Archive for the ‘Market Action’ Category

March 27, 2020

Friday, 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

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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 %

March 26, 2020

Thursday, 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 %

March 25, 2020

Wednesday, 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 %

March 24, 2020

Tuesday, March 24th, 2020
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Today the markets celebrated hopes of a great big bail-out:

Stocks soared on Tuesday on expectations that Congress was close to producing a stimulus bill to stabilize America’s faltering economy and offer lifelines to industries on the brink of collapse because of the coronavirus.

A plan to bail out companies and send checks of up to $1,200 to Americans had been stalled since Sunday over objections by Democrats. But on Tuesday, top Democrats and Trump administration officials said they were optimistic about finalizing an agreement on a roughly $2 trillion plan.

The S&P 500 had its biggest daily gain since 2008, rising more than 9 percent. Stocks in Europe climbed, led by Germany, where stocks rose more than 10 percent.

and in Canada …:

Canada’s main stock market rallied on Tuesday, rebounding from an eight-year low the day before, as hopes rose that global stimulus measures will ease the economic impact of the coronavirus pandemic.

The Toronto Stock Exchange’s S&P/TSX composite index surged 11.96%, or 1,342.59 points, to 12,571.08, after hitting its lowest intraday level since October 2011 at 11,172.73 on Monday. Since peaking in February, the index has tumbled about 30%. Tuesday’s percentage gain for the Canadian index was its biggest since July 1979, based on Refinitiv Eikon data.

Suncor Energy Inc. cut its 2020 production outlook and suspended share repurchases for the year following the decline in crude oil prices and due to the economic impact of the virus outbreak. Still, its shares rallied 13%.

The Canadian dollar was little changed at about 1.45 to the U.S. dollar, or 68.97 U.S. cents. The currency, which last Thursday hit a four-year low at 1.4669, traded in a range of 1.4375 to 1.4532.

Canadian government bond yields rose across the curve in sympathy with U.S. Treasuries. The 10-year was up 3.7 basis points at 0.855%.

As mentioned yesterday, the Fed has announced the Primary Market Corporate Credit Facility and the Secondary Market Corporate Support Facility. There are calls for the BoC to do the same:

The mad scramble for cash amid the coronavirus panic is putting enormous strain on the Canadian corporate bond market, which the country’s largest companies rely on for a steady source of financing.

While high-quality credit typically serves as a safe haven in the midst of an economic shock, corporate bonds have plummeted alongside stocks over the past few bewildering weeks.

The iShares Canadian Corporate Bond Index ETF (XCB) – the largest of its kind – fell by a staggering 23 per cent in just 11 trading days, before a market-wide bounce on Tuesday clawed back a portion of the fund’s losses.

To help restore order, the Bank of Canada may follow the U.S. Federal Reserve’s lead and intervene in the corporate credit market for the first time in its history.

“To draw a line and support investment-grade debt, that’s the kind of bold move that can inspire confidence. That will create some semblance of rationality,” Mr. Mamdani said.

Last week, the Bank of Canada opened that door, giving itself the authority to buy and sell corporate and municipal debt, “for purposes of addressing a situation of financial system stress that could have material macroeconomic consequences,” according to a regulatory notice from March 18.

But in the real world:

A source familiar with the data confirmed that the government received an estimated 929,000 Employment Insurance claims in the week of March 16-22 – a week in which a dramatic escalation of social-isolation requirements across the country forced many businesses to either sharply curtail their operations or shut down entirely.

Those EI filings represent roughly 5 per cent of all employees in the country – and imply that the national unemployment rate may have nearly doubled in just seven days.

The numbers of layoffs could surge again in the coming days, as the country’s two most populous provinces, Ontario and Quebec, will institute new rules requiring businesses deemed non-essential to close their doors as of midnight Tuesday night.

TXPR closed at 408.38, up 3.996% on the day. Volume today was 4.63-million – and this enormous figure is merely about average of the past two weeks.

CPD closed at 8.10, up 3.18% on the day. Volume of 325,281, above average but nothing special in the context of the past 30 trading days.

ZPR closed at 6.30, up 3.11% on the day. Volume of 500,507 was the lowest since March 6.

Five-year Canada yields were up 5bp to 0.76% today.

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.

Update, 1:47am: A deal has been reached on the US stimulus package:

The legislation, which is expected to be enacted within days, is the biggest economic stimulus package in modern American history, aimed at delivering critical financial support to businesses forced to shut their doors and relief to American families and hospitals reeling from the rapid spread of the disease and the resulting economic disruption.

Struck shortly before 1 a.m., it was the product of a marathon set of negotiations among Senate Republicans, Democrats and President Trump’s team that nearly fell apart as Democrats insisted upon stronger worker protections and oversight over a new $500 billion fund to bail out distressed businesses.

The deal was struck after a furious final round of haggling between Senator Mitch McConnell, Republican of Kentucky, Steven Mnuchin, the Treasury secretary, and Senator Chuck Schumer, Democrat of New York, after Democrats twice blocked action on the measure as they insisted on concessions.

S&P overnight Futures are down 1.12% as of 1:34am; we’ll see what the next few updates look like!

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 -0.2187 % 1,227.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2187 % 2,251.9
Floater 8.82 % 8.92 % 57,682 10.49 4 -0.2187 % 1,297.8
OpRet 0.00 % 0.00 % 0 0.00 0 7.4768 % 2,854.4
SplitShare 5.81 % 9.75 % 78,706 3.93 7 7.4768 % 3,408.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 7.4768 % 2,659.7
Perpetual-Premium 7.63 % 8.08 % 105,909 11.22 12 2.6740 % 2,233.6
Perpetual-Discount 7.10 % 7.15 % 88,006 12.35 24 1.9898 % 2,466.4
FixedReset Disc 8.89 % 7.54 % 209,786 11.48 64 3.4021 % 1,355.4
Deemed-Retractible 7.06 % 7.96 % 98,671 11.45 27 3.4948 % 2,393.8
FloatingReset 7.17 % 7.35 % 64,026 12.13 3 5.6312 % 1,410.2
FixedReset Prem 7.20 % 7.15 % 194,211 12.28 22 4.7575 % 1,883.0
FixedReset Bank Non 2.05 % 8.14 % 124,571 1.78 3 1.8638 % 2,592.2
FixedReset Ins Non 8.92 % 7.92 % 118,838 11.16 22 5.6474 % 1,321.9
Performance Highlights
Issue Index Change Notes
PWF.PR.P FixedReset Disc -6.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.22
Evaluated at bid price : 7.22
Bid-YTW : 7.91 %
TD.PF.I FixedReset Disc -2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.82
Evaluated at bid price : 12.82
Bid-YTW : 7.58 %
EMA.PR.E Perpetual-Discount -2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 6.67 %
BNS.PR.I FixedReset Disc -2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 6.92 %
BAM.PR.B Floater -2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 6.75
Evaluated at bid price : 6.75
Bid-YTW : 9.01 %
RY.PR.J FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.72
Evaluated at bid price : 12.72
Bid-YTW : 6.72 %
RY.PR.S FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 13.90
Evaluated at bid price : 13.90
Bid-YTW : 6.29 %
POW.PR.B Perpetual-Discount 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.23
Evaluated at bid price : 17.23
Bid-YTW : 7.97 %
PWF.PR.F Perpetual-Discount 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.58
Evaluated at bid price : 16.58
Bid-YTW : 8.10 %
BAM.PF.E FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.06
Evaluated at bid price : 10.06
Bid-YTW : 7.97 %
POW.PR.D Perpetual-Discount 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.72
Evaluated at bid price : 16.72
Bid-YTW : 7.67 %
MFC.PR.J FixedReset Ins Non 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.05
Evaluated at bid price : 11.05
Bid-YTW : 8.15 %
BIP.PR.D FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.03
Evaluated at bid price : 16.03
Bid-YTW : 7.86 %
PWF.PR.R Perpetual-Premium 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.41
Evaluated at bid price : 17.41
Bid-YTW : 8.08 %
PWF.PR.Z Perpetual-Discount 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.48
Evaluated at bid price : 16.48
Bid-YTW : 7.99 %
CIU.PR.A Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 7.15 %
POW.PR.G Perpetual-Premium 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 8.27 %
HSE.PR.C FixedReset Disc 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 6.80
Evaluated at bid price : 6.80
Bid-YTW : 15.78 %
CM.PR.Q FixedReset Disc 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.77
Evaluated at bid price : 10.77
Bid-YTW : 8.14 %
PWF.PR.T FixedReset Disc 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.72
Evaluated at bid price : 10.72
Bid-YTW : 7.97 %
RY.PR.C Deemed-Retractible 1.64 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.31
Bid-YTW : 11.49 %
ELF.PR.H Perpetual-Premium 1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 7.28 %
CU.PR.F Perpetual-Discount 1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 7.00 %
GWO.PR.G Deemed-Retractible 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.08
Evaluated at bid price : 16.08
Bid-YTW : 8.15 %
MFC.PR.B Deemed-Retractible 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 15.39
Evaluated at bid price : 15.39
Bid-YTW : 7.63 %
BNS.PR.G FixedReset Prem 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 7.02 %
EMA.PR.C FixedReset Disc 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 7.54 %
MFC.PR.C Deemed-Retractible 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 14.28
Evaluated at bid price : 14.28
Bid-YTW : 7.96 %
TD.PF.C FixedReset Disc 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.63
Evaluated at bid price : 11.63
Bid-YTW : 7.05 %
RY.PR.P Perpetual-Premium 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 20.51
Evaluated at bid price : 20.51
Bid-YTW : 6.49 %
PWF.PR.S Perpetual-Discount 2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 15.39
Evaluated at bid price : 15.39
Bid-YTW : 7.97 %
ELF.PR.G Perpetual-Discount 2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 7.26 %
BNS.PR.H FixedReset Prem 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.16
Evaluated at bid price : 17.16
Bid-YTW : 7.18 %
MFC.PR.O FixedReset Ins Non 2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.46
Evaluated at bid price : 17.46
Bid-YTW : 8.11 %
PWF.PR.A Floater 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.10
Evaluated at bid price : 7.10
Bid-YTW : 8.67 %
RY.PR.F Deemed-Retractible 2.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.22
Bid-YTW : 11.56 %
GWO.PR.F Deemed-Retractible 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.76
Evaluated at bid price : 18.76
Bid-YTW : 7.93 %
NA.PR.G FixedReset Disc 2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.27
Evaluated at bid price : 12.27
Bid-YTW : 7.91 %
RY.PR.A Deemed-Retractible 2.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.29
Bid-YTW : 11.37 %
PWF.PR.E Perpetual-Premium 2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 8.08 %
CM.PR.S FixedReset Disc 2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.51
Evaluated at bid price : 11.51
Bid-YTW : 7.54 %
TD.PF.H FixedReset Prem 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.15 %
BAM.PF.C Perpetual-Discount 2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.44
Evaluated at bid price : 16.44
Bid-YTW : 7.43 %
CU.PR.E Perpetual-Discount 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 7.04 %
MFC.PR.R FixedReset Ins Non 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 8.27 %
CU.PR.G Perpetual-Discount 2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.42
Evaluated at bid price : 16.42
Bid-YTW : 6.94 %
BMO.PR.S FixedReset Disc 2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.78
Evaluated at bid price : 10.78
Bid-YTW : 7.58 %
GWO.PR.H Deemed-Retractible 2.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.07
Evaluated at bid price : 16.07
Bid-YTW : 7.60 %
POW.PR.A Perpetual-Premium 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 8.10 %
TD.PF.G FixedReset Prem 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.18 %
PVS.PR.D SplitShare 2.73 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 22.61
Bid-YTW : 11.66 %
BAM.PF.A FixedReset Disc 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 8.24 %
RY.PR.Q FixedReset Prem 2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 7.06 %
PWF.PR.H Perpetual-Premium 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.78
Evaluated at bid price : 17.78
Bid-YTW : 8.27 %
TD.PF.K FixedReset Disc 2.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 7.21 %
CCS.PR.C Deemed-Retractible 2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.99 %
CM.PR.P FixedReset Disc 2.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.65
Evaluated at bid price : 10.65
Bid-YTW : 7.77 %
SLF.PR.B Deemed-Retractible 2.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.21
Evaluated at bid price : 16.21
Bid-YTW : 7.46 %
GWO.PR.S Deemed-Retractible 2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.37
Evaluated at bid price : 16.37
Bid-YTW : 8.08 %
RY.PR.E Deemed-Retractible 3.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.30
Bid-YTW : 11.40 %
MFC.PR.H FixedReset Ins Non 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.51
Evaluated at bid price : 11.51
Bid-YTW : 8.44 %
GWO.PR.I Deemed-Retractible 3.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 7.95 %
BMO.PR.T FixedReset Disc 3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.54
Evaluated at bid price : 10.54
Bid-YTW : 7.46 %
SLF.PR.I FixedReset Ins Non 3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.70
Evaluated at bid price : 10.70
Bid-YTW : 8.05 %
GWO.PR.L Deemed-Retractible 3.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.34
Evaluated at bid price : 17.34
Bid-YTW : 8.21 %
RY.PR.G Deemed-Retractible 3.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.30
Bid-YTW : 11.40 %
PWF.PR.K Perpetual-Discount 3.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.16
Evaluated at bid price : 16.16
Bid-YTW : 7.83 %
MFC.PR.F FixedReset Ins Non 3.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.26
Evaluated at bid price : 7.26
Bid-YTW : 7.13 %
TD.PF.B FixedReset Disc 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.31
Evaluated at bid price : 11.31
Bid-YTW : 7.06 %
IAF.PR.B Deemed-Retractible 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 15.51
Evaluated at bid price : 15.51
Bid-YTW : 7.47 %
BAM.PR.R FixedReset Disc 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 8.68
Evaluated at bid price : 8.68
Bid-YTW : 8.53 %
SLF.PR.C Deemed-Retractible 3.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 14.73
Evaluated at bid price : 14.73
Bid-YTW : 7.61 %
NA.PR.A FixedReset Prem 3.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.06
Evaluated at bid price : 17.06
Bid-YTW : 7.92 %
IFC.PR.G FixedReset Ins Non 3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 7.66 %
NA.PR.S FixedReset Disc 3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.71
Evaluated at bid price : 10.71
Bid-YTW : 7.91 %
PVS.PR.F SplitShare 3.50 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 20.71
Bid-YTW : 9.69 %
PWF.PR.O Perpetual-Premium 3.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 8.24 %
RY.PR.H FixedReset Disc 3.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 6.86 %
BAM.PF.D Perpetual-Discount 3.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 7.39 %
PWF.PR.L Perpetual-Discount 3.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 7.95 %
TD.PF.E FixedReset Disc 3.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.16 %
TD.PF.M FixedReset Disc 3.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.08
Evaluated at bid price : 16.08
Bid-YTW : 7.07 %
NA.PR.E FixedReset Disc 3.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.62
Evaluated at bid price : 11.62
Bid-YTW : 7.73 %
BMO.PR.W FixedReset Disc 3.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 7.30 %
BNS.PR.E FixedReset Prem 3.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 7.17 %
BAM.PR.N Perpetual-Discount 3.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.20
Evaluated at bid price : 16.20
Bid-YTW : 7.38 %
BAM.PR.M Perpetual-Discount 3.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 7.32 %
RY.PR.N Perpetual-Discount 3.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.61 %
POW.PR.C Perpetual-Premium 3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 8.31 %
MFC.PR.M FixedReset Ins Non 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.65
Evaluated at bid price : 10.65
Bid-YTW : 7.71 %
TD.PF.J FixedReset Disc 3.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 13.10
Evaluated at bid price : 13.10
Bid-YTW : 7.06 %
GWO.PR.P Deemed-Retractible 4.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.81
Evaluated at bid price : 16.81
Bid-YTW : 8.10 %
BIP.PR.C FixedReset Prem 4.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 8.25 %
IFC.PR.I Perpetual-Premium 4.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 7.32 %
SLF.PR.E Deemed-Retractible 4.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 14.96
Evaluated at bid price : 14.96
Bid-YTW : 7.58 %
W.PR.K FixedReset Prem 4.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.31
Evaluated at bid price : 17.31
Bid-YTW : 7.78 %
MFC.PR.I FixedReset Ins Non 4.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.11
Evaluated at bid price : 11.11
Bid-YTW : 8.30 %
NA.PR.X FixedReset Prem 4.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.83 %
PWF.PR.Q FloatingReset 4.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.04
Evaluated at bid price : 7.04
Bid-YTW : 7.65 %
CM.PR.Y FixedReset Disc 4.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.35 %
SLF.PR.A Deemed-Retractible 4.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.07
Evaluated at bid price : 16.07
Bid-YTW : 7.44 %
BAM.PF.B FixedReset Disc 4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 8.25 %
BIP.PR.F FixedReset Disc 4.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 8.03 %
IAF.PR.G FixedReset Ins Non 4.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.22
Evaluated at bid price : 11.22
Bid-YTW : 7.92 %
BIP.PR.E FixedReset Disc 4.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 7.75 %
SLF.PR.J FloatingReset 4.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.16
Evaluated at bid price : 7.16
Bid-YTW : 6.73 %
CM.PR.O FixedReset Disc 4.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.58
Evaluated at bid price : 10.58
Bid-YTW : 7.72 %
HSE.PR.E FixedReset Disc 4.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.44
Evaluated at bid price : 7.44
Bid-YTW : 14.32 %
BAM.PR.Z FixedReset Disc 4.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 8.14 %
BAM.PR.T FixedReset Disc 4.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 9.06
Evaluated at bid price : 9.06
Bid-YTW : 8.40 %
CU.PR.C FixedReset Disc 5.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 6.19 %
GWO.PR.M Deemed-Retractible 5.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.99
Evaluated at bid price : 17.99
Bid-YTW : 8.13 %
SLF.PR.D Deemed-Retractible 5.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 14.81
Evaluated at bid price : 14.81
Bid-YTW : 7.57 %
CU.PR.I FixedReset Prem 5.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.94
Evaluated at bid price : 17.94
Bid-YTW : 6.35 %
PWF.PR.G Perpetual-Premium 5.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 8.11 %
PVS.PR.E SplitShare 5.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 22.16
Bid-YTW : 10.80 %
W.PR.M FixedReset Prem 5.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.51 %
CM.PR.R FixedReset Disc 5.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 13.09
Evaluated at bid price : 13.09
Bid-YTW : 7.98 %
GWO.PR.Q Deemed-Retractible 5.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.10
Evaluated at bid price : 16.10
Bid-YTW : 8.06 %
BIP.PR.B FixedReset Prem 5.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 8.20 %
IFC.PR.F Deemed-Retractible 5.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.42 %
BAM.PF.I FixedReset Prem 5.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 6.74 %
EIT.PR.A SplitShare 5.74 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 20.25
Bid-YTW : 10.92 %
BAM.PF.H FixedReset Prem 5.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.60 %
BMO.PR.Q FixedReset Bank Non 5.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 9.07 %
BAM.PR.X FixedReset Disc 5.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.62
Evaluated at bid price : 7.62
Bid-YTW : 8.20 %
RY.PR.Z FixedReset Disc 6.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.56
Evaluated at bid price : 11.56
Bid-YTW : 6.74 %
TRP.PR.B FixedReset Disc 6.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.51
Evaluated at bid price : 7.51
Bid-YTW : 6.40 %
NA.PR.W FixedReset Disc 6.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.61
Evaluated at bid price : 10.61
Bid-YTW : 7.69 %
TRP.PR.C FixedReset Disc 6.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.45
Evaluated at bid price : 7.45
Bid-YTW : 7.46 %
EML.PR.A FixedReset Ins Non 6.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 8.29 %
EIT.PR.B SplitShare 6.84 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 20.30
Bid-YTW : 9.75 %
MFC.PR.K FixedReset Ins Non 6.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.70
Evaluated at bid price : 10.70
Bid-YTW : 7.62 %
RY.PR.R FixedReset Prem 6.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.90 %
CU.PR.H Perpetual-Discount 7.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.93 %
EMA.PR.H FixedReset Prem 7.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 6.03 %
TD.PF.L FixedReset Disc 7.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 7.31 %
GWO.PR.R Deemed-Retractible 7.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 15.81
Evaluated at bid price : 15.81
Bid-YTW : 7.65 %
BAM.PF.J FixedReset Prem 7.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.71
Evaluated at bid price : 17.71
Bid-YTW : 6.75 %
TRP.PR.E FixedReset Disc 7.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.64
Evaluated at bid price : 10.64
Bid-YTW : 7.77 %
BIK.PR.A FixedReset Prem 7.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.82
Evaluated at bid price : 16.82
Bid-YTW : 8.77 %
MFC.PR.G FixedReset Ins Non 7.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.91
Evaluated at bid price : 10.91
Bid-YTW : 8.29 %
TRP.PR.F FloatingReset 7.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 8.31
Evaluated at bid price : 8.31
Bid-YTW : 7.35 %
IFC.PR.C FixedReset Ins Non 7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.68
Evaluated at bid price : 10.68
Bid-YTW : 7.77 %
NA.PR.C FixedReset Disc 7.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 7.80 %
TRP.PR.J FixedReset Prem 7.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.84 %
TRP.PR.K FixedReset Prem 8.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.74
Evaluated at bid price : 17.74
Bid-YTW : 7.00 %
TD.PF.A FixedReset Disc 8.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 6.90 %
SLF.PR.H FixedReset Ins Non 8.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 9.23
Evaluated at bid price : 9.23
Bid-YTW : 7.65 %
MFC.PR.N FixedReset Ins Non 8.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 7.40 %
HSE.PR.A FixedReset Disc 8.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 4.77
Evaluated at bid price : 4.77
Bid-YTW : 12.55 %
CM.PR.T FixedReset Disc 8.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 15.18
Evaluated at bid price : 15.18
Bid-YTW : 7.22 %
TRP.PR.G FixedReset Disc 9.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.26
Evaluated at bid price : 12.26
Bid-YTW : 7.46 %
IFC.PR.E Deemed-Retractible 9.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.48 %
MFC.PR.Q FixedReset Ins Non 10.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 8.13 %
TRP.PR.D FixedReset Disc 10.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.38
Evaluated at bid price : 11.38
Bid-YTW : 7.32 %
IFC.PR.A FixedReset Ins Non 11.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 8.93
Evaluated at bid price : 8.93
Bid-YTW : 7.17 %
MFC.PR.L FixedReset Ins Non 11.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.16
Evaluated at bid price : 10.16
Bid-YTW : 7.66 %
SLF.PR.G FixedReset Ins Non 13.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 7.24
Evaluated at bid price : 7.24
Bid-YTW : 7.10 %
GWO.PR.N FixedReset Ins Non 13.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 8.61
Evaluated at bid price : 8.61
Bid-YTW : 5.66 %
BIP.PR.A FixedReset Disc 14.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 8.81 %
TRP.PR.A FixedReset Disc 15.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 9.64
Evaluated at bid price : 9.64
Bid-YTW : 7.43 %
PVS.PR.G SplitShare 35.41 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 20.65
Bid-YTW : 8.83 %
Volume Highlights
Issue Index Shares
Traded
Notes
SLF.PR.B Deemed-Retractible 527,750 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 16.21
Evaluated at bid price : 16.21
Bid-YTW : 7.46 %
TD.PF.A FixedReset Disc 431,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 6.90 %
TD.PF.H FixedReset Prem 169,358 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.15 %
TD.PF.K FixedReset Disc 54,905 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 7.21 %
MFC.PR.O FixedReset Ins Non 45,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.46
Evaluated at bid price : 17.46
Bid-YTW : 8.11 %
TRP.PR.J FixedReset Prem 36,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.84 %
There were 93 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.I FixedReset Ins Non Quote: 11.11 – 19.90
Spot Rate : 8.7900
Average : 5.0421

