March 31, 2020

March 31st, 2020

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oilmoney_200331a

A nice day, for some:

The decimated energy sector has rallied hard off of 20-year lows, pushing Canadian stocks to a decent gain on a day that saw the U.S. market slip.

For the first time since the COVID-19 pandemic consumed global financial markets starting in early March, the S&P/TSX Composite Index meaningfully diverged from U.S. equity benchmarks, with a gain of 2.6 per cent on Tuesday. The S&P 500 index dropped by 1.6 per cent.

Canada’s biggest oil sands players led the advance, adding to a rebound that started on Monday. Over just two trading days, Canadian Natural Resources Ltd. shares have surged by 45 per cent, and Suncor Energy Inc. by 37 per cent.

Potential catalysts for the sudden reversal include expanded federal wage subsidies that would apply to energy sector employees, as well as Tuesday’s announcement that the long-delayed Keystone XL pipeline would go ahead with support from the province of Alberta.

For energy companies facing a liquidity crunch, there is hope that lenders will be flexible. “We’re seeing the banks be somewhat understanding,” Mr. Stelmach said. In some cases, lenders are offering extensions and renewals rather than calling in loans.

Loan guarantees are also expected to be included in a multibillion-dollar aid package for the oil patch, which Finance Minister Bill Morneau said last week was coming soon. These incremental developments are insufficient to explain the magnitude of the move in Canadian energy stocks so far this week, with the S&P/TSX Capped Energy Index rising by 30 per cent.

There was some talk in trading circles that a big U.S. investor has accumulated shares of Suncor and Canadian Natural Resources over the last couple of days.

Wall Street’s three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.

In one of the fastest turns into a bear market, the S&P 500 and the Dow both ended the first quarter more than 20% below the end of 2019, as the health crisis worsened in the United States and brought business activity to a standstill.

It was also the S&P’s biggest first-quarter decline on record as consumers were advised to stay at home, leading businesses to announce temporary closures and massive staff furloughs.

The Dow Jones Industrial Average fell 410.32 points, or 1.84%, to 21,917.16, the S&P 500 lost 42.06 points, or 1.60%, to 2,584.59 and the Nasdaq Composite dropped 74.05 points, or 0.95%, to 7,700.10.

Nevertheless:

Amid draconian efforts to contain the spread of the novel coronavirus, the avalanche of pink slips stemming from the COVID-19 pandemic has only begun. Some economists predict job losses will be nearly three times greater than they were during the Great Recession of 2008-09, and Canada’s unemployment rate could reach 9 per cent by summer.

The jarring disruptions caused by COVID-19 threaten to send many Canadian households into financial tailspins. In that scenario, a crisis many policymakers hoped would cause just a sharp but brief economic interruption could morph into a more painful, long-lasting collapse in aggregate demand, reverberating long after pandemic control measures have ended.

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And quantitative easing is on the way:

The Bank of Canada is likely to buy about $200 billion of government debt after announcing its first quantitative easing program, which would nearly triple the amount of assets on the central bank’s balance sheet, bond strategists estimate.

Just a few weeks ago, Canada’s central bank was defying the global trend of monetary policy easing. But in a series of emergency interest rate cuts this month it has slashed its key interest rate to 0.25 per cent, the level it regards as the floor.

Quantitative easing, or large-scale buying of assets, is now the policy measure favored by the BoC to ease the economic impact of the coronavirus pandemic.

The bank plans to buy at least $5 billion a week of Government of Canada securities, starting on April 1, with the purchases continuing “until the economic recovery is well underway.”

Regrettably, easing is targetted on liquidity. It does not directly address solvency.

But there’s at least one group with no worries:

A tentative deal between Ontario’s public elementary school teachers and the government comes with an annual wage increase of just 1 per cent but allows boards to hire 434 more educators across the province to support students with special learning needs.

The Elementary Teachers’ Federation of Ontario (ETFO) shared details Monday evening of its recently negotiated deal, which includes a 4-per-cent bump in benefits in each year of the three-year offer – higher than the government originally wanted.

Now, if that’s not the classic contract in the education monopoly, I don’t know what is. A nice tough headline number for the politicians to brag about; a boatload of money slipped in through the back-door for the union to snicker about.

TXPR closed at 468.69, up 2.17% on the day. Volume today was 2.40-million, second-lowest of the past thirty days, ahead of only March 5.

CPD closed at 9.37, up 2.18% on the day. Volume was 161,128, below the average of the past 30 trading days.

ZPR closed at 7.29, up 1.96% on the day. Volume of 674,913 was low in the context of the past 30 trading days.

Five-year Canada yields were down 4bp at 0.59% today.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 3.4739 % 1,375.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 3.4739 % 2,524.3
Floater 5.59 % 5.65 % 50,804 14.42 4 3.4739 % 1,454.8
OpRet 0.00 % 0.00 % 0 0.00 0 1.6423 % 3,141.8
SplitShare 5.28 % 7.30 % 79,171 3.96 7 1.6423 % 3,752.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 1.6423 % 2,927.5
Perpetual-Premium 6.67 % 6.87 % 105,336 12.68 12 2.6629 % 2,568.1
Perpetual-Discount 6.37 % 6.58 % 88,016 13.15 24 2.6737 % 2,754.6
FixedReset Disc 7.62 % 6.32 % 215,083 13.00 64 3.8063 % 1,576.6
Deemed-Retractible 6.14 % 6.69 % 103,246 12.98 27 3.0158 % 2,752.5
FloatingReset 5.16 % 5.10 % 60,812 15.25 3 6.0236 % 1,687.2
FixedReset Prem 6.23 % 6.18 % 208,665 13.56 22 2.8830 % 2,180.4
FixedReset Bank Non 2.01 % 5.09 % 130,409 1.78 3 -0.9671 % 2,638.9
FixedReset Ins Non 7.57 % 6.48 % 110,196 12.69 22 5.3041 % 1,555.2
Performance Highlights
Issue Index Change Notes
EMA.PR.F FixedReset Disc -11.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 7.67 %
BMO.PR.Q FixedReset Bank Non -3.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 9.15 %
HSE.PR.G FixedReset Disc -2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 9.00
Evaluated at bid price : 9.00
Bid-YTW : 11.52 %
TD.PF.D FixedReset Disc -2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.41
Evaluated at bid price : 12.41
Bid-YTW : 6.93 %
TRP.PR.D FixedReset Disc -1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 6.66 %
BAM.PF.C Perpetual-Discount 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.79 %
PWF.PR.A Floater 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 7.95
Evaluated at bid price : 7.95
Bid-YTW : 5.47 %
RY.PR.A Deemed-Retractible 1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.79
Bid-YTW : 7.63 %
RY.PR.F Deemed-Retractible 1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.85
Bid-YTW : 7.48 %
PVS.PR.F SplitShare 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 22.75
Bid-YTW : 7.30 %
BAM.PF.I FixedReset Prem 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.04 %
CM.PR.T FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 6.27 %
RY.PR.G Deemed-Retractible 1.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.64
Bid-YTW : 8.06 %
TRP.PR.K FixedReset Prem 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 6.18 %
BAM.PR.N Perpetual-Discount 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.76 %
CCS.PR.C Deemed-Retractible 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.63 %
EMA.PR.C FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.84
Evaluated at bid price : 13.84
Bid-YTW : 6.53 %
BAM.PF.J FixedReset Prem 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.39
Evaluated at bid price : 19.39
Bid-YTW : 6.17 %
RY.PR.P Perpetual-Premium 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 22.49
Evaluated at bid price : 22.82
Bid-YTW : 5.82 %
RY.PR.W Perpetual-Discount 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.92 %
RY.PR.Q FixedReset Prem 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.43
Evaluated at bid price : 21.75
Bid-YTW : 5.96 %
BAM.PF.D Perpetual-Discount 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.28
Evaluated at bid price : 18.28
Bid-YTW : 6.76 %
GWO.PR.N FixedReset Ins Non 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 8.93
Evaluated at bid price : 8.93
Bid-YTW : 5.30 %
GWO.PR.M Deemed-Retractible 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.85 %
SLF.PR.C Deemed-Retractible 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.07
Evaluated at bid price : 17.07
Bid-YTW : 6.57 %
ELF.PR.H Perpetual-Premium 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.98 %
BMO.PR.E FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.27
Evaluated at bid price : 15.27
Bid-YTW : 6.00 %
PWF.PR.G Perpetual-Premium 1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.78
Evaluated at bid price : 22.02
Bid-YTW : 6.83 %
EIT.PR.B SplitShare 1.95 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.50
Bid-YTW : 7.34 %
RY.PR.O Perpetual-Discount 1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 5.95 %
PWF.PR.S Perpetual-Discount 1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.81 %
PVS.PR.H SplitShare 2.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.95
Bid-YTW : 6.27 %
EIT.PR.A SplitShare 2.09 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 7.27 %
TRP.PR.C FixedReset Disc 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 8.50
Evaluated at bid price : 8.50
Bid-YTW : 6.23 %
CU.PR.I FixedReset Prem 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 5.44 %
BAM.PF.H FixedReset Prem 2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.05 %
PWF.PR.I Perpetual-Premium 2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 22.33
Evaluated at bid price : 22.60
Bid-YTW : 6.77 %
PWF.PR.R Perpetual-Premium 2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.95 %
PWF.PR.F Perpetual-Discount 2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 6.95 %
IAF.PR.B Deemed-Retractible 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.59 %
IFC.PR.G FixedReset Ins Non 2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.56
Evaluated at bid price : 13.56
Bid-YTW : 6.48 %
BIP.PR.F FixedReset Disc 2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 7.39 %
PWF.PR.Z Perpetual-Discount 2.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.90 %
CU.PR.H Perpetual-Discount 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 6.46 %
BAM.PF.F FixedReset Disc 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 6.48 %
TRP.PR.J FixedReset Prem 2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.74
Evaluated at bid price : 22.20
Bid-YTW : 6.26 %
EMA.PR.E Perpetual-Discount 2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 6.19 %
IFC.PR.F Deemed-Retractible 2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.24 %
TD.PF.I FixedReset Disc 2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.25
Evaluated at bid price : 15.25
Bid-YTW : 6.25 %
SLF.PR.E Deemed-Retractible 2.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.46
Evaluated at bid price : 17.46
Bid-YTW : 6.49 %
CU.PR.D Perpetual-Discount 2.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 6.30 %
IFC.PR.E Deemed-Retractible 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.59
Evaluated at bid price : 20.59
Bid-YTW : 6.36 %
BIP.PR.D FixedReset Disc 2.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 6.85 %
PWF.PR.O Perpetual-Premium 2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.28
Evaluated at bid price : 21.28
Bid-YTW : 6.96 %
BMO.PR.F FixedReset Disc 2.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.17 %
TD.PF.H FixedReset Prem 2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.32 %
BMO.PR.C FixedReset Disc 2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 6.40 %
CU.PR.F Perpetual-Discount 2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.18 %
PWF.PR.K Perpetual-Discount 2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.43
Evaluated at bid price : 18.43
Bid-YTW : 6.86 %
MFC.PR.O FixedReset Ins Non 2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 6.85 %
TD.PF.L FixedReset Disc 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.18 %
BNS.PR.I FixedReset Disc 3.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.72
Evaluated at bid price : 15.72
Bid-YTW : 5.56 %
SLF.PR.J FloatingReset 3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 8.25
Evaluated at bid price : 8.25
Bid-YTW : 4.92 %
SLF.PR.A Deemed-Retractible 3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.47 %
RY.PR.S FixedReset Disc 3.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 5.41 %
BAM.PR.K Floater 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 7.54
Evaluated at bid price : 7.54
Bid-YTW : 5.71 %
BMO.PR.D FixedReset Disc 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 6.29 %
BNS.PR.E FixedReset Prem 3.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.06 %
TD.PF.F Perpetual-Discount 3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.87 %
POW.PR.C Perpetual-Premium 3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.91 %
BAM.PF.G FixedReset Disc 3.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.16
Evaluated at bid price : 13.16
Bid-YTW : 6.53 %
TD.PF.G FixedReset Prem 3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.43
Evaluated at bid price : 21.75
Bid-YTW : 6.13 %
PVS.PR.G SplitShare 3.60 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.66 %
W.PR.K FixedReset Prem 3.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.47 %
PWF.PR.L Perpetual-Discount 3.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.96
Evaluated at bid price : 18.96
Bid-YTW : 6.87 %
BMO.PR.Z Perpetual-Discount 3.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.52
Evaluated at bid price : 21.52
Bid-YTW : 5.89 %
BMO.PR.W FixedReset Disc 3.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.16 %
TD.PF.J FixedReset Disc 3.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.11
Evaluated at bid price : 15.11
Bid-YTW : 5.99 %
TRP.PR.A FixedReset Disc 3.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 11.26
Evaluated at bid price : 11.26
Bid-YTW : 6.21 %
GWO.PR.L Deemed-Retractible 3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.76
Evaluated at bid price : 20.76
Bid-YTW : 6.86 %
BAM.PR.X FixedReset Disc 3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 9.83
Evaluated at bid price : 9.83
Bid-YTW : 6.20 %
SLF.PR.B Deemed-Retractible 3.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.36 %
IFC.PR.C FixedReset Ins Non 3.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.40 %
BAM.PR.B Floater 3.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 7.58
Evaluated at bid price : 7.58
Bid-YTW : 5.68 %
TRP.PR.G FixedReset Disc 3.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 6.67 %
BIP.PR.E FixedReset Disc 3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 7.25 %
MFC.PR.Q FixedReset Ins Non 3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.65
Evaluated at bid price : 13.65
Bid-YTW : 6.36 %
POW.PR.G Perpetual-Premium 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.26
Evaluated at bid price : 20.26
Bid-YTW : 6.95 %
SLF.PR.D Deemed-Retractible 3.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.41 %
TRP.PR.B FixedReset Disc 3.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 7.95
Evaluated at bid price : 7.95
Bid-YTW : 5.86 %
CIU.PR.A Perpetual-Discount 3.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.61 %
POW.PR.A Perpetual-Premium 3.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.87 %
GWO.PR.I Deemed-Retractible 4.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 16.85
Evaluated at bid price : 16.85
Bid-YTW : 6.73 %
GWO.PR.G Deemed-Retractible 4.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.72 %
BMO.PR.B FixedReset Prem 4.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.15 %
SLF.PR.G FixedReset Ins Non 4.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 8.43
Evaluated at bid price : 8.43
Bid-YTW : 5.92 %
PWF.PR.E Perpetual-Premium 4.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 6.83 %
RY.PR.J FixedReset Disc 4.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 14.40
Evaluated at bid price : 14.40
Bid-YTW : 5.83 %
RY.PR.N Perpetual-Discount 4.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 5.82 %
BMO.PR.T FixedReset Disc 4.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 6.15 %
W.PR.M FixedReset Prem 4.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.31 %
GWO.PR.H Deemed-Retractible 4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.59
Evaluated at bid price : 18.59
Bid-YTW : 6.57 %
MFC.PR.C Deemed-Retractible 4.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.31
Evaluated at bid price : 17.31
Bid-YTW : 6.57 %
GWO.PR.F Deemed-Retractible 4.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 22.07
Evaluated at bid price : 22.30
Bid-YTW : 6.66 %
CM.PR.Q FixedReset Disc 4.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.29
Evaluated at bid price : 12.29
Bid-YTW : 6.86 %
BAM.PR.T FixedReset Disc 4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 11.48
Evaluated at bid price : 11.48
Bid-YTW : 6.49 %
RY.PR.R FixedReset Prem 4.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 22.93
Evaluated at bid price : 23.38
Bid-YTW : 5.81 %
MFC.PR.B Deemed-Retractible 4.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.35 %
PWF.PR.T FixedReset Disc 4.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.53
Evaluated at bid price : 12.53
Bid-YTW : 6.65 %
PWF.PR.H Perpetual-Premium 4.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.94 %
NA.PR.S FixedReset Disc 4.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 6.68 %
POW.PR.D Perpetual-Discount 4.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.09
Evaluated at bid price : 19.09
Bid-YTW : 6.58 %
GWO.PR.R Deemed-Retractible 4.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.34
Evaluated at bid price : 18.34
Bid-YTW : 6.60 %
CM.PR.R FixedReset Disc 4.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 6.83 %
CM.PR.Y FixedReset Disc 4.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.67
Evaluated at bid price : 17.67
Bid-YTW : 6.32 %
TD.PF.K FixedReset Disc 4.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.07
Evaluated at bid price : 15.07
Bid-YTW : 5.95 %
GWO.PR.Q Deemed-Retractible 4.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.69 %
GWO.PR.S Deemed-Retractible 4.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.82 %
MFC.PR.K FixedReset Ins Non 4.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.41
Evaluated at bid price : 12.41
Bid-YTW : 6.40 %
SLF.PR.I FixedReset Ins Non 4.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 6.25 %
CM.PR.S FixedReset Disc 4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.20
Evaluated at bid price : 13.20
Bid-YTW : 6.25 %
BAM.PR.R FixedReset Disc 4.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 11.37
Evaluated at bid price : 11.37
Bid-YTW : 6.38 %
BAM.PF.B FixedReset Disc 4.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 6.46 %
CM.PR.O FixedReset Disc 4.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.11
Evaluated at bid price : 12.11
Bid-YTW : 6.45 %
HSE.PR.C FixedReset Disc 4.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 9.70
Evaluated at bid price : 9.70
Bid-YTW : 10.67 %
GWO.PR.P Deemed-Retractible 4.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 6.79 %
MFC.PR.H FixedReset Ins Non 4.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 6.97 %
NA.PR.E FixedReset Disc 4.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 6.40 %
POW.PR.B Perpetual-Discount 5.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.77 %
TD.PF.M FixedReset Disc 5.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.28
Evaluated at bid price : 18.28
Bid-YTW : 6.13 %
IAF.PR.I FixedReset Ins Non 5.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.40
Evaluated at bid price : 13.40
Bid-YTW : 6.79 %
NA.PR.C FixedReset Disc 5.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 6.74 %
GWO.PR.T Deemed-Retractible 5.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 6.73 %
MFC.PR.I FixedReset Ins Non 5.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 6.70 %
CM.PR.P FixedReset Disc 5.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 6.35 %
RY.PR.H FixedReset Disc 5.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.60
Evaluated at bid price : 13.60
Bid-YTW : 5.67 %
MFC.PR.L FixedReset Ins Non 5.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 6.44 %
BMO.PR.S FixedReset Disc 5.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.85
Evaluated at bid price : 12.85
Bid-YTW : 6.21 %
MFC.PR.J FixedReset Ins Non 5.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 6.60 %
NA.PR.A FixedReset Prem 5.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 6.38 %
BIK.PR.A FixedReset Prem 5.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.86
Evaluated at bid price : 22.24
Bid-YTW : 6.61 %
TD.PF.A FixedReset Disc 5.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.18
Evaluated at bid price : 13.18
Bid-YTW : 5.89 %
TD.PF.C FixedReset Disc 5.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.31
Evaluated at bid price : 13.31
Bid-YTW : 6.03 %
MFC.PR.N FixedReset Ins Non 5.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.13
Evaluated at bid price : 12.13
Bid-YTW : 5.97 %
BIP.PR.A FixedReset Disc 5.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 8.02 %
CU.PR.E Perpetual-Discount 5.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.25 %
NA.PR.G FixedReset Disc 5.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 6.53 %
CU.PR.C FixedReset Disc 5.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 14.25
Evaluated at bid price : 14.25
Bid-YTW : 5.37 %
BAM.PR.C Floater 5.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 7.61
Evaluated at bid price : 7.61
Bid-YTW : 5.65 %
TRP.PR.F FloatingReset 6.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 9.68
Evaluated at bid price : 9.68
Bid-YTW : 5.52 %
MFC.PR.R FixedReset Ins Non 6.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 6.81 %
MFC.PR.G FixedReset Ins Non 6.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 6.81 %
TD.PF.B FixedReset Disc 6.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 5.87 %
RY.PR.Z FixedReset Disc 6.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.40
Evaluated at bid price : 13.40
Bid-YTW : 5.69 %
NA.PR.X FixedReset Prem 6.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.47
Evaluated at bid price : 21.81
Bid-YTW : 6.37 %
MFC.PR.F FixedReset Ins Non 6.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 8.40
Evaluated at bid price : 8.40
Bid-YTW : 5.99 %
EML.PR.A FixedReset Ins Non 6.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 7.07 %
RY.PR.M FixedReset Disc 6.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.99
Evaluated at bid price : 13.99
Bid-YTW : 5.81 %
IFC.PR.A FixedReset Ins Non 6.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 6.31 %
NA.PR.W FixedReset Disc 6.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.62
Evaluated at bid price : 12.62
Bid-YTW : 6.31 %
IAF.PR.G FixedReset Ins Non 7.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.70
Evaluated at bid price : 12.70
Bid-YTW : 6.89 %
TD.PF.E FixedReset Disc 7.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 6.28 %
HSE.PR.A FixedReset Disc 7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 5.61
Evaluated at bid price : 5.61
Bid-YTW : 10.42 %
BNS.PR.H FixedReset Prem 8.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 6.24 %
PWF.PR.Q FloatingReset 8.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 9.00
Evaluated at bid price : 9.00
Bid-YTW : 5.10 %
BMO.PR.Y FixedReset Disc 9.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.45
Evaluated at bid price : 13.45
Bid-YTW : 6.21 %
MFC.PR.M FixedReset Ins Non 9.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.63
Evaluated at bid price : 12.63
Bid-YTW : 6.36 %
PWF.PR.P FixedReset Disc 10.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 9.43
Evaluated at bid price : 9.43
Bid-YTW : 5.88 %
SLF.PR.H FixedReset Ins Non 10.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 11.14
Evaluated at bid price : 11.14
Bid-YTW : 6.22 %
BAM.PF.A FixedReset Disc 18.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.10
Evaluated at bid price : 15.10
Bid-YTW : 6.37 %
Volume Highlights
Issue Index Shares
Traded
Notes
PWF.PR.E Perpetual-Premium 117,745 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 6.83 %
BMO.PR.F FixedReset Disc 70,279 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.17 %
RY.PR.S FixedReset Disc 55,343 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 5.41 %
RY.PR.Z FixedReset Disc 54,209 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.40
Evaluated at bid price : 13.40
Bid-YTW : 5.69 %
TD.PF.B FixedReset Disc 52,330 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 5.87 %
TD.PF.M FixedReset Disc 40,191 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 18.28
Evaluated at bid price : 18.28
Bid-YTW : 6.13 %
There were 57 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.K FixedReset Ins Non Quote: 12.41 – 18.10
Spot Rate : 5.6900
Average : 4.6726

