Category: Market Action

Market Action

November 25, 2019

OK, so here’s some consumer advice …

Back in July, I started getting notifications from Enbridge Gas that my on-line bill was ready … just a bit of spam, I thought. No problem, I’ll ignore it and when my real bill comes by snail mail, I’ll throw it in the pile and pay it during my monthly bill-paying frenzy. No problem.

But the bill didn’t come. And it didn’t come again and it didn’t come again.

So in October I figured there was a definite problem and asked their social media team on Facebook how to switch it back. They told me:

Thanks for the question. Go into My Account, and then go to your Bill Delivery preferences and switch there. That should do it.

… and I subsequently told them:

There does not appear to be any such option.

I attempted to update my billing preferences via [screenshot 1].

This screen claims I am enrolled in eBill – I have no recollection of enrolling in this and it was certainly never intended. However, I clicked “Update Billing Preferences” and arrived at [screenshot 2, below].

Ha-ha! So much for easy on-line account management! I have to call a number. After guessing my way through a very poorly designed menu, I eventually spoke to somebody who identified herself only as “Deb”. She claimed not to have a rep ID number or anything along the lines of what was expected.

“Deb” claims that paper billing is no longer an option. She disclaims any knowledge of what Enbridge has told me on its own website and on Facebook.

What is going on?

enbridge_1
Click for Big
enbridge_2
Click for Big

They asked me to contact them privately and I refused. Why should I? Why was the answer such a big secret?

Eventually, after I made it clear to them that I was going to make a public nuisance of myself, they gave me the real answer:

James, if you are in an area formerly served by Union Gas, please call 1-877-362-7434. If you are in an Enbridge Gas area, please call 416-495-6155.

So I called the number … and it turned out to be the number of their internal ombudsman! I left a message … and nothing happened. So about ten days later, I left another message.

Today, a very pleasant and weary-sounding woman from Enbridge told me that my account had been reset to snail-mail delivery, past bills would be re-printed and sent to me and all late-fees would be cancelled. She apologized for the delay – apparently they have been getting a lot of calls.

So it seems to me that Enbridge was trying to pull a fast one. Change everybody’s billing option to electronic without notification and make everybody who liked things just fine as they were go through an arduous and incomprehensible process (ending up with the ombudsman!) to get it reset.

Pretty sleazy move, Enbridge.

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 0.2885 % 1,975.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2885 % 3,624.0
Floater 6.12 % 6.30 % 43,725 13.38 4 0.2885 % 2,088.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.0958 % 3,420.8