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 11.11
Evaluated at bid price : 11.11
Bid-YTW : 8.30 %

PWF.PR.T FixedReset Disc Quote: 10.72 – 17.75
Spot Rate : 7.0300
Average : 4.0528

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.72
Evaluated at bid price : 10.72
Bid-YTW : 7.97 %

NA.PR.A FixedReset Prem Quote: 17.06 – 23.90
Spot Rate : 6.8400
Average : 3.9887

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 17.06
Evaluated at bid price : 17.06
Bid-YTW : 7.92 %

MFC.PR.G FixedReset Ins Non Quote: 10.91 – 18.18
Spot Rate : 7.2700
Average : 4.5998

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.91
Evaluated at bid price : 10.91
Bid-YTW : 8.29 %

MFC.PR.N FixedReset Ins Non Quote: 10.00 – 15.88
Spot Rate : 5.8800
Average : 3.3816

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 7.40 %

CM.PR.Q FixedReset Disc Quote: 10.77 – 15.00
Spot Rate : 4.2300
Average : 2.5856

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-24
Maturity Price : 10.77
Evaluated at bid price : 10.77
Bid-YTW : 8.14 %

March 23, 2020

Monday, March 23rd, 2020
mushroomcloud_200323_1 coronavirus_200323_1
quarantine_200323 mushroomcloud_200323_2
(Original Caption) An awesome mushroom cloud rises as an atomic bomb is exploded off Bikini Atoll in the Marshall Islands in 1946. coronavirus_200323_2
mushroomcloud_200323_4

American banks are issuing dire warnings:

  • Goldman Sachs economists on Friday forecast an unprecedented 24% hit to U.S. second-quarter GDP, following a 6% decline in the first-quarter, due to coronavirus; the bank also expects unemployment to surge to 9% and full-year GDP for 2020 to fall 3.8% on an annual average basis.
  • Bank of America warned late on Thursday that a recession due to the coronavirus pandemic is already here: “Jobs will be lost, wealth will be destroyed and confidence depressed,” the bank’s U.S. economist, Michelle Meyer, wrote in a note, as the Bank of America also forecast the economy to “collapse” in the second quarter, shrinking by 12%, with GDP for 2020 taking a 0.8% hit.
  • Morgan Stanley warned investors of the same thing: “Global recession in 2020 is now our base case,” the firm’s chief economist, Chetan Ahya, wrote in a recent note, predicting global economic growth to slow to 0.9% this year—the lowest level seen since the 2008 crisis.
    Deutsche Bank predicts that the U.S. economy will contract by 12.9% in the second quarter, with the coronavirus-driven declines set to “substantially exceed anything previously recorded going back to at least World War II,” according to a note Wednesday.
  • UBS similarly sees a “massive contraction” of almost 10% in second-quarter GDP, while also predicting a deep recession in the first half of 2020 due to the coronavirus pandemic.
  • But: Most of the economists at the big banks listed above still predict the economy will rebound later in 2020, or by 2021 at the latest.

And pension plans are looking sick again:

Canadian pension plans have seen their funding crater in recent weeks amid falling interest rates and a meltdown in stock markets, leaving some with shortfalls just weeks after being fully funded.

Consulting firm Mercer Canada Ltd. said its pension health index closed 2019 at 112 per cent — a reading that suggests the plans were over-funded, with more assets than obligations — up 10 percentage points over the course of the year. It was 103 per cent on Feb. 29, but had fallen to 89 per cent on Monday, March 16.

Aon PLC said its measure of pension solvency in Canada, which approached record highs in the fourth quarter of 2019, declined from 102.5 per cent on Jan. 2 to 95.8 per cent on Feb. 28, then to 90.6 by Friday, March 13.

So the Fed is ramping up its efforts:

The Fed pledged to buy as much government-backed debt as needed to restore normal functioning in the markets for housing and Treasury bonds. It announced that it would buy longer-dated corporate debt, including the riskiest investment-grade bonds, for the first time in its history. And it promised to unveil more — including supports for small businesses — in the days and weeks to come.

The central bank, which restarted its massive bond-buying program eight days ago, said it would expand well beyond the “at least” $700 billion in Treasury and $200 billion in mortgage-backed securities it initially committed to buying. Instead, officials will buy bonds “in the amounts needed to support smooth market functioning” — including buying government-backed debt tied to commercial real estate.

One of them, the Primary Market Corporate Credit Facility, is open to investment-grade companies and will provide bridge financing of four years, according to the Fed’s release. The Fed will create a special purpose vehicle that will both purchase bonds from eligible issuers and extend loans.

The other program, the Secondary Market Corporate Support Facility, will purchase already-issued debt, which has become hard to trade, including by buying exchange-traded funds that bundle bonds together. The Fed said that together the programs were intended “to support credit to large employers.”

The markets were unimpressed:

The Toronto Stock Exchange’s S&P/TSX Composite index was unofficially down 623.32 points, or 5.26%, at 11,228.49.

The Canadian death toll from the virus outbreak jumped by more than 50% on Sunday, and impatient officials threatened to punish people refusing to take precautions to fight the spread of the highly contagious illness.

Nine of the index’s 11 major sectors fell.

The energy sector dropped 3.8% as crude prices fell.

The financials sector slipped 7.9%. The industrials sector fell 3.7%.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 5.4% as gold prices rose.

Based on the latest available data, the Dow Jones Industrial Average fell 575.58 points, or 3%, to 18,598.4, the S&P 500 lost 65.55 points, or 2.84%, to 2,239.37 and the Nasdaq Composite dropped 16.37 points, or 0.24%, to 6,863.14.

The Dow at one point traded below its closing level on Nov. 8, 2016, effectively erasing all the gains since the election of Donald Trump as U.S. president.

The pan-European STOXX 600 index lost 4.30% and MSCI’s gauge of stocks across the globe shed 3.81%.

Emerging market stocks lost 5.61%. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 5.75% lower, while Japan’s Nikkei rose 2.02%.

Which might well have been considered good news in some quarters:

Brookfield Asset Management Inc. chief executive officer Bruce Flatt says his company is moving away from private assets and buying publicly traded debt and stocks – including its own – in the recent market carnage.

“We have switched our focus for investments to the listed stock markets. … There are some stocks and debt starting to trade at a large discount to intrinsic value and we are focused on these,” Mr. Flatt said in a shareholder letter released Monday.

But there is bad news in other quarters:

Consensus continues to grow among government leaders and health officials that the best way to defeat the virus is to order nonessential businesses to close and residents to confine themselves at home. Britain, after initially resisting such measures, essentially locked down its economy on Monday, as did the governors of Virginia, Michigan and Oregon. More than 100 million Americans will soon be subject to stay-at-home orders.

Relaxing those restrictions could significantly increase the death toll from the virus, public health officials warn. Many economists say there is no positive trade-off — resuming normal activity prematurely would only strain hospitals and result in even more deaths, while exacerbating a recession that has most likely already arrived.

Officials have said the federal government’s initial 15-day period for social distancing is vital to slowing the spread of the virus, which has already infected more than 40,000 people in the United States. But Mr. Trump and a chorus of conservative voices have begun to suggest that the shock to the economy could hurt the country more than deaths from the virus.

On Monday, Mr. Trump said his administration would reassess whether to keep the economy shuttered after the initial 15-day period ends next Monday, saying it could extend another week and that certain parts of the country could reopen sooner than others, depending on the extent of infections.

“Our country wasn’t built to be shut down,” Mr. Trump said during a briefing at the White House. “America will, again, and soon, be open for business. Very soon. A lot sooner than three or four months that somebody was suggesting. Lot sooner. We cannot let the cure be worse than the problem itself.”

TXPR closed at 392.69, down 7.77% on the day. Volume today was 4.57-million – and this enormous figure was the lowest of the past five trading days.

CPD closed at 7.85, down 8.40% on the day. Volume of 546,111 was third-highest of the past 30 trading days, trailing March 13 and March 16.

ZPR closed at 6.11, down 6.72% on the day. Volume of 1,706,900 was third-highest of the past 30 trading days, behind March 20 and March 9.

Five-year Canada yields were down 4bp to 0.71% today.

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 -2.6269 % 1,229.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -2.6269 % 2,256.9
Floater 8.80 % 8.86 % 58,744 10.50 4 -2.6269 % 1,300.7
OpRet 0.00 % 0.00 % 0 0.00 0 -11.3876 % 2,655.8
SplitShare 6.25 % 12.56 % 73,614 3.91 7 -11.3876 % 3,171.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -11.3876 % 2,474.6
Perpetual-Premium 7.83 % 8.28 % 107,194 11.03 12 -7.3190 % 2,175.4
Perpetual-Discount 7.24 % 7.41 % 90,425 12.03 24 -6.8548 % 2,418.3
FixedReset Disc 9.20 % 7.80 % 213,431 11.16 64 -7.2601 % 1,310.8
Deemed-Retractible 7.31 % 8.20 % 96,493 11.23 27 -8.5829 % 2,313.0
FloatingReset 7.58 % 7.93 % 64,194 11.49 3 -12.1237 % 1,335.1
FixedReset Prem 7.54 % 7.38 % 194,954 12.06 22 -9.3620 % 1,797.5
FixedReset Bank Non 2.09 % 8.12 % 125,348 1.78 3 -3.1552 % 2,544.8
FixedReset Ins Non 9.42 % 8.28 % 120,655 10.82 22 -9.9126 % 1,251.2
Performance Highlights
Issue Index Change Notes
PVS.PR.G SplitShare -27.38 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 15.25
Bid-YTW : 15.27 %
GWO.PR.N FixedReset Ins Non -21.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.61
Evaluated at bid price : 7.61
Bid-YTW : 6.41 %
SLF.PR.G FixedReset Ins Non -17.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.40
Evaluated at bid price : 6.40
Bid-YTW : 8.03 %
RY.PR.R FixedReset Prem -15.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 7.38 %
IFC.PR.A FixedReset Ins Non -15.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 8.03
Evaluated at bid price : 8.03
Bid-YTW : 8.03 %
EIT.PR.A SplitShare -15.08 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 19.15
Bid-YTW : 12.56 %
CU.PR.I FixedReset Prem -15.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.03
Evaluated at bid price : 17.03
Bid-YTW : 6.69 %
IFC.PR.E Deemed-Retractible -14.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.92
Evaluated at bid price : 15.92
Bid-YTW : 8.23 %
MFC.PR.Q FixedReset Ins Non -14.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 9.01 %
BAM.PR.X FixedReset Disc -14.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.20
Evaluated at bid price : 7.20
Bid-YTW : 8.69 %
PWF.PR.Q FloatingReset -14.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.75
Evaluated at bid price : 6.75
Bid-YTW : 7.98 %
BNS.PR.E FixedReset Prem -14.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.73
Evaluated at bid price : 17.73
Bid-YTW : 7.45 %
EIT.PR.B SplitShare -13.64 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 11.34 %
TRP.PR.A FixedReset Disc -13.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 8.38
Evaluated at bid price : 8.38
Bid-YTW : 8.64 %
PWF.PR.G Perpetual-Premium -13.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.64
Evaluated at bid price : 17.64
Bid-YTW : 8.56 %
BIK.PR.A FixedReset Prem -13.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.65
Evaluated at bid price : 15.65
Bid-YTW : 9.43 %
MFC.PR.N FixedReset Ins Non -12.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 9.23
Evaluated at bid price : 9.23
Bid-YTW : 8.02 %
POW.PR.C Perpetual-Premium -12.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.64 %
IFC.PR.G FixedReset Ins Non -12.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.36
Evaluated at bid price : 11.36
Bid-YTW : 7.94 %
TD.PF.L FixedReset Disc -12.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 13.91
Evaluated at bid price : 13.91
Bid-YTW : 7.87 %
BAM.PF.A FixedReset Disc -12.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.68
Evaluated at bid price : 11.68
Bid-YTW : 8.48 %
MFC.PR.L FixedReset Ins Non -12.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 9.10
Evaluated at bid price : 9.10
Bid-YTW : 8.61 %
GWO.PR.Q Deemed-Retractible -12.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.25
Evaluated at bid price : 15.25
Bid-YTW : 8.51 %
SLF.PR.H FixedReset Ins Non -12.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 8.52
Evaluated at bid price : 8.52
Bid-YTW : 8.30 %
GWO.PR.R Deemed-Retractible -12.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 8.20 %
BAM.PF.B FixedReset Disc -11.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.54
Evaluated at bid price : 10.54
Bid-YTW : 8.63 %
GWO.PR.S Deemed-Retractible -11.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.90
Evaluated at bid price : 15.90
Bid-YTW : 8.32 %
SLF.PR.J FloatingReset -11.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.85
Evaluated at bid price : 6.85
Bid-YTW : 7.04 %
TD.PF.E FixedReset Disc -11.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.05
Evaluated at bid price : 12.05
Bid-YTW : 7.43 %
GWO.PR.M Deemed-Retractible -11.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.09
Evaluated at bid price : 17.09
Bid-YTW : 8.56 %
MFC.PR.C Deemed-Retractible -11.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 8.12 %
MFC.PR.B Deemed-Retractible -11.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.10
Evaluated at bid price : 15.10
Bid-YTW : 7.78 %
CU.PR.G Perpetual-Discount -11.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 7.13 %
CM.PR.T FixedReset Disc -11.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 7.87 %
BAM.PF.G FixedReset Disc -11.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.29
Evaluated at bid price : 10.29
Bid-YTW : 8.50 %
CU.PR.F Perpetual-Discount -10.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 7.13 %
PWF.PR.P FixedReset Disc -10.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.70
Evaluated at bid price : 7.70
Bid-YTW : 7.41 %
IFC.PR.C FixedReset Ins Non -10.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 8.39 %
SLF.PR.D Deemed-Retractible -10.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 14.06
Evaluated at bid price : 14.06
Bid-YTW : 7.97 %
BAM.PR.Z FixedReset Disc -10.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 8.55 %
NA.PR.A FixedReset Prem -10.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 8.19 %
RY.PR.Q FixedReset Prem -10.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 7.26 %
TRP.PR.F FloatingReset -10.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.71
Evaluated at bid price : 7.71
Bid-YTW : 7.93 %
GWO.PR.P Deemed-Retractible -10.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 8.43 %
CU.PR.D Perpetual-Discount -10.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.09 %
TD.PF.K FixedReset Disc -10.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 7.43 %
NA.PR.X FixedReset Prem -10.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 8.17 %
BAM.PR.T FixedReset Disc -10.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 8.63
Evaluated at bid price : 8.63
Bid-YTW : 8.83 %
MFC.PR.K FixedReset Ins Non -9.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.01
Evaluated at bid price : 10.01
Bid-YTW : 8.19 %
MFC.PR.G FixedReset Ins Non -9.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.15
Evaluated at bid price : 10.15
Bid-YTW : 8.92 %
IFC.PR.F Deemed-Retractible -9.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.03
Evaluated at bid price : 17.03
Bid-YTW : 7.84 %
PWF.PR.H Perpetual-Premium -9.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 8.51 %
RY.PR.N Perpetual-Discount -9.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.87 %
BAM.PF.J FixedReset Prem -9.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 7.24 %
HSE.PR.G FixedReset Disc -9.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.79
Evaluated at bid price : 6.79
Bid-YTW : 15.52 %
TRP.PR.G FixedReset Disc -9.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 8.17 %
CM.PR.R FixedReset Disc -9.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 8.44 %
EMA.PR.H FixedReset Prem -9.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.46 %
EML.PR.A FixedReset Ins Non -9.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 8.84 %
TRP.PR.C FixedReset Disc -9.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.00
Evaluated at bid price : 7.00
Bid-YTW : 7.94 %
BMO.PR.D FixedReset Disc -9.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.84
Evaluated at bid price : 12.84
Bid-YTW : 7.73 %
PWF.PR.O Perpetual-Premium -9.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.39
Evaluated at bid price : 17.39
Bid-YTW : 8.54 %
TD.PF.I FixedReset Disc -9.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 13.17
Evaluated at bid price : 13.17
Bid-YTW : 7.37 %
CU.PR.H Perpetual-Discount -9.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.94
Evaluated at bid price : 17.94
Bid-YTW : 7.42 %
TD.PF.G FixedReset Prem -9.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 7.38 %
TD.PF.J FixedReset Disc -9.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 7.36 %
GWO.PR.I Deemed-Retractible -9.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 13.83
Evaluated at bid price : 13.83
Bid-YTW : 8.20 %
IAF.PR.G FixedReset Ins Non -8.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 8.27 %
BAM.PF.I FixedReset Prem -8.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.95
Evaluated at bid price : 16.95
Bid-YTW : 7.13 %
MFC.PR.I FixedReset Ins Non -8.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.66
Evaluated at bid price : 10.66
Bid-YTW : 8.66 %
MFC.PR.J FixedReset Ins Non -8.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.90
Evaluated at bid price : 10.90
Bid-YTW : 8.27 %
PVS.PR.E SplitShare -8.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 21.00
Bid-YTW : 13.14 %
BNS.PR.G FixedReset Prem -8.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 19.12
Evaluated at bid price : 19.12
Bid-YTW : 7.16 %
TRP.PR.K FixedReset Prem -8.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.42
Evaluated at bid price : 16.42
Bid-YTW : 7.57 %
CM.PR.P FixedReset Disc -8.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.35
Evaluated at bid price : 10.35
Bid-YTW : 8.01 %
HSE.PR.E FixedReset Disc -8.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.10
Evaluated at bid price : 7.10
Bid-YTW : 15.01 %
IAF.PR.B Deemed-Retractible -8.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.01
Evaluated at bid price : 15.01
Bid-YTW : 7.72 %
BAM.PF.F FixedReset Disc -8.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 8.40 %
CM.PR.S FixedReset Disc -8.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.24
Evaluated at bid price : 11.24
Bid-YTW : 7.74 %
BNS.PR.H FixedReset Prem -8.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.81
Evaluated at bid price : 16.81
Bid-YTW : 7.33 %
GWO.PR.F Deemed-Retractible -8.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 8.10 %
CM.PR.O FixedReset Disc -8.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.10
Evaluated at bid price : 10.10
Bid-YTW : 8.11 %
SLF.PR.C Deemed-Retractible -8.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 14.25
Evaluated at bid price : 14.25
Bid-YTW : 7.87 %
SLF.PR.E Deemed-Retractible -7.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 14.36
Evaluated at bid price : 14.36
Bid-YTW : 7.89 %
SLF.PR.I FixedReset Ins Non -7.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.37
Evaluated at bid price : 10.37
Bid-YTW : 8.30 %
PWF.PR.T FixedReset Disc -7.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.55
Evaluated at bid price : 10.55
Bid-YTW : 8.11 %
RY.PR.O Perpetual-Discount -7.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.74 %
TD.PF.F Perpetual-Discount -7.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.75 %
CM.PR.Y FixedReset Disc -7.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.10
Evaluated at bid price : 15.10
Bid-YTW : 7.69 %
MFC.PR.H FixedReset Ins Non -7.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.17
Evaluated at bid price : 11.17
Bid-YTW : 8.70 %
CU.PR.E Perpetual-Discount -7.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.21
Evaluated at bid price : 17.21
Bid-YTW : 7.22 %
PWF.PR.S Perpetual-Discount -7.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.08
Evaluated at bid price : 15.08
Bid-YTW : 8.14 %
GWO.PR.G Deemed-Retractible -7.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.78
Evaluated at bid price : 15.78
Bid-YTW : 8.31 %
SLF.PR.B Deemed-Retractible -7.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.68 %
GWO.PR.T Deemed-Retractible -7.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 8.11 %
BAM.PF.E FixedReset Disc -7.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 9.95
Evaluated at bid price : 9.95
Bid-YTW : 8.06 %
GWO.PR.L Deemed-Retractible -7.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 8.48 %
BAM.PR.R FixedReset Disc -7.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 8.40
Evaluated at bid price : 8.40
Bid-YTW : 8.82 %
TRP.PR.J FixedReset Prem -7.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.89
Evaluated at bid price : 18.89
Bid-YTW : 7.39 %
NA.PR.W FixedReset Disc -7.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 9.97
Evaluated at bid price : 9.97
Bid-YTW : 8.22 %
NA.PR.E FixedReset Disc -7.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 8.04 %
BMO.PR.S FixedReset Disc -7.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 7.80 %
TRP.PR.B FixedReset Disc -6.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.06
Evaluated at bid price : 7.06
Bid-YTW : 6.81 %
BAM.PF.H FixedReset Prem -6.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.99 %
TD.PF.B FixedReset Disc -6.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 7.30 %
RY.PR.E Deemed-Retractible -6.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.65
Bid-YTW : 13.15 %
PWF.PR.E Perpetual-Premium -6.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 8.28 %
SLF.PR.A Deemed-Retractible -6.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 7.77 %
PWF.PR.L Perpetual-Discount -6.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.81
Evaluated at bid price : 15.81
Bid-YTW : 8.25 %
TD.PF.A FixedReset Disc -6.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.62
Evaluated at bid price : 10.62
Bid-YTW : 7.50 %
BMO.PR.T FixedReset Disc -6.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.22
Evaluated at bid price : 10.22
Bid-YTW : 7.71 %
EMA.PR.E Perpetual-Discount -6.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.52 %
RY.PR.G Deemed-Retractible -6.66 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.60
Bid-YTW : 13.29 %
BMO.PR.Q FixedReset Bank Non -6.65 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.79
Bid-YTW : 12.32 %
BMO.PR.Y FixedReset Disc -6.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 7.36 %
TD.PF.M FixedReset Disc -6.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 7.35 %
PWF.PR.K Perpetual-Discount -6.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.65
Evaluated at bid price : 15.65
Bid-YTW : 8.09 %
PWF.PR.F Perpetual-Discount -6.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 8.19 %
BMO.PR.B FixedReset Prem -6.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 7.23 %
PWF.PR.R Perpetual-Premium -6.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.17
Evaluated at bid price : 17.17
Bid-YTW : 8.19 %
BIP.PR.F FixedReset Disc -6.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.33
Evaluated at bid price : 15.33
Bid-YTW : 8.39 %
RY.PR.A Deemed-Retractible -6.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.78
Bid-YTW : 12.73 %
RY.PR.P Perpetual-Premium -6.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 6.62 %
TD.PF.H FixedReset Prem -6.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 7.32 %
BIP.PR.B FixedReset Prem -6.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 8.67 %
RY.PR.C Deemed-Retractible -6.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.95
Bid-YTW : 12.44 %
MFC.PR.M FixedReset Ins Non -6.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.25
Evaluated at bid price : 10.25
Bid-YTW : 8.03 %
PVS.PR.D SplitShare -6.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 22.01
Bid-YTW : 13.55 %
PWF.PR.Z Perpetual-Discount -6.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 8.10 %
RY.PR.F Deemed-Retractible -6.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.75
Bid-YTW : 12.81 %
BIP.PR.D FixedReset Disc -6.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.81
Evaluated at bid price : 15.81
Bid-YTW : 7.97 %
RY.PR.M FixedReset Disc -6.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 6.89 %
W.PR.K FixedReset Prem -6.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 8.11 %
BIP.PR.C FixedReset Prem -5.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.70
Evaluated at bid price : 15.70
Bid-YTW : 8.59 %
NA.PR.C FixedReset Disc -5.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.51
Evaluated at bid price : 12.51
Bid-YTW : 8.44 %
BMO.PR.C FixedReset Disc -5.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 14.18
Evaluated at bid price : 14.18
Bid-YTW : 7.23 %
BAM.PF.C Perpetual-Discount -5.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.05
Evaluated at bid price : 16.05
Bid-YTW : 7.61 %
BAM.PF.D Perpetual-Discount -5.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.11
Evaluated at bid price : 16.11
Bid-YTW : 7.66 %
BAM.PR.K Floater -5.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.76
Evaluated at bid price : 6.76
Bid-YTW : 9.00 %
TRP.PR.E FixedReset Disc -5.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 8.39 %
BAM.PR.M Perpetual-Discount -5.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.60 %
MFC.PR.R FixedReset Ins Non -5.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 13.45
Evaluated at bid price : 13.45
Bid-YTW : 8.49 %
BNS.PR.I FixedReset Disc -5.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 6.75 %
RY.PR.Z FixedReset Disc -5.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.87
Evaluated at bid price : 10.87
Bid-YTW : 7.20 %
EMA.PR.F FixedReset Disc -5.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.71 %
RY.PR.J FixedReset Disc -5.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.98
Evaluated at bid price : 12.98
Bid-YTW : 6.58 %
POW.PR.B Perpetual-Discount -5.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 8.05 %
MFC.PR.O FixedReset Ins Non -5.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 8.28 %
NA.PR.G FixedReset Disc -5.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 8.10 %
W.PR.M FixedReset Prem -5.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.82
Evaluated at bid price : 16.82
Bid-YTW : 7.93 %
BMO.PR.E FixedReset Disc -5.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 7.21 %
BMO.PR.W FixedReset Disc -5.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 7.60 %
POW.PR.G Perpetual-Premium -5.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 8.39 %
IFC.PR.I Perpetual-Premium -5.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.63 %
MFC.PR.F FixedReset Ins Non -5.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 7.03
Evaluated at bid price : 7.03
Bid-YTW : 7.37 %
BMO.PR.Z Perpetual-Discount -5.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.65 %
EMA.PR.C FixedReset Disc -5.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 7.70 %
BIP.PR.E FixedReset Disc -4.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.55
Evaluated at bid price : 15.55
Bid-YTW : 8.10 %
TD.PF.D FixedReset Disc -4.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 6.98 %
POW.PR.A Perpetual-Premium -4.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.28
Evaluated at bid price : 17.28
Bid-YTW : 8.32 %
GWO.PR.H Deemed-Retractible -4.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.65
Evaluated at bid price : 15.65
Bid-YTW : 7.81 %
PVS.PR.H SplitShare -4.62 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 19.60
Bid-YTW : 9.05 %
NA.PR.S FixedReset Disc -4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.35
Evaluated at bid price : 10.35
Bid-YTW : 8.20 %
ELF.PR.G Perpetual-Discount -4.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.41
Evaluated at bid price : 16.41
Bid-YTW : 7.41 %
HSE.PR.A FixedReset Disc -4.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 4.40
Evaluated at bid price : 4.40
Bid-YTW : 13.61 %
HSE.PR.C FixedReset Disc -4.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.70
Evaluated at bid price : 6.70
Bid-YTW : 16.03 %
TD.PF.C FixedReset Disc -4.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 7.20 %
PVS.PR.F SplitShare -4.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 20.01
Bid-YTW : 10.59 %
RY.PR.W Perpetual-Discount -4.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 20.08
Evaluated at bid price : 20.08
Bid-YTW : 6.18 %
TRP.PR.D FixedReset Disc -4.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.30
Evaluated at bid price : 10.30
Bid-YTW : 8.14 %
BAM.PR.N Perpetual-Discount -4.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.61
Evaluated at bid price : 15.61
Bid-YTW : 7.66 %
CM.PR.Q FixedReset Disc -4.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 8.27 %
CCS.PR.C Deemed-Retractible -4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.19 %
POW.PR.D Perpetual-Discount -4.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 7.77 %
ELF.PR.H Perpetual-Premium -3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.41 %
BMO.PR.F FixedReset Disc -3.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.10 %
RY.PR.S FixedReset Disc -3.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 13.76
Evaluated at bid price : 13.76
Bid-YTW : 6.36 %
CIU.PR.A Perpetual-Discount -3.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.07
Evaluated at bid price : 16.07
Bid-YTW : 7.25 %
PWF.PR.I Perpetual-Premium -3.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.47 %
RY.PR.H FixedReset Disc -3.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.11
Evaluated at bid price : 11.11
Bid-YTW : 7.11 %
BAM.PR.B Floater -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.90
Evaluated at bid price : 6.90
Bid-YTW : 8.81 %
BAM.PR.C Floater -2.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.82
Evaluated at bid price : 6.82
Bid-YTW : 8.92 %
BNS.PR.Z FixedReset Bank Non -2.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.50
Bid-YTW : 8.12 %
BIP.PR.A FixedReset Disc -2.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.51
Evaluated at bid price : 10.51
Bid-YTW : 10.07 %
IAF.PR.I FixedReset Ins Non -1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.85
Evaluated at bid price : 11.85
Bid-YTW : 7.83 %
PWF.PR.A Floater 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 6.95
Evaluated at bid price : 6.95
Bid-YTW : 8.86 %
CU.PR.C FixedReset Disc 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 6.50 %
Volume Highlights
Issue Index Shares
Traded
Notes
MFC.PR.M FixedReset Ins Non 59,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.25
Evaluated at bid price : 10.25
Bid-YTW : 8.03 %
TRP.PR.D FixedReset Disc 59,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.30
Evaluated at bid price : 10.30
Bid-YTW : 8.14 %
BMO.PR.W FixedReset Disc 57,438 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 7.60 %
RY.PR.Z FixedReset Disc 57,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 10.87
Evaluated at bid price : 10.87
Bid-YTW : 7.20 %
TD.PF.C FixedReset Disc 55,473 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 7.20 %
RY.PR.R FixedReset Prem 54,089 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 7.38 %
There were 116 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BAM.PR.T FixedReset Disc Quote: 8.63 – 16.22
Spot Rate : 7.5900
Average : 4.2507