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.41
Evaluated at bid price : 12.41
Bid-YTW : 6.40 %

MFC.PR.R FixedReset Ins Non Quote: 16.55 – 18.86
Spot Rate : 2.3100
Average : 1.3783

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 6.81 %

EMA.PR.F FixedReset Disc Quote: 11.75 – 14.40
Spot Rate : 2.6500
Average : 1.8561

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 7.67 %

MFC.PR.G FixedReset Ins Non Quote: 13.05 – 19.17
Spot Rate : 6.1200
Average : 5.3345

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 6.81 %

TD.PF.D FixedReset Disc Quote: 12.41 – 14.58
Spot Rate : 2.1700
Average : 1.5280

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 12.41
Evaluated at bid price : 12.41
Bid-YTW : 6.93 %

BNS.PR.G FixedReset Prem Quote: 21.65 – 23.24
Spot Rate : 1.5900
Average : 1.0552

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-31
Maturity Price : 21.35
Evaluated at bid price : 21.65
Bid-YTW : 6.24 %

HSE On Review-Negative at DBRS

March 31st, 2020

DBRS has announced (on March 26) that it:

has placed all its North American oil and gas (O&G) issuers and oil field service (OFS) issuers Under Review with Negative Implications. The portfolio review was undertaken in response to the recent extreme price declines and heightened volatility in crude oil and petroleum product markets largely caused by the rapid global spread of the Coronavirus Disease (COVID-19) and the concurrent crude oil price war between OPEC (led by Saudi Arabia) and Russia. Because of the very high level of volatility and uncertain length of time for which weak crude oil and petroleum product markets will persist, the following DBRS Morningstar-publicly-rated North American issuers (11in this press release) have been put Under Review with Negative Implications:

— Chevron Corporation*
— Imperial Oil Limited**
— ConocoPhillips*
— Suncor Energy Inc.**
— Husky Energy Inc**
— Canadian Natural Resources Limited**
— Cenovus Energy Inc.**
— Ovintiv Inc.**
— CES Energy Solutions Corp.**
— Crew Energy Inc.**
— Source Energy Services Canada LP and Source Energy Services Canada Holdings Ltd.**

The Under Review with Negative Implications status accounts for DBRS Morningstar’s view that because of (1) the extreme decline in the price of crude oil and petroleum product prices; (2) the significant rise in market volatility; and (3) the considerable uncertainty regarding the demand outlook for crude oil and petroleum products, DBRS Morningstar expects issuers’ credit profiles to experience considerable downward pressure over the weeks and months to come although the full extent of the recent shock to crude oil and petroleum product markets has yet to be established. The Under Review with Negative Implications status generally reflects DBRS Morningstar’s belief that downgrades for at least a significant part of the portfolio is likely. However, as situations and potential rating implications may vary, the final rating determination may change from the initial assessment. The Under Review with Negative Implications status is generally resolved with a rating action within three months. However, if heightened market uncertainty and volatility persists, DBRS Morningstar may extend the Under Review status for a longer period of time.

REFINING MARGINS UNDER PRESSURE—NOT PROVIDING SAME BUFFER AS IN PREVIOUS DOWNTURNS
Crude oil is the feedstock for refiners. Historically, for integrated companies, an oil price decline caused upstream profitability to shrink, but resilient profitability from refining (downstream) operations provided a partial offset or buffer to total integrated company margins. However, in the current situation, demand destruction for petroleum-derived products has been so sudden and severe that the squeeze on refining margins and falling demand is forcing operators to cut refining runs. Simply stated, the diversified model has not provided the same margin protection that integrated companies have historically enjoyed. Despite this, DBRS Morningstar expects that when economic activity rebounds and demand for lower-priced gasoline, jet fuel, and other refined products bounces back, downstream profitability will recover before the upstream business.

Currently, reduced capex programs being implemented or proposed by issuers that DBRS Morningstar has reviewed appear to be below what is needed to sustain their base level of operations. Lastly, the current ability to sell assets and tap equity or debt markets to raise cash is considerably more challenging relative to the 2014–16 market environment.

DBRS MORNINGSTAR ANTICIPATES AN EVENTUAL RECOVERY IN OIL PRICES
DBRS Morningstar believes that the current, very depressed price of crude oil for producers is unsustainable over the long term. Current pricing does not provide an adequate economic return for much of existing production and certainly not for new developments. Inevitably, the lack of investment will cause global oil production volumes to decline. In particular, DBRS Morningstar expects U.S. shale oil volumes to materially drop due to the steep decline rates typically associated with this kind of production. Furthermore, the depressed oil price may eventually inflict enough financial pain on Saudi Arabia, other OPEC members, and Russia to compel them to cooperate. A renewed OPEC plus production cut agreement would help to stabilize the market and accelerate price recovery.

DBRS Morningstar believes the WTI oil price will eventually recover to a midcycle range of USD 50/bbl to USD 60/bbl

CONCLUSION—HIGH PRICE UNCERTAINTY AND VOLATILITY MAKE ASSESSING CREDIT QUALITY DIFFICULT
Due to the drastic declines recently experienced by oil prices and the especially poor, near-term visibility regarding crude oil and petroleum product markets, DBRS Morningstar is placing all ratings for its North American rated O&G and OFS issuers Under Review with Negative Implications. DBRS Morningstar generally resolves the Under Review status within three months, assuming that greater clarity and stability returns to energy markets. With greater confidence about the direction of energy pricing and updated input from issuers regarding their immediate actions and longer-term plans, DBRS Morningstar will be in a better position to assess each issuer’s credit metrics. However, as denoted by the Under Review with Negative Implications designation, DBRS Morningstar notes that issuer credit profiles have weakened considerably and expects a number of negative rating actions.

This action was taken on the same day as S&P’s announcement of a Negative Outlook for HSE and downgrades for four other major Canadian producers.

Affected issues are HSE.PR.A, HSE.PR.B, HSE.PR.C, HSE.PR.E and HSE.PR.G .

March 30, 2020

March 30th, 2020
unicorn_200330

gusher_200330

Oil action is in the news today:

Energy stocks led Canada’s main stock index higher on Monday, despite a plunge in crude prices as the market waits for news of support from Ottawa for the oil and gas industry.

The Toronto Stock Exchange’s S&P/TSX composite index was unofficially up 350.76 points, or 2.76%, at 13,038.50 The index fell as low as 12,548.96 in morning trading.

Nine of the index’s 11 major sectors were higher, paced by the energy sector, which rose 11.9%.

Global oil benchmark Brent crude plunged to its cheapest in almost 18 years on Monday and U.S. crude briefly tumbled below $20 per barrel on growing fears the global coronavirus shutdown could last months and demand for fuel will decline further.

Brent futures fell $2.17, or 8.7%, to settle at $22.76 a barrel, their lowest close since November 2002, while U.S. West Texas Intermediate (WTI) crude fell $1.42, or 6.6%, to $20.09, the lowest close since February 2002.

Economists expect a number of weak reports on the economy to come in through the week. The lowlight will likely be Friday’s jobs report, where economists expect to see the largest fall in the nation’s payrolls since the Great Recession.

But who knows? Maybe Trump will join OPEC with his pals MBS and Putin:

U.S. President Donald Trump and Russian President Vladimir Putin agreed during a phone call on Monday to have their top energy officials meet to discuss slumping global oil markets, the Kremlin said, as Trump called Russia’s price war with Saudi Arabia “crazy.”

The agreement marks a new twist in global oil diplomacy since a failed deal earlier this month between the Organization of the Petroleum Exporting Countries and Russia to cut production ignited the price war between Russia and OPEC’s de facto leader Saudi Arabia.

Shortly before Monday’s phone call, Trump said Saudi Arabia and Russia “both went crazy” in their oil-price war and that “I never thought I’d be saying that maybe we have to have an oil (price) increase, because we do.”

“The price is so low now they’re fighting like crazy over, over distribution and over how many barrels to let go,” Trump said in an interview on Fox News.

It would seem worthwhile to do something about US coronavirus testing costs:

The coronavirus bills passed so far — and those on the table — offer inadequate protection from a system primed to bill patients for all kinds of costs. The Families First Coronavirus Response Act, passed this month, says that the test and its related charges will be covered with no patient charge only to the extent that they are related to administering the test or evaluating whether a patient needs it.

That leaves hospital billers and coders wide berth. Mr. Cencini went to the E.R. to get a test, as he was instructed to do. When he called to protest his $1,622.52 for hospital charges (his insurer’s discounted rate from over $2,500 in the hospital’s billed charges), a patient representative confirmed that the E.R. visit and other services performed would be “eligible for cost-sharing” (in his case, all of it, since he’d not met his deductible).

This weekend he was notified that the physician charge from Emergency Care Services of New York was $1,166. Though “covered” by his insurance, he owes another $321 for that, bringing his out-of-pocket costs to nearly $2,000.

By the way, his test came back negative.

TXPR closed at 458.72, up 2.66% on the day. Volume today was 2.82-million, second-lowest of the past thirty days, ahead of only March 5.

CPD closed at 9.17, up 1.78% on the day. Volume was 140,404, well below the average of the past 30 trading days.

ZPR closed at 7.15, up 2.88% on the day. Volume of 803,406 was low in the context of the past 30 trading days.

