TXPR closed at 528.61, down 0.55% on the day. Volume today was 1.49-million, near the lows of the past thirty days.
CPD closed at 10.525, down 0.43% on the day. Volume was 135,867, a little above the median of the past 30 trading days.
ZPR closed at 8.185, down 1.50% on the day. Volume of 301,200 was near the median the context of the past 30 trading days.
Five-year Canada yields were down 2bp at 0.36% today.
The carnage has been attributed to a familiar villain:
Wall Street’s major indexes tumbled more than 2% on Friday as several U.S. states imposed business restrictions in response to a surge in coronavirus cases. The TSX lost 1.66%, with both energy and financial sectors losing more than 2.5%.
Some U.S. states that were spared the brunt of the initial coronavirus outbreak or moved early to lift restrictions are seeing a resurgence in new infections. On Friday, Texas and Florida ordered bars to close down again.
…
A Wall Street Journal report that the Phase 1 U.S.-China trade deal could be at risk placed additional pressure on U.S. stocks. According to that report, Chinese officials warned that “meddling” in Hong Kong and Taiwan could lead Beijing to back away from its commitment to purchase U.S. farm goods.
…
Among sectors, financial, communication services and energy shares outpaced the broader S&P 500 in declines. S&P 500 bank shares plummeted 6.1% after the Federal Reserve limited dividend payments and barred share repurchases until at least the fourth quarter following its annual stress test.
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 | -1.0638 % | 1,445.0 |
FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.0638 % | 2,651.6 |
Floater | 5.42 % | 5.73 % | 50,002 | 14.30 | 4 | -1.0638 % | 1,528.1 |
OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2632 % | 3,444.8 |
SplitShare | 4.88 % | 5.02 % | 68,879 | 3.82 | 7 | -0.2632 % | 4,113.9 |
Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2632 % | 3,209.8 |
Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -2.6410 % | 2,943.6 |
Perpetual-Discount | 5.73 % | 5.81 % | 78,260 | 14.18 | 35 | -2.6410 % | 3,157.4 |
FixedReset Disc | 6.29 % | 5.12 % | 149,276 | 14.90 | 83 | -0.4510 % | 1,818.3 |
Deemed-Retractible | 5.36 % | 5.65 % | 92,103 | 14.35 | 27 | -0.4374 % | 3,192.1 |
FloatingReset | 5.09 % | 5.07 % | 44,034 | 15.38 | 3 | -1.4264 % | 1,729.2 |
FixedReset Prem | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4510 % | 2,514.7 |
FixedReset Bank Non | 1.98 % | 3.38 % | 133,146 | 1.56 | 2 | 0.1639 % | 2,786.7 |
FixedReset Ins Non | 6.58 % | 5.25 % | 120,293 | 14.66 | 22 | -0.8394 % | 1,819.9 |
Performance Highlights | |||
Issue | Index | Change | Notes |
CU.PR.F | Perpetual-Discount | -33.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.21 Evaluated at bid price : 14.21 Bid-YTW : 8.04 % |
CU.PR.G | Perpetual-Discount | -26.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.96 Evaluated at bid price : 15.96 Bid-YTW : 7.15 % |
BAM.PF.D | Perpetual-Discount | -22.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 17.01 Evaluated at bid price : 17.01 Bid-YTW : 7.26 % |
TD.PF.E | FixedReset Disc | -14.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 5.78 % |
MFC.PR.I | FixedReset Ins Non | -6.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.40 Evaluated at bid price : 15.40 Bid-YTW : 5.51 % |
GWO.PR.N | FixedReset Ins Non | -5.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 8.75 Evaluated at bid price : 8.75 Bid-YTW : 4.82 % |
SLF.PR.J | FloatingReset | -4.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 8.60 Evaluated at bid price : 8.60 Bid-YTW : 4.69 % |
GWO.PR.R | Deemed-Retractible | -2.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 5.83 % |
MFC.PR.M | FixedReset Ins Non | -2.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.38 Evaluated at bid price : 14.38 Bid-YTW : 5.24 % |
BAM.PF.C | Perpetual-Discount | -2.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 5.81 % |
MFC.PR.Q | FixedReset Ins Non | -2.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.73 Evaluated at bid price : 15.73 Bid-YTW : 5.14 % |
TRP.PR.D | FixedReset Disc | -2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 12.62 Evaluated at bid price : 12.62 Bid-YTW : 6.10 % |
MFC.PR.F | FixedReset Ins Non | -2.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 9.13 Evaluated at bid price : 9.13 Bid-YTW : 4.93 % |
