Archive for the ‘Market Action’ Category

January 4, 2019

Friday, January 4th, 2019

Jobs, jobs … part-time jobs!

Canada’s jobless rate held steady at 5.6 per cent in December as the economy added 9,300 jobs, but about the same number of people were looking for work.

Most of the jobs were part time, Statistics Canada reported Friday. As 28,300 new part-time jobs were added, 18,900 full-time jobs were lost.

“The headline unemployment rate may have defied expectations to remain at a record-low 5.6 per cent, but the way we got there was less encouraging,” Brian DePratto of TD Bank said. “Not only were the job gains entirely in part-time work, they were also driven by self-employment as both private firms and the public sector shed jobs.”

He also said that despite the economy creating new jobs, wages aren’t increasing much, as pay packets grew on average by just 1.5 per cent last year — less than the current inflation rate. “While many measures would suggest the we have a tight labour market, the signal from wages says otherwise.”

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 0.0347 % 2,442.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0347 % 4,481.7
Floater 4.79 % 5.06 % 44,418 15.43 4 0.0347 % 2,582.9
OpRet 0.00 % 0.00 % 0 0.00 0 -0.2161 % 3,154.4
SplitShare 4.67 % 5.43 % 89,475 4.54 7 -0.2161 % 3,767.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2161 % 2,939.2
Perpetual-Premium 5.57 % -5.52 % 147,630 0.08 2 0.2980 % 2,870.7
Perpetual-Discount 5.70 % 5.88 % 71,909 14.09 33 0.7965 % 2,909.2
FixedReset Disc 5.12 % 5.60 % 196,102 14.55 66 1.9807 % 2,202.0
Deemed-Retractible 5.45 % 6.39 % 86,333 8.19 27 1.0008 % 2,906.6
FloatingReset 4.13 % 4.70 % 41,376 2.94 7 0.9491 % 2,454.5
FixedReset Prem 5.19 % 4.44 % 264,740 2.23 14 0.2465 % 2,509.9
FixedReset Bank Non 2.98 % 3.78 % 134,376 0.14 6 0.0759 % 2,571.8
FixedReset Ins Non 5.00 % 7.05 % 139,155 8.33 22 1.4934 % 2,197.6
Performance Highlights
Issue Index Change Notes
BAM.PR.K Floater -1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 13.59
Evaluated at bid price : 13.59
Bid-YTW : 5.12 %
EIT.PR.B SplitShare -1.01 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 23.58
Bid-YTW : 6.00 %
TD.PF.J FixedReset Disc 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.82
Evaluated at bid price : 22.22
Bid-YTW : 5.26 %
PWF.PR.S Perpetual-Discount 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.83 %
BMO.PR.C FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.29
Evaluated at bid price : 22.82
Bid-YTW : 5.60 %
BAM.PF.D Perpetual-Discount 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.97
Evaluated at bid price : 20.97
Bid-YTW : 5.89 %
SLF.PR.H FixedReset Ins Non 1.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.95
Bid-YTW : 7.52 %
IFC.PR.G FixedReset Ins Non 1.20 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.05
Bid-YTW : 6.75 %
PWF.PR.G Perpetual-Discount 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 24.92
Evaluated at bid price : 25.15
Bid-YTW : 5.97 %
PWF.PR.K Perpetual-Discount 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.22
Evaluated at bid price : 21.22
Bid-YTW : 5.95 %
IFC.PR.E Deemed-Retractible 1.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.10
Bid-YTW : 6.21 %
NA.PR.W FixedReset Disc 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 5.76 %
HSE.PR.E FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.03 %
TD.PF.I FixedReset Disc 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.78
Evaluated at bid price : 22.12
Bid-YTW : 5.51 %
VNR.PR.A FixedReset Disc 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.29
Evaluated at bid price : 21.29
Bid-YTW : 5.61 %
GWO.PR.G Deemed-Retractible 1.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.61
Bid-YTW : 6.47 %
NA.PR.E FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.46 %
MFC.PR.B Deemed-Retractible 1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.26
Bid-YTW : 7.24 %
CM.PR.Q FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.87
Evaluated at bid price : 19.87
Bid-YTW : 5.75 %
SLF.PR.A Deemed-Retractible 1.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.05
Bid-YTW : 6.86 %
POW.PR.G Perpetual-Discount 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 23.55
Evaluated at bid price : 23.88
Bid-YTW : 5.88 %
GWO.PR.S Deemed-Retractible 1.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.60
Bid-YTW : 6.00 %
TRP.PR.A FixedReset Disc 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 16.19
Evaluated at bid price : 16.19
Bid-YTW : 5.87 %
BIP.PR.A FixedReset Disc 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 6.74 %
HSE.PR.C FixedReset Disc 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 6.59 %
SLF.PR.D Deemed-Retractible 1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.05
Bid-YTW : 7.11 %
SLF.PR.I FixedReset Ins Non 1.53 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.95
Bid-YTW : 7.05 %
PWF.PR.Z Perpetual-Discount 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.84
Evaluated at bid price : 22.15
Bid-YTW : 5.91 %
RY.PR.Z FixedReset Disc 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 5.37 %
CM.PR.O FixedReset Disc 1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 5.69 %
NA.PR.G FixedReset Disc 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.59
Evaluated at bid price : 21.92
Bid-YTW : 5.37 %
RY.PR.J FixedReset Disc 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.52 %
CM.PR.S FixedReset Disc 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.25 %
BAM.PR.B Floater 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 13.60
Evaluated at bid price : 13.60
Bid-YTW : 5.12 %
BMO.PR.S FixedReset Disc 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.33
Evaluated at bid price : 19.33
Bid-YTW : 5.52 %
GWO.PR.I Deemed-Retractible 1.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.91
Bid-YTW : 7.25 %
CM.PR.R FixedReset Disc 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.03
Evaluated at bid price : 22.45
Bid-YTW : 5.63 %
TRP.PR.G FixedReset Disc 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 5.98 %
SLF.PR.B Deemed-Retractible 1.87 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 6.80 %
PWF.PR.T FixedReset Disc 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.26
Evaluated at bid price : 19.26
Bid-YTW : 5.62 %
SLF.PR.E Deemed-Retractible 1.93 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.05
Bid-YTW : 7.17 %
GWO.PR.H Deemed-Retractible 1.94 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.02
Bid-YTW : 6.99 %
BAM.PR.M Perpetual-Discount 1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.08
Evaluated at bid price : 20.08
Bid-YTW : 5.96 %
TRP.PR.F FloatingReset 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 16.32
Evaluated at bid price : 16.32
Bid-YTW : 5.51 %
TD.PF.D FixedReset Disc 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.86
Evaluated at bid price : 20.86
Bid-YTW : 5.57 %
EMA.PR.H FixedReset Disc 2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.95
Evaluated at bid price : 24.35
Bid-YTW : 5.02 %
TD.PF.A FixedReset Disc 2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.94
Evaluated at bid price : 18.94
Bid-YTW : 5.53 %
MFC.PR.J FixedReset Ins Non 2.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.81
Bid-YTW : 6.85 %
POW.PR.B Perpetual-Discount 2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.41
Evaluated at bid price : 22.67
Bid-YTW : 5.92 %
BMO.PR.W FixedReset Disc 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 5.48 %
PWF.PR.L Perpetual-Discount 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.81
Evaluated at bid price : 22.05
Bid-YTW : 5.88 %
BMO.PR.E FixedReset Disc 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.50
Evaluated at bid price : 23.40
Bid-YTW : 5.03 %
CU.PR.C FixedReset Disc 2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 17.76
Evaluated at bid price : 17.76
Bid-YTW : 5.85 %
BAM.PR.N Perpetual-Discount 2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.33
Evaluated at bid price : 20.33
Bid-YTW : 5.89 %
MFC.PR.C Deemed-Retractible 2.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.80
Bid-YTW : 7.35 %
MFC.PR.R FixedReset Ins Non 2.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.01
Bid-YTW : 5.98 %
MFC.PR.N FixedReset Ins Non 2.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.20
Bid-YTW : 7.93 %
MFC.PR.H FixedReset Ins Non 2.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.49
Bid-YTW : 6.64 %
MFC.PR.G FixedReset Ins Non 2.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.03
Bid-YTW : 7.19 %
BAM.PF.C Perpetual-Discount 2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.76
Evaluated at bid price : 20.76
Bid-YTW : 5.89 %
SLF.PR.J FloatingReset 2.56 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.20
Bid-YTW : 8.66 %
RY.PR.M FixedReset Disc 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.36 %
TRP.PR.D FixedReset Disc 2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 5.89 %
CM.PR.P FixedReset Disc 2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.22
Evaluated at bid price : 18.22
Bid-YTW : 5.63 %
BAM.PF.F FixedReset Disc 2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.80 %
CCS.PR.C Deemed-Retractible 2.95 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.37
Bid-YTW : 6.39 %
MFC.PR.I FixedReset Ins Non 3.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.55
Bid-YTW : 6.98 %
PWF.PR.Q FloatingReset 3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 15.45
Evaluated at bid price : 15.45
Bid-YTW : 5.34 %
RY.PR.S FixedReset Disc 3.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.38
Evaluated at bid price : 23.20
Bid-YTW : 4.78 %
TRP.PR.E FixedReset Disc 3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.58
Evaluated at bid price : 18.58
Bid-YTW : 5.71 %
BAM.PF.B FixedReset Disc 3.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 5.61 %
BAM.PF.A FixedReset Disc 3.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.63
Evaluated at bid price : 21.97
Bid-YTW : 5.55 %
BAM.PF.G FixedReset Disc 3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.62
Evaluated at bid price : 20.62
Bid-YTW : 5.75 %
TD.PF.B FixedReset Disc 3.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.55 %
IFC.PR.F Deemed-Retractible 3.51 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.37 %
TD.PF.C FixedReset Disc 3.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.50 %
TRP.PR.C FixedReset Disc 3.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 13.83
Evaluated at bid price : 13.83
Bid-YTW : 5.95 %
TRP.PR.B FixedReset Disc 3.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 13.45
Evaluated at bid price : 13.45
Bid-YTW : 5.76 %
BMO.PR.T FixedReset Disc 3.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.93
Evaluated at bid price : 18.93
Bid-YTW : 5.51 %
MFC.PR.F FixedReset Ins Non 3.96 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.71
Bid-YTW : 8.95 %
BNS.PR.I FixedReset Disc 4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.44
Evaluated at bid price : 23.30
Bid-YTW : 4.74 %
SLF.PR.G FixedReset Ins Non 4.31 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.50
Bid-YTW : 8.53 %
RY.PR.H FixedReset Disc 4.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.41 %
PWF.PR.P FixedReset Disc 4.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 15.02
Evaluated at bid price : 15.02
Bid-YTW : 5.64 %
BAM.PF.E FixedReset Disc 4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 5.78 %
BAM.PR.T FixedReset Disc 4.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 5.72 %
GWO.PR.N FixedReset Ins Non 5.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.90
Bid-YTW : 8.76 %
BAM.PR.Z FixedReset Disc 5.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 21.27
Evaluated at bid price : 21.55
Bid-YTW : 5.60 %
EMA.PR.F FixedReset Disc 7.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 5.99 %
BAM.PR.R FixedReset Disc 7.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 17.84
Evaluated at bid price : 17.84
Bid-YTW : 5.66 %
BAM.PR.X FixedReset Disc 7.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 15.87
Evaluated at bid price : 15.87
Bid-YTW : 5.54 %
Volume Highlights
Issue Index Shares
Traded
Notes
BAM.PF.J FixedReset Disc 55,260 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 23.01
Evaluated at bid price : 24.35
Bid-YTW : 5.02 %
HSE.PR.A FixedReset Disc 22,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 6.65 %
MFC.PR.Q FixedReset Ins Non 20,101 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.85
Bid-YTW : 6.78 %
BNS.PR.I FixedReset Disc 18,750 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 22.44
Evaluated at bid price : 23.30
Bid-YTW : 4.74 %
TRP.PR.K FixedReset Disc 14,503 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.60
Bid-YTW : 5.61 %
EML.PR.A FixedReset Ins Non 13,870 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 25.83
Bid-YTW : 4.14 %
There were 7 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: 19.43 – 20.43
Spot Rate : 1.0000
Average : 0.7027

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.43
Bid-YTW : 7.39 %

IAF.PR.B Deemed-Retractible Quote: 20.39 – 21.50
Spot Rate : 1.1100
Average : 0.8268

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.39
Bid-YTW : 7.08 %

TRP.PR.G FixedReset Disc Quote: 20.01 – 21.00
Spot Rate : 0.9900
Average : 0.7830

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 5.98 %

IFC.PR.E Deemed-Retractible Quote: 23.10 – 24.00
Spot Rate : 0.9000
Average : 0.6997

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.10
Bid-YTW : 6.21 %

CM.PR.O FixedReset Disc Quote: 18.45 – 19.19
Spot Rate : 0.7400
Average : 0.5503

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-04
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 5.69 %

W.PR.M FixedReset Prem Quote: 24.85 – 25.22
Spot Rate : 0.3700
Average : 0.2089

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-15
Maturity Price : 25.00
Evaluated at bid price : 24.85
Bid-YTW : 5.42 %

January 3, 2019

Thursday, January 3rd, 2019

Quote quality has been dropping recently and today plumbed new depths of woefulness.

Given that mutual fund annual reporting season is nearly upon us, I’ve got half a mind to write an article pointing out just how shitty these quotes are, and that they aren’t even derived from an “Active Market” as defined by the accountants, in the first place.

And, I will continue to ponder the question: is the abysmal quality of these quotes a matter of negligence or malevolence? Poor quotes help market makers and their associated salesmen rip off their clients and counterparties (as the true state of the market is somewhat obscured) and has the additional benefit of retarding the development of quantitative historical investment analysis – which must be done with some kind of bid-offer spread, preferably something approximating market conditions, since otherwise your estimate of transaction cost is just flim-flam and fairy dust.

It’s generally wiser to go with negligence, but it’s very hard to tell from the outside!

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 -0.3282 % 2,441.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3282 % 4,480.2
Floater 4.79 % 5.04 % 44,270 15.47 4 -0.3282 % 2,582.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.3870 % 3,161.3
SplitShare 4.66 % 5.51 % 90,201 4.54 7 0.3870 % 3,775.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.3870 % 2,945.6
Perpetual-Premium 5.59 % -3.38 % 149,183 0.08 2 0.2389 % 2,862.2
Perpetual-Discount 5.75 % 5.95 % 72,221 14.00 33 -0.1379 % 2,886.2
FixedReset Disc 5.21 % 5.70 % 203,606 14.31 66 -1.9755 % 2,159.3
Deemed-Retractible 5.50 % 6.64 % 89,483 8.18 27 -0.5621 % 2,877.8
FloatingReset 4.17 % 4.69 % 42,993 2.94 7 -1.1038 % 2,431.4
FixedReset Prem 5.20 % 4.52 % 275,610 2.23 14 -0.2270 % 2,503.7
FixedReset Bank Non 2.98 % 3.89 % 136,065 0.14 6 0.0967 % 2,569.8
FixedReset Ins Non 5.14 % 7.23 % 141,300 8.29 22 -1.4441 % 2,165.3
Performance Highlights
Issue Index Change Notes
BAM.PR.X FixedReset Disc -7.59 % A nonsensical quote provided at high cost from Nonsense Central, as the issue traded 5,342 shares today in a range of 15.14-02 before being quoted at 14.74-16.01. The closing price was 16.01.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 14.74
Evaluated at bid price : 14.74
Bid-YTW : 5.95 %

EMA.PR.F FixedReset Disc -7.53 % This crazy quote has a little justification, as the issue traded 3,190 shares today in a range of 17.94-19.25 before being quoted at 17.80-19.35. The closing price was 18.26.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.41 %

HSE.PR.E FixedReset Disc -7.32 % This crazy quote is another product of Nonsense Central, as the issue traded 5,706 shares today in a range of 19.42-90 before being quoted at 19.00-81. The closing price was 19.42.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.12 %

BAM.PR.Z FixedReset Disc -5.72 % More nonsense, as the issue traded 5,489 shares today in a range of 20.78-57 before being quoted at 20.43-21.49. The closing price was 21.48.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 5.93 %

CU.PR.C FixedReset Disc -5.70 % More nonsense, as the issue traded 2,204 shares today in a range of 17.75-36 before being quoted at 17.38-18.47. The closing price was 17.96.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 17.38
Evaluated at bid price : 17.38
Bid-YTW : 5.97 %

GWO.PR.N FixedReset Ins Non -5.60 % More nonsense, as the issue traded 3,100 shares today in a range of 14.67-03 before being quoted at 14.16-74. The closing price was 14.67.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.16
Bid-YTW : 9.35 %

HSE.PR.A FixedReset Disc -5.41 % More nonsense, as the issue traded 1,800 shares today in a range of 13.01-67 before being quoted at 12.95-73. The closing price was 13.67.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 12.95
Evaluated at bid price : 12.95
Bid-YTW : 6.70 %