SplitShare 4.65 % 4.44 % 48,029 3.88 7 0.0958 % 4,085.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0958 % 3,187.4
Perpetual-Premium 5.54 % -18.42 % 49,130 0.09 10 0.1173 % 3,046.7
Perpetual-Discount 5.29 % 5.41 % 68,600 14.77 25 0.1934 % 3,263.6
FixedReset Disc 5.56 % 5.64 % 182,243 14.38 66 0.1177 % 2,113.4
Deemed-Retractible 5.14 % 5.28 % 67,575 14.81 27 0.1744 % 3,212.7
FloatingReset 6.25 % 6.79 % 116,594 12.72 2 -0.8550 % 2,438.0
FixedReset Prem 5.11 % 3.63 % 127,828 1.58 20 0.0936 % 2,627.6
FixedReset Bank Non 1.96 % 4.07 % 71,423 2.12 3 0.1791 % 2,702.3
FixedReset Ins Non 5.41 % 5.61 % 119,526 14.41 22 0.1015 % 2,156.7
Performance Highlights
Issue Index Change Notes
TRP.PR.F FloatingReset -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 13.47
Evaluated at bid price : 13.47
Bid-YTW : 6.79 %
MFC.PR.J FixedReset Ins Non -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.74 %
IFC.PR.A FixedReset Ins Non -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 14.15
Evaluated at bid price : 14.15
Bid-YTW : 5.87 %
PWF.PR.P FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 12.85
Evaluated at bid price : 12.85
Bid-YTW : 6.01 %
RY.PR.S FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 18.98
Evaluated at bid price : 18.98
Bid-YTW : 5.45 %
IFC.PR.C FixedReset Ins Non 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 5.82 %
TD.PF.C FixedReset Disc 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 17.11
Evaluated at bid price : 17.11
Bid-YTW : 5.56 %
BAM.PR.R FixedReset Disc 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 15.48
Evaluated at bid price : 15.48
Bid-YTW : 6.13 %
MFC.PR.M FixedReset Ins Non 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 17.32
Evaluated at bid price : 17.32
Bid-YTW : 5.60 %
BAM.PF.B FixedReset Disc 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 5.87 %
BIP.PR.F FixedReset Disc 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 22.03
Evaluated at bid price : 22.50
Bid-YTW : 5.74 %
TRP.PR.B FixedReset Disc 2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 11.52
Evaluated at bid price : 11.52
Bid-YTW : 6.11 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.D FixedReset Disc 84,675 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 21.23
Evaluated at bid price : 21.23
Bid-YTW : 5.49 %
BMO.PR.B FixedReset Prem 57,227 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-02-25
Maturity Price : 25.00
Evaluated at bid price : 25.42
Bid-YTW : 4.08 %
BAM.PF.E FixedReset Disc 55,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.29 %
IAF.PR.G FixedReset Ins Non 37,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 19.44
Evaluated at bid price : 19.44
Bid-YTW : 5.58 %
TRP.PR.A FixedReset Disc 33,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 13.71
Evaluated at bid price : 13.71
Bid-YTW : 6.37 %
CM.PR.R FixedReset Disc 29,195 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 5.67 %
There were 39 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.F FloatingReset Quote: 13.47 – 13.94
Spot Rate : 0.4700
Average : 0.3631

