Morning Minutes

Big Communications Merger and Looking Ahead to The Fed

Instructor helping intern to start working laptop. Man and woman in casual sitting and standing at desk and using laptop. Internship concept
Instructor helping intern to start working laptop. Man and woman in casual sitting and standing at desk and using laptop. Internship concept



Stock markets are steady to start the new trading week with US index futures plus the Dax, FTSE, Hang Seng and the Nikkei all flat to up 0.3%. Cryptocurrencies are getting knocked back down with Bitcoin falling 7.75% toward $55,000. Commodities are flat to lower WTI crude oil down 0.8% and copper holding steady. Gold and silver are bouncing back a bit, rising 0.4% and 0.8% respectively.

The future trend of interest rates may continue to be a hot topic this week with the US 10-year treasury note yield holding above 1.60%. The Fed is meeting on Wednesday to decide what to do about its monetary support programs. In addition to the usual decision and statement, the quarterly update to economic and interest rate forecasts from FOMC members is also due this time around. With traded interest rates on the rise, and the economy expected to improve as vaccines rollout and areas reopen, any statements or hints the Fed makes relative to whether it plans to continue or reduce monetary stimulus could have a significant impact on sentiment. The Bank of England and Bank of Japan are also meeting this week which may give more international color. Last week, monetary decisions were split between the Bank of Canada staying the course and the European Central Bank ramping up asset purchases to hold down interest rates.

The week in corporate news has started with a bang as Rogers Communications has agreed to purchase rival cable/wireless provider Shaw Communications in a $26B deal, valuing Shaw at $40.50 per share, a 69.4% premium to its Friday close of $23.90. It’s a relatively quiet week for earnings with the main events being results from FedEx and Nike both on Thursday.

In US economic news, the Empire State Manufacturing Index showed improvement and beat expectations (17.4 vs street 14.5 and previous 12.1). US President Biden is scheduled to speak at 1:45 pm EDT today. Tomorrow morning brings US February retail sales at 8:30 am EDT (street -0.5% vs previous 5.3%)

SIA Wealth Market Outlook Webinar Tuesday March 16, 2:00 pm EDT

Join SIA Wealth Management for an update on True Tacticaltm investing, insights into the recent performance of SIA Wealth Management portfolios and market insigts from SIA Wealth Founder and CEO Jeremy Fehr. Webinar audio will be available through computer VoIP or dial in using your phone.

Register at:

After registering, you will receive a confirmation email containing information about joining the webinar.

Subscribe to the Morning Minutes:

Today's earnings reports and market activity, delivered right to your inbox.

Colin Cieszynski, Chief Market Strategist

Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428

Read More

Legal and Regulatory Disclosures

Terms and Conditions:
This information is for Investment Advisors only. The website is for informational purposes only and is not intended to provide a complete description of SIA Wealth Management’s products or services. Past performance is not indicative of future results. It should not be construed as investment advice or relied upon in making an investment decision. Products and services of SIA Wealth Management are only offered in jurisdictions where they may be lawfully offered for sale. The information contained in this Website does not constitute an offer or solicitation by anyone to buy or sell any investment fund or other product, service or information to anyone in any jurisdiction in which an offer or solicitation is not authorized or cannot be legally made or to any person to whom it is unlawful to make an offer of solicitation. All products and services are subject to the terms of each and every applicable agreement. It is important to note that not all products, services and information are available in all jurisdictions outside Canada.

SIA Wealth Management Inc. (SIAWM) specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, Advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIA Wealth Management Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.