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 8.63
Evaluated at bid price : 8.63
Bid-YTW : 8.83 %

NA.PR.E FixedReset Disc Quote: 11.20 – 17.50
Spot Rate : 6.3000
Average : 3.5410

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 8.04 %

GWO.PR.T Deemed-Retractible Quote: 16.00 – 22.00
Spot Rate : 6.0000
Average : 3.4312

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 8.11 %

PVS.PR.G SplitShare Quote: 15.25 – 21.50
Spot Rate : 6.2500
Average : 4.0907

YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 15.25
Bid-YTW : 15.27 %

NA.PR.W FixedReset Disc Quote: 9.97 – 13.94
Spot Rate : 3.9700
Average : 2.2633

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 9.97
Evaluated at bid price : 9.97
Bid-YTW : 8.22 %

BNS.PR.E FixedReset Prem Quote: 17.73 – 20.90
Spot Rate : 3.1700
Average : 1.9291

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-23
Maturity Price : 17.73
Evaluated at bid price : 17.73
Bid-YTW : 7.45 %

March 20, 2020

Friday, March 20th, 2020
unicorn_200320_1
deadcatbounce_200320
Unicorn in the rainbow sky

Equities had another lousy day:

A brief semblance of stability in stock markets melted away on Friday, ending a disastrous week for North American equities, as the signs of economic carnage wrought by the fight against the coronavirus pandemic started to come into view.

The S&P/TSX Composite Index ended the trading day down 2.6 per cent, while the S&P 500 index dropped by 4.3 per cent, capping off the worst week for Canadian and U.S. stocks since 2008, each having lost 14 to 15 per cent.

Canadian energy stocks initially led a market rally on Friday morning after reports that the federal government is preparing a $15-billion support package for the sector, which has been decimated by the twin spectres of the COVID-19 crisis and plunging crude oil prices.

But the global oil market resumed its descent on Friday afternoon, as West Texas Intermediate dropped by 11 per cent on the day to settle at US$22.53 per barrel.

Crude futures have now declined by 64 per cent since their January peak.

The collapse of crude prices has devastated the energy component of the Toronto Stock Exchange, which has declined by 70 per cent just since the start of the year. Going back to the sector’s last major peak in 2014, the S&P/TSX Capped Energy Index has lost more than 85 per cent of its market value.

Friday was the one-month mark since the Canadian stock market last registered a record high on Feb. 20. In the chaotic month that followed, the domestic benchmark index dropped by 34 per cent, wiping out more than $1-trillion in market capitalization.

The containment measures required to flatten the curve on coronavirus infections ensure that a severe economic slowdown is taking hold. U.S. GDP growth is expected to fall by 8 per cent in the second quarter, while in Canada the decline will be closer to 11 per cent, Mr. [Jean-François] Perrault [chief economist at Scotiabank] said.

You might as well get sick if there are no jobs:

Prime Minister Justin Trudeau says the federal government has received 500,000 applications for employment insurance, compared to just 27,000 for the same week last year.

In fact, maybe you should get sick now and beat the rush:

A new study by some of Ontario’s leading medical researchers paints an alarming picture of the strain on the health-care system as the number of COVID-19 cases continues to rise, suggesting the province will run out of intensive-care beds and ventilators in just 37 days, even if it manages to cut current infection rates in half.

The study authors acknowledge their modelling is based on a number of key assumptions:

They begin with a starting point of 250 cases, which Ontario hit Thursday.
They assume that 19 per cent of cases will require hospitalization.
They assume that 26 per cent of hospitalized patients will require an ICU bed.
They assume an average ICU stay will be eight days long.
With those assumptions in mind, they predict the following outcomes:

If Ontario can free up 25 per cent of ICU beds for COVID-19 patients, resources will be depleted in 37 days.
If 75 per cent of ICU beds can be allocated to COVID-19 patients, resources can last 52 days.
If, on top of 75 percent of ICU beds, Ontario can make available some 2,000 more beds and 600 additional ventilators, resources can last 60 days.

S&P downgraded Air Canada:

  • The effect COVID-19 is having on air travel is much worse than we expected earlier this year, with many countries around the world, including Canada, temporarily restricting non-essential cross-border travel.
  • We believe the steep drop in air traffic at Air Canada stemming from the COVID-19 outbreak will contribute to credit metrics that are meaningfully weaker than we previously expected, including a decline in adjusted EBITDA of about two-thirds and adjusted funds from operations (FFO)-to-debt of about 10% in 2020.
  • As a result, S&P Global Ratings lowered most of its ratings on Air Canada by one notch, including its issuer credit rating on the company to ‘BB’ from ‘BB+’ and placed all the ratings on CreditWatch with negative implications.
  • As of now, we expect traffic to begin to recover in late 2020, but also recognize there is a high degree of uncertainty in the timing of a recovery that, if pushed out later than we expect, is likely to result in another downgrade.
  • We expect to resolve the CreditWatch when the effects of the outbreak on Air Canada’s financial position and timing of a recovery become more apparent.

TXPR closed at 425.75, up 3.78% on the day. Volume today was 6.05-million, second-highest of the past 30 trading days, behind only March 18.

Today’s rally means the total return version of this index is down only 10.05% from last Friday, so that’s a pretty good week, eh?

CPD closed at 8.57, up 4.26% on the day. Volume of 244,986 was above the average of the past 30 trading days.

ZPR closed at 6.55, up 2.66% on the day. Volume of 1,763,758 was second-highest of the past 30 trading days, behind only March 9.

Five-year Canada yields were down 10bp to 0.75% today.

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 2.2876 % 1,263.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 2.2876 % 2,317.8
Floater 8.57 % 8.51 % 75,662 10.90 4 2.2876 % 1,335.7
OpRet 0.00 % 0.00 % 0 0.00 0 6.3535 % 2,997.1
SplitShare 5.54 % 8.47 % 75,201 3.95 7 6.3535 % 3,579.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 6.3535 % 2,792.7
Perpetual-Premium 7.26 % 7.52 % 103,316 11.82 12 2.8993 % 2,347.2
Perpetual-Discount 6.75 % 6.97 % 89,195 12.58 24 2.9667 % 2,596.3
FixedReset Disc 8.53 % 7.46 % 212,401 11.72 64 5.6076 % 1,413.4
Deemed-Retractible 6.68 % 7.44 % 96,466 12.07 27 1.3675 % 2,530.1
FloatingReset 6.38 % 6.51 % 64,653 13.11 3 4.7969 % 1,519.3
FixedReset Prem 6.84 % 6.87 % 189,830 12.64 22 4.6239 % 1,983.2
FixedReset Bank Non 2.02 % 6.83 % 123,625 1.80 3 13.2464 % 2,627.7
FixedReset Ins Non 8.50 % 7.79 % 119,766 11.29 22 6.2333 % 1,388.9
Performance Highlights
Issue Index Change Notes
MFC.PR.B Deemed-Retractible -5.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.90 %
SLF.PR.C Deemed-Retractible -2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 15.49
Evaluated at bid price : 15.49
Bid-YTW : 7.23 %
EMA.PR.H FixedReset Prem -2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.85 %
RY.PR.O Perpetual-Discount -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.20 %
MFC.PR.C Deemed-Retractible -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 15.78
Evaluated at bid price : 15.78
Bid-YTW : 7.19 %
GWO.PR.G Deemed-Retractible -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 7.68 %
SLF.PR.E Deemed-Retractible -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 15.60
Evaluated at bid price : 15.60
Bid-YTW : 7.26 %
EIT.PR.B SplitShare -1.12 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 7.81 %
EIT.PR.A SplitShare 1.08 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.55
Bid-YTW : 7.77 %
CU.PR.H Perpetual-Discount 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.73 %
POW.PR.G Perpetual-Premium 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 7.92 %
PWF.PR.I Perpetual-Premium 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 7.18 %
BAM.PR.C Floater 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.02
Evaluated at bid price : 7.02
Bid-YTW : 8.65 %
POW.PR.A Perpetual-Premium 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 7.91 %
RY.PR.H FixedReset Disc 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.10 %
PWF.PR.G Perpetual-Premium 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.32
Evaluated at bid price : 20.32
Bid-YTW : 7.41 %
RY.PR.E Deemed-Retractible 1.75 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.25
Bid-YTW : 8.89 %
RY.PR.A Deemed-Retractible 1.84 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.30
Bid-YTW : 8.70 %
RY.PR.G Deemed-Retractible 1.85 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.14
Bid-YTW : 9.16 %
BAM.PR.X FixedReset Disc 1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 8.42
Evaluated at bid price : 8.42
Bid-YTW : 7.78 %
TD.PF.H FixedReset Prem 2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.03 %
TRP.PR.F FloatingReset 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 8.60
Evaluated at bid price : 8.60
Bid-YTW : 6.83 %
SLF.PR.H FixedReset Ins Non 2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 9.73
Evaluated at bid price : 9.73
Bid-YTW : 7.60 %
BNS.PR.G FixedReset Prem 2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.92
Evaluated at bid price : 20.92
Bid-YTW : 6.70 %
RY.PR.C Deemed-Retractible 2.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.45
Bid-YTW : 8.50 %
RY.PR.F Deemed-Retractible 2.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.22
Bid-YTW : 8.90 %
RY.PR.W Perpetual-Discount 2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.97
Evaluated at bid price : 20.97
Bid-YTW : 5.91 %
GWO.PR.P Deemed-Retractible 2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 7.55 %
PWF.PR.E Perpetual-Premium 2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.69 %
ELF.PR.H Perpetual-Premium 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.12 %
EML.PR.A FixedReset Ins Non 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 8.20 %
RY.PR.P Perpetual-Premium 2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.18 %
CU.PR.C FixedReset Disc 2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.70
Evaluated at bid price : 11.70
Bid-YTW : 6.95 %
IAF.PR.B Deemed-Retractible 2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.38
Evaluated at bid price : 16.38
Bid-YTW : 7.06 %
CU.PR.I FixedReset Prem 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 5.67 %
BAM.PR.N Perpetual-Discount 2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.29
Evaluated at bid price : 16.29
Bid-YTW : 7.34 %
BMO.PR.E FixedReset Disc 2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 7.01 %
BIP.PR.A FixedReset Disc 2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.76
Evaluated at bid price : 10.76
Bid-YTW : 10.18 %
BAM.PR.B Floater 2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.14
Evaluated at bid price : 7.14
Bid-YTW : 8.51 %
TRP.PR.C FixedReset Disc 2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.72
Evaluated at bid price : 7.72
Bid-YTW : 7.66 %
BMO.PR.Z Perpetual-Discount 2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.08
Evaluated at bid price : 20.08
Bid-YTW : 6.31 %
SLF.PR.G FixedReset Ins Non 3.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.78
Evaluated at bid price : 7.78
Bid-YTW : 7.08 %
MFC.PR.O FixedReset Ins Non 3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 8.00 %
BMO.PR.C FixedReset Disc 3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 15.07
Evaluated at bid price : 15.07
Bid-YTW : 7.01 %
BNS.PR.H FixedReset Prem 3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.31
Evaluated at bid price : 18.31
Bid-YTW : 6.90 %
IFC.PR.C FixedReset Ins Non 3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.09
Evaluated at bid price : 11.09
Bid-YTW : 7.78 %
IAF.PR.I FixedReset Ins Non 3.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.09
Evaluated at bid price : 12.09
Bid-YTW : 7.92 %
PWF.PR.S Perpetual-Discount 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.31
Evaluated at bid price : 16.31
Bid-YTW : 7.51 %
ELF.PR.G Perpetual-Discount 3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.16
Evaluated at bid price : 17.16
Bid-YTW : 7.08 %
CU.PR.F Perpetual-Discount 3.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.97
Evaluated at bid price : 17.97
Bid-YTW : 6.33 %
POW.PR.C Perpetual-Premium 3.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.52 %
BMO.PR.B FixedReset Prem 3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.71
Evaluated at bid price : 17.71
Bid-YTW : 6.93 %
TD.PF.G FixedReset Prem 3.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.18
Evaluated at bid price : 20.18
Bid-YTW : 6.87 %
NA.PR.C FixedReset Disc 3.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 8.15 %
PWF.PR.F Perpetual-Discount 3.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.63 %
HSE.PR.C FixedReset Disc 3.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.00
Evaluated at bid price : 7.00
Bid-YTW : 15.56 %
PWF.PR.H Perpetual-Premium 3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 7.66 %
BMO.PR.T FixedReset Disc 3.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 7.42 %
BAM.PF.D Perpetual-Discount 3.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 7.21 %
NA.PR.G FixedReset Disc 3.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.70
Evaluated at bid price : 12.70
Bid-YTW : 7.85 %
BMO.PR.W FixedReset Disc 3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.21
Evaluated at bid price : 11.21
Bid-YTW : 7.40 %
GWO.PR.F Deemed-Retractible 3.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.99
Evaluated at bid price : 19.99
Bid-YTW : 7.43 %
RY.PR.Q FixedReset Prem 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.26
Evaluated at bid price : 20.26
Bid-YTW : 6.66 %
BMO.PR.F FixedReset Disc 3.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.37
Evaluated at bid price : 16.37
Bid-YTW : 6.99 %
TD.PF.M FixedReset Disc 3.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 7.00 %
PVS.PR.G SplitShare 3.96 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 21.00
Bid-YTW : 8.47 %
CU.PR.D Perpetual-Discount 4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.36 %
MFC.PR.R FixedReset Ins Non 4.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 8.23 %
PWF.PR.K Perpetual-Discount 4.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 7.54 %
PWF.PR.L Perpetual-Discount 4.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.95
Evaluated at bid price : 16.95
Bid-YTW : 7.68 %
GWO.PR.Q Deemed-Retractible 4.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 7.44 %
BNS.PR.I FixedReset Disc 4.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 6.55 %
PWF.PR.R Perpetual-Premium 4.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.37
Evaluated at bid price : 18.37
Bid-YTW : 7.64 %
CM.PR.Y FixedReset Disc 4.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.36
Evaluated at bid price : 16.36
Bid-YTW : 7.23 %
TD.PF.D FixedReset Disc 4.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.13
Evaluated at bid price : 13.13
Bid-YTW : 6.93 %
BAM.PR.K Floater 4.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.17
Evaluated at bid price : 7.17
Bid-YTW : 8.47 %
BAM.PR.T FixedReset Disc 4.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 9.59
Evaluated at bid price : 9.59
Bid-YTW : 8.26 %
POW.PR.D Perpetual-Discount 4.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 7.44 %
CM.PR.R FixedReset Disc 4.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.69
Evaluated at bid price : 13.69
Bid-YTW : 7.85 %
BMO.PR.S FixedReset Disc 4.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.29
Evaluated at bid price : 11.29
Bid-YTW : 7.47 %
RY.PR.S FixedReset Disc 4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 14.30
Evaluated at bid price : 14.30
Bid-YTW : 6.31 %
CU.PR.G Perpetual-Discount 4.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.32 %
IFC.PR.I Perpetual-Premium 4.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 7.21 %
NA.PR.E FixedReset Disc 4.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.05
Evaluated at bid price : 12.05
Bid-YTW : 7.69 %
TRP.PR.A FixedReset Disc 4.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 9.68
Evaluated at bid price : 9.68
Bid-YTW : 7.67 %
IAF.PR.G FixedReset Ins Non 4.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.79 %
BIP.PR.B FixedReset Prem 4.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 8.10 %
NA.PR.W FixedReset Disc 4.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.73
Evaluated at bid price : 10.73
Bid-YTW : 7.84 %
RY.PR.Z FixedReset Disc 5.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.52
Evaluated at bid price : 11.52
Bid-YTW : 7.01 %
EMA.PR.C FixedReset Disc 5.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 7.52 %
PWF.PR.Q FloatingReset 5.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.89
Evaluated at bid price : 7.89
Bid-YTW : 6.51 %
BAM.PR.M Perpetual-Discount 5.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 7.16 %
NA.PR.S FixedReset Disc 5.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 8.06 %
BIP.PR.C FixedReset Prem 5.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 8.16 %
BAM.PF.C Perpetual-Discount 5.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 7.16 %
EMA.PR.F FixedReset Disc 5.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.46 %
POW.PR.B Perpetual-Discount 5.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 7.59 %
PWF.PR.Z Perpetual-Discount 5.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 7.57 %
W.PR.K FixedReset Prem 5.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 7.60 %
MFC.PR.G FixedReset Ins Non 5.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 8.32 %
IFC.PR.A FixedReset Ins Non 5.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 9.50
Evaluated at bid price : 9.50
Bid-YTW : 7.06 %
PWF.PR.O Perpetual-Premium 5.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 7.73 %
EMA.PR.E Perpetual-Discount 5.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.08 %
TD.PF.E FixedReset Disc 5.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.65
Evaluated at bid price : 13.65
Bid-YTW : 6.82 %
BIK.PR.A FixedReset Prem 5.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 8.18 %
BAM.PR.Z FixedReset Disc 5.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 7.84 %
IFC.PR.E Deemed-Retractible 5.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 7.01 %
BIP.PR.D FixedReset Disc 6.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.87
Evaluated at bid price : 16.87
Bid-YTW : 7.46 %
TD.PF.A FixedReset Disc 6.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.38
Evaluated at bid price : 11.38
Bid-YTW : 7.21 %
GWO.PR.M Deemed-Retractible 6.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.28
Evaluated at bid price : 19.28
Bid-YTW : 7.57 %
IFC.PR.F Deemed-Retractible 6.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.86
Evaluated at bid price : 18.86
Bid-YTW : 7.07 %
W.PR.M FixedReset Prem 6.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 7.61 %
TD.PF.J FixedReset Disc 6.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.85
Evaluated at bid price : 13.85
Bid-YTW : 6.88 %
RY.PR.R FixedReset Prem 6.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 21.77
Evaluated at bid price : 22.25
Bid-YTW : 6.32 %
IFC.PR.G FixedReset Ins Non 6.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 7.10 %
TRP.PR.E FixedReset Disc 6.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 8.13 %
CM.PR.P FixedReset Disc 6.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 7.52 %
CM.PR.S FixedReset Disc 6.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.26
Evaluated at bid price : 12.26
Bid-YTW : 7.30 %
NA.PR.X FixedReset Prem 6.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 7.52 %
CM.PR.O FixedReset Disc 6.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.99
Evaluated at bid price : 10.99
Bid-YTW : 7.66 %
HSE.PR.A FixedReset Disc 6.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 4.60
Evaluated at bid price : 4.60
Bid-YTW : 13.76 %
BNS.PR.E FixedReset Prem 6.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.53 %
PVS.PR.D SplitShare 6.77 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 8.88 %
CM.PR.T FixedReset Disc 6.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.12 %
TD.PF.C FixedReset Disc 6.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.91
Evaluated at bid price : 11.91
Bid-YTW : 7.10 %
RY.PR.J FixedReset Disc 6.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 6.49 %
BIP.PR.E FixedReset Disc 6.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 7.70 %
RY.PR.M FixedReset Disc 6.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.81
Evaluated at bid price : 12.81
Bid-YTW : 6.74 %
BAM.PF.B FixedReset Disc 6.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.96
Evaluated at bid price : 11.96
Bid-YTW : 7.78 %
TD.PF.L FixedReset Disc 7.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 15.90
Evaluated at bid price : 15.90
Bid-YTW : 7.00 %
NA.PR.A FixedReset Prem 7.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 7.49 %
MFC.PR.H FixedReset Ins Non 7.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.09
Evaluated at bid price : 12.09
Bid-YTW : 8.29 %
TRP.PR.B FixedReset Disc 7.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.59
Evaluated at bid price : 7.59
Bid-YTW : 6.83 %
TD.PF.B FixedReset Disc 7.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.76
Evaluated at bid price : 11.76
Bid-YTW : 7.01 %
TRP.PR.D FixedReset Disc 7.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 8.04 %
SLF.PR.J FloatingReset 7.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.76
Evaluated at bid price : 7.76
Bid-YTW : 5.91 %
MFC.PR.I FixedReset Ins Non 7.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.69
Evaluated at bid price : 11.69
Bid-YTW : 8.14 %
PWF.PR.P FixedReset Disc 7.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 8.64
Evaluated at bid price : 8.64
Bid-YTW : 7.01 %
CCS.PR.C Deemed-Retractible 7.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 6.89 %
PVS.PR.E SplitShare 8.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 9.15 %
BAM.PF.G FixedReset Disc 8.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.57
Evaluated at bid price : 11.57
Bid-YTW : 7.88 %
TRP.PR.G FixedReset Disc 8.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.37
Evaluated at bid price : 12.37
Bid-YTW : 7.68 %
MFC.PR.N FixedReset Ins Non 8.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.57
Evaluated at bid price : 10.57
Bid-YTW : 7.35 %
BIP.PR.F FixedReset Disc 8.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 7.83 %
MFC.PR.L FixedReset Ins Non 8.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.40
Evaluated at bid price : 10.40
Bid-YTW : 7.73 %
TD.PF.I FixedReset Disc 8.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 6.88 %
BAM.PF.F FixedReset Disc 8.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 7.89 %
PWF.PR.T FixedReset Disc 9.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.45
Evaluated at bid price : 11.45
Bid-YTW : 7.68 %
MFC.PR.K FixedReset Ins Non 9.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.10
Evaluated at bid price : 11.10
Bid-YTW : 7.60 %
BAM.PF.J FixedReset Prem 9.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.26
Evaluated at bid price : 18.26
Bid-YTW : 6.54 %
TD.PF.K FixedReset Disc 9.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 6.84 %
BAM.PF.E FixedReset Disc 10.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.73
Evaluated at bid price : 10.73
Bid-YTW : 7.82 %
BNS.PR.Y FixedReset Bank Non 10.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 1.81 %
BAM.PF.A FixedReset Disc 10.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.35
Evaluated at bid price : 13.35
Bid-YTW : 7.57 %
MFC.PR.J FixedReset Ins Non 10.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.95
Evaluated at bid price : 11.95
Bid-YTW : 7.76 %
BAM.PF.I FixedReset Prem 11.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 6.49 %
BAM.PF.H FixedReset Prem 11.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 6.50 %
GWO.PR.N FixedReset Ins Non 11.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 9.75
Evaluated at bid price : 9.75
Bid-YTW : 5.37 %
MFC.PR.Q FixedReset Ins Non 12.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.70
Evaluated at bid price : 11.70
Bid-YTW : 7.86 %
PVS.PR.F SplitShare 14.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 20.90
Bid-YTW : 9.43 %
PVS.PR.H SplitShare 14.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 20.55
Bid-YTW : 8.19 %
BMO.PR.Q FixedReset Bank Non 14.91 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.27
Bid-YTW : 8.36 %
BNS.PR.Z FixedReset Bank Non 14.91 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.04
Bid-YTW : 6.83 %
HSE.PR.G FixedReset Disc 15.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.50
Evaluated at bid price : 7.50
Bid-YTW : 14.52 %
HSE.PR.E FixedReset Disc 15.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 7.75
Evaluated at bid price : 7.75
Bid-YTW : 14.21 %
MFC.PR.M FixedReset Ins Non 22.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 7.73 %
Volume Highlights
Issue Index Shares
Traded
Notes
BNS.PR.Y FixedReset Bank Non 517,700 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 1.81 %
CM.PR.R FixedReset Disc 417,535 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.69
Evaluated at bid price : 13.69
Bid-YTW : 7.85 %
TRP.PR.E FixedReset Disc 222,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 8.13 %
PWF.PR.K Perpetual-Discount 218,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 7.54 %
TD.PF.K FixedReset Disc 128,304 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 6.84 %
TD.PF.G FixedReset Prem 77,021 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 20.18
Evaluated at bid price : 20.18
Bid-YTW : 6.87 %
There were 89 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: 10.50 – 15.44
Spot Rate : 4.9400
Average : 3.0952

