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Market Commentary – Lets Get Technical

The key release for today is Canadian Q3 GDP from an Maple Ridge / Mission point of view.  It surprised to the upside, expanding at an annualized rate of 2.7%, its best performance in two years.  That beat forecasts by 0.2%.  The increase was led by mining and oil and gas extraction.   

 

Job stats top the list of releases in Canada and the U.S. today. Statistics Canada's report for November shows 21,600 jobs were created in the month, well of above the 12,000 forecast.  Fourteen hundred of the jobs were full-time, 20,000 were part-time and virtually all of them were in the self-employed category.  The unemployment rate remains unchanged at 6.9%.

  

In the U.S. the November non-farm payrolls report clocked-in with 203,000 new jobs.  That beat expectations for an increase of 180,000.  The unemployment rate fell to 7%, a drop of 0.3%.

 

Consumer sentiment in the U.S. appears to be catching up to the stronger economic numbers.  The University of Michigan's preliminary read for December came in at 82.5.  That's up from 75.1 last month and beat expectations by six points.

 

North American markets were all higher in early trading.

 

 

Commercial Bond Yields

Canada Mortgage Bond

Canada Housing 06/15/19*: 2.25%

Canada Housing 06/15/24*: 3.28%

*denotes interpolated rate

 

Select Government of Canada Bonds

CAN 3.75 06/01/19: 1.95%

CAN 2.50 06/01/24: 2.83%

GOC Bonds are for reference purposes only

 

First National Floating Insured Cost of Funds

1.21%

 

Bank Prime Rate

3.00%

 

Posted Rate

1 Year: 3.09%
2 Year: 3.14%
3 Year: 3.95%
4 Year: 4.74%
5 Year: 5.34%

 

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