Five-year Canada yields were unchanged at 0.63% today.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 2.2766 % 1,329.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 2.2766 % 2,439.5
Floater 5.78 % 5.90 % 50,995 14.05 4 2.2766 % 1,405.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.6805 % 3,091.1
SplitShare 5.37 % 7.79 % 80,184 3.96 7 0.6805 % 3,691.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.6805 % 2,880.2
Perpetual-Premium 6.85 % 7.11 % 107,103 12.44 12 3.0981 % 2,501.5
Perpetual-Discount 6.54 % 6.85 % 89,275 12.77 24 1.2080 % 2,682.9
FixedReset Disc 7.96 % 6.59 % 212,257 12.72 64 2.9732 % 1,518.8
Deemed-Retractible 6.33 % 6.96 % 103,546 12.63 27 2.2127 % 2,671.9
FloatingReset 5.47 % 5.56 % 61,644 14.49 3 0.6738 % 1,591.3
FixedReset Prem 6.40 % 6.37 % 208,289 13.27 22 3.2291 % 2,119.3
FixedReset Bank Non 1.99 % 5.32 % 126,550 1.78 3 0.8196 % 2,664.7
FixedReset Ins Non 7.97 % 6.98 % 114,676 12.17 22 2.6912 % 1,476.9
Performance Highlights
Issue Index Change Notes
BAM.PF.A FixedReset Disc -9.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.71
Evaluated at bid price : 12.71
Bid-YTW : 7.66 %
HSE.PR.G FixedReset Disc -5.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 9.25
Evaluated at bid price : 9.25
Bid-YTW : 11.20 %
SLF.PR.H FixedReset Ins Non -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 10.08
Evaluated at bid price : 10.08
Bid-YTW : 6.88 %
IFC.PR.A FixedReset Ins Non -2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 9.28
Evaluated at bid price : 9.28
Bid-YTW : 6.76 %
BAM.PF.G FixedReset Disc -2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.71
Evaluated at bid price : 12.71
Bid-YTW : 6.77 %
CIU.PR.A Perpetual-Discount -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.98
Evaluated at bid price : 16.98
Bid-YTW : 6.87 %
BNS.PR.H FixedReset Prem -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.77 %
TRP.PR.G FixedReset Disc -1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 6.92 %
CU.PR.E Perpetual-Discount -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.78
Evaluated at bid price : 18.78
Bid-YTW : 6.62 %
SLF.PR.J FloatingReset -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 8.00
Evaluated at bid price : 8.00
Bid-YTW : 5.07 %
HSE.PR.C FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 9.25
Evaluated at bid price : 9.25
Bid-YTW : 11.23 %
BIP.PR.E FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 7.53 %
CU.PR.G Perpetual-Discount 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.34 %
GWO.PR.I Deemed-Retractible 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.20
Evaluated at bid price : 16.20
Bid-YTW : 7.00 %
BMO.PR.Z Perpetual-Discount 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.11 %
RY.PR.W Perpetual-Discount 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.00 %
TD.PF.I FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 14.85
Evaluated at bid price : 14.85
Bid-YTW : 6.42 %
PWF.PR.H Perpetual-Premium 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 7.26 %
BMO.PR.C FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 6.59 %
W.PR.K FixedReset Prem 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.72 %
POW.PR.C Perpetual-Premium 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 7.15 %
RY.PR.E Deemed-Retractible 1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 8.39 %
PVS.PR.D SplitShare 1.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 23.51
Bid-YTW : 9.01 %
BAM.PR.B Floater 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 7.30
Evaluated at bid price : 7.30
Bid-YTW : 5.90 %
BAM.PR.K Floater 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 7.30
Evaluated at bid price : 7.30
Bid-YTW : 5.90 %
BAM.PF.D Perpetual-Discount 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.86 %
BAM.PR.C Floater 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 7.18
Evaluated at bid price : 7.18
Bid-YTW : 6.00 %
BIP.PR.D FixedReset Disc 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 7.04 %
MFC.PR.C Deemed-Retractible 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.85 %
GWO.PR.Q Deemed-Retractible 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 7.01 %
POW.PR.G Perpetual-Premium 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 7.22 %
PWF.PR.Z Perpetual-Discount 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 7.07 %
GWO.PR.F Deemed-Retractible 1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.38
Evaluated at bid price : 21.38
Bid-YTW : 6.96 %
TRP.PR.E FixedReset Disc 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 10.45
Evaluated at bid price : 10.45
Bid-YTW : 7.62 %
BMO.PR.S FixedReset Disc 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 6.56 %
GWO.PR.R Deemed-Retractible 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 6.89 %
RY.PR.A Deemed-Retractible 1.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.55
Bid-YTW : 8.21 %
SLF.PR.E Deemed-Retractible 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.67 %
GWO.PR.S Deemed-Retractible 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 7.14 %
SLF.PR.A Deemed-Retractible 1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 6.68 %
BAM.PR.X FixedReset Disc 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 9.47
Evaluated at bid price : 9.47
Bid-YTW : 6.44 %
RY.PR.C Deemed-Retractible 1.85 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.68
Bid-YTW : 8.06 %
BAM.PF.I FixedReset Prem 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.78
Evaluated at bid price : 19.78
Bid-YTW : 6.11 %
TD.PF.F Perpetual-Discount 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 6.08 %
RY.PR.N Perpetual-Discount 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.06 %
PWF.PR.K Perpetual-Discount 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 7.06 %
GWO.PR.T Deemed-Retractible 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 7.07 %
BIP.PR.B FixedReset Prem 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.70 %
BMO.PR.Q FixedReset Bank Non 2.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.70
Bid-YTW : 7.34 %
PWF.PR.P FixedReset Disc 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 8.57
Evaluated at bid price : 8.57
Bid-YTW : 6.48 %
PWF.PR.L Perpetual-Discount 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.29
Evaluated at bid price : 18.29
Bid-YTW : 7.12 %
ELF.PR.H Perpetual-Premium 2.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 7.10 %
GWO.PR.P Deemed-Retractible 2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 7.13 %
IAF.PR.G FixedReset Ins Non 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.85
Evaluated at bid price : 11.85
Bid-YTW : 7.40 %
IFC.PR.C FixedReset Ins Non 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.28
Evaluated at bid price : 12.28
Bid-YTW : 6.65 %
NA.PR.E FixedReset Disc 2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 6.74 %
TRP.PR.K FixedReset Prem 2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.26 %
BIP.PR.A FixedReset Disc 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 8.48 %
BMO.PR.W FixedReset Disc 2.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.29
Evaluated at bid price : 12.29
Bid-YTW : 6.40 %
PWF.PR.R Perpetual-Premium 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.11 %
TD.PF.G FixedReset Prem 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.37 %
GWO.PR.N FixedReset Ins Non 2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 8.79
Evaluated at bid price : 8.79
Bid-YTW : 5.38 %
POW.PR.B Perpetual-Discount 2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 7.11 %
PWF.PR.S Perpetual-Discount 2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.94 %
CU.PR.I FixedReset Prem 2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.56 %
TD.PF.J FixedReset Disc 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 14.56
Evaluated at bid price : 14.56
Bid-YTW : 6.23 %
RY.PR.F Deemed-Retractible 2.56 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.60
Bid-YTW : 8.09 %
BAM.PF.J FixedReset Prem 2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.12
Evaluated at bid price : 19.12
Bid-YTW : 6.26 %
PWF.PR.O Perpetual-Premium 2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 7.16 %
PWF.PR.E Perpetual-Premium 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.11 %
NA.PR.W FixedReset Disc 2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 6.77 %
CM.PR.R FixedReset Disc 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 14.11
Evaluated at bid price : 14.11
Bid-YTW : 7.15 %
MFC.PR.Q FixedReset Ins Non 2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.14
Evaluated at bid price : 13.14
Bid-YTW : 6.63 %
TD.PF.L FixedReset Disc 2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 6.37 %
PVS.PR.H SplitShare 2.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.50
Bid-YTW : 6.62 %
GWO.PR.L Deemed-Retractible 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.12 %
NA.PR.C FixedReset Disc 2.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 14.65
Evaluated at bid price : 14.65
Bid-YTW : 7.10 %
BMO.PR.Y FixedReset Disc 2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.34
Evaluated at bid price : 12.34
Bid-YTW : 6.77 %
MFC.PR.O FixedReset Ins Non 2.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 7.06 %
BAM.PR.Z FixedReset Disc 2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 14.40
Evaluated at bid price : 14.40
Bid-YTW : 6.53 %
SLF.PR.B Deemed-Retractible 2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 6.61 %
POW.PR.A Perpetual-Premium 2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 7.14 %
CM.PR.Q FixedReset Disc 2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.78
Evaluated at bid price : 11.78
Bid-YTW : 7.16 %
BAM.PF.H FixedReset Prem 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.19 %
IFC.PR.F Deemed-Retractible 3.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 6.41 %
ELF.PR.G Perpetual-Discount 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 6.92 %
NA.PR.S FixedReset Disc 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.87
Evaluated at bid price : 11.87
Bid-YTW : 7.00 %
CU.PR.C FixedReset Disc 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.45
Evaluated at bid price : 13.45
Bid-YTW : 5.70 %
GWO.PR.H Deemed-Retractible 3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.83
Evaluated at bid price : 17.83
Bid-YTW : 6.86 %
RY.PR.Q FixedReset Prem 3.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.43
Evaluated at bid price : 21.43
Bid-YTW : 6.07 %
TD.PF.A FixedReset Disc 3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 6.23 %
TRP.PR.A FixedReset Disc 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 6.46 %
CM.PR.Y FixedReset Disc 3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 6.62 %
PWF.PR.Q FloatingReset 3.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 8.27
Evaluated at bid price : 8.27
Bid-YTW : 5.56 %
RY.PR.S FixedReset Disc 3.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 15.30
Evaluated at bid price : 15.30
Bid-YTW : 5.60 %
MFC.PR.R FixedReset Ins Non 3.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 15.60
Evaluated at bid price : 15.60
Bid-YTW : 7.23 %
PWF.PR.F Perpetual-Discount 3.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.87
Evaluated at bid price : 18.87
Bid-YTW : 7.11 %
EML.PR.A FixedReset Ins Non 3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.62
Evaluated at bid price : 18.62
Bid-YTW : 7.52 %
BIP.PR.C FixedReset Prem 3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 7.06 %
TD.PF.C FixedReset Disc 3.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.62
Evaluated at bid price : 12.62
Bid-YTW : 6.23 %
PWF.PR.I Perpetual-Premium 3.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.86
Evaluated at bid price : 22.10
Bid-YTW : 6.92 %
RY.PR.Z FixedReset Disc 3.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.61
Evaluated at bid price : 12.61
Bid-YTW : 6.07 %
RY.PR.M FixedReset Disc 3.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 6.18 %
RY.PR.O Perpetual-Discount 3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.06 %
BAM.PF.F FixedReset Disc 3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.65
Evaluated at bid price : 13.65
Bid-YTW : 6.65 %
BMO.PR.F FixedReset Disc 3.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.36
Evaluated at bid price : 17.36
Bid-YTW : 6.35 %
TD.PF.B FixedReset Disc 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.52
Evaluated at bid price : 12.52
Bid-YTW : 6.25 %
TD.PF.H FixedReset Prem 3.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 6.50 %
MFC.PR.K FixedReset Ins Non 3.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.85
Evaluated at bid price : 11.85
Bid-YTW : 6.73 %
GWO.PR.M Deemed-Retractible 3.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.96 %
IAF.PR.I FixedReset Ins Non 4.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 7.16 %
MFC.PR.I FixedReset Ins Non 4.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.84
Evaluated at bid price : 12.84
Bid-YTW : 7.05 %
GWO.PR.G Deemed-Retractible 4.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.99 %
RY.PR.H FixedReset Disc 4.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.92
Evaluated at bid price : 12.92
Bid-YTW : 5.99 %
BMO.PR.B FixedReset Prem 4.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.41 %
BMO.PR.T FixedReset Disc 4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 6.42 %
TRP.PR.J FixedReset Prem 4.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.35
Evaluated at bid price : 21.64
Bid-YTW : 6.43 %
BAM.PF.B FixedReset Disc 4.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.07
Evaluated at bid price : 13.07
Bid-YTW : 6.79 %
RY.PR.J FixedReset Disc 4.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.83
Evaluated at bid price : 13.83
Bid-YTW : 6.07 %
MFC.PR.H FixedReset Ins Non 4.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 7.33 %
CM.PR.P FixedReset Disc 4.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.79
Evaluated at bid price : 11.79
Bid-YTW : 6.70 %
MFC.PR.G FixedReset Ins Non 4.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 7.23 %
RY.PR.P Perpetual-Premium 4.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.90 %
NA.PR.X FixedReset Prem 4.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 6.80 %
TD.PF.K FixedReset Disc 4.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 14.40
Evaluated at bid price : 14.40
Bid-YTW : 6.25 %
PWF.PR.A Floater 4.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 7.87
Evaluated at bid price : 7.87
Bid-YTW : 5.52 %
BNS.PR.G FixedReset Prem 4.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 6.21 %
BMO.PR.D FixedReset Disc 4.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 6.51 %
MFC.PR.J FixedReset Ins Non 5.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.62
Evaluated at bid price : 12.62
Bid-YTW : 6.98 %
BMO.PR.E FixedReset Disc 5.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 6.11 %
NA.PR.G FixedReset Disc 5.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 13.71
Evaluated at bid price : 13.71
Bid-YTW : 6.93 %
SLF.PR.I FixedReset Ins Non 5.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.90
Evaluated at bid price : 12.90
Bid-YTW : 6.55 %
PWF.PR.G Perpetual-Premium 5.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.96 %
CM.PR.T FixedReset Disc 5.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.35 %
BIK.PR.A FixedReset Prem 5.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.99 %
BNS.PR.E FixedReset Prem 5.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.27 %
CCS.PR.C Deemed-Retractible 5.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.72 %
RY.PR.R FixedReset Prem 5.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.87
Evaluated at bid price : 22.40
Bid-YTW : 6.07 %
MFC.PR.N FixedReset Ins Non 5.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 6.30 %
IFC.PR.I Perpetual-Premium 6.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.53 %
CM.PR.O FixedReset Disc 6.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 6.78 %
BNS.PR.I FixedReset Disc 6.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 15.25
Evaluated at bid price : 15.25
Bid-YTW : 5.74 %
MFC.PR.F FixedReset Ins Non 6.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 7.90
Evaluated at bid price : 7.90
Bid-YTW : 6.37 %
CM.PR.S FixedReset Disc 6.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 6.57 %
IFC.PR.E Deemed-Retractible 7.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 6.54 %
NA.PR.A FixedReset Prem 7.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 19.83
Evaluated at bid price : 19.83
Bid-YTW : 6.73 %
BAM.PR.T FixedReset Disc 7.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 6.77 %
TRP.PR.C FixedReset Disc 8.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 8.32
Evaluated at bid price : 8.32
Bid-YTW : 6.37 %
TRP.PR.D FixedReset Disc 26.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 6.52 %
BAM.PR.R FixedReset Disc 34.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 6.69 %
Volume Highlights
Issue Index Shares
Traded
Notes
HSE.PR.A FixedReset Disc 438,875 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 5.20
Evaluated at bid price : 5.20
Bid-YTW : 11.25 %
SLF.PR.A Deemed-Retractible 338,817 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 6.68 %
TD.PF.M FixedReset Disc 67,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 6.45 %
BMO.PR.D FixedReset Disc 45,935 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 6.51 %
BAM.PF.A FixedReset Disc 30,001 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.71
Evaluated at bid price : 12.71
Bid-YTW : 7.66 %
TD.PF.K FixedReset Disc 28,652 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 14.40
Evaluated at bid price : 14.40
Bid-YTW : 6.25 %
There were 35 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.Y FixedReset Disc Quote: 12.34 – 19.75
Spot Rate : 7.4100
Average : 4.3065

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.34
Evaluated at bid price : 12.34
Bid-YTW : 6.77 %

MFC.PR.K FixedReset Ins Non Quote: 11.85 – 18.10
Spot Rate : 6.2500
Average : 3.5571

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 11.85
Evaluated at bid price : 11.85
Bid-YTW : 6.73 %

MFC.PR.G FixedReset Ins Non Quote: 12.30 – 19.17
Spot Rate : 6.8700
Average : 4.4734

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 7.23 %

CIU.PR.A Perpetual-Discount Quote: 16.98 – 20.00
Spot Rate : 3.0200
Average : 1.8592

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 16.98
Evaluated at bid price : 16.98
Bid-YTW : 6.87 %

CU.PR.I FixedReset Prem Quote: 20.50 – 22.95
Spot Rate : 2.4500
Average : 1.4778

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.56 %

BAM.PF.A FixedReset Disc Quote: 12.71 – 15.15
Spot Rate : 2.4400
Average : 1.5150

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-30
Maturity Price : 12.71
Evaluated at bid price : 12.71
Bid-YTW : 7.66 %

March 27, 2020

March 27th, 2020
Priscilla 37-kiloton balloon shot test firing in fiery mushroom cloud rising above desert landscape at NV atomic bomb Test Site.  (Photo by Time Life Pictures/Department Of Energy (DOE)/Time Life Pictures/Getty Images)

coronavirus_200327

mushroomcloud_200327_2

So the markets did not have a nice time today:

Canada’s main stock market resumed its slide after a three-day winning run as investors grew more nervous about the spread of the coronavirus pandemic and the Bank of Canada slashed interest rates to nearly zero.

