The fund outperformed slightly in September Click for Big Click for Big I continue to believe that the decline in the preferred share market remains overdone; the following table shows the increase in yields since …
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Massive S&P Downgrade of Bank Preferreds
Standard & Poor’s has announced: •On Sept. 18, 2014, we published our global criteria for rating bank hybrid capital instruments (see “Bank Hybrid Capital And Nondeferrable Subordinated Debt Methodology And Assumptions”). •Following the criteria publication, …
DC.PR.D Commences Trading
Assiduous Reader prefQC gently reminds me that DC.PR.D, the FloatingReset recently converted from DC.PR.B has commenced trading – and I forgot all about it! At any rate, it has started on a strong note, closing …
September 26, 2014
On September 24, I mentioned bank account promotions in which depositors effectively received a lottery ticket for making a deposit – this is similar to premium bonds in the UK, but not government-backed. My attention …
BCE / BAF Preferred Share Symbols Announced, Sort Of, Maybe
Well, pig ignorance and a blithe disregard of the interests of preferred shareholders has struck again, with no announcement on the BCE Inc. preferred share information page regarding the three new series that will result …
September 11, 2014
The loonie got hit today: The Canadian dollar fell to the lowest level in five months as crude oil, the nation’s largest export, traded at almost its lowest point in more than a year. The …
September 4, 2014
Interesting article in the Globe about global real estate flows: In June, Citigroup Inc. paid a record HK$5.4-billion ($697-million) for a Hong Kong office tower that will bring most of its 5,000 employees under one …
DC.PR.B To Reset At 5.688%
Dundee Corporation has announced: Further to Dundee Corporation’s (TSX: DC.A and DC.PR.B) (“Dundee” or the “Company”) news release dated August 26, 2014, the Company announces today the applicable dividend rates for its Cumulative 5‐Year Rate …
MAPF Performance: August 2014
The fund outperformed in August, assisted by its overweight positions in low-coupon insurance DeemedRetractibles, which outperformed. Click for Big Click for Big I continue to believe that the decline in the preferred share market remains …
August 27, 2014
Nothing happened today. It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts gaining 10bp, FixedResets off 10bp and DeemedRetractibles up 15bp. Volatility was muted. Volume was above average, with the highlights …