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 13.47
Evaluated at bid price : 13.47
Bid-YTW : 6.79 %
BAM.PF.E FixedReset Disc Quote: 16.50 – 16.75
Spot Rate : 0.2500
Average : 0.1604

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.29 %
RY.PR.S FixedReset Disc Quote: 18.98 – 19.20
Spot Rate : 0.2200
Average : 0.1409

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 18.98
Evaluated at bid price : 18.98
Bid-YTW : 5.45 %
MFC.PR.Q FixedReset Ins Non Quote: 18.63 – 18.85
Spot Rate : 0.2200
Average : 0.1487

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 18.63
Evaluated at bid price : 18.63
Bid-YTW : 5.64 %
BAM.PF.B FixedReset Disc Quote: 18.30 – 18.57
Spot Rate : 0.2700
Average : 0.2050

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 5.87 %
TRP.PR.D FixedReset Disc Quote: 16.05 – 16.38
Spot Rate : 0.3300
Average : 0.2668

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-25
Maturity Price : 16.05
Evaluated at bid price : 16.05
Bid-YTW : 6.14 %
Market Action

November 22, 2025

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 0.4906 % 1,969.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4906 % 3,613.5
Floater 6.14 % 6.33 % 45,451 13.35 4 0.4906 % 2,082.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.1298 % 3,417.5
SplitShare 4.66 % 4.44 % 49,684 3.89 7 0.1298 % 4,081.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1298 % 3,184.4
Perpetual-Premium 5.54 % -20.15 % 45,491 0.09 10 0.0313 % 3,043.1
Perpetual-Discount 5.30 % 5.43 % 69,577 14.74 25 0.1522 % 3,257.3
FixedReset Disc 5.57 % 5.59 % 177,088 14.42 66 0.2360 % 2,110.9
Deemed-Retractible 5.15 % 5.59 % 62,612 7.77 27 0.0732 % 3,207.1
FloatingReset 6.20 % 6.68 % 118,172 12.86 2 0.1862 % 2,459.0
FixedReset Prem 5.11 % 3.63 % 132,747 1.59 20 0.0156 % 2,625.1
FixedReset Bank Non 1.96 % 4.19 % 73,766 2.12 3 0.1103 % 2,697.5
FixedReset Ins Non 5.42 % 7.91 % 123,230 7.83 22 0.4749 % 2,154.5
Performance Highlights
Issue Index Change Notes
BIP.PR.F FixedReset Disc -1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 21.69
Evaluated at bid price : 22.02
Bid-YTW : 5.87 %
TRP.PR.B FixedReset Disc -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 6.20 %
BAM.PF.A FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.76 %
BAM.PR.M Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 21.54
Evaluated at bid price : 21.80
Bid-YTW : 5.52 %
MFC.PR.G FixedReset Ins Non 1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.99
Bid-YTW : 7.70 %
BAM.PR.T FixedReset Disc 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 15.39
Evaluated at bid price : 15.39
Bid-YTW : 6.17 %
BIP.PR.A FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 19.98
Evaluated at bid price : 19.98
Bid-YTW : 6.39 %
EMA.PR.F FixedReset Disc 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 6.17 %
HSE.PR.E FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.11 %
MFC.PR.N FixedReset Ins Non 1.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.77
Bid-YTW : 8.71 %
MFC.PR.Q FixedReset Ins Non 1.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.76
Bid-YTW : 7.91 %
PWF.PR.A Floater 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 5.93 %
HSE.PR.C FixedReset Disc 2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 7.11 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.A FixedReset Disc 140,853 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 13.72
Evaluated at bid price : 13.72
Bid-YTW : 6.29 %
TRP.PR.F FloatingReset 113,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 13.67
Evaluated at bid price : 13.67
Bid-YTW : 6.68 %
TD.PF.L FixedReset Disc 66,271 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 22.86
Evaluated at bid price : 24.11
Bid-YTW : 5.01 %
TD.PF.M FixedReset Disc 60,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 23.05
Evaluated at bid price : 24.63
Bid-YTW : 5.08 %
RY.PR.H FixedReset Disc 31,996 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 17.33
Evaluated at bid price : 17.33
Bid-YTW : 5.38 %
CM.PR.S FixedReset Disc 30,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 18.14
Evaluated at bid price : 18.14
Bid-YTW : 5.63 %
There were 29 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IAF.PR.G FixedReset Ins Non Quote: 19.37 – 19.87
Spot Rate : 0.5000
Average : 0.3239

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.37
Bid-YTW : 7.46 %
CU.PR.C FixedReset Disc Quote: 16.60 – 17.24
Spot Rate : 0.6400
Average : 0.4863

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 5.75 %
MFC.PR.I FixedReset Ins Non Quote: 19.00 – 19.40
Spot Rate : 0.4000
Average : 0.2569

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.79 %
BNS.PR.Z FixedReset Bank Non Quote: 24.11 – 24.50
Spot Rate : 0.3900
Average : 0.2685

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.11
Bid-YTW : 4.19 %
BIP.PR.F FixedReset Disc Quote: 22.02 – 22.40
Spot Rate : 0.3800
Average : 0.2614

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 21.69
Evaluated at bid price : 22.02
Bid-YTW : 5.87 %
CIU.PR.A Perpetual-Discount Quote: 21.55 – 21.90
Spot Rate : 0.3500
Average : 0.2444

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-22
Maturity Price : 21.28
Evaluated at bid price : 21.55
Bid-YTW : 5.35 %
Market Action

