A floating rate note is an instrument issued by a corporation where the coupon adjusts each quarter. It is not a money market replacement because there is some credit risk, although not high. It is money market-like because it is linked to short term interest rates. He has shifted a lot of money into floating rate notes because he thinks interest rates will go higher. He has no trouble putting money in. FLOT-N is one he uses in the US.
Floating rate notes give you an income payment adjusted to the change in short term interest rates. They go up in a rising rate environment, but there are not a lot of capital gains in this. He likes these notes in this environment, but more so in the US.
Mackenzie Floating Rate Income ETF is a Canadian stock, trading under the symbol MFT-T on the Toronto Stock Exchange (MFT-CT). It is usually referred to as TSX:MFT or MFT-T
In the last year, there was no coverage of Mackenzie Floating Rate Income ETF published on Stockchase.
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0 stock analysts on Stockchase covered Mackenzie Floating Rate Income ETF In the last year. It is a trending stock that is worth watching.
On 2023-09-22, Mackenzie Floating Rate Income ETF (MFT-T) stock closed at a price of $17.57.