Global X Canada Preferred ETFNYSEARCA
CNPF is defunct since October 24, 2014. Lack of investor interest
  • Sep. 24, 2014, 12:06 PM
    • The last day of trading for the Global X Canada Preferred ETF (NYSEARCA:CNPF) and the Global X Pure Gold Miners ETF (NYSEARCA:GGGG) will be October 16th, with liquidation occurring on October 24th.
    • The closing funds combined represent less than 1% of the $4.2 billion total assets of the Global X funds and closing these two will allow the firm to better allocate resources and grow.
    • There is no direct replacements for CNPF, but there are other gold miner ETFs available to investors: GDX, NUGT, DUST, GLDX, RING, GGGG, SGDM, PSAU
    | Sep. 24, 2014, 12:06 PM
  • Apr. 21, 2014, 1:40 PM
    • The PowerShares Variable Rate Preferred Portfolio (VRP) will track the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index to gain exposure to capital weighted pool of preferred stocks and qualifying hybrid securities.
    • Lorraine Wang, Invesco PowerShares Global Head of ETF products and research, said in the statement earlier: “We believe VRP offers investors the potential for high current income and lower interest-rate sensitivity than traditional fixed-rate preferred securities. Dividends from variable-rate preferred securities also receive preferential tax rates compared to interest income, which makes them particularly attractive for top tax bracket investors.”
    • This would be the third preferred stock focused ETF for Invesco, with the Preferred Portfolio (PGX) and Financial Preferred Portfolio (PGF) returning 5 and 6% respectively since the start of 2014.
    • Other preferred share ETFs: PFF, CWB, PSK, PFXF, SPFF, IPFF, CNPF, FPE
    | Apr. 21, 2014, 1:40 PM | 1 Comment
  • Oct. 23, 2013, 10:18 AM
    • The loonie (FXC -0.8%) slips about 45 pips after the Bank of Canada leaves its benchmark rate unchanged at 1%, but is decidedly dovish in its accompanying statement (though this was somewhat expected).
    • The global economy's "near-term dynamic has changed and the composition of growth is now slightly less favorable for Canada ... Uncertain global and domestic economic conditions are delaying the pick-up in exports and business investment, leaving the level of economic activity lower than the Bank had been expecting."
    • "The fact that inflation has been persistently below target means that downside risks to inflation assume increasing importance."
    | Oct. 23, 2013, 10:18 AM | 2 Comments
  • Sep. 30, 2013, 8:55 AM
    • Canadian GDP growth of 0.6% in July surpasses expectations of 0.5% and is the strongest print since July 2011. Before getting too excited, it's worth remembering GDP slid 0.5% in June - the biggest decline since the 2009 recession.
    • On a year-over-year basis, GDP rose 1.4% in July, up from 1.1% in June.
    • The headline is good for a 20 pip pop in the loonie (FXC), now +0.15% and buying $0.9720.
    • Canadian ETFs: EWC, FCAN, CNDA, EWCS, CNPF, CAD.
    | Sep. 30, 2013, 8:55 AM
  • Sep. 6, 2013, 9:03 AM
    • Canada added 59K jobs in August, nearly tripling expectations of 20K. The unemployment rate fell to 7.1% from 7.2%. Over the last 6 months, employment gains have average 12K/month vs. 29K/month in the preceding six month period.
    • The loonie parties, +1% and buying $0.9613. FXC +0.8% premarket.
    • Canada-related ETFs: EWC, FCANCNDA, EWCS, CNPF, CAD.
    | Sep. 6, 2013, 9:03 AM | 3 Comments
  • Sep. 4, 2013, 10:22 AM
    • As expected, the bank leaves its benchmark overnight rate at 1%. The "dynamic" of global expansion has moderated, goes the statement.
    • "Uncertain global economic conditions appear to be delaying the anticipated rotation of demand in Canada towards exports and investment."
    • The loonie is trading a bit stronger than before the announcement and buying $0.9530. FXC +0.15%.
    • Canada ETFs: EWC, FCAN, CNDA, EWCS, CNPF, CAD.
    | Sep. 4, 2013, 10:22 AM
  • Aug. 30, 2013, 9:10 AM
    • June GDP contracted by 0.5% against expectations for -0.4% and +0.2% in May. For all of Q2, GDP grew at an annualized pace of 1.7% vs. 2% expected and 2.2% (revised from 2.5%) in Q1.
    • The loonie (FXC) adds about 15 pips on this seriously aged data, now unchanged on the session and buying $0.9494.
    • Canada ETFs: EWC, FCAN, CNDA, EWCS, CNPF, CAD.
    | Aug. 30, 2013, 9:10 AM
  • Apr. 24, 2013, 8:55 AM

