Category: Market Action

Market Action

October 23, 2020

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 0.4050 % 1,639.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4050 % 3,009.2
Floater 5.19 % 5.24 % 39,035 15.09 3 0.4050 % 1,734.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1387 % 3,530.0
SplitShare 4.80 % 4.72 % 51,523 3.55 8 -0.1387 % 4,215.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1387 % 3,289.2
Perpetual-Premium 5.30 % -2.25 % 90,081 0.09 17 0.0643 % 3,200.6
Perpetual-Discount 5.09 % 5.03 % 78,247 15.03 17 0.2216 % 3,614.9
FixedReset Disc 5.43 % 4.10 % 132,817 16.59 65 0.3277 % 2,132.0
Deemed-Retractible 5.08 % 4.86 % 118,606 15.24 22 -0.2104 % 3,494.4
FloatingReset 1.97 % 2.44 % 44,235 1.26 3 -0.0673 % 1,795.7
FixedReset Prem 5.21 % 3.16 % 277,658 0.79 14 0.0302 % 2,652.8
FixedReset Bank Non 1.94 % 2.08 % 140,781 1.25 2 0.0201 % 2,860.0
FixedReset Ins Non 5.43 % 4.17 % 80,352 16.69 22 0.1729 % 2,224.1
Performance Highlights
Issue Index Change Notes
BAM.PF.B FixedReset Disc -4.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 15.68
Evaluated at bid price : 15.68
Bid-YTW : 5.30 %
TRP.PR.D FixedReset Disc -2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 13.42
Evaluated at bid price : 13.42
Bid-YTW : 5.56 %
BAM.PR.Z FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 5.16 %
CU.PR.C FixedReset Disc -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 16.66
Evaluated at bid price : 16.66
Bid-YTW : 4.27 %
CM.PR.P FixedReset Disc -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 4.02 %
MFC.PR.J FixedReset Ins Non -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 4.21 %
IFC.PR.C FixedReset Ins Non -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 4.46 %
TD.PF.L FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 23.12
Evaluated at bid price : 24.50
Bid-YTW : 3.89 %
BAM.PF.G FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 15.82
Evaluated at bid price : 15.82
Bid-YTW : 5.12 %
PVS.PR.F SplitShare -1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 25.12
Bid-YTW : 4.86 %
TRP.PR.A FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 5.56 %
BAM.PF.F FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 16.67
Evaluated at bid price : 16.67
Bid-YTW : 5.14 %
TD.PF.J FixedReset Disc 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 4.02 %
BMO.PR.Y FixedReset Disc 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 4.02 %
CU.PR.F Perpetual-Discount 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 23.38
Evaluated at bid price : 23.88
Bid-YTW : 4.75 %
PWF.PR.P FixedReset Disc 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 10.35
Evaluated at bid price : 10.35
Bid-YTW : 4.73 %
IAF.PR.G FixedReset Ins Non 4.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 4.30 %
RY.PR.M FixedReset Disc 56.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 4.00 %
Volume Highlights
Issue Index Shares
Traded		 Notes
GWO.PR.N FixedReset Ins Non 305,550 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 10.02
Evaluated at bid price : 10.02
Bid-YTW : 4.17 %
TD.PF.A FixedReset Disc 180,550 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 3.94 %
TD.PF.F Perpetual-Premium 113,700 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-31
Maturity Price : 25.75
Evaluated at bid price : 25.97
Bid-YTW : 3.81 %
TD.PF.H FixedReset Prem 74,580 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.33
Bid-YTW : 3.44 %
BNS.PR.H FixedReset Prem 61,710 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-01-26
Maturity Price : 25.00
Evaluated at bid price : 25.45
Bid-YTW : 3.36 %
CM.PR.Q FixedReset Disc 59,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 4.07 %
There were 40 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BAM.PF.B FixedReset Disc Quote: 15.68 – 16.36
Spot Rate : 0.6800
Average : 0.4015

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 15.68
Evaluated at bid price : 15.68
Bid-YTW : 5.30 %
IFC.PR.C FixedReset Ins Non Quote: 17.10 – 17.70
Spot Rate : 0.6000
Average : 0.3730

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 4.46 %
CM.PR.P FixedReset Disc Quote: 18.05 – 18.68
Spot Rate : 0.6300
Average : 0.4331

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 4.02 %
BIK.PR.A FixedReset Prem Quote: 25.05 – 25.60
Spot Rate : 0.5500
Average : 0.3579

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 23.33
Evaluated at bid price : 25.05
Bid-YTW : 5.82 %
IFC.PR.E Deemed-Retractible Quote: 25.15 – 25.95
Spot Rate : 0.8000
Average : 0.6446

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-23
Maturity Price : 24.66
Evaluated at bid price : 25.15
Bid-YTW : 5.20 %
PVS.PR.G SplitShare Quote: 25.15 – 25.50
Spot Rate : 0.3500
Average : 0.2416

YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 25.15
Bid-YTW : 4.93 %
Market Action

October 22, 2020

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 -0.1214 % 1,633.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1214 % 2,997.1
Floater 5.21 % 5.27 % 39,645 15.04 3 -0.1214 % 1,727.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0050 % 3,534.9
SplitShare 4.80 % 4.68 % 51,812 3.55 8 -0.0050 % 4,221.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0050 % 3,293.8
Perpetual-Premium 5.29 % -1.74 % 88,220 0.09 17 0.0138 % 3,198.5
Perpetual-Discount 5.10 % 5.00 % 79,260 15.02 17 0.4329 % 3,606.9
FixedReset Disc 5.44 % 4.12 % 130,598 16.59 65 -0.3319 % 2,125.0
Deemed-Retractible 5.07 % 4.83 % 120,314 15.24 22 0.0074 % 3,501.8
FloatingReset 1.97 % 2.43 % 42,664 1.26 3 -0.0168 % 1,796.9
FixedReset Prem 5.20 % 3.27 % 266,226 0.81 14 0.1491 % 2,652.0
FixedReset Bank Non 1.94 % 2.24 % 130,322 1.25 2 0.0000 % 2,859.4
FixedReset Ins Non 5.44 % 4.15 % 80,655 16.62 22 -0.0275 % 2,220.3
Performance Highlights
Issue Index Change Notes
RY.PR.M FixedReset Disc -36.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 11.98
Evaluated at bid price : 11.98
Bid-YTW : 6.32 %
IAF.PR.G FixedReset Ins Non -4.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 4.49 %
PWF.PR.P FixedReset Disc -2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 10.15
Evaluated at bid price : 10.15
Bid-YTW : 4.83 %
NA.PR.W FixedReset Disc -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 16.86
Evaluated at bid price : 16.86
Bid-YTW : 4.26 %
BMO.PR.D FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 22.74
Evaluated at bid price : 23.10
Bid-YTW : 3.93 %
MFC.PR.F FixedReset Ins Non 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 10.83
Evaluated at bid price : 10.83
Bid-YTW : 4.13 %
BAM.PR.R FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 13.38
Evaluated at bid price : 13.38
Bid-YTW : 5.02 %
CU.PR.D Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 24.54
Evaluated at bid price : 24.80
Bid-YTW : 5.00 %
CU.PR.C FixedReset Disc 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 4.21 %
CM.PR.Q FixedReset Disc 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 4.08 %
TD.PF.I FixedReset Disc 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 22.35
Evaluated at bid price : 22.65
Bid-YTW : 3.82 %
TD.PF.D FixedReset Disc 1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 19.73
Evaluated at bid price : 19.73
Bid-YTW : 4.01 %
CU.PR.F Perpetual-Discount 6.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 23.06
Evaluated at bid price : 23.50
Bid-YTW : 4.83 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BNS.PR.G FixedReset Prem 511,872 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 25.40
Bid-YTW : 3.27 %
CM.PR.R FixedReset Disc 197,320 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 22.94
Evaluated at bid price : 23.32
Bid-YTW : 4.06 %
BMO.PR.C FixedReset Disc 99,249 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 23.61
Evaluated at bid price : 24.00
Bid-YTW : 3.93 %
MFC.PR.M FixedReset Ins Non 66,175 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 4.08 %
TD.PF.J FixedReset Disc 42,395 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 4.07 %
TRP.PR.K FixedReset Disc 29,461 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 23.66
Evaluated at bid price : 24.90
Bid-YTW : 4.92 %
There were 21 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
RY.PR.M FixedReset Disc Quote: 11.98 – 18.99
Spot Rate : 7.0100
Average : 3.9201

