Private Sector US Employment Improvement?
+ Private Sector employment increased 67,000 in August
+ Challenger Gray & Christmas reported planned job cuts were down 17% in August to the lowest level in 10 years.
US Retail Sales
+ Sales were stronger than expected, discounting was particularly heavy.
Markets Anticipating Canadian Bank Dividend Increases
+ BNS CEO Rick Waugh indicated that increasing dividends is on his list of priorities.
+ TD and National Bank have the lowest payout ratio, could be the first to increase dividends.
+ Bank of Montreal dividend yield = 4.69%, 5 yr bond = 3.60%, 5 yr GIC = 2.10%
+ National Bank dividend yield = 3.93%, 5 yr bond yield = 3.65%, 5 Yr GIC = 2.55%
Greece Government Watching Yacht Clubs
+ In their effort to collect taxes the Greek government is watching to see who is taking their boat out. Majority of power boat owners declared incomes of less than €40,000, an amount that would barely cover their cost of fuel!
Managing Director, Individual Investor Services
Angus Watt Advisory Group
National Bank Financial