    Cautious on Canadian stocks of late, Desjardins Capital's Ed Sollbach is taking advantage of the TSX's 7.3% decline over the last 6 weeks to put money to work, particularly in the materials and energy sectors hard-hit be the big decline in commodity prices. EWC has underperformed the S&P 500 by nearly 1,700 bps YTD.

    | Apr. 24, 2013, 8:55 AM
  • Apr. 15, 2013, 10:02 AM
    Underperforming today as commodities (DBC -1.7%) take a beating is Canada, the TSX -1.5%. Also seeing little love is the loonie (FXC -0.6%). The move in the MSCI Canada Index ETF (EWC -2.4%) reflects both the loss in shares and the currency. EWC is now off 5% YTD, trailing the S&P 500 by 1500 basis points.
    | Apr. 15, 2013, 10:02 AM
  • Jan. 23, 2013, 10:08 AM

    The Bank of Canada fires a shot in the currency wars, holding its benchmark rate at 1% and calling the chance of higher rates "less imminent." The loonie slides 40 pips, now -0.5% and buying $1.0036. FXC -0.4%.

    | Jan. 23, 2013, 10:08 AM
  • Dec. 14, 2012, 10:46 AM

    Canadian energy interests need to accept what the courts already have: After 170 legal victories, First Nations now hold the balance of power in deciding the fate of Canada’s resource projects because they have rights others don’t, according to Bill Gallagher. He praises Suncor (SU) and Syncrude oil sands for their cooperative approach; Northern Gateway and other pipeline projects should take note.

    | Dec. 14, 2012, 10:46 AM
  • Dec. 4, 2012, 7:45 AM

    The strong loonie may have Canadian shoppers showing up at U.S. malls, but it's the "heart of a renaissance" in business spending, says a bullish David Rosenberg. Still contracting in the U.S., capital spending in Canada is a full percentage point above the norm, promising to generate the productivity and job growth necessary for sustainable recovery.

    | Dec. 4, 2012, 7:45 AM | 2 Comments
  • Nov. 30, 2012, 9:11 AM

    Canada's real GDP grew just 0.1% in Q3, slowing from Q2's 0.4%. GDP grew 0.6% on an annualized basis, short of expectations for 0.9%. A sharp 2% decline in exports - the biggest in 3 years - led the slow print. The loonie takes a small stumble, now -0.2% and buying $1.0064.

    | Nov. 30, 2012, 9:11 AM | 1 Comment
  • Aug. 28, 2012, 12:46 PM

    Operating profits for non-financial Canadian corporations put in their worst H1 performance since the bursting of the dot-com bubble, falling 5% in Q2 on top of a 5.1% drop in Q1. The report comes not long after BOC Governor Carney's demand for companies to put their cash to work or give it back to shareholders.

    | Aug. 28, 2012, 12:46 PM
  • Jul. 18, 2012, 11:07 AM

    Preferred stock ETF investors frustrated by most funds' heavy exposure to financials have an alternative in Van Eck's just-launched PFXF. The fund attempts to mirror the performance of the Wells Fargo Hybrid and Preferred Securities ex-Financials Index.

    | Jul. 18, 2012, 11:07 AM
  • Jul. 17, 2012, 3:03 PM

    Preferred stock investors (PFF) - currently in the enviable position of earning a sweet return as the supply of available shares dwindles - get another fund to choose from with the launch of the Global X SuperIncome Preferred ETF (SPFF), set up to track an S&P Index of the highest yielding preferreds in the U.S. and Canada.

    | Jul. 17, 2012, 3:03 PM
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