Yikes! What Has Happened To My Preferred Shares?

When the Bank of Canada dropped its overnight lending rate by a quarter percent in January 2015, the markets were caught off guard. Consensus had been that the US Federal Reserve would raise rates in 2015 and that the Bank of Canada would follow suit. Expectations for rate increases had been factored into the markets. Seeing the impact of falling oil and raw materials prices on the Canadian economy, the Bank of Canada decreased its overnight interest rate in an effort to provide some...