BAM.PR.R FixedReset Disc -4.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 16.64
Evaluated at bid price : 16.64
Bid-YTW : 6.07 %
TD.PF.B FixedReset Disc -4.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.38
Evaluated at bid price : 18.38
Bid-YTW : 5.74 %
TRP.PR.F FloatingReset -4.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 5.62 %
BAM.PF.E FixedReset Disc -4.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.05 %
BAM.PF.B FixedReset Disc -4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.80 %
RY.PR.H FixedReset Disc -3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.66 %
HSE.PR.C FixedReset Disc -3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.69 %
IFC.PR.C FixedReset Ins Non -3.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.59
Bid-YTW : 7.69 %
TRP.PR.B FixedReset Disc -3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 12.97
Evaluated at bid price : 12.97
Bid-YTW : 5.97 %
TRP.PR.D FixedReset Disc -3.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.05 %
BMO.PR.T FixedReset Disc -3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 5.71 %
IFC.PR.F Deemed-Retractible -3.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.22
Bid-YTW : 6.80 %
TRP.PR.C FixedReset Disc -3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 13.34
Evaluated at bid price : 13.34
Bid-YTW : 6.16 %
CCS.PR.C Deemed-Retractible -3.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.73
Bid-YTW : 6.74 %
TRP.PR.G FixedReset Disc -3.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 6.08 %
BAM.PR.B Floater -3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 13.37
Evaluated at bid price : 13.37
Bid-YTW : 5.21 %
MFC.PR.F FixedReset Ins Non -2.95 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.15
Bid-YTW : 9.40 %
EMA.PR.H FixedReset Disc -2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 22.74
Evaluated at bid price : 23.85
Bid-YTW : 5.15 %
BAM.PR.T FixedReset Disc -2.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 17.01
Evaluated at bid price : 17.01
Bid-YTW : 6.00 %
BIP.PR.A FixedReset Disc -2.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.84 %
TD.PF.C FixedReset Disc -2.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 5.70 %
BIP.PR.E FixedReset Disc -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.69
Evaluated at bid price : 22.03
Bid-YTW : 5.70 %
EML.PR.A FixedReset Ins Non -2.62 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 25.61
Bid-YTW : 4.54 %
MFC.PR.R FixedReset Ins Non -2.53 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.47
Bid-YTW : 6.26 %
RY.PR.M FixedReset Disc -2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.28
Evaluated at bid price : 20.28
Bid-YTW : 5.50 %
CM.PR.Q FixedReset Disc -2.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.83 %
CM.PR.S FixedReset Disc -2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.34 %
TRP.PR.H FloatingReset -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 13.12
Evaluated at bid price : 13.12
Bid-YTW : 5.63 %
MFC.PR.H FixedReset Ins Non -2.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.00
Bid-YTW : 6.92 %
TD.PF.D FixedReset Disc -2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.44
Evaluated at bid price : 20.44
Bid-YTW : 5.69 %
MFC.PR.C Deemed-Retractible -2.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.36
Bid-YTW : 7.62 %
PWF.PR.Q FloatingReset -2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 14.99
Evaluated at bid price : 14.99
Bid-YTW : 5.51 %
CM.PR.O FixedReset Disc -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 5.78 %
GWO.PR.H Deemed-Retractible -2.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.62
Bid-YTW : 7.22 %
BMO.PR.W FixedReset Disc -2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.60 %
NA.PR.W FixedReset Disc -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 17.86
Evaluated at bid price : 17.86
Bid-YTW : 5.85 %
NA.PR.E FixedReset Disc -2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 5.55 %
BAM.PF.F FixedReset Disc -2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.96 %
MFC.PR.I FixedReset Ins Non -2.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.94
Bid-YTW : 7.35 %
RY.PR.J FixedReset Disc -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.61 %
CU.PR.G Perpetual-Discount -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 5.80 %
CM.PR.P FixedReset Disc -1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 5.78 %
IAG.PR.G FixedReset Ins Non -1.99 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.75
Bid-YTW : 7.19 %
PWF.PR.P FixedReset Disc -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 14.36
Evaluated at bid price : 14.36
Bid-YTW : 5.90 %
PWF.PR.A Floater -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 16.85
Evaluated at bid price : 16.85
Bid-YTW : 4.15 %
BMO.PR.S FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.61 %
SLF.PR.B Deemed-Retractible -1.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.86
Bid-YTW : 7.02 %
GWO.PR.I Deemed-Retractible -1.66 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.57
Bid-YTW : 7.46 %
BMO.PR.Y FixedReset Disc -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.49 %
SLF.PR.E Deemed-Retractible -1.60 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.67
Bid-YTW : 7.40 %
MFC.PR.J FixedReset Ins Non -1.59 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.38
Bid-YTW : 7.10 %
HSE.PR.G FixedReset Disc -1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.89 %
NA.PR.S FixedReset Disc -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.98
Evaluated at bid price : 18.98
Bid-YTW : 5.73 %
BAM.PR.M Perpetual-Discount -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.69
Evaluated at bid price : 19.69
Bid-YTW : 6.08 %
PWF.PR.L Perpetual-Discount -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.31
Evaluated at bid price : 21.58
Bid-YTW : 6.01 %
BIP.PR.F FixedReset Disc -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.78
Evaluated at bid price : 22.20
Bid-YTW : 5.76 %
CU.PR.I FixedReset Disc -1.35 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.65
Bid-YTW : 3.32 %
BAM.PF.A FixedReset Disc -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.26
Evaluated at bid price : 21.26
Bid-YTW : 5.76 %
BAM.PF.G FixedReset Disc -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.94 %
RY.PR.Z FixedReset Disc -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.46 %
SLF.PR.G FixedReset Ins Non -1.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.86
Bid-YTW : 9.02 %
MFC.PR.G FixedReset Ins Non -1.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.56
Bid-YTW : 7.47 %
W.PR.M FixedReset Prem -1.20 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-15
Maturity Price : 25.00
Evaluated at bid price : 24.75
Bid-YTW : 5.57 %
BAM.PR.N Perpetual-Discount -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 19.89
Evaluated at bid price : 19.89
Bid-YTW : 6.02 %
TRP.PR.A FixedReset Disc -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 15.96
Evaluated at bid price : 15.96
Bid-YTW : 5.96 %
SLF.PR.C Deemed-Retractible -1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.75
Bid-YTW : 7.29 %
TD.PF.I FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.57
Evaluated at bid price : 21.83
Bid-YTW : 5.58 %
VNR.PR.A FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 5.68 %
BAM.PF.C Perpetual-Discount -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.26
Evaluated at bid price : 20.26
Bid-YTW : 6.03 %
POW.PR.B Perpetual-Discount -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 6.04 %
MFC.PR.B Deemed-Retractible -1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.99
Bid-YTW : 7.40 %
POW.PR.G Perpetual-Discount -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 23.08
Evaluated at bid price : 23.55
Bid-YTW : 5.95 %
CU.PR.H Perpetual-Discount -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 23.55
Evaluated at bid price : 24.00
Bid-YTW : 5.52 %
SLF.PR.D Deemed-Retractible -1.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.75
Bid-YTW : 7.29 %
W.PR.J Perpetual-Discount 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 23.24
Evaluated at bid price : 23.54
Bid-YTW : 5.96 %
BAM.PF.D Perpetual-Discount 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 20.74
Evaluated at bid price : 20.74
Bid-YTW : 5.95 %
W.PR.H Perpetual-Discount 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 23.34
Evaluated at bid price : 23.63
Bid-YTW : 5.83 %
RY.PR.O Perpetual-Discount 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 23.13
Evaluated at bid price : 23.50
Bid-YTW : 5.26 %
IFC.PR.E Deemed-Retractible 1.78 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.81
Bid-YTW : 6.36 %
RY.PR.S FixedReset Disc 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 21.97
Evaluated at bid price : 22.50
Bid-YTW : 4.95 %
PVS.PR.F SplitShare 1.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 24.58
Bid-YTW : 5.25 %
BIP.PR.D FixedReset Disc 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 22.41
Evaluated at bid price : 23.00
Bid-YTW : 6.03 %
BAM.PR.K Floater 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 5.04 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.H FixedReset Disc 13,541 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.66 %
BAM.PF.H FixedReset Prem 12,917 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.68
Bid-YTW : 3.61 %
RY.PR.Q FixedReset Prem 12,120 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 25.79
Bid-YTW : 4.38 %
TD.PF.C FixedReset Disc 11,986 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 5.70 %
CM.PR.O FixedReset Disc 11,967 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 5.78 %
CU.PR.I FixedReset Disc 11,800 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.65
Bid-YTW : 3.32 %
There were 7 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
EMA.PR.F FixedReset Disc Quote: 17.80 – 19.35
Spot Rate : 1.5500
Average : 0.9312

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.41 %

IFC.PR.C FixedReset Ins Non Quote: 18.59 – 20.20
Spot Rate : 1.6100
Average : 0.9980

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.59
Bid-YTW : 7.69 %

IAG.PR.I FixedReset Ins Non Quote: 21.20 – 22.80
Spot Rate : 1.6000
Average : 1.0488

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.20
Bid-YTW : 6.72 %

MFC.PR.B Deemed-Retractible Quote: 19.99 – 21.40
Spot Rate : 1.4100
Average : 0.8994

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.99
Bid-YTW : 7.40 %

BAM.PR.R FixedReset Disc Quote: 16.64 – 17.78
Spot Rate : 1.1400
Average : 0.6313

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 16.64
Evaluated at bid price : 16.64
Bid-YTW : 6.07 %

BAM.PR.X FixedReset Disc Quote: 14.74 – 16.01
Spot Rate : 1.2700
Average : 0.7945

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-03
Maturity Price : 14.74
Evaluated at bid price : 14.74
Bid-YTW : 5.95 %

January 2, 2019

Wednesday, January 2nd, 2019

Dundee Corporation, which will have to make a decision soon about DC.PR.E, has announced (although not yet on their website):

that Mark Goodman, President, has departed the Company.

“On behalf of the board of directors and fellow members of the executive management team, I would like to thank Mark for his dedication and contributions to Dundee Corporation,” said Jonathan Goodman, Chairman and Chief Executive Officer. “We would also like to wish Mark the best in his future endeavors.”

Mark Goodman’s responsibilities related to the resources portfolio and merchant capital activities at Dundee Corporation will be split amongst various executives at the Company.

This follows earlier news of:

the sale of Dundee Securities Ltd. (“Dundee Securities”) to Echelon Wealth Partners Inc. (“Echelon”) for total consideration of $4 million. This transaction is also expected to provide Dundee with additional liquidity from Dundee Securities of up to $5 million and ongoing cost savings. In October 2018, approximately $15 million of regulatory capital supporting Dundee Securities was provided to Dundee Corporation.

DC.PR.E closed today at 16.10 … while DC.A closed at 1.16. Assiduous Readers will remember that the issue has a hard maturity June 30, 2019, but the company can force conversion at the current redemption price of DC.PR.E (25.25) “together with all accrued and unpaid dividends up to but excluding the date fixed for conversion” into DC.A at “the greater of: (i) $2.00; and (ii) 95% of the weighted average trading price of the Subordinate Voting Shares on the TSX for the 20 consecutive trading days ending on the fourth day prior to the date specified for conversion or, if such fourth day is not a trading day, the immediately preceding trading day.”

The last dividend on DC.PR.E was payable December 31. Thus, the current $1.16 price of DC.A implies a conversion value of (25.25 / 2) shares of DC.A worth $1.16 each, or $14.64. This will be interesting!

PerpetualDiscounts now yield 5.93%, equivalent to 7.71% interest at the standard equivalency factor of 1.3x. Long corporates now yield about 4.10%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 360bp, a significant narrowing from the 370bp reported December 19.

The Canadian preferred share market opened 2019 with a fizzle.

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 -0.6350 % 2,449.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.6350 % 4,494.9
Floater 4.78 % 5.04 % 46,020 15.48 4 -0.6350 % 2,590.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.7103 % 3,149.1
SplitShare 4.68 % 5.59 % 93,861 4.55 7 -0.7103 % 3,760.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.7103 % 2,934.2
Perpetual-Premium 5.60 % 2.17 % 150,528 0.08 2 -0.0199 % 2,855.4
Perpetual-Discount 5.74 % 5.93 % 73,393 14.01 33 -0.7588 % 2,890.2
FixedReset Disc 5.11 % 5.57 % 206,848 14.53 66 -0.6816 % 2,202.8
Deemed-Retractible 5.47 % 6.56 % 89,818 8.18 27 -0.4771 % 2,894.1
FloatingReset 4.13 % 4.70 % 43,206 2.94 7 0.0376 % 2,458.5
FixedReset Prem 5.18 % 4.52 % 279,049 2.24 14 0.1375 % 2,509.4
FixedReset Bank Non 2.99 % 3.82 % 137,209 0.15 6 -0.2755 % 2,567.3
FixedReset Ins Non 5.06 % 7.10 % 144,070 8.32 22 -0.3546 % 2,197.0
Performance Highlights
Issue Index Change Notes
W.PR.J Perpetual-Discount -3.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 22.93
Evaluated at bid price : 23.21
Bid-YTW : 6.05 %
BAM.PF.G FixedReset Disc -3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 20.22
Evaluated at bid price : 20.22
Bid-YTW : 5.86 %
W.PR.H Perpetual-Discount -3.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 5.93 %
BAM.PR.C Floater -3.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 13.56
Evaluated at bid price : 13.56
Bid-YTW : 5.13 %
HSE.PR.G FixedReset Disc -2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.79 %
TD.PF.A FixedReset Disc -2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 18.73
Evaluated at bid price : 18.73
Bid-YTW : 5.59 %
TRP.PR.E FixedReset Disc -2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 5.86 %
TRP.PR.C FixedReset Disc -2.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 5.96 %
RY.PR.Z FixedReset Disc -2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.38 %
GWO.PR.M Deemed-Retractible -2.61 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.64
Bid-YTW : 6.03 %
TRP.PR.A FixedReset Disc -2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 5.89 %
PVS.PR.F SplitShare -2.46 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 24.14
Bid-YTW : 5.61 %
POW.PR.D Perpetual-Discount -2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 21.03
Evaluated at bid price : 21.03
Bid-YTW : 5.97 %
BAM.PR.T FixedReset Disc -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 17.52
Evaluated at bid price : 17.52
Bid-YTW : 5.83 %
BAM.PF.D Perpetual-Discount -2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 6.05 %
IAG.PR.I FixedReset Ins Non -2.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.39
Bid-YTW : 6.61 %
CCS.PR.C Deemed-Retractible -2.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.47
Bid-YTW : 6.33 %
BAM.PR.R FixedReset Disc -2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 17.48
Evaluated at bid price : 17.48
Bid-YTW : 5.78 %
BAM.PF.F FixedReset Disc -2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 5.84 %
POW.PR.G Perpetual-Discount -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 23.47
Evaluated at bid price : 23.80
Bid-YTW : 5.89 %
BMO.PR.S FixedReset Disc -1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.34
Evaluated at bid price : 19.34
Bid-YTW : 5.51 %
TD.PF.C FixedReset Disc -1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 18.88
Evaluated at bid price : 18.88
Bid-YTW : 5.54 %
CM.PR.Q FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.68 %
PWF.PR.P FixedReset Disc -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 14.64
Evaluated at bid price : 14.64
Bid-YTW : 5.78 %
IAG.PR.G FixedReset Ins Non -1.71 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.15
Bid-YTW : 6.95 %
NA.PR.S FixedReset Disc -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 5.64 %
TD.PF.B FixedReset Disc -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.22
Evaluated at bid price : 19.22
Bid-YTW : 5.48 %
POW.PR.B Perpetual-Discount -1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 22.17
Evaluated at bid price : 22.45
Bid-YTW : 5.97 %
BAM.PF.E FixedReset Disc -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.80 %
RY.PR.H FixedReset Disc -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.44 %
BAM.PR.Z FixedReset Disc -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 21.36
Evaluated at bid price : 21.67
Bid-YTW : 5.56 %
MFC.PR.H FixedReset Ins Non -1.47 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.51
Bid-YTW : 6.63 %
GWO.PR.G Deemed-Retractible -1.46 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.25
Bid-YTW : 6.67 %
RY.PR.J FixedReset Disc -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 20.92
Evaluated at bid price : 20.92
Bid-YTW : 5.50 %
NA.PR.W FixedReset Disc -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 5.73 %
PWF.PR.A Floater -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 17.17
Evaluated at bid price : 17.17
Bid-YTW : 4.07 %
SLF.PR.J FloatingReset -1.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.94
Bid-YTW : 8.86 %
SLF.PR.I FixedReset Ins Non -1.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.69
Bid-YTW : 7.20 %
MFC.PR.L FixedReset Ins Non -1.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.88
Bid-YTW : 8.03 %
PWF.PR.R Perpetual-Discount -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 23.02
Evaluated at bid price : 23.45
Bid-YTW : 5.96 %
IAG.PR.A Deemed-Retractible -1.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.38
Bid-YTW : 7.08 %
CM.PR.P FixedReset Disc -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 5.66 %
TRP.PR.H FloatingReset -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 13.44
Evaluated at bid price : 13.44
Bid-YTW : 5.49 %
HSE.PR.C FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.43 %
BIP.PR.B FixedReset Disc -1.18 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 5.44 %
IFC.PR.G FixedReset Ins Non -1.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.00
Bid-YTW : 6.77 %
MFC.PR.N FixedReset Ins Non -1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.79
Bid-YTW : 8.21 %
BMO.PR.Z Perpetual-Discount -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 23.89
Evaluated at bid price : 24.37
Bid-YTW : 5.17 %
TD.PF.F Perpetual-Discount -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 23.43
Evaluated at bid price : 23.83
Bid-YTW : 5.21 %
GWO.PR.Q Deemed-Retractible -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.10
Bid-YTW : 6.70 %
MFC.PR.I FixedReset Ins Non -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.35
Bid-YTW : 7.10 %
TD.PF.E FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 21.31
Evaluated at bid price : 21.31
Bid-YTW : 5.53 %
BMO.PR.T FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 5.51 %
SLF.PR.G FixedReset Ins Non -1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.05
Bid-YTW : 8.87 %
TD.PF.D FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 20.91
Evaluated at bid price : 20.91
Bid-YTW : 5.56 %
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 : 23.07
Bid-YTW : 5.13 %
GWO.PR.R Deemed-Retractible -1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.23
Bid-YTW : 6.80 %
PWF.PR.E Perpetual-Discount -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 23.15
Evaluated at bid price : 23.45
Bid-YTW : 5.96 %
GWO.PR.N FixedReset Ins Non 1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.00
Bid-YTW : 8.67 %
SLF.PR.H FixedReset Ins Non 1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.80
Bid-YTW : 7.61 %
PWF.PR.H Perpetual-Discount 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 24.18
Evaluated at bid price : 24.44
Bid-YTW : 5.98 %
BMO.PR.E FixedReset Disc 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 22.14
Evaluated at bid price : 22.75
Bid-YTW : 5.19 %
IFC.PR.C FixedReset Ins Non 1.47 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.28
Bid-YTW : 7.25 %
BNS.PR.E FixedReset Prem 1.62 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-25
Maturity Price : 25.00
Evaluated at bid price : 25.66
Bid-YTW : 4.14 %
TRP.PR.F FloatingReset 2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 5.38 %
HSE.PR.A FixedReset Disc 2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 13.69
Evaluated at bid price : 13.69
Bid-YTW : 6.34 %
BIP.PR.E FixedReset Disc 3.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 22.12
Evaluated at bid price : 22.66
Bid-YTW : 5.53 %
BAM.PR.K Floater 3.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 13.36
Evaluated at bid price : 13.36
Bid-YTW : 5.21 %
IFC.PR.A FixedReset Ins Non 4.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.65
Bid-YTW : 8.19 %
Volume Highlights
Issue Index Shares
Traded
Notes
BMO.PR.D FixedReset Disc 77,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 21.84
Evaluated at bid price : 22.18
Bid-YTW : 5.59 %
MFC.PR.C Deemed-Retractible 55,645 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.80
Bid-YTW : 7.34 %
RY.PR.S FixedReset Disc 24,176 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 21.70
Evaluated at bid price : 22.10
Bid-YTW : 5.05 %
BNS.PR.G FixedReset Prem 19,343 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 25.56
Bid-YTW : 4.44 %
BMO.PR.S FixedReset Disc 13,410 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.34
Evaluated at bid price : 19.34
Bid-YTW : 5.51 %
TD.PF.C FixedReset Disc 13,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 18.88
Evaluated at bid price : 18.88
Bid-YTW : 5.54 %
There were 1 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IFC.PR.E Deemed-Retractible Quote: 22.41 – 23.49
Spot Rate : 1.0800
Average : 0.7433

