December Update
Over the last month we continued to see the same patterns in the markets as we have seeing for a while. The market continues to be volatile in nature and has tendencies to over react to any negative news. The US housing market and sub-prime mortgage debt still seem to be the topic of discussions.
The Canadian banks just recently reported their quarterly earning. They revealed some anticipated write downs to their exposures in sub-prime mortgage debts. Hopefully all of the skeletons have been cleared out of their closets. Taking the write downs into consideration they still managed to produced some impressive results. Perhaps they have been unjustly oversold?