PrefBlog

There is more hope that the coronavirus is under control, or at least getting there:

The Toronto Stock Exchange’s S&P/TSX composite index was up 311.57 points, or 2.29%, at 13,925.71.

The energy sector climbed 4.2% as oil prices strengthened, buoyed by hopes that OPEC and its allies will strike a production cut agreement, shrugging off bearish signals from surging U.S. crude inventories.

Brent crude was up $1, or 3%, at $32.87. U.S. West Texas Intermediate (WTI) crude rose $1.55 cents to $25.18 a barrel.
…
Thursday’s video conference meeting between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia – a group known as OPEC+ – was expected to be more successful than their gathering in March, which ended in a failure to extend supply cuts and a price war between Saudi Arabia and Russia.

TXPR closed at 488.19, up 1.13% on the day. Volume today was 4.06-million, the highest since March 26.

CPD closed at 9.73, up 0.21% on the day. Volume was 176,238, about average in the context of the past 30 trading days but the highest since March 26.

ZPR closed at 7.52, down 0.13% on the day. Volume of 442,451 was below average in the context of the past 30 trading days.

Five-year Canada yields were down 3bp to 0.65% today.

PerpetualDiscounts now yield 6.45%, equivalent to 8.38% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.84%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has spectacularly narrowed, to 455bp from the 515bp reported April 1. But we’re a little wider than the old record set on November 26, 2008 when trouble with the BCE buyout caused a short-lived spike in PerpetualDiscount bid yields, moving the Seniority Spread to 445bp.

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	2.2427 %	1,390.0
FixedFloater	0.00 %	0.00 %	0	0.00	0	2.2427 %	2,550.6
Floater	5.53 %	5.73 %	43,594	14.34	4	2.2427 %	1,469.9
OpRet	0.00 %	0.00 %	0	0.00	0	1.7545 %	3,216.0
SplitShare	5.16 %	6.99 %	87,687	3.95	7	1.7545 %	3,840.6
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	1.7545 %	2,996.6
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	1.4318 %	2,705.0
Perpetual-Discount	6.19 %	6.45 %	93,048	13.31	35	1.4318 %	2,901.4
FixedReset Disc	6.86 %	5.98 %	203,266	13.62	83	1.2524 %	1,651.9
Deemed-Retractible	5.91 %	6.33 %	103,947	13.33	27	0.8789 %	2,861.9
FloatingReset	3.14 %	4.57 %	32,261	14.25	4	0.7556 %	1,682.6
FixedReset Prem	0.00 %	0.00 %	0	0.00	0	1.2524 %	2,284.6
FixedReset Bank Non	1.98 %	4.88 %	118,928	1.77	3	-0.4996 %	2,686.8
FixedReset Ins Non	7.37 %	6.45 %	117,884	12.90	22	1.2435 %	1,600.1