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.41
Bid-YTW : 6.58 %

BIP.PR.D FixedReset Disc Quote: 22.54 – 23.59
Spot Rate : 1.0500
Average : 0.7140

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 22.12
Evaluated at bid price : 22.54
Bid-YTW : 6.16 %

W.PR.H Perpetual-Discount Quote: 23.25 – 24.14
Spot Rate : 0.8900
Average : 0.5729

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 5.93 %

MFC.PR.N FixedReset Ins Non Quote: 17.79 – 18.59
Spot Rate : 0.8000
Average : 0.4866

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.79
Bid-YTW : 8.21 %

BAM.PF.G FixedReset Disc Quote: 20.22 – 21.01
Spot Rate : 0.7900
Average : 0.5487

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 20.22
Evaluated at bid price : 20.22
Bid-YTW : 5.86 %

HSE.PR.G FixedReset Disc Quote: 19.80 – 20.75
Spot Rate : 0.9500
Average : 0.7210

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-01-02
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.79 %

December 31, 2018

Monday, December 31st, 2018
rainbow_unicorn_181231
Click for Big

TXPR closed at 628.87, up an impressive 1.45% on the day. Volume of 1.45-million was the lowest of the past thirty days.

CPD closed at 12.53, up 1.54% on the day. Volume of 94,041 was the lowest of the past thirty days.

ZPR closed at 10.17, up 3.19% on the day. Volume of 323,170 was more or less average in the context of the past thirty days.

It was a marvellous finish to the year, but the TXPR Total Return Index is still down 1.58% on the month and a very nasty 10.01% on the quarter.

But here’s to better things next year!

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 2.0490 % 2,465.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 2.0490 % 4,523.7
Floater 4.75 % 4.95 % 43,872 15.58 4 2.0490 % 2,607.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.8928 % 3,171.6
SplitShare 4.64 % 5.27 % 92,185 4.56 7 0.8928 % 3,787.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.8928 % 2,955.2
Perpetual-Premium 5.60 % 2.11 % 152,263 0.08 2 0.8230 % 2,855.9
Perpetual-Discount 5.70 % 5.88 % 74,546 14.09 33 2.1640 % 2,912.3
FixedReset Disc 5.07 % 5.54 % 214,755 14.61 66 2.7765 % 2,217.9
Deemed-Retractible 5.44 % 6.48 % 92,817 8.20 27 2.1118 % 2,907.9
FloatingReset 4.13 % 4.77 % 44,883 2.95 7 1.6928 % 2,457.6
FixedReset Prem 5.19 % 4.68 % 282,906 2.24 14 -0.3790 % 2,506.0
FixedReset Bank Non 2.98 % 3.78 % 138,886 0.15 6 0.2768 % 2,574.4
FixedReset Ins Non 5.05 % 6.96 % 149,266 8.35 22 2.3060 % 2,204.8
Performance Highlights
Issue Index Change Notes
MFC.PR.N FixedReset Ins Non -2.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.00
Bid-YTW : 8.06 %
BAM.PR.K Floater -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 12.97
Evaluated at bid price : 12.97
Bid-YTW : 5.35 %
BNS.PR.E FixedReset Prem -1.56 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-25
Maturity Price : 25.00
Evaluated at bid price : 25.25
Bid-YTW : 4.88 %
TRP.PR.J FixedReset Prem -1.21 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.35
Bid-YTW : 5.11 %
MFC.PR.M FixedReset Ins Non -1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.24
Bid-YTW : 7.99 %
RY.PR.Q FixedReset Prem -1.12 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 25.61
Bid-YTW : 4.68 %
RY.PR.M FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 5.30 %
IFC.PR.A FixedReset Ins Non 1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.00
Bid-YTW : 8.66 %
HSE.PR.A FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 6.51 %
TD.PF.I FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.77
Evaluated at bid price : 22.11
Bid-YTW : 5.51 %
TD.PF.E FixedReset Disc 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.27
Evaluated at bid price : 21.55
Bid-YTW : 5.45 %
BAM.PF.I FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : 4.16 %
RY.PR.N Perpetual-Discount 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 22.83
Evaluated at bid price : 23.18
Bid-YTW : 5.33 %
BMO.PR.W FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 5.44 %
CU.PR.D Perpetual-Discount 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.82
Evaluated at bid price : 21.82
Bid-YTW : 5.69 %
PWF.PR.S Perpetual-Discount 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.83
Evaluated at bid price : 20.83
Bid-YTW : 5.87 %
RY.PR.W Perpetual-Discount 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.83
Evaluated at bid price : 24.08
Bid-YTW : 5.14 %
BIP.PR.F FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.85
Evaluated at bid price : 22.30
Bid-YTW : 5.73 %
TD.PF.A FixedReset Disc 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.43 %
W.PR.J Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.84
Evaluated at bid price : 24.09
Bid-YTW : 5.83 %
EMA.PR.H FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.03
Evaluated at bid price : 24.55
Bid-YTW : 4.97 %
POW.PR.C Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 24.34
Evaluated at bid price : 24.65
Bid-YTW : 5.89 %
GWO.PR.F Deemed-Retractible 1.50 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-01-30
Maturity Price : 25.00
Evaluated at bid price : 25.02
Bid-YTW : 4.97 %
SLF.PR.I FixedReset Ins Non 1.53 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.95
Bid-YTW : 7.04 %
W.PR.H Perpetual-Discount 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.72
Evaluated at bid price : 24.03
Bid-YTW : 5.73 %
PWF.PR.I Perpetual-Premium 1.60 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-01-30
Maturity Price : 25.00
Evaluated at bid price : 25.33
Bid-YTW : 2.11 %
TD.PF.K FixedReset Disc 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.65
Evaluated at bid price : 22.00
Bid-YTW : 5.28 %
BIP.PR.A FixedReset Disc 1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.33
Evaluated at bid price : 20.33
Bid-YTW : 6.64 %
MFC.PR.C Deemed-Retractible 1.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.69
Bid-YTW : 7.40 %
BMO.PR.D FixedReset Disc 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.71
Evaluated at bid price : 22.00
Bid-YTW : 5.64 %
IAG.PR.A Deemed-Retractible 1.83 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.64
Bid-YTW : 6.92 %
GWO.PR.M Deemed-Retractible 1.85 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : 0.92 %
MFC.PR.G FixedReset Ins Non 1.90 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.88
Bid-YTW : 7.27 %
RY.PR.H FixedReset Disc 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.35 %
IFC.PR.E Deemed-Retractible 2.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.45
Bid-YTW : 6.55 %
TRP.PR.G FixedReset Disc 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.13
Evaluated at bid price : 20.13
Bid-YTW : 5.94 %
TRP.PR.D FixedReset Disc 2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 5.81 %
GWO.PR.H Deemed-Retractible 2.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.98
Bid-YTW : 7.00 %
RY.PR.S FixedReset Disc 2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.84
Evaluated at bid price : 22.30
Bid-YTW : 5.00 %
MFC.PR.R FixedReset Ins Non 2.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.13
Bid-YTW : 5.91 %
GWO.PR.P Deemed-Retractible 2.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.31
Bid-YTW : 6.30 %
PVS.PR.G SplitShare 2.20 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 24.17
Bid-YTW : 5.57 %
PWF.PR.Q FloatingReset 2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 15.33
Evaluated at bid price : 15.33
Bid-YTW : 5.38 %
SLF.PR.C Deemed-Retractible 2.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.10
Bid-YTW : 7.07 %
CU.PR.F Perpetual-Discount 2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.71 %
PVS.PR.F SplitShare 2.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 24.75
Bid-YTW : 5.10 %
NA.PR.W FixedReset Disc 2.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 18.52
Evaluated at bid price : 18.52
Bid-YTW : 5.64 %
PWF.PR.R Perpetual-Discount 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.43
Evaluated at bid price : 23.75
Bid-YTW : 5.88 %
SLF.PR.A Deemed-Retractible 2.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.08
Bid-YTW : 6.83 %
MFC.PR.K FixedReset Ins Non 2.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.26
Bid-YTW : 7.39 %
SLF.PR.B Deemed-Retractible 2.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.39
Bid-YTW : 6.71 %
BMO.PR.T FixedReset Disc 2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 5.45 %
CU.PR.E Perpetual-Discount 2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.60
Evaluated at bid price : 21.60
Bid-YTW : 5.75 %
BMO.PR.E FixedReset Disc 2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.93
Evaluated at bid price : 22.42
Bid-YTW : 5.28 %
GWO.PR.L Deemed-Retractible 2.38 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.50
Bid-YTW : 5.94 %
TD.PF.C FixedReset Disc 2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.43 %
BAM.PF.D Perpetual-Discount 2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.92
Evaluated at bid price : 20.92
Bid-YTW : 5.90 %
MFC.PR.B Deemed-Retractible 2.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.31
Bid-YTW : 7.20 %
BAM.PF.C Perpetual-Discount 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.93 %
CU.PR.H Perpetual-Discount 2.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.74
Evaluated at bid price : 24.20
Bid-YTW : 5.47 %
TD.PF.B FixedReset Disc 2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.53
Evaluated at bid price : 19.53
Bid-YTW : 5.39 %
IFC.PR.F Deemed-Retractible 2.47 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.85
Bid-YTW : 6.44 %
BAM.PF.A FixedReset Disc 2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.56
Evaluated at bid price : 21.56
Bid-YTW : 5.67 %
BAM.PF.J FixedReset Disc 2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.01
Evaluated at bid price : 24.35
Bid-YTW : 5.01 %
POW.PR.A Perpetual-Discount 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.90 %
CCS.PR.C Deemed-Retractible 2.63 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.99
Bid-YTW : 6.04 %
BAM.PR.N Perpetual-Discount 2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 5.92 %
TRP.PR.K FixedReset Disc 2.67 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.65
Bid-YTW : 5.52 %
MFC.PR.J FixedReset Ins Non 2.72 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.76
Bid-YTW : 6.87 %
MFC.PR.H FixedReset Ins Non 2.73 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.83
Bid-YTW : 6.44 %
GWO.PR.Q Deemed-Retractible 2.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.35
Bid-YTW : 6.55 %
PWF.PR.P FixedReset Disc 2.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 5.68 %
TD.PF.D FixedReset Disc 2.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.13
Evaluated at bid price : 21.13
Bid-YTW : 5.50 %
PWF.PR.G Perpetual-Discount 2.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 24.85
Evaluated at bid price : 25.06
Bid-YTW : 5.99 %
CU.PR.C FixedReset Disc 2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 18.44
Evaluated at bid price : 18.44
Bid-YTW : 5.63 %
TRP.PR.F FloatingReset 2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 5.48 %
PWF.PR.L Perpetual-Discount 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.49
Evaluated at bid price : 21.75
Bid-YTW : 5.96 %
PWF.PR.T FixedReset Disc 3.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 5.66 %
PWF.PR.Z Perpetual-Discount 3.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.84
Evaluated at bid price : 22.15
Bid-YTW : 5.91 %
SLF.PR.J FloatingReset 3.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.14
Bid-YTW : 8.69 %
POW.PR.G Perpetual-Discount 3.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.78
Evaluated at bid price : 24.28
Bid-YTW : 5.77 %
PWF.PR.O Perpetual-Discount 3.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 24.64
Evaluated at bid price : 24.90
Bid-YTW : 5.92 %
PWF.PR.K Perpetual-Discount 3.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 5.95 %
BAM.PR.M Perpetual-Discount 3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.07
Evaluated at bid price : 20.07
Bid-YTW : 5.96 %
TRP.PR.B FixedReset Disc 3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 13.43
Evaluated at bid price : 13.43
Bid-YTW : 5.76 %
CM.PR.S FixedReset Disc 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.21 %
BMO.PR.Y FixedReset Disc 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.18
Evaluated at bid price : 21.18
Bid-YTW : 5.40 %
MFC.PR.F FixedReset Ins Non 3.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.69
Bid-YTW : 8.95 %
GWO.PR.T Deemed-Retractible 3.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.35
Bid-YTW : 6.55 %
GWO.PR.G Deemed-Retractible 3.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.58
Bid-YTW : 6.48 %
SLF.PR.D Deemed-Retractible 3.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.15
Bid-YTW : 7.04 %
CM.PR.Q FixedReset Disc 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.46
Evaluated at bid price : 20.46
Bid-YTW : 5.58 %
VNR.PR.A FixedReset Disc 3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 5.63 %
CU.PR.G Perpetual-Discount 3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.11
Evaluated at bid price : 20.11
Bid-YTW : 5.67 %
GWO.PR.S Deemed-Retractible 3.47 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.26
Bid-YTW : 6.17 %
TD.PF.J FixedReset Disc 3.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.84
Evaluated at bid price : 22.25
Bid-YTW : 5.24 %
GWO.PR.I Deemed-Retractible 3.49 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.86
Bid-YTW : 7.27 %
MFC.PR.Q FixedReset Ins Non 3.53 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.84
Bid-YTW : 6.78 %
PWF.PR.F Perpetual-Discount 3.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 22.38
Evaluated at bid price : 22.64
Bid-YTW : 5.89 %
BMO.PR.S FixedReset Disc 3.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 5.40 %
HSE.PR.G FixedReset Disc 3.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 6.58 %
GWO.PR.R Deemed-Retractible 3.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.45
Bid-YTW : 6.67 %
NA.PR.G FixedReset Disc 3.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.54
Evaluated at bid price : 21.86
Bid-YTW : 5.48 %
POW.PR.B Perpetual-Discount 3.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 22.55
Evaluated at bid price : 22.80
Bid-YTW : 5.88 %
SLF.PR.E Deemed-Retractible 3.99 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.06
Bid-YTW : 7.15 %
RY.PR.Z FixedReset Disc 4.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.77
Evaluated at bid price : 19.77
Bid-YTW : 5.24 %
BAM.PR.C Floater 4.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 4.95 %
POW.PR.D Perpetual-Discount 4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.28
Evaluated at bid price : 21.55
Bid-YTW : 5.81 %
IAG.PR.G FixedReset Ins Non 4.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.50
Bid-YTW : 6.74 %
IAG.PR.I FixedReset Ins Non 4.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.90
Bid-YTW : 6.32 %
SLF.PR.G FixedReset Ins Non 4.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.21
Bid-YTW : 8.74 %
NA.PR.S FixedReset Disc 4.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.54 %
TRP.PR.A FixedReset Disc 4.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 16.56
Evaluated at bid price : 16.56
Bid-YTW : 5.73 %
BAM.PR.T FixedReset Disc 4.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 17.95
Evaluated at bid price : 17.95
Bid-YTW : 5.68 %
TRP.PR.C FixedReset Disc 4.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 14.18
Evaluated at bid price : 14.18
Bid-YTW : 5.80 %
BAM.PF.E FixedReset Disc 5.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.70 %
NA.PR.C FixedReset Disc 5.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.80
Evaluated at bid price : 22.15
Bid-YTW : 5.84 %
EMA.PR.F FixedReset Disc 5.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.89 %
BAM.PR.B Floater 5.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 13.90
Evaluated at bid price : 13.90
Bid-YTW : 4.99 %
BAM.PR.Z FixedReset Disc 5.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.68
Evaluated at bid price : 22.00
Bid-YTW : 5.48 %
GWO.PR.N FixedReset Ins Non 5.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.83
Bid-YTW : 8.80 %
HSE.PR.E FixedReset Disc 5.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 6.62 %
BAM.PR.R FixedReset Disc 5.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 5.65 %
BAM.PF.F FixedReset Disc 6.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.71 %
NA.PR.E FixedReset Disc 6.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 5.41 %
BAM.PF.B FixedReset Disc 6.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.64
Evaluated at bid price : 20.64
Bid-YTW : 5.50 %
BNS.PR.I FixedReset Disc 6.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.87
Evaluated at bid price : 22.34
Bid-YTW : 4.97 %
TRP.PR.H FloatingReset 6.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 13.61
Evaluated at bid price : 13.61
Bid-YTW : 5.40 %
PWF.PR.E Perpetual-Discount 6.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 23.40
Evaluated at bid price : 23.69
Bid-YTW : 5.90 %
BAM.PR.X FixedReset Disc 7.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 15.98
Evaluated at bid price : 15.98
Bid-YTW : 5.49 %
IFC.PR.C FixedReset Ins Non 7.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.42 %
BAM.PF.G FixedReset Disc 7.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 5.65 %
IFC.PR.G FixedReset Ins Non 8.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 6.62 %
HSE.PR.C FixedReset Disc 9.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.35 %
Volume Highlights
Issue Index Shares
Traded
Notes
BNS.PR.R FixedReset Bank Non 92,100 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-02-25
Maturity Price : 25.00
Evaluated at bid price : 24.96
Bid-YTW : 3.05 %
BNS.PR.I FixedReset Disc 42,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.87
Evaluated at bid price : 22.34
Bid-YTW : 4.97 %
BNS.PR.C FloatingReset 30,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-02-25
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 1.31 %
TD.PF.A FixedReset Disc 30,198 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.43 %
GWO.PR.I Deemed-Retractible 26,242 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.86
Bid-YTW : 7.27 %
TD.PF.C FixedReset Disc 21,498 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.43 %
There were 32 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IFC.PR.A FixedReset Ins Non Quote: 16.00 – 17.05
Spot Rate : 1.0500
Average : 0.6600

