Andrea's Feed
Oct 5, 2011

Fear sends yields plunging at Canada 10-yr auction

TORONTO, Oct 5 (Reuters) – Canada’s sale of 10-year
government bonds saw strong demand on Wednesday, as fears about
Europe’s debt crisis and possible global recession fueled
investor hunger for safe-haven assets.

The C$2.5 billion ($2.4 billion) auction of bonds produced
an average yield of 2.254 percent, down from 2.994 percent at
the last 10-year bond auction in July.

Sep 19, 2011

Bank of Canada pushes for reform to prevent crisis

TORONTO, Sept 19 (Reuters) – Global policymakers need to
push through with contentious new bank regulations to prevent
another 2008-style crisis, a senior Bank of Canada official
said on Monday.

“The current bout of turbulence, like the financial crisis
of three years ago, serves as a reminder of why it is
fundamentally important to have a resilient financial system,”
Timothy Lane, deputy governor at the Bank of Canada, said in a
speech.

Sep 9, 2011

Scotiabank buys into Guangzhou Bank for C$719 million

HONG KONG/TORONTO (Reuters) – Bank of Nova Scotia (BNS.TO: Quote, Profile, Research, Stock Buzz) said on Friday it will buy a near 20 percent stake in Bank of Guangzhou for about C$719 million ($722 million) to expand its footprint in China, becoming the latest foreign bank to invest in a Chinese bank before the bank does an IPO.

Scotiabank, Canada’s third-largest lender, said it expects the deal to add to earnings next year and to close by December this year. Guangzhou is China’s third largest city, about 120 kilometers (75 miles) northwest of Hong Kong.

Sep 8, 2011

C$ weakens as equities slump, safety favored

TORONTO, Sept 8 (Reuters) – The Canadian dollar ended the
session weaker against its U.S. counterpart on Thursday as
investors sought safety after a speech by Federal Reserve chief
Ben Bernanke lacked details on plans to spur economic growth.

Wall Street stocks fell on the Bernanke speech and the euro
slipped on fears the euro zone debt crisis is worsening with
Greece failing to meet fiscal targets. [MKTS/GLOB]

Sep 8, 2011

C$ little changed, focus on Trichet, Bernanke

TORONTO, Sept 8 (Reuters) – The Canadian dollar was little
changed in early trade on Thursday as markets focused on
statements by key central bankers, overshadowing U.S. and
Canadian economic data.

The euro slid to a two-month low against the U.S. dollar
after the European Central Bank kept interest rates on hold and
ECB boss Jean-Claude Trichet said growth risks in the euro zone
economy have shifted to the downside. [MKTS/GLOB]

Sep 7, 2011

C$ rises on stock rally, Bank of Canada

TORONTO, Sept 7 (Reuters) – The Canadian dollar ended
higher on Wednesday, boosted by rallying commodities and stock
markets and by a Bank of Canada statement that was not as
dovish about interest rates as traders had expected.

World equity markets and commodities made strong gains,
with oil up more than 3 percent, after a German court ruling
supported the German government’s bail-out efforts in the
crisis-stricken euro zone [MKTS/GLOB]

Sep 7, 2011

C$ firmer; Bank of Canada less dovish than feared

TORONTO, Sept 7 (Reuters) – The Canadian dollar
strengthened on Wednesday after the Bank of Canada warned of a
worsening global economic picture but was not as dovish about
interest rates as traders had expected.

In a policy shift, Canada’s central bank said there was
less need to raise interest rates because of slowing global
economic momentum, but policymakers also said Canadian growth
would resume in the second half of the year, with very
stimulative credit conditions a factor. [ID:nN1E786055]

Sep 2, 2011

C$ hits one-week low on dismal U.S. jobs data

TORONTO, Sept 2 (Reuters) – The Canadian dollar hit a
one-week low on Friday after the U.S. jobs report for August
came in far weaker than expected, reigniting fears about a
global growth slowdown and sending investors to safe-haven
assets.

The U.S. dollar also weakened against key currencies such
as the yen and Swiss franc [FRX] after news that U.S. employers
hired no new workers last month, against expectations for a
75,000 increase in payrolls. That sent government bond prices
higher and pushed stock markets into a global slump.
[MKTS/GLOB]

Sep 2, 2011

C$ touches one-week low on U.S. jobs data

TORONTO, Sept 2 (Reuters) – The Canadian dollar sank to a
one-week low against the greenback on Thursday morning after
the U.S. jobs report for August came in far weaker than
expected, reigniting fears about a global growth slowdown and
sending investors to safe-haven assets.

The U.S. dollar also weakened against key currencies such
as the yen and Swiss franc [FRX] after news that U.S. employers
hired no new workers last month, against expectations for a
75,000 increase in payrolls. That sent government bond prices
higher and pushed stock markets into a global slump.
[MKTS/GLOB]

Sep 2, 2011

C$ weakens, bonds rally on grim US jobs data

TORONTO, Sept 2 (Reuters) – The Canadian dollar weakened on
Thursday after the U.S. jobs report came in far weaker than
expected, reigniting fears about a global growth slowdown and
sending investors to safe-haven assets.

News that U.S. employers hired no new workers last month,
against expectations for a 75,000 increase in payrolls also
sent government bonds prices higher and pushed stock markets
into a global slump. [MKTS/GLOB]