Performance Highlights
Issue	Index	Change	Notes
TRP.PR.B	FixedReset Disc	-7.74 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 7.75 Evaluated at bid price : 7.75 Bid-YTW : 6.25 %
SLF.PR.H	FixedReset Ins Non	-6.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 10.50 Evaluated at bid price : 10.50 Bid-YTW : 6.76 %
HSE.PR.E	FixedReset Disc	-5.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 9.82 Evaluated at bid price : 9.82 Bid-YTW : 11.33 %
HSE.PR.G	FixedReset Disc	-3.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 9.18 Evaluated at bid price : 9.18 Bid-YTW : 11.52 %
SLF.PR.I	FixedReset Ins Non	-2.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.10 Evaluated at bid price : 13.10 Bid-YTW : 6.58 %
BIP.PR.A	FixedReset Disc	-2.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.10 Evaluated at bid price : 13.10 Bid-YTW : 8.11 %
HSE.PR.C	FixedReset Disc	-2.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 9.35 Evaluated at bid price : 9.35 Bid-YTW : 11.25 %
BMO.PR.Y	FixedReset Disc	-2.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.64 Evaluated at bid price : 13.64 Bid-YTW : 6.26 %
IFC.PR.C	FixedReset Ins Non	-2.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 12.23 Evaluated at bid price : 12.23 Bid-YTW : 6.82 %
TRP.PR.C	FixedReset Disc	-2.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 8.40 Evaluated at bid price : 8.40 Bid-YTW : 6.52 %
TRP.PR.D	FixedReset Disc	-1.95 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 12.55 Evaluated at bid price : 12.55 Bid-YTW : 6.48 %
TD.PF.D	FixedReset Disc	-1.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 6.02 %
BAM.PR.T	FixedReset Disc	-1.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 10.80 Evaluated at bid price : 10.80 Bid-YTW : 7.06 %
MFC.PR.M	FixedReset Ins Non	-1.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 12.50 Evaluated at bid price : 12.50 Bid-YTW : 6.55 %
GWO.PR.N	FixedReset Ins Non	-1.48 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 8.65 Evaluated at bid price : 8.65 Bid-YTW : 5.68 %
BMO.PR.Q	FixedReset Bank Non	-1.46 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.01 Bid-YTW : 6.67 %
BAM.PR.X	FixedReset Disc	-1.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 9.52 Evaluated at bid price : 9.52 Bid-YTW : 6.58 %
TRP.PR.J	FixedReset Disc	1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.75 Evaluated at bid price : 23.25 Bid-YTW : 5.98 %
CIU.PR.A	Perpetual-Discount	1.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 6.08 %
PVS.PR.D	SplitShare	1.05 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2021-10-08 Maturity Price : 25.00 Evaluated at bid price : 24.00 Bid-YTW : 7.69 %
GWO.PR.F	Deemed-Retractible	1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.98 Evaluated at bid price : 23.25 Bid-YTW : 6.39 %
BAM.PF.B	FixedReset Disc	1.10 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.80 Evaluated at bid price : 13.80 Bid-YTW : 6.52 %
SLF.PR.C	Deemed-Retractible	1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 6.20 %
EIT.PR.A	SplitShare	1.13 %	YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2024-03-14 Maturity Price : 25.00 Evaluated at bid price : 23.26 Bid-YTW : 6.99 %
BAM.PF.D	Perpetual-Discount	1.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 6.41 %
TD.PF.A	FixedReset Disc	1.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.58 Evaluated at bid price : 13.58 Bid-YTW : 5.72 %
CU.PR.C	FixedReset Disc	1.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.86 Evaluated at bid price : 13.86 Bid-YTW : 5.65 %
PWF.PR.I	Perpetual-Discount	1.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 23.14 Evaluated at bid price : 23.40 Bid-YTW : 6.42 %
SLF.PR.B	Deemed-Retractible	1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.69 Evaluated at bid price : 19.69 Bid-YTW : 6.15 %
BNS.PR.H	FixedReset Disc	1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 5.76 %
CU.PR.D	Perpetual-Discount	1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 5.99 %
GWO.PR.G	Deemed-Retractible	1.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 6.48 %
RY.PR.P	Perpetual-Discount	1.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 23.15 Evaluated at bid price : 23.60 Bid-YTW : 5.62 %
BAM.PR.K	Floater	1.34 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 7.55 Evaluated at bid price : 7.55 Bid-YTW : 5.73 %
BMO.PR.B	FixedReset Disc	1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 20.32 Evaluated at bid price : 20.32 Bid-YTW : 5.90 %
ELF.PR.H	Perpetual-Discount	1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 6.57 %
RY.PR.J	FixedReset Disc	1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 5.72 %
GWO.PR.M	Deemed-Retractible	1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.22 Evaluated at bid price : 22.50 Bid-YTW : 6.49 %
TD.PF.J	FixedReset Disc	1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.45 Evaluated at bid price : 16.45 Bid-YTW : 5.45 %
PWF.PR.R	Perpetual-Discount	1.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 6.51 %
BMO.PR.W	FixedReset Disc	1.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.49 Evaluated at bid price : 13.49 Bid-YTW : 5.91 %
BMO.PR.D	FixedReset Disc	1.45 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.11 Evaluated at bid price : 16.11 Bid-YTW : 6.15 %
TD.PF.K	FixedReset Disc	1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.14 Evaluated at bid price : 16.14 Bid-YTW : 5.53 %
NA.PR.A	FixedReset Disc	1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.17 %
PVS.PR.E	SplitShare	1.46 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-10-31 Maturity Price : 25.00 Evaluated at bid price : 24.25 Bid-YTW : 7.05 %
TD.PF.G	FixedReset Disc	1.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.06 Evaluated at bid price : 22.70 Bid-YTW : 5.83 %
CM.PR.R	FixedReset Disc	1.55 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.35 Evaluated at bid price : 16.35 Bid-YTW : 6.26 %
POW.PR.C	Perpetual-Discount	1.66 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.81 Evaluated at bid price : 22.05 Bid-YTW : 6.61 %
TRP.PR.E	FixedReset Disc	1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 12.21 Evaluated at bid price : 12.21 Bid-YTW : 6.59 %
POW.PR.A	Perpetual-Discount	1.68 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 6.65 %
BAM.PF.E	FixedReset Disc	1.68 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 12.69 Evaluated at bid price : 12.69 Bid-YTW : 6.59 %
NA.PR.C	FixedReset Disc	1.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.12 Evaluated at bid price : 16.12 Bid-YTW : 6.41 %
TD.PF.H	FixedReset Disc	1.73 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 20.52 Evaluated at bid price : 20.52 Bid-YTW : 5.83 %
CM.PR.Y	FixedReset Disc	1.75 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.57 Evaluated at bid price : 18.57 Bid-YTW : 6.08 %
BAM.PR.Z	FixedReset Disc	1.75 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.50 Evaluated at bid price : 14.50 Bid-YTW : 6.60 %
PWF.PR.F	Perpetual-Discount	1.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 6.57 %
