And now it’s time for PrefLetter …
| 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 | 0.0000 % | 3,094.1 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0000 % | 5,677.5 |
| Floater | 3.21 % | 3.41 % | 116,532 | 18.64 | 4 | 0.0000 % | 3,271.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0548 % | 3,165.1 |
| SplitShare | 4.69 % | 3.98 % | 61,858 | 3.30 | 5 | -0.0548 % | 3,779.8 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0548 % | 2,949.2 |
| Perpetual-Premium | 5.62 % | 4.24 % | 80,899 | 0.63 | 11 | 0.1546 % | 2,831.4 |
| Perpetual-Discount | 5.33 % | 5.44 % | 91,070 | 14.69 | 23 | 0.1283 % | 2,938.0 |
| FixedReset | 4.26 % | 4.61 % | 172,438 | 5.88 | 103 | 0.2703 % | 2,519.5 |
| Deemed-Retractible | 5.17 % | 5.72 % | 93,680 | 5.76 | 28 | 0.1589 % | 2,918.8 |
| FloatingReset | 3.00 % | 3.06 % | 37,988 | 3.68 | 10 | 0.0530 % | 2,764.3 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| TRP.PR.E | FixedReset | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-09 Maturity Price : 23.15 Evaluated at bid price : 23.55 Bid-YTW : 4.69 % |
| MFC.PR.I | FixedReset | 1.27 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-09-19 Maturity Price : 25.00 Evaluated at bid price : 24.73 Bid-YTW : 4.61 % |
| TRP.PR.G | FixedReset | 1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-09 Maturity Price : 23.12 Evaluated at bid price : 24.23 Bid-YTW : 4.94 % |
| BAM.PR.T | FixedReset | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-09 Maturity Price : 21.37 Evaluated at bid price : 21.68 Bid-YTW : 4.86 % |
| GWO.PR.N | FixedReset | 1.70 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.17 Bid-YTW : 7.18 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.G | FixedReset | 326,537 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-04-30 Maturity Price : 25.00 Evaluated at bid price : 26.45 Bid-YTW : 3.74 % |
| BNS.PR.H | FixedReset | 217,600 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-01-26 Maturity Price : 25.00 Evaluated at bid price : 25.99 Bid-YTW : 3.92 % |
| RY.PR.R | FixedReset | 150,905 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-08-24 Maturity Price : 25.00 Evaluated at bid price : 26.66 Bid-YTW : 3.54 % |
| BMO.PR.B | FixedReset | 107,800 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-02-25 Maturity Price : 25.00 Evaluated at bid price : 26.04 Bid-YTW : 3.78 % |
| BNS.PR.G | FixedReset | 106,300 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-07-25 Maturity Price : 25.00 Evaluated at bid price : 26.67 Bid-YTW : 3.61 % |
| BAM.PF.H | FixedReset | 76,593 | YTW SCENARIO Maturity Type : Call Maturity Date : 2020-12-31 Maturity Price : 25.00 Evaluated at bid price : 26.00 Bid-YTW : 3.86 % |
| There were 42 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| GWO.PR.N | FixedReset | Quote: 19.17 – 19.59 Spot Rate : 0.4200 Average : 0.2663 YTW SCENARIO |
| RY.PR.M | FixedReset | Quote: 24.08 – 24.38 Spot Rate : 0.3000 Average : 0.1912 YTW SCENARIO |
| TD.PF.B | FixedReset | Quote: 23.30 – 23.60 Spot Rate : 0.3000 Average : 0.2007 YTW SCENARIO |
| HSE.PR.C | FixedReset | Quote: 24.85 – 25.23 Spot Rate : 0.3800 Average : 0.2943 YTW SCENARIO |
| GWO.PR.M | Deemed-Retractible | Quote: 25.50 – 25.78 Spot Rate : 0.2800 Average : 0.1963 YTW SCENARIO |
| PWF.PR.K | Perpetual-Discount | Quote: 22.61 – 22.85 Spot Rate : 0.2400 Average : 0.1658 YTW SCENARIO |