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HOLD
Strip bonds. With a rise in interest rates will the capital value decrease? Should I sell to capture capital gain or keep them? This was not an individual strip bond but were called packages. They operate like annuities where they have a series of maturities. Very similar to a ladder. Very safe provincials.
COMMENT
COMMENT
TD call about residual with the 1st call date Nov/12 and final maturity is 2017. If this is not called in November is there an impact on the callable residual? Believes that this is a fixed floater, which a bank issues for 5 years and then it would float for 5 years. 99.9% likely that it will be called this fall.
banks
COMMENT
Preferred shares? There are many changes coming to the preferred market. They're less volatile than equities and more stable than bonds. New Basil (?) rules are going to change the game. Banks are likely going to be calling all their bank resets so in the next 3 years, a lot of preferreds will disappear. Some of them are trading above their call price right now so you might consider changing them for some of the perpetuals that are coming out now.
BUY
Covered Call Cdn Banks ETF. Caller would like to sell her 2 banks to buy this. This ETF covers the major banks and writes covered calls that are slightly out of the money going out about a month or so. This produces income no matter what the market is doing. This would be a win because you have more than 2 banks and the covered call provides a margin of safety.
E.T.F.'s
