***
For a summary of the rankings of our entire convertible debenture coverage universe including the quantitative model prices of, and notes on each issue we follow, click on the table below to view it larger.
Important: Like everything else on this website, content here is provided as information and opinions only and not intended to be a provision of investment advice or a recommendation of any investment action in any form. There is no guarantee, warranty, representation, or other assurance whatsoever on any of the information provided. Information and opinions reflect our views as of the date provided, but may change without notice. Investments made in convertible debentures are exposed to the risk of financial losses, and as with all disseminated information concerning investments, it is highly recommended that an individual consult with a qualified investment professional before making any investment decisions.
Market Commentary - Super Quick Points (May 10, 2019)
- For pretty much the first time in calendar 2019, equity markets looked rather shaky in the last week thanks to US-China trade tensions that were pretty much exclusively caused by the tiresome bluster of the tweeter-in-chief.
- Broad-brush tariffs form the basis of dubious economic policy, but perhaps something was needed to distract from the executive branch's blatant efforts to stall every attempt of the legislative branch in the US to conduct its constitutional oversight.
- This is now the sad state of US political discourse, I suppose.
- Dare I say this type of politics is also gaining steam in Canada. There's so much peddling of easy answers to a angry, misinformed electorate - is "winning" at all costs really winning anything in the end? Anybody else bracing themselves for an ugly federal election campaign in a few months? But I digress.
- Politics aside and back on topic, equity markets have gone up far and fast this year, and are due for a breather. I hesitate to say "sell in May and go away" in part because where else does one go, but things do make me nervous.
- Thankfully, the economy no longer is pricing in any kind of recession in 2019. That ultimate central bank put (whether the central bankers like to call it that or not) is definitely helping confidence.
- Bond yields remain almost ridiculously low in Canada, but the yield curve remains flatter than the plains of Saskatchewan, where you can watch your dog run away for a week.
- So where does that leave a convertible debenture investor?
- I say: quality, quality, quality ... be careful with the high credit risk names at this point. Convertible debentures as measured by the Peanut Convertible Debenture Index™ have also done remarkably well thus far in 2019; we cannot expect this pace to continue.
- And as per usual, stay focused on the long-term and protect your capital.
Picture of the Day
Canada Goose goslings are a sure sign of spring. Edmonton, Alberta. Copyright © 2017 Felix Choo / dingobear photography. Picture available for licensing at Alamy Images. Photo may not be reproduced without permission.
Drop Us a Line, Drop Us a Dime
Thank you for reading The Canadian Convertible Debentures Project. As always, if you have any comments, questions, or feedback about convertible debentures and/or this blog, please leave us a comment at the bottom of the page or email us at convertibledebs@gmail.com. Note it may take us a few days to get back to you depending on our schedules.
In addition, for media, sponsoring, and/or financial institution inquiries, please email us at convertibledebs@gmail.com. We appreciate your interest!
If you enjoy reading this blog and find it useful and valuable in your own investing in convertible debentures, we'd be humbled if you'd like to make a contribution to support us in our mission of making quality, independent, Canadian convertible debentures content freely available to all investors, big or small, out there. We thank you for your continued support!
***
No comments:
Post a Comment