PWF.PR.G	Perpetual-Discount	1.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.39 Evaluated at bid price : 22.65 Bid-YTW : 6.52 %
PWF.PR.Z	Perpetual-Discount	1.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.95 Evaluated at bid price : 19.95 Bid-YTW : 6.48 %
PWF.PR.O	Perpetual-Discount	1.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.86 Evaluated at bid price : 22.10 Bid-YTW : 6.57 %
TD.PF.F	Perpetual-Discount	1.89 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.88 Evaluated at bid price : 22.16 Bid-YTW : 5.53 %
BAM.PR.B	Floater	1.89 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 7.55 Evaluated at bid price : 7.55 Bid-YTW : 5.73 %
BIP.PR.D	FixedReset Disc	1.90 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.75 Evaluated at bid price : 18.75 Bid-YTW : 6.73 %
BAM.PR.C	Floater	1.90 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 7.50 Evaluated at bid price : 7.50 Bid-YTW : 5.76 %
BAM.PF.I	FixedReset Disc	1.93 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 5.72 %
CM.PR.T	FixedReset Disc	2.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 5.92 %
TD.PF.L	FixedReset Disc	2.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.35 Evaluated at bid price : 18.35 Bid-YTW : 5.76 %
BMO.PR.Z	Perpetual-Discount	2.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.50 Evaluated at bid price : 22.85 Bid-YTW : 5.53 %
GWO.PR.P	Deemed-Retractible	2.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.23 Evaluated at bid price : 21.23 Bid-YTW : 6.42 %
ELF.PR.G	Perpetual-Discount	2.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.60 Evaluated at bid price : 18.60 Bid-YTW : 6.42 %
MFC.PR.J	FixedReset Ins Non	2.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 6.23 %
SLF.PR.D	Deemed-Retractible	2.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 6.10 %
POW.PR.G	Perpetual-Discount	2.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 6.66 %
TD.PF.M	FixedReset Disc	2.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.99 Evaluated at bid price : 18.99 Bid-YTW : 5.86 %
NA.PR.X	FixedReset Disc	2.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.50 Evaluated at bid price : 21.85 Bid-YTW : 6.33 %
IAF.PR.G	FixedReset Ins Non	2.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.30 Evaluated at bid price : 13.30 Bid-YTW : 6.70 %
CU.PR.H	Perpetual-Discount	2.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.70 Evaluated at bid price : 22.05 Bid-YTW : 6.02 %
MFC.PR.O	FixedReset Ins Non	2.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.61 Evaluated at bid price : 22.00 Bid-YTW : 6.43 %
MFC.PR.H	FixedReset Ins Non	2.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.70 Evaluated at bid price : 14.70 Bid-YTW : 6.61 %
IFC.PR.G	FixedReset Ins Non	2.55 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.10 Evaluated at bid price : 14.10 Bid-YTW : 6.33 %
CU.PR.G	Perpetual-Discount	2.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 5.95 %
BMO.PR.C	FixedReset Disc	2.73 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.55 Evaluated at bid price : 16.55 Bid-YTW : 6.21 %
CU.PR.E	Perpetual-Discount	2.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 20.80 Evaluated at bid price : 20.80 Bid-YTW : 5.98 %
NA.PR.W	FixedReset Disc	2.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.12 Evaluated at bid price : 13.12 Bid-YTW : 6.02 %
MFC.PR.C	Deemed-Retractible	2.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 6.29 %
NA.PR.G	FixedReset Disc	2.91 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.50 Evaluated at bid price : 14.50 Bid-YTW : 6.47 %
BIP.PR.B	FixedReset Disc	2.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.51 Evaluated at bid price : 21.51 Bid-YTW : 6.45 %
BNS.PR.G	FixedReset Disc	2.95 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.03 Evaluated at bid price : 22.65 Bid-YTW : 5.91 %
CU.PR.F	Perpetual-Discount	2.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 5.85 %
TD.PF.I	FixedReset Disc	3.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.22 Evaluated at bid price : 16.22 Bid-YTW : 5.86 %
BIP.PR.F	FixedReset Disc	3.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.45 Evaluated at bid price : 19.45 Bid-YTW : 6.62 %
CM.PR.Q	FixedReset Disc	3.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.55 Evaluated at bid price : 13.55 Bid-YTW : 6.36 %
GWO.PR.L	Deemed-Retractible	3.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.47 %
BAM.PF.A	FixedReset Disc	3.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 15.15 Evaluated at bid price : 15.15 Bid-YTW : 6.45 %
PWF.PR.H	Perpetual-Discount	3.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.85 Evaluated at bid price : 22.09 Bid-YTW : 6.52 %
BMO.PR.E	FixedReset Disc	3.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.50 Evaluated at bid price : 16.50 Bid-YTW : 5.62 %
RY.PR.Q	FixedReset Disc	3.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.98 Evaluated at bid price : 23.50 Bid-YTW : 5.58 %
TRP.PR.G	FixedReset Disc	3.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 12.85 Evaluated at bid price : 12.85 Bid-YTW : 7.15 %
EML.PR.A	FixedReset Ins Non	3.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.60 %
IFC.PR.I	Perpetual-Discount	3.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 22.70 Evaluated at bid price : 23.05 Bid-YTW : 5.94 %
HSE.PR.A	FixedReset Disc	3.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 5.60 Evaluated at bid price : 5.60 Bid-YTW : 10.76 %
PWF.PR.A	Floater	3.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 8.40 Evaluated at bid price : 8.40 Bid-YTW : 5.18 %
PVS.PR.H	SplitShare	3.74 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2027-02-28 Maturity Price : 25.00 Evaluated at bid price : 23.60 Bid-YTW : 5.80 %
MFC.PR.B	Deemed-Retractible	3.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 6.19 %
RY.PR.Z	FixedReset Disc	4.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.85 Evaluated at bid price : 13.85 Bid-YTW : 5.61 %
PVS.PR.G	SplitShare	4.40 %	YTW SCENARIO Maturity Type : Option Certainty Maturity Date : 2026-02-28 Maturity Price : 25.00 Evaluated at bid price : 23.75 Bid-YTW : 6.04 %
PWF.PR.T	FixedReset Disc	4.51 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.27 Evaluated at bid price : 13.27 Bid-YTW : 6.25 %
BMO.PR.F	FixedReset Disc	4.88 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 5.90 %
IAF.PR.I	FixedReset Ins Non	5.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 6.45 %
TRP.PR.H	FloatingReset	5.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 8.10 Evaluated at bid price : 8.10 Bid-YTW : 4.57 %
PWF.PR.P	FixedReset Disc	6.49 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 9.60 Evaluated at bid price : 9.60 Bid-YTW : 5.86 %
RY.PR.M	FixedReset Disc	7.73 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.50 Evaluated at bid price : 14.50 Bid-YTW : 5.73 %
TD.PF.E	FixedReset Disc	12.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 15.02 Evaluated at bid price : 15.02 Bid-YTW : 5.87 %
MFC.PR.I	FixedReset Ins Non	16.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.08 Evaluated at bid price : 14.08 Bid-YTW : 6.53 %

