Stock Rating Changes, Economic Releases due Today, Closing Values for Stocks, Commodities, Bonds and Currencies, View Report
| Ted's Commentary - December 7, 2009 |
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With every positive economic indicator that is found (in last week’s case it was Canada creating 79,000 jobs in November), the market increasingly shows an anticipation of interest rate increases. There are some that expect the bank of Canada to raise rates as soon as tomorrow; however I am not in that camp. I do think, however that we will see rising rates across the spectrum of maturities sooner than we think – in some ways, you had better hope so, otherwise the economy truly will have turned negative once again.
What makes investing today so difficult, is the realization that while daily news can totally rivet our attention and cause large daily swings in our markets; the markets really do look ahead and price in where they expect the economy to be 8 to 12 months from now – and there are still a number of people waiting to see if we get a double dip recession after the massive government spending initiatives are used up. I am still in the camp of buying the dips during pull-backs – I would just prefer a good short duration ten percent decline to do so! |
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