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Enbridge hopes that increased safety procedures, including magnetic resonance imaging testing on pipelines, will be enough to convince locals to approve its Northern Gateway project.
Enbridge hopes that increased safety procedures, including magnetic resonance imaging testing on pipelines, will be enough to convince locals to approve its Northern Gateway project.
(Nathan VanderKlippe/The Globe and Mail)

Preferred share prices slammed just like REITs

It’s hard to hide out there.

As U.S. 10-year Treasury yields soar, rising roughly 50 basis points since early May, the market’s gone a bit bonkers. And yield-driven securities are the hardest hit.

For the most part, the focus has been on real estate investment trusts, which have been slammed. The S&P/TSX Capped REIT Index is down 11 per cent since May 1.