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 8.13 %

BAM.PF.I FixedReset Prem Quote: 18.60 – 24.65
Spot Rate : 6.0500
Average : 4.5532

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 6.49 %

TRP.PR.A FixedReset Disc Quote: 9.68 – 15.85
Spot Rate : 6.1700
Average : 4.9417

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 9.68
Evaluated at bid price : 9.68
Bid-YTW : 7.67 %

BIP.PR.F FixedReset Disc Quote: 16.40 – 18.50
Spot Rate : 2.1000
Average : 1.3057

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 7.83 %

BMO.PR.C FixedReset Disc Quote: 15.07 – 17.00
Spot Rate : 1.9300
Average : 1.1633

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 15.07
Evaluated at bid price : 15.07
Bid-YTW : 7.01 %

RY.PR.H FixedReset Disc Quote: 11.50 – 12.98
Spot Rate : 1.4800
Average : 0.8920

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-20
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.10 %

March 19, 2020

Friday, March 20th, 2020
unicorn_200319
Click for Big

Brace yourself for staggering unemployment numbers:

Numbers released on Thursday by the Labor Department — as well as a preliminary analysis of even more recent data — provide the first hard confirmation that the new coronavirus is bringing the United States economy to a shuddering halt. The government reported that the number of initial unemployment claims rose to 281,000 last week, a sharp rise from 211,000 the previous week. This rise in initial claims of 70,000 is larger than any week-to-week movement that occurred during (or since) the 2008 financial crisis.

But even these numbers understate the economy’s free fall, as they reflect the state of the economy last week. Based on preliminary news reports this week from 15 states, it’s already clear that initial claims will skyrocket next week, most likely to levels never seen before.

Although Washington has not revealed the most recent official figures, state officials said that claims increased 150 percent last week and that the state was seeing an “even more dramatic increase this week.” They also mentioned that call volume surged more than eightfold on Tuesday.

As the accompanying charts show, jobless claims rose sharply in the vast majority of states. These figures come from state unemployment insurance offices tallying up the number of people newly applying for unemployment benefits.

unemploymentclaims_200319
Click for Big

DBRS downgraded Alberta:

DBRS Morningstar downgraded the Province of Alberta’s Issuer Rating and Long-Term Debt rating to AA (low) from AA and its Short-Term Debt rating to R-1 (middle) from R-1 (high). In addition, DBRS Morningstar changed the trend on the Province of Alberta’s Short-Term Debt to Stable from Negative. DBRS Morningstar also downgraded the Alberta Capital Finance Authority’s Long-Term Obligations rating to AA (low). The trends on all Issuer Rating and Long-Term Debt ratings are Negative.

DBRS Morningstar believes that Alberta’s credit profile is no longer consistent with a AA rating and that risks remain firmly tilted toward the downside; as a result, DBRS Morningstar has maintained the Negative trend on Alberta’s Issuer Rating and Long-Term debt rating. Current economic conditions and actions taken by Saudi Arabian and Russian governments suggest that oil prices will be under pressure for the foreseeable future, which will have a significant and adverse impact on Alberta’s economic activity and government revenue. This will likely drive debt ratios significantly higher in the near to medium term.

DBRS Morningstar has estimated possible impacts using Alberta’s 2020 Budget, released in late February 2020. DBRS Morningstar estimates that the 2020–21 deficit (on an adjusted basis) may exceed 4.0% of GDP and that the adjusted debt-to-GDP ratio may rise above 30% in 2020–21 alone. Notwithstanding these estimates, there is uncertainty with respect to the current situation and Alberta has yet to outline a full fiscal policy response.

Yesterday I mentioned the problem of bond ETFs and inverted liquidity and, right on cue, I got a call from a client worried about his holdings in VCSH – Vanguard Short-Term Corporate Bond ETF. Holy smokes, look at that price chart!

vcsh_chart_200319
Click for Big

When I looked into this, I found another Reuters article with a bit more colour:

For the iShares iBoxx Investment Grade Corporate Bond ETF , that has created the widest gap between the price at which it trades and the underlying value of the assets – known as net asset value. LQD on Thursday traded at a nearly 5% discount to its net asset value, the widest spread since 2008.

That has meant that corporate bonds are traded less, and when they are, the difference between bid and ask prices are wider. But the ETFs that track those bonds have had less trouble trading. The harder the asset is to trade, the greater the price dislocation.

The problem seems to be in investment grade debt at the moment rather than in high yield. Two major high-yield bond ETFs saw spreads between their trade price and net asset value widen, but far less dramatically than in LQD. (Reporting by Kate Duguid Editing by Marguerita Choy)

Fortunately, I was able to refer my client to the VCSH website which contained the information that although VCSH closed 3/19 at 71.75, down 2.55 (!), its NAVPU as of 3/18 was 77.79, implying it was trading at a 4.5% discount to NAV. Incredible.

What’s more, I understand this fund is actually bringing in money:

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Short-Term Corporate Bond ETF (Symbol: VCSH) where we have detected an approximate $408.0 million dollar inflow — that’s a 1.8% increase week over week in outstanding units (from 303,016,326 to 308,330,856).

… but its growth is an exception:

BlackRock’s exchange-traded fund focused on investment-grade corporate bonds has seen big price declines. The net asset value of iShares iBoxx $ Investment Grade Corporate Bond ETF, which trades under the ticker LQD, dropped 5 percent on March 18. Its shares continued to fall Thursday.

The steep price declines of the ETF over the past few days resemble the massive drop seen in a similarly short period during the financial crisis, the Bank of America report shows. A downward spiraling effect is at play, with investors fearing corporate cash flows will dwindle as the escalating coronavirus crisis halts economic activity.

The billions of dollars in outflows from U.S. investment-grade corporate debt funds and ETFs in each of the past few days reached record levels, according to the Bank of America report. During the financial crisis, investment-grade bond funds and ETFs lost 3.7 percent of assets over two months, which the strategists estimated would be $133 billion based on today’s assets under management.

The VCSH fact sheet indicates that all the bonds are investment grade – although I bet that a few downgrades are pending!

Fortunately for shareholders, the fund’s prospectus indicates:

ETF Shares of the Fund cannot be directly purchased from or redeemed with the Fund, except by certain authorized broker-dealers. These broker-dealers may purchase and redeem ETF Shares only in large blocks (Creation Units), typically in exchange for baskets of securities.

… which offers some measure of protection for shareholders … the fund doesn’t have to sell securities at garbage prices to fund redemptions, all that risk is borne by the market-makers who, presumably, are currently having a hell of a time right now.

It’s a wild world; I fear that are a lot of people making some very bad decisions right now; although the nature of markets demands that other people are making some very good ones, as the rich get richer.

TXPR closed at 410.23, up 1.96% on the day. Volume today was 5.35-million, fourth-highest of the past 30 trading days.

Today’s rally means the total return version of this index is down only 13.33% from last Friday, so it looks like a pretty good week!

CPD closed at 8.22, up 3.27% on the day. Volume of 183,495 was … oh, I don’t know, around the median of the past 30 trading days.

ZPR closed at 6.38, up 1.59% on the day. Volume of 764,911 was pretty low in the context of the past two weeks.

Five-year Canada yields were down 6bp to 0.86% today.