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 11.98
Evaluated at bid price : 11.98
Bid-YTW : 6.32 %
IAF.PR.G FixedReset Ins Non Quote: 18.25 – 19.40
Spot Rate : 1.1500
Average : 0.7255

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 4.49 %
BIP.PR.B FixedReset Disc Quote: 24.43 – 24.90
Spot Rate : 0.4700
Average : 0.3124

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 23.40
Evaluated at bid price : 24.43
Bid-YTW : 5.64 %
ELF.PR.F Perpetual-Discount Quote: 24.75 – 25.26
Spot Rate : 0.5100
Average : 0.3669

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 24.50
Evaluated at bid price : 24.75
Bid-YTW : 5.38 %
MFC.PR.M FixedReset Ins Non Quote: 18.20 – 18.60
Spot Rate : 0.4000
Average : 0.2678

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-22
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 4.08 %
IFC.PR.E Deemed-Retractible Quote: 25.00 – 25.60
Spot Rate : 0.6000
Average : 0.4742

YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2050-10-22
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 5.26 %
Market Action

October 21, 2020

PerpetualDiscounts now yield 5.07%, equivalent to 6.59% interest at the standard equivalency factor of 1.3x. Long corporates now yield 2.91%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened slightly (and perhaps spuriously) to 370bp from the 365bp reported October 14.

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 -0.1616 % 1,635.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1616 % 3,000.7
Floater 5.20 % 5.25 % 39,734 15.08 3 -0.1616 % 1,729.3
OpRet 0.00 % 0.00 % 0 0.00 0 0.2034 % 3,535.1
SplitShare 4.80 % 4.70 % 52,347 3.56 8 0.2034 % 4,221.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2034 % 3,293.9
Perpetual-Premium 5.29 % -1.66 % 88,600 0.09 17 0.0367 % 3,198.1
Perpetual-Discount 5.12 % 5.07 % 80,283 15.07 17 -0.4795 % 3,591.3
FixedReset Disc 5.42 % 4.15 % 127,947 16.65 65 0.0597 % 2,132.1
Deemed-Retractible 5.07 % 4.84 % 117,387 15.19 22 0.1683 % 3,501.5
FloatingReset 1.97 % 2.79 % 42,728 1.26 3 0.1010 % 1,797.3
FixedReset Prem 5.20 % 3.33 % 276,615 0.81 14 0.1211 % 2,648.1
FixedReset Bank Non 1.94 % 2.23 % 129,032 1.26 2 0.0402 % 2,859.4
FixedReset Ins Non 5.44 % 4.16 % 80,843 16.65 22 0.3292 % 2,220.9
Performance Highlights
Issue Index Change Notes
CU.PR.F Perpetual-Discount -8.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 21.65
Evaluated at bid price : 22.06
Bid-YTW : 5.15 %
CM.PR.Q FixedReset Disc -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 4.15 %
MFC.PR.F FixedReset Ins Non -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 10.72
Evaluated at bid price : 10.72
Bid-YTW : 4.18 %
CU.PR.D Perpetual-Discount -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 24.20
Evaluated at bid price : 24.45
Bid-YTW : 5.07 %
TD.PF.E FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 4.03 %
RY.PR.H FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 3.86 %
PVS.PR.F SplitShare 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 25.40
Bid-YTW : 4.54 %
TRP.PR.C FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 9.02
Evaluated at bid price : 9.02
Bid-YTW : 5.27 %
TD.PF.I FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 22.08
Evaluated at bid price : 22.30
Bid-YTW : 3.89 %
TRP.PR.B FixedReset Disc 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 8.45
Evaluated at bid price : 8.45
Bid-YTW : 4.92 %
CU.PR.C FixedReset Disc 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 4.27 %
SLF.PR.G FixedReset Ins Non 2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 10.89
Evaluated at bid price : 10.89
Bid-YTW : 4.11 %
IAF.PR.I FixedReset Ins Non 3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 19.99
Evaluated at bid price : 19.99
Bid-YTW : 4.21 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.Z Perpetual-Premium 35,184 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-20
Maturity Price : 26.00
Evaluated at bid price : 26.25
Bid-YTW : 2.22 %
TRP.PR.F FloatingReset 32,018 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 10.11
Evaluated at bid price : 10.11
Bid-YTW : 5.02 %
TD.PF.K FixedReset Disc 27,889 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 19.81
Evaluated at bid price : 19.81
Bid-YTW : 4.07 %
TRP.PR.B FixedReset Disc 26,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 8.45
Evaluated at bid price : 8.45
Bid-YTW : 4.92 %
TD.PF.L FixedReset Disc 23,038 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 23.23
Evaluated at bid price : 24.78
Bid-YTW : 3.83 %
BAM.PF.D Perpetual-Discount 22,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 23.06
Evaluated at bid price : 23.35
Bid-YTW : 5.28 %
There were 12 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: 22.06 – 24.27
Spot Rate : 2.2100
Average : 1.2245

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 21.65
Evaluated at bid price : 22.06
Bid-YTW : 5.15 %
CU.PR.D Perpetual-Discount Quote: 24.45 – 24.99
Spot Rate : 0.5400
Average : 0.3517

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 24.20
Evaluated at bid price : 24.45
Bid-YTW : 5.07 %
IFC.PR.A FixedReset Ins Non Quote: 12.65 – 13.10
Spot Rate : 0.4500
Average : 0.2960