November 21, 2019

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 0.0446 % 1,959.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0446 % 3,595.9
Floater 6.17 % 6.32 % 46,278 13.36 4 0.0446 % 2,072.3
OpRet 0.00 % 0.00 % 0 0.00 0 0.2415 % 3,413.1
SplitShare 4.66 % 4.50 % 49,601 3.89 7 0.2415 % 4,076.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2415 % 3,180.2
Perpetual-Premium 5.55 % -19.90 % 45,996 0.09 10 0.0431 % 3,042.2
Perpetual-Discount 5.31 % 5.43 % 69,269 14.73 25 0.0242 % 3,252.4
FixedReset Disc 5.58 % 5.62 % 180,642 14.38 66 0.2291 % 2,105.9
Deemed-Retractible 5.16 % 5.58 % 63,667 7.77 27 0.0842 % 3,204.8
FloatingReset 6.21 % 6.69 % 109,373 12.85 2 -0.2600 % 2,454.4
FixedReset Prem 5.11 % 3.68 % 128,670 1.59 20 0.2639 % 2,624.7
FixedReset Bank Non 1.96 % 4.01 % 74,003 2.13 3 0.2073 % 2,694.5
FixedReset Ins Non 5.44 % 8.02 % 115,149 7.84 22 0.2968 % 2,144.3
Performance Highlights
Issue Index Change Notes
SLF.PR.J FloatingReset -1.49 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.20
Bid-YTW : 10.99 %
BAM.PR.T FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 15.21
Evaluated at bid price : 15.21
Bid-YTW : 6.24 %
BAM.PF.B FixedReset Disc 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 18.18
Evaluated at bid price : 18.18
Bid-YTW : 5.87 %
TRP.PR.B FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 11.34
Evaluated at bid price : 11.34
Bid-YTW : 6.12 %
MFC.PR.I FixedReset Ins Non 1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.79 %
BMO.PR.Y FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 19.06
Evaluated at bid price : 19.06
Bid-YTW : 5.50 %
HSE.PR.G FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 17.66
Evaluated at bid price : 17.66
Bid-YTW : 7.19 %
EMA.PR.C FixedReset Disc 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.01 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.H FixedReset Disc 126,496 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 17.24
Evaluated at bid price : 17.24
Bid-YTW : 5.41 %
POW.PR.D Perpetual-Discount 122,174 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 22.77
Evaluated at bid price : 23.05
Bid-YTW : 5.48 %
MFC.PR.B Deemed-Retractible 119,520 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.15
Bid-YTW : 6.16 %
TRP.PR.J FixedReset Prem 76,370 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.80
Bid-YTW : 3.26 %
W.PR.M FixedReset Prem 52,029 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-15
Maturity Price : 25.00
Evaluated at bid price : 25.94
Bid-YTW : 3.45 %
TD.PF.D FixedReset Disc 51,241 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 19.17
Evaluated at bid price : 19.17
Bid-YTW : 5.59 %
There were 41 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BAM.PR.T FixedReset Disc Quote: 15.21 – 15.74
Spot Rate : 0.5300
Average : 0.3470

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 15.21
Evaluated at bid price : 15.21
Bid-YTW : 6.24 %
PWF.PR.A Floater Quote: 11.52 – 12.05
Spot Rate : 0.5300
Average : 0.3783

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 11.52
Evaluated at bid price : 11.52
Bid-YTW : 6.05 %
IFC.PR.C FixedReset Ins Non Quote: 17.54 – 18.00
Spot Rate : 0.4600
Average : 0.3182

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.54
Bid-YTW : 8.50 %
HSE.PR.C FixedReset Disc Quote: 16.15 – 16.54
Spot Rate : 0.3900
Average : 0.2652

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 7.26 %
MFC.PR.L FixedReset Ins Non Quote: 16.60 – 17.00
Spot Rate : 0.4000
Average : 0.2999

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.60
Bid-YTW : 8.76 %
BIP.PR.A FixedReset Disc Quote: 19.72 – 20.07
Spot Rate : 0.3500
Average : 0.2612

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-21
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 6.47 %
Market Action

November 20, 2019

PerpetualDiscounts now yield 5.43%, equivalent to 7.06% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.36%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened to 370bp from the 360bp reported November 13.

