May 18, 2018 Newsletter

Dear Friends,

Tangents:  Happy Friday!  🙂
On May 18, 1980, the Mount St. Helens volcano in Washington state exploded, leaving 57 people dead or missing.
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An 80-year Harvard study claims to have found the gateway to happiness
This study started tracking 268 Harvard sophomores in 1938 during the Great Depression
Published: May 18, 2018
There are some things that money can’t buy. True friends and happiness are among them. In fact, an 80-year-long study at Harvard University claims good pals are the key to a happy life.
Scientists began tracking the health of 268 Harvard sophomores in 1938, and have continued the study over the past eight decades. The original participants included President John F. Kennedy and long-time Washington Post editor Ben Bradlee, according to the Harvard Gazette. The study originally only included men, as Harvard didn’t admit women at that time, but the ongoing research has expanded, and now includes 1,300 of the original participants’ offspring. In the 1970s, 456 Boston inner-city residents were added to the study.
“The surprising finding is that our relationships and how happy we are in our relationships has a powerful influence on our health,” Robert Waldinger, director of the study and a professor of psychiatry at Harvard Medical School, told the Harvard Gazette. “Taking care of your body is important, but tending to your relationships is a form of self-care too. That, I think, is the revelation.” That, he said, is more important than money or fame. “Loneliness kills,” he added. “It’s as powerful as smoking or alcoholism.”
This is backed up by previous research on the subject. Loneliness is actually considered a public health hazard just like obesity, separate research presented at the American Psychological Association annual conference last year found. It analyzed 148 studies, covering 300,000 participants. People with greater social connections had a 50% reduced risk of dying early. Other research involving 70 studies and 3.4 million people in North America, Europe, Asia and Australia concluded that social isolation, loneliness or living alone were all linked to premature death.
Still, other studies suggest money helps. Psychologists from Purdue University and the University of Virginia analyzed World Gallup Poll data from 1.7 million people in 164 countries, and cross-referenced their earnings and life satisfaction. Although the cost and standard of living varies across these countries, researchers came up with a bold conclusion: The ideal income for individuals is $95,000 a year for life satisfaction and $60,000 to $75,000 a year for emotional well-being. Families with children, of course, will need more.
Don’t miss: This 88-year-old has some advice about staying young — and happy
In fact, the risk of dying earlier jumps 50% when you have a sudden loss of wealth, according to a 20-year study of 8,000 adults 50 years and older released earlier this month by Northwestern Medicine and the University of Michigan. Some theories as to why: Medical care becomes less affordable and the ability to pursue one’s dreams and explore further education may also be impacted by a sudden loss of wealth. What’s more, a sudden loss of wealth could also lead to more social isolation and the inability to afford to travel and do the same kinds of things with friends.
Isolating ourselves from others with technology can have long-term effects. Sixth grade children who spent five days at a summer camp without technology had significantly improved emotional cognition — recognizing different emotions in others — than those who spent 4.5 hours a day at home texting, watching TV and gaming, a 2014 study of 100 kids published in the journal Computers in Human Behavior. Understanding emotion and socialization skills are critical, says Yalda Uhls, co-author and senior researcher at the Children’s Digital Media Center at UCLA.
PHOTOS OF THE DAY

David Hockney’s Pacific Coast Highway and Santa Monica as two of his pieces sold for more than 40.1 million dollars (£29.6m). Credit: Sotheby’s/PA

An amazing double rainbow over New York City. Credit: Jennifer Khordi/Cater News

Members of “Boi Tinga”, Brazil, dance during a performance for visitors at Jardim da Praca do Imperio during the XIII International Festival of the Iberian Mask in Lisbon, Portugal. The XIII International Festival of the Iberian Mask takes place from 17 – 20 May, and it’s aim is to raise awareness of the cultural links between Portugal and Spain with the masks as it’s main theme. Credit: Horacio Villalobos – Corbis Via Getty Images
Market Closes for May 18^th, 2018

International Markets

Bonds

Currencies

Commodities

Market Commentary:
$~On this day in 2012, Facebook Inc. began trading on the Nasdaq after its public offering priced the shares at $38 apiece. The stock price sputtered in glitchy trading, forcing bankers to step in and prop it up.