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 4.47 %
TD.PF.D FixedReset Disc Quote: 19.41 – 20.00
Spot Rate : 0.5900
Average : 0.4406

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 19.41
Evaluated at bid price : 19.41
Bid-YTW : 4.08 %
IFC.PR.E Deemed-Retractible Quote: 25.15 – 25.60
Spot Rate : 0.4500
Average : 0.3362

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-21
Maturity Price : 24.66
Evaluated at bid price : 25.15
Bid-YTW : 5.19 %
PWF.PR.E Perpetual-Premium Quote: 25.10 – 25.43
Spot Rate : 0.3300
Average : 0.2290

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-20
Maturity Price : 25.00
Evaluated at bid price : 25.10
Bid-YTW : -1.20 %
Market Action

October 20, 2020

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 0.2835 % 1,638.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2835 % 3,005.6
Floater 5.19 % 5.25 % 40,173 15.08 3 0.2835 % 1,732.1
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0694 % 3,527.9
SplitShare 4.81 % 4.70 % 50,950 3.55 8 -0.0694 % 4,213.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0694 % 3,287.2
Perpetual-Premium 5.29 % -1.64 % 90,469 0.09 17 0.1056 % 3,196.9
Perpetual-Discount 5.10 % 5.05 % 83,243 15.05 17 -0.0705 % 3,608.6
FixedReset Disc 5.42 % 4.10 % 127,310 16.59 65 0.0976 % 2,130.8
Deemed-Retractible 5.08 % 4.85 % 118,403 15.19 22 -0.1938 % 3,495.6
FloatingReset 1.97 % 2.79 % 40,373 1.27 3 0.1686 % 1,795.4
FixedReset Prem 5.21 % 3.31 % 280,649 0.82 14 0.0676 % 2,644.9
FixedReset Bank Non 1.94 % 2.23 % 127,365 1.26 2 0.0000 % 2,858.3
FixedReset Ins Non 5.46 % 4.17 % 83,383 16.63 22 0.3050 % 2,213.6
Performance Highlights
Issue Index Change Notes
TRP.PR.B FixedReset Disc -2.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 8.30
Evaluated at bid price : 8.30
Bid-YTW : 5.01 %
SLF.PR.C Deemed-Retractible -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 22.93
Evaluated at bid price : 23.20
Bid-YTW : 4.82 %
TRP.PR.C FixedReset Disc -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 8.91
Evaluated at bid price : 8.91
Bid-YTW : 5.33 %
PWF.PR.Z Perpetual-Discount 1.12 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-07-31
Maturity Price : 25.25
Evaluated at bid price : 25.30
Bid-YTW : 5.05 %
BAM.PF.B FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 16.45
Evaluated at bid price : 16.45
Bid-YTW : 5.04 %
TRP.PR.G FixedReset Disc 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 15.33
Evaluated at bid price : 15.33
Bid-YTW : 5.49 %
BIP.PR.A FixedReset Disc 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 17.07
Evaluated at bid price : 17.07
Bid-YTW : 5.82 %
RY.PR.J FixedReset Disc 2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 3.98 %
MFC.PR.G FixedReset Ins Non 3.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 19.94
Evaluated at bid price : 19.94
Bid-YTW : 4.16 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.R FixedReset Disc 89,010 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 22.81
Evaluated at bid price : 23.18
Bid-YTW : 4.08 %
CM.PR.Q FixedReset Disc 63,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 4.06 %
TD.PF.G FixedReset Prem 53,878 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : 2.84 %
RY.PR.M FixedReset Disc 53,315 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 3.97 %
NA.PR.C FixedReset Disc 53,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 23.49
Evaluated at bid price : 23.81
Bid-YTW : 4.02 %
BAM.PR.Z FixedReset Disc 52,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 5.09 %
There were 26 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
EIT.PR.B SplitShare Quote: 25.21 – 26.17
Spot Rate : 0.9600
Average : 0.5792

YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2025-03-14
Maturity Price : 25.00
Evaluated at bid price : 25.21
Bid-YTW : 4.73 %
TRP.PR.C FixedReset Disc Quote: 8.91 – 9.44
Spot Rate : 0.5300
Average : 0.3483

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 8.91
Evaluated at bid price : 8.91
Bid-YTW : 5.33 %
TD.PF.E FixedReset Disc Quote: 19.85 – 20.25
Spot Rate : 0.4000
Average : 0.3031

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 4.07 %
TD.PF.K FixedReset Disc Quote: 19.86 – 20.20
Spot Rate : 0.3400
Average : 0.2487

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 4.06 %
TRP.PR.B FixedReset Disc Quote: 8.30 – 8.64
Spot Rate : 0.3400
Average : 0.2615

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 8.30
Evaluated at bid price : 8.30
Bid-YTW : 5.01 %
GWO.PR.G Deemed-Retractible Quote: 25.05 – 25.35
Spot Rate : 0.3000
Average : 0.2223

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-20
Maturity Price : 24.83
Evaluated at bid price : 25.05
Bid-YTW : 5.23 %
Market Action

October 19, 2020

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 0.0811 % 1,633.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0811 % 2,997.1
Floater 5.21 % 5.26 % 41,655 15.06 3 0.0811 % 1,727.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0793 % 3,530.4
SplitShare 4.80 % 4.72 % 51,329 3.56 8 -0.0793 % 4,216.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0793 % 3,289.5
Perpetual-Premium 5.30 % -1.56 % 93,605 0.09 17 -0.1261 % 3,193.5
Perpetual-Discount 5.10 % 5.02 % 86,504 15.25 17 -0.0851 % 3,611.2
FixedReset Disc 5.43 % 4.10 % 125,919 16.62 65 0.0541 % 2,128.8
Deemed-Retractible 5.07 % 4.86 % 115,587 15.17 22 -0.0811 % 3,502.4
FloatingReset 1.97 % 2.78 % 41,828 1.27 3 -0.1010 % 1,792.4
FixedReset Prem 5.21 % 3.50 % 282,659 0.82 14 0.0338 % 2,643.1
FixedReset Bank Non 1.94 % 2.22 % 126,417 1.26 2 0.0603 % 2,858.3
FixedReset Ins Non 5.47 % 4.19 % 76,999 16.63 22 0.2501 % 2,206.9
Performance Highlights
Issue Index Change Notes
MFC.PR.G FixedReset Ins Non -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 4.33 %
RY.PR.J FixedReset Disc -2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.32
Evaluated at bid price : 19.32
Bid-YTW : 4.09 %
IAF.PR.I FixedReset Ins Non -2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 4.35 %
CU.PR.C FixedReset Disc -2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 4.36 %
SLF.PR.E Deemed-Retractible -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 23.01
Evaluated at bid price : 23.28
Bid-YTW : 4.86 %
TRP.PR.A FixedReset Disc -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 11.72
Evaluated at bid price : 11.72
Bid-YTW : 5.57 %
SLF.PR.G FixedReset Ins Non -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 4.16 %
BIP.PR.A FixedReset Disc -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 5.91 %
BAM.PF.H FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 24.14
Evaluated at bid price : 24.95
Bid-YTW : 5.01 %
MFC.PR.Q FixedReset Ins Non 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 4.10 %
PWF.PR.T FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 4.45 %
MFC.PR.L FixedReset Ins Non 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 4.19 %
BAM.PR.T FixedReset Disc 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 13.63
Evaluated at bid price : 13.63
Bid-YTW : 5.07 %
PWF.PR.P FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 10.30
Evaluated at bid price : 10.30
Bid-YTW : 4.75 %
MFC.PR.J FixedReset Ins Non 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 4.15 %
IAF.PR.G FixedReset Ins Non 2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 4.26 %
TRP.PR.G FixedReset Disc 2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 15.10
Evaluated at bid price : 15.10
Bid-YTW : 5.57 %
IFC.PR.A FixedReset Ins Non 2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 12.65
Evaluated at bid price : 12.65
Bid-YTW : 4.47 %
TRP.PR.C FixedReset Disc 3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 9.00
Evaluated at bid price : 9.00
Bid-YTW : 5.28 %
MFC.PR.I FixedReset Ins Non 3.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 4.14 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.Q FixedReset Prem 113,300 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 25.53
Bid-YTW : 3.30 %
BNS.PR.Z FixedReset Bank Non 65,900 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.87
Bid-YTW : 2.15 %
BNS.PR.H FixedReset Prem 41,075 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-01-26
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : 3.81 %
RY.PR.M FixedReset Disc 35,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 18.77
Evaluated at bid price : 18.77
Bid-YTW : 4.01 %
NA.PR.G FixedReset Disc 30,139 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 4.26 %
BNS.PR.G FixedReset Prem 26,797 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 25.35
Bid-YTW : 3.50 %
There were 24 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 Ins Non Quote: 19.40 – 21.50
Spot Rate : 2.1000
Average : 1.4027

