Nothing happened today, either.
It was another mixed day for the Canadian preferred share market, with PerpetualDiscounts flat, FixedResets gaining 1bp and DeemedRetractibles off 8bp. Volatility was minimal. Volume was on the low side of average.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| 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 | -0.1254 % | 2,618.4 |
| FixedFloater | 4.17 % | 3.41 % | 26,205 | 18.56 | 1 | -0.0439 % | 4,156.5 |
| Floater | 2.93 % | 3.07 % | 45,466 | 19.51 | 4 | -0.1254 % | 2,707.7 |
| OpRet | 4.05 % | -1.44 % | 92,688 | 0.08 | 1 | 0.0000 % | 2,723.9 |
| SplitShare | 4.24 % | 3.86 % | 73,412 | 3.99 | 6 | 0.1860 % | 3,143.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0000 % | 2,490.7 |
| Perpetual-Premium | 5.49 % | -1.10 % | 83,428 | 0.08 | 19 | -0.0579 % | 2,435.8 |
| Perpetual-Discount | 5.23 % | 5.17 % | 112,121 | 15.18 | 17 | 0.0025 % | 2,595.8 |
| FixedReset | 4.29 % | 3.63 % | 189,155 | 8.60 | 76 | 0.0069 % | 2,566.6 |
| Deemed-Retractible | 4.99 % | 2.94 % | 105,452 | 0.36 | 42 | -0.0815 % | 2,555.5 |
| FloatingReset | 2.64 % | 2.03 % | 88,185 | 3.75 | 6 | -0.0131 % | 2,525.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PF.D | Perpetual-Discount | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-20 Maturity Price : 21.52 Evaluated at bid price : 21.82 Bid-YTW : 5.69 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.M | FixedReset | 288,000 | Recent new issue. YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.02 Bid-YTW : 3.90 % |
| TD.PF.B | FixedReset | 117,066 | Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-20 Maturity Price : 23.18 Evaluated at bid price : 25.05 Bid-YTW : 3.66 % |
| PWF.PR.P | FixedReset | 88,760 | Desjardins crossed blocks of 59,500 and 17,100, both at 23.49. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-20 Maturity Price : 23.04 Evaluated at bid price : 23.48 Bid-YTW : 3.38 % |
| ENB.PF.E | FixedReset | 66,673 | RBC crossed 50,000 at 25.06. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-20 Maturity Price : 23.13 Evaluated at bid price : 25.05 Bid-YTW : 4.14 % |
| RY.PR.I | FixedReset | 55,870 | RBC crossed 50,000 at 25.51. YTW SCENARIO Maturity Type : Call Maturity Date : 2019-02-24 Maturity Price : 25.00 Evaluated at bid price : 25.33 Bid-YTW : 3.21 % |
| FTS.PR.J | Perpetual-Discount | 52,698 | Desjardins crossed 50,000 at 24.20. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-20 Maturity Price : 23.74 Evaluated at bid price : 24.12 Bid-YTW : 4.92 % |
| There were 29 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| RY.PR.D | Deemed-Retractible | Quote: 25.35 – 25.64 Spot Rate : 0.2900 Average : 0.1933 YTW SCENARIO |
| FTS.PR.K | FixedReset | Quote: 25.05 – 25.25 Spot Rate : 0.2000 Average : 0.1285 YTW SCENARIO |
| TRP.PR.C | FixedReset | Quote: 22.35 – 22.70 Spot Rate : 0.3500 Average : 0.2890 YTW SCENARIO |
| CU.PR.D | Perpetual-Discount | Quote: 24.43 – 24.64 Spot Rate : 0.2100 Average : 0.1509 YTW SCENARIO |
| IAG.PR.E | Deemed-Retractible | Quote: 26.16 – 26.35 Spot Rate : 0.1900 Average : 0.1326 YTW SCENARIO |
| PWF.PR.P | FixedReset | Quote: 23.48 – 23.69 Spot Rate : 0.2100 Average : 0.1529 YTW SCENARIO |