I had a rate reset called in wife's RRIF, so looking for a replacement. I never look at floaters, but your post prompted me to a look at BAM.PR.B .I have maintained a laddered bond portfolio for 20 years. I had a corporate bond mature. I did a check on the RBC inventory and wasn't excited about the minuscule yields. I used these funds to buy BAM.PR.B with a current yield of 3.6% . It is a floater and should do well if we are in a rising rate environment. I fully appreciate this is not a fixed rate investment. Extraordinary times require different choices. I bought a fair chunk of Enbridge and Pembina reset preferred last summer and they have been excellent investments. I am sure with the dividends I am over 50% for returns. I continue to hold them because the yield is over 6% and the rising interest rate sentiment is still bullish for the price.
Likely a good move. I don't own either, but wish I did. Years ago, I did own CP, but must have sold it. Probably when they were having problems. CNR would suit our RRIFS, but no new cash there to buy equities.Started a position in CNR today @ 135.68. I have another order at $129.18 and would pick up a 3rd tranche around $120. Perhaps I overpaid( I don't think so but others may) but I have been missing adding CNR or CP to the stable since I started DIY in 2012. Not looking to make any other buys aside from CNR presently.