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(CEP News) - The Canadian dollar got a boost from a fifth consecutive day of record high oil prices and strong Canadian job growth. Equities are down after Citigroup said it will sell as much as $400 billion in assets and AIG announced plans to raise $12.5 billion following an unexpectedly poor quarter.
Yields on two-year Canadian government bonds are down 2.3 bps to 2.75%, with five-year yields down 3.8 bps to 3.16%, 10-year yields down 3.6 bps to 3.61% and 30-year yields down 3.7 bps to 4.10%. The Canadian 10-year note is yielding 14.8 bps less than the U.S. 10-year note. U.S. two-year yields are down 0.8 bps to 2.21%, with five-year yields down 1.7 bps to 2.95%, 10-year yields down 1.9 bps to 3.76% and 30-year yields down 2.8 bps to 4.51%. The Eurodollar September 08 contract is down 0.5 ticks to 97.40. The 10/2 year spread flattened 1.28 bps to 153.83. The yield curve is flatter, with the 10/2-year spread down 1.3 bps to 153.83 bps. In Germany, returns on two-year German bonds are down 3.7 bps to 3.71%, with five-year yields down 4.8 bps to 3.76%, 10-year yields down 6.3 bps to 4.00% and 30-year yields down 3.9 bps to 4.52%. Yields on UK two-year bonds are down 2.0 bps to 4.30%, with five-year yields down 1.9 bps to 4.27%, 10-year yields down 2.5 bps to 4.59% and 30-year yields down 1.1 bps to 4.47%. Toronto's S&P/TSX composite index is down 18.68 points to 14589.31, the Dow Jones industrial average down 91.02 points to 12775.76, the S&P 500 down 7.69 points to 1389.99 and the Nasdaq down 0.86 points to 2450.38. European stock markets are lower, with the Eurostoxx down 43.51 points to 3232.12, the UK FTSE 100 down 55.70 points to 6215.10 and the German DAX down 68.31 points to 7003.59. The euro is up 0.0046 to 1.5440 against the USD, up 0.0136 to 1.5522 against the Canadian dollar and lower by 0.43 at 159.24 against the yen. Against the U.S. dollar, the Canadian dollar is up 0.0115 to 0.9947 and the Australian dollar is lower by 0.0025 to 0.9411. The U.S. dollar is down 0.62 to 103.13 against the yen and the pound is down 0.0063 to 1.9480 USD. The Canadian dollar is up 0.58 to 102.58 against the yen. The pound is lower by 0.0292 to 1.9583 against the loonie. The U.S. Dollar Index was down 0.2370 to 73.2400. WTI crude oil is up $1.17 to $124.86. The front month gold contract at the Chicago Board of Trade is down $6.10 to $875.80. All data taken at 11:10 a.m. EDT. By Adam Button,
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, edited by Cristina Markham,
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