PrefBlog

TXPR closed at 533.60, up 1.76% on the day. Volume today was 3.04-million, second-highest of the past thirty days, behind only May 7.

CPD closed at 10.67, up 1.72% on the day. Volume was 255,837, highest of the past 30 trading days, ahead of second place May 13.

ZPR closed at 8.31, up 2.21% on the day. Volume of 1,155,356 was highest of the past 30 trading days, more than doubling second-place June 2.

Five-year Canada yields were up 4bp at 0.52% today.

Equities did well:

Stocks on Wall Street shot higher on Friday, with the S&P 500 coming close to recouping all of its losses for 2020 so far, after the federal government reported a surprising pickup in hiring in May.

The S&P 500 rose more than 2 percent. The index is now about 1 percent below where it started the year, and less than 6 percent away from its high point in February.

Another major Wall Street index, the tech-heavy Nasdaq composite, closed just short of a record.
…
The rally rippled through other markets as well. Oil prices also surged, as did yields on U.S. Treasury bonds, suggesting the job numbers delivered an unexpected jolt of economic optimism to investors.

Oil prices were also strengthened by the expectation that the Organization of the Petroleum Exporting Countries, Russia and other producers will agree on Saturday to extend production cuts through July. These countries originally agreed on April 12 to trim production by a combined 9.7 million barrels a day, or about 10 percent of global supplies in normal times. Production was supposed to begin rising gradually after June.

… and in Canada:

The S&P/TSX Composite Index rose 326.20 points to 15,854.07. Gold stocks were lower, but otherwise gains were widespread across sectors, with energy rallying 7.9%. Financials rose just over 3%.

All this is attributed to jobs, jobs, jobs!

Canada and the United States posted surprise gains in employment for May, a sign the North American economy is beginning to heal from the COVID-19 pandemic.

In Canada, the number of employed people rose by 289,600 last month as provinces began to reopen their economies, Statistics Canada said Friday, or strikingly better than a loss of 500,000 that economists had expected. The unemployment rate climbed to a record high of 13.7 per cent as more people rejoined the labour market in search of work.

The U.S. notched an increase of 2.5 million jobs in May, far different from the median estimate of another 7.5 million positions lost to pandemic shutdowns. The jobless rate fell to 13.3 per cent, the second highest on record, from April’s 14.7 per cent.
…
Indeed, with May’s increases, Canada has recouped just less than 10 per cent of a combined three million jobs lost in March and April, while the U.S. has recovered 11.4 per cent of 22 million positions lost during those months.
…
The Canadian job market was jolted on several fronts. Nearly 80 per cent of May’s increase was registered in Quebec, which saw a net gain of 231,000 workers. The province allowed the construction industry to return in mid-April and other restrictions began to ease outside the Montreal area in early May.
…
Ontario was the only province where employment declined last month, although losses were less severe than in March and April. The first stage of the province’s reopening plan took effect after the Victoria Day weekend.

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	-0.2474 %	1,452.4
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.2474 %	2,665.2
Floater	5.32 %	5.45 %	39,361	14.64	4	-0.2474 %	1,535.9
OpRet	0.00 %	0.00 %	0	0.00	0	0.4580 %	3,468.2
SplitShare	4.84 %	4.77 %	65,777	3.88	7	0.4580 %	4,141.7
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.4580 %	3,231.5
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	0.5281 %	3,010.9
Perpetual-Discount	5.59 %	5.78 %	78,029	14.12	35	0.5281 %	3,229.5
FixedReset Disc	6.22 %	5.16 %	176,130	14.85	83	1.1496 %	1,832.7
Deemed-Retractible	5.36 %	5.55 %	83,450	14.41	27	0.9671 %	3,189.6
FloatingReset	4.86 %	4.74 %	50,848	16.01	3	2.7939 %	1,791.4
FixedReset Prem	0.00 %	0.00 %	0	0.00	0	1.1496 %	2,534.6
FixedReset Bank Non	1.98 %	3.47 %	149,456	1.62	2	0.0410 %	2,779.9
FixedReset Ins Non	6.49 %	5.25 %	115,023	14.65	22	1.4174 %	1,837.7

