{"id":44444,"date":"2022-11-30T20:48:50","date_gmt":"2022-12-01T01:48:50","guid":{"rendered":"https:\/\/prefblog.com\/?p=44444"},"modified":"2022-11-30T20:48:50","modified_gmt":"2022-12-01T01:48:50","slug":"november-30-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44444","title":{"rendered":"November 30, 2022"},"content":{"rendered":"
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TXPR closed at 557.30<\/a>, up 0.72% on the day. Volume today was 2.01-million, third-highest of the past 21 trading days.<\/p>\n

CPD closed at 11.15<\/a>, up 1.09% on the day. Volume was 194,590, second-highest of the past 21 trading days.<\/p>\n

ZPR closed at 9.30<\/a>, up 1.31% on the day. Volume was 244,270, a little above the median of the past 21 trading days.<\/p>\n

Five-year Canada yields were down to 3.18%<\/a> today.<\/p>\n

A “risk-on” day was attributed to remarks by Powell<\/a>:<\/p>\n

Jerome H. Powell, the Federal Reserve chair, signaled on Wednesday that the central bank could slow its rapid pace of interest rate increases at its December meeting while making clear that borrowing costs have farther to climb as policymakers remain concerned about a sustained bout of inflation.<\/p>\n

Investors cheered his comments, with stocks surging at the mere hint that the Fed\u2019s supersize rate increases could soon taper off even as Mr. Powell underlined that he and his colleagues were focused on raising rates high enough to tame inflation, rather than on how fast they got there.<\/p>\n

The S&P 500 climbed more than 3 percent, the index\u2019s best day in over two weeks. The Nasdaq composite index, which is particularly sensitive to changing views on interest rates, rose 4.4 percent.
\n…<\/b>
\n\u201cMy colleagues and I do not want to over-tighten,\u201d Mr. Powell said, referring to rate increases that tighten the flow of money too much. \u201cCutting rates is not something we want to do soon. So that\u2019s why we\u2019re slowing down, and going to try to find our way to what that right level is.\u201d<\/p>\n

Still, Mr. Powell and his colleagues are trying to strike a balance. Even as they lay the groundwork to imminently slow down, they want to make it clear that they are not giving up on their campaign against rapid price increases.
\n…<\/b>
\n\u201cConsumer spending has remained resilient\u201d and is \u201csupported by labor income growth and still elevated savings,\u201d Lisa D. Cook, a Fed governor, said during a speech in Michigan on Wednesday. \u201cHow far we go, and how long we keep rates restrictive, will depend on observed progress in bringing down inflation.\u201d<\/p>\n

The road to slower inflation could be a long one. Mr. Powell pushed back on any notion that a recent moderation in price increases is a sure sign that price jumps will return to more acceptable levels soon.<\/p>\n

\u201cDown months in the data have often been followed by renewed increases,\u201d he said. And while many economists expect inflation to moderate next year, \u201cforecasts have been predicting just such a decline for more than a year, while inflation has moved stubbornly sideways.\u201d<\/p><\/blockquote>\n

I was all set to report stunning success in my campaign for more precise yield-to-maturity reporting for ZLC, given a recent eMail received from BMO:<\/p>\n

Further to your inquiry. I have been informed we are working on a fix for our site to have an as of date for Weighted average yield to maturity, added. Each ETF may differ, however I believe ZLC is weekly.<\/p><\/blockquote>\n

… but BMO has taken the wind out of my sails by implementing this within a few days of letting me know; readers can now expect weekly amusement from my adjustment of the reported yields. I will be continuing the use of ZLC as my benchmark for long corporate yields as:<\/p>\n