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 -0.3779 % 1,958.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3779 % 3,594.3
Floater 6.17 % 6.33 % 45,304 13.35 4 -0.3779 % 2,071.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.0785 % 3,404.9
SplitShare 4.63 % 4.59 % 47,986 3.85 7 0.0785 % 4,066.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0785 % 3,172.6
Perpetual-Premium 5.55 % -20.57 % 46,522 0.09 10 0.1372 % 3,040.9
Perpetual-Discount 5.31 % 5.43 % 70,044 14.73 25 0.0744 % 3,251.6
FixedReset Disc 5.60 % 5.63 % 182,382 14.37 66 -0.1566 % 2,101.1
Deemed-Retractible 5.16 % 5.59 % 63,764 7.77 27 0.0858 % 3,202.1
FloatingReset 6.19 % 6.76 % 108,601 12.77 2 -0.5908 % 2,460.8
FixedReset Prem 5.13 % 3.84 % 119,110 1.60 20 -0.1328 % 2,617.8
FixedReset Bank Non 1.97 % 4.06 % 74,107 2.13 3 0.0000 % 2,689.0
FixedReset Ins Non 5.46 % 8.13 % 121,078 7.84 22 -0.5259 % 2,138.0
Performance Highlights
Issue Index Change Notes
EMA.PR.C FixedReset Disc -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.10 %
SLF.PR.G FixedReset Ins Non -1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.35
Bid-YTW : 10.48 %
MFC.PR.F FixedReset Ins Non -1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.35
Bid-YTW : 11.19 %
IFC.PR.G FixedReset Ins Non -1.50 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.42
Bid-YTW : 8.45 %
BIK.PR.A FixedReset Prem -1.36 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.40
Bid-YTW : 5.69 %
MFC.PR.K FixedReset Ins Non -1.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.32
Bid-YTW : 8.60 %
PWF.PR.A Floater -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 11.58
Evaluated at bid price : 11.58
Bid-YTW : 6.02 %
TD.PF.D FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.63 %
BIP.PR.F FixedReset Disc -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 21.89
Evaluated at bid price : 22.30
Bid-YTW : 5.79 %
BAM.PF.A FixedReset Disc -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.82 %
CU.PR.C FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 16.62
Evaluated at bid price : 16.62
Bid-YTW : 5.74 %
TD.PF.C FixedReset Disc 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 16.91
Evaluated at bid price : 16.91
Bid-YTW : 5.56 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.F FloatingReset 172,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 13.52
Evaluated at bid price : 13.52
Bid-YTW : 6.76 %
TRP.PR.A FixedReset Disc 167,802 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 6.29 %
BMO.PR.E FixedReset Disc 129,127 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.50 %
TRP.PR.D FixedReset Disc 95,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 15.97
Evaluated at bid price : 15.97
Bid-YTW : 6.12 %
BMO.PR.F FixedReset Disc 48,390 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 23.00
Evaluated at bid price : 24.46
Bid-YTW : 5.06 %
IFC.PR.G FixedReset Ins Non 40,200 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.42
Bid-YTW : 8.45 %
There were 40 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
EML.PR.A FixedReset Ins Non Quote: 25.65 – 26.12
Spot Rate : 0.4700
Average : 0.3110

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 25.65
Bid-YTW : 4.24 %
EMA.PR.C FixedReset Disc Quote: 17.60 – 17.98
Spot Rate : 0.3800
Average : 0.2678

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.10 %
IFC.PR.G FixedReset Ins Non Quote: 18.42 – 18.80
Spot Rate : 0.3800
Average : 0.2694

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.42
Bid-YTW : 8.45 %
PVS.PR.F SplitShare Quote: 25.50 – 25.89
Spot Rate : 0.3900
Average : 0.2885

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2024-09-30
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : 4.59 %
CM.PR.Q FixedReset Disc Quote: 18.11 – 18.39
Spot Rate : 0.2800
Average : 0.1829

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 5.90 %
BMO.PR.Y FixedReset Disc Quote: 18.83 – 19.15
Spot Rate : 0.3200
Average : 0.2288

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-20
Maturity Price : 18.83
Evaluated at bid price : 18.83
Bid-YTW : 5.56 %
Market Action