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.00
Bid-YTW : 8.66 %

IFC.PR.C FixedReset Ins Non Quote: 19.00 – 19.90
Spot Rate : 0.9000
Average : 0.5539

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.42 %

BAM.PR.K Floater Quote: 12.97 – 14.24
Spot Rate : 1.2700
Average : 1.0175

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 12.97
Evaluated at bid price : 12.97
Bid-YTW : 5.35 %

SLF.PR.H FixedReset Ins Non Quote: 17.59 – 18.44
Spot Rate : 0.8500
Average : 0.6005

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.59
Bid-YTW : 7.74 %

BIP.PR.E FixedReset Disc Quote: 22.00 – 22.75
Spot Rate : 0.7500
Average : 0.5035

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.67
Evaluated at bid price : 22.00
Bid-YTW : 5.70 %

BAM.PF.A FixedReset Disc Quote: 21.56 – 22.26
Spot Rate : 0.7000
Average : 0.4844

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-31
Maturity Price : 21.56
Evaluated at bid price : 21.56
Bid-YTW : 5.67 %

December 28, 2018

Saturday, December 29th, 2018
rainbow_unicorn_181228
Click for Big

TXPR closed at 619.90, up a stunning 3.15% on the day on the first day following tax-loss selling season. Volume of 1.46-million was the lowest of the past thirty days.

CPD closed at 12.34, up 2.15% on the day. Volume of 159,992 was fourth-lowest of the past thirty days.

ZPR closed at 10.04, up 3.19% on the day. Volume of 236,190 was the fourth-lowest of the past thirty days.

A very nice day, but without much volume. Those inclined to read too much into a single day’s returns should note that today’s win still leaves the TXPR total return index below the level of December 17 and is still down 3.02% on the month.

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

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 3.1617 % 2,415.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 3.1617 % 4,432.8
Floater 4.84 % 5.15 % 44,502 15.24 4 3.1617 % 2,554.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0294 % 3,143.5
SplitShare 4.68 % 5.38 % 93,228 4.56 7 -0.0294 % 3,754.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0294 % 2,929.1
Perpetual-Premium 5.65 % 6.12 % 154,203 13.63 2 1.5698 % 2,832.6
Perpetual-Discount 5.82 % 5.98 % 73,953 13.92 33 2.5381 % 2,850.6
FixedReset Disc 5.21 % 5.77 % 217,913 14.32 66 4.0413 % 2,158.0
Deemed-Retractible 5.56 % 6.80 % 93,957 8.16 27 2.5729 % 2,847.8
FloatingReset 4.21 % 4.89 % 41,557 2.93 7 2.3066 % 2,416.7
FixedReset Prem 5.16 % 4.40 % 285,457 2.25 14 0.7636 % 2,515.5
FixedReset Bank Non 2.98 % 3.74 % 143,474 0.16 6 0.4981 % 2,567.3
FixedReset Ins Non 5.16 % 7.27 % 150,369 8.32 22 3.5816 % 2,155.1
Performance Highlights
Issue Index Change Notes
BNS.PR.E FixedReset Prem 1.17 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-25
Maturity Price : 25.00
Evaluated at bid price : 26.00
Bid-YTW : 4.12 %
BNS.PR.G FixedReset Prem 1.17 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 25.92
Bid-YTW : 4.39 %
BAM.PF.I FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 4.54 %
RY.PR.O Perpetual-Discount 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.76
Evaluated at bid price : 23.10
Bid-YTW : 5.35 %
CM.PR.R FixedReset Disc 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.77
Evaluated at bid price : 22.08
Bid-YTW : 5.79 %
PWF.PR.E Perpetual-Discount 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.07
Evaluated at bid price : 22.30
Bid-YTW : 6.27 %
BNS.PR.Z FixedReset Bank Non 1.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.32
Bid-YTW : 4.95 %
PWF.PR.L Perpetual-Discount 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.12
Evaluated at bid price : 21.12
Bid-YTW : 6.15 %
NA.PR.X FixedReset Prem 1.41 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-15
Maturity Price : 25.00
Evaluated at bid price : 25.85
Bid-YTW : 4.40 %
BAM.PR.K Floater 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 13.20
Evaluated at bid price : 13.20
Bid-YTW : 5.25 %
BAM.PR.B Floater 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 13.20
Evaluated at bid price : 13.20
Bid-YTW : 5.25 %
IFC.PR.G FixedReset Ins Non 1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.60
Bid-YTW : 7.66 %
NA.PR.C FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.22 %
CU.PR.I FixedReset Disc 1.72 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.95
Bid-YTW : 2.65 %
BIP.PR.C FixedReset Disc 1.81 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-09-30
Maturity Price : 25.00
Evaluated at bid price : 24.75
Bid-YTW : 5.77 %
IAG.PR.I FixedReset Ins Non 1.84 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.00
Bid-YTW : 6.87 %
GWO.PR.F Deemed-Retractible 1.86 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.65
Bid-YTW : 6.11 %
W.PR.J Perpetual-Discount 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 23.48
Evaluated at bid price : 23.75
Bid-YTW : 5.90 %
POW.PR.D Perpetual-Discount 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.06 %
TRP.PR.J FixedReset Prem 2.03 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.66
Bid-YTW : 4.55 %
BMO.PR.Z Perpetual-Discount 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 24.36
Evaluated at bid price : 24.85
Bid-YTW : 5.06 %
POW.PR.C Perpetual-Discount 2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 24.04
Evaluated at bid price : 24.29
Bid-YTW : 5.98 %
CU.PR.F Perpetual-Discount 2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.84 %
EML.PR.A FixedReset Ins Non 2.19 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 26.17
Bid-YTW : 3.50 %
PWF.PR.F Perpetual-Discount 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.59
Evaluated at bid price : 21.85
Bid-YTW : 6.11 %
SLF.PR.G FixedReset Ins Non 2.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.57
Bid-YTW : 9.32 %
GWO.PR.I Deemed-Retractible 2.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.19
Bid-YTW : 7.69 %
MFC.PR.R FixedReset Ins Non 2.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.62
Bid-YTW : 6.21 %
TRP.PR.H FloatingReset 2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 12.82
Evaluated at bid price : 12.82
Bid-YTW : 5.77 %
BIP.PR.E FixedReset Disc 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.67
Evaluated at bid price : 22.00
Bid-YTW : 5.70 %
PWF.PR.T FixedReset Disc 2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 5.93 %
GWO.PR.R Deemed-Retractible 2.38 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.66
Bid-YTW : 7.13 %
PWF.PR.Z Perpetual-Discount 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.10 %
PWF.PR.I Perpetual-Premium 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 24.67
Evaluated at bid price : 24.93
Bid-YTW : 6.12 %
BAM.PF.F FixedReset Disc 2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.67
Evaluated at bid price : 19.67
Bid-YTW : 6.14 %
BAM.PF.A FixedReset Disc 2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.04
Evaluated at bid price : 21.04
Bid-YTW : 5.87 %
GWO.PR.N FixedReset Ins Non 2.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.05
Bid-YTW : 9.50 %
BMO.PR.D FixedReset Disc 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.33
Evaluated at bid price : 21.63
Bid-YTW : 5.79 %
TD.PF.F Perpetual-Discount 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 23.57
Evaluated at bid price : 24.01
Bid-YTW : 5.16 %
SLF.PR.E Deemed-Retractible 2.61 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.29
Bid-YTW : 7.63 %
CU.PR.D Perpetual-Discount 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.55
Evaluated at bid price : 21.55
Bid-YTW : 5.76 %
EMA.PR.F FixedReset Disc 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.38
Evaluated at bid price : 18.38
Bid-YTW : 6.29 %
TD.PF.I FixedReset Disc 2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.59
Evaluated at bid price : 21.86
Bid-YTW : 5.63 %
BNS.PR.I FixedReset Disc 2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.43
Evaluated at bid price : 21.43
Bid-YTW : 5.40 %
PWF.PR.G Perpetual-Discount 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 24.09
Evaluated at bid price : 24.35
Bid-YTW : 6.16 %
SLF.PR.A Deemed-Retractible 2.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.60
Bid-YTW : 7.11 %
TD.PF.D FixedReset Disc 2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.73 %
POW.PR.B Perpetual-Discount 2.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.70
Evaluated at bid price : 21.95
Bid-YTW : 6.11 %
PWF.PR.O Perpetual-Discount 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 23.91
Evaluated at bid price : 24.15
Bid-YTW : 6.11 %
BAM.PF.J FixedReset Disc 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.74
Evaluated at bid price : 23.75
Bid-YTW : 5.22 %
TD.PF.E FixedReset Disc 2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.60 %
BAM.PR.X FixedReset Disc 2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 14.93
Evaluated at bid price : 14.93
Bid-YTW : 5.96 %
CU.PR.E Perpetual-Discount 2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 5.88 %
MFC.PR.M FixedReset Ins Non 3.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.46
Bid-YTW : 7.91 %
PWF.PR.H Perpetual-Discount 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 23.72
Evaluated at bid price : 24.03
Bid-YTW : 6.08 %
BAM.PF.E FixedReset Disc 3.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.08 %
BIP.PR.A FixedReset Disc 3.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.82 %
GWO.PR.H Deemed-Retractible 3.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.54
Bid-YTW : 7.26 %
GWO.PR.L Deemed-Retractible 3.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.93
Bid-YTW : 6.23 %
POW.PR.A Perpetual-Discount 3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.93
Evaluated at bid price : 23.21
Bid-YTW : 6.04 %
SLF.PR.D Deemed-Retractible 3.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.50
Bid-YTW : 7.43 %
BAM.PF.G FixedReset Disc 3.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.15 %
BMO.PR.C FixedReset Disc 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.04
Evaluated at bid price : 22.45
Bid-YTW : 5.75 %
MFC.PR.N FixedReset Ins Non 3.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.40
Bid-YTW : 7.85 %
PWF.PR.K Perpetual-Discount 3.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 6.13 %
POW.PR.G Perpetual-Discount 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 23.08
Evaluated at bid price : 23.55
Bid-YTW : 5.94 %
CM.PR.Q FixedReset Disc 3.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.84 %
SLF.PR.I FixedReset Ins Non 3.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.65
Bid-YTW : 7.27 %
NA.PR.G FixedReset Disc 3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 5.77 %
BAM.PR.M Perpetual-Discount 3.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.46
Evaluated at bid price : 19.46
Bid-YTW : 6.15 %
MFC.PR.B Deemed-Retractible 3.50 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.83
Bid-YTW : 7.49 %
BIP.PR.F FixedReset Disc 3.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.64
Evaluated at bid price : 22.00
Bid-YTW : 5.81 %
IFC.PR.F Deemed-Retractible 3.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.30
Bid-YTW : 6.74 %
PWF.PR.A Floater 3.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 4.05 %
PWF.PR.S Perpetual-Discount 3.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 5.95 %
ELF.PR.H Perpetual-Discount 3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 23.12
Evaluated at bid price : 23.59
Bid-YTW : 5.82 %
SLF.PR.H FixedReset Ins Non 3.91 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.56
Bid-YTW : 7.82 %
MFC.PR.J FixedReset Ins Non 3.91 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.21
Bid-YTW : 7.24 %
MFC.PR.L FixedReset Ins Non 3.91 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.06
Bid-YTW : 7.97 %
GWO.PR.G Deemed-Retractible 4.04 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.87
Bid-YTW : 6.87 %
BAM.PF.B FixedReset Disc 4.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.46
Evaluated at bid price : 19.46
Bid-YTW : 5.92 %
EMA.PR.H FixedReset Disc 4.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.89
Evaluated at bid price : 24.20
Bid-YTW : 5.05 %
PWF.PR.P FixedReset Disc 4.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 5.94 %
CU.PR.C FixedReset Disc 4.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 17.91
Evaluated at bid price : 17.91
Bid-YTW : 5.87 %
SLF.PR.C Deemed-Retractible 4.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.65
Bid-YTW : 7.34 %
SLF.PR.J FloatingReset 4.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.69
Bid-YTW : 13.14 %

See comments for correction!