Performance Highlights
Issue	Index	Change	Notes
CU.PR.C	FixedReset Disc	-6.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 4.82 %
BAM.PR.K	Floater	-5.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 7.36 Evaluated at bid price : 7.36 Bid-YTW : 5.93 %
IAF.PR.B	Deemed-Retractible	-3.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.62 %
BAM.PF.B	FixedReset Disc	-2.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.55 Evaluated at bid price : 14.55 Bid-YTW : 5.91 %
TD.PF.E	FixedReset Disc	-2.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.88 Evaluated at bid price : 15.88 Bid-YTW : 5.25 %
RY.PR.J	FixedReset Disc	-1.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.80 Evaluated at bid price : 15.80 Bid-YTW : 5.03 %
BAM.PF.H	FixedReset Disc	-1.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.85 Evaluated at bid price : 24.50 Bid-YTW : 5.16 %
TRP.PR.C	FixedReset Disc	-1.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 8.33 Evaluated at bid price : 8.33 Bid-YTW : 5.97 %
MFC.PR.N	FixedReset Ins Non	-1.41 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.00 Evaluated at bid price : 14.00 Bid-YTW : 5.32 %
RY.PR.O	Perpetual-Discount	-1.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.17 Evaluated at bid price : 23.61 Bid-YTW : 5.21 %
CU.PR.H	Perpetual-Discount	-1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.77 Evaluated at bid price : 24.05 Bid-YTW : 5.48 %
NA.PR.E	FixedReset Disc	-1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.69 Evaluated at bid price : 15.69 Bid-YTW : 5.25 %
PWF.PR.T	FixedReset Disc	1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.05 Evaluated at bid price : 15.05 Bid-YTW : 5.22 %
CM.PR.T	FixedReset Disc	1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.13 %
EIT.PR.A	SplitShare	1.01 %	YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2024-03-14 Maturity Price : 25.00 Evaluated at bid price : 25.00 Bid-YTW : 4.79 %
BNS.PR.H	FixedReset Disc	1.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.73 Evaluated at bid price : 23.12 Bid-YTW : 5.04 %
IFC.PR.F	Deemed-Retractible	1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.46 Evaluated at bid price : 23.85 Bid-YTW : 5.64 %
RY.PR.S	FixedReset Disc	1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 4.53 %
BNS.PR.G	FixedReset Disc	1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.88 Evaluated at bid price : 25.02 Bid-YTW : 5.15 %
SLF.PR.A	Deemed-Retractible	1.10 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 5.39 %
BMO.PR.B	FixedReset Disc	1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.40 Evaluated at bid price : 22.75 Bid-YTW : 4.97 %
TD.PF.J	FixedReset Disc	1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 17.26 Evaluated at bid price : 17.26 Bid-YTW : 4.95 %
BMO.PR.D	FixedReset Disc	1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 18.01 Evaluated at bid price : 18.01 Bid-YTW : 5.15 %
BIP.PR.F	FixedReset Disc	1.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 19.96 Evaluated at bid price : 19.96 Bid-YTW : 6.41 %
BMO.PR.C	FixedReset Disc	1.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 18.78 Evaluated at bid price : 18.78 Bid-YTW : 5.13 %
IFC.PR.E	Deemed-Retractible	1.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.41 Evaluated at bid price : 23.80 Bid-YTW : 5.55 %
GWO.PR.T	Deemed-Retractible	1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.30 Evaluated at bid price : 22.70 Bid-YTW : 5.66 %
BAM.PR.N	Perpetual-Discount	1.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.81 %
CM.PR.Y	FixedReset Disc	1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.30 Evaluated at bid price : 21.30 Bid-YTW : 5.12 %
IFC.PR.I	Perpetual-Discount	1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.76 Evaluated at bid price : 24.10 Bid-YTW : 5.74 %
TD.PF.M	FixedReset Disc	1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.31 Evaluated at bid price : 21.60 Bid-YTW : 4.96 %
PWF.PR.R	Perpetual-Discount	1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.66 Evaluated at bid price : 23.95 Bid-YTW : 5.81 %
PWF.PR.E	Perpetual-Discount	1.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.42 Evaluated at bid price : 23.71 Bid-YTW : 5.87 %
TRP.PR.K	FixedReset Disc	1.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.71 Evaluated at bid price : 23.04 Bid-YTW : 5.34 %
CM.PR.R	FixedReset Disc	1.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 5.31 %
TD.PF.I	FixedReset Disc	1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 18.02 Evaluated at bid price : 18.02 Bid-YTW : 5.04 %
TRP.PR.G	FixedReset Disc	1.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.21 Evaluated at bid price : 14.21 Bid-YTW : 5.99 %
NA.PR.A	FixedReset Disc	1.51 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.05 Evaluated at bid price : 23.55 Bid-YTW : 5.43 %
NA.PR.C	FixedReset Disc	1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 18.53 Evaluated at bid price : 18.53 Bid-YTW : 5.35 %
IFC.PR.G	FixedReset Ins Non	1.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.84 Evaluated at bid price : 15.84 Bid-YTW : 5.34 %
NA.PR.G	FixedReset Disc	1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 5.16 %
TRP.PR.B	FixedReset Disc	1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 7.65 Evaluated at bid price : 7.65 Bid-YTW : 5.54 %
MFC.PR.J	FixedReset Ins Non	1.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.90 Evaluated at bid price : 15.90 Bid-YTW : 5.19 %
SLF.PR.J	FloatingReset	1.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 8.80 Evaluated at bid price : 8.80 Bid-YTW : 4.51 %
GWO.PR.R	Deemed-Retractible	1.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 5.63 %
BMO.PR.Y	FixedReset Disc	1.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.65 Evaluated at bid price : 15.65 Bid-YTW : 5.02 %
PWF.PR.K	Perpetual-Discount	1.63 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.54 Evaluated at bid price : 21.80 Bid-YTW : 5.74 %
PWF.PR.Z	Perpetual-Discount	1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.17 Evaluated at bid price : 22.53 Bid-YTW : 5.78 %
GWO.PR.N	FixedReset Ins Non	1.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 9.55 Evaluated at bid price : 9.55 Bid-YTW : 4.52 %
MFC.PR.K	FixedReset Ins Non	1.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 5.19 %
