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iShares S&P/TSX Canadian Preferred Share Index ETF (CPD)
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Manulife Financial Corporation Non-Cumulative Rate Reset Class 1 Shares Series 23 (MFC.PR.R)
Q: I bought for the first time preferred shares last year as part of a defensive strategy overall. These shares performed as expected and fell in unison with the market in October and December. The rest of my portfolio has nearly recovered and is back to where it was in early fall.
Why are these preferred stocks not recovering? Does the market now believe that interest rates are unlikely to rise so the re-sets now have less value?
Thanks for all your help,
Why are these preferred stocks not recovering? Does the market now believe that interest rates are unlikely to rise so the re-sets now have less value?
Thanks for all your help,
