A rate increase by the Bank of Canada, rising bond yields, and absence of new issue supply were contributing factors in the good result.
Find out how preferred shares may perform in a rising rate environment.
Illiquid conditions, two new issues, and strength of the floating rate sector were part of a mixed market performance scenario in December.
Good investor demand pushed preferred share prices higher and yields lower in November, while two new issues came to market.
Preferred share prices moved higher in October, driven by lack of new issues, lower bank issuance concerns, and solid investor demand.
Favourable economic conditions, a BOC interest hike, and good corporate creditworthiness translated into a strong preferred shares market for September.
Risk-off sentiment across global markets, driven primarily by geopolitical tensions, led to a decline in the preferred shares market in August.