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| David Schaffner of Leith Wheeler |
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| Comment | Bank of Montreal | BMO-T | 54.550 | Capital Trust II 10% bonds. The legal maturity is almost a century from now but is structured to be redeemed in 10 years. If the bank lets the bond remain outstanding they will have to pay a government bond yield +10%. | 2009-08-04 | ||
| TOP PICK | Manulife Financial | MFC-T | 26.130 | Senior insurance bond maturing in 10 years, 7.768% coupon yielding 5.4%, about 1.8% more than the government. Canadian financial system is very strong. Very well capitalized and he expects it to return to profitability soon. | 2009-08-04 | ||
| TOP PICK | Toronto Dominion | TD-T | 64.850 | TD Capital Trust IV bonds callable in 10 years with a 9.5% coupon yielding about 6.2%. One of the top banks for management. Very solid bank and very profitable. 2.5% better than the government bond. | 2009-08-04 | ||
| Comment | Yellow Media Inc | YLO-T | 5.090 | Has been a very acquisitive company for the past few years and bond investors typically don't like this. There have been quite a few bonds issued by the holding company and he prefers bonds that are issued by the actual operating company. Also, some of their advertising revenue is starting to migrate to other media. Thinks there are better opportunities for the same value but the ones with the shorter maturity are not too bad. | 2009-08-04 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Government bonds. Currently rates vary from just over 1% to a high of 4% in the longest bonds. If you are looking for higher rates, you have to wait for inflation to rise considerably. This is not likely in the next 1 to 2 years. | 2009-08-04 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Real Return Bonds are a different asset class than the normal corporate bonds. Value is determined by inflation and real return. More of an insurance policy. If you are concerned that inflation will rise and are willing to accept a lower return. | 2009-08-04 | ||
| TOP PICK | A Comment -- General Comments From an Expert | A Commentary | 0.020 | MLFA 2002 bond. A pool of Canadian commercial mortgages secures interest and principal. The mortgages are well diversified across Canada. Short maturity of 2 or 3 years. AAA rated. Trading with a yield of 4% or more of a Canada government bond. | 2009-08-04 | ||
| Comment | iShares DEX Universe Bond ETF | XBB-T | 29.390 | Fixed income fund so advantage is lower volatility and lower management fees. On the other hand, there could be a fun that is actively managed and even though it has a higher MER it could be worthwhile. | 2009-08-04 | ||
| BUY | Brookfield Asset Management Inc. | BAM-N | 20.640 | Bonds maturing 2017. Price of these bonds has gone from 100 cents on the dollar to about $.87. If an experienced investor with a long time horizon, these could be looked at. Company has a lot of high-quality assets so can raise a lot of money by selling some of these. Assets throw off pretty stable cash flows for the long-term. | 2009-08-04 |
