Hockey night in Sweden. Brynäs IF vs. Djurgårdens IF, at the Hovet in Stockholm, Sweden. Copyright © 2007 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, and now you know it as the 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™ (August 2019 Review)
Another month, and another month of positive returns for Canadian convertible debentures. In August, the Peanut Convertible Debentures Index™ went up 1.64%. Year-to-date to August 31, 2019, the Peanut Index is up 10.47%, exceeding the return of the FTSE TMX Canada Convertible Bond Index™ by 336(!) basis points.
Bond yields plummeted in August, which pulled up bond prices, convertible debentures included. Geopolitical and economic risks remain elevated, and central banks look fairly firmly in an easing cycle now. Trade worries between the US and China still linger in the background, but stock markets, for now, are still scaling the wall of worry. None of us have a crystal ball as to how long this will continue, but in the event of a serious adverse market event, convertible debentures won't be immune from the damage. As per usual, stay diversified out there and focus on the long-term.
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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