The fund outperformed in September, due to its low weighting in junk FixedResets, which underperformed (as indicated by the performance difference between TXPR (+0.48%) and TXPL (-0.10%)). There was a modest recovery in the Canadian …
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TD.PR.Y To Reset At 3.5595%
The Toronto-Dominion Bank has announced: the applicable dividend rates for its Non-Cumulative 5-Year Rate Reset Preferred Shares, Series Y (the “Series Y Shares”) and Non-Cumulative Floating Rate Preferred Shares, Series Z (the “Series Z Shares”). …
BNS.PR.Q To Reset At 3.61%
The Bank of Nova Scotia has announced: the applicable dividend rates for its Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 of Scotiabank (the “Preferred Shares Series 20”) and Non-cumulative Floating Rate Preferred Shares Series …
TD.PR.Y, FixedReset To Be Extended at +168
The Toronto-Dominion Bank has announced: that it does not intend to exercise its right to redeem all or any part of the currently outstanding 10 million Non-Cumulative 5-Year Rate Reset Preferred Shares, Series Y (the …
September 25, 2013
One thing (well, one of many things) that has bothered me over the years is the story of Henry Ford as philantropist: Henry Ford’s vision was that a mass-manufacturing solution would save so much money …
BNS.PR.Q, FixedReset, To Be Extended at +170bp
The Bank of Nova Scotia has announced: that it does not intend to exercise its right to redeem the currently outstanding Non-cumulative 5-Year Rate Reset Preferred Shares Series 20 of Scotiabank (the “Preferred Shares Series …
MAPF Performance: August, 2013
The fund outperformed in August, due to its low weighting in junk FixedResets, which underperformed (as indicated by the performance difference between CPD and ZPR). The Canadian preferred share market performed poorly in August, but …
ETC.PR.A: Ticker Change to EQB.PR.A
Equitable Group Inc. has announced: that, effective the start of trading on Tuesday, September 3, 2013, its ticker symbols on the Toronto Stock Exchange (TSX) will change from “ETC” and “ETC.PR.A” to “EQB” and “EQB.PR.A”, …
BMO.PR.R Trades at Good Premium to BMO.PR.M
BMO.PR.R, the new issue recently partially converted from BMO.PR.M started trading today at a fine premium to its Strong Pair. FixedReset / FloatingReset Strong Pairs Fixed-Reset Floating-Reset Fixed-Reset Dividend Rate Fixed-Reset Bid Floating-Reset Bid Implied …
August 21, 2013
Goldman Sachs had an options whoopsy yesterday: For all the efforts to shore up electronic markets in the aftermath of one of America’s biggest trading catastrophes, yesterday’s options malfunction by Goldman Sachs (GS) Group Inc. …