December 2, 2015 Newsletter

Dear Friends,

Tangents:

The Rockefeller Christmas tree, with more than 30,000 bulbs and over five miles of electrical wire, is set to be lit tonight. Meanwhile, the lighting of the U.S. Capitol Christmas tree is also tonight. (NJ.com) 

Spent a few days at The Golden Door in California last week during the American Thanksgiving holiday and one of the handouts that Gary brought back from a session he attended contains lots of good advice on managing  the days ahead.  It is entitled  “PRACTICE SAGE STRESS for the Holidays.”  Here is the advice given by Cindi Peterson, MA, C.Ht.:

KEEP IT SIMPLE

Unrealistic expectations are the primary cause of stress during the holidays.  Remember no one is perfect, so your house, gifts and food will probably not be picture perfect.  Do not expect everything to go as planned.  In other words, things do not have to be perfect for the holidays to be enjoyable.

USE HUMOR AS A COPING TOOL

When tensions rise, try to look for the humor in a situation.  A well-timed joke can go a long way to ease tensions between people. Do not be afraid to laugh at yourself.

SHIFT YOUR PERSPECTIVE

If things do not go according to plan and unexpected situations arise, try to tell yourself that some day you will look back on this and laugh.  Try to shift points of view and put the unpleasant event into a broader perspective.  Tell yourself that this is going to be a funny story someday even if it is not funny now.

YOU DESERVE A BREAK TODAY

Taking care of yourself and attending to your needs is not selfish.  Pausing for a nap sure beats collapsing from exhaustion.  Breaks can be in various forms- from exercise, to listening to music, to taking a warm bath.  Understand their value in getting you through the holidays and be sure to make time for this.  Remember self-care is not the same as selfishness!

KEEP THAT BODY MOVING

If you have an exercise routine, then do your best to stick with it.  It may mean cutting down on a few holiday-related activities, but it is well worth it in benefits, which are both physical and psychological.  If you cannot do all the things you normally do, try to find a compromise.  Be creative and involve your family members if you  must spend time with them.  Invite them to go along on a walk or to dance in the family room for a few minutes.  Anything to get people moving is beneficial.

“TOGETHERNESS”  DOES NOT MEAN 24 HOURS A DAY

Too many people try to make up in a  few days what they miss during the year.  It is simply not possible to do that.  Aim for “quality time” and not quantity time.  That means feeling free to excuse yourself to go on a walk by yourself or anything else.  A small ‘time out” can go a long way towards restoring energy, especially when one is surrounded by people, noise and activities.

JUST SAY “NO”

If the word “No” is not in your vocabulary, include it – especially if you are susceptible to saying ‘yes’ to every request for your time.  Learn to use this word often, set your limits and stick to them.  You don’t have to attend ever party you are invited to or volunteer at every holiday function.  Set priorities  so you can truly enjoy the activities you choose to attend.

STRESSED IS DESSERTS SPELLED BACKWARDS

Food and drink are certainly meant to be enjoyed during the holidays.  However, watch out for stress-related eating and drinking that can sabotage your efforts to pursue health during the rest of the year.  The first step is to become aware that holiday stress can be an important reason why people are more likely t digress from their healthy habits.  The next step is to reduce the risk of stress-related eating and drinking.  By following the suggestions above, you can reduce both your stress levels and the likelihood that you will engage in stress-related eating and drinking.

TRY TO HAVE “HOLY” DAYS

The holidays have drifted from their original intent and, for many, simply mean a time of more running around and more shopping.  Take a moment to reflect on the original intent of holidays and its significance in your life.  Even if you do not follow a particular faith, it is a good time to step back and think about the blessings in your life.

GIVE GIFTS OF LOVE

A priceless gift is one from the heart.  The worth of a gift does not come from its price tag.  The worth comes from truly making someone happy by a simple gesture or token.  Homemade baked goods, crafts and a kind word or poem will be remembered far longer than a costly gift – for it is a gift of yourself given from the heart.

THE HOLIDAYS TOO SHALL PASS.

If the stress gets to be too much and you just cannot find a way to reduce it any way, then remind yourself that the holidays too shall pass and soon you will be able to return to your routine.  And with these tips in hand, you will be well equipped to plan ahead for the next season, so that you maximize our holiday joy and minimize your holiday stresses.

PRACTICE MINDFULNESS

When you start to feel overwhelmed, come back to NOW and ask yourself what is the first thing you have to do.  Usually it is breathe deeply.  Ruminating about yesterday or worrying about tomorrow serves no purpose.  Instead, savor every moment of the holiday season.

