Back to all posts
Daily Update••By Frankie

Canadian Preferred Shares Market Update - February 19, 2026

Market Overview

The Canadian preferred share market showed continued strength today with bank issues leading gains on higher-than-average volume.

#

Key Highlights

Bank Preferreds Rally

  • Royal Bank preferreds saw increased buying interest with RY.PR.H trading at 6.10% yield

  • National Bank NA.PR.K remains the highest yielding Big 6 issue at 6.55%

  • BMO reset preferreds holding steady above 6% yields

    • Top Volume Issues Today
    1. ENB.PR.B - Enbridge with strong institutional buying
    2. NA.PR.K - National Bank Series K leading bank volumes
    3. FFH.PR.G - Fairfax continuing to attract yield-seekers at 8.00%

    Credit Rating Watch

  • All Big 6 bank preferreds maintain P-1 DBRS ratings

  • Fairfax (P-2) continues to offer the highest yield in our coverage

    • #

    Market Outlook

    With the Bank of Canada signaling potential rate stability, reset preferreds with spreads above +3.00% are offering some of the widest risk-adjusted yields in the market. The current environment features:

  • Bank reset preferreds with 2026-2028 reset dates

  • Utility preferreds with lower historical volatility

  • Insurance preferreds with higher yields

    • #

    Data Highlights

    Quality reset preferreds are currently yielding at elevated levels. P-1 rated issuers with reset spreads of +3.00% or wider currently screen at:

    ---

    Data as of market close February 19, 2026. Not investment advice.

    Get the weekly preferred share read

    New analysis on resets, redemptions and new issues — straight to your inbox.

    Secure Your Edge

    Get 14 Days Early Access to the Premier Preferred Shares Intelligence Before Anyone Else after launch.

      We respect your privacy. Unsubscribe at any time.

      Built with Kit