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 4.10 %
CU.PR.C FixedReset Disc Quote: 16.30 – 18.00
Spot Rate : 1.7000
Average : 1.1709

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 4.36 %
MFC.PR.G FixedReset Ins Non Quote: 19.20 – 20.26
Spot Rate : 1.0600
Average : 0.7293

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 4.33 %
IAF.PR.I FixedReset Ins Non Quote: 19.35 – 20.45
Spot Rate : 1.1000
Average : 0.7701

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 4.35 %
CM.PR.P FixedReset Disc Quote: 18.15 – 19.00
Spot Rate : 0.8500
Average : 0.5992

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 3.99 %
RY.PR.J FixedReset Disc Quote: 19.32 – 19.90
Spot Rate : 0.5800
Average : 0.4267

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-19
Maturity Price : 19.32
Evaluated at bid price : 19.32
Bid-YTW : 4.09 %
Market Action

October 16, 2020

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 0.0000 % 1,632.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0000 % 2,994.6
Floater 5.21 % 5.27 % 42,068 15.05 3 0.0000 % 1,725.8
OpRet 0.00 % 0.00 % 0 0.00 0 0.0744 % 3,533.2
SplitShare 4.80 % 4.69 % 49,217 3.57 8 0.0744 % 4,219.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0744 % 3,292.1
Perpetual-Premium 5.29 % -6.96 % 96,893 0.09 17 0.0390 % 3,197.6
Perpetual-Discount 5.09 % 5.04 % 89,940 15.34 17 0.1046 % 3,614.2
FixedReset Disc 5.43 % 4.16 % 126,875 16.55 65 0.1877 % 2,127.6
Deemed-Retractible 5.06 % 4.83 % 116,705 15.18 22 0.0277 % 3,505.3
FloatingReset 1.97 % 2.76 % 41,522 1.28 3 0.0505 % 1,794.2
FixedReset Prem 5.22 % 3.48 % 267,486 0.81 14 -0.0395 % 2,642.2
FixedReset Bank Non 1.94 % 2.25 % 118,452 1.27 2 0.1813 % 2,856.6
FixedReset Ins Non 5.49 % 4.24 % 77,765 16.49 22 0.1823 % 2,201.3
Performance Highlights
Issue Index Change Notes
TRP.PR.G FixedReset Disc -3.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 14.76
Evaluated at bid price : 14.76
Bid-YTW : 5.75 %
BAM.PF.J FixedReset Disc -3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 23.12
Evaluated at bid price : 24.02
Bid-YTW : 4.93 %
TRP.PR.C FixedReset Disc -2.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 8.70
Evaluated at bid price : 8.70
Bid-YTW : 5.54 %
IFC.PR.A FixedReset Ins Non -2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 12.36
Evaluated at bid price : 12.36
Bid-YTW : 4.63 %
SLF.PR.H FixedReset Ins Non -1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 15.06
Evaluated at bid price : 15.06
Bid-YTW : 4.29 %
MFC.PR.F FixedReset Ins Non -1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 10.94
Evaluated at bid price : 10.94
Bid-YTW : 4.16 %
CU.PR.G Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 23.30
Evaluated at bid price : 23.75
Bid-YTW : 4.77 %
IAF.PR.I FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 4.27 %
TD.PF.D FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 19.37
Evaluated at bid price : 19.37
Bid-YTW : 4.11 %
TRP.PR.B FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 8.50
Evaluated at bid price : 8.50
Bid-YTW : 4.95 %
NA.PR.S FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 4.21 %
BIP.PR.E FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 22.17
Evaluated at bid price : 22.50
Bid-YTW : 5.59 %
MFC.PR.M FixedReset Ins Non 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 4.16 %
NA.PR.W FixedReset Disc 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 4.22 %
RY.PR.J FixedReset Disc 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 19.82
Evaluated at bid price : 19.82
Bid-YTW : 4.01 %
TRP.PR.A FixedReset Disc 1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 11.91
Evaluated at bid price : 11.91
Bid-YTW : 5.52 %
BAM.PR.R FixedReset Disc 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 5.10 %
BAM.PF.G FixedReset Disc 2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 15.93
Evaluated at bid price : 15.93
Bid-YTW : 5.11 %
MFC.PR.G FixedReset Ins Non 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 4.18 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.G FixedReset Disc 240,360 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 14.76
Evaluated at bid price : 14.76
Bid-YTW : 5.75 %
PWF.PR.P FixedReset Disc 210,052 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 10.16
Evaluated at bid price : 10.16
Bid-YTW : 4.89 %
PWF.PR.O Perpetual-Premium 155,648 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-15
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : -9.47 %
W.PR.K FixedReset Disc 136,258 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 23.81
Evaluated at bid price : 24.68
Bid-YTW : 5.30 %
BMO.PR.C FixedReset Disc 107,309 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 23.58
Evaluated at bid price : 23.97
Bid-YTW : 3.96 %
CM.PR.R FixedReset Disc 101,586 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 22.88
Evaluated at bid price : 23.25
Bid-YTW : 4.10 %
There were 81 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
SLF.PR.H FixedReset Ins Non Quote: 15.06 – 16.00
Spot Rate : 0.9400
Average : 0.5819