The Toronto Stock Exchange’s S&P/TSX composite index was unofficially down 5.11%, or 683.43 points, at 12,687.74, while shares globally declined in a sign investors were focusing once more on the spread of the virus despite hopes for further stimulus measures to combat its economic impact.

The heavyweight energy and financial sectors led losses, falling 9.4% and 5.2%, respectively. Industrials were down 4.4%, while materials slid 6 per cent.

The Dow Jones Industrial Average fell 915.39 points, or 4.06%, to 21,636.78, the S&P 500 lost 88.6 points, or 3.37%, to 2,541.47 and the Nasdaq Composite dropped 295.16 points, or 3.79%, to 7,502.38.

The pan-European STOXX 600 index lost 3.26%, and MSCI’s gauge of stocks across the globe shed 1.56%. Emerging market stocks lost 0.90%.

U.S. Treasury yields were headed for a weekly decline, though the range of trading was far less volatile than in the previous two sessions.

Benchmark 10-year notes last rose 21/32 in price to yield 0.7424%, from 0.808% late on Thursday. The 30-year bond last rose 1-26/32 in price to yield 1.3291% from 1.395%.

Gold market participants remained concerned about a supply squeeze after a sharp divergence between prices in London and New York. The virus has grounded planes used to transport gold and closed precious metal refineries.

Spot gold dropped 0.8% to $1,615.92 an ounce. The metal was on track to post its largest weekly advance since 2008.

David Chang has some grim thoughts on the restaurant business:

More than anything, David, I do not want to incite panic and hysteria, but I think for restaurants and the service industry, there is going to be a morbidly high business death rate. My fear is the restaurants that survive are going to be the big chains, and we’re going to eradicate the very eclectic mix that makes America and going out to eat so vibrant and great. And there is a lot of feeling that even in good times, if chefs can’t make their numbers, they’re going to lose everything, so imagine what they must be feeling now. When the economy is booming, it’s hard for restaurants to get loans from the bank because there’s no assets to back them. I don’t know if it’s going to be feasible for the government to give out a stimulus loan to a restaurant or restaurant groups the way they were able to do in 2008 to the auto companies. So I’m trying to figure out what the best way is. The government should give a greater bailout package to real estate owners so that there can be relief for restaurant owners. It has to move up the chain.

S&P slashed Cirque de Soleil’s rating:

  • Cirque Du Soleil Group faces significant liquidity pressure from the sudden shutdown of all of its shows in reaction to the coronavirus pandemic.
  • In our view, a default, distressed exchange, or restructuring appears inevitable in the next six months absent a successful refinancing or unanticipated significantly favorable changes in the company’s circumstances.
  • Therefore, S&P Global Ratings is lowering its issuer credit rating on Cirque Du Soleil Group to ‘CCC-‘ from ‘B-‘. The outlook is negative.
  • We are also lowering the rating on the company’s first-lien facility to ‘CCC’ from ‘B’ and on its second-lien term loan to ‘C’ from ‘CCC’.
  • The negative outlook reflects the possibility that Cirque could default, initiate a distressed exchange, or restructure its debt over the next several months absent unanticipated significantly favorable changes in the company’s circumstances.

Russia’s making noises about ending the oil price war:

A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia’s sovereign wealth fund said, adding that countries should also co-operate to cushion the economic fallout from coronavirus.

A pact between the Organization of the Petroleum Exporting Countries and other producers, including Russia (known as OPEC+), to curb oil production to support prices fell apart earlier this month, sending global oil prices into a tailspin.

“Joint actions by countries are needed to restore the [global] economy … They [joint actions] are also possible in OPEC+ deal’s framework,” Mr. Dmitriev, head of the Russian Direct Investment Fund (RDIF), told Reuters in a phone interview.

Mr. Dmitriev and Energy Minister Alexander Novak were Russia’s top negotiators in the production-cut deal with OPEC. The existing deal expires on March 31.

TXPR closed at 446.85, down 3.34% on the day. Volume today was 3.05-million – well below the average of the past three weeks.

CPD closed at 9.01, down 1.96% on the day. Volume was 151,711, below the average of the past 30 trading days.

ZPR closed at 6.95, down 2.80% on the day. Volume of 411,645 was the third-lowest of the past 30 trading days, ahead of only March 4 and March 5.

Five-year Canada yields were down 12bp to 0.63% today.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -7.0237 % 1,299.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -7.0237 % 2,385.2
Floater 8.33 % 8.45 % 53,331 10.94 4 -7.0237 % 1,374.6
OpRet 0.00 % 0.00 % 0 0.00 0 -1.5897 % 3,070.2
SplitShare 5.41 % 7.71 % 78,661 3.97 7 -1.5897 % 3,666.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -1.5897 % 2,860.7
Perpetual-Premium 7.02 % 7.29 % 107,700 12.11 12 -1.8835 % 2,426.4
Perpetual-Discount 6.61 % 6.73 % 89,727 12.88 24 -2.8424 % 2,650.8
FixedReset Disc 8.19 % 6.74 % 215,554 12.40 64 -5.3315 % 1,474.9
Deemed-Retractible 6.47 % 7.11 % 105,241 12.45 27 -3.5864 % 2,614.0
FloatingReset 5.51 % 5.75 % 62,377 14.20 3 -6.4169 % 1,580.7
FixedReset Prem 6.61 % 6.63 % 203,216 12.90 22 -0.9345 % 2,053.0
FixedReset Bank Non 2.01 % 5.40 % 127,856 1.79 3 0.1415 % 2,643.0
FixedReset Ins Non 8.19 % 7.03 % 117,953 12.04 22 -4.8273 % 1,438.2
Performance Highlights
Issue Index Change Notes
BAM.PR.R FixedReset Disc -29.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 8.05
Evaluated at bid price : 8.05
Bid-YTW : 9.07 %
TRP.PR.D FixedReset Disc -24.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 8.41 %
TRP.PR.E FixedReset Disc -17.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.51
Evaluated at bid price : 10.51
Bid-YTW : 7.79 %
HSE.PR.A FixedReset Disc -14.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 5.25
Evaluated at bid price : 5.25
Bid-YTW : 11.17 %
TRP.PR.C FixedReset Disc -13.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.80
Evaluated at bid price : 7.80
Bid-YTW : 6.97 %
IAF.PR.G FixedReset Ins Non -11.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.58
Evaluated at bid price : 11.58
Bid-YTW : 7.58 %
PWF.PR.A Floater -11.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.51
Evaluated at bid price : 7.51
Bid-YTW : 8.20 %
TRP.PR.B FixedReset Disc -10.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.70
Evaluated at bid price : 7.70
Bid-YTW : 6.08 %
BAM.PR.T FixedReset Disc -10.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.20
Evaluated at bid price : 10.20
Bid-YTW : 7.34 %
BIP.PR.E FixedReset Disc -9.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.57
Evaluated at bid price : 16.57
Bid-YTW : 7.61 %
BIP.PR.A FixedReset Disc -9.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 8.70 %
IFC.PR.A FixedReset Ins Non -9.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 9.53
Evaluated at bid price : 9.53
Bid-YTW : 6.59 %
HSE.PR.C FixedReset Disc -8.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 9.35
Evaluated at bid price : 9.35
Bid-YTW : 11.11 %
TRP.PR.F FloatingReset -8.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 9.13
Evaluated at bid price : 9.13
Bid-YTW : 5.85 %
TRP.PR.A FixedReset Disc -8.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 6.70 %
IAF.PR.I FixedReset Ins Non -7.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 7.48 %
SLF.PR.A Deemed-Retractible -7.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.80 %
TD.PF.E FixedReset Disc -7.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.95
Evaluated at bid price : 12.95
Bid-YTW : 6.82 %
SLF.PR.B Deemed-Retractible -7.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.79
Evaluated at bid price : 17.79
Bid-YTW : 6.80 %
BAM.PR.X FixedReset Disc -7.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 9.30
Evaluated at bid price : 9.30
Bid-YTW : 6.58 %
PWF.PR.Q FloatingReset -6.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 8.00
Evaluated at bid price : 8.00
Bid-YTW : 5.75 %
IFC.PR.G FixedReset Ins Non -6.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 6.65 %
SLF.PR.C Deemed-Retractible -6.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 6.73 %
HSE.PR.E FixedReset Disc -6.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 9.99 %
CM.PR.T FixedReset Disc -6.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 15.74
Evaluated at bid price : 15.74
Bid-YTW : 6.72 %
BAM.PR.B Floater -6.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.20
Evaluated at bid price : 7.20
Bid-YTW : 8.45 %
MFC.PR.N FixedReset Ins Non -6.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 6.70 %
SLF.PR.E Deemed-Retractible -6.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 6.79 %
CM.PR.O FixedReset Disc -6.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.86
Evaluated at bid price : 10.86
Bid-YTW : 7.24 %
GWO.PR.I Deemed-Retractible -6.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.02
Evaluated at bid price : 16.02
Bid-YTW : 7.08 %
BIP.PR.D FixedReset Disc -6.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.64
Evaluated at bid price : 17.64
Bid-YTW : 7.14 %
GWO.PR.N FixedReset Ins Non -6.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 8.58
Evaluated at bid price : 8.58
Bid-YTW : 5.54 %
PWF.PR.F Perpetual-Discount -6.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.35 %
RY.PR.M FixedReset Disc -6.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.67
Evaluated at bid price : 12.67
Bid-YTW : 6.44 %
SLF.PR.D Deemed-Retractible -6.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.71
Evaluated at bid price : 16.71
Bid-YTW : 6.71 %
GWO.PR.H Deemed-Retractible -6.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.27
Evaluated at bid price : 17.27
Bid-YTW : 7.07 %
BAM.PF.B FixedReset Disc -6.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.53
Evaluated at bid price : 12.53
Bid-YTW : 7.11 %
MFC.PR.R FixedReset Ins Non -5.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 15.09
Evaluated at bid price : 15.09
Bid-YTW : 7.49 %
MFC.PR.H FixedReset Ins Non -5.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.67 %
PWF.PR.L Perpetual-Discount -5.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 7.28 %
EIT.PR.A SplitShare -5.71 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.63
Bid-YTW : 7.71 %
GWO.PR.P Deemed-Retractible -5.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.67
Evaluated at bid price : 18.67
Bid-YTW : 7.29 %
BMO.PR.C FixedReset Disc -5.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 15.16
Evaluated at bid price : 15.16
Bid-YTW : 6.69 %
MFC.PR.C Deemed-Retractible -5.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 6.95 %
TD.PF.D FixedReset Disc -5.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.75 %
BAM.PR.C Floater -5.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.08
Evaluated at bid price : 7.08
Bid-YTW : 8.59 %
CM.PR.S FixedReset Disc -5.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.05 %
MFC.PR.J FixedReset Ins Non -5.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 7.38 %
ELF.PR.H Perpetual-Premium -5.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.36
Evaluated at bid price : 19.36
Bid-YTW : 7.28 %
BMO.PR.Y FixedReset Disc -5.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 6.98 %
CM.PR.R FixedReset Disc -5.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 7.35 %
EMA.PR.E Perpetual-Discount -5.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.99
Evaluated at bid price : 17.99
Bid-YTW : 6.34 %
RY.PR.J FixedReset Disc -5.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 6.36 %
BAM.PF.J FixedReset Prem -5.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.64
Evaluated at bid price : 18.64
Bid-YTW : 6.42 %
EML.PR.A FixedReset Ins Non -5.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.79 %
MFC.PR.B Deemed-Retractible -5.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 6.61 %
BAM.PF.G FixedReset Disc -5.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 6.63 %
CU.PR.C FixedReset Disc -5.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.03
Evaluated at bid price : 13.03
Bid-YTW : 5.90 %
BNS.PR.I FixedReset Disc -4.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.31
Evaluated at bid price : 14.31
Bid-YTW : 6.16 %
NA.PR.G FixedReset Disc -4.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.02
Evaluated at bid price : 13.02
Bid-YTW : 7.34 %
TD.PF.L FixedReset Disc -4.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.36
Evaluated at bid price : 16.36
Bid-YTW : 6.56 %
BAM.PF.D Perpetual-Discount -4.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.76
Evaluated at bid price : 17.76
Bid-YTW : 6.95 %
GWO.PR.G Deemed-Retractible -4.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.28 %
PWF.PR.S Perpetual-Discount -4.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 7.12 %
BAM.PR.M Perpetual-Discount -4.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.38
Evaluated at bid price : 17.38
Bid-YTW : 6.88 %
TD.PF.J FixedReset Disc -4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.20
Evaluated at bid price : 14.20
Bid-YTW : 6.41 %
CM.PR.Q FixedReset Disc -4.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.45
Evaluated at bid price : 11.45
Bid-YTW : 7.38 %
MFC.PR.I FixedReset Ins Non -4.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.33
Evaluated at bid price : 12.33
Bid-YTW : 7.37 %
MFC.PR.F FixedReset Ins Non -4.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.40
Evaluated at bid price : 7.40
Bid-YTW : 6.84 %
BAM.PF.A FixedReset Disc -4.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.05
Evaluated at bid price : 14.05
Bid-YTW : 6.89 %
PWF.PR.K Perpetual-Discount -4.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.20 %
MFC.PR.G FixedReset Ins Non -4.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.76
Evaluated at bid price : 11.76
Bid-YTW : 7.58 %
SLF.PR.G FixedReset Ins Non -4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 8.11
Evaluated at bid price : 8.11
Bid-YTW : 6.18 %
NA.PR.C FixedReset Disc -4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.25
Evaluated at bid price : 14.25
Bid-YTW : 7.31 %
GWO.PR.R Deemed-Retractible -4.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 7.01 %
PWF.PR.R Perpetual-Premium -4.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.28
Evaluated at bid price : 19.28
Bid-YTW : 7.29 %
TD.PF.H FixedReset Prem -4.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.76
Evaluated at bid price : 17.76
Bid-YTW : 6.77 %
CCS.PR.C Deemed-Retractible -4.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.72
Evaluated at bid price : 17.72
Bid-YTW : 7.11 %
MFC.PR.M FixedReset Ins Non -4.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.60
Evaluated at bid price : 11.60
Bid-YTW : 6.97 %
PWF.PR.Z Perpetual-Discount -4.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.19 %
CM.PR.Y FixedReset Disc -4.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 6.85 %
BMO.PR.T FixedReset Disc -4.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.51
Evaluated at bid price : 11.51
Bid-YTW : 6.72 %
IFC.PR.C FixedReset Ins Non -4.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 6.82 %
BMO.PR.E FixedReset Disc -4.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 6.46 %
BAM.PF.C Perpetual-Discount -4.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.66
Evaluated at bid price : 17.66
Bid-YTW : 6.92 %
PWF.PR.E Perpetual-Premium -3.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.30 %
RY.PR.Z FixedReset Disc -3.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.15
Evaluated at bid price : 12.15
Bid-YTW : 6.32 %
GWO.PR.Q Deemed-Retractible -3.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.11 %
BAM.PR.K Floater -3.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.20
Evaluated at bid price : 7.20
Bid-YTW : 8.45 %
RY.PR.O Perpetual-Discount -3.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.29 %
TD.PF.B FixedReset Disc -3.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.05
Evaluated at bid price : 12.05
Bid-YTW : 6.52 %
BAM.PR.N Perpetual-Discount -3.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 6.86 %
SLF.PR.J FloatingReset -3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 8.10
Evaluated at bid price : 8.10
Bid-YTW : 5.01 %
HSE.PR.G FixedReset Disc -3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 9.75
Evaluated at bid price : 9.75
Bid-YTW : 10.64 %
GWO.PR.S Deemed-Retractible -3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.27 %
BMO.PR.F FixedReset Disc -3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 16.71
Evaluated at bid price : 16.71
Bid-YTW : 6.62 %
TRP.PR.G FixedReset Disc -3.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 6.81 %
GWO.PR.T Deemed-Retractible -3.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.21 %
BAM.PF.H FixedReset Prem -3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.37 %
TD.PF.F Perpetual-Discount -3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.19 %
IAF.PR.B Deemed-Retractible -3.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.70 %
BMO.PR.S FixedReset Disc -3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 6.69 %
EMA.PR.F FixedReset Disc -3.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.33
Evaluated at bid price : 13.33
Bid-YTW : 6.71 %
BIP.PR.F FixedReset Disc -2.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 7.52 %
TD.PF.C FixedReset Disc -2.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.18
Evaluated at bid price : 12.18
Bid-YTW : 6.64 %
BIP.PR.C FixedReset Prem -2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.31 %
POW.PR.G Perpetual-Premium -2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.53
Evaluated at bid price : 19.53
Bid-YTW : 7.35 %
EMA.PR.C FixedReset Disc -2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.60
Evaluated at bid price : 13.60
Bid-YTW : 6.66 %
ELF.PR.G Perpetual-Discount -2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.16 %
NA.PR.A FixedReset Prem -2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 7.25 %
BMO.PR.W FixedReset Disc -2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 6.58 %
BMO.PR.D FixedReset Disc -2.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.31
Evaluated at bid price : 14.31
Bid-YTW : 6.84 %
PWF.PR.I Perpetual-Premium -2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 7.19 %
MFC.PR.O FixedReset Ins Non -2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 7.27 %
TD.PF.A FixedReset Disc -2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 6.46 %
BMO.PR.B FixedReset Prem -2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.69 %
TD.PF.K FixedReset Disc -2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 6.58 %
BAM.PF.F FixedReset Disc -2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 6.92 %
TD.PF.M FixedReset Disc -2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.50 %
BAM.PR.Z FixedReset Disc -2.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 6.74 %
EIT.PR.B SplitShare -2.44 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 7.85 %
CU.PR.F Perpetual-Discount -2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 6.36 %
BMO.PR.Z Perpetual-Discount -2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.51
Evaluated at bid price : 20.51
Bid-YTW : 6.18 %
MFC.PR.Q FixedReset Ins Non -2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.80
Evaluated at bid price : 12.80
Bid-YTW : 6.83 %
PWF.PR.G Perpetual-Premium -2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.51
Evaluated at bid price : 20.51
Bid-YTW : 7.35 %
EMA.PR.H FixedReset Prem -2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 22.01
Evaluated at bid price : 22.40
Bid-YTW : 5.53 %
CU.PR.E Perpetual-Discount -2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.06
Evaluated at bid price : 19.06
Bid-YTW : 6.51 %
PVS.PR.F SplitShare -2.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 22.50
Bid-YTW : 7.57 %
RY.PR.S FixedReset Disc -2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 14.80
Evaluated at bid price : 14.80
Bid-YTW : 5.81 %
PVS.PR.G SplitShare -2.18 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.01
Bid-YTW : 7.54 %
CU.PR.I FixedReset Prem -2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.69 %
RY.PR.H FixedReset Disc -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 6.26 %
RY.PR.N Perpetual-Discount -1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 6.18 %
NA.PR.E FixedReset Disc -1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.92 %
MFC.PR.K FixedReset Ins Non -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 7.03 %
BAM.PF.E FixedReset Disc -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.98
Evaluated at bid price : 11.98
Bid-YTW : 6.59 %
NA.PR.S FixedReset Disc -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.25 %
BNS.PR.H FixedReset Prem -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 6.65 %
CM.PR.P FixedReset Disc -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.28
Evaluated at bid price : 11.28
Bid-YTW : 7.04 %
IFC.PR.E Deemed-Retractible -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.69
Evaluated at bid price : 18.69
Bid-YTW : 7.01 %
SLF.PR.H FixedReset Ins Non -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 6.62 %
TRP.PR.J FixedReset Prem -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.72 %
PWF.PR.O Perpetual-Premium -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.18
Evaluated at bid price : 20.18
Bid-YTW : 7.34 %
GWO.PR.L Deemed-Retractible -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.46
Evaluated at bid price : 19.46
Bid-YTW : 7.32 %
CU.PR.G Perpetual-Discount -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.40 %
PVS.PR.D SplitShare -1.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 23.20
Bid-YTW : 9.90 %
SLF.PR.I FixedReset Ins Non -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 6.92 %
GWO.PR.F Deemed-Retractible -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 21.03
Evaluated at bid price : 21.03
Bid-YTW : 7.07 %
CU.PR.H Perpetual-Discount -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 6.65 %
RY.PR.C Deemed-Retractible -1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.25
Bid-YTW : 9.10 %
RY.PR.F Deemed-Retractible -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.01
Bid-YTW : 9.54 %
TD.PF.G FixedReset Prem -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.54 %
RY.PR.G Deemed-Retractible -1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.15
Bid-YTW : 9.24 %
BNS.PR.E FixedReset Prem 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.63 %
BIP.PR.B FixedReset Prem 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.29
Evaluated at bid price : 20.29
Bid-YTW : 6.83 %
W.PR.M FixedReset Prem 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.02
Evaluated at bid price : 20.02
Bid-YTW : 6.65 %
PWF.PR.H Perpetual-Premium 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.34 %
IFC.PR.I Perpetual-Premium 2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.95 %
MFC.PR.L FixedReset Ins Non 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.10
Evaluated at bid price : 11.10
Bid-YTW : 6.88 %
BIK.PR.A FixedReset Prem 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.37 %
POW.PR.D Perpetual-Discount 2.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.92 %
PVS.PR.H SplitShare 3.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 21.90
Bid-YTW : 7.08 %
W.PR.K FixedReset Prem 5.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.80 %
PWF.PR.P FixedReset Disc 8.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 8.40
Evaluated at bid price : 8.40
Bid-YTW : 6.64 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.E Deemed-Retractible 80,382 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.20
Bid-YTW : 9.11 %
TD.PF.A FixedReset Disc 62,111 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 6.46 %
RY.PR.F Deemed-Retractible 55,590 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.01
Bid-YTW : 9.54 %
CM.PR.S FixedReset Disc 42,896 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.05 %
TD.PF.G FixedReset Prem 42,427 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.54 %
RY.PR.A Deemed-Retractible 37,314 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.16
Bid-YTW : 9.16 %
There were 51 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.E FixedReset Disc Quote: 10.51 – 16.75
Spot Rate : 6.2400
Average : 3.4446