Number of the Day
271
The number of digital coin offerings with red flags, including plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams, in a Wall Street Journal review of 1,450 offerings.
Canada
By Kristine Owram
     (Bloomberg) — Canadian stocks eked out an 11th straight gain, coming within one day of matching the 12-day winning streak set in February 2014, amid lighter-than-usual trading volume ahead of a long weekend.
     The S&P/TSX Composite Index rose 19 points or 0.1 percent to 16,162.31 Friday. The gain for the week was 1.1% percent, the sixth consecutively weekly gain.
     Health-care stocks were the biggest gainers, adding 4.3 percent as cannabis shares jumped. Aurora Cannabis Inc., which has been on an acquisition spree, rose 10 percent.
     Financials slid 0.2 percent ahead of bank earnings next week. Energy stocks also fell 0.2 percent.
     In other moves:
                          Stocks
* Enbridge Inc. lost 1.8 percent. The company said it isn’t in talks to buy the Trans Mountain pipeline from Kinder Morgan Canada Ltd.
* ATS Automation Tooling Systems Inc. rose 3.6 percent to the highest since 2002, the second day of gains following strong quarterly results
* Husky Energy Inc. added 1.3 percent after announcing discoveries offshore China and Canada
                          Commodities
* Western Canada Select crude oil traded at a $17.40 discount to WTI
* Gold rose 0.2 percent to $1,291.70 an ounce
                           FX/Bonds
* The Canadian dollar weakened 0.6 percent to C$1.28800 per U.S. dollar after retail sales excluding autos missed estimates
* The Canada 10-year government bond yield fell 3 basis points to 2.49 percent
–With assistance from Morwenna Coniam.
US
By Joe Easton and Jeremy Herron
     (Bloomberg) — U.S. stocks fell in light trading, the dollar rose and Treasury yields retreated as investors assessed conflicting signals on trade talks between the world’s two largest economies.
     The S&P 500 Index edged lower on volume 8 percent below the 30-day average, adding to a weekly loss. Technology shares slid after Applied Materials Inc. reported weak results. Small caps pushed to a fresh record as the dollar headed for its strongest week since 2016. Brent crude held below $80 a barrel and gold halted a slide. The 10-year yield fell below 3.1 percent.
    In Europe, the common currency fell and Italian 10-year bond yields jumped to the highest since October amid uncertainty over the Five Star Movement-League coalition’s policy platform as they attempt to form a government. The region’s major equity benchmark pared an eighth straight weekly advance.
     Investors are closely watching progress on the latest China-U.S. trade talks for signs of a breakthrough that could reignite a recent rally in global equities, while factoring in oil prices at a four-year high and a 10-year Treasury yield now firmly above 3 percent. Politics in peripheral Europe are also back in the spotlight after Italy’s populist leaders sealed a coalition agreement and a plan for reforms seen as a challenge to the European Union establishment.
     The Turkish lira weakened to a fresh record as emerging market currencies headed for their biggest weekly slump since November 2016.
     These are the main moves in markets:
                           Stocks
* The S&P 500 fell 0.2 percent at 4 p.m. in New York. The index is down 0.5 percent in the five days.
* The Dow Jones Industrial Average rose 0.1 percent. It fell 0.4 percent in the week.
* The Stoxx Europe 600 Index dipped 0.3 percent. It rose 0.6 percent, an eight straight advance.
* The MSCI Asia Pacific Index increased 0.1 percent.
* The MSCI Emerging Market Index declined 0.6 percent to the lowest in more than a week.
                           Currencies
* The Bloomberg Dollar Spot Index climbed 0.3 percent to the highest in more than 20 weeks.
* The euro decreased 0.2 percent to $1.1768, hitting the weakest in five months with its fifth consecutive decline.
* The British pound declined 0.3 percent to $1.3479.
* The Japanese yen rose 0.1 percent to 110.705 per dollar, halting a four-day slide.
                           Bonds
* The yield on 10-year Treasuries fell five basis points to 3.0633 percent, the first retreat in more than a week. The rate topped 3.11 percent earlier in the five days, the highest since 2011.
* Germany’s 10-year yield decreased one basis point to 0.63 percent.
* Britain’s 10-year yield declined six basis points to 1.50 percent, the biggest fall in two weeks.
                           Commodities
* West Texas Intermediate crude slipped 0.3 percent to settle at $71.28 a barrel. Crude in London posted a sixth straight weekly gain, the longest since 2011.
* Gold futures added 0.2 percent to $1,292.10 an ounce.
–With assistance from Cormac Mullen.

Have a great weekend.

Be magnificent!

As ever,

Carolann

When your work speaks for itself, don’t interrupt.
                         -Henry J. Kaiser, 1882-1967

Carolann Steinhoff, B.Sc., CFP®, CIM, CIWM
Senior Investment Advisor

Queensbury Securities Inc.,
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Suite 340A, 730 View St.,
Victoria, B.C. V8W 3Y7

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