News headlines

U.S. Stock Futures Decline in Holiday-Hit Trading: Markets Wrap (Bloomberg) U.S. equity-index futures dropped on Monday while stocks in Asia were mixed as the Easter holiday weekend continued in many countries. Oil jumped on a report America scrapped waivers allowing the purchase of some Iranian crude.

U.S. to Eliminate Iran Oil Waivers After May 2 Expiration (Bloomberg) The Trump administration won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, according to four people familiar with the matter, a move that roiled energy markets and risks upsetting major importers such as China and India.

To survive trade battles, China manufacturers deploy every weapon they can (Reuters) Manufacturers in China facing trade barriers are deploying an array of moves to try to keep foreign customers – giving discounts, tapping tax breaks, trimming workforces and, occasionally, shifting production overseas to skirt tariffs.

CANADA STOCKS-TSX futures flat; oil hits 2019 high (Reuters) Futures for Canada’s main stock index were little changed on Monday, even as oil prices hit their highest since November.

PRECIOUS-Gold recovers from 4-month low, tracks oil price rally (Reuters) Gold inched up on Monday, moving away from a near 4-month trough touched in the previous session, drawing support from a drop in equities and a jump in crude oil prices.

Financial market ‘pause party’ makes Fed rate cut less likely (Reuters) Risk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs and investors are stockpiling the lowest-grade corporate bonds with only a smidgen of extra compensation for the added risk.

Overnight markets

Cda Benchmarks Yield Tsy Benchmarks Yield
2 Year 1.629% 2 Year 2.385%
5 Year 1.627% 5 Year 2.378%
10 Year 1.789% 10 Year 2.57%
30 Year 2.07% 30 Year 2.976%

US Economic Data

08:30 AM Chicago Fed Nat Activity Index, Mar Survey -0.10 Actual -0.15 Prior -0.29
10:00 AM Existing Home Sales, Mar Survey 5.30m Prior 5.51m
           Existing Home Sales MoM, Mar Survey -3.80% Prior 11.8%

Canadian Economic Data

10:00 AM Bloomberg Nanos Confidence, Apr 19 Survey – Prior 55.8

Disclosure and Disclaimer

The following sources of information have been, or may have been, used partially or in their entirety to compile the herein provided CTI Capital Securities Inc. (“CTI Capital”) ‘Morning Comments.’ CTI Capital believes these sources to be generally reliable, however, as said sources are varied and from third parties, CTI Capital cannot guarantee the accuracy or completeness of said information: Canadian Press (CP); Bloomberg News (BN); Wall Street Journal (WSJ); Stone & McCarthy Research Associates (SMRA); New York Times (NYT); Financial Times (FT); Market News International (MNI); Globe and Mail; Associated Press (AP); CNW Group (CNW); Reuters; Business News Network (BNN); Market Watch; and others.

Ivan Greenstein, Stephan Buu, Émile Bordeleau

Institutional Bond and Equity Desk
CTI Capital Valeurs Mobilières Inc.

Tel : (514)-861-0240
Fax: (514)-861-3230

Institutional Bond and Equity Desk
CTI Capital Valeurs Mobilieres Inc.

Tel : (514)-861-0240
Fax: (514)-861-3230