I have mentioned before my admiration of the US regulatory governance model in which dissent is encouraged and publicized. SEC Commissioner Daniel M. Gallagher is outraged that the Volcker Rule has been finalized: Regulators, including …
Search Results for: performance
December 9, 2013
No commentary today! I’m learning all about SMTP as part of the PrefLetter server migration! The Canadian preferred share market took a pasting today, perhaps due to investors worrying over the weekend about the US …
December 6, 2013
Nice US job numbers! The jobless rate dropped to a five-year low of 7 percent in November as American employers added more workers than forecast, boosting speculation the Federal Reserve may start scaling back stimulus …
November 29 Tracking Error
In the discussion of the performance of MAPF in November, I discussed the apparent tracking error of ZPR – which, as an index fund, should have minimal tracking error – and stated: It will be …
December 5, 2013
It was another negative day for the Canadian preferred share market, with PerpetualDiscounts losing 17bp, FixedResets down 11bp and DeemedRetractibles flat. Volatility was modest. Volume was high. HIMIPref™ Preferred IndicesThese values reflect the December 2008 …
December 4, 2013
More good news for fixed-income investors …: The Bank of Canada says deep discounting by retailers is spreading disinflation – a byproduct of more consumers crossing the border to shop and the arrival here of …
December 3, 2013
Still doing some catching up … there’s a lot of catching up to do! I don’t think there will be much commentary for a little while yet! It was a negative day for the Canadian …
December 2, 2013
Today’s excuse for the lack of commentary is month-end. Good enough? It is interesting to note that TXPR and TXPL were down 38bp and 40bp, respectively, according to the Toronto exchange. These large moves are …
MAPF Portfolio Composition: November, 2013
Turnover remained reasonable in November, at about 9%. 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 …
November 29, 2013
Foreshortened again, late again … but I hope next week will be better … Thank heavens November is finally over! HIMIPref™ Preferred IndicesThese values reflect the December 2008 revision of the HIMIPref™ IndicesValues are provisional …