AM 1150 Kelowna - Radio Rallies & Reversals

So Asian and European equity markets are playing catch-up after the big sell-off in North America last Friday. For those of you who haven't looked at your bottom line yet, last Friday's debt warning by Hungary, along with a disappoint jobs report south of the border, contributed to a shaving of over 2% off the TSX composite index and over 3% off U. S. indices, as the sustainability and strength of the global economic recovery is still in question. G-20 leaders will have their work cut out for them on the 25th and 26th of June in Toronto, where they'll discuss economic policy; Let's hope it's worth the cost.

Potential market moving news this week is: U. S. consumer credit later today; Canadian housing starts tomorrow; U. S. beige book on Wednesday; U. K. and ECB policy announcements on Thursday; and a number of consumer and business related reports on both sides of the border on Friday.

As I speak, North American equity markets are marginally positive led by by consumer staple and telecommunication stocks. Tune in at 12:13 for our market update before the close.

GB