Post by
pierrelebel on Jun 07, 2024 4:18pm
Oh well... it did not go as expected!
Not a good day for BPO five year reset preferred shares today.
All issues are down, many in the 2% to 3% range on the day.
Considering the drop in interest rates by the Bank of Canada two days ago one would have expected a good week. It did not happen.
The yield on BPO.PR.T has increased this week to 11.44%. Hard to believe with Canadian interest rates going down.
Oh well.... life does go on.
Reminder - ALL five year reset preferred shares are going ex-dividend next Friday.
Comment by
SONOFFERGUS on Jun 07, 2024 4:38pm
Fixed reset ETFs were smashed this week too. "Markets are forward looking." Lol. Might be some short covering coming into dividends. I sold a bunch of As and Ns earlier this week and tried to buy back in, but was too cheap to get a decent fill. Oh well, as you say.