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 15.06
Evaluated at bid price : 15.06
Bid-YTW : 4.29 %
BAM.PF.J FixedReset Disc Quote: 24.02 – 24.86
Spot Rate : 0.8400
Average : 0.5201

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 23.12
Evaluated at bid price : 24.02
Bid-YTW : 4.93 %
NA.PR.S FixedReset Disc Quote: 17.85 – 18.49
Spot Rate : 0.6400
Average : 0.3914

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 4.21 %
GWO.PR.P Deemed-Retractible Quote: 25.30 – 25.93
Spot Rate : 0.6300
Average : 0.4038

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-15
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : -6.17 %
TD.PF.J FixedReset Disc Quote: 20.00 – 20.63
Spot Rate : 0.6300
Average : 0.4270

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 4.12 %
MFC.PR.J FixedReset Ins Non Quote: 19.03 – 19.70
Spot Rate : 0.6700
Average : 0.4700

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-16
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 4.26 %
Market Action

October 15, 2020

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 -0.3232 % 1,632.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3232 % 2,994.6
Floater 5.21 % 5.26 % 42,687 15.08 3 -0.3232 % 1,725.8
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0347 % 3,530.6
SplitShare 4.80 % 4.69 % 51,234 3.57 8 -0.0347 % 4,216.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0347 % 3,289.7
Perpetual-Premium 5.29 % -6.08 % 93,657 0.09 17 -0.0092 % 3,196.3
Perpetual-Discount 5.10 % 5.07 % 88,138 15.32 17 -0.0584 % 3,610.5
FixedReset Disc 5.44 % 4.15 % 124,718 16.58 65 0.7071 % 2,123.6
Deemed-Retractible 5.07 % 4.84 % 114,898 15.18 22 0.1626 % 3,504.3
FloatingReset 1.97 % 2.76 % 40,985 1.28 3 -0.0337 % 1,793.3
FixedReset Prem 5.21 % 3.22 % 258,968 0.82 14 0.1835 % 2,643.2
FixedReset Bank Non 1.95 % 2.37 % 111,947 1.27 2 -0.1809 % 2,851.4
FixedReset Ins Non 5.50 % 4.24 % 75,485 16.46 22 0.2385 % 2,197.3
Performance Highlights
Issue Index Change Notes
MFC.PR.I FixedReset Ins Non -2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.34 %
BIP.PR.A FixedReset Disc -2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 5.90 %
IAF.PR.G FixedReset Ins Non -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 4.39 %
TRP.PR.B FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 8.41
Evaluated at bid price : 8.41
Bid-YTW : 5.01 %
MFC.PR.C Deemed-Retractible -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 23.09
Evaluated at bid price : 23.35
Bid-YTW : 4.85 %
IAF.PR.I FixedReset Ins Non -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 4.31 %
IFC.PR.C FixedReset Ins Non -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 16.86
Evaluated at bid price : 16.86
Bid-YTW : 4.56 %
BAM.PR.M Perpetual-Discount -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 22.49
Evaluated at bid price : 22.75
Bid-YTW : 5.25 %
BAM.PF.G FixedReset Disc -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 15.57
Evaluated at bid price : 15.57
Bid-YTW : 5.23 %
BAM.PR.R FixedReset Disc -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 5.20 %
IFC.PR.G FixedReset Ins Non -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 17.81
Evaluated at bid price : 17.81
Bid-YTW : 4.55 %
TRP.PR.K FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 23.65
Evaluated at bid price : 24.90
Bid-YTW : 4.91 %
SLF.PR.B Deemed-Retractible 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 24.46
Evaluated at bid price : 24.70
Bid-YTW : 4.89 %
IFC.PR.A FixedReset Ins Non 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 12.68
Evaluated at bid price : 12.68
Bid-YTW : 4.51 %
MFC.PR.G FixedReset Ins Non 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.29 %
MFC.PR.R FixedReset Ins Non 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 24.39
Evaluated at bid price : 24.71
Bid-YTW : 4.33 %
BAM.PF.E FixedReset Disc 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 15.11
Evaluated at bid price : 15.11
Bid-YTW : 5.17 %
PWF.PR.S Perpetual-Discount 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 23.18
Evaluated at bid price : 23.66
Bid-YTW : 5.06 %
MFC.PR.N FixedReset Ins Non 3.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 4.15 %
MFC.PR.F FixedReset Ins Non 3.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 11.12
Evaluated at bid price : 11.12
Bid-YTW : 4.09 %
SLF.PR.G FixedReset Ins Non 4.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 4.18 %
TRP.PR.G FixedReset Disc 7.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 15.30
Evaluated at bid price : 15.30
Bid-YTW : 5.54 %
RY.PR.M FixedReset Disc 56.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 4.05 %
Volume Highlights
Issue Index Shares
Traded		 Notes
GWO.PR.T Deemed-Retractible 222,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-30
Maturity Price : 25.25
Evaluated at bid price : 25.40
Bid-YTW : 5.04 %
RY.PR.P Perpetual-Premium 151,200 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-02-24
Maturity Price : 26.00
Evaluated at bid price : 26.36
Bid-YTW : 3.17 %
TD.PF.A FixedReset Disc 128,386 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 17.68
Evaluated at bid price : 17.68
Bid-YTW : 4.01 %
TD.PF.H FixedReset Prem 106,835 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.38
Bid-YTW : 3.17 %
CM.PR.R FixedReset Disc 86,943 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 22.74
Evaluated at bid price : 23.11
Bid-YTW : 4.12 %
TD.PF.L FixedReset Disc 82,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 23.21
Evaluated at bid price : 24.75
Bid-YTW : 3.86 %
There were 19 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CM.PR.Q FixedReset Disc Quote: 19.15 – 20.50
Spot Rate : 1.3500
Average : 0.9838

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 4.14 %
MFC.PR.I FixedReset Ins Non Quote: 19.50 – 20.16
Spot Rate : 0.6600
Average : 0.5241

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.34 %
PWF.PR.T FixedReset Disc Quote: 16.56 – 16.99
Spot Rate : 0.4300
Average : 0.2952

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 16.56
Evaluated at bid price : 16.56
Bid-YTW : 4.55 %
POW.PR.A Perpetual-Premium Quote: 25.31 – 25.70
Spot Rate : 0.3900
Average : 0.2696

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-14
Maturity Price : 25.00
Evaluated at bid price : 25.31
Bid-YTW : -9.20 %
RY.PR.H FixedReset Disc Quote: 18.38 – 18.66
Spot Rate : 0.2800
Average : 0.1711

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 18.38
Evaluated at bid price : 18.38
Bid-YTW : 3.91 %
MFC.PR.C Deemed-Retractible Quote: 23.35 – 23.75
Spot Rate : 0.4000
Average : 0.2946

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-15
Maturity Price : 23.09
Evaluated at bid price : 23.35
Bid-YTW : 4.85 %
Market Action

October 14, 2020

PerpetualDiscounts now yield 5.10%, equivalent to 6.63% interest at the standard equivalency factor of 1.3x. Long corporates now yield 2.96%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened slightly (and perhaps spuriously) to 365bp from the 360bp reported October 7.

