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DBRS has published a new study Canadian Private Pension Plans – Are They Losing or Cruising?.

The SEC has extended the comment period for the short-selling proposals.

The BoE is monetizing debt like there’s no tomorrow:

The Bank of England expanded its bond purchase program beyond its original limit in an effort to spur lending and fight a recession that’s deeper than previously anticipated.

Bond yields plunged after the Monetary Policy Committee, led by Governor Mervyn King, kept the key interest rate at 0.5 percent and increased its purchase program by 50 billion pounds ($84 billion) to 175 billion pounds.
…
The Bank of England’s tone on the economy was less optimistic. It said in a statement that the recession “appears to have been deeper than previously thought.”

“While some recovery in output growth is in prospect, the margin of spare capacity in the economy is likely to continue to grow for some while yet, bearing down on inflation in the medium term,” the bank said.

PerpetualDiscounts continued to roar ahead today, shrugging off the woes of the equity market sparked by the slashing of the MFC common dividend. Somewhat surprisingly, the MFC PerpetualDiscounts were little affected, although one of the two FixedReset issues and the OpRet issue made it into the unpleasant part of the price movement table; both FixedResets were in the volume table.

This entry was posted on Thursday, August 6th, 2009 at 6:55 pm and is filed under Market Action. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.