Investment Advice on the Radio

Worldwide markets are solidly in the green as we are seeing a bit of a bounce to start the second half of 2010. Year to date the TSX is down 3.85%, the S&P 500 is down 7.5% and the EAFE is down 14.72%.
Friday brings a double bang of jobs reports and housing starts for June in Canada. These reports are important because they are among the last data the Bank of Canada will consider in their rate decision on July 20th. In the US, retail sales and today's ISM-services reading for June may move the market. The ISM number gives us a barometer as to whether the economy is expanding or contracting. This may be fuel for the camp that believes we are headed for a double dip recession. While this is a real risk, Scotia Economics believes current double dippers are peaking too soon. They argue consumer spending is still in the ballpark of 2/3rds of the US economy and double dips don't occur when spending is rising at a 3 1/2% annualized pace, as it did in May. For the full report on this call me at 868-5525 or visit yourlifeyourplan.ca.