January 03, 2019 Newsletter

Dear Friends,

Tangents:  Happy Friday!

Memento Mori Day (Latin: Remember you die).
1961 – The United States severed diplomatic relations with Cuba. Go to article »

Here’s an interesting article for you:
     A trip to the theater, museum or art gallery could help you live longer. And the more often you get that culture fix the better, a new study suggests.
Researchers from University College London (UCL) found that people who engaged in the arts more frequently — every few months or more — had a 31% lower risk of dying early when compared to those who didn’t. Even going to the theater or museum once or twice a year was linked with a 14% lower risk. They looked at data given by more than 6,000 adults in England age 50 years and older, who were taking part in a wider study on aging.
     “While other health behaviors like smoking, alcohol and exercise are undoubtedly bigger predictors of mortality, these leisure and pleasure activities that people don’t think as a health related activity do support good health and longevity,” said Daisy Fancourt, an associate professor at UCL’s Research Department of Behavioural Science and Health, and an author of the study, published Wednesday in the BMJ journal. How often an individual engaged in art activities, which also included exhibitions, concerts and opera but not cinema, was measured at the start of the study in 2004 to 2005. Participants were then followed up for an average of 12 years, during which time deaths were recorded using data from the UK’s National Health Service (NHS.)
Why?
     The study looked at a range of economic, health and social factors to try and explain why there is a link between “arts engagement” and living longer, although as an observational study it can’t establish cause. Part of the reason, the study said, comes down to social and economic differences among those who go and don’t go to museums, exhibitions and art galleries. Wealth, they found, explained about 9% of the association. Cognitive differences, social and civic engagement, mental health, mobility and disability and deprivation also played a role. Things like free time and occupational status made no material difference, said Fancourt.
     “Part of the association is attributable to differences in socioeconomic status among those who do and do not engage in the arts, which aligns with research that suggests engagement in cultural activities is socially patterned,” the study said. However, said Fancourt, “over half the association is independent of all the factors we identified that could explain the link.” She said that engaging with the arts can act as a buffer against stress and build creativity that allows people to adapt to changing circumstances. It also helps people build social capital — accessing emotional support and information that helps people age more successfully.
     “We also thought that a greater sense of purpose could play a role,” she said. “If this (study) is added to the larger body of evidence, we are getting an increasingly rich picture on how arts can benefit health and it’s not about one single outcome. It can have wide ranging benefits and support healthier lives lived longer.”
This study did not look at the effects of taking part in art-related activities but a World Health Organization review of available evidence published earlier this year found that both receptive participation, like visiting a museum, and active participation, like singing in a choir, had health benefits. An editorial that accompanied the paper said that everyone should have the chance to take part in cultural activities and said the study added weight to growing concerns about the decline in arts subjects in schools and universities.
     “Clinicians who read the paper might recognize the value of the arts, but will also wonder how engagement with culture and the arts could influence longevity,” the editorial said.
“There is already much published work about the positive neurophysiological changes induced by activities, including the arts, which enable ‘deep play’ or ‘flow.’ However, as the authors note, further research is needed into the possible mechanisms that link cultural engagement with longer life.” Written by Katie Hunt, CNN

PHOTOS OF THE DAY

Participants attend the 100^th anniversary of Vancouver Polar Bear Swim at English Bay in Vancouver, Canada.
CREDIT: MERT ALPER DERVIS/ANADOLU AGENCY VIA GETTY IMAGES

The unseasonably warm weather continues as the morning sun rises over the historic landmarks along the promenade in Southport on Merseyside.
CREDIT: CERNAN ELIAS/ALAMY LIVE NEWS

“Carmelised” snow caused by dust from Australian bushfires is seen near Franz Josef glacier in the Westland Tai Poutini National Park, New Zealand.
CREDIT: REUTERS