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.51
Evaluated at bid price : 10.51
Bid-YTW : 7.79 %

TRP.PR.B FixedReset Disc Quote: 7.70 – 11.60
Spot Rate : 3.9000
Average : 2.2797

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 7.70
Evaluated at bid price : 7.70
Bid-YTW : 6.08 %

TRP.PR.D FixedReset Disc Quote: 9.90 – 13.35
Spot Rate : 3.4500
Average : 1.8877

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 8.41 %

BAM.PR.R FixedReset Disc Quote: 8.05 – 11.10
Spot Rate : 3.0500
Average : 1.7927

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 8.05
Evaluated at bid price : 8.05
Bid-YTW : 9.07 %

TRP.PR.A FixedReset Disc Quote: 10.50 – 12.80
Spot Rate : 2.3000
Average : 1.4473

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 6.70 %

BMO.PR.C FixedReset Disc Quote: 15.16 – 17.00
Spot Rate : 1.8400
Average : 1.0566

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-27
Maturity Price : 15.16
Evaluated at bid price : 15.16
Bid-YTW : 6.69 %

BoC Cuts Policy Rates Another 50bp; Prime Follows

March 27th, 2020

The Bank of Canada has announced:

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic.

The spread of COVID-19 is having serious consequences for Canadians and for the economy, as is the abrupt decline in world oil prices. The pandemic-driven contraction has prompted decisive fiscal policy action in Canada to support individuals and businesses and to minimize any permanent damage to the structure of the economy.

The Bank is playing an important complementary role in this effort. Its interest rate setting cushions the impact of the shocks by easing the cost of borrowing. Its efforts to maintain the functioning of the financial system are helping keep credit available to people and companies. The intent of our decision today is to support the financial system in its central role of providing credit in the economy, and to lay the foundation for the economy’s return to normalcy.

The Bank’s efforts have been primarily focused on ensuring the availability of credit by providing liquidity to help markets continue to function. To promote credit availability, the Bank has expanded its various term repo facilities. To preserve market function, the Bank is conducting Government of Canada bond buybacks and switches, purchases of Canada Mortgage Bonds and banker’s acceptances, and purchases of provincial money market instruments. All these additional measures have been detailed on the Bank’s website and will be extended or augmented as needed.

Today, the Bank is launching two new programs.

First, the Commercial Paper Purchase Program (CPPP) will help to alleviate strains in short-term funding markets and thereby preserve a key source of funding for businesses. Details of the program will be available on the Bank’s web site.

Second, to address strains in the Government of Canada debt market and to enhance the effectiveness of all other actions taken so far, the Bank will begin acquiring Government of Canada securities in the secondary market. Purchases will begin with a minimum of $5 billion per week, across the yield curve. The program will be adjusted as conditions warrant, but will continue until the economic recovery is well underway. The Bank’s balance sheet will expand as a result of these purchases.

The Bank is closely monitoring economic and financial conditions, in coordination with other G7 central banks and fiscal authorities, and will update its outlook in mid-April. As the situation evolves, Governing Council stands ready to take further action as required to support the Canadian economy and financial system and to keep inflation on target.

Changes to prime have not been announced yet, but watch this space!

The Big Banks have followed with their prime rates – at least, according to the two announcements made public as of initial publication of this post. Sadly, we do not know what has been done with the banks’ top secret internal primes or the spreads to Prime that the average customer might see on his renewal notice.

Details are:

TD did not issue a press release, but did put out some puffery:

More help is here. Bank of Canada Governor Stephen Poloz and his team have been proactive and creative in their response to the pandemic, and today’s announcement continues this trend. The Bank of Canada not only sliced its policy rate back to 0.25%, but also delivered two new asset purchases programs, including quantitative easing ‘proper’, specifying that its purchases of Government of Canada securities will result in a larger balance sheet. These are welcome developments that, together with the string of liquidity and other measures of recent weeks, provide a solid backstop to the Canadian financial system. These actions should also reinforce the transmission of monetary policy, providing a fair bit of gas to the economic recovery when the pandemic is finally behind us.

Getting from here to there will not be easy, and so we should not be surprised to see further announcements in the coming weeks as markets digest the implications of the economic sudden stop (see our recent forecast update for our current estimates of the implications on growth and labour markets).

Looking ahead, in a break from past research and communications that had put negative interest rates on the table, Governor Poloz and his team have now seemingly ruled any further cuts out, referring to 0.25% as the effective lower bound. This had been hinted at by the Governor in recent weeks – and in the press conference following this morning’s rate decision the Governor noted that negative rates are still in the toolkit, but experiences in other countries have seen challenges to the financial system result from these policies.

Thus, while they’re not completely ruled out, the Governor’s view is that negative rates are “not sensible” at this stage. Clearly then, any further easing will take the form of increased purchases of government securities, and/or adjustments to other purchase programs to ensure that monetary stimulus is being transmitted fully to all corners of the financial system.

David Parkinson reports in the Globe:

With the Canadian government moving forward on a $52-billion emergency aid program, and with the Bank of Canada having already taken numerous steps in the past two weeks to address market liquidity, the bank decided the time was right to open its policy taps.

“A firefighter has never been criticized for using too much water,” Bank of Canada Governor Stephen Poloz said in a conference call with reporters on Friday.

However, Mr. Poloz made it clear that the bank has no intention of cutting its rate further, and rejected the idea of negative interest rates similar to those at the European Central Bank.

“At this stage, it would be not sensible to think of interest rates going lower than this. We consider this to be the effective lower bound,” Mr. Poloz said.

HSE Has Negative Outlook At S&P

March 26th, 2020

Standard & Poor’s has announced:

  • S&P Global Ratings lowered its West Texas Intermediate (WTI) and Brent crude oil price assumptions on March 19, 2020, which initiated a global review of its rated oil and gas issuers.
  • We lowered our 2020 WTI price to US$25 from US$35 and lowered our Brent price to US$30 from US$40.
  • The reduced 2020 price assumptions, in conjunction with the lower 2021 and 2022 prices published on March 9, translate into materially lower revenue and cash flow forecasts for Husky.
  • Our projected three-year (2020-2022) weighted-average funds from operations (FFO)-to-debt and discretionary cash flow (DCF)-to-debt ratios have weakened relative to those we previously forecast.
  • S&P Global Ratings revised its outlook on Husky to negative from stable and affirmed its ‘BBB’ long-term issuer credit and senior unsecured debt ratings on the company.
  • The negative outlook reflects S&P Global Ratings’ view that there is increased risk Husky’s cash flow metrics could deteriorate below the minimum level required to support the ‘BBB’ credit rating.


While we acknowledge the counterbalancing benefits of the company’s downstream segment, including midstream assets, the upstream segment’s revenues and profitability continue to dominate the company’s credit profile. Moreover, the company’s heavy oil-dominant upstream product mix exposes its financial performance to additional volatility, given the persistent weakness of Canadian heavy oil prices.

We would lower the rating to ‘BBB-‘, if Husky’s weighted-average FFO-to-debt ratio decreased below 30%, and we expected the cash flow ratio would remain at this weakened level for a sustained period. Nevertheless, we believe Husky’s participation in several industry sectors, and the integration benefits of its downstream operations, should continue to support an investment-grade rating.

We would revise the outlook to stable, if Husky is able to improve and sustain its three-year weighted-average FFO-to-debt ratio at the upper end of the 30%-45% range. In the absence of material operating efficiency gains, we believe this ratio improvement would only occur in tandem with strengthening hydrocarbon prices.

Several other ratings actions were taken on Canadian oil companies:

  • Cenovus downgraded one notch to BBB-, Negative Outlook
  • Canadian Natural Resources downgraded one notch to BBB, Stable Outlook
  • Suncor downgraded one notch to BBB+, Stable Outlook
  • Ovintiv Canada LLC downgraded one notch to BBB-, Negative Outlook

Husky remains with its Issuer Rating of BBB, although the Outlook has now turned negative. The preferreds remain at P-3(high).

Affected issues are HSE.PR.A, HSE.PR.B, HSE.PR.C, HSE.PR.E and HSE.PR.G .

CF.PR.A and CF.PR.C : Trend Negative, says DBRS

March 26th, 2020

DBRS has announced that it:

confirmed its rating on Canaccord Genuity Group Inc.’s (CF or the Company) Cumulative Preferred Shares at Pfd-3 (low) and changed the trend to Negative from Stable. The Company has a Support Assessment of SA3, which implies no expected systemic support.

KEY RATING CONSIDERATIONS
The trend change to Negative from Stable accounts for the impact that current stresses to the global economy and significant market volatility are having and will likely continue to have on CF’s business. Global reactions to the Coronavirus Disease (COVID-19) pandemic have caused economic stresses in the capital markets with declining market values across many asset classes. These factors were abrupt and unexpected, giving the Company minimal time to reposition its balance sheet, which will likely translate into headwinds for its earnings.

Specifically, DBRS Morningstar has the following concerns:

(1) While CF’s trading businesses may benefit from increased volatility, its investment banking activities have been largely subdued among significant global uncertainty related to the coronavirus and its ultimate impact. DBRS Morningstar expects this uncertainty to persist, which will likely adversely affect earnings in the coming quarters.