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 -0.1614 % 1,637.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1614 % 3,004.4
Floater 5.20 % 5.24 % 44,446 15.10 3 -0.1614 % 1,731.4
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0248 % 3,531.8
SplitShare 4.80 % 4.64 % 52,924 3.57 8 -0.0248 % 4,217.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0248 % 3,290.8
Perpetual-Premium 5.29 % -3.05 % 92,463 0.09 17 -0.0183 % 3,196.6
Perpetual-Discount 5.09 % 5.10 % 88,730 15.31 17 0.1095 % 3,612.6
FixedReset Disc 5.48 % 4.19 % 124,073 16.55 65 -0.1375 % 2,108.7
Deemed-Retractible 5.07 % 4.83 % 106,251 15.17 22 0.1499 % 3,498.6
FloatingReset 1.97 % 2.75 % 42,668 1.28 3 -0.2353 % 1,793.9
FixedReset Prem 5.22 % 3.52 % 259,759 0.83 14 -0.2619 % 2,638.4
FixedReset Bank Non 1.94 % 2.24 % 112,555 1.28 2 0.0000 % 2,856.6
FixedReset Ins Non 5.51 % 4.24 % 77,977 16.41 22 -0.6879 % 2,192.1
Performance Highlights
Issue Index Change Notes
TRP.PR.G FixedReset Disc -6.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 5.95 %
SLF.PR.G FixedReset Ins Non -5.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 10.35
Evaluated at bid price : 10.35
Bid-YTW : 4.38 %
MFC.PR.N FixedReset Ins Non -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 17.04
Evaluated at bid price : 17.04
Bid-YTW : 4.31 %
MFC.PR.G FixedReset Ins Non -3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 4.36 %
PWF.PR.S Perpetual-Discount -2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 22.76
Evaluated at bid price : 23.03
Bid-YTW : 5.21 %
TRP.PR.A FixedReset Disc -2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 11.72
Evaluated at bid price : 11.72
Bid-YTW : 5.61 %
MFC.PR.R FixedReset Ins Non -1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 23.91
Evaluated at bid price : 24.30
Bid-YTW : 4.40 %
CM.PR.P FixedReset Disc -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 17.96
Evaluated at bid price : 17.96
Bid-YTW : 4.07 %
BAM.PR.T FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 13.37
Evaluated at bid price : 13.37
Bid-YTW : 5.22 %
TRP.PR.F FloatingReset -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 10.13
Evaluated at bid price : 10.13
Bid-YTW : 5.00 %
MFC.PR.I FixedReset Ins Non -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 4.23 %
BAM.PF.E FixedReset Disc -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 5.30 %
BIK.PR.A FixedReset Prem -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 23.32
Evaluated at bid price : 25.01
Bid-YTW : 5.82 %
SLF.PR.E Deemed-Retractible -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 4.83 %
TRP.PR.J FixedReset Prem -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 24.79
Evaluated at bid price : 25.16
Bid-YTW : 5.53 %
PWF.PR.T FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 4.53 %
SLF.PR.D Deemed-Retractible -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 4.81 %
TRP.PR.E FixedReset Disc -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 13.41
Evaluated at bid price : 13.41
Bid-YTW : 5.56 %
TRP.PR.K FixedReset Disc -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 23.55
Evaluated at bid price : 24.65
Bid-YTW : 4.97 %
TD.PF.C FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 3.93 %
CU.PR.E Perpetual-Discount 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 24.52
Evaluated at bid price : 24.79
Bid-YTW : 4.99 %
TRP.PR.B FixedReset Disc 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 8.53
Evaluated at bid price : 8.53
Bid-YTW : 4.93 %
CU.PR.D Perpetual-Discount 3.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 24.67
Evaluated at bid price : 24.95
Bid-YTW : 4.96 %
SLF.PR.C Deemed-Retractible 5.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 4.78 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.C FixedReset Disc 155,625 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 18.46
Evaluated at bid price : 18.46
Bid-YTW : 3.93 %
TD.PF.M FixedReset Disc 102,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 23.32
Evaluated at bid price : 25.15
Bid-YTW : 4.02 %
CM.PR.P FixedReset Disc 82,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 17.96
Evaluated at bid price : 17.96
Bid-YTW : 4.07 %
BAM.PF.B FixedReset Disc 58,107 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 5.13 %
GWO.PR.M Deemed-Retractible 51,854 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-13
Maturity Price : 25.00
Evaluated at bid price : 25.37
Bid-YTW : -9.19 %
TD.PF.B FixedReset Disc 42,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 17.63
Evaluated at bid price : 17.63
Bid-YTW : 4.05 %
There were 24 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
RY.PR.M FixedReset Disc Quote: 11.98 – 19.00
Spot Rate : 7.0200
Average : 5.4865

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 11.98
Evaluated at bid price : 11.98
Bid-YTW : 6.38 %
SLF.PR.G FixedReset Ins Non Quote: 10.35 – 11.50
Spot Rate : 1.1500
Average : 0.7268

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 10.35
Evaluated at bid price : 10.35
Bid-YTW : 4.38 %
CU.PR.C FixedReset Disc Quote: 16.65 – 18.00
Spot Rate : 1.3500
Average : 0.9449

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 4.31 %
CM.PR.Q FixedReset Disc Quote: 19.03 – 20.00
Spot Rate : 0.9700
Average : 0.5824

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 4.17 %
CIU.PR.A Perpetual-Discount Quote: 23.50 – 25.25
Spot Rate : 1.7500
Average : 1.3927

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 4.94 %
PWF.PR.S Perpetual-Discount Quote: 23.03 – 23.90
Spot Rate : 0.8700
Average : 0.5144

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-14
Maturity Price : 22.76
Evaluated at bid price : 23.03
Bid-YTW : 5.21 %
Market Action

