Further cutbacks and restructuring at the large U.S. automakers and slowing activity south of the border bode for steady, but not spectacular, gains.

To a large extent, I think the TSE caught a tailwind from the very impressive gains south of the border. There's clearly been a change in sentiment in the U.S market in the last few weeks.

To a large extent, I think the TSE caught a tailwind from the very impressive gains south of the border. There's clearly been a change in sentiment in the U.S market in the last few weeks,

November's numbers confirm that housing activity has peaked and is now slowing.

This should induce some slowing in housing market activity, but we expect the housing market in 2006 to be strong, nonetheless.

The border helps define curves.