48.45 0.00 (0.00%)
After hours: 4:17PM EST
|Bid||48.41 x 1800|
|Ask||48.42 x 800|
|Day's Range||47.97 - 48.51|
|52 Week Range||34.78 - 48.79|
|Beta (5Y Monthly)||0.74|
|PE Ratio (TTM)||18.34|
|Earnings Date||Feb 07, 2017 - Feb 12, 2017|
|Forward Dividend & Yield||1.68 (3.48%)|
|Ex-Dividend Date||Nov 24, 2019|
|1y Target Est||45.65|
(Bloomberg) -- Canada should follow the U.S. Treasury’s lead and issue 20-year bonds, according to Sun Life Financial Inc.’s asset management unit.Debt due in two decades would help Canada insulate its finances against higher interest rates down the road, but it would also allow asset managers to better pair similarly-dated liabilities with government bonds. That’s the view of Randall Malcolm, Toronto-based senior managing director of fixed income at SLC Management, which oversees C$227 billion ($173.8 billion).“We like to have liquidity in the 20-year part of the curve as we have liability-matching needs across all terms,” Malcolm said in an interview. “It makes sense for them to issue for a few reasons. The current low rates and flat curve are the first incentive.”The U.S. said last week it’s reviving sales of 20-year bonds, a type of security the Treasury abandoned in 1986 in favor of 30-year debt. Canada currently sells 10- and 30-year bonds -- the last time Canada’s Department of Finance issued 20-year bonds was in 1990, according to government data.A 20-year Canadian bond would yield around 1.65%, according to Bloomberg Valuation estimates. That’s ten basis points less than the central bank’s benchmark rate. By comparison, U.S. Treasuries maturing in 20 years would yield 2.10%, or 55 basis points above the Fed effective rate.Exploring new maturities could make sense at a time when Canada anticipates greater-than-expected deficits. Finance Minister Bill Morneau released estimates last month that showed a budget shortfall for the five-year period between 2019 and 2023 exceeding prior forecasts by about C$35 billion.“Locking in lower rates for longer terms gives Canadians greater confidence that a return to higher rates will not impact our standard of life as much,” said Malcolm. “Also, if the government is going to fund long-term infrastructure projects to spur growth, it makes sense to match the term of the funding with the life of the asset.”However, not everyone says Canada should introduce a new maturity. Instead, the country should increase the frequency of its 10- and 30-year bond offerings, Mark Chandler, head of fixed-income research at Royal Bank of Canada, said in an interview.A press officer at the Department of Finance in Ottawa said Canada doesn’t have plans to issue a 20-year bond at the moment. The government typically releases its annual budget by the end of March. To contact the reporter on this story: Esteban Duarte in Toronto at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Allan Lopez, Mark TannenbaumFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?
TORONTO , Jan. 16, 2020 /CNW/ - Morneau Shepell , a leader in pension risk management in Canada , advised Iron Ore Company of Canada ("IOC"), a majority owned subsidiary of Rio Tinto, in its capacity as Plan administrator of its pension plan, on the execution of a buy-in group annuity purchase with Sun Life. The deal, valued at more than CAD $560 million covers more than 3,700 retirees and beneficiaries, helps reduce risks associated with the pension plan and secures the plan's strong financial position. Sun Life was awarded the buy-in group annuity contract following a thorough due diligence process.
First year of the Montreal Heart Institute's Diabetes Prevention Clinic supported by Sun Life Financial
Sun Life Capital Trust II, a subsidiary of Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF), announced today that it has completed the redemption of all of its outstanding $500 million principal amount of Sun Life ExchangEable Capital Securities – Series 2009-1.
Sun Life Financial (SLF) is poised to grow on strategic acquisitions and expanding global asset management business, offset by higher expenses.
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]
WELLESLEY, MA , NEW YORK CITY and TORONTO , Dec. 18, 2019 /CNW/ - Sun Life Financial Inc. (SLF) (SLF) today announced that it intends to acquire a majority stake in InfraRed Capital Partners ("InfraRed"), a global infrastructure and real estate investment manager. InfraRed advises institutional and pooled fund clients on approximately US$12 billion ( C$16 billion ) in assets under management as of September 30, 2019 .
New York Life Insurance Co. is negotiating with Cigna Corp. to buy a unit that sells non-medical insurance products to employers in a deal that could be worth as much as $6 billion.
Sun Life and the Boston Celtics closed out the sixth-annual SunLifeDunk4Diabetes campaign and presented $105,000 to the YMCA of Greater Boston for its Diabetes Prevention Program, a year-long nutrition and health course that helps at-risk adults avoid a diabetes diagnosis. Throughout November, which is Diabetes Awareness Month, each Celtics dunk earned a $1,000 donation from Sun Life, and $2,000 for Jaylen Brown's dunk on November 13 in recognition of World Diabetes Day. This November the Celtics tallied 49 dunks, led by Jayson Tatum with 14, followed by Daniel Theis and Robert Williams with 11 each.
Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) announced today that its subsidiary Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) and Tien Phong Commercial Bank (TPBank) have formed a 15-year bancassurance partnership in Vietnam.
Sun Life Global Investments makes changes to Sun Life Opportunistic Fixed Income Fund and Sun Life Real Assets Fund