Markets were “mixed” on Tuesday with the S&P 500 down 0.1% and Toronto up 0.1%
Constellation Software was down 3.3%. This has been a fantastic company in the long term. I will update the report soon.
WSP Global reported after the close. The results are a bit confusing due to accounting changes. But Revenue was up 15%. It appears that adjusted net earnings were about flat using the same accounting for both periods. One headline says the company missed expectations. We shall see how the market reacts.
The five year Canada bond yield has recovered from a very recent dip down to 1.25% and now sits at 1.60%. That is providing some support for rate reset preferred shares.