PHOTOS OF THE DAY

First lady Michelle Obama chats with children of military families as they gather to enjoy holiday decorations and treats at the White House in Washington Wednesday. Mike Theiler/Reuters

A seagull lands on the artwork ‘Where the Tides Ebb and Flow,’ by Argentinian artist Pedro Marzorati, installed in a pond at Montsouris Park during COP21, the United Nations Climate Change Conference, in Paris Wednesday. Francois Mori/AP

A screen shows visitors filmed with the FLIR GF320 Infrared Camera at the System Control Fair, SCF 2015, in Tokyo Wednesday. Thomas Peter/Reuters

Market Closes for December 2^nd, 2015

International Markets

Bonds

Currencies

Commodities

Market Commentary:

Canada

By Eric Lam

     (Bloomberg) — Canadian stocks fell the most in three weeks, halting the best two-day advance in two months, as a rout in oil sparked a selloff in commodities shares.

     Energy producers dropped 2.8 percent as a group to lead equities lower. Crude futures fell to a six-year low in London and 4.6 percent to settle at $39.94 a barrel in New York on signs of discord among ministers from the Organization of Petroleum Exporting Countries. Oil has slumped about 40 percent since Saudi Arabia led OPEC’s decision a year ago to maintain output and defend market share against higher-cost shale producers.

     The Standard & Poor’s/TSX Composite Index fell 172.24 points, or 1.3 percent, to 13,463.82 at 4 p.m. in Toronto, after a two-day rally of 2 percent. The benchmark equity gauge has dropped 8 percent this year, trailed only by Singapore and Greece among developed markets.

     The Bank of Canada kept its key interest rate unchanged at 0.5 percent, where it’s been since July. All 33 economists in a Bloomberg survey predicted no move. The Canadian economy is undergoing a “complex and lengthy adjustment” as non-energy exports and the weaker currency help to contain the damage from lower oil prices, Governor Stephen Poloz said in a statement.

     Royal Bank of Canada was little-changed, paring an earlier gain. Fiscal fourth-quarter profit rose 11 percent as a jump in trading revenue and a lower tax rate helped counter slowing earnings growth from Canadian banking and declines across other key businesses.

     National Bank of Canada lost 0.5 percent, erasing earlier gains after raising its dividend 3.8 percent amid an increase in fourth-quarter profit. Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Canadian Western Bank report tomorrow. A gauge of the nation’s largest lenders has lost 4.4 percent this year, on track for the first annual decline since 2011.

     Energy and raw-materials producers, which account for about 30 percent of the index, have each slumped more than 21 percent this year and are the second and third worst-performing industries in the S&P/TSX ahead of health-care stocks.

     A combination of slowing economic growth in China and a rally in the U.S. dollar with impending interest-rate increases from the Federal Reserve as soon as Dec. 16 have crimped commodities prices this year.

US

By Oliver Renick

     (Bloomberg) — U.S. stocks fell as tumbling oil prices sparked a broader selloff in equities, while Federal Reserve Chair Janet Yellen laid the groundwork for a December interest- rate boost by signaling increased confidence in the economic outlook.

     Equities continued a pattern of alternating between gains and losses that led the S&P 500 in November to its narrowest monthly move in six years. Energy producers today dropped the most in two months as crude fell below $40 a barrel for the first time since August, and raw-material shares had their biggest slide in three weeks. Technology companies erased early gains as Qualcomm Inc. and Yahoo! Inc. trimmed their rallies.

     The Standard & Poor’s 500 Index declined 1.1 percent to 2,079.51 at 4 p.m. in New York, reversing yesterday’s 1.1 percent surge to open the month. The Dow Jones Industrial Average lost 158.67 points, or 0.9 percent, to 17,729.68. The Nasdaq Composite Index dropped 0.6 percent after earlier rising as much as 0.4 percent. About 7.4 billion shares traded hands on U.S. exchanges, 4 percent above the three-month average.

     “Yellen didn’t say anything miraculous that’s pushing the market down,” said Yousef Abbasi, global market strategist at JonesTrading Institutional Services LLC in New York. “We floated up yesterday really on just air and seasonality dictating that December is a higher month. With the combination of the meltdown in commodities we’re seeing today, the Euro CPI number sending the U.S. dollar higher, the data with regard to employment and Yellen’s tone, reality is setting in here.”

     The S&P 500 extended losses in afternoon trading as crude’s decline accelerated before an OPEC meeting Friday. As three days of economic events likely to set the course for global markets into 2016 kicked off, a renewed rout in crude distracted traders from their focus on the looming divergence in monetary policy as OPEC has shown few signs it will vote to trim output. The Bloomberg Commodity Index fell the most in three months.

