January 9, 2018 9:35 am eastern

I notice Brookfield Renewable Partners L.P. has an offering this morning (still open at TD Direct as I write this) that pays a minimum 5.0% on a rate reset preferred share. This seems tempting. Even with interest rates rising, 5% does not seem like a bad return on what I certainly suspect is a safe security. And if rates do rise a lot, at least it resets in five years. And if interest rates happen to fall, the 5.0% minimum would apply at the reset date.

MedReleaf LEAF.TO is out with an offering of $100 million is shares at $26.50 and this includes a half warrant exercisable for two years at $34.50. The stock closed yesterday at $29.20 with a market cap of $2,763 million. I think it is extremely wise for the company to bring in cash while its shares are hot. It will be interesting to see if the issue at a bit of a discounted price causes the market price to cool. I note that TD Direct does not list this new issue. I don’t know if they have been involved in other share sales by the Cannabis companies.

Rob Carrick in the Globe and Mail this morning reports that Fear of Missing Out is gripping the market pushing stocks higher. That seems accurate.