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In August, the preferred share market continued the positive momentum that started in the last week of July. While perpetual issues outperformed the previous month, it was rate reset issues that were the best performing sector in August. The strong performance of rate reset issues was a somewhat delayed recovery following the weakness caused by two institutional rate reset issues in late July. The S&P/TSX Preferred Share index returned +1.12% in the month and its positive result was in contrast with the negative returns of both equities and bonds. (more…)