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(November 17, 2006) Despite long-standing predictions of an economic slowdown, U.S. consumer confidence has rebounded following the mid-term elections earlier this month, according to RBC.

“The post-election rebound in consumer confidence is supported by economic and financial data,” said T.J. Marta, economic and fixed income strategist for RBC Capital Markets. “Housing does remain an issue, but the correction is mitigated by mortgage rates, which are near their lowest level of the year.”

Consumer confidence is the highest since January 2005. The RBC survey found 43% of respondents felt more confident about their job security than they did six months ago.

Attitudes toward real estate remained unchanged, with 39% of consumers saying the next month will be a good time to buy. Stock market sentiment was even higher, with 44% saying the coming month would be a good time to invest.

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ASC issues trading ban

(November 17, 2006) The ASC has slapped a cease-trade order on James (Jake) Harvey Cameron and Venture Trading Inc., also barring Cameron from serving as a director or officer of any issuer. Cameron has been ordered to pay costs of $3,200 to the commission. The trade prohibition and executive ban expire April 2009.

Cameron and VTI were found to have illegally distributed securities across the provincial border in British Columbia between May 2002 and August 2003, and making misrepresentations to investors via the company’s website.

“The ASC has the authority to impose reciprocal orders to protect the public by ensuring those who commit illegal activities and are sanctioned in one jurisdiction can’t just set up business in a new jurisdiction to avoid the consequences,” said John Petch, enforcement director for the ASC.

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RBC launches Canaccord PPN

(November 17, 2006) RBC Financial Group has announced the launch of a new principal protected note, designed to give investors exposure to the Canaccord Independence Income Growth Portfolio.

The RBC Canaccord Independence Income Growth Deposit Notes Series 1 and 2 may include exposure to bonds as well. The underlying fund is managed by Canaccord’s Nick Majendie and Alan Berge.

The Notes are available until December 29, 2006. Series 1 Notes mature July 10, 2014, and the Series 2 Notes, which have no load and are designed for fee-based accounts, mature October 10, 2012.

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CIBC outsources bond mandates

(November 17, 2006) CIBC Asset Management has announced the hiring of Brandywine Global Investment Management to take control of the fixed income portion of several funds.

Brandywine will manage $350 million in assets for CIBC, including the CIBC Global Bond Fund, Talvest Global Bond Fund, Imperial International Bond Pool, and Frontiers Global Bond Pool. Brandywine will also manage the global fixed income components of several portfolio solutions.

Brandywine replaces CIBC’s internal money management division, CIBC Global Asset Management, on these retail global fixed income mandates. CIBC Global Asset Management will continue to manage more than $38 billion in Canadian fixed income mandates.

“Brandywine Global is one of the world’s leading global fixed income managers with a stellar performance track record and a unique and proven investment process,” said Steve Geist, president of CIBC Asset Management. “We are very excited to have Brandywine Global join CIBC’s family of leading external managers to help us deliver strong results for our clients and meet their demand for income from outside of Canada.”

(11/17/06)