Financial markets
Canadian bond traders were caught off guard by the Parti Quebecois's surprisingly strong performance in the Quebec election, which led to a significant surge in bond prices across the market. The unexpected outcome, coupled with news of a smaller-than-expected increase in U.S. consumer prices, sent bond yields
Financial markets
The Toronto market showed better form than the New York market, with a 39.79-point increase on the week, while the New York market closed lower after a mixed performance. The Dow Jones industrial average finished down 15.86 points at 3,885.58, while the Toronto Stock Exchange 300
Financial markets
The Paris-based major commercial banks, including Credit Commercial de France, Banque Nationale de Paris, Credit Lyonnais SA, and Societe Generale, surprised markets by raising their base lending rate to 7.95 per cent, effective September 1. This decision was made in response to an increase in their financing costs on
Financial markets
A surprise weaker-than-expected second-quarter growth rate of 3.8% in the US GDP, announced by the Commerce Department, has sparked a rally in the US stock market. Analysts had predicted a 4.2% increase, but the actual figure, coupled with revised inventory buildup and reduced consumer spending, has led to
Financial markets
Tentatively at first, but then with increasing assurance, investors returned to the stock market this week. A 51-point surge in the Dow Jones industrial average yesterday marked the largest one-week gain in 19 months, stirring hopes of a sustained market rally. Analysts say the rally is fueled by stabilizing bond
Financial markets
The Canadian bond and currency markets have been in a holding pattern, awaiting developments on the interest rate front. The Federal Reserve Board is expected to increase U.S. interest rates to slow economic growth and keep the reins on inflation. A survey by Technical Data showed 61% of respondents
Financial markets
Australian bond and currency markets marked time on Monday, with traders and dealers awaiting the outcome of the US Federal Reserve's open market committee meeting. The local dollar inched higher to 74.31 US cents, benefiting from stronger global gold prices and the New Zealand Government's
Financial markets
The Australian financial markets could experience significant volatility this week due to rising concerns about an imminent increase in US interest rates, sparked by stronger-than-expected July employment data. The data revealed a jump of 259,000 jobs for July, resulting in the bond market's largest one-day loss in
Financial markets
Canadian bond prices rose across the board, with gains ranging from 25 cents to 65 cents, due to increased foreign buying in relatively thin trading. The buoyant bond market, sparked by Wednesday's successful Canada 10-year bond issue, is attributed to foreign traders' enthusiasm for new issues, according
Financial markets
Foreign investors continued to show interest in the Canadian bond market yesterday, driving prices higher and narrowing the spread to the US yield curve. The Canada 30-year bond climbed 75 cents to $87.65, while the 10-year spread narrowed to 1.97% from 2.06% the previous day. Market participants
Financial markets
Platinum prices have seen a significant surge on the New York Mercantile Exchange, reaching their highest level in over three and a half years. The rise in prices can be attributed to forecasts of strong Japanese demand, bolstered by investment-fund buying. Traders are also concerned about potential supply disruptions due
Financial markets
Speculation among coffee traders that the damage to Brazil's coffee crop from two recent freezes was not as bad as initially thought sent prices plummeting yesterday. The Brazilian Government had estimated the first freeze destroyed approximately 10 million 132-pound bags of coffee, reducing the anticipated 1995-96 crop to
