On Tuesday, the S&P 500 was about unchanged while Toronto was up 0.3%.
The rate reset preferred shares seem to be rising the last few days. This despite that the five year government of Canada yield remains low at 0.6%. If interests stay very low then perhaps some of these pref shares that will reset at say 4% won’t look too bad. But each of these has to be looked at individually as the reset premiums over and above the lowly five year yields vary a lot as does the timing of the next reset.
We have a number of earnings reports to look forward to in the next few days.
I note that Valeant jumped after saying it will sell assets to reduce debt. I would not get too excited about that until we see if they can sell assets for more than they paid or not.