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02nd February 2012
Daily Markets Wrap Up – Wednesday, February 1st, 2012

Global Markets
• US companies added 170,000 workers in January, reflecting job gains in services and at small businesses, according to a private report based on payrolls.
• Mortgage applications in the U.S. declined for a second consecutive week, dragged down by fewer purchases and refinancing.
• Canada’s dollar rose beyond parity with its U.S. counterpart as stronger global manufacturing data suggested the worldwide economy is growing, burnishing the outlook for stocks and commodities such as crude oil and copper.
• A U.K. manufacturing index jumped to an eight-month high in January and unexpectedly returned to growth after a quarter of contraction as production rebounded.
• Chinese manufacturing indexes rose in January as the world’s second-biggest economy withstood weaker exports driven by Europe’s debt crisis and a government-induced property slowdown.
• Hong Kong will spend nearly HK$80 billion ($10.3 billion) to bolster growth as the government forecasts the weakest expansion since 2009 on a “bleak” outlook for the U.S. and EuropeSource Bloomberg
 
 

Caribbean

Jamaica
• The Bank of Jamaica has reported that net remittances for November, 2011 were US $133.1 million, which represented an improvement of US $3.6 million (2.8%) relative to the corresponding period of 2010. This result carried net remittances for the first eleven months of 2011 to US $1.586 billion; a growth of US $102.2 million (6.9%) when compared to the corresponding period of 2010.
Trinidad & Tobago
• The Central Bank of Trinidad & Tobago has reported that private sector credit demand has continued a slow but steady rate of expansion since the second quarter of 2011. On a year-on-year basis, private sector credit granted by the consolidated financial system grew by 2.5% in November 2011, up from 1.4% in October.
• The Central Bank of Trinidad & Tobago reports that short term interest rates have continued to slip to record lows, in the face of significant excess liquidity. The three and six month Treasury bill rates declined to 0.22% and 0.28% respectively by January 24, 2012 from 0.28% and 0.32% in December.

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