Market Commentary May 2014
April, non-farm payrolls surged by 288,000 driving the unemployment rate down from 6.7% to 6.3%, its lowest level in more than five years. Expectations had been for a 210,000 increase.
The employment rebound is seen as further evidence Q2 will be much better than Q1, which saw plodding growth of just 0.1%.
The U.S. Fed shrugged of the first quarter’s sluggish performance in its latest monthly meeting and will continue to unwind its bond buying program.
North American markets were all trading higher in the early going.
Bond yields range from -3 to +2.
Commercial Bond Yields
Canada Mortgage Bond
Canada Housing 06/15/19*: 1.97%
Canada Housing 12/15/19 : 2.09%
Canada Housing 06/15/24*: 2.86%
*denotes interpolated rate
Select Government of Canada Bonds
CAN 3.75 06/01/19: 1.69%
CAN 2.50 06/01/24: 2.42%
GOC Bonds are for reference purposes only
First National Floating Insured Cost of Funds
Bank Prime Rate
1 Year: 3.09%
2 Year: 3.04%
3 Year: 3.44%
4 Year: 3.94%
5 Year: 4.79%
c/o Ed Kieser
Director, Commercial Mortgages
and Broker Services
300 – 3303 Immel St. Abbotsford BC V2X 5Y1
1 – 32540 Logan Ave Mission BC V2V 6G3
O 604 859 3141 or 604 826 2699
F 604 859 5226 or 604 826 2621
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