June 19, 2023, Newsletter

Dear Friends,

Tangents: Happy Monday.  It’s Juneteenth Day – the celebration of the announcement in Texas, on June 19^th, 1865, that enslaved Americans were free.

June 19, 1917: The British Royal Family, which has had strong German ties since George I, renounces its German names and titles and adopts the name of Windsor.
On June 19, 1964, the Civil Rights Act of 1964 was approved after surviving an 83-day filibuster in the United States Senate. Go to article  

1932: Hailstones kill 200 in Hunan Province, China.
Salmon Rushdie, b. 1947.
Aung San Sun Kyi, b. 1945.Blaise Pascal, philosopher, b. 1623
The heart has its reasons which reason knows nothing of. –Blaise Pascal, 1623-1662.

‘Completely unique’ Roman mausoleum discovered in rubble of London building site
No burial artifacts were recovered from the structure itself, but the surrounding area yielded over 80 Roman burials containing copper bracelets, coins, glass beads and a bone comb. Read More.

Is Africa splitting into two continents?
Will the East African Rift split the continent and create a new ocean, or will it fizzle out? Read More

Could Earth be inside a black hole?
And for that matter, could our universe be inside a black hole? Read More
PHOTOS OF THE DAY

Srinagar, Indian-controlled Kashmir
A woman walks through a lavender field in Sirhama village, south of Srinagar Photograph: Tauseef Mustafa/AFP/Getty Images.

Zhongwei, China
Visitors watch stars at a scenic spot in north-west China’s Ningxia Hui autonomous region Photograph: Xinhua/Shutterstock

Huinchiri, Peru
People from local communities participate in the annual rebuilding of the Q’eswachaka, the last remaining Inca rope bridge, as the old one drifts away in the Apurimac River.
Photograph: Christian Sierra/AFP/Getty Image
Market Closes for June 19^th, 2023

International Markets

Bonds

Currencies

Commodities

Market Commentary:
Investment success accrues not so much to the brilliant as to the disciplined. -William J. Bernstein, b. 1948.
Canada
By Bloomberg Automation
(Bloomberg) — The S&P/TSX Composite fell for the second day, dropping 0.2%, or 41.16 to 19,934.21 in Toronto.
Brookfield Corp. contributed the most to the index decline, decreasing 1.5%.
Fortuna Silver Mines Inc. had the largest drop, falling 3.2%.
Today, 130 of 229 shares fell, while 93 rose; 8 of 11 sectors were lower, led by financials stocks.
Insights
* This quarter, the index fell 0.8%
* The index advanced 5.3% in the past 52 weeks. The MSCI AC Americas Index gained 19% in the same period
* The S&P/TSX Composite is 4.4% below its 52-week high on Feb. 2, 2023 and 11.5% above its low on Oct. 13, 2022
* The S&P/TSX Composite is little changed in the past 5 days and fell 2% in the past 30 days
* S&P/TSX Composite is trading at a price-to-earnings ratio of 13 on a trailing basis and 13.6 times estimated earnings of its members for the coming year
* The index’s dividend yield is 3.3% on a trailing 12-month basis
* S&P/TSX Composite’s members have a total market capitalization of C$3.18t
* 30-day price volatility fell to 10.81% compared with 10.85% in the previous session and the average of 11.43% over the past month
================================================================
| Index Points | |
Sector Name | Move | % Change | Adv/Dec
================================================================
Financials | -14.5043| -0.2| 12/16
Industrials | -13.9196| -0.5| 11/15
Materials | -7.9131| -0.3| 19/28
Consumer Discretionary | -4.1462| -0.5| 4/11
Information Technology | -2.4793| -0.2| 6/4
Real Estate | -2.2627| -0.5| 6/15
Communication Services | -1.5833| -0.2| 1/4
Health Care | -0.0482| -0.1| 2/3
Energy | 1.2006| 0.0| 19/20
Consumer Staples | 2.1722| 0.3| 6/5
Utilities | 2.3160| 0.3| 7/9
================================================================
| | |Volume VS |
| Index | | 20D AVG |YTD Change
Top Contributors |Points Move| % Change | (%) | (%)
================================================================
Brookfield Corp | -6.7700| -1.5| -84.1| 2.4
Canadian Pacific | | | |
Kansas | -5.7230| -0.9| -81.6| 1.7
RBC | -5.0520| -0.4| -84.9| -1.5
TD Bank | 2.0460| 0.2| -66.3| -7.8
Couche-Tard | 2.1640| 0.6| -77.7| 9.5
Bank of Nova Scotia| 2.5110| 0.5| -83.3| 0.3
US
US MARKETS ARE CLOSED today for Juneteenth, National Independence Day.  It is the US’s newest federal holiday, signed into law by President Biden in 2021.

Have a  lovely evening.

Be magnificent!
As ever,

Carolann
If your actions inspire pothers to dream more, learn more, do more and become more,
you are a leader. -John Quincy Adams, 1767-1848.

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