More carnage and destruction today:
Initial hopes that the stock market would stabilize after Wednesday’s sharp sell-off were dashed on Thursday: U.S., Canadian, Asian and European stocks slid further, contributing to the most challenging atmosphere for stocks since February and raising questions about how long the rout will last – and how deep it will go.
…
These concerns are reverberating worldwide. The S&P 500 fell 57.32 points, or 2.1 per cent, to 2728.36, one day after registering its worst decline in eight months. The Dow Jones Industrial Average fell 545.91 points or 2.1 per cent, to 25,052.83 − bringing its two-day decline to more than 1,300 points.In Canada, the S&P/TSX Composite Index fell 200.27 points or 1.3 per cent, to 15,317.13. Britain’s FTSE 100 fell 1.9 per cent and Japan’s Nikkei 225 fell 3.9 per cent.
| 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 | -1.1302 % | 3,119.2 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.1302 % | 5,723.5 |
| Floater | 3.48 % | 3.67 % | 40,035 | 18.16 | 4 | -1.1302 % | 3,298.5 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2138 % | 3,226.1 |
| SplitShare | 4.61 % | 4.72 % | 54,661 | 4.74 | 5 | -0.2138 % | 3,852.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2138 % | 3,006.0 |
| Perpetual-Premium | 5.61 % | -2.09 % | 58,954 | 0.14 | 12 | -0.1724 % | 2,916.7 |
| Perpetual-Discount | 5.53 % | 5.66 % | 68,919 | 14.42 | 21 | -0.1720 % | 2,963.3 |
| FixedReset Disc | 4.19 % | 5.12 % | 132,607 | 15.27 | 43 | -0.7133 % | 2,587.3 |
| Deemed-Retractible | 5.27 % | 6.28 % | 65,788 | 5.28 | 27 | -0.1771 % | 2,936.1 |
| FloatingReset | 3.58 % | 3.77 % | 41,562 | 5.58 | 4 | -0.6804 % | 2,849.9 |
| FixedReset Prem | 4.88 % | 4.25 % | 224,411 | 3.05 | 34 | -0.2852 % | 2,563.6 |
| FixedReset Bank Non | 3.20 % | 4.01 % | 68,815 | 0.37 | 9 | -0.0588 % | 2,577.6 |
| FixedReset Ins Non | 4.41 % | 5.53 % | 104,288 | 5.35 | 22 | -0.6970 % | 2,544.7 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| HSE.PR.C | FixedReset Disc | -3.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 23.31 Evaluated at bid price : 23.80 Bid-YTW : 5.80 % |
| BAM.PR.B | Floater | -2.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 3.72 % |
| HSE.PR.G | FixedReset Prem | -2.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 24.11 Evaluated at bid price : 24.43 Bid-YTW : 6.02 % |
| PWF.PR.P | FixedReset Disc | -2.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 19.15 Evaluated at bid price : 19.15 Bid-YTW : 5.03 % |
| MFC.PR.N | FixedReset Ins Non | -2.28 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.71 Bid-YTW : 6.40 % |
| MFC.PR.M | FixedReset Ins Non | -2.19 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.81 Bid-YTW : 6.44 % |
| BAM.PR.C | Floater | -2.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 17.74 Evaluated at bid price : 17.74 Bid-YTW : 3.67 % |
| TRP.PR.C | FixedReset Disc | -2.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 17.57 Evaluated at bid price : 17.57 Bid-YTW : 5.39 % |
| BIP.PR.A | FixedReset Disc | -1.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 23.51 Evaluated at bid price : 23.88 Bid-YTW : 6.18 % |
| BMO.PR.T | FixedReset Disc | -1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 22.81 Evaluated at bid price : 23.40 Bid-YTW : 5.01 % |
| CU.PR.F | Perpetual-Discount | -1.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 20.31 Evaluated at bid price : 20.31 Bid-YTW : 5.62 % |
| RY.PR.M | FixedReset Disc | -1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 23.22 Evaluated at bid price : 24.20 Bid-YTW : 5.07 % |
| MFC.PR.L | FixedReset Ins Non | -1.62 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.85 Bid-YTW : 7.15 % |
| BAM.PR.X | FixedReset Disc | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 18.87 Evaluated at bid price : 18.87 Bid-YTW : 5.26 % |
