Here are my thoughts on the Markets for June 2008.
• After aggressively cutting interest rates in the first half of the year, the U.S.
Federal Reserve and the Bank of Canada held key interest rates steady in June,
citing inflation control as their primary concern in the coming months.
Government bond prices dropped early in the month in reaction to this
• Corporate bonds have also declined in price in response to further expected
writedowns by the major banks in Canada and the U.S.
• The Canadian stock market declined by 1.4% despite commodity prices
hitting all time highs, the S&P500 dropped by 6.0% and the MSCI EAFE
dropped by 5.7%.
• The Canadian dollar remained in the range in which it has been trading all
year, between $0.97 USD and $1.03 USD.
Market Statistics (PDF)
Statistiques de marché (PDF)
The latest statistics are regularly available in the Broadcast Centre, Market Statistics and you'll find my comments archived in my Market Statistics & Commentary page.