November 14, 2014 10:30 am

TransCanda is out with a 4.9% minimum rate reset preferred share. That seems attractive for a portion of most portfolios. At the moment it was not sold out but likely will sell out very quickly.

U.S. bank shares are up sharply again today. Those holding larger positions might want to consider trimming those positions on this news, especially Wells Fargo which faces unknown fines and troubles due to the unauthorized account opening scandal.

Rate reset shares have increased somewhat due to the recently higher Canada 5 year bond yield. But they may not have reacted fully to the change and many of the issues that are well be $25 and that have at least one year before they reset could certainly increase further if indications continue that interest rates will finally rise. The Canadian Western Bank rate reset share on our list would be an example at its current price of $19.30.