MFC.PR.R	FixedReset Ins Non	1.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.17 %
IFC.PR.C	FixedReset Ins Non	1.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.20 Evaluated at bid price : 14.20 Bid-YTW : 5.55 %
BIP.PR.E	FixedReset Disc	1.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 19.95 Evaluated at bid price : 19.95 Bid-YTW : 6.28 %
TD.PF.B	FixedReset Disc	1.80 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.27 Evaluated at bid price : 15.27 Bid-YTW : 4.84 %
GWO.PR.F	Deemed-Retractible	1.83 %	YTW SCENARIO Maturity Type : Call Maturity Date : 2020-07-05 Maturity Price : 25.00 Evaluated at bid price : 25.05 Bid-YTW : -1.44 %
MFC.PR.H	FixedReset Ins Non	1.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 17.01 Evaluated at bid price : 17.01 Bid-YTW : 5.34 %
PWF.PR.S	Perpetual-Discount	1.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 5.74 %
TD.PF.D	FixedReset Disc	1.88 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 16.30 Evaluated at bid price : 16.30 Bid-YTW : 4.98 %
GWO.PR.G	Deemed-Retractible	1.91 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.71 Evaluated at bid price : 23.00 Bid-YTW : 5.65 %
RY.PR.Z	FixedReset Disc	1.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.25 Evaluated at bid price : 15.25 Bid-YTW : 4.71 %
GWO.PR.I	Deemed-Retractible	1.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 19.98 Evaluated at bid price : 19.98 Bid-YTW : 5.64 %
CM.PR.O	FixedReset Disc	2.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.21 Evaluated at bid price : 14.21 Bid-YTW : 5.31 %
BMO.PR.S	FixedReset Disc	2.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.17 Evaluated at bid price : 15.17 Bid-YTW : 4.95 %
NA.PR.S	FixedReset Disc	2.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.96 Evaluated at bid price : 14.96 Bid-YTW : 5.20 %
IFC.PR.A	FixedReset Ins Non	2.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 11.40 Evaluated at bid price : 11.40 Bid-YTW : 5.20 %
BMO.PR.E	FixedReset Disc	2.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 17.40 Evaluated at bid price : 17.40 Bid-YTW : 4.96 %
SLF.PR.I	FixedReset Ins Non	2.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 5.18 %
MFC.PR.G	FixedReset Ins Non	2.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 5.27 %
GWO.PR.S	Deemed-Retractible	2.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.69 Evaluated at bid price : 23.07 Bid-YTW : 5.68 %
CM.PR.S	FixedReset Disc	2.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.70 Evaluated at bid price : 15.70 Bid-YTW : 5.05 %
MFC.PR.L	FixedReset Ins Non	2.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 13.73 Evaluated at bid price : 13.73 Bid-YTW : 5.20 %
BAM.PR.M	Perpetual-Discount	2.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 5.84 %
EML.PR.A	FixedReset Ins Non	2.48 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.41 Evaluated at bid price : 24.00 Bid-YTW : 5.71 %
CM.PR.Q	FixedReset Disc	2.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 5.42 %
BMO.PR.W	FixedReset Disc	2.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.05 Evaluated at bid price : 15.05 Bid-YTW : 4.90 %
SLF.PR.C	Deemed-Retractible	2.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 5.31 %
BMO.PR.T	FixedReset Disc	2.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.75 Evaluated at bid price : 14.75 Bid-YTW : 4.91 %
BAM.PF.E	FixedReset Disc	2.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 13.95 Evaluated at bid price : 13.95 Bid-YTW : 5.75 %
NA.PR.W	FixedReset Disc	2.73 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.65 Evaluated at bid price : 14.65 Bid-YTW : 5.12 %
SLF.PR.H	FixedReset Ins Non	2.74 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 12.75 Evaluated at bid price : 12.75 Bid-YTW : 5.10 %
TRP.PR.F	FloatingReset	2.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 10.00 Evaluated at bid price : 10.00 Bid-YTW : 5.25 %
MFC.PR.B	Deemed-Retractible	2.80 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.38 Evaluated at bid price : 21.65 Bid-YTW : 5.37 %
BAM.PR.R	FixedReset Disc	2.93 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 12.30 Evaluated at bid price : 12.30 Bid-YTW : 5.66 %
TRP.PR.E	FixedReset Disc	3.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 13.05 Evaluated at bid price : 13.05 Bid-YTW : 5.88 %
BIP.PR.A	FixedReset Disc	3.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.89 Evaluated at bid price : 14.89 Bid-YTW : 6.69 %
MFC.PR.C	Deemed-Retractible	3.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 5.32 %
MFC.PR.Q	FixedReset Ins Non	3.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.75 Evaluated at bid price : 15.75 Bid-YTW : 5.19 %
HSE.PR.C	FixedReset Disc	3.73 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 11.41 Evaluated at bid price : 11.41 Bid-YTW : 8.88 %
BAM.PR.C	Floater	3.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 7.99 Evaluated at bid price : 7.99 Bid-YTW : 5.45 %
BAM.PF.G	FixedReset Disc	3.91 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 14.60 Evaluated at bid price : 14.60 Bid-YTW : 5.68 %
BAM.PR.Z	FixedReset Disc	3.98 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 16.20 Evaluated at bid price : 16.20 Bid-YTW : 5.64 %
TRP.PR.H	FloatingReset	4.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 7.69 Evaluated at bid price : 7.69 Bid-YTW : 4.74 %
PWF.PR.P	FixedReset Disc	4.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 9.90 Evaluated at bid price : 9.90 Bid-YTW : 5.18 %
HSE.PR.E	FixedReset Disc	4.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 12.10 Evaluated at bid price : 12.10 Bid-YTW : 8.96 %
BAM.PR.X	FixedReset Disc	4.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 10.34 Evaluated at bid price : 10.34 Bid-YTW : 5.61 %
BAM.PF.F	FixedReset Disc	4.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.75 Evaluated at bid price : 15.75 Bid-YTW : 5.61 %
TD.PF.A	FixedReset Disc	5.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.30 Evaluated at bid price : 15.30 Bid-YTW : 4.81 %
HSE.PR.G	FixedReset Disc	7.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 11.40 Evaluated at bid price : 11.40 Bid-YTW : 8.86 %
HSE.PR.A	FixedReset Disc	8.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 7.06 Evaluated at bid price : 7.06 Bid-YTW : 7.83 %

