1. SIF Trader Report
Mar 19th, 2013

2. Reflection on Yesterday
March 18, 2013
Shocking plans in Europe to impose sweeping taxes on all Cyprian savings
accounts to pay for a bailout of the island pulled European exchanges lower and
pulled the Dow down 0.4 percent to 14,452. The euro lost nearly one percent and
is back under $1.3000 at $1.2955.
But demand for safety has been limited with gold up only $10 to $1,605 and with
the 10-year US Treasury yield down a modest four basis points to 1.95 percent.
Lost in the session due to the Cypress news was a weak housing market index
that points to unwanted bumps ahead for the new home market.

3. Stocks That are Moving in the 60

4. U.S. Stock Market Review

7. Canadian Stock Market Review
“

8. European Markets

9. Asian Markets

10. Consumer Interest Rates
Numbers for U.S.

11. Industries Performance

12. Commodities

13. Currencies

14. European Headlines
Cyprus Bank-Levy Passage in Doubt as EU Shows Flexibility
Cyprus’s passage of an unprecedented levy on bank deposits was in doubt as euro-area finance
ministers responded to criticism of the measure by loosening their stance on how the money is
raised.
European Stocks Retreat Before Cyprus Debate on Bank Levy
European stocks fell for a third day before Cypriot lawmakers meet to discuss a 5.8 billion-euro
($7.5 billion) bank-deposit levy needed to win a bailout. U.S. index futures were little changed
and Asian shares climbed.
U.K. Inflation Quickens to Fastest in Nine Months
U.K. inflation accelerated to the fastest pace in nine months in February and factory-gate prices
increased twice as much as forecast as energy costs surged.
Volvo Said to Win China Approval to Begin Making Cars
Volvo Cars, the Swedish carmaker owned by Zhejiang Geely Holding Group Co., won the approval
of China’s main industry planner to begin making vehicles in the country, three people familiar
with the matter said.

15. Asian Headlines
Asia Stocks Pare Gains on Report Cyprus Won’t Pass Levy
Asian stocks pared gains after a report suggested Cyprus’ parliament won’t approve a tax on
bank deposits needed to secure a euro-zone bailout.
India Gold ETF Sales Mimic Soros as Goldman More Bearish
Indian gold funds are shrinking for the first time since June as investors in the biggest bullion-
consuming nation follow billionaire George Soros in pulling money from products backed by the
precious metal.
Japan Steel May Forge Ventures to Make Nuclear Parts in Asia
Japan Steel Works Ltd., a nuclear parts supplier for customers from Areva SA to Hitachi Ltd., is
considering tieups in Southeast Asia and India after the Fukushima disaster squeezed demand at
home and in the U.S.
Lion Mentari Orders 234 Airbus Jets to Challenge AirAsia
PT Lion Mentari Airlines ordered 234 planes from Airbus SAS, its second order of more than 200
aircraft in two years, as Indonesia’s biggest budget carrier expands its fleet to meet rising travel
demand.

16. Canadian Headlines
Brent Falls to Shrink Premium to WTI Before Cyprus Vote
Brent crude fell, shrinking its premium to U.S. oil to less than $15 a barrel for the first time since January, as
Cyprus prepared to vote on a bank levy amid renewed concern that Europe’s debt crisis will worsen.
Gold Falls After Three-Day Gain as Stronger Dollar Curbs Demand
Gold fell, ending a three-day advance in London, as a strengthening dollar curbed demand for an alternative
investment.
Flaherty to cut spending in response to weak growth forecast
Finance Minister Jim Flaherty intends to freeze or cut spending on programs, defer capital expenditures and
eliminate some corporate-tax exemptions to help close the gap on a $2.1-billion shortfall in revenues for 2013,
The Globe and Mail has learned.

17. U.S. Headlines
JPMorgan Whale Pushed for ‘Young’ Trader Who Later Took His Job
Bruno Iksil, the trader whose wagers cost JPMorgan Chase & Co. $6.2 billion and led to his ouster, may
have unwittingly helped pick his replacement.
U.S. Stock Futures Are Little Changed Before Fed Meeting
U.S. stock futures were little changed, following a two-day slide for the Standard & Poor’s 500 Index, as
investors awaited a report on housebuilding and the start of a Federal Reserve meeting.
Ryanair Places $15.6 Billion Order for 175 Boeing 737 Planes
Ryanair Holdings Plc agreed to buy 175 Boeing Co. 737 jets worth $15.6 billion at list price to offer
discount flights in markets vacated by full-service rivals and said it may opt to add 200 more by the end
of the year.
Samsung Preparing Wristwatch as It Races Apple for Sales
Samsung Electronics Co. is developing a wristwatch as Asia’s biggest technology company races against
Apple Inc. to create a new industry of wearable devices that perform similar tasks as smartphones.

18. References
Yahoo!
Bloomberg
The Globe and Mail
CPMS
BNN
NY Times
CNN
BMO Economic Calendar