RY.PR.Z FixedReset Disc 4.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.54 %
BAM.PF.D Perpetual-Discount 4.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 6.04 %
SLF.PR.B Deemed-Retractible 4.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.90
Bid-YTW : 6.99 %
MFC.PR.Q FixedReset Ins Non 4.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.13
Bid-YTW : 7.24 %
RY.PR.M FixedReset Disc 4.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.43 %
GWO.PR.Q Deemed-Retractible 4.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.75
Bid-YTW : 6.88 %
GWO.PR.T Deemed-Retractible 4.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.65
Bid-YTW : 6.94 %
MFC.PR.I FixedReset Ins Non 4.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.40
Bid-YTW : 7.10 %
MFC.PR.C Deemed-Retractible 4.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.36
Bid-YTW : 7.61 %
GWO.PR.M Deemed-Retractible 4.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.84
Bid-YTW : 5.92 %
BMO.PR.S FixedReset Disc 4.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 5.69 %
MFC.PR.F FixedReset Ins Non 4.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.23
Bid-YTW : 9.39 %
BAM.PR.N Perpetual-Discount 4.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.68
Evaluated at bid price : 19.68
Bid-YTW : 6.08 %
IFC.PR.A FixedReset Ins Non 4.49 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.83
Bid-YTW : 8.84 %
GWO.PR.P Deemed-Retractible 4.49 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.81
Bid-YTW : 6.56 %
BMO.PR.T FixedReset Disc 4.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.67
Evaluated at bid price : 18.67
Bid-YTW : 5.67 %
IFC.PR.E Deemed-Retractible 4.56 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 6.80 %
PWF.PR.Q FloatingReset 4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 14.99
Evaluated at bid price : 14.99
Bid-YTW : 5.54 %
BMO.PR.W FixedReset Disc 4.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 5.59 %
IFC.PR.C FixedReset Ins Non 4.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.70
Bid-YTW : 8.33 %
CCS.PR.C Deemed-Retractible 4.77 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.40
Bid-YTW : 6.36 %
BAM.PR.Z FixedReset Disc 4.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.86 %
PWF.PR.R Perpetual-Discount 4.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.94
Evaluated at bid price : 23.21
Bid-YTW : 6.02 %
BAM.PF.C Perpetual-Discount 4.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.11
Evaluated at bid price : 20.11
Bid-YTW : 6.07 %
RY.PR.H FixedReset Disc 5.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.16
Evaluated at bid price : 19.16
Bid-YTW : 5.55 %
MFC.PR.G FixedReset Ins Non 5.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.51
Bid-YTW : 7.54 %
NA.PR.S FixedReset Disc 5.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.77
Evaluated at bid price : 18.77
Bid-YTW : 5.88 %
TRP.PR.E FixedReset Disc 5.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 5.76 %
IGM.PR.B Perpetual-Discount 5.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 24.46
Evaluated at bid price : 24.75
Bid-YTW : 5.95 %
TD.PF.J FixedReset Disc 5.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.52 %
BAM.PR.R FixedReset Disc 5.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 16.88
Evaluated at bid price : 16.88
Bid-YTW : 6.06 %
HSE.PR.E FixedReset Disc 5.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.34
Evaluated at bid price : 19.34
Bid-YTW : 7.07 %
CM.PR.S FixedReset Disc 5.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.44 %
RY.PR.J FixedReset Disc 5.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 5.52 %
HSE.PR.A FixedReset Disc 5.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 6.69 %
HSE.PR.C FixedReset Disc 5.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.08
Evaluated at bid price : 18.08
Bid-YTW : 7.02 %
BMO.PR.Y FixedReset Disc 5.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 5.65 %
BAM.PR.T FixedReset Disc 5.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 17.12
Evaluated at bid price : 17.12
Bid-YTW : 6.03 %
RY.PR.S FixedReset Disc 5.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.51
Evaluated at bid price : 21.83
Bid-YTW : 5.18 %
MFC.PR.H FixedReset Ins Non 5.83 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 6.81 %
TD.PF.C FixedReset Disc 5.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 5.64 %
BAM.PR.C Floater 5.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 13.45
Evaluated at bid price : 13.45
Bid-YTW : 5.15 %
TRP.PR.D FixedReset Disc 5.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 17.97
Evaluated at bid price : 17.97
Bid-YTW : 6.03 %
TRP.PR.G FixedReset Disc 5.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 6.13 %
CM.PR.P FixedReset Disc 6.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 5.69 %
IAG.PR.G FixedReset Ins Non 6.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.69
Bid-YTW : 7.26 %
TD.PF.B FixedReset Disc 6.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.06
Evaluated at bid price : 19.06
Bid-YTW : 5.61 %
TD.PF.A FixedReset Disc 6.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 5.59 %
NA.PR.E FixedReset Disc 6.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 5.80 %
TRP.PR.C FixedReset Disc 6.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 6.19 %
MFC.PR.K FixedReset Ins Non 6.69 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.82
Bid-YTW : 7.71 %
NA.PR.W FixedReset Disc 6.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 5.86 %
CM.PR.O FixedReset Disc 6.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 5.68 %
TRP.PR.B FixedReset Disc 7.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 13.02
Evaluated at bid price : 13.02
Bid-YTW : 6.06 %
TRP.PR.F FloatingReset 7.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 15.88
Evaluated at bid price : 15.88
Bid-YTW : 5.67 %
BMO.PR.E FixedReset Disc 7.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.57
Evaluated at bid price : 21.90
Bid-YTW : 5.48 %
TD.PF.K FixedReset Disc 8.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.36
Evaluated at bid price : 21.65
Bid-YTW : 5.43 %
HSE.PR.G FixedReset Disc 8.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 19.64
Evaluated at bid price : 19.64
Bid-YTW : 6.91 %
TRP.PR.A FixedReset Disc 8.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 15.84
Evaluated at bid price : 15.84
Bid-YTW : 6.10 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.S FixedReset Disc 48,537 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.51
Evaluated at bid price : 21.83
Bid-YTW : 5.18 %
CM.PR.S FixedReset Disc 41,069 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.44 %
IFC.PR.C FixedReset Ins Non 32,500 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.70
Bid-YTW : 8.33 %
BNS.PR.I FixedReset Disc 32,383 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.43
Evaluated at bid price : 21.43
Bid-YTW : 5.40 %
RY.PR.E Deemed-Retractible 30,100 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 4.67 %
CM.PR.P FixedReset Disc 29,319 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 5.69 %
There were 28 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.C FixedReset Disc Quote: 18.08 – 19.39
Spot Rate : 1.3100
Average : 0.8578

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 18.08
Evaluated at bid price : 18.08
Bid-YTW : 7.02 %

BAM.PR.K Floater Quote: 13.20 – 14.30
Spot Rate : 1.1000
Average : 0.7406

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 13.20
Evaluated at bid price : 13.20
Bid-YTW : 5.25 %

PWF.PR.E Perpetual-Discount Quote: 22.30 – 23.35
Spot Rate : 1.0500
Average : 0.7116

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 22.07
Evaluated at bid price : 22.30
Bid-YTW : 6.27 %

PWF.PR.L Perpetual-Discount Quote: 21.12 – 21.90
Spot Rate : 0.7800
Average : 0.4902

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-28
Maturity Price : 21.12
Evaluated at bid price : 21.12
Bid-YTW : 6.15 %

GWO.PR.L Deemed-Retractible Quote: 23.93 – 24.75
Spot Rate : 0.8200
Average : 0.5492

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.93
Bid-YTW : 6.23 %

IFC.PR.G FixedReset Ins Non Quote: 19.60 – 20.26
Spot Rate : 0.6600
Average : 0.4074

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.60
Bid-YTW : 7.66 %

December 27, 2018

Friday, December 28th, 2018
rollercoaster_181227
Click for Big

TXPR touched a new 52-week low of 596.56 undercutting the prior 52-week low of 599.70 reached on December 24 before closing at 600.96, up 0.15% on the day. It gained 73bp in the last half hour! Volume was average in the context of the past thirty days at 2.39-million shares.

CPD closed at 12.08, down 0.17% from December 24’s close. Volume of 394,950 was third-highest of the past thirty days, beaten only by December 12 and December 6.

ZPR closed at 9.73, up 0.21% on the day. Volume of 606,299 was the fourth-highest of the past thirty days.

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 -0.1263 % 2,341.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1263 % 4,297.0
Floater 5.00 % 5.33 % 44,530 14.94 4 -0.1263 % 2,476.4
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0235 % 3,144.5
SplitShare 4.68 % 5.38 % 94,708 4.56 7 -0.0235 % 3,755.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0235 % 2,929.9
Perpetual-Premium 5.73 % 5.35 % 107,497 14.82 2 0.3683 % 2,788.8
Perpetual-Discount 5.96 % 6.18 % 74,990 13.60 33 -0.5197 % 2,780.0
FixedReset Disc 5.42 % 5.97 % 225,990 13.91 66 0.1780 % 2,074.1
Deemed-Retractible 5.70 % 7.18 % 97,444 8.08 27 -0.4836 % 2,776.4
FloatingReset 4.31 % 5.01 % 42,147 2.93 7 0.4226 % 2,362.2
FixedReset Prem 5.19 % 4.72 % 286,585 2.25 14 -0.0953 % 2,496.4
FixedReset Bank Non 2.99 % 4.32 % 148,380 2.89 6 0.2288 % 2,554.6
FixedReset Ins Non 5.35 % 7.85 % 150,798 8.24 22 -0.9066 % 2,080.6
Performance Highlights
Issue Index Change Notes
MFC.PR.K FixedReset Ins Non -4.44 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.64
Bid-YTW : 8.51 %
IAG.PR.G FixedReset Ins Non -3.53 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.57
Bid-YTW : 7.97 %
GWO.PR.N FixedReset Ins Non -3.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.70
Bid-YTW : 9.79 %
MFC.PR.Q FixedReset Ins Non -2.77 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.30
Bid-YTW : 7.76 %
CU.PR.E Perpetual-Discount -2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.05 %
MFC.PR.R FixedReset Ins Non -2.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.09
Bid-YTW : 6.49 %
IFC.PR.A FixedReset Ins Non -2.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.15
Bid-YTW : 9.37 %
IFC.PR.F Deemed-Retractible -2.31 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.53
Bid-YTW : 7.18 %
IFC.PR.E Deemed-Retractible -2.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.04
Bid-YTW : 7.35 %
GWO.PR.F Deemed-Retractible -1.94 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.20
Bid-YTW : 6.34 %
PWF.PR.Q FloatingReset -1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 14.33
Evaluated at bid price : 14.33
Bid-YTW : 5.80 %
SLF.PR.I FixedReset Ins Non -1.81 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.67 %
MFC.PR.F FixedReset Ins Non -1.80 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.63
Bid-YTW : 9.89 %
CCS.PR.C Deemed-Retractible -1.79 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.38
Bid-YTW : 6.93 %
PWF.PR.R Perpetual-Discount -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 22.15
Evaluated at bid price : 22.15
Bid-YTW : 6.33 %
EIT.PR.B SplitShare -1.75 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 23.62
Bid-YTW : 5.94 %
BIP.PR.E FixedReset Disc -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.85 %
POW.PR.B Perpetual-Discount -1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 21.36
Evaluated at bid price : 21.36
Bid-YTW : 6.29 %
TD.PF.B FixedReset Disc -1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 17.96
Evaluated at bid price : 17.96
Bid-YTW : 5.96 %
POW.PR.G Perpetual-Discount -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 22.40
Evaluated at bid price : 22.80
Bid-YTW : 6.14 %
GWO.PR.H Deemed-Retractible -1.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.92
Bid-YTW : 7.64 %
TD.PF.D FixedReset Disc -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.88 %
BAM.PR.C Floater -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 12.70
Evaluated at bid price : 12.70
Bid-YTW : 5.46 %
PWF.PR.H Perpetual-Discount -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 23.06
Evaluated at bid price : 23.32
Bid-YTW : 6.27 %
SLF.PR.H FixedReset Ins Non -1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.90
Bid-YTW : 8.27 %
GWO.PR.Q Deemed-Retractible -1.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.85
Bid-YTW : 7.41 %
BAM.PF.G FixedReset Disc -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.35 %
BAM.PF.J FixedReset Disc -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 22.40
Evaluated at bid price : 23.11
Bid-YTW : 5.38 %
BMO.PR.C FixedReset Disc -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 5.94 %
TD.PF.A FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 17.88
Evaluated at bid price : 17.88
Bid-YTW : 5.94 %
BMO.PR.E FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.93 %
W.PR.J Perpetual-Discount -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 23.37
Evaluated at bid price : 23.66
Bid-YTW : 6.03 %
PWF.PR.T FixedReset Disc -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 6.07 %
GWO.PR.T Deemed-Retractible -1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.75
Bid-YTW : 7.47 %
CU.PR.D Perpetual-Discount -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.91 %
NA.PR.E FixedReset Disc -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.69
Evaluated at bid price : 18.69
Bid-YTW : 6.18 %
EMA.PR.F FixedReset Disc -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 17.91
Evaluated at bid price : 17.91
Bid-YTW : 6.46 %
GWO.PR.P Deemed-Retractible -1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.83
Bid-YTW : 7.11 %
TD.PF.C FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 17.76
Evaluated at bid price : 17.76
Bid-YTW : 5.98 %
CM.PR.S FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 5.74 %
GWO.PR.G Deemed-Retractible -1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.02
Bid-YTW : 7.37 %
GWO.PR.R Deemed-Retractible -1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.18
Bid-YTW : 7.42 %
POW.PR.A Perpetual-Discount -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 6.23 %
IAG.PR.I FixedReset Ins Non -1.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.62
Bid-YTW : 7.09 %
BAM.PR.B Floater 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 5.33 %
MFC.PR.H FixedReset Ins Non 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.08
Bid-YTW : 7.51 %
BNS.PR.F FloatingReset 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.71
Bid-YTW : 5.01 %
TRP.PR.G FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.50 %
CM.PR.R FixedReset Disc 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 21.45
Evaluated at bid price : 21.80
Bid-YTW : 5.86 %
BAM.PR.T FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 16.18
Evaluated at bid price : 16.18
Bid-YTW : 6.38 %
BAM.PF.A FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 6.02 %
CGI.PR.D SplitShare 1.24 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2023-06-14
Maturity Price : 25.00
Evaluated at bid price : 24.50
Bid-YTW : 4.30 %
BAM.PF.I FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-03-31
Maturity Price : 25.00
Evaluated at bid price : 24.90
Bid-YTW : 4.94 %
BAM.PR.Z FixedReset Disc 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.14 %
NA.PR.G FixedReset Disc 1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.97 %
IGM.PR.B Perpetual-Discount 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 23.59
Evaluated at bid price : 23.86
Bid-YTW : 6.29 %
TRP.PR.A FixedReset Disc 2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 14.55
Evaluated at bid price : 14.55
Bid-YTW : 6.64 %
TRP.PR.D FixedReset Disc 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 6.41 %
HSE.PR.G FixedReset Disc 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 7.52 %
PWF.PR.P FixedReset Disc 3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 13.93
Evaluated at bid price : 13.93
Bid-YTW : 6.18 %
TRP.PR.H FloatingReset 3.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 12.53
Evaluated at bid price : 12.53
Bid-YTW : 5.91 %
HSE.PR.C FixedReset Disc 3.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 17.12
Evaluated at bid price : 17.12
Bid-YTW : 7.41 %
HSE.PR.A FixedReset Disc 3.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 12.46
Evaluated at bid price : 12.46
Bid-YTW : 7.06 %
HSE.PR.E FixedReset Disc 4.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 7.45 %
TRP.PR.E FixedReset Disc 4.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.03
Evaluated at bid price : 18.03
Bid-YTW : 6.07 %
Volume Highlights
Issue Index Shares
Traded
Notes
TD.PF.K FixedReset Disc 138,550 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.03
Evaluated at bid price : 20.03
Bid-YTW : 5.90 %
BNS.PR.I FixedReset Disc 81,378 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.88
Evaluated at bid price : 20.88
Bid-YTW : 5.55 %
RY.PR.S FixedReset Disc 58,710 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.63
Evaluated at bid price : 20.63
Bid-YTW : 5.51 %
BMO.PR.E FixedReset Disc 57,374 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.93 %
IFC.PR.G FixedReset Ins Non 44,700 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.30
Bid-YTW : 7.85 %
BIP.PR.F FixedReset Disc 39,930 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.04 %
There were 61 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.D FixedReset Disc Quote: 17.20 – 18.41
Spot Rate : 1.2100
Average : 0.7763

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 6.41 %

MFC.PR.Q FixedReset Ins Non Quote: 19.30 – 20.24
Spot Rate : 0.9400
Average : 0.5642

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.30
Bid-YTW : 7.76 %

IFC.PR.F Deemed-Retractible Quote: 21.53 – 22.43
Spot Rate : 0.9000
Average : 0.5598

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.53
Bid-YTW : 7.18 %

TD.PF.F Perpetual-Discount Quote: 23.41 – 24.21
Spot Rate : 0.8000
Average : 0.4790

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 23.05
Evaluated at bid price : 23.41
Bid-YTW : 5.30 %

TRP.PR.G FixedReset Disc Quote: 18.61 – 19.43
Spot Rate : 0.8200
Average : 0.5573

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.50 %

TD.PF.D FixedReset Disc Quote: 20.00 – 20.87
Spot Rate : 0.8700
Average : 0.6078

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.88 %

December 24, 2018

Monday, December 24th, 2018
explosion_181224
Click for Big

Equities got hammered again:

The S&P 500 tumbled to the brink of a bear market on Monday as U.S. stocks extended their steep sell-off in a pre-holiday shortened session, with investors rattled by the U.S. Treasury secretary’s convening of a crisis group and by other political developments.