(2) DBRS Morningstar anticipates that the Company’s margin-lending business may be required to liquidate collateral at fire sale prices, as with other global financial institutions, resulting in potential losses for CF.

(3) DBRS Morningstar expects the current environment might create difficulties for CF as it manages the different businesses it has acquired in the U.S., UK, and Australia over the last few years while also paying down associated debt that will come due throughout the year.

This reverses their August, 2018, decision to upgrade the trend to Stable.

Affected issues are CF.PR.A and CF.PR.C.

March 26, 2020

March 26th, 2020
unicorn_200326_1 money_200326_1
money_200326_2 unicorn_200326_2

It’s been a good time for markets. And a very good time for some:

Boeing is up nearly 90 percent this week. American Airlines has jumped almost 50 percent. Carnival Corporation has soared about 46 percent.

Wall Street has been in rally mode, as investors bid up shares of companies that were set to receive support from Washington’s $2 trillion coronavirus aid bill.

With the package advancing through the Senate, the gains continued on Thursday. The S & P 500 climbed about 6 percent, even after the government reported a staggering jump in unemployment claims by workers.

The three-day rally has lifted the S & P 500 by around 17 percent, its best such run since 1933, according to data from Howard Silverblatt, senior index analyst for S & P Dow Jones Indices.

And this was in the face of incredible unemployment numbers:

More than three million people filed for unemployment benefits last week, sending a collective shudder throughout the economy that is unlike anything Americans have experienced.

Thursday’s unemployment numbers provide only the first hint of the economic cataclysm in progress. Even comparatively optimistic forecasters expect millions of lost jobs, and with them foreclosures, evictions and bankruptcies. Thousands of businesses have closed in response to the pandemic, and many will never reopen. Some economists say the decline in gross domestic product this year could rival the worst years of the Great Depression.

The terrifying speed of the economic collapse has spurred lawmakers to action. Late Wednesday night, Republican and Democratic senators agreed on a $2 trillion aid package that would provide cash payments to nearly all Americans and would expand the unemployment system, among other changes. The bill is expected to get final congressional approval on Friday.

Despite the glitches, Thursday’s figures suggest the scale of the problem. In a single week, the pandemic wiped out a year and a half of job gains. The past two weeks’ claims alone would be enough to push the unemployment rate up to 5.7 percent from 3.5 percent in February — a half-century low that now seems like ancient history.

Some forecasters think the unemployment rate could hit 10 percent this summer, which would equal the highest level from the last recession more than a decade ago. Back then, it took nearly two years for the jobless rate to reach that height.

Meanwhile, in Canada:

Canada said it was ready to buy $150-billion of mortgage securities, up from $50-billion announced earlier this month, to expand funding for lenders dealing with tighter credit markets due to the economic impact of the coronavirus outbreak.

The Toronto Stock Exchange’s S&P/TSX composite index rose 1.77%, or 231.94 points, to 13,371.74. The index has rebounded nearly 20% from Monday’s 8-year low.

The heavily weighted financials group rallied 1.7%, while industrials were up 3.3%.

The Canadian dollar was trading 1% higher at 1.4047 to the greenback, or 71.19 U.S. cents. The currency, which on Wednesday notched its biggest gain in four years, touched its strongest intraday level since March 17 at 1.4010.

The price of oil, one of Canada’s major exports, fell more than 7% as restrictions on travel worldwide slashed fuel demand and the United States scrapped plans to buy domestic oil for its emergency reserve.

Canadian government bond yields fell across the curve in sympathy with U.S. Treasuries. The 10-year was down 7.6 basis points at 0.826%.

TXPR closed at 462.27, up 4.69% on the day. Volume today was 4.85-million – and this enormous figure is well below the average of the past three weeks.

CPD closed at 9.19, up 5.15% on the day. Volume was 294,589, below the average of the past 30 trading days.

ZPR closed at 7.15, up 3.32% on the day. Volume of 1,032,368 was nothing special in the context of the past 30 trading days.

Five-year Canada yields were down 4bp to 0.75% today.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 1.2009 % 1,398.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.2009 % 2,565.4
Floater 7.75 % 7.89 % 55,847 11.51 4 1.2009 % 1,478.5
OpRet 0.00 % 0.00 % 0 0.00 0 2.0763 % 3,119.8
SplitShare 5.32 % 7.26 % 80,779 3.98 7 2.0763 % 3,725.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 2.0763 % 2,906.9
Perpetual-Premium 6.89 % 7.09 % 109,617 12.40 12 5.7786 % 2,472.9
Perpetual-Discount 6.42 % 6.57 % 90,672 13.10 24 5.0332 % 2,728.4
FixedReset Disc 7.75 % 6.55 % 218,554 12.75 64 5.2666 % 1,558.0
Deemed-Retractible 6.24 % 6.87 % 104,613 12.76 27 4.0105 % 2,711.3
FloatingReset 5.99 % 6.12 % 62,724 13.73 3 4.0927 % 1,689.0
FixedReset Prem 6.54 % 6.57 % 203,919 13.04 22 4.2049 % 2,072.3
FixedReset Bank Non 2.01 % 5.54 % 128,429 1.79 3 0.5979 % 2,639.3
FixedReset Ins Non 7.80 % 6.94 % 117,184 12.38 22 7.2356 % 1,511.1
Performance Highlights
Issue Index Change Notes
PWF.PR.P FixedReset Disc -16.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 7.76
Evaluated at bid price : 7.76
Bid-YTW : 7.35 %
PVS.PR.H SplitShare -5.78 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 21.20
Bid-YTW : 7.66 %
BMO.PR.D FixedReset Disc -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.72
Evaluated at bid price : 14.72
Bid-YTW : 6.72 %
RY.PR.C Deemed-Retractible 1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.52
Bid-YTW : 8.40 %
RY.PR.E Deemed-Retractible 1.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.41
Bid-YTW : 8.57 %
BNS.PR.Z FixedReset Bank Non 1.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.56
Bid-YTW : 5.54 %
W.PR.K FixedReset Prem 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 7.17 %
RY.PR.G Deemed-Retractible 1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.40
Bid-YTW : 8.59 %
BIP.PR.A FixedReset Disc 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 7.97 %
BNS.PR.E FixedReset Prem 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.76 %
TD.PF.C FixedReset Disc 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.55
Evaluated at bid price : 12.55
Bid-YTW : 6.50 %
GWO.PR.N FixedReset Ins Non 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 9.15
Evaluated at bid price : 9.15
Bid-YTW : 5.33 %
SLF.PR.D Deemed-Retractible 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.29 %
CU.PR.G Perpetual-Discount 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 6.31 %
BNS.PR.G FixedReset Prem 1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.58 %
TD.PF.B FixedReset Disc 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 6.35 %
MFC.PR.K FixedReset Ins Non 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.61
Evaluated at bid price : 11.61
Bid-YTW : 6.98 %
SLF.PR.B Deemed-Retractible 2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 6.28 %
CM.PR.P FixedReset Disc 2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.48
Evaluated at bid price : 11.48
Bid-YTW : 6.98 %
PVS.PR.E SplitShare 2.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 23.01
Bid-YTW : 9.20 %
TD.PF.K FixedReset Disc 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.12
Evaluated at bid price : 14.12
Bid-YTW : 6.46 %
RY.PR.W Perpetual-Discount 2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.01 %
BAM.PR.B Floater 2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 7.70
Evaluated at bid price : 7.70
Bid-YTW : 7.89 %
POW.PR.D Perpetual-Discount 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 7.10 %
PWF.PR.H Perpetual-Premium 2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.71
Evaluated at bid price : 19.71
Bid-YTW : 7.45 %
GWO.PR.G Deemed-Retractible 2.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.92
Evaluated at bid price : 18.92
Bid-YTW : 6.92 %
MFC.PR.B Deemed-Retractible 2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 6.27 %
MFC.PR.J FixedReset Ins Non 2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.71
Evaluated at bid price : 12.71
Bid-YTW : 7.02 %
BAM.PF.H FixedReset Prem 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.17 %
MFC.PR.F FixedReset Ins Non 2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 7.76
Evaluated at bid price : 7.76
Bid-YTW : 6.67 %
RY.PR.Z FixedReset Disc 2.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 6.13 %
CCS.PR.C Deemed-Retractible 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.81 %
BAM.PF.I FixedReset Prem 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 6.19 %
NA.PR.X FixedReset Prem 2.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.13 %
TRP.PR.J FixedReset Prem 2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 21.08
Evaluated at bid price : 21.08
Bid-YTW : 6.61 %
SLF.PR.E Deemed-Retractible 2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.34 %
GWO.PR.I Deemed-Retractible 3.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 6.62 %
PWF.PR.A Floater 3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 8.50
Evaluated at bid price : 8.50
Bid-YTW : 7.22 %
BAM.PF.D Perpetual-Discount 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.67
Evaluated at bid price : 18.67
Bid-YTW : 6.61 %
SLF.PR.A Deemed-Retractible 3.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 6.27 %
POW.PR.A Perpetual-Premium 3.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.69
Evaluated at bid price : 19.69
Bid-YTW : 7.29 %
BAM.PF.C Perpetual-Discount 3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 6.64 %
PWF.PR.G Perpetual-Premium 3.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.99
Evaluated at bid price : 20.99
Bid-YTW : 7.18 %
BAM.PR.N Perpetual-Discount 3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.61 %
TRP.PR.G FixedReset Disc 3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 6.67 %
TD.PF.D FixedReset Disc 3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 6.46 %
BAM.PF.J FixedReset Prem 3.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.68
Evaluated at bid price : 19.68
Bid-YTW : 6.07 %
GWO.PR.H Deemed-Retractible 3.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.39
Evaluated at bid price : 18.39
Bid-YTW : 6.64 %
TD.PF.H FixedReset Prem 3.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.56
Evaluated at bid price : 18.56
Bid-YTW : 6.54 %
TD.PF.G FixedReset Prem 3.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.52 %
GWO.PR.R Deemed-Retractible 3.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 6.70 %
TRP.PR.E FixedReset Disc 3.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.67
Evaluated at bid price : 12.67
Bid-YTW : 6.46 %
RY.PR.Q FixedReset Prem 3.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.34 %
BNS.PR.H FixedReset Prem 3.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 6.59 %
TRP.PR.D FixedReset Disc 3.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.14
Evaluated at bid price : 13.14
Bid-YTW : 6.29 %
CIU.PR.A Perpetual-Discount 3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 6.70 %
MFC.PR.G FixedReset Ins Non 3.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 7.34 %
BMO.PR.B FixedReset Prem 3.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.18
Evaluated at bid price : 18.18
Bid-YTW : 6.57 %
EIT.PR.B SplitShare 3.92 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.55
Bid-YTW : 7.26 %
BAM.PR.M Perpetual-Discount 3.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 6.55 %
IFC.PR.E Deemed-Retractible 4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.89 %
PWF.PR.I Perpetual-Premium 4.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 21.65
Evaluated at bid price : 21.90
Bid-YTW : 6.98 %
EMA.PR.C FixedReset Disc 4.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 6.53 %
CM.PR.Y FixedReset Disc 4.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.06
Evaluated at bid price : 17.06
Bid-YTW : 6.61 %
RY.PR.S FixedReset Disc 4.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 15.13
Evaluated at bid price : 15.13
Bid-YTW : 5.74 %
TRP.PR.A FixedReset Disc 4.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.44
Evaluated at bid price : 11.44
Bid-YTW : 6.20 %
CU.PR.E Perpetual-Discount 4.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.36 %
CU.PR.C FixedReset Disc 4.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.73
Evaluated at bid price : 13.73
Bid-YTW : 5.67 %
TRP.PR.B FixedReset Disc 4.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 8.65
Evaluated at bid price : 8.65
Bid-YTW : 5.55 %
ELF.PR.G Perpetual-Discount 4.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.95 %
RY.PR.N Perpetual-Discount 4.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.06 %
RY.PR.P Perpetual-Premium 4.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 21.63
Evaluated at bid price : 21.63
Bid-YTW : 6.15 %
NA.PR.G FixedReset Disc 4.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 7.02 %
CU.PR.F Perpetual-Discount 4.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 6.21 %
PVS.PR.F SplitShare 4.59 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 23.01
Bid-YTW : 6.99 %
HSE.PR.A FixedReset Disc 4.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 6.11
Evaluated at bid price : 6.11
Bid-YTW : 9.77 %
BIP.PR.E FixedReset Disc 4.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.32
Evaluated at bid price : 18.32
Bid-YTW : 6.87 %
CM.PR.O FixedReset Disc 4.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.60
Evaluated at bid price : 11.60
Bid-YTW : 6.84 %
TRP.PR.K FixedReset Prem 4.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.41
Evaluated at bid price : 19.41
Bid-YTW : 6.40 %
SLF.PR.C Deemed-Retractible 4.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.27 %
CU.PR.D Perpetual-Discount 4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.38
Evaluated at bid price : 19.38
Bid-YTW : 6.40 %
POW.PR.C Perpetual-Premium 4.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 7.18 %
NA.PR.E FixedReset Disc 4.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 6.86 %
CM.PR.S FixedReset Disc 4.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 6.72 %
BMO.PR.Z Perpetual-Discount 5.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.03 %
SLF.PR.J FloatingReset 5.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 8.40
Evaluated at bid price : 8.40
Bid-YTW : 5.73 %
CM.PR.R FixedReset Disc 5.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.55
Evaluated at bid price : 14.55
Bid-YTW : 7.01 %
TD.PF.M FixedReset Disc 5.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 6.38 %
CU.PR.H Perpetual-Discount 5.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.57 %
NA.PR.A FixedReset Prem 5.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.10 %
BMO.PR.E FixedReset Disc 5.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.86
Evaluated at bid price : 14.86
Bid-YTW : 6.25 %
TD.PF.F Perpetual-Discount 5.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.00 %
EMA.PR.E Perpetual-Discount 5.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 5.99 %
BMO.PR.F FixedReset Disc 5.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.44 %
PWF.PR.T FixedReset Disc 5.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.89
Evaluated at bid price : 11.89
Bid-YTW : 7.13 %
BIK.PR.A FixedReset Prem 5.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 7.52 %
NA.PR.C FixedReset Disc 5.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 7.05 %
BNS.PR.I FixedReset Disc 5.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 15.06
Evaluated at bid price : 15.06
Bid-YTW : 5.90 %
GWO.PR.S Deemed-Retractible 5.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.01 %
TD.PF.I FixedReset Disc 5.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.61
Evaluated at bid price : 14.61
Bid-YTW : 6.62 %
TD.PF.L FixedReset Disc 5.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.21
Evaluated at bid price : 17.21
Bid-YTW : 6.27 %
RY.PR.J FixedReset Disc 6.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 6.10 %
GWO.PR.T Deemed-Retractible 6.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 6.97 %
MFC.PR.H FixedReset Ins Non 6.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.29
Evaluated at bid price : 13.29
Bid-YTW : 7.29 %
IFC.PR.C FixedReset Ins Non 6.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.51
Evaluated at bid price : 12.51
Bid-YTW : 6.63 %
RY.PR.O Perpetual-Discount 6.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.06 %
TD.PF.J FixedReset Disc 6.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.91
Evaluated at bid price : 14.91
Bid-YTW : 6.16 %
TD.PF.E FixedReset Disc 6.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.02
Evaluated at bid price : 14.02
Bid-YTW : 6.37 %
EMA.PR.F FixedReset Disc 6.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 6.56 %
GWO.PR.P Deemed-Retractible 6.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.87 %
W.PR.M FixedReset Prem 6.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.77
Evaluated at bid price : 19.77
Bid-YTW : 6.73 %
TRP.PR.C FixedReset Disc 6.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 9.00
Evaluated at bid price : 9.00
Bid-YTW : 6.16 %
BAM.PF.B FixedReset Disc 6.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.33
Evaluated at bid price : 13.33
Bid-YTW : 6.73 %
BIP.PR.D FixedReset Disc 6.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 6.69 %
ELF.PR.H Perpetual-Premium 6.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.86 %
MFC.PR.Q FixedReset Ins Non 6.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.10
Evaluated at bid price : 13.10
Bid-YTW : 6.74 %
MFC.PR.N FixedReset Ins Non 7.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.60
Evaluated at bid price : 11.60
Bid-YTW : 6.37 %
SLF.PR.G FixedReset Ins Non 7.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 8.48
Evaluated at bid price : 8.48
Bid-YTW : 6.05 %
IAF.PR.B Deemed-Retractible 7.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.49 %
CM.PR.Q FixedReset Disc 7.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 7.14 %
POW.PR.G Perpetual-Premium 7.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.11
Evaluated at bid price : 20.11
Bid-YTW : 7.13 %
CM.PR.T FixedReset Disc 7.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 16.84
Evaluated at bid price : 16.84
Bid-YTW : 6.32 %
EMA.PR.H FixedReset Prem 7.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 22.35
Evaluated at bid price : 22.92
Bid-YTW : 5.39 %
PWF.PR.Q FloatingReset 7.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 8.60
Evaluated at bid price : 8.60
Bid-YTW : 6.24 %
IFC.PR.I Perpetual-Premium 7.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.36
Evaluated at bid price : 19.36
Bid-YTW : 7.09 %
GWO.PR.L Deemed-Retractible 7.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.21 %
BIP.PR.C FixedReset Prem 7.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.09 %
GWO.PR.F Deemed-Retractible 7.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 6.98 %
PWF.PR.O Perpetual-Premium 7.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.22 %
IFC.PR.A FixedReset Ins Non 7.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 10.51
Evaluated at bid price : 10.51
Bid-YTW : 6.05 %
MFC.PR.I FixedReset Ins Non 8.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.93
Evaluated at bid price : 12.93
Bid-YTW : 7.10 %
GWO.PR.M Deemed-Retractible 8.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.33
Evaluated at bid price : 20.33
Bid-YTW : 7.19 %
MFC.PR.M FixedReset Ins Non 8.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.11
Evaluated at bid price : 12.11
Bid-YTW : 6.74 %
CU.PR.I FixedReset Prem 8.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 5.57 %
BIP.PR.B FixedReset Prem 8.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 6.91 %
PWF.PR.K Perpetual-Discount 8.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.37
Evaluated at bid price : 18.37
Bid-YTW : 6.87 %
PWF.PR.S Perpetual-Discount 8.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.76 %
PWF.PR.R Perpetual-Premium 8.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.96 %
IAF.PR.I FixedReset Ins Non 8.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.29
Evaluated at bid price : 13.29
Bid-YTW : 6.94 %
GWO.PR.Q Deemed-Retractible 8.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.83 %
BAM.PR.T FixedReset Disc 9.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.35
Evaluated at bid price : 11.35
Bid-YTW : 6.67 %
MFC.PR.O FixedReset Ins Non 9.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 7.13 %
EIT.PR.A SplitShare 9.09 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 24.00
Bid-YTW : 6.02 %
PWF.PR.E Perpetual-Premium 9.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 7.00 %
IFC.PR.G FixedReset Ins Non 9.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.24
Evaluated at bid price : 14.24
Bid-YTW : 6.24 %
PWF.PR.Z Perpetual-Discount 9.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 6.88 %
RY.PR.M FixedReset Disc 9.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 6.13 %
PWF.PR.L Perpetual-Discount 9.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.85 %
PWF.PR.F Perpetual-Discount 10.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 6.89 %
EML.PR.A FixedReset Ins Non 10.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.44 %
IFC.PR.F Deemed-Retractible 10.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.54 %
MFC.PR.R FixedReset Ins Non 10.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 16.05
Evaluated at bid price : 16.05
Bid-YTW : 7.10 %
BAM.PR.X FixedReset Disc 11.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 6.22 %
SLF.PR.H FixedReset Ins Non 11.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 10.67
Evaluated at bid price : 10.67
Bid-YTW : 6.62 %
BAM.PR.R FixedReset Disc 11.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 6.48 %
IAF.PR.G FixedReset Ins Non 11.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.14
Evaluated at bid price : 13.14
Bid-YTW : 6.75 %
SLF.PR.I FixedReset Ins Non 11.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.41
Evaluated at bid price : 12.41
Bid-YTW : 6.92 %
BAM.PF.F FixedReset Disc 13.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 6.80 %
BAM.PF.E FixedReset Disc 13.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 6.57 %
BAM.PR.Z FixedReset Disc 13.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.36
Evaluated at bid price : 14.36
Bid-YTW : 6.64 %
BAM.PF.A FixedReset Disc 15.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 14.73
Evaluated at bid price : 14.73
Bid-YTW : 6.62 %
BAM.PF.G FixedReset Disc 16.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 6.38 %
HSE.PR.G FixedReset Disc 17.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 10.10
Evaluated at bid price : 10.10
Bid-YTW : 10.39 %
HSE.PR.C FixedReset Disc 20.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 10.24
Evaluated at bid price : 10.24
Bid-YTW : 10.15 %
HSE.PR.E FixedReset Disc 23.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 9.43 %
Volume Highlights
Issue Index Shares
Traded
Notes
BAM.PR.R FixedReset Disc 387,868 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 6.48 %
BAM.PR.X FixedReset Disc 68,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 6.22 %
TD.PF.G FixedReset Prem 61,991 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.52 %
RY.PR.E Deemed-Retractible 57,735 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.41
Bid-YTW : 8.57 %
TRP.PR.J FixedReset Prem 53,125 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 21.08
Evaluated at bid price : 21.08
Bid-YTW : 6.61 %
RY.PR.Z FixedReset Disc 52,197 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 6.13 %
There were 90 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.M FixedReset Ins Non Quote: 12.11 – 18.50
Spot Rate : 6.3900
Average : 3.6833