Volume Highlights
Issue	Index	Shares Traded	Notes
HSE.PR.A	FixedReset Disc	181,666	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 5.60 Evaluated at bid price : 5.60 Bid-YTW : 10.76 %
RY.PR.M	FixedReset Disc	111,567	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 14.50 Evaluated at bid price : 14.50 Bid-YTW : 5.73 %
BMO.PR.F	FixedReset Disc	92,933	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 5.90 %
BNS.PR.H	FixedReset Disc	90,339	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 5.76 %
TD.PF.L	FixedReset Disc	73,863	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 18.35 Evaluated at bid price : 18.35 Bid-YTW : 5.76 %
BMO.PR.C	FixedReset Disc	62,857	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 16.55 Evaluated at bid price : 16.55 Bid-YTW : 6.21 %
There were 93 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
MFC.PR.K	FixedReset Ins Non	Quote: 12.67 – 18.10 Spot Rate : 5.4300 Average : 3.4621 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 12.67 Evaluated at bid price : 12.67 Bid-YTW : 6.39 %
EML.PR.A	FixedReset Ins Non	Quote: 21.50 – 23.39 Spot Rate : 1.8900 Average : 1.0905 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.60 %
GWO.PR.N	FixedReset Ins Non	Quote: 8.65 – 10.00 Spot Rate : 1.3500 Average : 0.7938 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 8.65 Evaluated at bid price : 8.65 Bid-YTW : 5.68 %
EIT.PR.B	SplitShare	Quote: 22.75 – 24.75 Spot Rate : 2.0000 Average : 1.5474 YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2025-03-14 Maturity Price : 25.00 Evaluated at bid price : 22.75 Bid-YTW : 7.11 %
BAM.PF.B	FixedReset Disc	Quote: 13.80 – 16.54 Spot Rate : 2.7400 Average : 2.2936 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.80 Evaluated at bid price : 13.80 Bid-YTW : 6.52 %
MFC.PR.G	FixedReset Ins Non	Quote: 13.70 – 19.17 Spot Rate : 5.4700 Average : 5.0422 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-08 Maturity Price : 13.70 Evaluated at bid price : 13.70 Bid-YTW : 6.61 %

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