July 4, 2018 Newsletter

Dear Friends,

Tangents:
On July 4, 1976, the United States celebrated its Bicentennial. In 1776, the Continental Congress adopted the Declaration of Independence.
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PRIME NUMBERS:

297 BILLION
Global investment (in US dollars) in renewable energy in 2016, more than twice the $143 billion spent on fossil fuels and nuclear power.

40 BILLION
Value (in US $) wiped from cryptocurrencies June 9-11 after a hack of south Korean cryptocurrency exchange Coinrail sparked a sell-off.

200 QUADRILLION
Mathematical calculations (per second) that the world’s fastest supercomputer, Summit, can perform.  A person doing one such calculation per second would have to live for 6.3 billion years to do what Summit can do in one second.
Source: CSM, The Street, NPR, The New York Times.

PHOTOS OF THE DAY

People view Ryoji Ikeda’s latest installation ‘Mico / Macro” at Carriageworks in Sydney, Australia. Credit: Don Arnold Wireimage

A model walks the runway during the Schiaparelli Haute Couture Fall-Winter 2018/2019 show as part of Paris Fashion Week. Credit: Stephane Cardinale-Corbis/Getty

The launch of Frieze Sculpture, in regents Park. One of the largest outdoor exhibitions in London. Work by 25 leading international artists from across five continents. Rana Begum with her work Np. 814, 2018 Coloured laminated glass panels. Credit: Geoff Pugh for the Telegraph
Market Closes for July 4^th, 2018

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Canada
By Stefanie Marotta
     (Bloomberg) — Canadian stocks rose after two days of positive developments in the oil patch.
     The S&P/TSX Composite Index rose 0.3 percent to 16,304.72 points. MEG Energy Corp. soared 4.2 percent after Eight Capital said Canada’s oil sands is on the cusp of a “renaissance,” and pointed to the stock as its top pick. Positive pipeline news lifted the sector on Tuesday.
     Enbridge Inc. rose 1.21 percent after selling its midstream assets to Brookfield Asset Management Inc. for C$4.31 billion ($3.3 billion), reducing its debt load.
     In other moves:
     Stocks
* Bombardier Inc. fell amid reports that the Toronto Transit Commission would need to return 67 of the manufacturer’s streetcars for repair
* Valeant Pharmaceuticals International Inc. lead gains in health care, rising 2.5 percent.
     Commodities
* Western Canada Select crude oil traded at a $21.00 discount to WTI
* Gold rose 0.4 percent to $1,258.10 an ounce
     FX/Bonds
* The Canadian dollar weakened 0.04 percent to C$1.31441 per U.S. dollar
* The Canada 10-year government bond yield rose two basis points to 2.16 percent
US
US markets closed for Independence Day.

Have a great night.

Be magnificent!

As ever,

Carolann

Science is what your know; philosophy is what you don’t know.
                                           -Bertrand Russell, 1872-1970

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