November 19, 2019

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 -0.3764 % 1,966.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3764 % 3,607.9
Floater 6.15 % 6.30 % 47,139 13.40 4 -0.3764 % 2,079.3
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1399 % 3,402.2
SplitShare 4.63 % 4.62 % 48,293 3.85 7 -0.1399 % 4,063.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1399 % 3,170.1
Perpetual-Premium 5.56 % -18.60 % 48,440 0.09 10 0.0274 % 3,036.7
Perpetual-Discount 5.32 % 5.43 % 69,995 14.74 25 -0.0208 % 3,249.1
FixedReset Disc 5.59 % 5.62 % 180,578 14.43 66 -0.1531 % 2,104.4
Deemed-Retractible 5.16 % 5.61 % 64,257 7.77 27 0.0219 % 3,199.3
FloatingReset 6.16 % 6.72 % 100,543 12.81 2 0.7440 % 2,475.4
FixedReset Prem 5.12 % 3.79 % 120,476 1.60 20 -0.0312 % 2,621.3
FixedReset Bank Non 1.97 % 4.18 % 74,798 2.13 3 -0.2069 % 2,689.0
FixedReset Ins Non 5.43 % 8.00 % 111,490 7.86 22 -0.0967 % 2,149.3
Performance Highlights
Issue Index Change Notes
TD.PF.C FixedReset Disc -2.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 5.64 %
HSE.PR.E FixedReset Disc -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 7.25 %
CU.PR.C FixedReset Disc -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.45
Evaluated at bid price : 16.45
Bid-YTW : 5.80 %
HSE.PR.A FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 11.16
Evaluated at bid price : 11.16
Bid-YTW : 7.10 %
PWF.PR.A Floater -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 11.71
Evaluated at bid price : 11.71
Bid-YTW : 5.95 %
GWO.PR.N FixedReset Ins Non -1.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.53
Bid-YTW : 10.04 %
EIT.PR.A SplitShare -1.13 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 25.46
Bid-YTW : 4.57 %
BAM.PR.T FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 15.38
Evaluated at bid price : 15.38
Bid-YTW : 6.17 %
HSE.PR.G FixedReset Disc -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 17.39
Evaluated at bid price : 17.39
Bid-YTW : 7.30 %
BAM.PR.R FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 15.22
Evaluated at bid price : 15.22
Bid-YTW : 6.17 %
HSE.PR.C FixedReset Disc -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.34
Evaluated at bid price : 16.34
Bid-YTW : 7.18 %
IFC.PR.C FixedReset Ins Non 1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.70
Bid-YTW : 8.37 %
TRP.PR.A FixedReset Disc 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 6.27 %
TD.PF.E FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 5.59 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PWF.PR.S Perpetual-Discount 178,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 22.13
Evaluated at bid price : 22.13
Bid-YTW : 5.48 %
TD.PF.M FixedReset Disc 121,893 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 23.04
Evaluated at bid price : 24.60
Bid-YTW : 5.09 %
TRP.PR.D FixedReset Disc 116,721 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.04
Evaluated at bid price : 16.04
Bid-YTW : 6.09 %
BMO.PR.D FixedReset Disc 94,578 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 5.46 %
RY.PR.H FixedReset Disc 73,897 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 5.40 %
EMA.PR.E Perpetual-Discount 65,978 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 5.38 %
There were 48 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.C FixedReset Disc Quote: 16.65 – 17.00
Spot Rate : 0.3500
Average : 0.2146

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 5.64 %
EIT.PR.A SplitShare Quote: 25.46 – 25.96
Spot Rate : 0.5000
Average : 0.3768

YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 25.46
Bid-YTW : 4.57 %
CU.PR.C FixedReset Disc Quote: 16.45 – 16.88
Spot Rate : 0.4300
Average : 0.3261

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.45
Evaluated at bid price : 16.45
Bid-YTW : 5.80 %
TD.PF.L FixedReset Disc Quote: 23.96 – 24.18
Spot Rate : 0.2200
Average : 0.1299

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 22.80
Evaluated at bid price : 23.96
Bid-YTW : 5.04 %
CU.PR.I FixedReset Prem Quote: 25.33 – 25.63
Spot Rate : 0.3000
Average : 0.2125

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.33
Bid-YTW : 3.05 %
BAM.PF.C Perpetual-Discount Quote: 21.91 – 22.18
Spot Rate : 0.2700
Average : 0.1830

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 21.91
Evaluated at bid price : 21.91
Bid-YTW : 5.63 %
Market Action

