in the same period
* The S&P/TSX Composite is 0.7 percent below its 52-week high on Nov. 28, 2019 and 23.4 percent above its low on Dec. 24, 2018
* S&P/TSX Composite is trading at a price-to-earnings ratio of 17.2 on a trailing basis and 15.9 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3 percent on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$2.61t
* 30-day price volatility fell to 4.85 percent compared with 4.93 percent in the previous session and the average of 4.62 percent over the past month
================================================================
|Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | 31.6039| 0.6| 20/5
Materials | 17.2512| 0.9| 33/14
Information Technology | 15.0064| 1.6| 7/2
Industrials | 6.5555| 0.3| 25/5
Utilities | 2.4148| 0.3| 11/5
Energy | 0.7802| 0.0| 17/12
Real Estate | 0.1811| 0.0| 15/8
Consumer Discretionary | 0.1185| 0.0| 6/10
Health Care | -2.5043| -1.1| 5/5
Consumer Staples | -6.0971| -0.9| 4/6
Communication Services | -9.0724| -1.0| 2/4

* The benchmark 10-year bond rose and the yield fell 9 basis points to 1.579 percent

US
By Luke Kawa and Vildana Hajric
(Bloomberg) — U.S. stocks ended a tumultuous session higher with major benchmarks notching records as investors attempted to assess the contours of a partial deal reached between the U.S. and China. Stocks swung between gains and losses throughout the day, while Treasuries surged as neither side delivered enough details to calm investors who sent shares to records Thursday on reports fresh tariffs due Sunday have been averted. President Donald Trump confirmed as much Friday, but it remained unclear whether China agreed to enough agricultural purchases or if the U.S. had planned to roll back some existing tariffs. The S&P 500 eked out a gain, rising for the ninth week out of the last 10, after Trump signaled he’d cut in half the tariffs that took hold in September. The U.S. will maintain levies that began in the spring. The 10-year Treasury yield fell below 1.82%.
“Both sides now seem to be negotiating in public,” Matt Maley, an equity strategist at Miller Tabak & Co., said. “The uncertainty makes it impossible to make concrete investment decisions. These negotiations have turned into a circus.” The dollar was steady against major peers after U.S. retail sales data fell short of estimates. West Texas crude and gold advanced. The fresh trade headlines overshadowed the U.K. election that puts the country on track to leave the European Union next month. The FTSE 100 index rose more than 1% and the pound surged.
These are the main moves in markets:
Stocks
* The S&P 500 Index rose 0.01% at 4 p.m. New York time.
* The Nasdaq 100 added 0.2%.
* The Stoxx Europe 600 Index advanced 1.1%.
* The U.K.‘s FTSE 100 Index rose 1.1%.
* The MSCI Asia Pacific Index gained 1.6%.
Currencies
* The Bloomberg Dollar Spot Index was flat.
* The British pound increased 1.3% to $1.3338.
* The euro dropped 0.1% at $1.1114.
* The Japanese yen was steady at 109.31 per dollar.
Bonds
* The yield on 10-year Treasuries fell seven basis points to 1.82%.
* The two-year yield fell six basis points to 1.60%.
* Germany’s 10-year yield lost one basis point to -0.279%.
* Britain’s 10-year yield gained three basis points to 0.845%.
Commodities
* West Texas Intermediate crude advanced 1.3% to $59.97 a barrel.
* Gold futures rose 0.6% to $1,480.70 an ounce.
–With assistance from Cormac Mullen.
Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Things work out best for those who make the best of how things work out.
                                                                       -John Wooden, 1910-2010

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