+1. yes. It's just a good thing I don't need the money. I can re-invest it. That mitigates the loss. I don't want to be out of bonds, totally.

and just for fun, here's a two-nie.

+1. yes, loonies = CAD.

TIAA T-REA/QREARX has been slowly changing its property mix. So, the offices are down to 29.6% of properties on 6/30/22 (from 36.6% on 6/30/21) and retail down to 12.3% (vs 16.9%). New purchases have been in apartments, medical offices, storage, industrial facilities, land. Following are periodic reports elsewhere for those interested,
Advance Fact Sheets (sample) https://community.morningstar.com/s/question/0D53o00006AWMRuCAP/trea-fact-sheet-63022
Quarterly 10-Qs (history since mid-2021) https://ybbpersonalfinance.proboards.com/post/733/thread

Think that is in Canadian $. With the exchange rate today $1 USD = $1.29 CAD, does it convert to 3.41% yield (4.4% / 1.29 = 3.41%)?
If that is correct, it is higher than 1 yr CD in US, 2.90% as of last week.

Not sure how the exchange rate would impact the yield except for the exchange rate risk at the end of the term.

I wonder how this trend might affect the TIAA Real Estate fund, which IIRC had a lot of prime office buildings? Remote work trends in many sectors definitely is having an impact on the need for costly "downtown" office properties, let alone large office properties generally. I don't think things will ever go back 100% to the way they were pre-Covid.
Pension Funds Are Selling Their Office Buildings
https://www.wsj.com/articles/pension-funds-are-selling-their-office-buildings-11661381460
Major U.S. and Canadian pension funds are cutting back investments in office buildings, betting that prices will likely fall as the five-day office workweek becomes a thing of the past.
Retirement funds are still buying property, partly in a bid to reduce the impact of inflation. But those investments are more focused on warehouses, lab space, housing and infrastructure such as airports.
The shift is part of a broader transition away from traditional real estate holdings in offices and shopping centers as the Covid-19 pandemic has accelerated the rise of e-commerce and remote work.
< - >
North American public pension funds manage more than $6 trillion and allocated an average of 8.7% to real estate as of Aug. 19, according to researcher Preqin Ltd.
Private real-estate funds currently hold 23% of their investments in offices, down from 34% three years ago, according to an index maintained by the National Council of Real Estate Investment Fiduciaries. These funds’ holdings in retail space have fallen to 10% from 17% over the same period, the council said.
Meanwhile, industrial properties have grown to account for 31% of those private real-estate funds’ investments, according to the council, up from 18% in 2019. Pension officials are increasingly seeking out stakes in airports, highways and utilities. Those so-called infrastructure assets have grown to 4.1% of total pension portfolios from 3% in 2017 for retirement funds that report them separately from other real-estate assets, according to Preqin.
< - paywalled sadly unless you know how to get around them and/or are subscribed - >

Think that is in Canadian $. With the exchange rate today $1 USD = $1.29 CAD, does it convert to 3.41% yield (4.4% / 1.29 = 3.41%)?
If that is correct, it is higher than 1 yr CD in US, 2.90% as of last week.

truth. i'm down -12 percent in TUHYX. 9.41% SEC Yield right now, though.

+1.

Banking in Canada isn't as fragmented as in the US. The Top 100 global bank list has several Canadian banks. Chinese banks dominate. The US banks are there but don't dominate the list.
https://en.wikipedia.org/wiki/List_of_largest_banks

If one buy and hold treasuries until maturity, they will get decent yields. Treasury funds and ETFs are different story and they are down ranging from 3 to 22%! YTD total bond index is also down 10%. So much for flight to quality and counteracting the equity risk.
The two T. Rowe Price HY bond funds are down by 8 - 10%, while the bank loan fund (still junk bonds) is somewhat better at -0.9%. I believe David Giroux invests in this BL fund for his bond allocation. This year there are few bond funds that remain positive in this rising interest rate environment.

Energy may have redefined volatility (besides cryptos, of course). XLE was very strong, crashed in June/July, and rebounded now with fury. ALL of its components are again above 200-dMA. If oil remains $90+ (new OPEC-put price?) and crack-spread remain strong, refiners would be swimming in profits and cashflows. This may sound very strange with the talk of recession but then 2022 has been a very unusual year.
Chart from Twitter Link.

