The Globe and Mail reports in its Friday edition that the surprising flurry of share sales marks the end of a financing drought and a reversing of Bay Street's fortunes. The Globe's Tim Kiladze writes that what started with a run-of-the-mill preferred-share offering from Pembina Pipeline has morphed into a share-sale bonanza, with $4.6-billion raised since last Monday. Emera late on Wednesday extended the wild run, announcing a new deal to raise $700-million by selling new shares. The recent spate of deals was originally driven by pipeline financings, but it has since spread to other sectors, including real estate and financial services. In the past week new financings have come from Exchange Income and Fiera Capital. A number of these deals have drawn institutional investors, such as Enbridge's $1.5-billion private placement of shares, but the offerings are largely driven by retail investor demand, which is why many have come in the form of preferred shares or convertible debentures. Both of these securities carry lucrative yields. Early in 2017 Canadian companies extended their hot streak for equity offerings with big deals from Cenvous Energy and AltasGas, but by July, investor appetite had severely waned.