Grinder, one of two resident rescue grizzly bears who lives at the Grouse Mountain Refuge for Endangered Wildlife, wants you to know he just can't bear (1) Mondays, (2) the US administration's heartless gutting of the Endangered Species Act, and (3) the terrible US trade policies that threaten to plunge the global economy into recession. Grouse Mountain, North Vancouver, British Columbia. Copyright © 2019 Felix Choo / dingobear photography. Photo may not be reproduced without permission.
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We introduced the Peanut Convertible Debentures Index™ back in January, which has grown to become the (in our opinion, anyway) benchmark convertible debentures index in Canada! For more background on the index, please click here.
Important disclaimers: 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.
Peanut Convertible Debentures Index™ (July 2019 Review)
In July, Canadian convertible debentures continued to rip higher, with the Peanut Convertible Debentures Index™ advancing 2.61%. Year-to-date to July 31, 2019, the Peanut Index is up 8.69%, exceeding the return of the FTSE TMX Canada Convertible Bond Index™by 75 basis points.
As you already undoubtedly know, August has been a volatile month in markets, with bond yield curve inversion and markets suddenly fearful that terrible global trade policies from you-know-who are possibly coming home to roost in the form of a global economic recession. As at the time of writing, convertible debentures are still up even further since the end of July (specifically, the Peanut Index is up 9.56% year-to-date to August 16), but in the event of a serious adverse market event, they will not be immune from getting sideswiped. As per usual, stay diversified out there.
Please click on the table below to also see how performance for the Peanut Convertible Debentures Index™ compared with two exchange-listed Canadian convertible debenture ETFs, the iShares Convertible Bond Index (ticker: CVD) and the CI First Asset Convertible Bond Index (CXF), as well as the FTSE TMX Canada Universe Bond Index™ and the S&P/TSX Capped Composite Index. Pro tip: if you still find the table below too small to read after clicking on it, please simply download the PNG file, which then can be zoomed to a size that you prefer.
If you're a regular reader of this blog, you are probably already aware that we update the Peanut Convertible Debentures Index™ levels and daily percentage changes on a frequent basis in the dedicated widget on the right sidebar for desktop users and the Peanut Convertible Debentures Index™ page for both desktop and mobile users.
We will return to do another performance update post in about a month's time. Until then, good luck with your convertible debenture (and other) investing.
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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.
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