A quiet morning after a decent up day yesterday. Some selling overnight in Asia and at midday in Europe into the Fed meeting today. Asia was down about a half a point and Europe is off a quarter point.
The US futures are trading slightly lower on what will be a light day until the minutes of the meeting are released tomorrow which will indicate whether the QE will be tapered.
Canadian futures are slightly lower.
Gold is off 3.00 to 1314, oil is trading down half a buck to 104.25 and the loonie is slightly higher at 96.93. The US and Canadian 10 year bonds are a little stronger this morning with yields at 2.83% and 2.75% respectively.
German investor confidence once again rose last month, however inflation in the UK was lower. The region is stabilizing however at a slow pace.
In Canada today is the last day for the telecom companies to submit bids for the available wireless spectrum. Of course all the big boys are in and Wind Mobile has submitted their deposit to bid. The small company, it would seem is the governments only current hope for a fourth competitor in the wireless space. It will be interesting to see how the bids are fair. More to come.
|Kenneth A. Dick, BA, CIM, CFP, FCSI
Branch Manager & Portfolio Manager | Independent Wealth Management
Canaccord Genuity Wealth Management