All three major indexes ended down more than 2 percent the day before the Christmas holiday. The S&P 500 finished about 19.8 percent below its Sept. 20 closing high, just shy of the 20 percent threshold commonly used to define a bear market.

Treasury Secretary Steven Mnuchin called top U.S. bankers on Sunday amid the pullback in stocks and said he was calling a meeting of financial regulators to discuss ways to ensure “normal market operations.”

Investors also were grappling with the federal government shutdown and reports that President Donald Trump privately discussed the possibility of firing the Federal Reserve chairman.

And the ever-helpful President of the United States weighed in:

trumpfedtweet_181224
Click for Big

Criticizing the Fed is bad enough, but I can’t imagine anything worse for the US – and global – economy than firing Powell, an idea that has been allegedly discussed. In the first place, who’s going to take the job? None of the top-rank people want to be remembered as Trump’s Lackey. So it will be somebody with a less than sterling central banking reputation. And secondly, will the Chairman be able to force the votes on the FOMC? FOMC members are pretty weighty guys in their own right – it will be pretty funny to see a lot of 11-1 votes with the Chairman dissenting!

TXPR closed at 600.04, down 0.82% from December 21‘s close, after touching a new 52-week low of 599.70, undercutting the previous 52-week low of 604.53 set on December 21. Volume was low at 1.75-million shares in a day that closed early so practitioners of the highest paid profession on earth could go out and complain about lousy service in bars nowadays.

CPD closed at 12.10, down 0.74% from yesterday’s close after touching a new 52-week low of 11.96, undercutting the prior 52-week low of 12.11 touched on December 6. Volume of 239,285 was higher than might be expected given the early close.

ZPR closed at 9.71, down 1.52% on the day; the close marked a new 52-week low, undercutting the prior 52-week low of 9.80 reached on December 6. Volume of 256,406 was surprisingly high for Christmas Eve.

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 -0.6454 % 2,344.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.6454 % 4,302.4
Floater 4.99 % 5.32 % 44,976 14.96 4 -0.6454 % 2,479.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.4837 % 3,145.2
SplitShare 4.68 % 5.38 % 95,566 4.57 7 0.4837 % 3,756.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4837 % 2,930.6
Perpetual-Premium 5.76 % 5.41 % 107,218 14.75 2 -1.5908 % 2,778.6
Perpetual-Discount 5.92 % 6.16 % 73,662 13.70 33 -0.9067 % 2,794.6
FixedReset Disc 5.43 % 5.99 % 229,735 13.91 66 -0.4483 % 2,070.5
Deemed-Retractible 5.67 % 8.18 % 98,641 5.08 27 -0.5831 % 2,789.9
FloatingReset 4.33 % 5.38 % 39,023 2.94 7 -0.3276 % 2,352.3
FixedReset Prem 5.18 % 4.65 % 280,478 2.26 14 -0.2348 % 2,498.8
FixedReset Bank Non 3.00 % 4.37 % 145,188 2.90 6 0.0069 % 2,548.8
FixedReset Ins Non 5.32 % 9.69 % 151,923 5.14 22 -1.8043 % 2,099.6
Performance Highlights
Issue Index Change Notes
PWF.PR.P FixedReset Disc -7.90 % A nonsensical quote provided at high cost from Nonsense Central, as the issue traded 800 shares today in four trades in a range of 14.35-79 before being quoted at 13.52-48.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 13.52
Evaluated at bid price : 13.52
Bid-YTW : 6.36 %

IGM.PR.B Perpetual-Discount -5.07 % This quote has some justification, as the issue traded 4,510 shares today in a range of 23.39-24.65 before being quoted at 23.40-24.14

Kind of a wide range, though!

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 6.41 %

BAM.PR.X FixedReset Disc -4.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 14.53
Evaluated at bid price : 14.53
Bid-YTW : 6.11 %
MFC.PR.K FixedReset Ins Non -3.90 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.46
Bid-YTW : 10.07 %
IAG.PR.I FixedReset Ins Non -3.56 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.83
Bid-YTW : 8.34 %
BMO.PR.E FixedReset Disc -3.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.85 %
BAM.PF.J FixedReset Disc -3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 22.56
Evaluated at bid price : 23.40
Bid-YTW : 5.30 %
SLF.PR.I FixedReset Ins Non -3.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.35
Bid-YTW : 9.16 %
BMO.PR.C FixedReset Disc -3.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 21.74
Evaluated at bid price : 22.02
Bid-YTW : 5.87 %
MFC.PR.H FixedReset Ins Non -3.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.86
Bid-YTW : 9.69 %
PWF.PR.K Perpetual-Discount -3.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 6.32 %
PWF.PR.E Perpetual-Discount -2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 6.30 %
BAM.PF.A FixedReset Disc -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.27
Evaluated at bid price : 20.27
Bid-YTW : 6.09 %
CM.PR.O FixedReset Disc -2.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 17.61
Evaluated at bid price : 17.61
Bid-YTW : 6.14 %
MFC.PR.G FixedReset Ins Non -2.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.60
Bid-YTW : 10.13 %
PWF.PR.G Perpetual-Discount -2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 23.44
Evaluated at bid price : 23.73
Bid-YTW : 6.32 %
SLF.PR.J FloatingReset -2.57 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.00
Bid-YTW : 14.07 %
BMO.PR.Y FixedReset Disc -2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 6.00 %
SLF.PR.D Deemed-Retractible -2.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.75
Bid-YTW : 10.07 %
PWF.PR.I Perpetual-Premium -2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 24.16
Evaluated at bid price : 24.41
Bid-YTW : 6.25 %
PWF.PR.H Perpetual-Discount -2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 23.34
Evaluated at bid price : 23.63
Bid-YTW : 6.18 %
GWO.PR.M Deemed-Retractible -2.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.74
Bid-YTW : 6.85 %
RY.PR.Z FixedReset Disc -2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.24
Evaluated at bid price : 18.24
Bid-YTW : 5.77 %
SLF.PR.H FixedReset Ins Non -2.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.12
Bid-YTW : 10.67 %
PWF.PR.Z Perpetual-Discount -2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 6.29 %
BAM.PR.R FixedReset Disc -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 15.95
Evaluated at bid price : 15.95
Bid-YTW : 6.40 %
BAM.PR.C Floater -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 12.87
Evaluated at bid price : 12.87
Bid-YTW : 5.38 %
MFC.PR.I FixedReset Ins Non -2.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.53
Bid-YTW : 9.36 %
GWO.PR.N FixedReset Ins Non -2.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.20
Bid-YTW : 13.48 %
PWF.PR.Q FloatingReset -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 14.61
Evaluated at bid price : 14.61
Bid-YTW : 5.68 %
TRP.PR.A FixedReset Disc -1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 6.77 %
MFC.PR.F FixedReset Ins Non -1.91 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.88
Bid-YTW : 13.90 %
PWF.PR.O Perpetual-Discount -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 23.36
Evaluated at bid price : 23.65
Bid-YTW : 6.23 %
RY.PR.H FixedReset Disc -1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 5.84 %
IFC.PR.G FixedReset Ins Non -1.87 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.41
Bid-YTW : 9.80 %
TRP.PR.C FixedReset Disc -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 12.71
Evaluated at bid price : 12.71
Bid-YTW : 6.65 %
BIP.PR.F FixedReset Disc -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.01 %
BAM.PF.B FixedReset Disc -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.14 %
MFC.PR.C Deemed-Retractible -1.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.39
Bid-YTW : 10.56 %
SLF.PR.G FixedReset Ins Non -1.80 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.16
Bid-YTW : 13.84 %
EMA.PR.F FixedReset Disc -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 6.38 %
IAG.PR.G FixedReset Ins Non -1.79 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.25
Bid-YTW : 9.21 %
TD.PF.C FixedReset Disc -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 17.96
Evaluated at bid price : 17.96
Bid-YTW : 5.91 %
NA.PR.W FixedReset Disc -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.24 %
POW.PR.A Perpetual-Discount -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 22.47
Evaluated at bid price : 22.73
Bid-YTW : 6.17 %
CM.PR.Q FixedReset Disc -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 19.37
Evaluated at bid price : 19.37
Bid-YTW : 6.05 %
BMO.PR.D FixedReset Disc -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 21.06
Evaluated at bid price : 21.06
Bid-YTW : 5.96 %
BAM.PR.T FixedReset Disc -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 15.99
Evaluated at bid price : 15.99
Bid-YTW : 6.45 %
PWF.PR.F Perpetual-Discount -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.25 %
MFC.PR.M FixedReset Ins Non -1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.83
Bid-YTW : 10.86 %
GWO.PR.L Deemed-Retractible -1.45 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.06
Bid-YTW : 7.27 %
PWF.PR.T FixedReset Disc -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.34
Evaluated at bid price : 18.34
Bid-YTW : 5.99 %
PWF.PR.A Floater -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 16.66
Evaluated at bid price : 16.66
Bid-YTW : 4.19 %
MFC.PR.J FixedReset Ins Non -1.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.62
Bid-YTW : 9.32 %
BAM.PF.I FixedReset Disc -1.37 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-03-31
Maturity Price : 25.00
Evaluated at bid price : 24.56
Bid-YTW : 5.39 %
BNS.PR.I FixedReset Disc -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.96
Evaluated at bid price : 20.96
Bid-YTW : 5.52 %
POW.PR.G Perpetual-Discount -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 22.87
Evaluated at bid price : 23.14
Bid-YTW : 6.06 %
SLF.PR.E Deemed-Retractible -1.31 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.87
Bid-YTW : 10.00 %
PWF.PR.S Perpetual-Discount -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.19 %
TD.PF.F Perpetual-Discount -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 23.17
Evaluated at bid price : 23.55
Bid-YTW : 5.26 %
MFC.PR.B Deemed-Retractible -1.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.12
Bid-YTW : 9.96 %
GWO.PR.T Deemed-Retractible -1.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.00
Bid-YTW : 8.61 %
BIP.PR.C FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-09-30
Maturity Price : 25.00
Evaluated at bid price : 24.30
Bid-YTW : 6.48 %
BIP.PR.E FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 21.58
Evaluated at bid price : 21.88
Bid-YTW : 5.73 %
MFC.PR.O FixedReset Ins Non -1.21 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-06-19
Maturity Price : 25.00
Evaluated at bid price : 25.34
Bid-YTW : 5.08 %
PWF.PR.L Perpetual-Discount -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.96
Evaluated at bid price : 20.96
Bid-YTW : 6.19 %
MFC.PR.L FixedReset Ins Non -1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.25
Bid-YTW : 11.34 %
CU.PR.C FixedReset Disc -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.07 %
IFC.PR.C FixedReset Ins Non -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.75
Bid-YTW : 11.72 %
MFC.PR.N FixedReset Ins Non -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.71
Bid-YTW : 10.88 %
BMO.PR.T FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 5.88 %
PWF.PR.R Perpetual-Discount -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 22.22
Evaluated at bid price : 22.55
Bid-YTW : 6.19 %
NA.PR.C FixedReset Disc -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.81
Evaluated at bid price : 20.81
Bid-YTW : 6.28 %
BMO.PR.W FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 5.84 %
GWO.PR.I Deemed-Retractible -1.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.76
Bid-YTW : 10.12 %
W.PR.J Perpetual-Discount 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 23.68
Evaluated at bid price : 23.95
Bid-YTW : 5.95 %
BNS.PR.D FloatingReset 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.76
Bid-YTW : 4.55 %
EIT.PR.A SplitShare 1.29 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 24.42
Bid-YTW : 5.38 %
BAM.PR.N Perpetual-Discount 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.86
Evaluated at bid price : 18.86
Bid-YTW : 6.34 %
TD.PF.I FixedReset Disc 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 21.39
Evaluated at bid price : 21.39
Bid-YTW : 5.77 %
NA.PR.E FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 18.91
Evaluated at bid price : 18.91
Bid-YTW : 6.11 %
BIP.PR.D FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 22.44
Evaluated at bid price : 23.05
Bid-YTW : 6.06 %
BAM.PF.G FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 19.14
Evaluated at bid price : 19.14
Bid-YTW : 6.26 %
BAM.PR.K Floater 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 13.02
Evaluated at bid price : 13.02
Bid-YTW : 5.32 %
EIT.PR.B SplitShare 1.78 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 24.04
Bid-YTW : 5.60 %
HSE.PR.G FixedReset Disc 57.32 % Just a reversal of yesterday‘s nonsense.

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 17.62
Evaluated at bid price : 17.62
Bid-YTW : 7.70 %

Volume Highlights
Issue Index Shares
Traded
Notes
PVS.PR.B SplitShare 100,404 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2019-01-10
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 4.44 %
TRP.PR.J FixedReset Prem 59,150 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.22
Bid-YTW : 5.30 %
RY.PR.L FixedReset Bank Non 40,500 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.07
Bid-YTW : 4.66 %
RY.PR.S FixedReset Disc 37,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 5.35 %
MFC.PR.B Deemed-Retractible 24,678 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.12
Bid-YTW : 9.96 %
TD.PF.K FixedReset Disc 24,189 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 5.87 %
There were 28 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
PWF.PR.P FixedReset Disc Quote: 13.52 – 14.48
Spot Rate : 0.9600
Average : 0.5799

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 13.52
Evaluated at bid price : 13.52
Bid-YTW : 6.36 %

IGM.PR.B Perpetual-Discount Quote: 23.40 – 24.14
Spot Rate : 0.7400
Average : 0.4661

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 6.41 %

GWO.PR.M Deemed-Retractible Quote: 23.74 – 24.22
Spot Rate : 0.4800
Average : 0.3499

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.74
Bid-YTW : 6.85 %

HSE.PR.C FixedReset Disc Quote: 16.51 – 16.98
Spot Rate : 0.4700
Average : 0.3423

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 7.68 %

GWO.PR.P Deemed-Retractible Quote: 22.08 – 22.43
Spot Rate : 0.3500
Average : 0.2401

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.08
Bid-YTW : 7.88 %

TD.PF.E FixedReset Disc Quote: 20.61 – 21.05
Spot Rate : 0.4400
Average : 0.3430

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-24
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 5.79 %

December 21, 2018

Friday, December 21st, 2018
explosion_181221
Click for Big

TXPR closed at 605.00, down 0.58% from yesterday‘s close, after touching a new 52-week low of 604.53, undercutting the previous 52-week low of 607.63 set on December 20. Volume was elevated at 3.38-million shares, but nothing special by recent standards. There was a huge number of issues trading more than 10,000 shares, suggesting that there is a lot of retail action.

CPD closed at 12.19, up 0.49% from yesterday’s very poor close and a little above the 52-week low of 12.11 touched on December 6. Volume of 207,008 was high, but nothing special in the context of the past thirty days.

ZPR closed at 9.86, down 0.30% on the day, and within shouting distance of the 52-week low of 9.80 reached on December 6. Volume of 513,624 was fifth-highest of the past thirty days.

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 0.5951 % 2,359.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.5951 % 4,330.4
Floater 4.96 % 5.27 % 45,371 15.06 4 0.5951 % 2,495.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.0354 % 3,130.1
SplitShare 4.70 % 5.60 % 96,642 4.57 7 0.0354 % 3,738.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0354 % 2,916.5
Perpetual-Premium 5.66 % 6.09 % 151,554 13.68 2 -0.3811 % 2,823.5
Perpetual-Discount 5.87 % 6.06 % 74,808 13.77 33 -0.2264 % 2,820.1
FixedReset Disc 5.40 % 5.99 % 237,601 13.88 66 -1.5084 % 2,079.8
Deemed-Retractible 5.64 % 8.18 % 99,708 5.10 27 -0.5848 % 2,806.2
FloatingReset 4.27 % 5.38 % 40,632 2.95 7 -0.2645 % 2,360.0
FixedReset Prem 5.17 % 4.48 % 284,785 2.27 14 -0.0531 % 2,504.7
FixedReset Bank Non 3.00 % 4.43 % 145,805 2.91 6 0.1458 % 2,548.6
FixedReset Ins Non 5.24 % 9.13 % 154,379 5.17 22 -0.5102 % 2,138.2
Performance Highlights
Issue Index Change Notes
HSE.PR.G FixedReset Disc -37.78 % A nonsensical quote provided at high cost from Nonsense Central, as the issue traded 4,965 shares today in a range of 18.00-30 before being quoted at 11.20-18.00.

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

Come on, guys! I haven’t been chasing after stupid quotes for the past little while because there’s been a lot going on and there are bigger fish to fry, but this is ridiculous. Get your acts together!

