Bank of Canada

LB.PR.H : Convert or Hold?

It will be recalled that LB.PR.H will reset At 4.123% effective June 15, 2019. LB.PR.H is a NVCC-compliant FixedReset, 4.30%+255, that commenced trading 2014-4-3 after being announced 2014-3-25. The extension was announced 2019-5-7. This issue is tracked by HIMIPref™ but relegated to the Scraps F ...

May’s Resignation means Brexit is Back to Square One

One word perfectly sums up the events of this week. Disappointing.  For some it began with the uninspiring conclusion of Game of Thrones, long-term stock investors grimaced at the lack of progress with the US-China trade war, and FX traders will see the British pound remain in limbo after Prime Mi ...

Escalating Trade Tensions Weigh On Investors

Week of May 20-24 Despite risk appetite improving, market waits for further trade clues Global markets continue to weather some erratic turbulence now that the U.S and China have hit each other with increased tariffs and ended their latest round of trade negotiations without a resolution. But the p ...

Latest in Mortgage News: HSBC Offers Record-Low 10-Year Fixed Rate

Earlier this month, Bank of Canada Governor Stephen Poloz called on banks and other lenders to start pushing longer-term mortgages. Last week, HSBC responded by offering a record-low 10-year fixed rate of 2.99%. That means the peace of mind of knowing mortgage payments won’t change for 10 years ca ...

British pound sinks as end nears for May; Nothing new from FOMC Minutes

The British pound is the worst performing currency, down for a 13th consecutive day as traders prepare for a hardliner to take over Brexit negotiations.  PM May is under intense pressure to resign and she will meet with Graham Brady, chairman of the 1922 committee of backbench MPs, on Friday.  ...

Rate Cut expectations fall after FOMC Minutes see patience for some time

Treasuries kept their gains and the dollar was little changed following the release of the FOMC minutes.  Rate cut expectations are lower, with the September meeting pricing in a 38.6% chance of a rate cut.  Rates are going nowhere for some time. Balance Sheet Normalization Participants resumed ...

MFC.PR.L To Reset To 3.78600%

Manulife Financial Corporation has announced: the applicable dividend rates for its Non-cumulative Rate Reset Class 1 Shares Series 15 (the “Series 15 Preferred Shares”) (TSX: MFC.PR.L) and Non-cumulative Floating Rate Class 1 Shares Series 16 (the “Series 16 Preferred Shares”). With respec ...

USD/CAD Canadian Dollar Rises as USMCA Ratification Near

The Canadian dollar rose 0.16 percent after a long weekend. The loonie benefited from rising risk appetite and given that the US reached an agreement with Canada and Mexico to cancel steel and aluminum tariffs the currency was exempt from trade war tensions. The Bank of Canada has kept rates unc ...

LB.PR.H To Reset At 4.123%

Laurentian Bank of Canada has announced: the applicable dividend rates for its Non-Cumulative Class A Preferred Shares, Series 13 (the “Preferred Shares Series 13”) and Non-Cumulative Class A Preferred Shares, Series 14 (the “Preferred Shares Series 14”). With respect to any Preferred Share ...

RY.PR.Z : No Conversion To FloatingReset

Royal Bank of Canada has announced (on May 14): that, during the conversion notice period which ran from April 24, 2019 to May 9, 2019, 647,939 Non-Viability Contingent Capital (NVCC) Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series AZ (the “Series AZ shares”) were elected for co ...