     In a speech delivered at the Economic Club of Washington, Fed Chair Yellen said she’s increasingly confident that the economy is growing sufficiently to achieve labor-market improvement and higher inflation. She also warned that waiting too long to end the era of near-zero interest rates could force the central bank to tighten too quickly, which would risk disrupting financial markets and the six-year expansion.

     Fed officials have been trying to gauge whether the economy is headed toward their goals and can sustain growth as rates increase. Atlanta Fed President Dennis Lockhart said earlier today he favors raising rates this month, absent any information that “drastically” changes the economic outlook. San Francisco Fed President John Williams joined Yellen in warning of risks in delaying liftoff. The Fed chair is scheduled to testify Thursday on the outlook before Congress’s Joint Economic Committee.

     In a speech Tuesday night, Fed Governor Lael Brainard urged her colleagues at the central bank to move cautiously as they raised rates and to expect the Fed’s benchmark to top out at a lower level than in previous economic expansions. Traders are pricing in 72 percent odds the Fed will liftoff when its next two-day meeting concludes on Dec. 16.

     Meanwhile, major central bank policies are set to diverge as European Central Bank President Mario Draghi has been priming markets for action since October. Economists surveyed by Bloomberg unanimously predict the ECB will boost stimulus again at its meeting tomorrow, while the bank is less than halfway through a 1.1 trillion-euro ($1.2 trillion) bond-buying program.

     Before the government’s jobs report on Friday, data today showed U.S. private payrolls grew more than expected, with companies adding 217,000 workers in November in a sign the labor market continues to strengthen. The Fed’s Beige Book survey said the economy expanded modestly across most of the U.S. in October and November amid rising consumer spending.

     The S&P 500 has rebounded 11 percent from its low in August on growing confidence that the economy is sturdy enough to handle higher borrowing costs. The benchmark is up 1 percent for the year, and has alternated between gains and losses over the last 12 sessions, the longest such streak since 2013. The gauge hasn’t had back-to-back advances since Nov. 3.

     The Chicago Board Options Exchange Volatility Index added 8.5 percent Wednesday to 15.91, wiping out most of yesterday’s 9 percent slide to a three-week low. The measure of market turbulence known as the VIX finished November up 7 percent, its first monthly increase since a record jump in August.

     All of the S&P 500’s 10 main industries fell, an about-face after yesterday’s across-the-board gains, with six groups sinking more than 1 percent. Energy lost 3.1 percent and utilities dropped 2.2 percent. Technology shares sagged 0.6 percent after earlier rising as much as 0.5 percent.

     Energy companies retreated for the first time in three days as West Texas Intermediate crude fell 4.6 percent amid ample stockpiles and signs of discord as ministers from the Organization of Petroleum Exporting Countries arrive in Vienna to discuss production policy.

     Kinder Morgan Inc. dropped 7.9 percent to all-time low, sliding more than 4 percent for a second day after the largest U.S. pipeline owner had its credit outlook lowered after agreeing to increase its stake in an affiliate that Moody’s Investors Service said is at risk of default. Oneok Inc. and Murphy Oil Corp. fell at least 6.7 percent, while Exxon Mobil Corp. sank 2.9 percent, the most in the Dow.

     NRG Energy tumbled 13 percent, the most in the S&P 500, to an 11-year low. The company said it’s selling two generating stations for $138 million as part of its “asset rebalancing program.” Citigroup Inc. yesterday initiated coverage of the shares with a sell rating.

     Qualcomm gained 5.2 percent, paring an earlier 8.4 percent gain, after signing a patent licensing agreement with Chinese smartphone company Xiaomi. Yahoo rose 5.8 percent, the best performer in the S&P 500, as the company was said to consider a potential sale of its main Internet business.
 

Have a wonderful evening everyone.

Be magnificent!

Meditation is one of the greatest arts in life, perhaps the greatest,

and one cannot possibly learn it from anybody else,

that is the beauty of it.

It has no technique and therefore no authority.

When you learn about yourself, watch yourself, watch the way you walk,

how you eat, what you say, the gossip, the hate, the jealousy –

if you are aware of all that in yourself, without any choice,

that is part of meditation.

Krishnamurti

As ever,

Carolann

We are what we repeatedly do.  Excellence, then, is not an act, but a habit.

                                                                  -Aristotle, 384 BC- 322 BC

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM

Portfolio Manager &

Senior Vice-President

Queensbury Securities Inc.,

St. Andrew’s Square,

Suite 340A, 730 View St.,

Victoria, B.C. V8W 3Y7