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 12.11
Evaluated at bid price : 12.11
Bid-YTW : 6.74 %

POW.PR.B Perpetual-Discount Quote: 18.61 – 22.79
Spot Rate : 4.1800
Average : 2.4253

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 7.37 %

MFC.PR.F FixedReset Ins Non Quote: 7.76 – 11.00
Spot Rate : 3.2400
Average : 1.9026

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 7.76
Evaluated at bid price : 7.76
Bid-YTW : 6.67 %

TD.PF.M FixedReset Disc Quote: 17.75 – 19.75
Spot Rate : 2.0000
Average : 1.2553

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 6.38 %

SLF.PR.G FixedReset Ins Non Quote: 8.48 – 10.99
Spot Rate : 2.5100
Average : 1.7949

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 8.48
Evaluated at bid price : 8.48
Bid-YTW : 6.05 %

POW.PR.C Perpetual-Premium Quote: 20.70 – 22.95
Spot Rate : 2.2500
Average : 1.5373

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-26
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 7.18 %

Amid dividend cuts, income investors can still find safety

March 25th, 2020

John Heinzl was kind enough to quote me in his recent piece Amid dividend cuts, income investors can still find safety:

James Hymas, president of Hymas Investment Management, said the risk of banks cutting dividends is “so small that it cannot be quantified.”

“The saving grace in all of this is that after the credit crunch the regulators really went to town, insisting on higher capital levels,” Mr. Hymas said in an interview. “So the banks have an enormous shock absorber … in terms of their capital and their size and their protection from competition.”

March 25, 2020

March 25th, 2020
unicorn_200325_1 moneygusher_200325_1
rich_200325_1 unicorn_200325_2
unicorn_200325_3 rich_200325_2
moneygusher_200325_2 unicorn_200325_4

Two Trillion bucks are on the way:

Stocks on Wall Street rose on Wednesday as investors sized up a $2 trillion coronavirus rescue package intended to shore up the American economy, but the gains faded late in the day as debate over the bill continued without a vote in the Senate.

The legislation would be the biggest fiscal stimulus package in modern American history, and more than double the size of the roughly $800 billion stimulus package that Congress passed in 2009, during the last recession.

The S&P 500 climbed more than 1 percent, adding to a 9.4 percent gain on Tuesday that had come as investors anticipated that Democrats and Republicans would reach a deal over the plans.

Some of the companies expected to benefit from government help led Wednesday’s gains. Boeing was up more than 20 percent, helping lift the Dow Jones industrial average. American Airlines and Carnival Corporation both jumped more than 10 percent.

But there are always some who are convinced of a vast conspiracy to do them out of what is rightfully theirs:

A last-minute dispute over jobless aid was delaying a final Senate vote expected on Wednesday to approve sweeping legislation to deliver $2 trillion in government relief for an economy battered by the coronavirus pandemic.

Four Republican senators said they believed the bill, which would provide a substantial expansion of unemployment insurance, could lead to layoffs and incentivize workers to collect unemployment payments rather than take a job. They argued that because the unemployment benefits would in some cases be greater than people’s regular wages, some employers and employees would decide that layoffs were preferable. The senators said they would object to fast-tracking a vote until their concerns were addressed.

“If this is not a drafting error, then this is the worst idea I have seen in a long time,” said Senator Lindsey Graham, Republican of South Carolina. “We need to create a sustainable system.”

We all know someone like Lindsey Graham, eh?

And it was a good day for Canadian markets:

Canada’s main stock index climbed on Wednesday after the country’s legislators approved a $27-billion stimulus bill to help people and businesses deal with the coronavirus pandemic. The bill also includes $55-billion in the form of tax deferrals.

The Toronto Stock Exchange’s S&P/TSX composite index closed unofficially up 568.15 points, or 4.52%, at 13,139.23. It rose as high as 12,906.28 before paring gains late in the session.

Ten of the index’s 11 major sectors were higher, led by an 8-per-cent jump in the heavyweight energy sector and a 6.7-per-cent increase in financial stocks.

Of course, all the disruption is leading to shortages of vital supplies:

Sales of gold bars and coins have been soaring since the outbreak of the novel coronavirus and dealers are struggling to keep up with demand. While orders pour in, the supply has tightened considerably because of government lockdowns, grounded airlines and decisions by several bar and coin producers to close down for safety reasons.

The U.S. Mint recently sold out of its popular Silver Eagle coin after sales soared by nearly 300 per cent in March. The Perth Mint in Australia, the country’s official supplier of coins and bars, said demand was so strong it no longer had any gold bars in stock and only a limited supply of gold and silver coins.

Last Friday, the Royal Canadian Mint suspended production of its coins and other products for at least two weeks because of the virus. In a statement, CEO Marie Lemay cautioned that while officials had a plan to resume “modified production” next month, they anticipated “a longer suspension of production and shipping for our numismatic collectable coins as we prioritise the support of trade and commerce.”

The Fed’s support of the corporate bond market had some multiplier effect:

  • The world’s biggest credit ETF took in $1.06 billion on Monday as traders rotated back into corporate bond bets, Bloomberg reported.
  • The iShares iBoxx $ Investment Grade Corporate Bond ETF ended the day up 7.4% after the Federal Reserve announced it will begin buying corporate bonds and credit ETFs amid the coronavirus’s hit to economic activity.
  • Monday’s inflows were the second-biggest in the ETF’s history, according to Bloomberg.
  • The influx of investor cash follows record retreats from investment-grade and high-yield debt funds in the week ended March 19, according to Bank of America.

TXPR closed at 441.57, up 8.13% on the day. Volume today was 4.14-million – and this enormous figure is well below the average of the past three weeks.

Today’s enormous gain, coupled with yesterday’s, means we have recouped all the lost ground since … um … March 16. The total return version of the index is now down only 24.86% on the month to date, so that’s pretty good, eh?

CPD closed at 8.74, up 7.90% on the day. Volume was 402,477, above average but nothing special in the context of the past 30 trading days.

ZPR closed at 6.92, up 9.84% on the day. Volume of 1,439,516 didn’t even make the top three of the past 30 trading days.

Five-year Canada yields were up 3bp to 0.79% today.

PerpetualDiscounts now yield 6.81%, equivalent to 8.85% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.87%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has narrowed dramatically to 500bp from the 570bp reported March 18. But we’re still way over the old record set on November 26, 2008 when trouble with the BCE buyout caused a short-lived spike in PerpetualDiscount bid yields, moving the Seniority Spread to 445bp.