| IAG.PR.G | FixedReset Ins Non | -1.41 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-06-30 Maturity Price : 25.00 Evaluated at bid price : 23.76 Bid-YTW : 5.33 % |
| SLF.PR.G | FixedReset Ins Non | -1.40 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.70 Bid-YTW : 7.77 % |
| IFC.PR.C | FixedReset Ins Non | -1.34 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.55 Bid-YTW : 5.40 % |
| W.PR.K | FixedReset Prem | -1.33 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-01-15 Maturity Price : 25.00 Evaluated at bid price : 25.16 Bid-YTW : 4.95 % |
| PWF.PR.T | FixedReset Disc | -1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 23.17 Evaluated at bid price : 24.09 Bid-YTW : 4.97 % |
| MFC.PR.F | FixedReset Ins Non | -1.26 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.00 Bid-YTW : 9.07 % |
| BAM.PR.K | Floater | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 17.37 Evaluated at bid price : 17.37 Bid-YTW : 3.75 % |
| BAM.PF.C | Perpetual-Discount | -1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 20.74 Evaluated at bid price : 20.74 Bid-YTW : 5.90 % |
| BMO.PR.W | FixedReset Disc | -1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 22.75 Evaluated at bid price : 23.26 Bid-YTW : 5.01 % |
| SLF.PR.H | FixedReset Ins Non | -1.16 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.35 Bid-YTW : 6.67 % |
| TRP.PR.F | FloatingReset | -1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 20.88 Evaluated at bid price : 20.88 Bid-YTW : 4.24 % |
| BMO.PR.S | FixedReset Disc | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 22.94 Evaluated at bid price : 23.64 Bid-YTW : 5.07 % |
| RY.PR.H | FixedReset Disc | -1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 23.00 Evaluated at bid price : 23.60 Bid-YTW : 4.99 % |
| MFC.PR.C | Deemed-Retractible | -1.00 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.80 Bid-YTW : 9.00 % |
| MFC.PR.Q | FixedReset Ins Non | 1.05 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.00 Bid-YTW : 5.63 % |
| PWF.PR.A | Floater | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-10-11 Maturity Price : 21.49 Evaluated at bid price : 21.75 Bid-YTW : 2.98 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BMO.PR.C | FixedReset Prem | 114,900 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-05-25 Maturity Price : 25.00 Evaluated at bid price : 25.26 Bid-YTW : 4.38 % |
| BNS.PR.Q | FixedReset Bank Non | 99,100 | YTW SCENARIO Maturity Type : Call Maturity Date : 2018-11-24 Maturity Price : 25.00 Evaluated at bid price : 24.98 Bid-YTW : 2.98 % |
| TD.PF.K | FixedReset Prem | 86,611 | YTW SCENARIO Maturity Type : Call Maturity Date : 2023-10-31 Maturity Price : 25.00 Evaluated at bid price : 25.07 Bid-YTW : 4.80 % |
| BIP.PR.F | FixedReset Prem | 74,852 | YTW SCENARIO Maturity Type : Call Maturity Date : 2023-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.06 Bid-YTW : 5.17 % |
| SLF.PR.H | FixedReset Ins Non | 66,300 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.35 Bid-YTW : 6.67 % |
| BNS.PR.Z | FixedReset Bank Non | 63,275 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.69 Bid-YTW : 4.26 % |
| There were 45 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| HSE.PR.G | FixedReset Prem | Quote: 24.43 – 25.19 Spot Rate : 0.7600 Average : 0.4468 YTW SCENARIO |
| BAM.PR.K | Floater | Quote: 17.37 – 18.32 Spot Rate : 0.9500 Average : 0.6762 YTW SCENARIO |
| IAG.PR.A | Deemed-Retractible | Quote: 21.30 – 22.02 Spot Rate : 0.7200 Average : 0.4632 YTW SCENARIO |
| BAM.PR.B | Floater | Quote: 17.50 – 18.17 Spot Rate : 0.6700 Average : 0.4484 YTW SCENARIO |
| MFC.PR.M | FixedReset Ins Non | Quote: 22.81 – 23.43 Spot Rate : 0.6200 Average : 0.4056 YTW SCENARIO |
| CU.PR.F | Perpetual-Discount | Quote: 20.31 – 20.88 Spot Rate : 0.5700 Average : 0.3788 YTW SCENARIO |