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 4.1604 % 1,234.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 4.1604 % 2,265.9
Floater 8.77 % 8.78 % 75,758 10.64 4 4.1604 % 1,305.9
OpRet 0.00 % 0.00 % 0 0.00 0 3.2699 % 2,818.1
SplitShare 5.89 % 10.59 % 76,481 3.87 7 3.2699 % 3,365.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 3.2699 % 2,625.8
Perpetual-Premium 7.47 % 7.78 % 100,623 11.53 12 8.3465 % 2,281.1
Perpetual-Discount 6.95 % 6.95 % 84,397 12.61 24 2.8266 % 2,521.5
FixedReset Disc 9.01 % 7.91 % 214,129 11.11 64 3.5069 % 1,338.4
Deemed-Retractible 6.77 % 7.49 % 97,916 12.01 27 7.2355 % 2,496.0
FloatingReset 6.49 % 6.64 % 65,721 12.93 3 1.9383 % 1,449.7
FixedReset Prem 7.15 % 7.20 % 190,263 12.31 22 0.4592 % 1,895.5
FixedReset Bank Non 2.29 % 14.86 % 114,627 1.76 3 4.9139 % 2,320.3
FixedReset Ins Non 9.04 % 8.33 % 121,605 10.98 22 2.9140 % 1,307.4
Performance Highlights
Issue Index Change Notes
MFC.PR.M FixedReset Ins Non -10.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 8.97
Evaluated at bid price : 8.97
Bid-YTW : 9.65 %
HSE.PR.C FixedReset Disc -6.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 6.76
Evaluated at bid price : 6.76
Bid-YTW : 16.27 %
BAM.PF.H FixedReset Prem -5.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 7.24 %
TRP.PR.K FixedReset Prem -4.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.89 %
HSE.PR.E FixedReset Disc -4.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 6.70
Evaluated at bid price : 6.70
Bid-YTW : 16.70 %
SLF.PR.J FloatingReset -3.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 7.21
Evaluated at bid price : 7.21
Bid-YTW : 6.15 %
TD.PF.G FixedReset Prem -3.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 7.19 %
ELF.PR.G Perpetual-Discount -3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.31 %
PWF.PR.A Floater -2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 6.80
Evaluated at bid price : 6.80
Bid-YTW : 9.05 %
TRP.PR.J FixedReset Prem -2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.33
Evaluated at bid price : 20.33
Bid-YTW : 6.89 %
BMO.PR.Z Perpetual-Discount -2.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.49 %
PVS.PR.D SplitShare -2.44 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 22.01
Bid-YTW : 13.45 %
EMA.PR.H FixedReset Prem -2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 5.69 %
NA.PR.C FixedReset Disc -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.85
Evaluated at bid price : 12.85
Bid-YTW : 8.54 %
BIP.PR.A FixedReset Disc -1.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.46
Evaluated at bid price : 10.46
Bid-YTW : 10.61 %
TD.PF.I FixedReset Disc -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 13.31
Evaluated at bid price : 13.31
Bid-YTW : 7.62 %
BAM.PF.I FixedReset Prem -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 7.21 %
BIK.PR.A FixedReset Prem -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 8.67 %
BMO.PR.C FixedReset Disc -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 14.61
Evaluated at bid price : 14.61
Bid-YTW : 7.33 %
SLF.PR.H FixedReset Ins Non -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 9.53
Evaluated at bid price : 9.53
Bid-YTW : 7.90 %
RY.PR.Q FixedReset Prem -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.99 %
BMO.PR.D FixedReset Disc -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 14.04
Evaluated at bid price : 14.04
Bid-YTW : 7.36 %
CM.PR.R FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 13.10
Evaluated at bid price : 13.10
Bid-YTW : 8.31 %
PVS.PR.F SplitShare -1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 18.31
Bid-YTW : 12.90 %
RY.PR.E Deemed-Retractible 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.85
Bid-YTW : 9.88 %
RY.PR.F Deemed-Retractible 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.70
Bid-YTW : 10.21 %
TD.PF.A FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.73
Evaluated at bid price : 10.73
Bid-YTW : 7.78 %
EML.PR.A FixedReset Ins Non 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 8.49 %
EIT.PR.A SplitShare 1.18 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.31
Bid-YTW : 8.07 %
EMA.PR.E Perpetual-Discount 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.72
Evaluated at bid price : 17.72
Bid-YTW : 6.43 %
RY.PR.J FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.87
Evaluated at bid price : 12.87
Bid-YTW : 7.05 %
CU.PR.E Perpetual-Discount 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.70 %
RY.PR.A Deemed-Retractible 1.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.88
Bid-YTW : 9.75 %
NA.PR.S FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.30
Evaluated at bid price : 10.30
Bid-YTW : 8.62 %
IAF.PR.I FixedReset Ins Non 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.71
Evaluated at bid price : 11.71
Bid-YTW : 8.29 %
IFC.PR.C FixedReset Ins Non 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 8.15 %
IFC.PR.F Deemed-Retractible 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.51 %
RY.PR.C Deemed-Retractible 1.46 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.93
Bid-YTW : 9.79 %
NA.PR.A FixedReset Prem 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.10 %
MFC.PR.H FixedReset Ins Non 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.27
Evaluated at bid price : 11.27
Bid-YTW : 9.02 %
BMO.PR.Y FixedReset Disc 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.37
Evaluated at bid price : 12.37
Bid-YTW : 7.29 %
MFC.PR.O FixedReset Ins Non 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 8.33 %
CM.PR.Q FixedReset Disc 1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 8.43 %
TD.PF.L FixedReset Disc 1.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 14.86
Evaluated at bid price : 14.86
Bid-YTW : 7.60 %
BNS.PR.G FixedReset Prem 1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.46
Evaluated at bid price : 20.46
Bid-YTW : 6.92 %
BAM.PR.R FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 9.06
Evaluated at bid price : 9.06
Bid-YTW : 8.70 %
PWF.PR.S Perpetual-Discount 1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.79
Evaluated at bid price : 15.79
Bid-YTW : 7.76 %
BMO.PR.S FixedReset Disc 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.80
Evaluated at bid price : 10.80
Bid-YTW : 7.93 %
BMO.PR.W FixedReset Disc 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.80
Evaluated at bid price : 10.80
Bid-YTW : 7.79 %
BMO.PR.Q FixedReset Bank Non 1.89 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.38
Bid-YTW : 16.40 %
MFC.PR.L FixedReset Ins Non 2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 9.55
Evaluated at bid price : 9.55
Bid-YTW : 8.58 %
CIU.PR.A Perpetual-Discount 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.76
Evaluated at bid price : 16.76
Bid-YTW : 6.95 %
TD.PF.F Perpetual-Discount 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.23 %
NA.PR.W FixedReset Disc 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.22
Evaluated at bid price : 10.22
Bid-YTW : 8.36 %
BNS.PR.Y FixedReset Bank Non 2.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.70
Bid-YTW : 7.36 %
TD.PF.C FixedReset Disc 2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 7.71 %
MFC.PR.G FixedReset Ins Non 2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.64
Evaluated at bid price : 10.64
Bid-YTW : 8.93 %
HSE.PR.A FixedReset Disc 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 4.31
Evaluated at bid price : 4.31
Bid-YTW : 15.00 %
BMO.PR.E FixedReset Disc 2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 13.37
Evaluated at bid price : 13.37
Bid-YTW : 7.31 %
BAM.PF.J FixedReset Prem 2.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 7.18 %
RY.PR.W Perpetual-Discount 2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.05 %
BNS.PR.I FixedReset Disc 2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 13.54
Evaluated at bid price : 13.54
Bid-YTW : 6.93 %
CU.PR.I FixedReset Prem 2.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 5.87 %
PWF.PR.L Perpetual-Discount 2.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.28
Evaluated at bid price : 16.28
Bid-YTW : 8.00 %
TD.PF.B FixedReset Disc 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 7.65 %
EIT.PR.B SplitShare 2.77 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.25
Bid-YTW : 7.54 %
RY.PR.S FixedReset Disc 2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 13.67
Evaluated at bid price : 13.67
Bid-YTW : 6.72 %
CM.PR.O FixedReset Disc 2.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.30
Evaluated at bid price : 10.30
Bid-YTW : 8.30 %
RY.PR.M FixedReset Disc 2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.98
Evaluated at bid price : 11.98
Bid-YTW : 7.34 %
PWF.PR.O Perpetual-Premium 2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 8.19 %
PVS.PR.H SplitShare 2.86 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 18.00
Bid-YTW : 10.59 %
NA.PR.E FixedReset Disc 2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 8.19 %
RY.PR.Z FixedReset Disc 3.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.96
Evaluated at bid price : 10.96
Bid-YTW : 7.49 %
TD.PF.M FixedReset Disc 3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.97
Evaluated at bid price : 15.97
Bid-YTW : 7.36 %
EMA.PR.F FixedReset Disc 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.85
Evaluated at bid price : 11.85
Bid-YTW : 7.98 %
BAM.PR.N Perpetual-Discount 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.84
Evaluated at bid price : 15.84
Bid-YTW : 7.54 %
RY.PR.P Perpetual-Premium 3.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.35 %
BAM.PF.C Perpetual-Discount 3.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.17
Evaluated at bid price : 16.17
Bid-YTW : 7.55 %
BIP.PR.D FixedReset Disc 3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.91
Evaluated at bid price : 15.91
Bid-YTW : 7.91 %
MFC.PR.R FixedReset Ins Non 3.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 8.66 %
BAM.PR.M Perpetual-Discount 3.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.86
Evaluated at bid price : 15.86
Bid-YTW : 7.54 %
CM.PR.P FixedReset Disc 3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 8.15 %
TRP.PR.E FixedReset Disc 3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 9.85
Evaluated at bid price : 9.85
Bid-YTW : 8.80 %
RY.PR.H FixedReset Disc 3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.33
Evaluated at bid price : 11.33
Bid-YTW : 7.31 %
BAM.PR.Z FixedReset Disc 3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.90
Evaluated at bid price : 11.90
Bid-YTW : 8.43 %
PWF.PR.R Perpetual-Premium 3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.63
Evaluated at bid price : 17.63
Bid-YTW : 7.97 %
PVS.PR.E SplitShare 3.66 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 12.56 %
IFC.PR.I Perpetual-Premium 3.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 7.56 %
BIP.PR.E FixedReset Disc 3.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.30
Evaluated at bid price : 15.30
Bid-YTW : 8.23 %
CU.PR.D Perpetual-Discount 3.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.61 %
IFC.PR.G FixedReset Ins Non 3.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 7.70 %
PWF.PR.H Perpetual-Premium 3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.49
Evaluated at bid price : 18.49
Bid-YTW : 7.94 %
TD.PF.E FixedReset Disc 3.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.90
Evaluated at bid price : 12.90
Bid-YTW : 7.33 %
CM.PR.S FixedReset Disc 3.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.93 %
POW.PR.G Perpetual-Premium 4.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.89
Evaluated at bid price : 17.89
Bid-YTW : 8.02 %
BMO.PR.F FixedReset Disc 4.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.35 %
NA.PR.G FixedReset Disc 4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 8.26 %
TRP.PR.G FixedReset Disc 4.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.38
Evaluated at bid price : 11.38
Bid-YTW : 8.48 %
IFC.PR.A FixedReset Ins Non 4.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 8.98
Evaluated at bid price : 8.98
Bid-YTW : 7.62 %
RY.PR.O Perpetual-Discount 4.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 6.08 %
IAF.PR.G FixedReset Ins Non 4.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 8.29 %
W.PR.M FixedReset Prem 4.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 8.18 %
PWF.PR.F Perpetual-Discount 4.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.95
Evaluated at bid price : 16.95
Bid-YTW : 7.91 %
BNS.PR.E FixedReset Prem 5.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.39
Evaluated at bid price : 19.39
Bid-YTW : 7.05 %
RY.PR.N Perpetual-Discount 5.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 6.20 %
GWO.PR.H Deemed-Retractible 5.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.56
Evaluated at bid price : 16.56
Bid-YTW : 7.37 %
CM.PR.T FixedReset Disc 5.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 7.71 %
CU.PR.H Perpetual-Discount 5.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.81 %
BAM.PF.D Perpetual-Discount 5.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 7.47 %
GWO.PR.I Deemed-Retractible 5.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.27
Evaluated at bid price : 15.27
Bid-YTW : 7.41 %
PWF.PR.K Perpetual-Discount 5.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.09
Evaluated at bid price : 16.09
Bid-YTW : 7.85 %
CM.PR.Y FixedReset Disc 5.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.70
Evaluated at bid price : 15.70
Bid-YTW : 7.61 %
TD.PF.J FixedReset Disc 5.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 13.01
Evaluated at bid price : 13.01
Bid-YTW : 7.45 %
POW.PR.C Perpetual-Premium 6.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 7.78 %
BAM.PR.C Floater 6.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 6.92
Evaluated at bid price : 6.92
Bid-YTW : 8.78 %
GWO.PR.G Deemed-Retractible 6.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.28
Evaluated at bid price : 17.28
Bid-YTW : 7.57 %
GWO.PR.L Deemed-Retractible 6.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.81 %
BAM.PR.K Floater 6.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 6.88
Evaluated at bid price : 6.88
Bid-YTW : 8.83 %
SLF.PR.I FixedReset Ins Non 6.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 8.05 %
GWO.PR.F Deemed-Retractible 6.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.71 %
GWO.PR.M Deemed-Retractible 6.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 8.04 %
BAM.PF.A FixedReset Disc 6.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.09
Evaluated at bid price : 12.09
Bid-YTW : 8.51 %
PWF.PR.G Perpetual-Premium 7.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.53 %
POW.PR.D Perpetual-Discount 7.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 7.76 %
BAM.PR.B Floater 7.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 6.94
Evaluated at bid price : 6.94
Bid-YTW : 8.75 %
SLF.PR.E Deemed-Retractible 7.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.78
Evaluated at bid price : 15.78
Bid-YTW : 7.17 %
PWF.PR.E Perpetual-Premium 7.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.81
Evaluated at bid price : 17.81
Bid-YTW : 7.88 %
GWO.PR.R Deemed-Retractible 8.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 7.19 %
SLF.PR.A Deemed-Retractible 8.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.19 %
TRP.PR.D FixedReset Disc 8.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 8.79 %
POW.PR.B Perpetual-Discount 8.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 8.02 %
BAM.PF.B FixedReset Disc 8.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.18
Evaluated at bid price : 11.18
Bid-YTW : 8.45 %
MFC.PR.I FixedReset Ins Non 8.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 8.91 %
GWO.PR.Q Deemed-Retractible 9.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.73
Evaluated at bid price : 16.73
Bid-YTW : 7.75 %
TRP.PR.F FloatingReset 9.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 8.43
Evaluated at bid price : 8.43
Bid-YTW : 6.78 %
GWO.PR.P Deemed-Retractible 9.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.59
Evaluated at bid price : 17.59
Bid-YTW : 7.73 %
BAM.PF.F FixedReset Disc 9.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.01
Evaluated at bid price : 11.01
Bid-YTW : 8.71 %
PWF.PR.I Perpetual-Premium 10.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 7.28 %
TRP.PR.B FixedReset Disc 10.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 7.07
Evaluated at bid price : 7.07
Bid-YTW : 7.54 %
BAM.PR.T FixedReset Disc 10.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 9.20
Evaluated at bid price : 9.20
Bid-YTW : 8.76 %
SLF.PR.B Deemed-Retractible 10.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.01
Evaluated at bid price : 17.01
Bid-YTW : 7.10 %
SLF.PR.C Deemed-Retractible 11.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.90
Evaluated at bid price : 15.90
Bid-YTW : 7.04 %
SLF.PR.D Deemed-Retractible 11.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.70
Evaluated at bid price : 15.70
Bid-YTW : 7.13 %
CU.PR.C FixedReset Disc 11.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 7.25 %
BNS.PR.Z FixedReset Bank Non 11.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.05
Bid-YTW : 14.86 %
TD.PF.D FixedReset Disc 11.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 7.35 %
TRP.PR.A FixedReset Disc 13.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 9.23
Evaluated at bid price : 9.23
Bid-YTW : 8.18 %
PWF.PR.P FixedReset Disc 13.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 8.01
Evaluated at bid price : 8.01
Bid-YTW : 7.75 %
GWO.PR.N FixedReset Ins Non 13.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 8.75
Evaluated at bid price : 8.75
Bid-YTW : 6.15 %
GWO.PR.T Deemed-Retractible 15.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 7.49 %
TRP.PR.C FixedReset Disc 15.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 7.50
Evaluated at bid price : 7.50
Bid-YTW : 8.08 %
MFC.PR.C Deemed-Retractible 15.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 16.07
Evaluated at bid price : 16.07
Bid-YTW : 7.06 %
GWO.PR.S Deemed-Retractible 16.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 7.33 %
BAM.PR.X FixedReset Disc 17.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 8.26
Evaluated at bid price : 8.26
Bid-YTW : 8.09 %
BNS.PR.H FixedReset Prem 18.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.20 %
PVS.PR.G SplitShare 18.82 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 20.20
Bid-YTW : 9.26 %
MFC.PR.B Deemed-Retractible 19.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.51 %
BAM.PF.G FixedReset Disc 25.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.67
Evaluated at bid price : 10.67
Bid-YTW : 8.69 %
POW.PR.A Perpetual-Premium 26.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.89
Evaluated at bid price : 17.89
Bid-YTW : 8.02 %
MFC.PR.N FixedReset Ins Non 27.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 9.72
Evaluated at bid price : 9.72
Bid-YTW : 8.16 %
ELF.PR.H Perpetual-Premium 28.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.31 %
IAF.PR.B Deemed-Retractible 32.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 15.95
Evaluated at bid price : 15.95
Bid-YTW : 7.25 %
Volume Highlights
Issue Index Shares
Traded
Notes
TRP.PR.K FixedReset Prem 192,480 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.89 %
RY.PR.R FixedReset Prem 153,091 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 6.82 %
BNS.PR.H FixedReset Prem 134,198 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.20 %
HSE.PR.A FixedReset Disc 80,490 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 4.31
Evaluated at bid price : 4.31
Bid-YTW : 15.00 %
TD.PF.H FixedReset Prem 69,142 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 7.25 %
TD.PF.C FixedReset Disc 65,118 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 7.71 %
There were 109 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.G FixedReset Ins Non Quote: 10.64 – 19.17
Spot Rate : 8.5300
Average : 4.7372

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.64
Evaluated at bid price : 10.64
Bid-YTW : 8.93 %

HSE.PR.E FixedReset Disc Quote: 6.70 – 13.00
Spot Rate : 6.3000
Average : 4.1768

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 6.70
Evaluated at bid price : 6.70
Bid-YTW : 16.70 %

NA.PR.G FixedReset Disc Quote: 12.25 – 15.95
Spot Rate : 3.7000
Average : 2.1292

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 8.26 %

TRP.PR.D FixedReset Disc Quote: 10.00 – 13.20
Spot Rate : 3.2000
Average : 1.8157

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 8.79 %

TD.PF.E FixedReset Disc Quote: 12.90 – 15.95
Spot Rate : 3.0500
Average : 1.8493

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 12.90
Evaluated at bid price : 12.90
Bid-YTW : 7.33 %

IFC.PR.I Perpetual-Premium Quote: 18.15 – 22.00
Spot Rate : 3.8500
Average : 2.7672

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-19
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 7.56 %

March 18, 2020

Wednesday, March 18th, 2020
mushroomcloud_200318_1 coronavirus_200318_1
rainingmoney_200318 Armageddon
mushroomcloud_200318_3 coronavirus

It’s raining money in Washington!

Economists fear that by the time the coronavirus pandemic subsides and economic activity resumes, entire industries could be wiped out, proprietors across the country could lose their businesses and millions of workers could find themselves jobless.

To blunt the fallout, Washington is weighing proposals that could easily top $2 trillion, a staggering jump from the initial $8.3 billion virus response bill lawmakers approved this month. That includes a $1 trillion request President Trump floated with Congress on Wednesday, which would provide direct payments to individuals and small businesses, along with aid for airlines and other affected industries.

Mr. Trump and Republicans are also weighing a separate proposal that would potentially extend $1 trillion in assistance to small businesses, to keep them afloat during the outbreak and keep workers on their payrolls.

The scope of the business crisis could be seen on Wednesday. Detroit automakers said they would temporarily shutter production to try to contain the spread of virus, a decision that will ripple through hundreds of suppliers and millions of workers who depend on a vibrant auto industry.

And it’s raining money in Ottawa!

Prime Minister Justin Trudeau unveiled a sweeping emergency-aid package Wednesday aimed at helping Canadian workers and businesses survive the severe economic downturn caused by the new coronavirus pandemic.

The stimulus package – which includes $27-billion in emergency aid for workers and businesses and $55-billion in tax deferrals – will inject billions of dollars into businesses to help with their cash flow and to keep workers on the payroll, even if they have been sent home, while bolstering federal benefits and support programs for people who have lost their jobs.

The government announced two entirely new programs: The first – a $10-billion Emergency Care Benefit – will provide $450 a week for 15 weeks for workers who are quarantined or sick, or for parents who must stay at home to care for their children owing to school closings; and the second – a $5-billion Emergency Support Benefit – will provide funding to recently unemployed Canadians who do not qualify for EI.

In addition, small-business owners will receive a temporary wage subsidy from Ottawa that will be equal to 10 per cent of salary paid to employees for a period of three months. The measure is estimated to cost $3.8-billion.

The government will place a six-month moratorium on repayment of student loans, provide $157.5-million for homelessness programs and more than $300-million for Indigenous communities.

Last week, Ottawa pledged $1-billion in funding for health research and aid to the provinces, as well as $10-billion in new credits to backstop businesses.

Some were unimpressed:

Financial markets reeled again on Wednesday, as the coronavirus continued its relentless spread, governments ramped up efforts to contain it and investors waited for lawmakers in Washington to take action on proposals to bolster the American economy.

The selling reflected another extreme swing in sentiment on Wall Street. Stocks jumped on Tuesday as the White House called for urgent action to pump $1 trillion into the economy.

Stocks did recoup some losses late in the day Wednesday, as the Senate began to vote on a bill to provide sick leave, jobless benefits, free coronavirus testing and other aid. President Trump is expected to sign it. But when all was said and done, the S&P 500 fell about 5 percent, stocks in Europe were sharply lower and oil prices cratered.

The American oil benchmark, West Texas Intermediate, dropped 24 percent to just over $20 a barrel, the lowest price since 2003. The global Brent benchmark fell to just above $25 a barrel, a level just below January 2016. Oil prices are more than 60 percent below where they were at the beginning of the year.

… and in Canada:

Canada’s main stock market fell to a near seven-year low and the loonie declined by as much as 3.1 per cent on Wednesday as investors priced in a coronavirus-driven global recession into stock and commodity markets even as Ottawa rolled out economic stimulus.

The Toronto Stock Exchange Composite Index closed down 7.6 per cent at 11,721.42, having hit its lowest intraday level since July 2012 at 11,384.06. The index has fallen about 35 per cent from its Feb. 28 peak.

The sector with the biggest decline on the TSX was energy, down 12.5 per cent, as the price of oil, one of Canada’s major exports, extended its recent slide. U.S. crude oil futures plunged to a 18-year low, settling with a decline of 24.4 per cent at $20.37 a barrel.

The Canadian dollar touched its weakest intraday level since January 2016 at 1.4650 per U.S. dollar. It was last at 1.4459, down 1.8 per cent.

Canada’s annual inflation rate dropped to 2.2 per cent in February on moderating gasoline prices, Statistics Canada said, with some analysts saying it was unlikely stay above the central bank’s 2 per cent target.

Canadian government bond yields were higher across a steeper yield curve in sympathy with U.S. Treasuries as investors braced for increased fiscal spending. The 10-year yield was up 8.8 basis points at 1.044 per cent.

So let’s pretend that it’s not happening!

The unprecedented intensity of the continuing global market crash is fuelling calls in the United States and Canada for a rarely used provision – shutting down stock exchanges to prevent markets from collapsing entirely.

On Wednesday, pandemic fear gripped financial markets once again, twice triggering market-wide trading halts in the U.S. and Canada for the fourth day out of the past eight.

Trillions of dollars of investor money are evaporating at stunning speed, as markets grapple with the potential economic cost of the outbreak.

“If the market is so dislocated that the purpose of the market isn’t functioning, in terms of trading and being able to manage risk, why is it open?” said Jason Mann, chief investment officer at Toronto-based Edgehill Partners.

On the bright side, fodder for future learned articles was provided by the inverted liquidity of the Bond/ETF market:

A rush to sell global bonds in the past week has now rippled into the world of exchange-traded funds with some of the most actively traded seeing the most bulging gaps relative to the value of underlying holdings in years.

Exchange-traded funds offer liquidity in different asset classes and have become in recent years a one-stop shop for investors and traders to access different markets and get trading liquidity in previous illiquid parts of the market.

With liquidity drying up across the board, funds trying to offload any sizeable holdings are having to sell at lower prices than quoted on trading platforms, market players said.

“There is massive selling pressure on bond ETFs and funds – when you provide NAV on an over-the-counter product with very little bids similar to what you are currently seeing in the bond market, it becomes a stampede to get out,” said a portfolio manager at a European fund in Hong Kong.

Hmmm … sorta reminds you of the Canadian preferred share market, eh?

Speaking of the Canadian preferred share market …

TXPR closed at 402.36, down 6.58% on the day. Volume today was a stunning 7.86-million, highest of the past 30 trading days and well ahead of second-place March 17.

CPD closed at 7.96, down 8.82% on the day. Volume of 134,559 was the lowest since March 6.

ZPR closed at 6.28, down 6.69% on the day. Volume of 760,460 was the lowest since March 6

Five-year Canada yields were up 11bp to 0.92% today.

PerpetualDiscounts now yield 7.10%, equivalent to 9.23% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.54%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened dramatically to 570bp from the 445bp reported March 11. Today’s figure blows the old record right out of the water: 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.

Again, not going to check suspicious quotes today, there are too many of them!