I’m not reviewing suspect quotes today, as has been the case for the past while. I’m saving my sarcasm for less turbulent times.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 12.5685 % 1,381.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 12.5685 % 2,535.0
Floater 7.84 % 8.07 % 56,476 11.33 4 12.5685 % 1,460.9
OpRet 0.00 % 0.00 % 0 0.00 0 7.0730 % 3,056.3
SplitShare 5.43 % 8.16 % 78,747 3.96 7 7.0730 % 3,649.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 7.0730 % 2,847.8
Perpetual-Premium 7.29 % 7.53 % 107,205 11.81 12 4.6671 % 2,337.8
Perpetual-Discount 6.74 % 6.81 % 89,266 12.83 24 5.3204 % 2,597.6
FixedReset Disc 8.14 % 6.83 % 212,654 12.33 64 9.1957 % 1,480.0
Deemed-Retractible 6.49 % 7.25 % 101,515 12.28 27 8.8945 % 2,606.7
FloatingReset 6.24 % 6.16 % 64,057 13.68 3 15.0600 % 1,622.6
FixedReset Prem 6.82 % 6.78 % 204,508 12.75 22 5.6127 % 1,988.7
FixedReset Bank Non 2.02 % 6.28 % 129,140 1.79 3 1.2102 % 2,623.6
FixedReset Ins Non 8.36 % 7.36 % 118,294 11.65 22 6.6057 % 1,409.2
Performance Highlights
Issue Index Change Notes
IFC.PR.I Perpetual-Premium -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.63 %
EML.PR.A FixedReset Ins Non 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.19 %
PWF.PR.I Perpetual-Premium 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 7.29 %
PVS.PR.E SplitShare 1.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 22.53
Bid-YTW : 10.10 %
IFC.PR.F Deemed-Retractible 2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 7.25 %
RY.PR.M FixedReset Disc 2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 6.73 %
CIU.PR.A Perpetual-Discount 2.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 6.96 %
PVS.PR.D SplitShare 3.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 23.30
Bid-YTW : 9.56 %
BNS.PR.Z FixedReset Bank Non 3.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.25
Bid-YTW : 6.28 %
RY.PR.G Deemed-Retractible 3.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.05
Bid-YTW : 9.46 %
IAF.PR.I FixedReset Ins Non 3.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 7.60 %
RY.PR.O Perpetual-Discount 3.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.46 %
EMA.PR.H FixedReset Prem 3.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 5.82 %
RY.PR.E Deemed-Retractible 3.63 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.11
Bid-YTW : 9.31 %
RY.PR.J FixedReset Disc 3.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.19
Evaluated at bid price : 13.19
Bid-YTW : 6.48 %
BMO.PR.F FixedReset Disc 3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 6.81 %
SLF.PR.I FixedReset Ins Non 3.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.11
Evaluated at bid price : 11.11
Bid-YTW : 7.74 %
RY.PR.F Deemed-Retractible 3.96 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.10
Bid-YTW : 9.28 %
TD.PF.D FixedReset Disc 3.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 6.69 %
SLF.PR.H FixedReset Ins Non 4.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 9.60
Evaluated at bid price : 9.60
Bid-YTW : 7.36 %
RY.PR.C Deemed-Retractible 4.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.22
Bid-YTW : 9.14 %
RY.PR.A Deemed-Retractible 4.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.20
Bid-YTW : 9.03 %
MFC.PR.F FixedReset Ins Non 4.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 7.56
Evaluated at bid price : 7.56
Bid-YTW : 6.85 %
W.PR.M FixedReset Prem 4.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.20 %
MFC.PR.O FixedReset Ins Non 4.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.78 %
IFC.PR.E Deemed-Retractible 4.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.18 %
RY.PR.S FixedReset Disc 4.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 6.01 %
BNS.PR.E FixedReset Prem 4.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.87 %
BAM.PF.H FixedReset Prem 4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.88
Evaluated at bid price : 19.88
Bid-YTW : 6.33 %
RY.PR.N Perpetual-Discount 4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 6.33 %
CU.PR.C FixedReset Disc 4.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 5.92 %
NA.PR.C FixedReset Disc 4.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 7.46 %
TRP.PR.K FixedReset Prem 4.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 6.70 %
GWO.PR.N FixedReset Ins Non 4.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 9.00
Evaluated at bid price : 9.00
Bid-YTW : 5.42 %
PWF.PR.K Perpetual-Discount 4.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 7.48 %
GWO.PR.M Deemed-Retractible 4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 7.77 %
BNS.PR.G FixedReset Prem 4.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 6.71 %
MFC.PR.M FixedReset Ins Non 4.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 7.35 %
CU.PR.I FixedReset Prem 4.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.06 %
CU.PR.D Perpetual-Discount 4.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.71 %
MFC.PR.R FixedReset Ins Non 4.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.47
Evaluated at bid price : 14.47
Bid-YTW : 7.89 %
BNS.PR.H FixedReset Prem 4.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.84 %
IAF.PR.G FixedReset Ins Non 4.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.77
Evaluated at bid price : 11.77
Bid-YTW : 7.55 %
TD.PF.M FixedReset Disc 4.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.88
Evaluated at bid price : 16.88
Bid-YTW : 6.72 %
RY.PR.R FixedReset Prem 5.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.57 %
PWF.PR.T FixedReset Disc 5.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.27
Evaluated at bid price : 11.27
Bid-YTW : 7.55 %
BMO.PR.Z Perpetual-Discount 5.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.34 %
TD.PF.E FixedReset Disc 5.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.16
Evaluated at bid price : 13.16
Bid-YTW : 6.80 %
TD.PF.H FixedReset Prem 5.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.91
Evaluated at bid price : 17.91
Bid-YTW : 6.78 %
PWF.PR.L Perpetual-Discount 5.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.28
Evaluated at bid price : 17.28
Bid-YTW : 7.54 %
CM.PR.T FixedReset Disc 5.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 6.83 %
GWO.PR.F Deemed-Retractible 5.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.78
Evaluated at bid price : 19.78
Bid-YTW : 7.51 %
POW.PR.D Perpetual-Discount 5.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.63
Evaluated at bid price : 17.63
Bid-YTW : 7.27 %
PWF.PR.E Perpetual-Premium 5.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 7.66 %
EMA.PR.E Perpetual-Discount 5.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.06
Evaluated at bid price : 18.06
Bid-YTW : 6.32 %
PWF.PR.O Perpetual-Premium 5.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.02
Evaluated at bid price : 19.02
Bid-YTW : 7.79 %
BMO.PR.B FixedReset Prem 5.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.83 %
PWF.PR.Z Perpetual-Discount 5.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.43
Evaluated at bid price : 17.43
Bid-YTW : 7.55 %
CM.PR.Y FixedReset Disc 5.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.66
Evaluated at bid price : 16.66
Bid-YTW : 6.93 %
NA.PR.A FixedReset Prem 5.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 7.48 %
CM.PR.S FixedReset Disc 5.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.18
Evaluated at bid price : 12.18
Bid-YTW : 7.10 %
CU.PR.E Perpetual-Discount 5.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 6.64 %
GWO.PR.L Deemed-Retractible 5.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 7.75 %
TD.PF.F Perpetual-Discount 5.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.32 %
CM.PR.Q FixedReset Disc 5.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.41
Evaluated at bid price : 11.41
Bid-YTW : 7.68 %
BAM.PF.I FixedReset Prem 6.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.36 %
TD.PF.G FixedReset Prem 6.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.76 %
TD.PF.C FixedReset Disc 6.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.35
Evaluated at bid price : 12.35
Bid-YTW : 6.61 %
PVS.PR.F SplitShare 6.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 8.14 %
BAM.PF.A FixedReset Disc 6.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 7.72 %
PWF.PR.R Perpetual-Premium 6.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.60 %
MFC.PR.K FixedReset Ins Non 6.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.38
Evaluated at bid price : 11.38
Bid-YTW : 7.13 %
RY.PR.Z FixedReset Disc 6.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.32
Evaluated at bid price : 12.32
Bid-YTW : 6.31 %
PWF.PR.F Perpetual-Discount 6.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.68
Evaluated at bid price : 17.68
Bid-YTW : 7.59 %
NA.PR.E FixedReset Disc 6.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 7.21 %
NA.PR.X FixedReset Prem 6.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.21
Evaluated at bid price : 19.21
Bid-YTW : 7.33 %
CM.PR.O FixedReset Disc 6.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 7.20 %
NA.PR.G FixedReset Disc 6.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.11
Evaluated at bid price : 13.11
Bid-YTW : 7.36 %
TD.PF.J FixedReset Disc 6.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 6.58 %
W.PR.K FixedReset Prem 6.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.27 %
EIT.PR.B SplitShare 6.90 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 21.70
Bid-YTW : 8.16 %
BAM.PR.Z FixedReset Disc 6.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.62
Evaluated at bid price : 12.62
Bid-YTW : 7.59 %
BAM.PF.E FixedReset Disc 7.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 10.78
Evaluated at bid price : 10.78
Bid-YTW : 7.44 %
POW.PR.B Perpetual-Discount 7.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.47
Evaluated at bid price : 18.47
Bid-YTW : 7.42 %
RY.PR.Q FixedReset Prem 7.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.58 %
BAM.PF.J FixedReset Prem 7.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.29 %
BAM.PR.M Perpetual-Discount 7.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 6.81 %
IAF.PR.B Deemed-Retractible 7.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.66
Evaluated at bid price : 16.66
Bid-YTW : 6.95 %
POW.PR.A Perpetual-Premium 7.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 7.52 %
CU.PR.F Perpetual-Discount 7.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 6.49 %
BIP.PR.E FixedReset Disc 7.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.20 %
BMO.PR.E FixedReset Disc 7.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.11
Evaluated at bid price : 14.11
Bid-YTW : 6.61 %
CM.PR.R FixedReset Disc 7.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 7.40 %
TD.PF.I FixedReset Disc 7.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.81
Evaluated at bid price : 13.81
Bid-YTW : 7.01 %
MFC.PR.I FixedReset Ins Non 7.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.97
Evaluated at bid price : 11.97
Bid-YTW : 7.68 %
POW.PR.G Perpetual-Premium 7.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 7.66 %
MFC.PR.L FixedReset Ins Non 7.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 7.07 %
CM.PR.P FixedReset Disc 7.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.48
Evaluated at bid price : 11.48
Bid-YTW : 7.16 %
TD.PF.A FixedReset Disc 7.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 6.37 %
CU.PR.G Perpetual-Discount 7.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.72
Evaluated at bid price : 17.72
Bid-YTW : 6.43 %
BIP.PR.C FixedReset Prem 7.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 7.64 %
TRP.PR.G FixedReset Disc 7.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.24
Evaluated at bid price : 13.24
Bid-YTW : 6.90 %
BAM.PR.N Perpetual-Discount 8.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.83 %
PWF.PR.S Perpetual-Discount 8.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 7.36 %
PWF.PR.H Perpetual-Premium 8.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.63 %
NA.PR.S FixedReset Disc 8.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.60
Evaluated at bid price : 11.60
Bid-YTW : 7.26 %
GWO.PR.Q Deemed-Retractible 8.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.44
Evaluated at bid price : 17.44
Bid-YTW : 7.44 %
BAM.PF.C Perpetual-Discount 8.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.81
Evaluated at bid price : 17.81
Bid-YTW : 6.86 %
NA.PR.W FixedReset Disc 8.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.05 %
TD.PF.K FixedReset Disc 8.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.82
Evaluated at bid price : 13.82
Bid-YTW : 6.61 %
TD.PF.B FixedReset Disc 8.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.26
Evaluated at bid price : 12.26
Bid-YTW : 6.48 %
MFC.PR.N FixedReset Ins Non 8.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 10.84
Evaluated at bid price : 10.84
Bid-YTW : 6.82 %
BAM.PF.F FixedReset Disc 8.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.93
Evaluated at bid price : 11.93
Bid-YTW : 7.72 %
BAM.PF.D Perpetual-Discount 8.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 6.81 %
MFC.PR.G FixedReset Ins Non 8.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.84
Evaluated at bid price : 11.84
Bid-YTW : 7.62 %
MFC.PR.H FixedReset Ins Non 8.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.76 %
EIT.PR.A SplitShare 8.64 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 8.51 %
BIP.PR.A FixedReset Disc 8.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 8.10 %
GWO.PR.S Deemed-Retractible 8.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.83
Evaluated at bid price : 17.83
Bid-YTW : 7.42 %
PVS.PR.G SplitShare 8.96 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.50
Bid-YTW : 7.09 %
TD.PF.L FixedReset Disc 9.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 6.67 %
PWF.PR.G Perpetual-Premium 9.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 7.42 %
BIP.PR.B FixedReset Prem 9.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.51 %
IFC.PR.A FixedReset Ins Non 9.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 9.75
Evaluated at bid price : 9.75
Bid-YTW : 6.54 %
EMA.PR.F FixedReset Disc 9.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.89
Evaluated at bid price : 12.89
Bid-YTW : 7.02 %
GWO.PR.T Deemed-Retractible 9.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.52
Evaluated at bid price : 17.52
Bid-YTW : 7.40 %
BIP.PR.F FixedReset Disc 9.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.34 %
SLF.PR.G FixedReset Ins Non 9.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 7.92
Evaluated at bid price : 7.92
Bid-YTW : 6.48 %
BMO.PR.Y FixedReset Disc 9.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 6.72 %
EMA.PR.C FixedReset Disc 9.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.42
Evaluated at bid price : 13.42
Bid-YTW : 6.83 %
BNS.PR.I FixedReset Disc 9.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.25
Evaluated at bid price : 14.25
Bid-YTW : 6.26 %
RY.PR.H FixedReset Disc 9.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.62
Evaluated at bid price : 12.62
Bid-YTW : 6.22 %
BIP.PR.D FixedReset Disc 9.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 7.15 %
GWO.PR.R Deemed-Retractible 10.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 6.95 %
IFC.PR.C FixedReset Ins Non 10.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.76
Evaluated at bid price : 11.76
Bid-YTW : 7.05 %
BAM.PR.C Floater 10.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 7.51
Evaluated at bid price : 7.51
Bid-YTW : 8.09 %
POW.PR.C Perpetual-Premium 10.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.53 %
GWO.PR.P Deemed-Retractible 10.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 7.34 %
TRP.PR.B FixedReset Disc 10.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.28
Evaluated at bid price : 8.28
Bid-YTW : 5.80 %
BIK.PR.A FixedReset Prem 10.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 7.95 %
GWO.PR.H Deemed-Retractible 10.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 6.88 %
IFC.PR.G FixedReset Ins Non 10.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 6.87 %
TRP.PR.D FixedReset Disc 11.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 6.55 %
MFC.PR.Q FixedReset Ins Non 11.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 7.24 %
BAM.PR.B Floater 11.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 7.53
Evaluated at bid price : 7.53
Bid-YTW : 8.07 %
SLF.PR.J FloatingReset 11.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.00
Evaluated at bid price : 8.00
Bid-YTW : 6.02 %
MFC.PR.J FixedReset Ins Non 12.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.39
Evaluated at bid price : 12.39
Bid-YTW : 7.22 %
BAM.PR.K Floater 12.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 7.52
Evaluated at bid price : 7.52
Bid-YTW : 8.08 %
BMO.PR.W FixedReset Disc 12.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.35
Evaluated at bid price : 12.35
Bid-YTW : 6.45 %
BMO.PR.C FixedReset Disc 12.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 6.39 %
BMO.PR.T FixedReset Disc 13.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.91
Evaluated at bid price : 11.91
Bid-YTW : 6.56 %
TRP.PR.C FixedReset Disc 13.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.42
Evaluated at bid price : 8.42
Bid-YTW : 6.59 %
BAM.PF.B FixedReset Disc 13.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.47
Evaluated at bid price : 12.47
Bid-YTW : 7.22 %
PWF.PR.Q FloatingReset 13.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.00
Evaluated at bid price : 8.00
Bid-YTW : 6.71 %
TRP.PR.A FixedReset Disc 13.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 10.96
Evaluated at bid price : 10.96
Bid-YTW : 6.49 %
BAM.PF.G FixedReset Disc 14.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.77
Evaluated at bid price : 11.77
Bid-YTW : 7.43 %
BMO.PR.S FixedReset Disc 14.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.35
Evaluated at bid price : 12.35
Bid-YTW : 6.57 %
GWO.PR.G Deemed-Retractible 14.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.10 %
TRP.PR.E FixedReset Disc 14.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.22
Evaluated at bid price : 12.22
Bid-YTW : 6.71 %
BAM.PR.T FixedReset Disc 14.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 10.41
Evaluated at bid price : 10.41
Bid-YTW : 7.29 %
SLF.PR.A Deemed-Retractible 15.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.46 %
PVS.PR.H SplitShare 15.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.50
Bid-YTW : 6.60 %
SLF.PR.C Deemed-Retractible 15.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.04
Evaluated at bid price : 17.04
Bid-YTW : 6.57 %
BMO.PR.D FixedReset Disc 15.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.96
Evaluated at bid price : 14.96
Bid-YTW : 6.60 %
SLF.PR.E Deemed-Retractible 15.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 6.53 %
PWF.PR.A Floater 16.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.25
Evaluated at bid price : 8.25
Bid-YTW : 7.45 %
SLF.PR.B Deemed-Retractible 16.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.84
Evaluated at bid price : 18.84
Bid-YTW : 6.41 %
GWO.PR.I Deemed-Retractible 16.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.82 %
BAM.PR.R FixedReset Disc 17.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 10.23
Evaluated at bid price : 10.23
Bid-YTW : 7.23 %
BAM.PR.X FixedReset Disc 18.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 9.00
Evaluated at bid price : 9.00
Bid-YTW : 6.92 %
SLF.PR.D Deemed-Retractible 18.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.40 %
MFC.PR.B Deemed-Retractible 18.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 6.43 %
TRP.PR.F FloatingReset 19.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 6.16 %
MFC.PR.C Deemed-Retractible 20.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 6.60 %
HSE.PR.E FixedReset Disc 22.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 9.10
Evaluated at bid price : 9.10
Bid-YTW : 11.68 %
HSE.PR.A FixedReset Disc 22.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 5.84
Evaluated at bid price : 5.84
Bid-YTW : 10.23 %
HSE.PR.C FixedReset Disc 25.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.50
Evaluated at bid price : 8.50
Bid-YTW : 12.39 %
HSE.PR.G FixedReset Disc 26.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.56
Evaluated at bid price : 8.56
Bid-YTW : 12.28 %
PWF.PR.P FixedReset Disc 28.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 9.30
Evaluated at bid price : 9.30
Bid-YTW : 6.12 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.H FixedReset Disc 131,469 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.62
Evaluated at bid price : 12.62
Bid-YTW : 6.22 %
TD.PF.H FixedReset Prem 108,540 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 17.91
Evaluated at bid price : 17.91
Bid-YTW : 6.78 %
MFC.PR.B Deemed-Retractible 107,901 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 6.43 %
MFC.PR.O FixedReset Ins Non 82,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.78 %
NA.PR.S FixedReset Disc 58,712 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.60
Evaluated at bid price : 11.60
Bid-YTW : 7.26 %
TRP.PR.K FixedReset Prem 56,795 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 6.70 %
There were 84 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.H FixedReset Ins Non Quote: 12.50 – 16.83
Spot Rate : 4.3300
Average : 2.4458

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.76 %

PWF.PR.A Floater Quote: 8.25 – 12.85
Spot Rate : 4.6000
Average : 2.8125

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 8.25
Evaluated at bid price : 8.25
Bid-YTW : 7.45 %

CCS.PR.C Deemed-Retractible Quote: 18.01 – 23.00
Spot Rate : 4.9900
Average : 3.2977

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.99 %

IFC.PR.I Perpetual-Premium Quote: 18.00 – 22.00
Spot Rate : 4.0000
Average : 2.5790

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.63 %

MFC.PR.I FixedReset Ins Non Quote: 11.97 – 19.90
Spot Rate : 7.9300
Average : 6.5525

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 11.97
Evaluated at bid price : 11.97
Bid-YTW : 7.68 %

BMO.PR.D FixedReset Disc Quote: 14.96 – 17.80
Spot Rate : 2.8400
Average : 1.5787

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-25
Maturity Price : 14.96
Evaluated at bid price : 14.96
Bid-YTW : 6.60 %