The FOMC release was ‘steady as she goes’: Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace. Labor market conditions have improved …
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BCE.PR.F To Reset At 3.110%
BCE Inc. has announced (emphasis from original) that it: will, on February 1, 2015, continue to have Cumulative Redeemable First Preferred Shares, Series AF (“Series AF Preferred Shares”) outstanding if, following the end of the …
BCE.PR.F To Reset Effective February 1; Holders May Exchange to BCE.PR.E
BCE Inc. has announced: 1. Holders of BCE Inc. Series AF Preferred Shares have the right to convert all or part of their shares, effective on February 1, 2015, on a one-for-one basis into Cumulative …
January 7, 2015
Buy on dips? Not if you’re a central banker! The total amount of reserves held in euros fell 8.1 percent in the third quarter, more than the currency’s 7.8 percent decline in the period against …
MAPF Performance: December 2014
The fund outperformed significantly in December. ZPR, is an ETF comprised of FixedResets and Floating Rate issues and a very high proportion of junk issues, returned -0.73%, -0.43% and +4.72% over the past one-, three- …
MAPF Portfolio Composition: December 2014
Turnover continued to be above average in December, at about 19%. 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 …
AZP.PR.C Weakly Bid On Zero Volume
There are now about 1.66-million shares of AZP.PR.C outstanding following a 42% conversion from AZP.PR.B – which are going to be a nightmare for novices to trace, since this was issued as EPP.PR.B, then changed …
FFH.PR.D Richly Priced On Debut
There are now about 4.0-million shares of FFH.PR.D outstanding following a 40% conversion from FFH.PR.C. FFH.PR.D is a FloatingReset, paying the three-month bill rate +315bp, reset quarterly. It is convertible back to FFH.PR.C on 2019-12-31 …
TRP.PR.F Extremely Rich On Opening Day
There are now about 12.0-million shares of TRP.PR.F outstanding following a 57% conversion from TRP.PR.A. TRP.PR.F is a FloatingReset, paying the three-month bill rate +192bp, reset quarterly. It is convertible back to TRP.PR.A on 2019-12-31 …
December 30, 2014
Kevin Carmichael of the Centre for International Governance Innovation writes a piece in the Globe titled Canada’s monetary authority lacks American commitment to transparency: The Bank of Canada believes transcripts and minutes would degrade the …