October 13, 2020

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 -0.3217 % 1,639.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3217 % 3,009.2
Floater 5.19 % 5.23 % 46,271 15.12 3 -0.3217 % 1,734.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.2783 % 3,532.7
SplitShare 4.80 % 4.60 % 53,688 3.58 8 0.2783 % 4,218.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2783 % 3,291.6
Perpetual-Premium 5.29 % -3.70 % 90,872 0.09 17 0.0964 % 3,197.2
Perpetual-Discount 5.10 % 5.07 % 92,164 15.17 17 -0.4193 % 3,608.6
FixedReset Disc 5.47 % 4.18 % 124,275 16.53 65 -0.2354 % 2,111.6
Deemed-Retractible 5.08 % 4.83 % 106,494 15.13 22 -0.5154 % 3,493.4
FloatingReset 1.97 % 2.71 % 42,912 1.28 3 -0.0336 % 1,798.2
FixedReset Prem 5.21 % 3.27 % 262,056 0.82 14 0.1608 % 2,645.3
FixedReset Bank Non 1.94 % 2.24 % 112,713 1.28 2 0.0000 % 2,856.6
FixedReset Ins Non 5.47 % 4.23 % 78,435 16.47 22 0.6569 % 2,207.3
Performance Highlights
Issue Index Change Notes
RY.PR.M FixedReset Disc -35.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 11.98
Evaluated at bid price : 11.98
Bid-YTW : 6.38 %
SLF.PR.C Deemed-Retractible -6.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 21.98
Evaluated at bid price : 22.21
Bid-YTW : 5.04 %
CU.PR.D Perpetual-Discount -3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 23.73
Evaluated at bid price : 24.03
Bid-YTW : 5.15 %
CU.PR.E Perpetual-Discount -2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 24.19
Evaluated at bid price : 24.43
Bid-YTW : 5.07 %
TRP.PR.B FixedReset Disc -2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 8.40
Evaluated at bid price : 8.40
Bid-YTW : 5.01 %
SLF.PR.B Deemed-Retractible -1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 24.22
Evaluated at bid price : 24.48
Bid-YTW : 4.93 %
SLF.PR.E Deemed-Retractible -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 23.39
Evaluated at bid price : 23.68
Bid-YTW : 4.77 %
SLF.PR.A Deemed-Retractible -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 24.09
Evaluated at bid price : 24.35
Bid-YTW : 4.90 %
BMO.PR.T FixedReset Disc -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 17.13
Evaluated at bid price : 17.13
Bid-YTW : 4.18 %
SLF.PR.D Deemed-Retractible -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 4.75 %
IAF.PR.G FixedReset Ins Non 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 19.04
Evaluated at bid price : 19.04
Bid-YTW : 4.34 %
MFC.PR.Q FixedReset Ins Non 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 4.23 %
SLF.PR.G FixedReset Ins Non 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 10.90
Evaluated at bid price : 10.90
Bid-YTW : 4.15 %
IAF.PR.I FixedReset Ins Non 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 4.22 %
CM.PR.P FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 18.23
Evaluated at bid price : 18.23
Bid-YTW : 4.00 %
TRP.PR.A FixedReset Disc 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 11.99
Evaluated at bid price : 11.99
Bid-YTW : 5.48 %
MFC.PR.F FixedReset Ins Non 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 10.80
Evaluated at bid price : 10.80
Bid-YTW : 4.21 %
BIP.PR.A FixedReset Disc 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 5.78 %
IFC.PR.G FixedReset Ins Non 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.47 %
MFC.PR.G FixedReset Ins Non 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 4.20 %
NA.PR.G FixedReset Disc 2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 20.08
Evaluated at bid price : 20.08
Bid-YTW : 4.27 %
IFC.PR.A FixedReset Ins Non 3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 4.54 %
TRP.PR.G FixedReset Disc 6.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 15.21
Evaluated at bid price : 15.21
Bid-YTW : 5.57 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PVS.PR.I SplitShare 42,275 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 4.60 %
TRP.PR.G FixedReset Disc 31,650 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 15.21
Evaluated at bid price : 15.21
Bid-YTW : 5.57 %
CM.PR.T FixedReset Disc 28,225 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 23.10
Evaluated at bid price : 24.45
Bid-YTW : 3.98 %
BAM.PR.X FixedReset Disc 23,278 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 11.13
Evaluated at bid price : 11.13
Bid-YTW : 5.05 %
RY.PR.Z FixedReset Disc 21,905 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 18.18
Evaluated at bid price : 18.18
Bid-YTW : 3.89 %
PWF.PR.O Perpetual-Premium 21,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-12
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : -10.02 %
There were 7 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
RY.PR.M FixedReset Disc Quote: 11.98 – 18.95
Spot Rate : 6.9700
Average : 3.8051

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 11.98
Evaluated at bid price : 11.98
Bid-YTW : 6.38 %
CIU.PR.A Perpetual-Discount Quote: 23.53 – 25.25
Spot Rate : 1.7200
Average : 1.0009

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 23.23
Evaluated at bid price : 23.53
Bid-YTW : 4.93 %
SLF.PR.C Deemed-Retractible Quote: 22.21 – 23.65
Spot Rate : 1.4400
Average : 0.7927

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 21.98
Evaluated at bid price : 22.21
Bid-YTW : 5.04 %
CU.PR.D Perpetual-Discount Quote: 24.03 – 24.96
Spot Rate : 0.9300
Average : 0.5297

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 23.73
Evaluated at bid price : 24.03
Bid-YTW : 5.15 %
TRP.PR.A FixedReset Disc Quote: 11.99 – 12.95
Spot Rate : 0.9600
Average : 0.5605

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 11.99
Evaluated at bid price : 11.99
Bid-YTW : 5.48 %
BAM.PF.A FixedReset Disc Quote: 17.50 – 18.30
Spot Rate : 0.8000
Average : 0.5417

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-13
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 5.16 %
Market Action

October 9, 2020

Jobs, jobs, jobs!

Canada’s economy added 378,000 new jobs in September, Statistics Canada says, almost all of which were full-time positions.

September’s job gains mean that the job market is now within 720,000 positions of where it was in February, before the advent of COVID-19 in Canada.
…
September’s hiring was enough to push the jobless rate down to 9 per cent. For context, in February, Canada’s unemployment rate was 5.6 per cent, before COVID-19 walloped the economy, and pushed it up to a high of 13.7 per cent in May, the highest rate on record. It has fallen steadily in each of the four months since then.

… but in Ontario:

Ontario has ordered new sweeping restrictions in the COVID-19 hot spots of Toronto, Ottawa and Peel Region in the face of “alarming” growth in coronavirus cases and hospitalizations, a decision being met with relief from health care leaders but scorn by the business community.

With the province’s COVID-19 cases hitting a daily record high of 939, Premier Doug Ford’s government announced that new restrictions will take effect Saturday at 12:01 am. The province is prohibiting indoor dining and drink service at bars, restaurants and nightclubs in the three regions, as well as shuttering indoor gyms, cinemas, casinos and performing arts venues, for at least 28 days.

The province is also limiting team sports to training sessions only, and beginning on Tuesday, capping wedding receptions at 10 people indoors and 25 outdoors. The new limits do not apply to schools, child care centres or places of worship.

Andrew Coyne in the Globe points out:

Is there a way to square that circle – to raise taxes, without hurting incentives to work, save and invest? Yes, there is. Two, in fact. The first is to broaden the tax base by ending the many preferences inserted in the tax laws over the years on behalf of this or that industry or group, for particular types of income or investment.