Excerpts from article above:

Billed as a “zero emission” mode of transport, the trains mix hydrogen on board with oxygen present in the ambient air, thanks to a fuel cell installed in the roof. This produces the electricity needed to pull the train.

Hydrogen-based polymer exchange membrane (PEM) fuel cells have been around since the early days of space program. Apollo 13 had an accident that nearly ended the mission. https://nssdc.gsfc.nasa.gov/planetary/lunar/ap13acc.html
PEM fuel cells produced an electrical current when hydrogen reacts with oxygen and water is produced as the only by-product (no CO2). However, there is few infrastructure existed for hydrogen gas in contrast to gasoline and propane stations. Also safety storage of hydrogen is challenging than those liquified natural gas - metal embrittlement.
It’s good that Germany is making it happens on their fleet trains since they have few choices. Canada has some fleet bus lines powered by PEM fuel cells. It is the lack of infrastructure that limits a wider adoption. Also the high cost of fuel cell cars poses another barrier in the private car industry.
Electrical vehicles are facing similar challenge on the charging stations across the country, especially along the interstate freeways. So the egg and the chicken question still persists.

https://www.sec.gov/Archives/edgar/data/1511699/000089418922005984/greatlakesfunds-reorgsuppl.htm
Great Disciplined Equity Fund
Great Lakes Large Cap Value Fund
Great Lakes Small Cap Opportunity Fund

For the week ending on 8/24/22, Bearish remained the top sentiment (42.4%; high) & bullish became the bottom sentiment (27.7%; low); neutral became the middle sentiment (29.9%; below average); Bull-Bear Spread was -14.7% (low). Investor concerns: Recession/slowdown; inflation (more fiscal stimulus); supply-chain disruptions; the Fed Conf at Jackson Hole; market volatility (VIX, VXN, MOVE); Russia-Ukraine war (26+ weeks); geopolitical. For the Survey week (Thursday-Wednesday), stocks were down sharply, bonds down, oil up sharply (OPEC put?), gold down, dollar up sharply. #AAII #Sentiment #Markets
https://ybbpersonalfinance.proboards.com/thread/141/aaii-sentiment-survey-weekly?page=7&scrollTo=751

I've begun to notice ADRs labeled "sponsored" or "unsponsored." What's the difference? Thanks.
https://www.google.com/search?q=alstom+stock&rlz=1C5CHFA_enUS1007US1007&oq=alstom+stock&aqs=chrome..69i57j0i512l5j46i175i199i512j0i512l3.3672j1j15&sourceid=chrome&ie=UTF-8
And WTF is THIS????
So many different listings?
https://www.morningstar.com/search?query=Alstom SA ADR

Not sure I agree with the article posted above. How can bonds rally when the Fed is raising rates until inflation is contained? This can continue until 2023. Powell does not care if the rate height and QT will trigger a recession. Don’t know if the summer rally continues or if that is a bear market rally.

I think they're saying there will be a flight into quality--- Treasuries---- thus raising the price but reducing the yield. As for me, I'm sticking with my stake of 11% of portfolio in Junk. Juicy yield, just now. Reinvesting it all.

@Observant1 and @yogibearbull, I must have misread it.
Thank you, @Crash and @BenWP.
I am seeing on M* that GQHIX 's Alpha is negative, which is odd.

24 august '22:
HOUSTON, Aug 24 (Reuters) - U.S. pipeline operator Energy Transfer LP on Wednesday said it agreed to supply 2.1 million tonnes of liquefied natural gas (LNG) per year to Shell Plc for 20 years.
The deal for supplies from its proposed Lake Charles, Louisiana, facility comes as demand and prices for LNG are soaring over Russia's February invasion of Ukraine. LNG prices at the Dutch hub in Europe this week hit $83 per million British thermal units (mmBtu), more than twice that of early March.
Shell was an original backer of the facility, which received U.S. permits in 2015 to produce 16.4 million tonnes per annum (MTPA) of the superchilled fuel. But the British oil giant quit the project two years ago as energy markets tumbled during the coronavirus pandemic.
Energy Transfer more recently has signed a string of agreements with potential buyers to supply about 8 MPTA. The Shell agreement anticipates first LNG deliveries under the contract as early as 2026. U.S. permits for the project were issued in 2015, but Energy Transfer has not yet reached a financial greenlight. (Reporting by Rithika Krishna in Bengaluru; Editing by Aditya Soni and Richard Pullin)