Market Closes for January 03^rd, 2020 

International Markets

Bonds

Currencies

Commodities

Market Commentary:
On this day in 2001, the Federal Reserve lowered the Fed funds rate from 6.5% to 6%, and Wall Street went nuts over the surprising slash in the cost of borrowing. Analysts who one year earlier were insisting that interest rates were irrelevant to the value of tech stocks declared the interest rate cut to be “very significant,” and the Nasdaq rocketed to its best day ever, gaining 14.17% as its daily trading volume surpassed 3 billion shares for the first time.
Canada
By Aoyon Ashraf
(Bloomberg) — Canadian stocks ended the first week of 2020 lower after mounting tension between the U.S. and Iran saw investors hitting the sell button globally. Soaring oil and gold prices weren’t enough to offset the decline. Investors flocked to defensive stocks as real estate and utilities were the best performing sectors in Toronto. Energy stocks also gained as oil climbed. Meanwhile, gold rallied but failed to pull gold stocks with it. The S&P/TSX Composite Index fell 0.2% to 17,066.12. Health- care stocks led the market lower, as 7 of 10 sectors fell. Industrial metal miners were among the decliners as metals such as copper, aluminum slumped. First Quantum Minerals contributed the most to the index decline and had the largest move, decreasing 6.4%. Canadian Natural Resources provided the biggest boost to the index, advancing 0.8%. MEG Energy had the biggest gain, rising 4.2%.
Commodities
* Western Canada Select crude oil traded at a $22.90 discount to WTI
* Spot gold rose 1.3% to $1,548.91 an ounce
FX/Bonds
* The Canadian dollar weakened 0.06% to C$1.2988 per U.S. dollar
* The 10-year government bond yield fell 5.6 basis points to 1.535%
US
By Sarah Ponczek and Vildana Hajric
(Bloomberg) — U.S. stocks slumped as investors fretted that an escalation in Middle East tensions could dent global growth. Oil jumped along with assets seen as havens. The S&P 500 Index posted its biggest loss in a month after a U.S. airstrike killed a top Iranian commander and the Middle Eastern country vowed “severe retaliation.” A search for safety drove gains in gold, the yen and Treasuries. Oil jumped the most in four weeks, but was off its peak for the day. The developments in the Middle East dented a bullish mood that had pushed the S&P 500 Index to a record high Thursday after a blockbuster 2019. Traders had returned from holidays to the news that China’s central bank had moved to support the economy and President Donald Trump expected to sign the first phase of a trade deal with the Asian nation on Jan. 15. Beijing has yet to confirm the date.
“Markets were seeking a catalyst for taking a break after the long run, and they got it,” said Nathan Thooft, Manulife Asset Management’s head of global asset allocation. “Unless the escalation is severe and repeated, I see this as a temporary scare. Obviously the risk is it delays the global recovery as well as dents sentiment and thus earnings.” The Stoxx Europe 600 Index ended lower. Most shares in Asia slumped, though equities in Japan didn’t trade because of a holiday. A gauge of developing-nation stocks joined the sell- off. Equity markets in the Middle East were largely closed for the weekend. These are the moves in major markets:
Stocks
* The S&P 500 Index fell 0.7% at the close of trading in New York.
* The Stoxx Europe 600 Index decreased 0.3%.
* The MSCI Asia Pacific Index slumped 0.1%.
Currencies
* The Bloomberg Dollar Spot Index rose 0.1%.
* The euro fell 0.1% to $1.1161.
* The British pound dipped 0.6% to $1.3073.
* The Japanese yen gained 0.5% to 108.07 per dollar.
Bonds
* The yield on 10-year Treasuries fell eight basis points to 1.79%, a one-month low.
* Germany’s 10-year yield dropped six basis points to -0.29%.
* Britain’s 10-year yield dipped five basis points to 0.74%.
Commodities
* West Texas Intermediate crude increased 3% to $63.01 a barrel.
* Gold rose 1.3% to $1,548.64 an ounce, the highest since September.
–With assistance from Gregor Stuart Hunter, Alexander Kwiatkowski, Joanna Ossinger, Adam Haigh, Anooja Debnath and Sam Potter.

Have a wonderful weekend everyone.

Be magnificent!
As ever,

Carolann

Art does not reproduce the visible; rather, it makes visible.
                                                 -Paul Klee, 1879-1940

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
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