Mixed markets in North American this morning as declines in energy and gold weigh on the TSX, while the passage of a trillion dollar healthcare bill south of the border is having a positive effect on US indexes. The obvious winners of a revised healthcare system include the care providers and drug manufacturers who will add some 32 million potential customers to the mix. The insurers face a future of higher government regulation. India’s surprise interest rate hike before the weekend continues to have an effect on commodities as they try to slow down growth amid accelerating inflation. The TSX is down 26 pts. The Dow is up 37 pts.
The Loonie is paring recent gains, slipping 35 bps this morning to US$..9804. Bond yields have climbed at the short end of the curve to 2.80% for the 5-year Canada, while the 10-year remains stuck at 3.47%. Gold is down $10 to US$1097.60/oz. Oil is down a quarter to US$80.43/barrel.
