The West’s fear of competition is leading for calls to recruit more Secret Policemen to enforce the laws of foreign countries: Moving money in small increments to avoid reporting requirements is called “smurfing,” after the …
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Low-Spread FixedResets: October 2015
As noted in MAPF Portfolio Composition: October 2015, the fund now has a large allocation to FixedResets, mostly of relatively low spread. Many of these were largely purchased with proceeds of sales of DeemedRetractibles from …
MAPF Portfolio Composition: October 2015
Turnover edged up in October, to about 7%. There is extreme segmentation in the marketplace, with OSFI’s NVCC rule changes in February 2011 having had the effect of splitting the formerly relatively homogeneous Straight Perpetual …
October 30, 2015
In today’s economy, the absence of bad news is greeted ecstatically: Canada’s economy grew for a third month in August, cementing a rebound from an oil shock that had pulled the nation toward recession in …
October 29, 2015
There are more rumblings about Toronto’s housing market: In a new quarterly forecast on the housing market, Canada Mortgage and Housing Corp. said it saw scant evidence of serious problems in the Canadian housing market …
October 28, 2015
Today’s news was the FOMC release: To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds …
October 27, 2015
Forbes has a nice piece on the Big Pharma / regulatory complex in the States: Shkreli, if you’ve been trapped on Mars eating potatoes, gained Internet opprobrium when his company, Turing Pharmaceuticals, raised the price …
October 26, 2015
John Heinzl of the Globe penned a paen to FixedResets titled Have rate-reset preferreds hit bottom? Maybe that included some interesting information regarding cash flows: All three ETFs have been attracting a lot of new …
October 23, 2015
David Parkinson of the Globe points out that headline inflation may not be benign for much longer: Statistics Canada reported Friday that the consumer price index (CPI) slipped 0.2 per cent in September from August, …
October 22, 2015
Nothing happened today. It looked for a long time as if there would be a significant pullback in the preferred share indices today, but the Forces of Goodness and Truth mounted a counterattack a little …