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 -9.0784 % 1,185.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 -9.0784 % 2,175.4
Floater 9.13 % 9.33 % 57,873 10.14 4 -9.0784 % 1,253.7
OpRet 0.00 % 0.00 % 0 0.00 0 -15.0911 % 2,728.9
SplitShare 6.08 % 11.69 % 75,771 3.88 7 -15.0911 % 3,258.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -15.0911 % 2,542.7
Perpetual-Premium 8.09 % 8.25 % 93,881 11.06 12 -12.3998 % 2,105.4
Perpetual-Discount 7.14 % 7.10 % 83,749 12.36 24 -8.2391 % 2,452.2
FixedReset Disc 9.32 % 8.20 % 215,461 10.90 64 -7.9270 % 1,293.0
Deemed-Retractible 7.26 % 8.23 % 91,627 11.21 27 -10.4187 % 2,327.6
FloatingReset 6.62 % 6.64 % 66,613 12.93 3 -10.2412 % 1,422.1
FixedReset Prem 7.19 % 7.26 % 187,955 12.23 22 -7.0514 % 1,886.9
FixedReset Bank Non 2.40 % 17.49 % 118,257 1.76 3 -7.7714 % 2,211.7
FixedReset Ins Non 9.37 % 8.59 % 123,616 10.73 22 -5.8197 % 1,270.4
Performance Highlights
Issue Index Change Notes
BAM.PF.G FixedReset Disc -30.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 8.50
Evaluated at bid price : 8.50
Bid-YTW : 10.93 %
IAF.PR.B Deemed-Retractible -30.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 12.03
Evaluated at bid price : 12.03
Bid-YTW : 9.64 %
ELF.PR.H Perpetual-Premium -27.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.01
Evaluated at bid price : 15.01
Bid-YTW : 9.42 %
POW.PR.A Perpetual-Premium -25.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 10.24 %
PVS.PR.G SplitShare -25.27 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 17.00
Bid-YTW : 12.87 %
MFC.PR.N FixedReset Ins Non -25.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.61
Evaluated at bid price : 7.61
Bid-YTW : 10.45 %
HSE.PR.A FixedReset Disc -24.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 4.21
Evaluated at bid price : 4.21
Bid-YTW : 15.36 %
PVS.PR.H SplitShare -24.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 17.50
Bid-YTW : 11.10 %
HSE.PR.E FixedReset Disc -23.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.00
Evaluated at bid price : 7.00
Bid-YTW : 15.97 %
PVS.PR.F SplitShare -22.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 18.50
Bid-YTW : 12.61 %
HSE.PR.C FixedReset Disc -22.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.20
Evaluated at bid price : 7.20
Bid-YTW : 15.20 %
HSE.PR.G FixedReset Disc -21.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 6.51
Evaluated at bid price : 6.51
Bid-YTW : 16.99 %
BNS.PR.H FixedReset Prem -19.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 8.53 %
BAM.PR.T FixedReset Disc -19.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 8.32
Evaluated at bid price : 8.32
Bid-YTW : 9.70 %
BAM.PF.F FixedReset Disc -18.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.01
Evaluated at bid price : 10.01
Bid-YTW : 9.61 %
BAM.PR.X FixedReset Disc -18.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.06
Evaluated at bid price : 7.06
Bid-YTW : 9.48 %
BAM.PF.B FixedReset Disc -17.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.31
Evaluated at bid price : 10.31
Bid-YTW : 9.21 %
BAM.PF.A FixedReset Disc -17.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 9.14 %
GWO.PR.T Deemed-Retractible -17.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 8.65 %
IFC.PR.I Perpetual-Premium -16.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.84 %
PWF.PR.Q FloatingReset -15.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.50
Evaluated at bid price : 7.50
Bid-YTW : 6.64 %
GWO.PR.M Deemed-Retractible -15.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 8.59 %
GWO.PR.S Deemed-Retractible -15.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.51
Evaluated at bid price : 15.51
Bid-YTW : 8.52 %
CU.PR.I FixedReset Prem -14.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.02 %
MFC.PR.C Deemed-Retractible -14.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.91
Evaluated at bid price : 13.91
Bid-YTW : 8.17 %
PVS.PR.E SplitShare -14.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 20.50
Bid-YTW : 14.12 %
POW.PR.D Perpetual-Discount -14.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 8.33 %
GWO.PR.P Deemed-Retractible -14.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.05
Evaluated at bid price : 16.05
Bid-YTW : 8.47 %
CU.PR.H Perpetual-Discount -13.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.18 %
GWO.PR.Q Deemed-Retractible -13.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.29
Evaluated at bid price : 15.29
Bid-YTW : 8.48 %
BAM.PR.R FixedReset Disc -13.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 8.90
Evaluated at bid price : 8.90
Bid-YTW : 8.85 %
BIK.PR.A FixedReset Prem -13.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.54 %
MFC.PR.B Deemed-Retractible -13.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.10
Evaluated at bid price : 15.10
Bid-YTW : 7.77 %
IFC.PR.E Deemed-Retractible -13.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 7.45 %
POW.PR.B Perpetual-Discount -13.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 8.69 %
BAM.PF.J FixedReset Prem -13.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 7.35 %
IFC.PR.F Deemed-Retractible -13.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.62 %
BIP.PR.A FixedReset Disc -13.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.65
Evaluated at bid price : 10.65
Bid-YTW : 10.42 %
BAM.PF.I FixedReset Prem -13.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.10 %
SLF.PR.D Deemed-Retractible -12.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.12
Evaluated at bid price : 14.12
Bid-YTW : 7.93 %
BIP.PR.F FixedReset Disc -12.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 8.56 %
BNS.PR.Z FixedReset Bank Non -12.45 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.00
Bid-YTW : 21.26 %
MFC.PR.I FixedReset Ins Non -12.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 9.69 %
PWF.PR.P FixedReset Disc -12.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.05
Evaluated at bid price : 7.05
Bid-YTW : 8.82 %
PWF.PR.O Perpetual-Premium -12.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 8.42 %
GWO.PR.F Deemed-Retractible -11.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 8.23 %
BIP.PR.E FixedReset Disc -11.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 8.53 %
SLF.PR.B Deemed-Retractible -11.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 7.87 %
CIU.PR.A Perpetual-Discount -11.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 7.10 %
EML.PR.A FixedReset Ins Non -11.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 8.59 %
BAM.PR.Z FixedReset Disc -11.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 8.73 %
TRP.PR.A FixedReset Disc -11.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 8.16
Evaluated at bid price : 8.16
Bid-YTW : 9.32 %
BAM.PF.E FixedReset Disc -11.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 9.75
Evaluated at bid price : 9.75
Bid-YTW : 8.76 %
GWO.PR.G Deemed-Retractible -11.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 8.05 %
GWO.PR.L Deemed-Retractible -11.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.09
Evaluated at bid price : 17.09
Bid-YTW : 8.32 %
CM.PR.Y FixedReset Disc -11.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.85
Evaluated at bid price : 14.85
Bid-YTW : 8.07 %
TD.PF.M FixedReset Disc -11.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 7.59 %
BAM.PR.B Floater -10.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 6.47
Evaluated at bid price : 6.47
Bid-YTW : 9.39 %
BAM.PR.K Floater -10.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 6.46
Evaluated at bid price : 6.46
Bid-YTW : 9.41 %
SLF.PR.C Deemed-Retractible -10.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.30
Evaluated at bid price : 14.30
Bid-YTW : 7.83 %
PWF.PR.K Perpetual-Discount -10.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.22
Evaluated at bid price : 15.22
Bid-YTW : 8.31 %
EMA.PR.F FixedReset Disc -10.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 8.24 %
GWO.PR.I Deemed-Retractible -10.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.45
Evaluated at bid price : 14.45
Bid-YTW : 7.84 %
BAM.PR.C Floater -10.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 6.51
Evaluated at bid price : 6.51
Bid-YTW : 9.33 %
TRP.PR.D FixedReset Disc -10.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 9.24
Evaluated at bid price : 9.24
Bid-YTW : 9.56 %
CCS.PR.C Deemed-Retractible -10.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 7.49 %
POW.PR.C Perpetual-Premium -10.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 8.26 %
BIP.PR.C FixedReset Prem -10.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 8.74 %
CM.PR.T FixedReset Disc -9.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.01
Evaluated at bid price : 14.01
Bid-YTW : 8.14 %
PWF.PR.I Perpetual-Premium -9.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 8.03 %
PWF.PR.E Perpetual-Premium -9.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 8.49 %
SLF.PR.A Deemed-Retractible -9.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 7.79 %
CU.PR.D Perpetual-Discount -9.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.07
Evaluated at bid price : 18.07
Bid-YTW : 6.86 %
SLF.PR.E Deemed-Retractible -9.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 7.70 %
BIP.PR.B FixedReset Prem -8.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 8.52 %
GWO.PR.H Deemed-Retractible -8.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.75 %
POW.PR.G Perpetual-Premium -8.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.18
Evaluated at bid price : 17.18
Bid-YTW : 8.36 %
CU.PR.E Perpetual-Discount -8.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 6.79 %
PWF.PR.R Perpetual-Premium -8.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.03
Evaluated at bid price : 17.03
Bid-YTW : 8.25 %
BMO.PR.Z Perpetual-Discount -8.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 6.33 %
NA.PR.A FixedReset Prem -8.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 8.22 %
GWO.PR.R Deemed-Retractible -8.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.55
Evaluated at bid price : 15.55
Bid-YTW : 7.77 %
W.PR.M FixedReset Prem -8.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 8.57 %
PWF.PR.F Perpetual-Discount -8.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 8.31 %
MFC.PR.O FixedReset Ins Non -8.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.48 %
RY.PR.M FixedReset Disc -8.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.65
Evaluated at bid price : 11.65
Bid-YTW : 7.55 %
BNS.PR.E FixedReset Prem -8.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 7.41 %
TD.PF.D FixedReset Disc -8.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 8.20 %
CU.PR.G Perpetual-Discount -8.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.09
Evaluated at bid price : 17.09
Bid-YTW : 6.66 %
SLF.PR.J FloatingReset -7.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.50
Evaluated at bid price : 7.50
Bid-YTW : 5.91 %
CM.PR.S FixedReset Disc -7.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.06
Evaluated at bid price : 11.06
Bid-YTW : 8.26 %
PWF.PR.T FixedReset Disc -7.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 8.53 %
CU.PR.F Perpetual-Discount -7.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 6.60 %
TRP.PR.C FixedReset Disc -7.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 6.50
Evaluated at bid price : 6.50
Bid-YTW : 9.34 %
PWF.PR.G Perpetual-Premium -7.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.69
Evaluated at bid price : 18.69
Bid-YTW : 8.06 %
TD.PF.L FixedReset Disc -7.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 7.74 %
RY.PR.N Perpetual-Discount -7.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 19.04
Evaluated at bid price : 19.04
Bid-YTW : 6.52 %
TD.PF.F Perpetual-Discount -7.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 19.57
Evaluated at bid price : 19.57
Bid-YTW : 6.37 %
BAM.PF.D Perpetual-Discount -7.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.63
Evaluated at bid price : 15.63
Bid-YTW : 7.89 %
BIP.PR.D FixedReset Disc -7.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 8.17 %
EIT.PR.B SplitShare -7.28 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 21.65
Bid-YTW : 8.18 %
BMO.PR.Q FixedReset Bank Non -7.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.02
Bid-YTW : 17.49 %
TD.PF.J FixedReset Disc -7.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 12.28
Evaluated at bid price : 12.28
Bid-YTW : 7.92 %
EMA.PR.E Perpetual-Discount -7.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.51 %
BAM.PR.M Perpetual-Discount -6.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 7.79 %
NA.PR.X FixedReset Prem -6.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.91
Evaluated at bid price : 17.91
Bid-YTW : 8.14 %
BAM.PF.C Perpetual-Discount -6.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.66
Evaluated at bid price : 15.66
Bid-YTW : 7.79 %
PWF.PR.H Perpetual-Premium -6.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 8.25 %
PWF.PR.L Perpetual-Discount -6.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.85
Evaluated at bid price : 15.85
Bid-YTW : 8.22 %
EIT.PR.A SplitShare -6.77 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 22.05
Bid-YTW : 8.40 %
MFC.PR.Q FixedReset Ins Non -6.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.42
Evaluated at bid price : 10.42
Bid-YTW : 9.02 %
TRP.PR.F FloatingReset -6.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.70
Evaluated at bid price : 7.70
Bid-YTW : 7.43 %
BAM.PR.N Perpetual-Discount -6.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 7.79 %
MFC.PR.L FixedReset Ins Non -6.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 9.36
Evaluated at bid price : 9.36
Bid-YTW : 8.77 %
GWO.PR.N FixedReset Ins Non -6.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.68
Evaluated at bid price : 7.68
Bid-YTW : 7.01 %
PWF.PR.S Perpetual-Discount -6.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 7.90 %
MFC.PR.G FixedReset Ins Non -6.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.40
Evaluated at bid price : 10.40
Bid-YTW : 9.14 %
NA.PR.G FixedReset Disc -6.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 8.64 %
PVS.PR.D SplitShare -5.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 22.56
Bid-YTW : 11.69 %
W.PR.K FixedReset Prem -5.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 8.03 %
RY.PR.O Perpetual-Discount -5.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.36 %
MFC.PR.R FixedReset Ins Non -5.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.26
Evaluated at bid price : 13.26
Bid-YTW : 8.95 %
ELF.PR.G Perpetual-Discount -5.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 7.08 %
BMO.PR.B FixedReset Prem -5.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 7.26 %
BAM.PF.H FixedReset Prem -4.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.81 %
RY.PR.P Perpetual-Premium -4.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.55 %
TD.PF.K FixedReset Disc -4.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 7.64 %
BMO.PR.E FixedReset Disc -4.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 7.50 %
BMO.PR.F FixedReset Disc -4.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.11
Evaluated at bid price : 15.11
Bid-YTW : 7.67 %
NA.PR.W FixedReset Disc -4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 8.55 %
PWF.PR.A Floater -4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.00
Evaluated at bid price : 7.00
Bid-YTW : 8.79 %
SLF.PR.H FixedReset Ins Non -4.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 9.66
Evaluated at bid price : 9.66
Bid-YTW : 7.79 %
TD.PF.E FixedReset Disc -4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 12.41
Evaluated at bid price : 12.41
Bid-YTW : 7.63 %
NA.PR.S FixedReset Disc -4.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.16
Evaluated at bid price : 10.16
Bid-YTW : 8.75 %
TD.PF.H FixedReset Prem -4.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 7.29 %
IFC.PR.A FixedReset Ins Non -4.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 8.60
Evaluated at bid price : 8.60
Bid-YTW : 7.98 %
MFC.PR.J FixedReset Ins Non -4.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.81
Evaluated at bid price : 10.81
Bid-YTW : 8.75 %
RY.PR.W Perpetual-Discount -4.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.20 %
RY.PR.Q FixedReset Prem -4.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.90 %
TRP.PR.E FixedReset Disc -4.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 9.52
Evaluated at bid price : 9.52
Bid-YTW : 9.12 %
BNS.PR.Y FixedReset Bank Non -4.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.20
Bid-YTW : 8.61 %
PWF.PR.Z Perpetual-Discount -4.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 7.97 %
NA.PR.C FixedReset Disc -4.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.10
Evaluated at bid price : 13.10
Bid-YTW : 8.37 %
CM.PR.R FixedReset Disc -3.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 8.21 %
BMO.PR.W FixedReset Disc -3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 7.95 %
MFC.PR.H FixedReset Ins Non -3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.10
Evaluated at bid price : 11.10
Bid-YTW : 9.16 %
TD.PF.G FixedReset Prem -3.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.92 %
MFC.PR.K FixedReset Ins Non -3.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.05
Evaluated at bid price : 10.05
Bid-YTW : 8.58 %
TD.PF.I FixedReset Disc -3.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.52
Evaluated at bid price : 13.52
Bid-YTW : 7.49 %
RY.PR.J FixedReset Disc -3.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 12.70
Evaluated at bid price : 12.70
Bid-YTW : 7.15 %
CM.PR.P FixedReset Disc -3.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.25
Evaluated at bid price : 10.25
Bid-YTW : 8.45 %
CM.PR.Q FixedReset Disc -3.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.81
Evaluated at bid price : 10.81
Bid-YTW : 8.58 %
RY.PR.Z FixedReset Disc -2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.64
Evaluated at bid price : 10.64
Bid-YTW : 7.73 %
NA.PR.E FixedReset Disc -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.18
Evaluated at bid price : 11.18
Bid-YTW : 8.44 %
TD.PF.B FixedReset Disc -2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.66
Evaluated at bid price : 10.66
Bid-YTW : 7.87 %
TRP.PR.G FixedReset Disc -2.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.91
Evaluated at bid price : 10.91
Bid-YTW : 8.85 %
RY.PR.H FixedReset Disc -2.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 7.57 %
BNS.PR.I FixedReset Disc -2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.19
Evaluated at bid price : 13.19
Bid-YTW : 7.13 %
EMA.PR.C FixedReset Disc -2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 12.15
Evaluated at bid price : 12.15
Bid-YTW : 7.95 %
CM.PR.O FixedReset Disc -2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.02
Evaluated at bid price : 10.02
Bid-YTW : 8.55 %
SLF.PR.G FixedReset Ins Non -2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 7.62
Evaluated at bid price : 7.62
Bid-YTW : 7.43 %
RY.PR.R FixedReset Prem -2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 20.77
Evaluated at bid price : 20.77
Bid-YTW : 6.87 %
BMO.PR.S FixedReset Disc -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 8.08 %
TD.PF.A FixedReset Disc -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.61
Evaluated at bid price : 10.61
Bid-YTW : 7.87 %
RY.PR.S FixedReset Disc -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 6.92 %
IAF.PR.G FixedReset Ins Non -2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 8.68 %
IFC.PR.G FixedReset Ins Non -2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 8.02 %
BMO.PR.Y FixedReset Disc -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 12.16
Evaluated at bid price : 12.16
Bid-YTW : 7.41 %
BMO.PR.T FixedReset Disc -1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.55
Evaluated at bid price : 10.55
Bid-YTW : 7.81 %
BNS.PR.G FixedReset Prem -1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 7.05 %
SLF.PR.I FixedReset Ins Non -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.56
Evaluated at bid price : 10.56
Bid-YTW : 8.59 %
IFC.PR.C FixedReset Ins Non -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 8.27 %
TD.PF.C FixedReset Disc -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.90
Evaluated at bid price : 10.90
Bid-YTW : 7.89 %
RY.PR.F Deemed-Retractible -1.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.45
Bid-YTW : 10.85 %
TRP.PR.B FixedReset Disc -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 6.40
Evaluated at bid price : 6.40
Bid-YTW : 8.34 %
RY.PR.C Deemed-Retractible -1.31 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.60
Bid-YTW : 10.63 %
MFC.PR.M FixedReset Ins Non -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 8.60 %
RY.PR.A Deemed-Retractible -1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.57
Bid-YTW : 10.53 %
TRP.PR.K FixedReset Prem 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.93
Evaluated at bid price : 18.93
Bid-YTW : 6.55 %
CU.PR.C FixedReset Disc 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.25
Evaluated at bid price : 10.25
Bid-YTW : 8.08 %
Volume Highlights
Issue Index Shares
Traded
Notes
TRP.PR.B FixedReset Disc 871,450 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 6.40
Evaluated at bid price : 6.40
Bid-YTW : 8.34 %
BMO.PR.B FixedReset Prem 463,162 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 7.26 %
CM.PR.P FixedReset Disc 451,874 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.25
Evaluated at bid price : 10.25
Bid-YTW : 8.45 %
RY.PR.Q FixedReset Prem 426,579 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.90 %
BNS.PR.E FixedReset Prem 411,068 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 7.41 %
SLF.PR.A Deemed-Retractible 342,817 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 7.79 %
MFC.PR.O FixedReset Ins Non 308,089 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.48 %
RY.PR.R FixedReset Prem 244,802 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 20.77
Evaluated at bid price : 20.77
Bid-YTW : 6.87 %
BNS.PR.Z FixedReset Bank Non 104,584 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.00
Bid-YTW : 21.26 %
There were 103 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.A FixedReset Disc Quote: 8.16 – 14.00
Spot Rate : 5.8400
Average : 3.1837

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 8.16
Evaluated at bid price : 8.16
Bid-YTW : 9.32 %

CCS.PR.C Deemed-Retractible Quote: 16.80 – 22.32
Spot Rate : 5.5200
Average : 3.1023

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 7.49 %

TRP.PR.G FixedReset Disc Quote: 10.91 – 16.22
Spot Rate : 5.3100
Average : 2.9332

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 10.91
Evaluated at bid price : 10.91
Bid-YTW : 8.85 %

W.PR.M FixedReset Prem Quote: 16.00 – 21.60
Spot Rate : 5.6000
Average : 3.3201

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 8.57 %

BAM.PF.I FixedReset Prem Quote: 17.00 – 24.65
Spot Rate : 7.6500
Average : 5.3924

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.10 %

ELF.PR.H Perpetual-Premium Quote: 15.01 – 20.00
Spot Rate : 4.9900
Average : 2.9128

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-18
Maturity Price : 15.01
Evaluated at bid price : 15.01
Bid-YTW : 9.42 %

March 17, 2020

Tuesday, March 17th, 2020

After an extremely slow start, Trump has apparently decided that his re-election prospects depend on largesse:

The Trump administration called on Tuesday for urgent action to speed $1 trillion into the economy, including sending $250 billion worth of checks to millions of Americans, as the government prepared its most powerful tools to fight the coronavirus pandemic and an almost certain recession.

During lunch on Capitol Hill not long after, Mr. Mnuchin privately told Republican senators that he envisioned the direct payments covering two weeks of pay and going out by the end of April, according to three people familiar with the discussion who described it on the condition of anonymity. Additional checks would be possible if the national emergency persists, Mr. Mnuchin told the group.

The tone of the lunch conversation was grim. Mr. Mnuchin warned darkly that without forceful government intervention, the unemployment rate could rise to nearly 20 percent, according to people familiar with the session, who described his comments on the condition of anonymity. A Treasury spokesperson said that Mr. Mnuchin was just using a mathematical example and that he did not believe the jobless rate would get that high.

Helicopter money, indeed! All this had an effect:

After suffering their worst day in decades, stocks bounced back on Tuesday as Washington policymakers talked up plans to try to cushion an economy careening toward a deep recession driven by the coronavirus outbreak.

The S&P 500 rose 6 percent, rebounding from a 12 percent collapse on Monday, which was its steepest drop since 1987.

Early trading was unsteady, and stocks briefly fell into negative territory. They then surged after the Federal Reserve said it would use its emergency lending powers to try to keep credit flowing to households and businesses in the United States by buying up commercial paper. Shares in Europe also recovered from early losses to end higher.

On Tuesday, economists from S&P Global Ratings wrote that they expected the United States’ economy to shrink by 1 percent in the first quarter, and 6 percent in the second quarter, putting the country in recession. That 6 percent drop would be the sharpest falloff in economic activity since 2008.

Meanwhile, in the frozen north:

The federal government will unveil nearly $30-billion of emergency financial aid on Wednesday to help struggling Canadians and businesses cope with the economic fallout from the new coronavirus crisis, sources say.

Prime Minister Justin Trudeau and Finance Minister Bill Morneau will announce immediate financial assistance to Canadians who have been left without a job because of business closings, including self-employed and part-time workers unable to collect regular employment-insurance benefits, according to the sources.

The package will include immediate financial relief, but part of the almost $30-billion will be set aside to boost the economy toward the end of the crisis, insiders say. Further measures are also planned to target hard-hit sectors of the economy in the coming weeks, the sources said.

Because the EI system can be slow to adjust to an economic shock, Prof. [Miles] Corak [an economics professor with the Graduate Center of the City University of New York who served as economist in residence in 2017 with the Canadian federal department responsible for Employment Insurance and social policy] said Ottawa should consider the idea of “helicopter” payments, in which money is sent directly to all or many Canadians.

He said the tradeoff in terms of failing to target the money to those most in need is worth the benefit of speed in this case.

“We expect business investment and exports to post substantial declines and consumer spending to ease. As a result, economic growth will contract by a projected 2.7 per cent in the second quarter,” said Matthew Stewart, the director of national forecast at the Conference Board of Canada. “However, due to the unpredictability of the coronavirus, there are still huge downside risks to the outlook.”

… and in Canadian markets:

The Toronto Stock Exchange’s S&P/TSX composite index was unofficially up 324.81 points, or 2.63%, at 12,685,21. On Monday, the index had plummeted nearly 10%.

Materials stocks jumped 9.2%, while industrials rose 3.4% and the heavyweight financial sector increased 1.9%.

The energy sector dropped 9.2%, facing continued pressure from weak oil prices following a shock crash last week.

An early rebound in European markets was wiped out as the region’s battered airline and travel stocks suffered a drubbing.

Data showed German investor morale at lows last seen in the 2008 financial crisis, and rating agency S&P Global warned the inevitable global recession this year would lead to a spike in defaults.

Brent crude futures slid $1.32 to settle at $28.73 a barrel and West Texas Intermediate crude futures fell $1.75 to settle at $26.95 a barrel. The U.S. benchmark has slumped more than 50% since Jan. 2.

He said the tradeoff in terms of failing to target the money to those most in need is worth the benefit of speed in this case.

So there’s a bunch of interesting things going on here: first of all, helicopter money is supposed to fuel inflation; I don’t know if a mere trillion will be enough to do that. The comment about defaults is interesting. I think that ultimately the coronavirus outbreak will not have long-term effects for investment-grade investors. Junk, however, might get hammered due to defaults; and those individuals who have extended themselves to the limit to buy large houses might soon wish they hadn’t. There wasn’t much evidence of preferred share pricing reflecting differential credit quality this as of last Friday, but we shall see how things work out moving forward, one way or another.

But inflation? The Canada 5-Year Yield was up 19bp today to 0.80%, while the 30-year was up 16bp to 1.41%, which is the highest yield since February 20 when this mess got going. Sixteen Basis Points on a long Canada? That’s like, at least two and a half bucks price change (per $100 par value) on long bonds, given that the duration of ZFL, the BMO Long Federal Bond Index ETF is reported as 16.80 (I don’t know if they mean Modified or Macaulay Duration). Fortunes were made and lost today. Fortunes!

Husky has announced a $1-billion reduction in planned 2020 spending:

Husky Energy is taking a series of actions to fortify its business in response to challenging global market conditions.

These initiatives reflect the Company’s commitment to capital discipline, which includes maintaining the strength of its balance sheet while protecting value in an extended low commodity price environment. Husky’s drive to improve process and occupational safety is unaffected and remains a top priority.

