Headline inflation in the US came in a 4.3% yoy today, powered by Food (+4.8%) and Energy (+21.4%). The core rate, which excludes these two items, was +2.3% yoy. Not a good report, according to …
Search Results for: conversion
December 13, 2007
Well … it looks like yesterday’s shock-and-awe effort to provide liquidity has failed – assuming the point of the exercise was to lower EURIBOR: The cost to borrow for three months remained at 4.95 percent, …
CIBC Still Trying to Cancel Series 28 Prefs
CM.PR.G is a bit of a funny issue – the prospectus dated June 4, 2004 offered Series 28 Prefs that came attached to warrants to purchase Series 29 (which is CM.PR.G) after November 1, 2004. …
December 11, 2007
The Fed cut rates by 25bp, to 4.25%. Many were disappointed it wasn’t 50bp. Stocks tanked. But bonds benefitted from asset reallocation, even in Canada. ‘Nuff said? A very active day in the preferred market, …
December 7, 2007
The Internet is alive with discussion of the sub-prime bail-out announced by George Bush yesterday: Representatives of HOPE NOW just briefed me on their plan to help homeowners who will not be able to make …
November 27, 2007
Of most interest today (well … last night!) was the Abu-Dhabi SWF investment in Citigroup. As noted by Naked Capitalism, this deal was done, effectively, at a concession to the current market price, given that …
IQW.PR.C & IQW.PR.D : Dividends Suspended
When writing about the recent Quebecor World downgrade I noted: At Pfd-5, there’s not much further IQW.PR.C / IQW.PR.D can go! Well, now they’re taking that last step: Quebecor World Inc. (TSX: IQW, NYSE: IQW) …
November 20, 2007
I do apologize … many things came up today, so you’ll just have to do your own literature review. PerpetualDiscounts didn’t go down today! Note that these indices are experimental; the absolute and relative daily …
November 15, 2007
Well, there won’t be much today, I’m afraid! What with fixing (well, patching, anyway) my server problem and a … rather exciting day in the markets, there hasn’t been much time to Stay Abreast of …
IQW.PR.C to be Redeemed for Cash (Probably)
Well! This is unexpected! Quebecor has announced: Quebecor World Inc. (TSX: IQW, NYSE: IQW) (the “Company”) announced a refinancing plan today pursuant to which it intends to concurrently: … [Raise a lot of debt & …