November 27, 2019 Newsletter
Bruce Lee, actor, b. 1940
Jimi Hendrix, guitarist, b. 1942
1961 Gordie Howe becomes 1st to play in 1,000 NHL games Go to article >>
1895~ Swedish chemist Alfred Nobel’s will establishes the Nobel Prize.
THE GREEN FLASH
le rayon vert
And the sea’s skin heaves, saurian,
and the spikes of the agave bristle
like a tusked beast bowing to charge
tonight the full moon will soar floating
without any moral or simile
the wind will bend the longbows of the arching casuarinas
the lizard will still scuttle
and the sun will sink silently with a stake in its eye
bleeding behind the shrouding sail
of a skeletal schooner.
You can feel the earth cooling,
you can feel its myth cooling
and watch your own heart go out like the red throbbing dot
of a hospital machine, with a green flash
next to Pigeon Island.
-by Derek Walcott, winner of the Nobel Prize in Literature in 1992.
PHOTOS OF THE DAY
Lightning strike in the sea off the shore of Artemida, Greece.
CREDIT: VASSILIS TRIANDAFYLLOU/REUTERS
A royal Navy officer (right) alongside a guardsman, as sailors from the Royal Navy Perform the Changing of the Guard ceremony at Buckingham Palace, London, for the second time in its 357-year history.
CREDIT: KIRSTY O’CONNOR/PA
A great tit lands on a rock, with its reflection in the water surrounding it producing an almost perfect mirror image.
CREDIT: PAUL SEWER/SOLENT NEWS & PHOTO AGENCY
An artisan gives a traditional Chrismas wooden nutcracker his moustache at the Seiffener Volkskunst manfactory in Seiffen, Germany. Seiffen, a village located in the Ore Mountains close to the Czech Border, is a home to a number of manufactories that specialize in wooden Christmas ornaments and decorations.
CREDIT: SEAN GALLUP/GETTY IMAGES
Market Closes for November 27th, 2019
|Bonds||% Yield||Previous % Yield|
10 Year Bond
10 Year Bond
30 Year Bond
|WTI Crude Future||58.11||58.41|
On this day in 1991, in a voice vote not recorded by the customary roll call—so that infuriated constituents wouldn’t know for sure who was to blame—both houses of Congress passed legislation bailing out the dying savings and loan industry. The bailout bill—the Resolution Trust Corporation Refinancing, Restructuring and Improvement Act of 1991—sank another $25 billion of taxpayers’ money directly into the S&L bailout, while authorizing up to $35 billion in new borrowings to finance the government’s purchase of bad loans.
By Aoyon Ashraf
(Bloomberg) — Canadian equities rose to a record for a third straight day, led by pot stocks and the consumer sector. The S&P/TSX Composite Index rose 0.4%, or 64.69 to 17,100.57. Shopify contributed the most to the advance, measured in index points, increasing 2.2%. Hudson’s Bay had the largest percentage gain, rising 11%, after Catalyst Capital Group made a bid for the retailer. Bank of Nova Scotia was the biggest drag on the index, declining 0.4%. TMX Group had the biggest percentage decline, falling 4.7%, after saying that its board is probing allegations against the CEO.
* Western Canada Select crude oil traded at a $19.35 discount to WTI
* Spot gold fell 0.4% to $1,455.07 an ounce
* The Canadian dollar fell 0.1% to C$1.3282 per U.S. dollar
* The 10-year government bond yield rose 2.4 basis points to 1.474%
* This month, the index rose 3.7%, heading for the biggest advance since January
* This year, the index rose 19%, heading for the best year in at least 10 years
* The index advanced 14% in the past 52 weeks. The MSCI AC Americas Index gained 17% in the same period
* The Canada S&P/TSX is 0.02% below its 52-week high on Nov. 27, 2019 and 24% above its low on Dec. 24, 2018
* The Canada S&P/TSX is up 0.56% in the past 5 days and rose 4.2% in the past 30 days
By Vildana Hajric and Claire Ballentine
(Bloomberg) — U.S. equities rallied as the risk-on mood that’s driven American benchmarks to consecutive record highs showed few signs of abating. The dollar strengthened and Treasury yields rose. The S&P 500, Nasdaq Composite and Dow Jones Industrial Average closed at all-time levels for a third straight day. Data on U.S. gross domestic product and claims for unemployment beat analysts’ expectations. The Stoxx Europe 600 benchmark rose to within 1% of its record close, with 14 of 19 sector groups advancing. “There’s a lot to be thankful for in today’s GDP revision – – namely the strength of the consumer,” said Mike Loewengart, vice president of investment strategy at E*Trade Financial Corp. “If our economy is one thing, it’s resilient.” Equities climbed across Asia except in China, where data showed the economy slowing further, as investors continue to monitor developments on trade. President Donald Trump declared Tuesday that talks on the first phase of a deal were nearly done after negotiators from both sides spoke by telephone.
Investors are searching among trade developments and the final earnings-season reports for reasons to stay positive on stocks, and as a global benchmark of developing and emerging-market equities hovers just below its all-time record. “It’s been the same story for the past four to six weeks,” said Juha Seppala, director of macro asset allocation strategy for UBS Asset Management. “You have cloudy skies lifting a little bit and the sun is showing up, not fully but there are positive signs.” Elsewhere, a benchmark stock index in Australia ended the day close to a record high after the country’s central bank laid out a road map for interest-rate cuts and quantitative easing. Bitcoin turned higher after 10 straight sessions of declines, the worst streak on record.
Here are some key events coming up this week:
* The U.S. celebrates Thanksgiving on Thursday, when equity and bond markets will be shut.
* Euro area inflation for October is due Friday.
* The Bank of Korea sets policy on Friday.
These are the main moves in markets:
*The S&P 500 Index climbed 0.4% to 3,153.71 as of 4:01 p.m. New
York time, the highest on record.
*The Dow Jones Industrial Average gained 0.1% to 28,165.56, the
highest on record.
*The Nasdaq Composite Index increased 0.6% to 8,705.18, the
highest on record.
*The MSCI All-Country World Index advanced 0.3% to 549.71, the
highest in 22 months.
*The Bloomberg Dollar Spot Index gained 0.2% to 1,209.38, hitting the highest in more than six weeks with its seventh straight advance.
*The euro fell 0.2% to $1.1001, the weakest in almost seven weeks.
*The Japanese yen depreciated 0.4% to 109.55 per dollar, hitting the weakest in six months with its sixth straight decline and the largest dip in almost three weeks.
*The British pound climbed 0.4% to $1.2905.
*The yield on two-year Treasuries gained four basis points to 1.63%, the largest rise in more than two weeks.
*The yield on 10-year Treasuries advanced two basis points to 1.77%.
*Germany’s 10-year yield was unchanged at -0.37%, the lowest in more than three weeks.
*Britain’s 10-year yield advanced three basis points to 0.675%, the biggest rise in more than two weeks.
*Gold depreciated 0.5% to $1,454.88 an ounce, the weakest in more than 16 weeks on the largest fall in more than two weeks.
*West Texas Intermediate crude decreased 0.5% to $58.09 a barrel.
*Copper was unchanged at $2.70 a pound, the highest in more than two weeks.
Have a great night.
Find people who will make you better.
-Michelle Obama, b.1964
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
Toll Free: 1.877.430.5895