GWO.PR.P | Deemed-Retractible | -2.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 22.82 Evaluated at bid price : 23.10 Bid-YTW : 5.87 % |
BAM.PR.T | FixedReset Disc | -2.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 11.55 Evaluated at bid price : 11.55 Bid-YTW : 6.03 % |
IFC.PR.G | FixedReset Ins Non | -1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 5.46 % |
TRP.PR.B | FixedReset Disc | -1.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 7.65 Evaluated at bid price : 7.65 Bid-YTW : 5.40 % |
RY.PR.Z | FixedReset Disc | -1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.80 Evaluated at bid price : 14.80 Bid-YTW : 4.81 % |
RY.PR.M | FixedReset Disc | -1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.55 Evaluated at bid price : 15.55 Bid-YTW : 4.86 % |
BIP.PR.A | FixedReset Disc | -1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.40 Evaluated at bid price : 14.40 Bid-YTW : 6.86 % |
BAM.PR.N | Perpetual-Discount | -1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 20.61 Evaluated at bid price : 20.61 Bid-YTW : 5.80 % |
BAM.PR.K | Floater | -1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 7.41 Evaluated at bid price : 7.41 Bid-YTW : 5.81 % |
BMO.PR.S | FixedReset Disc | -1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.86 Evaluated at bid price : 14.86 Bid-YTW : 5.01 % |
BAM.PR.Z | FixedReset Disc | -1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.56 Evaluated at bid price : 14.56 Bid-YTW : 6.14 % |
PWF.PR.E | Perpetual-Discount | -1.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 22.92 Evaluated at bid price : 23.19 Bid-YTW : 6.03 % |
MFC.PR.C | Deemed-Retractible | -1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.44 % |
TRP.PR.G | FixedReset Disc | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.10 Evaluated at bid price : 14.10 Bid-YTW : 5.98 % |
BIP.PR.F | FixedReset Disc | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 20.15 Evaluated at bid price : 20.15 Bid-YTW : 6.37 % |
PWF.PR.S | Perpetual-Discount | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.86 % |
CIU.PR.A | Perpetual-Discount | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 20.97 Evaluated at bid price : 20.97 Bid-YTW : 5.55 % |
BAM.PR.C | Floater | -1.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 7.50 Evaluated at bid price : 7.50 Bid-YTW : 5.73 % |
IFC.PR.C | FixedReset Ins Non | -1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 13.90 Evaluated at bid price : 13.90 Bid-YTW : 5.50 % |
TRP.PR.E | FixedReset Disc | -1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 12.50 Evaluated at bid price : 12.50 Bid-YTW : 6.10 % |
BAM.PR.X | FixedReset Disc | -1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 9.62 Evaluated at bid price : 9.62 Bid-YTW : 5.83 % |
IAF.PR.G | FixedReset Ins Non | -1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.61 Evaluated at bid price : 15.61 Bid-YTW : 5.27 % |
HSE.PR.A | FixedReset Disc | -1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 6.00 Evaluated at bid price : 6.00 Bid-YTW : 8.89 % |
BAM.PR.B | Floater | -1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 7.50 Evaluated at bid price : 7.50 Bid-YTW : 5.73 % |
SLF.PR.H | FixedReset Ins Non | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 12.01 Evaluated at bid price : 12.01 Bid-YTW : 5.34 % |
MFC.PR.J | FixedReset Ins Non | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.78 Evaluated at bid price : 15.78 Bid-YTW : 5.17 % |
BMO.PR.Y | FixedReset Disc | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.80 Evaluated at bid price : 15.80 Bid-YTW : 4.92 % |
BAM.PF.E | FixedReset Disc | -1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 13.01 Evaluated at bid price : 13.01 Bid-YTW : 6.01 % |
PVS.PR.H | SplitShare | -1.21 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2027-02-28 Maturity Price : 25.00 Evaluated at bid price : 24.40 Bid-YTW : 5.20 % |
TD.PF.H | FixedReset Disc | -1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 22.38 Evaluated at bid price : 22.80 Bid-YTW : 5.00 % |
BAM.PF.A | FixedReset Disc | -1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.44 Evaluated at bid price : 15.44 Bid-YTW : 5.89 % |
BMO.PR.B | FixedReset Disc | -1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 22.33 Evaluated at bid price : 22.69 Bid-YTW : 4.95 % |