Volume Highlights
Issue	Index	Shares Traded	Notes
TRP.PR.K	FixedReset Disc	145,750	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 22.71 Evaluated at bid price : 23.04 Bid-YTW : 5.34 %
NA.PR.A	FixedReset Disc	98,833	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.05 Evaluated at bid price : 23.55 Bid-YTW : 5.43 %
MFC.PR.Q	FixedReset Ins Non	95,330	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.75 Evaluated at bid price : 15.75 Bid-YTW : 5.19 %
NA.PR.C	FixedReset Disc	80,288	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 18.53 Evaluated at bid price : 18.53 Bid-YTW : 5.35 %
W.PR.M	FixedReset Disc	78,790	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 23.70 Evaluated at bid price : 24.81 Bid-YTW : 5.26 %
BMO.PR.E	FixedReset Disc	68,258	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 17.40 Evaluated at bid price : 17.40 Bid-YTW : 4.96 %
There were 39 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
BAM.PR.R	FixedReset Disc	Quote: 12.30 – 15.00 Spot Rate : 2.7000 Average : 1.5579 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 12.30 Evaluated at bid price : 12.30 Bid-YTW : 5.66 %
RY.PR.J	FixedReset Disc	Quote: 15.80 – 17.23 Spot Rate : 1.4300 Average : 0.8087 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.80 Evaluated at bid price : 15.80 Bid-YTW : 5.03 %
CU.PR.C	FixedReset Disc	Quote: 15.00 – 16.69 Spot Rate : 1.6900 Average : 1.0834 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 4.82 %
BAM.PR.K	Floater	Quote: 7.36 – 8.51 Spot Rate : 1.1500 Average : 0.6664 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 7.36 Evaluated at bid price : 7.36 Bid-YTW : 5.93 %
BAM.PR.B	Floater	Quote: 7.65 – 8.63 Spot Rate : 0.9800 Average : 0.5540 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 7.65 Evaluated at bid price : 7.65 Bid-YTW : 5.70 %
TD.PF.E	FixedReset Disc	Quote: 15.88 – 17.23 Spot Rate : 1.3500 Average : 0.9428 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-05 Maturity Price : 15.88 Evaluated at bid price : 15.88 Bid-YTW : 5.25 %

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