13. October 2011 09:46
After several days of pushing higher, yields are coming back down today as the markets adopt a more cautious tone. After a string of better than expected numbers, economic data released today in the US – Initial and Continuing Jobless Claims as well as the Trade Balance – is simply meeting expectations, and corporate earnings season (kicked off this week) has been lackluster so far. This morning, worse than expected earnings at JPMorgan have influence a negative tone in the market.
Additionally, while there have not been any significant setbacks in terms of the developing European plan to bolster its banking system, there has not been a lot of progress either.
Data tomorrow includes US Retail Sales, Consumer Sentiment, and Business Inventories. For Canada, it is limited to Manufacturing Shipments.