Currency

Emerging-market stocks rose as oil slumped on easing prospects for an imminent military attack on Syria. Indonesia’s rupiah gained after a surprise interest-rate increase, while India’s rupee jumped the most since 1986.

The MSCI Emerging Markets Index advanced 1.2 percent to 920.84, capping the biggest increase in about five weeks. Philippine stocks climbed from an eight-month low as economic growth exceeded estimates. The rupiah rebounded from a four-year low after Bank Indonesia raised its benchmark interest rate in an unscheduled move, while India’s rupee strengthened 3.4 percent. Mexico’s IPC index declined for a seventh consecutive day in the longest slide since January 2009.

Q3 profits slide.

Strength on the capital markets helped most of the country’s biggest banks report improved third-quarter results, but combined profits at the top five banks slipped to $7.63 billion.

A year ago, Canada’s big banks — Royal Bank, TD Bank, Scotiabank, CIBC and Bank of Montreal combined to earn $7.8 billion in the same period.

The decline was due to lower third-quarter earnings at Scotiabank and TD Bank.

We cannot preserve our own liberty by destroying someone else’s

Posted by Andrew Ruhland, Integrated Wealth Management

on Thursday, 29 August 2013 21:39

Ruhland Andrew - compressed tie horzI am not a pacifist, as I believe there are certain situations (like true self-defense) when violence is necessary. But if war were truly the solution to the problems they are supposed to solve, would not the hundred and hundreds of previous wars have already solved all these problems?

Unfortunately, wars do serve to distract the population from its own domestic problems, employs some of the youth temporarily, and creates profits for those who build the weapons, rebuild what the weapons have needlessly destroyed, and of course those who help finance the whole escapade.

We cannot preserve our own liberty by destroying someone else’s.

http://www.zerohedge.com/news/2013-08-29/us-finally-admits-what-ron-paul-said-nobody-knows-who-launched-chemical-attack

http://dailybail.com/home/the-essence-of-banking.html

Harper says wireless rules do not favor foreign players

Posted by Reuters

on Thursday, 29 August 2013 21:36

HarperCanadian Prime Minister Stephen Harper on Thursday disputed claims by his country’s leading wireless companies that his government’s telecommunications rules give unfair advantages to foreign players like Verizon Communications Inc.

Canada’s three biggest wireless companies – Rogers Communications, BCE Inc and Telus Corp – are asking the Conservative government to rethink its rules for next January’s auction of wireless spectrum, saying the playing field is slanted in favor of a Verizon…..

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The US printed a stronger than expected GDP number at 2.5%. Canadian GDP is due tomorrow morning. However the market seems to be sitting on its hands waiting for the non-farm payrolls next Friday.

 

Drew Zimmerman

Investment & Commodities/Futures Advisor

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