Market Commentary

October 13, 2011

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.

by First National Financial LP 13. October 2011 09:46