I last mentioned this on 2016-11-30, so here’s an update on increased efficiency at McDonalds:
As minimum wage levels approach or surpass $15 nationwide, restaurant customers expecting to be greeted by a smiling face will instead be welcomed by a glowing LED screen.
As of 2020, self-service ordering kiosks will be implemented at all U.S. McDonald’s locations. Other chains, including fast-casual brands like Panera and casual-dining brands like Chili’s, have already embraced this trend. Some restaurant concepts have even automated the food-preparation process; earlier this year, NBC News profiled “Flippy,” a robot hamburger flipper. Other upcoming concepts include virtual restaurants which eliminate the need for full-service restaurants (and staff) by only offering home delivery.
| 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 | -0.4000 % | 3,098.0 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4000 % | 5,684.7 |
| Floater | 3.49 % | 3.71 % | 62,305 | 18.04 | 4 | -0.4000 % | 3,276.1 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0000 % | 3,200.9 |
| SplitShare | 4.59 % | 4.45 % | 58,166 | 4.89 | 5 | 0.0000 % | 3,822.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0000 % | 2,982.5 |
| Perpetual-Premium | 5.63 % | -14.65 % | 62,543 | 0.09 | 9 | 0.0000 % | 2,911.7 |
| Perpetual-Discount | 5.38 % | 5.50 % | 57,139 | 14.65 | 26 | 0.0361 % | 2,984.8 |
| FixedReset | 4.29 % | 4.62 % | 131,676 | 4.16 | 106 | 0.0482 % | 2,564.7 |
| Deemed-Retractible | 5.14 % | 6.01 % | 61,912 | 5.45 | 27 | 0.1030 % | 2,971.2 |
| FloatingReset | 3.27 % | 3.72 % | 34,039 | 3.35 | 9 | 0.0891 % | 2,832.0 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.K | Floater | -1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-24 Maturity Price : 17.46 Evaluated at bid price : 17.46 Bid-YTW : 3.73 % |
| BAM.PR.B | Floater | -1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-24 Maturity Price : 17.54 Evaluated at bid price : 17.54 Bid-YTW : 3.72 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BNS.PR.G | FixedReset | 99,912 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-07-25 Maturity Price : 25.00 Evaluated at bid price : 26.34 Bid-YTW : 3.61 % |
| TRP.PR.K | FixedReset | 99,157 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-05-31 Maturity Price : 25.00 Evaluated at bid price : 25.66 Bid-YTW : 4.38 % |
| BNS.PR.H | FixedReset | 73,758 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-01-26 Maturity Price : 25.00 Evaluated at bid price : 26.15 Bid-YTW : 3.45 % |
| CM.PR.R | FixedReset | 54,672 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-07-31 Maturity Price : 25.00 Evaluated at bid price : 25.22 Bid-YTW : 4.16 % |
| PWF.PR.Q | FloatingReset | 53,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-24 Maturity Price : 21.50 Evaluated at bid price : 21.87 Bid-YTW : 3.44 % |
| PWF.PR.T | FixedReset | 52,813 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-24 Maturity Price : 23.47 Evaluated at bid price : 24.21 Bid-YTW : 4.59 % |
| There were 17 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.Q | FixedReset | Quote: 24.80 – 25.10 Spot Rate : 0.3000 Average : 0.2255 YTW SCENARIO |
| IFC.PR.A | FixedReset | Quote: 19.70 – 20.00 Spot Rate : 0.3000 Average : 0.2433 YTW SCENARIO |
| CU.PR.I | FixedReset | Quote: 25.85 – 26.10 Spot Rate : 0.2500 Average : 0.2034 YTW SCENARIO |
| TRP.PR.J | FixedReset | Quote: 26.09 – 26.29 Spot Rate : 0.2000 Average : 0.1537 YTW SCENARIO |
| GWO.PR.Q | Deemed-Retractible | Quote: 23.79 – 23.95 Spot Rate : 0.1600 Average : 0.1206 YTW SCENARIO |
| TRP.PR.A | FixedReset | Quote: 20.21 – 20.50 Spot Rate : 0.2900 Average : 0.2527 YTW SCENARIO |