“Husky has three important advantages: a strong balance sheet, an Integrated Corridor which includes a sizeable downstream and midstream segment, and Offshore operations that include long-term gas contracts in the Asia Pacific region not linked to the price of oil,” said CEO Rob Peabody.

Given current market conditions Husky will commence the safe and orderly reduction, or shut-in, of production where it is cash negative on a variable cost basis at current prices.

Strong Balance Sheet and Liquidity

Total liquidity is $4.9 billion, comprised of $1.4 billion in cash and $3.5 billion in unused credit facilities. In line with its committed credit facilities, Husky is required to maintain debt to capital of no more than 65%, and is well below this threshold with a ratio of 27% with no long-term debt maturities until 2022.

2020 Capital Program Reduced by $900 Million; Further Cost Reductions of $100 Million …

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 2.4665 % 1,303.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 2.4665 % 2,392.6
Floater 8.30 % 8.37 % 56,510 11.01 4 2.4665 % 1,378.9
OpRet 0.00 % 0.00 % 0 0.00 0 1.0684 % 3,213.9
SplitShare 5.16 % 6.41 % 70,681 4.03 7 1.0684 % 3,838.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 1.0684 % 2,994.6
Perpetual-Premium 7.09 % 7.42 % 95,410 11.98 12 -2.3432 % 2,403.4
Perpetual-Discount 6.55 % 6.25 % 81,648 13.56 24 -0.4271 % 2,672.3
FixedReset Disc 8.58 % 7.22 % 208,902 11.90 64 -0.8088 % 1,404.3
Deemed-Retractible 6.51 % 7.14 % 90,555 12.44 27 -1.8851 % 2,598.3
FloatingReset 5.97 % 5.61 % 66,896 14.43 3 12.7005 % 1,584.4
FixedReset Prem 6.68 % 6.59 % 175,597 13.03 22 -0.3695 % 2,030.0
FixedReset Bank Non 2.21 % 13.01 % 114,208 1.78 3 2.3267 % 2,398.0
FixedReset Ins Non 8.83 % 7.78 % 121,327 11.31 22 2.3804 % 1,348.9
Performance Highlights
Issue Index Change Notes
CU.PR.C FixedReset Disc -19.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.10
Evaluated at bid price : 10.10
Bid-YTW : 7.68 %
PWF.PR.G Perpetual-Premium -6.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.26
Evaluated at bid price : 20.26
Bid-YTW : 7.42 %
EML.PR.A FixedReset Ins Non -6.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 7.28 %
TD.PF.D FixedReset Disc -6.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 7.03 %
PWF.PR.Z Perpetual-Discount -6.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 7.64 %
GWO.PR.R Deemed-Retractible -5.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.10 %
BIK.PR.A FixedReset Prem -5.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.35 %
BAM.PF.D Perpetual-Discount -5.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.88
Evaluated at bid price : 16.88
Bid-YTW : 7.30 %
POW.PR.A Perpetual-Premium -5.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.89
Evaluated at bid price : 18.89
Bid-YTW : 7.59 %
PWF.PR.H Perpetual-Premium -5.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 7.67 %
TD.PF.H FixedReset Prem -5.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.13
Evaluated at bid price : 18.13
Bid-YTW : 6.65 %
GWO.PR.Q Deemed-Retractible -4.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.76
Evaluated at bid price : 17.76
Bid-YTW : 7.29 %
GWO.PR.P Deemed-Retractible -4.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 7.24 %
POW.PR.G Perpetual-Premium -4.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.60 %
EIT.PR.A SplitShare -4.48 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 23.65
Bid-YTW : 6.40 %
MFC.PR.R FixedReset Ins Non -4.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 8.09 %
BMO.PR.F FixedReset Disc -4.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 15.88
Evaluated at bid price : 15.88
Bid-YTW : 6.99 %
POW.PR.B Perpetual-Discount -4.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.50 %
GWO.PR.S Deemed-Retractible -4.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.28
Evaluated at bid price : 18.28
Bid-YTW : 7.22 %
BMO.PR.C FixedReset Disc -4.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 14.91
Evaluated at bid price : 14.91
Bid-YTW : 6.82 %
PWF.PR.S Perpetual-Discount -3.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.53
Evaluated at bid price : 16.53
Bid-YTW : 7.40 %
PWF.PR.F Perpetual-Discount -3.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.62
Evaluated at bid price : 17.62
Bid-YTW : 7.60 %
MFC.PR.O FixedReset Ins Non -3.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.81
Evaluated at bid price : 18.81
Bid-YTW : 7.47 %
PWF.PR.O Perpetual-Premium -3.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.39 %
RY.PR.H FixedReset Disc -3.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.23
Evaluated at bid price : 11.23
Bid-YTW : 6.97 %
POW.PR.C Perpetual-Premium -3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 7.42 %
HSE.PR.G FixedReset Disc -3.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 8.25
Evaluated at bid price : 8.25
Bid-YTW : 12.62 %
BMO.PR.T FixedReset Disc -3.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.76
Evaluated at bid price : 10.76
Bid-YTW : 7.24 %
TD.PF.C FixedReset Disc -3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.10
Evaluated at bid price : 11.10
Bid-YTW : 7.35 %
GWO.PR.H Deemed-Retractible -3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.29
Evaluated at bid price : 17.29
Bid-YTW : 7.05 %
CM.PR.O FixedReset Disc -3.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.26
Evaluated at bid price : 10.26
Bid-YTW : 7.91 %
NA.PR.X FixedReset Prem -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.27 %
CCS.PR.C Deemed-Retractible -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 6.73 %
GWO.PR.I Deemed-Retractible -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.10
Evaluated at bid price : 16.10
Bid-YTW : 7.03 %
TD.PF.B FixedReset Disc -3.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.96
Evaluated at bid price : 10.96
Bid-YTW : 7.23 %
PWF.PR.R Perpetual-Premium -3.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 7.52 %
SLF.PR.C Deemed-Retractible -3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 6.99 %
PWF.PR.P FixedReset Disc -3.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 8.02
Evaluated at bid price : 8.02
Bid-YTW : 7.01 %
GWO.PR.T Deemed-Retractible -3.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 7.15 %
GWO.PR.L Deemed-Retractible -2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.26
Evaluated at bid price : 19.26
Bid-YTW : 7.38 %
BAM.PR.N Perpetual-Discount -2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 7.28 %
BAM.PR.M Perpetual-Discount -2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 7.24 %
RY.PR.Z FixedReset Disc -2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 7.08 %
NA.PR.A FixedReset Prem -2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 7.20 %
BAM.PF.C Perpetual-Discount -2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.82
Evaluated at bid price : 16.82
Bid-YTW : 7.25 %
NA.PR.W FixedReset Disc -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.50
Evaluated at bid price : 10.50
Bid-YTW : 7.71 %
TD.PF.L FixedReset Disc -2.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 15.81
Evaluated at bid price : 15.81
Bid-YTW : 6.82 %
SLF.PR.E Deemed-Retractible -2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.20
Evaluated at bid price : 16.20
Bid-YTW : 6.98 %
PWF.PR.K Perpetual-Discount -2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.42 %
RY.PR.J FixedReset Disc -2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 6.43 %
SLF.PR.A Deemed-Retractible -2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.98
Evaluated at bid price : 16.98
Bid-YTW : 7.03 %
BAM.PF.A FixedReset Disc -2.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 13.64
Evaluated at bid price : 13.64
Bid-YTW : 7.12 %
NA.PR.E FixedReset Disc -2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.75 %
GWO.PR.G Deemed-Retractible -2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.32
Evaluated at bid price : 18.32
Bid-YTW : 7.14 %
GWO.PR.F Deemed-Retractible -2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.24 %
SLF.PR.B Deemed-Retractible -2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 6.93 %
BMO.PR.D FixedReset Disc -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 14.21
Evaluated at bid price : 14.21
Bid-YTW : 6.90 %
BAM.PF.G FixedReset Disc -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 7.09 %
BMO.PR.W FixedReset Disc -2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.03
Evaluated at bid price : 11.03
Bid-YTW : 7.22 %
NA.PR.S FixedReset Disc -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.65
Evaluated at bid price : 10.65
Bid-YTW : 7.89 %
RY.PR.M FixedReset Disc -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.70
Evaluated at bid price : 12.70
Bid-YTW : 6.45 %
BNS.PR.H FixedReset Prem -2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.57 %
NA.PR.G FixedReset Disc -2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.69 %
NA.PR.C FixedReset Disc -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 13.65
Evaluated at bid price : 13.65
Bid-YTW : 7.66 %
SLF.PR.D Deemed-Retractible -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 6.93 %
RY.PR.F Deemed-Retractible -2.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.81
Bid-YTW : 9.90 %
RY.PR.C Deemed-Retractible -2.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.90
Bid-YTW : 9.84 %
BIP.PR.A FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 8.55 %
TD.PF.A FixedReset Disc -1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 7.27 %
TD.PF.E FixedReset Disc -1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 13.01
Evaluated at bid price : 13.01
Bid-YTW : 6.81 %
CU.PR.F Perpetual-Discount -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 6.07 %
PWF.PR.I Perpetual-Premium -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 7.23 %
IAF.PR.B Deemed-Retractible -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 6.70 %
BIP.PR.E FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 7.51 %
PWF.PR.L Perpetual-Discount -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.01
Evaluated at bid price : 17.01
Bid-YTW : 7.65 %
W.PR.K FixedReset Prem -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 7.59 %
BIP.PR.B FixedReset Prem -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 7.75 %
RY.PR.E Deemed-Retractible -1.64 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.80
Bid-YTW : 9.98 %
BMO.PR.B FixedReset Prem -1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.59 %
CM.PR.P FixedReset Disc -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 7.74 %
BAM.PF.B FixedReset Disc -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.55
Evaluated at bid price : 12.55
Bid-YTW : 7.11 %
CM.PR.S FixedReset Disc -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 7.14 %
CU.PR.D Perpetual-Discount -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 6.21 %
GWO.PR.M Deemed-Retractible -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 7.25 %
BAM.PF.H FixedReset Prem -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.46
Evaluated at bid price : 19.46
Bid-YTW : 6.46 %
POW.PR.D Perpetual-Discount -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.10 %
RY.PR.G Deemed-Retractible -1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.75
Bid-YTW : 10.11 %
CM.PR.Y FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.72
Evaluated at bid price : 16.72
Bid-YTW : 6.86 %
BNS.PR.Z FixedReset Bank Non 1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.56
Bid-YTW : 13.20 %
PVS.PR.G SplitShare 1.11 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.75
Bid-YTW : 6.83 %
IFC.PR.I Perpetual-Premium 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.52 %
BMO.PR.S FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.84
Evaluated at bid price : 10.84
Bid-YTW : 7.47 %
W.PR.M FixedReset Prem 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 17.48
Evaluated at bid price : 17.48
Bid-YTW : 7.61 %
PVS.PR.F SplitShare 1.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 23.80
Bid-YTW : 6.09 %
RY.PR.P Perpetual-Premium 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.22 %
BAM.PF.I FixedReset Prem 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.17 %
BMO.PR.E FixedReset Disc 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 13.72
Evaluated at bid price : 13.72
Bid-YTW : 6.75 %
BAM.PF.J FixedReset Prem 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.76
Evaluated at bid price : 18.76
Bid-YTW : 6.36 %
TD.PF.K FixedReset Disc 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 6.86 %
CM.PR.R FixedReset Disc 1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 13.79
Evaluated at bid price : 13.79
Bid-YTW : 7.51 %
IAF.PR.G FixedReset Ins Non 1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.99
Evaluated at bid price : 10.99
Bid-YTW : 8.02 %
TRP.PR.A FixedReset Disc 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 9.22
Evaluated at bid price : 9.22
Bid-YTW : 7.72 %
BIP.PR.D FixedReset Disc 2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 16.62
Evaluated at bid price : 16.62
Bid-YTW : 7.57 %
MFC.PR.K FixedReset Ins Non 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.42
Evaluated at bid price : 10.42
Bid-YTW : 7.78 %
HSE.PR.C FixedReset Disc 2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 9.25
Evaluated at bid price : 9.25
Bid-YTW : 11.23 %
EMA.PR.F FixedReset Disc 2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 12.83
Evaluated at bid price : 12.83
Bid-YTW : 7.00 %
ELF.PR.H Perpetual-Premium 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.75 %
RY.PR.O Perpetual-Discount 2.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.02 %
TRP.PR.B FixedReset Disc 2.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 6.49
Evaluated at bid price : 6.49
Bid-YTW : 7.29 %
MFC.PR.H FixedReset Ins Non 2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 8.34 %
SLF.PR.I FixedReset Ins Non 2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.76
Evaluated at bid price : 10.76
Bid-YTW : 7.92 %
RY.PR.N Perpetual-Discount 3.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.02 %
EMA.PR.H FixedReset Prem 3.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 21.94
Evaluated at bid price : 22.30
Bid-YTW : 5.54 %
IFC.PR.A FixedReset Ins Non 3.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 9.00
Evaluated at bid price : 9.00
Bid-YTW : 7.03 %
BAM.PR.K Floater 3.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.23
Evaluated at bid price : 7.23
Bid-YTW : 8.39 %
BAM.PR.T FixedReset Disc 3.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.32
Evaluated at bid price : 10.32
Bid-YTW : 7.27 %
CU.PR.H Perpetual-Discount 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.17 %
IFC.PR.F Deemed-Retractible 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.61 %
PWF.PR.T FixedReset Disc 3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 7.39 %
RY.PR.W Perpetual-Discount 3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 5.93 %
BAM.PR.B Floater 3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.25
Evaluated at bid price : 7.25
Bid-YTW : 8.37 %
BAM.PR.C Floater 3.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.25
Evaluated at bid price : 7.25
Bid-YTW : 8.37 %
MFC.PR.I FixedReset Ins Non 3.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.38
Evaluated at bid price : 11.38
Bid-YTW : 8.03 %
HSE.PR.E FixedReset Disc 4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 9.10
Evaluated at bid price : 9.10
Bid-YTW : 11.57 %
MFC.PR.N FixedReset Ins Non 4.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.15
Evaluated at bid price : 10.15
Bid-YTW : 7.21 %
TRP.PR.J FixedReset Prem 4.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.64 %
HSE.PR.A FixedReset Disc 4.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 5.58
Evaluated at bid price : 5.58
Bid-YTW : 10.56 %
TRP.PR.E FixedReset Disc 4.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 9.93
Evaluated at bid price : 9.93
Bid-YTW : 8.29 %
BAM.PR.X FixedReset Disc 4.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 8.68
Evaluated at bid price : 8.68
Bid-YTW : 7.09 %
TRP.PR.F FloatingReset 5.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 8.24
Evaluated at bid price : 8.24
Bid-YTW : 6.97 %
TRP.PR.D FixedReset Disc 5.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.28
Evaluated at bid price : 10.28
Bid-YTW : 8.09 %
MFC.PR.L FixedReset Ins Non 6.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 7.72 %
BMO.PR.Q FixedReset Bank Non 6.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.50
Bid-YTW : 13.01 %
TRP.PR.C FixedReset Disc 6.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.05
Evaluated at bid price : 7.05
Bid-YTW : 7.77 %
TRP.PR.K FixedReset Prem 6.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 6.62 %
BMO.PR.Z Perpetual-Discount 6.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 21.59
Evaluated at bid price : 21.90
Bid-YTW : 5.75 %
IAF.PR.I FixedReset Ins Non 6.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 8.02 %
MFC.PR.G FixedReset Ins Non 7.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.07
Evaluated at bid price : 11.07
Bid-YTW : 8.09 %
BAM.PR.R FixedReset Disc 7.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.32
Evaluated at bid price : 10.32
Bid-YTW : 7.09 %
CM.PR.Q FixedReset Disc 7.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 7.78 %
IFC.PR.C FixedReset Ins Non 7.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.80
Evaluated at bid price : 10.80
Bid-YTW : 7.61 %
TD.PF.F Perpetual-Discount 8.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 5.89 %
GWO.PR.N FixedReset Ins Non 9.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 8.20
Evaluated at bid price : 8.20
Bid-YTW : 5.85 %
EIT.PR.B SplitShare 9.88 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 23.35
Bid-YTW : 6.41 %
IFC.PR.E Deemed-Retractible 10.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.44 %
SLF.PR.G FixedReset Ins Non 11.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.80
Evaluated at bid price : 7.80
Bid-YTW : 6.48 %
MFC.PR.F FixedReset Ins Non 11.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.34
Evaluated at bid price : 7.34
Bid-YTW : 6.95 %
SLF.PR.H FixedReset Ins Non 11.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.13
Evaluated at bid price : 10.13
Bid-YTW : 6.89 %
PWF.PR.Q FloatingReset 14.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 8.90
Evaluated at bid price : 8.90
Bid-YTW : 5.61 %
SLF.PR.J FloatingReset 18.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 8.15
Evaluated at bid price : 8.15
Bid-YTW : 5.47 %
Volume Highlights
Issue Index Shares
Traded
Notes
MFC.PR.M FixedReset Ins Non 271,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.13
Evaluated at bid price : 10.13
Bid-YTW : 8.07 %
RY.PR.H FixedReset Disc 257,828 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.23
Evaluated at bid price : 11.23
Bid-YTW : 6.97 %
TD.PF.B FixedReset Disc 257,489 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.96
Evaluated at bid price : 10.96
Bid-YTW : 7.23 %
SLF.PR.H FixedReset Ins Non 219,503 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.13
Evaluated at bid price : 10.13
Bid-YTW : 6.89 %
BAM.PR.B Floater 147,316 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.25
Evaluated at bid price : 7.25
Bid-YTW : 8.37 %
BMO.PR.W FixedReset Disc 145,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.03
Evaluated at bid price : 11.03
Bid-YTW : 7.22 %
BAM.PR.K Floater 136,856 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 7.23
Evaluated at bid price : 7.23
Bid-YTW : 8.39 %
There were 100 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IAF.PR.G FixedReset Ins Non Quote: 10.99 – 19.80
Spot Rate : 8.8100
Average : 4.7640

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.99
Evaluated at bid price : 10.99
Bid-YTW : 8.02 %

NA.PR.E FixedReset Disc Quote: 11.50 – 17.50
Spot Rate : 6.0000
Average : 3.2145

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.75 %

CM.PR.Q FixedReset Disc Quote: 11.15 – 17.41
Spot Rate : 6.2600
Average : 3.5809

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 7.78 %

TRP.PR.E FixedReset Disc Quote: 9.93 – 15.40
Spot Rate : 5.4700
Average : 3.0399

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 9.93
Evaluated at bid price : 9.93
Bid-YTW : 8.29 %

BAM.PF.I FixedReset Prem Quote: 19.55 – 24.65
Spot Rate : 5.1000
Average : 2.9171

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.17 %

CU.PR.C FixedReset Disc Quote: 10.10 – 14.30
Spot Rate : 4.2000
Average : 2.4992

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-17
Maturity Price : 10.10
Evaluated at bid price : 10.10
Bid-YTW : 7.68 %

March 16, 2020

Tuesday, March 17th, 2020
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coronavirus_200316_2 mushroomcloud_200316_4

It was one of those Mondays:

The S&P 500 fell 12 percent, its biggest drop since the coronavirus outbreak began to roil markets in the United States last month — and its worst daily decline since October 1987, when stocks plunged about 20 percent in what came to be known as Black Monday. For the technology heavy Nasdaq, the drop was its worst on record.

Global oil prices plunged to below $30 a barrel, the lowest level in more than four years. Oil has fallen by half since the start of the year, and some analysts predict that oil prices could drop below $20 a barrel in the coming weeks.

and … :

The S&P 500 fell 12 per cent, marking its worst day since the month-long crisis began and bringing its overall decline to nearly 30 per cent since Feb. 19. The Dow Jones Industrial Average shed a record 3,000 points, or nearly 13 per cent.

The selloff accelerated toward the end of the day’s trading session after U.S. President Donald Trump released more restrictive guidelines in response to the outbreak and suggested that the reaction to the pandemic, which is smothering economic activity, could easily last through July.

Canada’s S&P/TSX Composite Index fell 9.9 per cent. Since Feb. 20, the index has fallen a total of 31.2 per cent.

Airline stocks were exceptionally volatile as unprecedented travel restrictions devastate capacity. Centre for Aviation, a consultancy, warned on Sunday that many airlines have probably already breached their debt covenants and most of the world’s airlines will be bankrupt by the end of May.

The Wall Street Journal reported that U.S. airlines are seeking as much as US$50-billion in financial assistance. During a press conference, Mr. Trump said: “We’re going to back the airlines 100 per cent.”

U.S. preliminary numbers for factory activity in March, seen in the New York Fed’s Empire index, registered its largest monthly decline on record, according to National Bank Financial.

Commodity prices are reflecting the weaker numbers. West Texas Intermediate crude, the U.S. benchmark for oil, fell 9.7 per cent on Monday to US$28.66 per barrel. The S&P/TSX energy index fell 18 per cent, escalating concerns about bank exposure to the energy sector’s loans even as a key credit-rating agency has argued that the exposure is manageable.

Mohamed el-Erian is not impressed by the Fed, which slashed rates on Sunday.

But at least we can still go to the States:

President Donald Trump says he has thought about closing the border to Canada amid efforts to contain the coronavirus epidemic, but is hoping not to take such a step, as a wave of increasingly dire public health measures crashes across the United States.

At a White House press conference unveiling new social distancing guidelines on Monday, Mr. Trump said he had the power to shut either the Canadian or Mexican borders.

“We think about it. If we don’t have to do it, that would be good,” he said. “We are talking about different things. But we’ll see. Right now, we have not decided to do that.”

… even though Ottawa has adopted a Fortress Canada mentality:

Canada will close its borders to people who are not Canadian citizens or permanent residents with the exception of U.S. citizens, diplomats and “essential workers” in an effort to stop the spread of the novel coronavirus, effective Wednesday, Prime Minister Justin Trudeau said Monday.

When asked about the science behind the government’s rationale, Mr. Trudeau said Ottawa recognizes the level of integration between the Canadian and U.S. economies puts the United States in a “separate category.”

I suspect that this was the price of keeping the border with the US open.:

The federal Liberal government imposed its own limits on incoming flights from overseas Friday — nothing as severe as Donald Trump’s ban on foreign nationals arriving from Europe, but enough to signal to the United States that it need not erect a viral firewall along the Canada-U.S. border.

International flights arriving from parts of the world where the COVID-19 outbreak is at its most severe will be directed to a select handful of Canadian airports, where passengers can be more readily screened for signs of illness, Transport Minister Marc Garneau told a news conference.

The move came just hours before the U.S. president declared the crisis a national emergency, and before his proclamation banning foreign visitors who recently visited any of 26 countries in Europe was scheduled to take effect at midnight.

TXPR closed at 431.89, down 8.83% on the day. Volume today was 3.84-million, the lowest since March 6.

