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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (6073)	1/24/2004 12:23:05 AM
From: Canuck Dave	Respond to of 110194

That's a really good question. Up until this week, I thought our guys were being not too bad about resisting the great reflation, but I'm not so sure any more. Our dollar sure took a sh*t kicking today after the rate cut. It appears we're swinging over to the US side and away from a European sensibility. So, I'd have to say we're now officially in the competitive devaluation game. Bottom line: Yes, more rate cuts coming. When? Not for a while. They'll do it in a good old fashioned Canadian slow way. Maybe 3 months? This process will be good for gold stocks up here. Note that Goldcorp is up year over year in US dollars, but down in Canadian dollars. CD