BMO.PR.T | FixedReset Disc | -1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 5.02 % |
PWF.PR.R | Perpetual-Discount | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 23.27 Evaluated at bid price : 23.55 Bid-YTW : 5.93 % |
MFC.PR.N | FixedReset Ins Non | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.14 Evaluated at bid price : 14.14 Bid-YTW : 5.21 % |
BAM.PF.I | FixedReset Disc | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 22.86 Evaluated at bid price : 23.24 Bid-YTW : 5.17 % |
CU.PR.C | FixedReset Disc | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 14.70 Evaluated at bid price : 14.70 Bid-YTW : 4.86 % |
SLF.PR.G | FixedReset Ins Non | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 8.95 Evaluated at bid price : 8.95 Bid-YTW : 4.98 % |
TD.PF.J | FixedReset Disc | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 17.45 Evaluated at bid price : 17.45 Bid-YTW : 4.85 % |
TRP.PR.F | FloatingReset | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 9.66 Evaluated at bid price : 9.66 Bid-YTW : 5.50 % |
TD.PF.D | FixedReset Disc | 2.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 16.17 Evaluated at bid price : 16.17 Bid-YTW : 4.96 % |
NA.PR.G | FixedReset Disc | 4.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 17.73 Evaluated at bid price : 17.73 Bid-YTW : 4.97 % |
MFC.PR.H | FixedReset Ins Non | 7.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 17.13 Evaluated at bid price : 17.13 Bid-YTW : 5.25 % |
Volume Highlights | |||
Issue | Index | Shares Traded |
Notes |
SLF.PR.A | Deemed-Retractible | 56,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 22.05 Evaluated at bid price : 22.34 Bid-YTW : 5.33 % |
SLF.PR.E | Deemed-Retractible | 49,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 21.21 Evaluated at bid price : 21.21 Bid-YTW : 5.34 % |
TD.PF.L | FixedReset Disc | 38,007 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 20.91 Evaluated at bid price : 20.91 Bid-YTW : 4.82 % |
PWF.PR.K | Perpetual-Discount | 34,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.86 % |
CU.PR.E | Perpetual-Discount | 33,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 22.84 Evaluated at bid price : 23.21 Bid-YTW : 5.31 % |
CU.PR.G | Perpetual-Discount | 31,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-06-26 Maturity Price : 15.96 Evaluated at bid price : 15.96 Bid-YTW : 7.15 % |
There were 22 other index-included issues trading in excess of 10,000 shares. |
Wide Spread Highlights | ||
Issue | Index | Quote Data and Yield Notes |
CU.PR.F | Perpetual-Discount | Quote: 14.21 – 21.84 Spot Rate : 7.6300 Average : 4.0718 YTW SCENARIO |
CU.PR.G | Perpetual-Discount | Quote: 15.96 – 21.80 Spot Rate : 5.8400 Average : 3.1089 YTW SCENARIO |
BAM.PF.D | Perpetual-Discount | Quote: 17.01 – 22.47 Spot Rate : 5.4600 Average : 2.9993 YTW SCENARIO |
BAM.PR.X | FixedReset Disc | Quote: 9.62 – 17.27 Spot Rate : 7.6500 Average : 6.5353 YTW SCENARIO |
MFC.PR.I | FixedReset Ins Non | Quote: 15.40 – 18.00 Spot Rate : 2.6000 Average : 1.4969 YTW SCENARIO |
TD.PF.E | FixedReset Disc | Quote: 14.30 – 16.62 Spot Rate : 2.3200 Average : 1.3659 YTW SCENARIO |
Hi,
You are showing CU-PF.to at -33.94% perfomance. That is due to a stink bid in the system at 14.21? It closed at $21.61 yesterday. Sorry for the newbie question.
Thx
FS
Yes; as shown in the last table (of Wide Spreads) the closing quote supplied at great expense by the Toronto Stock Exchange was 14.21 – 21.84.
In happier times (e.g., March 3, 2020) I provide additional commentary on these ludicrous quotes and include the following paragraph:
The first of the quoted links provides an explanation of why most of the quotes are so awful. The second accounts for the balance.
However, since the start of the coronavirus shutdown, the quotes have become so bad that it would simply take too long every single damn day.
An eMail to the Exchange telling them how very little their reporting impresses you would be appreciated!
I am interested if anyone has comments in potential Yield Curve Control by the BoC. I think a lot of us price in some optionality on the rate resets, but if the 5yr pegs to say 0.05 these issues are going to plummet.
I am interested if anyone has comments in potential Yield Curve Control by the BoC.
There were some comments on Yield Curve Control on June 16.