CPD closed at 8.56, down 9.42% on the day. Volume of 680,269 was the highest of the past thirty days, comfortably ahead of second-place March 13.

ZPR closed at 6.60, down 9.84% on the day. Volume of 1,124,668 was the lowest since March 6

Five-year Canada yields were down 5bp to 0.62% today.

There are plenty of candidates for bad-quote mockery today, but again, there are just too many for me to address. However, special mention is appropriate for ALA.PR.H, which tripped a firewall in HIMIPref with its TSX-supplied quote of 8.70-20.00.

And as for what the market is really doing … I will point out that the four HSE FixedResets are bid to yield in a range of 11.03%-12.16%, while AIM.PR.A is bid to yield 9.78%; AIM.PR.C at 8.46%. Make of that what you will.

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 -12.8646 % 1,272.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 -12.8646 % 2,335.0
Floater 8.51 % 8.66 % 56,703 10.76 4 -12.8646 % 1,345.7
OpRet 0.00 % 0.00 % 0 0.00 0 -5.3525 % 3,179.9
SplitShare 5.22 % 7.05 % 71,397 4.02 7 -5.3525 % 3,797.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -5.3525 % 2,962.9
Perpetual-Premium 6.92 % 7.12 % 90,589 12.34 12 -9.3370 % 2,461.0
Perpetual-Discount 6.53 % 6.37 % 81,080 13.32 24 -7.1275 % 2,683.8
FixedReset Disc 8.51 % 7.03 % 204,731 11.95 64 -9.2776 % 1,415.8
Deemed-Retractible 6.38 % 6.92 % 88,044 12.71 27 -6.8177 % 2,648.2
FloatingReset 6.73 % 6.47 % 67,693 13.19 3 -15.2888 % 1,405.9
FixedReset Prem 6.66 % 6.47 % 174,343 13.18 22 -8.5247 % 2,037.5
FixedReset Bank Non 2.27 % 13.78 % 109,953 1.78 3 -4.8089 % 2,343.5
FixedReset Ins Non 9.02 % 7.96 % 121,869 11.23 22 -14.5531 % 1,317.5
Performance Highlights
Issue Index Change Notes
IFC.PR.C FixedReset Ins Non -22.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.05
Evaluated at bid price : 10.05
Bid-YTW : 8.18 %
SLF.PR.H FixedReset Ins Non -22.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.10
Evaluated at bid price : 9.10
Bid-YTW : 7.67 %
SLF.PR.G FixedReset Ins Non -21.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 7.02
Evaluated at bid price : 7.02
Bid-YTW : 7.20 %
MFC.PR.G FixedReset Ins Non -20.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.34
Evaluated at bid price : 10.34
Bid-YTW : 8.67 %
W.PR.M FixedReset Prem -19.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 7.71 %
TRP.PR.B FixedReset Disc -19.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 6.31
Evaluated at bid price : 6.31
Bid-YTW : 7.49 %
IAF.PR.I FixedReset Ins Non -19.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.76
Evaluated at bid price : 10.76
Bid-YTW : 8.60 %
GWO.PR.N FixedReset Ins Non -19.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 7.48
Evaluated at bid price : 7.48
Bid-YTW : 6.42 %
SLF.PR.J FloatingReset -18.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 6.90
Evaluated at bid price : 6.90
Bid-YTW : 6.47 %
SLF.PR.I FixedReset Ins Non -18.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.45
Evaluated at bid price : 10.45
Bid-YTW : 8.16 %
TRP.PR.D FixedReset Disc -17.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.70
Evaluated at bid price : 9.70
Bid-YTW : 8.61 %
MFC.PR.H FixedReset Ins Non -17.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.22
Evaluated at bid price : 11.22
Bid-YTW : 8.59 %
W.PR.K FixedReset Prem -16.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.46 %
CM.PR.Q FixedReset Disc -16.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.40
Evaluated at bid price : 10.40
Bid-YTW : 8.35 %
EMA.PR.F FixedReset Disc -16.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.20 %
EIT.PR.B SplitShare -16.01 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 8.61 %
IAF.PR.G FixedReset Ins Non -15.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.80
Evaluated at bid price : 10.80
Bid-YTW : 8.16 %
MFC.PR.F FixedReset Ins Non -15.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 6.60
Evaluated at bid price : 6.60
Bid-YTW : 7.73 %
EMA.PR.C FixedReset Disc -15.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.45
Evaluated at bid price : 12.45
Bid-YTW : 7.34 %
BAM.PF.J FixedReset Prem -15.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.47 %
TRP.PR.G FixedReset Disc -14.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.16
Evaluated at bid price : 11.16
Bid-YTW : 8.13 %
MFC.PR.J FixedReset Ins Non -14.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 7.97 %
MFC.PR.Q FixedReset Ins Non -14.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.09
Evaluated at bid price : 11.09
Bid-YTW : 7.99 %
MFC.PR.N FixedReset Ins Non -14.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.75
Evaluated at bid price : 9.75
Bid-YTW : 7.50 %
PWF.PR.E Perpetual-Premium -14.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.24
Evaluated at bid price : 18.24
Bid-YTW : 7.69 %
BMO.PR.S FixedReset Disc -14.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.71
Evaluated at bid price : 10.71
Bid-YTW : 7.57 %
BAM.PR.B Floater -14.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 7.00
Evaluated at bid price : 7.00
Bid-YTW : 8.67 %
TRP.PR.A FixedReset Disc -13.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.04
Evaluated at bid price : 9.04
Bid-YTW : 7.89 %
MFC.PR.L FixedReset Ins Non -13.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.42
Evaluated at bid price : 9.42
Bid-YTW : 8.23 %
PWF.PR.Q FloatingReset -13.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 7.75
Evaluated at bid price : 7.75
Bid-YTW : 6.46 %
MFC.PR.M FixedReset Ins Non -13.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.15
Evaluated at bid price : 10.15
Bid-YTW : 8.05 %
MFC.PR.K FixedReset Ins Non -13.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.20
Evaluated at bid price : 10.20
Bid-YTW : 7.96 %
TRP.PR.K FixedReset Prem -13.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.54
Evaluated at bid price : 17.54
Bid-YTW : 7.07 %
TRP.PR.E FixedReset Disc -13.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.50
Evaluated at bid price : 9.50
Bid-YTW : 8.69 %
TRP.PR.F FloatingReset -13.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 7.79
Evaluated at bid price : 7.79
Bid-YTW : 7.38 %
IFC.PR.A FixedReset Ins Non -13.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 8.73
Evaluated at bid price : 8.73
Bid-YTW : 7.26 %
IFC.PR.E Deemed-Retractible -13.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 7.12 %
MFC.PR.I FixedReset Ins Non -13.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.95
Evaluated at bid price : 10.95
Bid-YTW : 8.36 %
BAM.PR.K Floater -12.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 7.01
Evaluated at bid price : 7.01
Bid-YTW : 8.66 %
ELF.PR.H Perpetual-Premium -12.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.94 %
BAM.PR.X FixedReset Disc -12.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 8.28
Evaluated at bid price : 8.28
Bid-YTW : 7.44 %
BAM.PF.E FixedReset Disc -12.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.02
Evaluated at bid price : 11.02
Bid-YTW : 7.19 %
BAM.PR.C Floater -12.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 6.99
Evaluated at bid price : 6.99
Bid-YTW : 8.68 %
BAM.PR.T FixedReset Disc -12.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 7.51 %
BAM.PF.I FixedReset Prem -12.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.26 %
BAM.PF.H FixedReset Prem -12.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.37 %
HSE.PR.A FixedReset Disc -12.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 5.34
Evaluated at bid price : 5.34
Bid-YTW : 11.03 %
BAM.PF.F FixedReset Disc -12.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.27
Evaluated at bid price : 12.27
Bid-YTW : 7.44 %
IAF.PR.B Deemed-Retractible -12.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 6.58 %
IFC.PR.G FixedReset Ins Non -12.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.90
Evaluated at bid price : 11.90
Bid-YTW : 7.48 %
PWF.PR.L Perpetual-Discount -12.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.31
Evaluated at bid price : 17.31
Bid-YTW : 7.51 %
BAM.PR.Z FixedReset Disc -11.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.01
Evaluated at bid price : 13.01
Bid-YTW : 7.29 %
PWF.PR.A Floater -11.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 7.38
Evaluated at bid price : 7.38
Bid-YTW : 8.32 %
MFC.PR.R FixedReset Ins Non -11.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 14.65
Evaluated at bid price : 14.65
Bid-YTW : 7.73 %
BAM.PR.R FixedReset Disc -10.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.63
Evaluated at bid price : 9.63
Bid-YTW : 7.60 %
BIP.PR.A FixedReset Disc -10.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 8.37 %
PWF.PR.H Perpetual-Premium -10.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.14
Evaluated at bid price : 20.14
Bid-YTW : 7.27 %
NA.PR.S FixedReset Disc -10.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.91
Evaluated at bid price : 10.91
Bid-YTW : 7.69 %
GWO.PR.L Deemed-Retractible -10.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 7.15 %
HSE.PR.E FixedReset Disc -10.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 8.75
Evaluated at bid price : 8.75
Bid-YTW : 12.03 %
BMO.PR.T FixedReset Disc -10.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 6.97 %
RY.PR.Z FixedReset Disc -10.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.28
Evaluated at bid price : 11.28
Bid-YTW : 6.86 %
POW.PR.C Perpetual-Premium -10.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.74
Evaluated at bid price : 20.74
Bid-YTW : 7.15 %
ELF.PR.G Perpetual-Discount -10.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.74 %
TD.PF.D FixedReset Disc -9.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.11
Evaluated at bid price : 13.11
Bid-YTW : 6.59 %
TD.PF.K FixedReset Disc -9.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.03
Evaluated at bid price : 13.03
Bid-YTW : 6.98 %
NA.PR.E FixedReset Disc -9.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.53 %
CM.PR.O FixedReset Disc -9.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.62
Evaluated at bid price : 10.62
Bid-YTW : 7.62 %
PWF.PR.T FixedReset Disc -9.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.02
Evaluated at bid price : 11.02
Bid-YTW : 7.67 %
TD.PF.A FixedReset Disc -9.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.06
Evaluated at bid price : 11.06
Bid-YTW : 7.12 %
GWO.PR.M Deemed-Retractible -9.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 7.15 %
BMO.PR.D FixedReset Disc -9.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 14.56
Evaluated at bid price : 14.56
Bid-YTW : 6.73 %
NA.PR.C FixedReset Disc -9.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.95
Evaluated at bid price : 13.95
Bid-YTW : 7.49 %
PWF.PR.F Perpetual-Discount -9.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.32
Evaluated at bid price : 18.32
Bid-YTW : 7.30 %
NA.PR.W FixedReset Disc -9.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.80
Evaluated at bid price : 10.80
Bid-YTW : 7.48 %
PWF.PR.K Perpetual-Discount -9.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.47
Evaluated at bid price : 17.47
Bid-YTW : 7.22 %
CM.PR.P FixedReset Disc -9.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.77
Evaluated at bid price : 10.77
Bid-YTW : 7.61 %
PWF.PR.R Perpetual-Premium -9.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.28 %
BNS.PR.H FixedReset Prem -9.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.06
Evaluated at bid price : 19.06
Bid-YTW : 6.41 %
CU.PR.C FixedReset Disc -9.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 6.17 %
BMO.PR.Y FixedReset Disc -9.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.51
Evaluated at bid price : 12.51
Bid-YTW : 6.72 %
BMO.PR.Z Perpetual-Discount -9.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.17 %
MFC.PR.B Deemed-Retractible -9.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 6.67 %
TD.PF.J FixedReset Disc -9.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.31
Evaluated at bid price : 13.31
Bid-YTW : 6.88 %
CU.PR.H Perpetual-Discount -9.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.83
Evaluated at bid price : 20.83
Bid-YTW : 6.37 %
PWF.PR.I Perpetual-Premium -9.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.28
Evaluated at bid price : 21.55
Bid-YTW : 7.08 %
TD.PF.B FixedReset Disc -9.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.33
Evaluated at bid price : 11.33
Bid-YTW : 6.98 %
TD.PF.C FixedReset Disc -8.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 7.08 %
POW.PR.D Perpetual-Discount -8.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.22
Evaluated at bid price : 18.22
Bid-YTW : 7.01 %
NA.PR.A FixedReset Prem -8.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 6.99 %
TD.PF.E FixedReset Disc -8.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.26
Evaluated at bid price : 13.26
Bid-YTW : 6.68 %
GWO.PR.F Deemed-Retractible -8.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 7.06 %
POW.PR.A Perpetual-Premium -8.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.91
Evaluated at bid price : 19.91
Bid-YTW : 7.19 %
RY.PR.H FixedReset Disc -8.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.65
Evaluated at bid price : 11.65
Bid-YTW : 6.70 %
POW.PR.G Perpetual-Premium -8.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.25 %
BMO.PR.W FixedReset Disc -8.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 7.03 %
PWF.PR.Z Perpetual-Discount -8.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.17 %
TD.PF.I FixedReset Disc -8.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 14.11
Evaluated at bid price : 14.11
Bid-YTW : 6.80 %
BNS.PR.I FixedReset Disc -8.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 6.58 %
CM.PR.R FixedReset Disc -8.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.56
Evaluated at bid price : 13.56
Bid-YTW : 7.64 %
BMO.PR.F FixedReset Disc -8.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.67 %
PWF.PR.S Perpetual-Discount -8.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.19
Evaluated at bid price : 17.19
Bid-YTW : 7.11 %
MFC.PR.C Deemed-Retractible -8.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.49
Evaluated at bid price : 16.49
Bid-YTW : 6.88 %
TD.PF.F Perpetual-Discount -8.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.37 %
NA.PR.X FixedReset Prem -8.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.92
Evaluated at bid price : 19.92
Bid-YTW : 7.02 %
RY.PR.W Perpetual-Discount -8.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.14 %
RY.PR.J FixedReset Disc -8.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 6.26 %
TRP.PR.J FixedReset Prem -8.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.07
Evaluated at bid price : 20.07
Bid-YTW : 6.94 %
RY.PR.P Perpetual-Premium -7.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.03
Evaluated at bid price : 21.03
Bid-YTW : 6.32 %
MFC.PR.O FixedReset Ins Non -7.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 7.18 %
CM.PR.S FixedReset Disc -7.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 7.02 %
GWO.PR.T Deemed-Retractible -7.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.66
Evaluated at bid price : 18.66
Bid-YTW : 6.94 %
IFC.PR.F Deemed-Retractible -7.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.83 %
SLF.PR.A Deemed-Retractible -7.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.43
Evaluated at bid price : 17.43
Bid-YTW : 6.85 %
BMO.PR.B FixedReset Prem -7.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 6.48 %
PWF.PR.G Perpetual-Premium -7.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.49
Evaluated at bid price : 21.75
Bid-YTW : 6.89 %
BNS.PR.G FixedReset Prem -7.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 6.59 %
HSE.PR.C FixedReset Disc -7.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.05
Evaluated at bid price : 9.05
Bid-YTW : 11.50 %
TD.PF.L FixedReset Disc -7.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 6.62 %
BIP.PR.D FixedReset Disc -7.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.28
Evaluated at bid price : 16.28
Bid-YTW : 7.72 %
RY.PR.M FixedReset Disc -7.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.01
Evaluated at bid price : 13.01
Bid-YTW : 6.29 %
RY.PR.S FixedReset Disc -7.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.61
Evaluated at bid price : 13.61
Bid-YTW : 6.38 %
GWO.PR.Q Deemed-Retractible -7.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.67
Evaluated at bid price : 18.67
Bid-YTW : 6.93 %
CM.PR.Y FixedReset Disc -7.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 6.93 %
CIU.PR.A Perpetual-Discount -7.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.51
Evaluated at bid price : 18.51
Bid-YTW : 6.28 %
PWF.PR.O Perpetual-Premium -7.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 7.12 %
RY.PR.O Perpetual-Discount -7.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.03
Evaluated at bid price : 20.03
Bid-YTW : 6.19 %
SLF.PR.C Deemed-Retractible -6.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.78 %
RY.PR.N Perpetual-Discount -6.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.20 %
BIP.PR.C FixedReset Prem -6.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 7.75 %
CCS.PR.C Deemed-Retractible -6.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.33
Evaluated at bid price : 19.33
Bid-YTW : 6.50 %
SLF.PR.D Deemed-Retractible -6.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.78 %
BMO.PR.C FixedReset Disc -6.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 15.55
Evaluated at bid price : 15.55
Bid-YTW : 6.53 %
GWO.PR.S Deemed-Retractible -6.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 6.92 %
GWO.PR.P Deemed-Retractible -6.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.68
Evaluated at bid price : 19.68
Bid-YTW : 6.90 %
BAM.PF.A FixedReset Disc -6.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 6.93 %
POW.PR.B Perpetual-Discount -6.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 7.18 %
TD.PF.H FixedReset Prem -6.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.09
Evaluated at bid price : 19.09
Bid-YTW : 6.30 %
SLF.PR.B Deemed-Retractible -6.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.76 %
PVS.PR.G SplitShare -6.64 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.50
Bid-YTW : 7.05 %
GWO.PR.I Deemed-Retractible -6.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.66
Evaluated at bid price : 16.66
Bid-YTW : 6.79 %
TRP.PR.C FixedReset Disc -6.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 6.61
Evaluated at bid price : 6.61
Bid-YTW : 8.30 %
GWO.PR.H Deemed-Retractible -6.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 6.81 %
BMO.PR.Q FixedReset Bank Non -6.45 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.30
Bid-YTW : 16.50 %
BAM.PF.G FixedReset Disc -6.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 6.92 %
GWO.PR.G Deemed-Retractible -6.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.78
Evaluated at bid price : 18.78
Bid-YTW : 6.96 %
BIK.PR.A FixedReset Prem -6.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.97 %
BAM.PR.N Perpetual-Discount -6.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 7.06 %
CM.PR.T FixedReset Disc -6.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 15.51
Evaluated at bid price : 15.51
Bid-YTW : 7.01 %
BAM.PR.M Perpetual-Discount -5.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.02 %
BIP.PR.E FixedReset Disc -5.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 7.37 %
TD.PF.G FixedReset Prem -5.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 6.39 %
BIP.PR.F FixedReset Disc -5.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 7.48 %
IFC.PR.I Perpetual-Premium -5.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.59 %
BAM.PF.B FixedReset Disc -5.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.99 %
SLF.PR.E Deemed-Retractible -5.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 6.79 %
RY.PR.R FixedReset Prem -5.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.37
Evaluated at bid price : 21.37
Bid-YTW : 6.41 %
BAM.PF.D Perpetual-Discount -5.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.92 %
BNS.PR.E FixedReset Prem -5.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.26
Evaluated at bid price : 20.26
Bid-YTW : 6.46 %
HSE.PR.G FixedReset Disc -5.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 8.55
Evaluated at bid price : 8.55
Bid-YTW : 12.16 %
CU.PR.G Perpetual-Discount -5.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 6.07 %
BNS.PR.Z FixedReset Bank Non -5.44 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.35
Bid-YTW : 13.78 %
BAM.PF.C Perpetual-Discount -5.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.31
Evaluated at bid price : 17.31
Bid-YTW : 7.04 %
BMO.PR.E FixedReset Disc -5.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 6.87 %
TD.PF.M FixedReset Disc -5.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 6.40 %
PVS.PR.H SplitShare -5.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.19 %
EMA.PR.E Perpetual-Discount -5.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.02 %
GWO.PR.R Deemed-Retractible -4.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.70 %
BIP.PR.B FixedReset Prem -4.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 7.62 %
RY.PR.Q FixedReset Prem -4.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.71
Evaluated at bid price : 20.71
Bid-YTW : 6.30 %
CU.PR.D Perpetual-Discount -4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.11 %
PVS.PR.E SplitShare -3.79 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 24.10
Bid-YTW : 7.13 %
RY.PR.G Deemed-Retractible -3.72 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.01
Bid-YTW : 9.43 %
CU.PR.F Perpetual-Discount -3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 5.96 %
RY.PR.A Deemed-Retractible -3.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 9.40 %
CU.PR.I FixedReset Prem -3.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 21.82
Evaluated at bid price : 22.30
Bid-YTW : 5.06 %
PVS.PR.D SplitShare -3.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 23.75
Bid-YTW : 8.08 %
BNS.PR.Y FixedReset Bank Non -2.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.10
Bid-YTW : 6.08 %
RY.PR.C Deemed-Retractible -2.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.38
Bid-YTW : 8.62 %
EML.PR.A FixedReset Ins Non -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.96
Evaluated at bid price : 20.96
Bid-YTW : 6.82 %
RY.PR.E Deemed-Retractible -2.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.18
Bid-YTW : 9.00 %
RY.PR.F Deemed-Retractible -1.89 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.30
Bid-YTW : 8.65 %
PVS.PR.F SplitShare -1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 6.41 %
NA.PR.G FixedReset Disc 3.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.80
Evaluated at bid price : 12.80
Bid-YTW : 7.49 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.S FixedReset Disc 131,794 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.61
Evaluated at bid price : 13.61
Bid-YTW : 6.38 %
MFC.PR.F FixedReset Ins Non 101,712 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 6.60
Evaluated at bid price : 6.60
Bid-YTW : 7.73 %
BAM.PF.E FixedReset Disc 62,941 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 11.02
Evaluated at bid price : 11.02
Bid-YTW : 7.19 %
RY.PR.J FixedReset Disc 60,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 6.26 %
MFC.PR.B Deemed-Retractible 59,492 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 6.67 %
RY.PR.Q FixedReset Prem 54,968 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 20.71
Evaluated at bid price : 20.71
Bid-YTW : 6.30 %
There were 78 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
EIT.PR.B SplitShare Quote: 21.25 – 25.15
Spot Rate : 3.9000
Average : 2.2237

YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 8.61 %

IAF.PR.B Deemed-Retractible Quote: 17.56 – 20.00
Spot Rate : 2.4400
Average : 1.4398

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 6.58 %

IAF.PR.I FixedReset Ins Non Quote: 10.76 – 12.50
Spot Rate : 1.7400
Average : 1.1237

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 10.76
Evaluated at bid price : 10.76
Bid-YTW : 8.60 %

EMA.PR.C FixedReset Disc Quote: 12.45 – 14.43
Spot Rate : 1.9800
Average : 1.3693

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 12.45
Evaluated at bid price : 12.45
Bid-YTW : 7.34 %

BAM.PR.R FixedReset Disc Quote: 9.63 – 11.72
Spot Rate : 2.0900
Average : 1.4837

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 9.63
Evaluated at bid price : 9.63
Bid-YTW : 7.60 %

W.PR.M FixedReset Prem Quote: 17.26 – 18.61
Spot Rate : 1.3500
Average : 0.8205

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-03-16
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 7.71 %