Every year, the Finance Department issues a list of these “tax expenditures,” together with their estimated cost to the Treasury. The lower tax rate for small business, for example, costs about $5-billion annually; the exemption for employee health and dental benefits, another $3-billion; while the non-taxation of capital gains on principal residences drains fully $6-billion from federal revenues every year.
…
And the other? Raise the GST. Each percentage point adds about $7-billion to the treasury, without harm, since the tax is not linked to income, to incentives to earn it. With offsetting increases in the GST tax credit, poor families would be spared any impact.

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 0.2418 % 1,645.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2418 % 3,018.9
Floater 5.17 % 5.21 % 47,850 15.16 3 0.2418 % 1,739.8
OpRet 0.00 % 0.00 % 0 0.00 0 0.1792 % 3,522.9
SplitShare 4.81 % 4.76 % 54,223 3.59 8 0.1792 % 4,207.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1792 % 3,282.5
Perpetual-Premium 5.30 % -6.67 % 91,203 0.09 17 0.0298 % 3,194.1
Perpetual-Discount 5.08 % 5.06 % 92,292 15.33 17 0.0291 % 3,623.8
FixedReset Disc 5.46 % 4.18 % 125,906 16.57 65 -0.1887 % 2,116.6
Deemed-Retractible 5.06 % 4.83 % 106,996 15.18 22 -0.5638 % 3,511.5
FloatingReset 1.97 % 2.60 % 42,511 1.30 3 -0.1007 % 1,798.8
FixedReset Prem 5.22 % 3.52 % 264,545 0.83 14 -0.0395 % 2,641.1
FixedReset Bank Non 1.94 % 2.22 % 113,326 1.29 2 -0.0402 % 2,856.6
FixedReset Ins Non 5.51 % 4.24 % 79,109 16.46 22 -0.1267 % 2,192.9
Performance Highlights
Issue Index Change Notes
TRP.PR.G FixedReset Disc -6.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 5.94 %
MFC.PR.F FixedReset Ins Non -3.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 10.62
Evaluated at bid price : 10.62
Bid-YTW : 4.28 %
BAM.PR.X FixedReset Disc -2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 11.04
Evaluated at bid price : 11.04
Bid-YTW : 5.09 %
CCS.PR.C Deemed-Retractible -2.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 23.74
Evaluated at bid price : 24.05
Bid-YTW : 5.22 %
SLF.PR.G FixedReset Ins Non -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 10.77
Evaluated at bid price : 10.77
Bid-YTW : 4.20 %
MFC.PR.B Deemed-Retractible -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 23.71
Evaluated at bid price : 24.02
Bid-YTW : 4.87 %
IFC.PR.A FixedReset Ins Non -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 12.23
Evaluated at bid price : 12.23
Bid-YTW : 4.68 %
SLF.PR.I FixedReset Ins Non -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 4.26 %
GWO.PR.P Deemed-Retractible -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 24.80
Evaluated at bid price : 25.02
Bid-YTW : 5.43 %
MFC.PR.Q FixedReset Ins Non -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 4.27 %
IAF.PR.B Deemed-Retractible -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 23.95
Evaluated at bid price : 24.20
Bid-YTW : 4.77 %
POW.PR.B Perpetual-Discount -1.18 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-08
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : -5.36 %
GWO.PR.I Deemed-Retractible -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 4.80 %
PWF.PR.P FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 10.14
Evaluated at bid price : 10.14
Bid-YTW : 4.89 %
TD.PF.E FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.18 %
RY.PR.M FixedReset Disc -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 18.69
Evaluated at bid price : 18.69
Bid-YTW : 4.06 %
MFC.PR.C Deemed-Retractible -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 23.33
Evaluated at bid price : 23.61
Bid-YTW : 4.79 %
BMO.PR.W FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 4.03 %
SLF.PR.D Deemed-Retractible -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 23.48
Evaluated at bid price : 23.75
Bid-YTW : 4.70 %
NA.PR.G FixedReset Disc -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 19.66
Evaluated at bid price : 19.66
Bid-YTW : 4.36 %
IFC.PR.G FixedReset Ins Non -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 17.77
Evaluated at bid price : 17.77
Bid-YTW : 4.55 %
BAM.PF.D Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 23.36
Evaluated at bid price : 23.65
Bid-YTW : 5.20 %
BAM.PF.F FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 5.22 %
MFC.PR.H FixedReset Ins Non 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 4.24 %
BMO.PR.S FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 18.14
Evaluated at bid price : 18.14
Bid-YTW : 4.08 %
BMO.PR.T FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 4.12 %
BAM.PR.Z FixedReset Disc 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 17.12
Evaluated at bid price : 17.12
Bid-YTW : 5.19 %
BAM.PF.B FixedReset Disc 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 16.10
Evaluated at bid price : 16.10
Bid-YTW : 5.18 %
BAM.PR.R FixedReset Disc 1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 5.16 %
MFC.PR.N FixedReset Ins Non 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 17.68
Evaluated at bid price : 17.68
Bid-YTW : 4.14 %
TRP.PR.A FixedReset Disc 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 5.57 %
MFC.PR.I FixedReset Ins Non 3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 20.11
Evaluated at bid price : 20.11
Bid-YTW : 4.20 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.R FixedReset Prem 89,983 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-24
Maturity Price : 25.00
Evaluated at bid price : 25.59
Bid-YTW : 3.58 %
BMO.PR.D FixedReset Disc 86,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 22.28
Evaluated at bid price : 22.60
Bid-YTW : 4.04 %
MFC.PR.N FixedReset Ins Non 70,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 17.68
Evaluated at bid price : 17.68
Bid-YTW : 4.14 %
TD.PF.G FixedReset Prem 64,675 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.27
Bid-YTW : 2.90 %
BMO.PR.B FixedReset Prem 61,180 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-02-25
Maturity Price : 25.00
Evaluated at bid price : 25.60
Bid-YTW : 3.52 %
RY.PR.Q FixedReset Prem 60,626 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : 3.34 %
There were 28 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CU.PR.C FixedReset Disc Quote: 16.60 – 18.00
Spot Rate : 1.4000
Average : 0.8851

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 4.32 %
RY.PR.O Perpetual-Premium Quote: 26.35 – 27.38
Spot Rate : 1.0300
Average : 0.5863

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-11-24
Maturity Price : 26.00
Evaluated at bid price : 26.35
Bid-YTW : -1.25 %
TRP.PR.G FixedReset Disc Quote: 14.26 – 15.54
Spot Rate : 1.2800
Average : 0.9208

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 5.94 %
MFC.PR.Q FixedReset Ins Non Quote: 18.75 – 19.59
Spot Rate : 0.8400
Average : 0.5565

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 4.27 %
TD.PF.D FixedReset Disc Quote: 18.98 – 19.59
Spot Rate : 0.6100
Average : 0.4150

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 18.98
Evaluated at bid price : 18.98
Bid-YTW : 4.19 %
GWO.PR.P Deemed-Retractible Quote: 25.02 – 25.50
Spot Rate : 0.4800
Average : 0.3084

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-10-09
Maturity Price : 24.80
Evaluated at bid price : 25.02
Bid-YTW : 5.43 %