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 12.25 %

CM.PR.R FixedReset Disc -3.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.61
Evaluated at bid price : 21.87
Bid-YTW : 6.00 %
IFC.PR.A FixedReset Ins Non -3.69 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.65
Bid-YTW : 12.45 %
VNR.PR.A FixedReset Disc -3.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.03 %
TD.PF.K FixedReset Disc -3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.32
Evaluated at bid price : 20.32
Bid-YTW : 5.89 %
NA.PR.G FixedReset Disc -3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.11 %
TD.PF.A FixedReset Disc -3.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 5.99 %
HSE.PR.A FixedReset Disc -3.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 7.41 %
TD.PF.I FixedReset Disc -2.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 5.93 %
BIP.PR.E FixedReset Disc -2.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.78
Evaluated at bid price : 22.15
Bid-YTW : 5.69 %
TRP.PR.K FixedReset Disc -2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 22.93
Evaluated at bid price : 24.03
Bid-YTW : 5.92 %
HSE.PR.E FixedReset Disc -2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 7.88 %
MFC.PR.H FixedReset Ins Non -2.43 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.50
Bid-YTW : 9.13 %
GWO.PR.M Deemed-Retractible -2.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.30
Bid-YTW : 6.37 %
CM.PR.P FixedReset Disc -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 17.63
Evaluated at bid price : 17.63
Bid-YTW : 6.11 %
CU.PR.F Perpetual-Discount -2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 19.33
Evaluated at bid price : 19.33
Bid-YTW : 5.89 %
BMO.PR.S FixedReset Disc -2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 6.02 %
RY.PR.Z FixedReset Disc -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.66
Evaluated at bid price : 18.66
Bid-YTW : 5.76 %
BMO.PR.W FixedReset Disc -1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.19
Evaluated at bid price : 18.19
Bid-YTW : 5.89 %
NA.PR.C FixedReset Disc -1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.03
Evaluated at bid price : 21.03
Bid-YTW : 6.30 %
IAG.PR.G FixedReset Ins Non -1.95 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.60
Bid-YTW : 8.89 %
HSE.PR.C FixedReset Disc -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 16.36
Evaluated at bid price : 16.36
Bid-YTW : 7.88 %
BMO.PR.E FixedReset Disc -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 5.71 %
IAG.PR.A Deemed-Retractible -1.75 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.24
Bid-YTW : 8.70 %
RY.PR.S FixedReset Disc -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 5.51 %
BIP.PR.C FixedReset Disc -1.60 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-09-30
Maturity Price : 25.00
Evaluated at bid price : 24.60
Bid-YTW : 5.97 %
GWO.PR.P Deemed-Retractible -1.59 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.30
Bid-YTW : 7.67 %
GWO.PR.R Deemed-Retractible -1.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.52
Bid-YTW : 8.66 %
GWO.PR.I Deemed-Retractible -1.56 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.95
Bid-YTW : 9.90 %
IFC.PR.E Deemed-Retractible -1.56 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.50
Bid-YTW : 8.18 %
RY.PR.H FixedReset Disc -1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 5.85 %
BMO.PR.T FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 5.93 %
IFC.PR.C FixedReset Ins Non -1.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.94
Bid-YTW : 11.54 %
RY.PR.O Perpetual-Discount -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 22.72
Evaluated at bid price : 23.05
Bid-YTW : 5.36 %
BMO.PR.C FixedReset Disc -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 22.24
Evaluated at bid price : 22.75
Bid-YTW : 5.74 %
BMO.PR.D FixedReset Disc -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.41
Evaluated at bid price : 21.41
Bid-YTW : 5.94 %
SLF.PR.I FixedReset Ins Non -1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.00
Bid-YTW : 8.55 %
EIT.PR.A SplitShare -1.23 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 24.11
Bid-YTW : 5.65 %
BIP.PR.F FixedReset Disc -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.46
Evaluated at bid price : 21.75
Bid-YTW : 5.88 %
PWF.PR.T FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.03 %
BAM.PR.T FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 6.45 %
BAM.PR.Z FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 19.56
Evaluated at bid price : 19.56
Bid-YTW : 6.33 %
TD.PF.C FixedReset Disc -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.28
Evaluated at bid price : 18.28
Bid-YTW : 5.92 %
POW.PR.B Perpetual-Discount -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.59
Evaluated at bid price : 21.85
Bid-YTW : 6.12 %
BIP.PR.D FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 22.21
Evaluated at bid price : 22.69
Bid-YTW : 6.24 %
SLF.PR.H FixedReset Ins Non -1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.50
Bid-YTW : 10.29 %
RY.PR.N Perpetual-Discount -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 22.67
Evaluated at bid price : 22.99
Bid-YTW : 5.37 %
BNS.PR.I FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.52 %
NA.PR.E FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 6.28 %
CM.PR.O FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.09 %
TD.PF.B FixedReset Disc -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 5.93 %
PWF.PR.S Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 6.10 %
SLF.PR.A Deemed-Retractible -1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.12
Bid-YTW : 8.99 %
CU.PR.D Perpetual-Discount -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.83 %
SLF.PR.D Deemed-Retractible 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.21
Bid-YTW : 9.57 %
BAM.PR.C Floater 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 5.27 %
PWF.PR.H Perpetual-Discount 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 23.95
Evaluated at bid price : 24.20
Bid-YTW : 6.03 %
IFC.PR.F Deemed-Retractible 1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.04
Bid-YTW : 7.79 %
BAM.PF.B FixedReset Disc 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 6.15 %
EML.PR.A FixedReset Ins Non 1.39 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : 4.67 %
BAM.PR.X FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 15.15
Evaluated at bid price : 15.15
Bid-YTW : 5.98 %
PWF.PR.A Floater 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 4.13 %
CM.PR.S FixedReset Disc 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 19.81
Evaluated at bid price : 19.81
Bid-YTW : 5.77 %
CGI.PR.D SplitShare 1.57 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2023-06-14
Maturity Price : 25.00
Evaluated at bid price : 24.00
Bid-YTW : 4.79 %
PWF.PR.R Perpetual-Discount 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 22.39
Evaluated at bid price : 22.80
Bid-YTW : 6.12 %
MFC.PR.F FixedReset Ins Non 1.73 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.15
Bid-YTW : 13.57 %
BAM.PF.A FixedReset Disc 2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 6.00 %
Volume Highlights
Issue Index Shares
Traded
Notes
BNS.PR.I FixedReset Disc 72,350 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.52 %
BAM.PR.R FixedReset Disc 64,189 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 6.37 %
TD.PF.K FixedReset Disc 60,338 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.32
Evaluated at bid price : 20.32
Bid-YTW : 5.89 %
PWF.PR.P FixedReset Disc 53,160 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 14.68
Evaluated at bid price : 14.68
Bid-YTW : 5.99 %
NA.PR.W FixedReset Disc 50,351 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.25 %
TD.PF.D FixedReset Disc 50,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 5.86 %
There were 85 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.G FixedReset Disc Quote: 11.20 – 18.00
Spot Rate : 6.8000
Average : 3.6564

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 12.25 %

HSE.PR.A FixedReset Disc Quote: 12.10 – 12.99
Spot Rate : 0.8900
Average : 0.5822

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 7.41 %

EMA.PR.H FixedReset Disc Quote: 23.15 – 24.00
Spot Rate : 0.8500
Average : 0.5885

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 22.38
Evaluated at bid price : 23.15
Bid-YTW : 5.31 %

HSE.PR.E FixedReset Disc Quote: 17.56 – 18.19
Spot Rate : 0.6300
Average : 0.4293

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 17.56
Evaluated at bid price : 17.56
Bid-YTW : 7.88 %

BMO.PR.Q FixedReset Bank Non Quote: 22.40 – 22.98
Spot Rate : 0.5800
Average : 0.3878

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.40
Bid-YTW : 5.77 %

BIP.PR.E FixedReset Disc Quote: 22.15 – 22.73
Spot Rate : 0.5800
Average : 0.3895

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-21
Maturity Price : 21.78
Evaluated at bid price : 22.15
Bid-YTW : 5.69 %

December 20, 2018

Friday, December 21st, 2018
explosion_181220
Click for Big

Wild drone story in the news today:

Britain sent troops to its second-biggest airport after an unprecedented attempt to cripple Christmas travel with large drones forced all flights to be cancelled on Thursday.

Flights were halted at 2103 GMT on Wednesday after two drones were spotted near the airfield, triggering the biggest disruption at Gatwick since a volcanic ash cloud in 2010.

Police said more than 20 units were hunting the operators near Gatwick airport, 50 kilometres south of London.

Transport Secretary Chris Grayling said it was clearly a deliberate act. “This is a commercial-sized drone,” he said. “Every time Gatwick tries to reopen the runway, the drones reappear.”

Richard Parker, head of air traffic management technology firm Altitude Angel, said this was the first time a major airport had been hit by such a sustained and deliberate incursion into its airspace.

“It’s sophisticated, not from a technology side, but it’s organized. People have charged lots of batteries, and are deliberately trying to avoid being caught, probably by driving around to different locations,” he told Reuters.

“It really is unprecedented.”

Gatwick’s Chief Operating Officer Chris Woodroofe described one of the drones as a heavy industrial model.

“The police advice is that it would be dangerous to seek to shoot the drone down because of what may happen to the stray bullets,” he told BBC radio.

This is probably kids having a laugh, but it’s also the sort of low-grade annoyance that an irate foreign power might try. Particularly an irate foreign power that has no problem actually killing people in the UK.

I think global authorities have screwed up. What they really need at Gatwick, right now, are drone fighters. Semi-autonomous drone killers, perhaps equipped with nets.

TXPR closed at 608.54, down 0.92% from Wednesday‘s close, after touching a new 52-week low of 607.63, undercutting the previous 52-week low of 609.77 set on December 6. Volume was very high at 4.85-million shares, beaten over the past thirty days only by December 12 at 4.96-million. There was a huge number of issues trading more than 10,000 shares, suggesting that there is a lot of retail action.

CPD closed at 12.13, down 2.10% from Wednesday’s close and just barely above the 52-week low of 12.11 touched on December 6. Volume of 325,763 was high, but not even in the top 5 of the past thirty days.

ZPR closed at 9.89, down 1.30% since Wednesday, and within shouting distance of the 52-week low of 9.80 reached on December 6. Volume of 433,206 placed it fifth-highest of the past thirty days.

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 1.9676 % 2,346.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.9676 % 4,304.7
Floater 4.99 % 5.33 % 45,360 14.96 4 1.9676 % 2,480.8
OpRet 0.00 % 0.00 % 0 0.00 0 0.0827 % 3,128.9
SplitShare 4.71 % 5.37 % 98,228 4.58 7 0.0827 % 3,736.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0827 % 2,915.5
Perpetual-Premium 5.64 % 6.10 % 150,611 13.67 2 -0.6180 % 2,834.3
Perpetual-Discount 5.84 % 6.03 % 73,664 13.75 33 -0.7335 % 2,826.5
FixedReset Disc 5.32 % 5.87 % 230,980 14.07 66 -0.9659 % 2,111.6
Deemed-Retractible 5.61 % 8.02 % 99,820 5.11 27 -0.4522 % 2,822.7
FloatingReset 4.26 % 5.36 % 42,309 2.95 7 -1.3431 % 2,366.2
FixedReset Prem 5.17 % 4.50 % 288,729 2.27 14 -0.2952 % 2,506.0
FixedReset Bank Non 3.00 % 4.18 % 146,500 2.91 6 -0.4907 % 2,544.9
FixedReset Ins Non 5.21 % 9.12 % 156,358 5.17 22 -1.7543 % 2,149.2
Performance Highlights
Issue Index Change Notes
TRP.PR.G FixedReset Disc -5.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 6.68 %
TRP.PR.F FloatingReset -5.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 14.78
Evaluated at bid price : 14.78
Bid-YTW : 6.04 %
IAG.PR.G FixedReset Ins Non -3.89 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.99
Bid-YTW : 8.50 %
BNS.PR.I FixedReset Disc -3.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.49
Evaluated at bid price : 21.49
Bid-YTW : 5.45 %
BMO.PR.D FixedReset Disc -3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.38
Evaluated at bid price : 21.70
Bid-YTW : 5.85 %
NA.PR.E FixedReset Disc -3.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.86
Evaluated at bid price : 18.86
Bid-YTW : 6.21 %
TRP.PR.B FixedReset Disc -3.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 12.13
Evaluated at bid price : 12.13
Bid-YTW : 6.66 %
IFC.PR.C FixedReset Ins Non -3.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.18
Bid-YTW : 11.25 %
TRP.PR.A FixedReset Disc -3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 14.63
Evaluated at bid price : 14.63
Bid-YTW : 6.74 %
PWF.PR.T FixedReset Disc -3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.84
Evaluated at bid price : 18.84
Bid-YTW : 5.95 %
HSE.PR.G FixedReset Disc -3.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.64 %
SLF.PR.H FixedReset Ins Non -3.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.70
Bid-YTW : 10.06 %
BAM.PF.F FixedReset Disc -3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.48 %
BAM.PF.G FixedReset Disc -3.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 6.41 %
HSE.PR.E FixedReset Disc -2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.69 %
CM.PR.S FixedReset Disc -2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 5.85 %
SLF.PR.G FixedReset Ins Non -2.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.50
Bid-YTW : 13.43 %
IFC.PR.A FixedReset Ins Non -2.69 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.25
Bid-YTW : 11.70 %
PWF.PR.R Perpetual-Discount -2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 22.13
Evaluated at bid price : 22.42
Bid-YTW : 6.23 %
MFC.PR.G FixedReset Ins Non -2.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.25
Bid-YTW : 9.48 %
BAM.PR.X FixedReset Disc -2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 14.94
Evaluated at bid price : 14.94
Bid-YTW : 6.06 %
IAG.PR.I FixedReset Ins Non -2.63 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.45
Bid-YTW : 7.77 %
PWF.PR.P FixedReset Disc -2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 14.69
Evaluated at bid price : 14.69
Bid-YTW : 5.99 %
RY.PR.S FixedReset Disc -2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.42 %
MFC.PR.M FixedReset Ins Non -2.31 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.20
Bid-YTW : 10.51 %
BNS.PR.D FloatingReset -2.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 4.88 %
BNS.PR.Z FixedReset Bank Non -2.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.83
Bid-YTW : 5.66 %
TD.PF.I FixedReset Disc -2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 5.73 %
CM.PR.P FixedReset Disc -2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.06
Evaluated at bid price : 18.06
Bid-YTW : 5.96 %
IFC.PR.G FixedReset Ins Non -2.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.87
Bid-YTW : 9.33 %
PWF.PR.H Perpetual-Discount -2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 23.65
Evaluated at bid price : 23.92
Bid-YTW : 6.10 %
PWF.PR.L Perpetual-Discount -2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.28
Evaluated at bid price : 21.28
Bid-YTW : 6.10 %
TRP.PR.C FixedReset Disc -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 12.86
Evaluated at bid price : 12.86
Bid-YTW : 6.71 %
MFC.PR.J FixedReset Ins Non -2.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.90
Bid-YTW : 9.12 %
TD.PF.D FixedReset Disc -2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 20.36
Evaluated at bid price : 20.36
Bid-YTW : 5.87 %
MFC.PR.H FixedReset Ins Non -2.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.01
Bid-YTW : 8.63 %
MFC.PR.R FixedReset Ins Non -2.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.01
Bid-YTW : 6.14 %
MFC.PR.K FixedReset Ins Non -1.99 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.21
Bid-YTW : 9.37 %
HSE.PR.C FixedReset Disc -1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 16.67
Evaluated at bid price : 16.67
Bid-YTW : 7.73 %
TD.PF.K FixedReset Disc -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 5.68 %
GWO.PR.S Deemed-Retractible -1.89 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.37
Bid-YTW : 7.44 %
TD.PF.J FixedReset Disc -1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.77 %
NA.PR.G FixedReset Disc -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 20.87
Evaluated at bid price : 20.87
Bid-YTW : 5.89 %
TRP.PR.E FixedReset Disc -1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 6.49 %
IFC.PR.F Deemed-Retractible -1.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.78
Bid-YTW : 8.02 %
IFC.PR.E Deemed-Retractible -1.62 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.84
Bid-YTW : 7.86 %
TRP.PR.H FloatingReset -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 5.95 %
POW.PR.G Perpetual-Discount -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 23.17
Evaluated at bid price : 23.68
Bid-YTW : 6.01 %
BAM.PR.M Perpetual-Discount -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.39 %
BIP.PR.A FixedReset Disc -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.18 %
GWO.PR.P Deemed-Retractible -1.48 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.66
Bid-YTW : 7.34 %
BNS.PR.F FloatingReset -1.47 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.43
Bid-YTW : 5.36 %
RY.PR.J FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.89 %
RY.PR.M FixedReset Disc -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 19.91
Evaluated at bid price : 19.91
Bid-YTW : 5.76 %
CM.PR.O FixedReset Disc -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 6.03 %
BAM.PF.B FixedReset Disc -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 6.23 %
PWF.PR.G Perpetual-Discount -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 24.05
Evaluated at bid price : 24.30
Bid-YTW : 6.16 %
CU.PR.D Perpetual-Discount -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.47
Evaluated at bid price : 21.47
Bid-YTW : 5.77 %
MFC.PR.Q FixedReset Ins Non -1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.00
Bid-YTW : 9.06 %
BAM.PR.R FixedReset Disc -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 6.33 %
BMO.PR.E FixedReset Disc -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.46
Evaluated at bid price : 21.75
Bid-YTW : 5.59 %
PWF.PR.E Perpetual-Discount -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 22.55
Evaluated at bid price : 22.80
Bid-YTW : 6.12 %
TRP.PR.J FixedReset Prem -1.13 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.41
Bid-YTW : 4.94 %
MFC.PR.L FixedReset Ins Non -1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.55
Bid-YTW : 11.08 %
SLF.PR.J FloatingReset -1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.45
Bid-YTW : 13.37 %
CU.PR.C FixedReset Disc -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 17.41
Evaluated at bid price : 17.41
Bid-YTW : 6.13 %
EMA.PR.F FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.37 %
GWO.PR.G Deemed-Retractible -1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.47
Bid-YTW : 8.20 %
POW.PR.D Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 6.10 %
PWF.PR.O Perpetual-Discount -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 23.91
Evaluated at bid price : 24.15
Bid-YTW : 6.10 %
EML.PR.A FixedReset Ins Non -1.02 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 25.15
Bid-YTW : 5.31 %
TD.PF.A FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 5.79 %
CM.PR.R FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 22.22
Evaluated at bid price : 22.75
Bid-YTW : 5.76 %
CCS.PR.C Deemed-Retractible 1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.70
Bid-YTW : 7.77 %
TRP.PR.D FixedReset Disc 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 16.82
Evaluated at bid price : 16.82
Bid-YTW : 6.68 %
EIT.PR.A SplitShare 1.29 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 24.41
Bid-YTW : 5.37 %
PWF.PR.K Perpetual-Discount 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.17 %
PWF.PR.Q FloatingReset 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 5.48 %
BIP.PR.F FixedReset Disc 2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 21.65
Evaluated at bid price : 22.02
Bid-YTW : 5.80 %
NA.PR.S FixedReset Disc 2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.16
Evaluated at bid price : 18.16
Bid-YTW : 6.19 %
BAM.PR.T FixedReset Disc 3.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 16.45
Evaluated at bid price : 16.45
Bid-YTW : 6.37 %
BIP.PR.E FixedReset Disc 5.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 22.20
Evaluated at bid price : 22.80
Bid-YTW : 5.51 %
BAM.PR.K Floater 7.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 12.90
Evaluated at bid price : 12.90
Bid-YTW : 5.37 %
Volume Highlights
Issue Index Shares
Traded
Notes
BMO.PR.C FixedReset Disc 129,899 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 22.43
Evaluated at bid price : 23.06
Bid-YTW : 5.66 %
BNS.PR.H FixedReset Prem 105,095 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-01-26
Maturity Price : 25.00
Evaluated at bid price : 25.51
Bid-YTW : 4.41 %
BMO.PR.S FixedReset Disc 89,772 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.76
Evaluated at bid price : 18.76
Bid-YTW : 5.88 %
CM.PR.R FixedReset Disc 86,991 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 22.22
Evaluated at bid price : 22.75
Bid-YTW : 5.76 %
NA.PR.A FixedReset Prem 65,363 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.40
Bid-YTW : 5.00 %
BMO.PR.T FixedReset Disc 65,159 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 5.85 %
There were 110 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: 23.81 – 24.83
Spot Rate : 1.0200
Average : 0.8226

YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 23.81
Bid-YTW : 5.77 %

GWO.PR.S Deemed-Retractible Quote: 22.37 – 22.93
Spot Rate : 0.5600
Average : 0.3926

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.37
Bid-YTW : 7.44 %

GWO.PR.G Deemed-Retractible Quote: 21.47 – 21.90
Spot Rate : 0.4300
Average : 0.2868

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.47
Bid-YTW : 8.20 %

BAM.PR.R FixedReset Disc Quote: 16.40 – 16.88
Spot Rate : 0.4800
Average : 0.3599

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 6.33 %

BAM.PF.H FixedReset Prem Quote: 25.50 – 25.85
Spot Rate : 0.3500
Average : 0.2326

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : 3.91 %

POW.PR.G Perpetual-Discount Quote: 23.68 – 24.00
Spot Rate : 0.3200
Average : 0.2066

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-20
Maturity Price : 23.17
Evaluated at bid price : 23.68
Bid-YTW : 6.01 %

December 19, 2018

Wednesday, December 19th, 2018
explosion_181219
Click for Big

The FOMC Statement was released on schedule:

Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has remained low. Household spending has continued to grow strongly, while growth of business fixed investment has moderated from its rapid pace earlier in the year. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Indicators of longer-term inflation expectations are little changed, on balance.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee judges that some further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term. The Committee judges that risks to the economic outlook are roughly balanced, but will continue to monitor global economic and financial developments and assess their implications for the economic outlook.

In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 2-1/4 to 2‑1/2 percent.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.

Voting for the FOMC monetary policy action were: Jerome H. Powell, Chairman; John C. Williams, Vice Chairman; Thomas I. Barkin; Raphael W. Bostic; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Mary C. Daly; Loretta J. Mester; and Randal K. Quarles.

No dissenters! The market was quick to note:

In previous statements, the Fed had said it planned “further gradual increases” in its benchmark rate, conveying to investors that additional hikes were expected. Wednesday’s statement slightly calibrated those expectations by adding the word “some” to the beginning of that phrase, suggesting that the pace of rate increases is likely to slow.

A majority of Fed officials on Wednesday predicted the central bank would raise rates no more than twice next year. In September, most Fed officials had predicted at least three rate increases.

The S&P 500-stock index, which had been up more than 1 percent early in the day whipsawed wildly after the 2 p.m. announcement from the central bank, paring gains and at times slipping into negative territory. But the sell-off worsened during the news conference that accompanied the announcement, with stocks falling below 2 percent at moments.

A separate economic outlook from the Fed showed 2019 growth tapering slightly from September’s projections, with the central bank now expecting gross domestic product of 2.3 percent for the year, down from its previous projections of 2.5 percent.

Treasury yields declined on the day, while the five-year Canada rate, important in FixedReset pricing, was down 4bp to 1.89%.

I’m pleased to see guaranteed minimum income getting some political support:

Prime Minister Justin Trudeau and Social Development Minister Jean-Yves Duclos have argued that the Liberal-created Canada Child Benefit, among other measures, amounts to a guaranteed minimum income already.

But in an interview this week with The Canadian Press, Duclos said the current suite of federal programs could one day be enhanced to provide a minimum income of sorts to all Canadians, particularly those without children who aren’t eligible for federal benefits for families, seniors or the working poor.

“Whether this is going to be enhanced eventually to a broader guaranteed minimum income for all Canadians, including those without children that are not currently covered by a guaranteed minimum income at the federal level, I believe the answer is yes,” Duclos said. “At some point, there will be a universal guaranteed minimum income in Canada for all Canadians.”

As for implementation, just make it a refundable (and taxable!) tax credit. Start it off small and increase it.

PerpetualDiscounts now yield 5.98%, equivalent to 7.77% interest at the standard conversion factor of 1.3x. Long corporates now yield a little over 4.05%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 370bp, a significant increase 360bp reported December 12. I find this spread level to be incredible, particularly since it doesn’t make much sense for a declining yield environment. We seem to have entered a Twilight Zone in which PerpetualDiscounts are priced off FixedResets, rather than independently.

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 0.5547 % 2,300.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.5547 % 4,221.7
Floater 5.08 % 5.38 % 44,149 14.89 4 0.5547 % 2,433.0
OpRet 0.00 % 0.00 % 0 0.00 0 -0.2651 % 3,126.4
SplitShare 4.71 % 5.65 % 95,718 4.58 7 -0.2651 % 3,733.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2651 % 2,913.1
Perpetual-Premium 5.61 % 6.05 % 144,809 13.75 2 -0.1791 % 2,852.0
Perpetual-Discount 5.80 % 5.98 % 72,187 13.85 33 0.0853 % 2,847.4
FixedReset Disc 5.27 % 5.83 % 227,459 14.12 66 -1.2715 % 2,132.2
Deemed-Retractible 5.58 % 7.98 % 96,052 5.11 27 -0.1684 % 2,835.6
FloatingReset 4.20 % 4.84 % 41,695 2.96 7 -0.4508 % 2,398.5
FixedReset Prem 5.15 % 4.37 % 288,569 2.28 14 0.0557 % 2,513.5
FixedReset Bank Non 2.99 % 4.39 % 145,688 2.91 6 -0.0345 % 2,557.4
FixedReset Ins Non 5.12 % 8.81 % 151,222 5.18 22 -0.6799 % 2,187.5
Performance Highlights
Issue Index Change Notes
TRP.PR.D FixedReset Disc -7.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 6.76 %
PWF.PR.K Perpetual-Discount -4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.30 %
TD.PF.E FixedReset Disc -4.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.77 %
NA.PR.S FixedReset Disc -4.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.37 %
MFC.PR.L FixedReset Ins Non -4.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.75
Bid-YTW : 10.84 %
TD.PF.D FixedReset Disc -3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 20.79
Evaluated at bid price : 20.79
Bid-YTW : 5.75 %
BMO.PR.C FixedReset Disc -3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 22.42
Evaluated at bid price : 23.05
Bid-YTW : 5.66 %
TD.PF.J FixedReset Disc -3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.65 %
RY.PR.J FixedReset Disc -3.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 5.80 %
TRP.PR.C FixedReset Disc -3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 13.14
Evaluated at bid price : 13.14
Bid-YTW : 6.57 %
MFC.PR.J FixedReset Ins Non -3.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.33
Bid-YTW : 8.69 %
CM.PR.Q FixedReset Disc -3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 5.98 %
HSE.PR.E FixedReset Disc -3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 7.46 %
PWF.PR.Q FloatingReset -3.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 5.59 %
BMO.PR.Y FixedReset Disc -2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.94 %
CM.PR.R FixedReset Disc -2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 22.06
Evaluated at bid price : 22.50
Bid-YTW : 5.83 %
RY.PR.M FixedReset Disc -2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 5.68 %
TD.PF.K FixedReset Disc -2.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.46
Evaluated at bid price : 21.46
Bid-YTW : 5.57 %
TD.PF.I FixedReset Disc -2.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.87
Evaluated at bid price : 22.25
Bid-YTW : 5.60 %
BMO.PR.W FixedReset Disc -2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.79 %
BMO.PR.E FixedReset Disc -2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.65
Evaluated at bid price : 22.01
Bid-YTW : 5.51 %
CCS.PR.C Deemed-Retractible -2.50 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.46
Bid-YTW : 7.98 %
BAM.PR.Z FixedReset Disc -2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.26 %
TRP.PR.G FixedReset Disc -2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.53
Evaluated at bid price : 19.53
Bid-YTW : 6.28 %
RY.PR.H FixedReset Disc -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.94
Evaluated at bid price : 18.94
Bid-YTW : 5.72 %
TD.PF.B FixedReset Disc -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 5.88 %
BAM.PR.T FixedReset Disc -2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 15.84
Evaluated at bid price : 15.84
Bid-YTW : 6.61 %
VNR.PR.A FixedReset Disc -2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 5.82 %
MFC.PR.N FixedReset Ins Non -2.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.85
Bid-YTW : 10.78 %
IFC.PR.C FixedReset Ins Non -1.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.76
Bid-YTW : 10.59 %
CU.PR.E Perpetual-Discount -1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.90 %
TD.PF.A FixedReset Disc -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.51
Evaluated at bid price : 18.51
Bid-YTW : 5.85 %
TD.PF.C FixedReset Disc -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 5.83 %
MFC.PR.K FixedReset Ins Non -1.71 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.60
Bid-YTW : 8.96 %
BAM.PR.K Floater -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 12.05
Evaluated at bid price : 12.05
Bid-YTW : 5.75 %
GWO.PR.T Deemed-Retractible -1.60 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.50
Bid-YTW : 8.11 %
HSE.PR.G FixedReset Disc -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 7.39 %
BMO.PR.S FixedReset Disc -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 5.89 %
RY.PR.Z FixedReset Disc -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.58 %
EMA.PR.H FixedReset Disc -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 22.42
Evaluated at bid price : 23.23
Bid-YTW : 5.29 %
BAM.PF.F FixedReset Disc -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.28 %
TRP.PR.E FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.37 %
TRP.PR.H FloatingReset -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 5.85 %
IAG.PR.A Deemed-Retractible -1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.60
Bid-YTW : 8.35 %
PWF.PR.T FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.47
Evaluated at bid price : 19.47
Bid-YTW : 5.75 %
GWO.PR.S Deemed-Retractible -1.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.80
Bid-YTW : 7.06 %
MFC.PR.Q FixedReset Ins Non -1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.25
Bid-YTW : 8.81 %
BNS.PR.I FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.84
Evaluated at bid price : 22.30
Bid-YTW : 5.22 %
RY.PR.O Perpetual-Discount -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 23.07
Evaluated at bid price : 23.43
Bid-YTW : 5.26 %
NA.PR.W FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 6.19 %
TRP.PR.K FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.70
Bid-YTW : 5.40 %
MFC.PR.I FixedReset Ins Non -1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.15
Bid-YTW : 8.76 %
EIT.PR.A SplitShare -1.03 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 24.10
Bid-YTW : 5.65 %
GWO.PR.N FixedReset Ins Non -1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.50
Bid-YTW : 13.12 %
PWF.PR.H Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 24.19
Evaluated at bid price : 24.45
Bid-YTW : 5.97 %
NA.PR.E FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 5.99 %
IAG.PR.I FixedReset Ins Non 1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.03
Bid-YTW : 7.25 %
PWF.PR.L Perpetual-Discount 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.49
Evaluated at bid price : 21.75
Bid-YTW : 5.95 %
BAM.PR.R FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.26 %
W.PR.J Perpetual-Discount 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 23.62
Evaluated at bid price : 23.89
Bid-YTW : 5.96 %
PWF.PR.O Perpetual-Discount 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 24.15
Evaluated at bid price : 24.40
Bid-YTW : 6.03 %
HSE.PR.A FixedReset Disc 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 7.17 %
BAM.PR.C Floater 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 12.88
Evaluated at bid price : 12.88
Bid-YTW : 5.38 %
BAM.PR.B Floater 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 12.80
Evaluated at bid price : 12.80
Bid-YTW : 5.41 %
BAM.PF.B FixedReset Disc 1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 6.14 %
CU.PR.F Perpetual-Discount 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.74 %
GWO.PR.Q Deemed-Retractible 2.48 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.52
Bid-YTW : 8.09 %
BAM.PR.X FixedReset Disc 2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 5.90 %
PWF.PR.P FixedReset Disc 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 15.08
Evaluated at bid price : 15.08
Bid-YTW : 5.83 %
SLF.PR.G FixedReset Ins Non 2.90 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.92
Bid-YTW : 12.86 %
W.PR.H Perpetual-Discount 3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.88 %
Volume Highlights
Issue Index Shares
Traded
Notes
TD.PF.J FixedReset Disc 137,450 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.65 %
NA.PR.E FixedReset Disc 84,244 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 5.99 %
W.PR.M FixedReset Prem 73,337 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-15
Maturity Price : 25.00
Evaluated at bid price : 25.12
Bid-YTW : 5.41 %
TRP.PR.D FixedReset Disc 58,653 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 6.76 %
TD.PF.D FixedReset Disc 56,127 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 20.79
Evaluated at bid price : 20.79
Bid-YTW : 5.75 %
BMO.PR.E FixedReset Disc 55,430 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.65
Evaluated at bid price : 22.01
Bid-YTW : 5.51 %
There were 77 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: 21.45 – 23.65
Spot Rate : 2.2000
Average : 1.2028

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.45
Bid-YTW : 8.21 %

BAM.PF.E FixedReset Disc Quote: 18.00 – 19.80
Spot Rate : 1.8000
Average : 1.1156

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.39 %

VNR.PR.A FixedReset Disc Quote: 21.01 – 23.63
Spot Rate : 2.6200
Average : 1.9554

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 5.82 %

BAM.PF.F FixedReset Disc Quote: 19.55 – 22.00
Spot Rate : 2.4500
Average : 1.8862

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.28 %

NA.PR.S FixedReset Disc Quote: 17.65 – 19.00
Spot Rate : 1.3500
Average : 0.8002

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.37 %

TRP.PR.F FloatingReset Quote: 15.56 – 17.00
Spot Rate : 1.4400
Average : 0.8967

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2048-12-19
Maturity Price : 15.56
Evaluated at bid price : 15.56
Bid-YTW : 5.73 %