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Sold Canadian dollars; bought US corporate bonds [ClearOnMoney]
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Sold Canadian dollars; bought US corporate bonds

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Investment

Sold Canadian dollars; bought US corporate bonds

23 Feb 2010 by Jim Fickett.

Over the course of 2009 I put 1.5% of the portfolio into FXC, a money market fund in Canadian dollars. The Canadian economy, financial system, and government all entered the crisis in much better shape than the US, and I thought this would eventually be recognized in the currency. It was. I just sold and, taking purchase and sale prices, interest, and commissions all into account, I made 18%.

I'm keeping a fair amount of cash, as I think we are nearing the end of a bear market rally. My best guess is that we are in for 3 or 4 more years of debt reduction and slow growth, which will bring down the prices of many asset classes. So I am trying to keep bond maturities in that range. The exact bonds don't matter – my criteria is to look for bonds of 2-4 year maturity, with ratings toward the lower end of investment grade, and yields of 3-4%. I plan to hold to maturity, though that could change.