November 19, 2019

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 -0.3764 % 1,966.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3764 % 3,607.9
Floater 6.15 % 6.30 % 47,139 13.40 4 -0.3764 % 2,079.3
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1399 % 3,402.2
SplitShare 4.63 % 4.62 % 48,293 3.85 7 -0.1399 % 4,063.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1399 % 3,170.1
Perpetual-Premium 5.56 % -18.60 % 48,440 0.09 10 0.0274 % 3,036.7
Perpetual-Discount 5.32 % 5.43 % 69,995 14.74 25 -0.0208 % 3,249.1
FixedReset Disc 5.59 % 5.62 % 180,578 14.43 66 -0.1531 % 2,104.4
Deemed-Retractible 5.16 % 5.61 % 64,257 7.77 27 0.0219 % 3,199.3
FloatingReset 6.16 % 6.72 % 100,543 12.81 2 0.7440 % 2,475.4
FixedReset Prem 5.12 % 3.79 % 120,476 1.60 20 -0.0312 % 2,621.3
FixedReset Bank Non 1.97 % 4.18 % 74,798 2.13 3 -0.2069 % 2,689.0
FixedReset Ins Non 5.43 % 8.00 % 111,490 7.86 22 -0.0967 % 2,149.3
Performance Highlights
Issue Index Change Notes
TD.PF.C FixedReset Disc -2.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 5.64 %
HSE.PR.E FixedReset Disc -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 7.25 %
CU.PR.C FixedReset Disc -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.45
Evaluated at bid price : 16.45
Bid-YTW : 5.80 %
HSE.PR.A FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 11.16
Evaluated at bid price : 11.16
Bid-YTW : 7.10 %
PWF.PR.A Floater -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 11.71
Evaluated at bid price : 11.71
Bid-YTW : 5.95 %
GWO.PR.N FixedReset Ins Non -1.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.53
Bid-YTW : 10.04 %
EIT.PR.A SplitShare -1.13 % YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 25.46
Bid-YTW : 4.57 %
BAM.PR.T FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 15.38
Evaluated at bid price : 15.38
Bid-YTW : 6.17 %
HSE.PR.G FixedReset Disc -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 17.39
Evaluated at bid price : 17.39
Bid-YTW : 7.30 %
BAM.PR.R FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 15.22
Evaluated at bid price : 15.22
Bid-YTW : 6.17 %
HSE.PR.C FixedReset Disc -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.34
Evaluated at bid price : 16.34
Bid-YTW : 7.18 %
IFC.PR.C FixedReset Ins Non 1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.70
Bid-YTW : 8.37 %
TRP.PR.A FixedReset Disc 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 6.27 %
TD.PF.E FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 5.59 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PWF.PR.S Perpetual-Discount 178,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 22.13
Evaluated at bid price : 22.13
Bid-YTW : 5.48 %
TD.PF.M FixedReset Disc 121,893 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 23.04
Evaluated at bid price : 24.60
Bid-YTW : 5.09 %
TRP.PR.D FixedReset Disc 116,721 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.04
Evaluated at bid price : 16.04
Bid-YTW : 6.09 %
BMO.PR.D FixedReset Disc 94,578 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 5.46 %
RY.PR.H FixedReset Disc 73,897 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 5.40 %
EMA.PR.E Perpetual-Discount 65,978 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 5.38 %
There were 48 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.C FixedReset Disc Quote: 16.65 – 17.00
Spot Rate : 0.3500
Average : 0.2146

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.65
Evaluated at bid price : 16.65
Bid-YTW : 5.64 %
EIT.PR.A SplitShare Quote: 25.46 – 25.96
Spot Rate : 0.5000
Average : 0.3768

YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 25.46
Bid-YTW : 4.57 %
CU.PR.C FixedReset Disc Quote: 16.45 – 16.88
Spot Rate : 0.4300
Average : 0.3261

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 16.45
Evaluated at bid price : 16.45
Bid-YTW : 5.80 %
TD.PF.L FixedReset Disc Quote: 23.96 – 24.18
Spot Rate : 0.2200
Average : 0.1299

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 22.80
Evaluated at bid price : 23.96
Bid-YTW : 5.04 %
CU.PR.I FixedReset Prem Quote: 25.33 – 25.63
Spot Rate : 0.3000
Average : 0.2125

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.33
Bid-YTW : 3.05 %
BAM.PF.C Perpetual-Discount Quote: 21.91 – 22.18
Spot Rate : 0.2700
Average : 0.1830

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-19
Maturity Price : 21.91
Evaluated at bid price : 21.91
Bid-YTW : 5.63 %
Market Action

November 14, 2019

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 -0.1767 % 1,975.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1767 % 3,624.8
Floater 6.12 % 6.31 % 45,324 13.39 4 -0.1767 % 2,089.0
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0504 % 3,402.4
SplitShare 4.63 % 4.55 % 47,962 3.86 7 -0.0504 % 4,063.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0504 % 3,170.3
Perpetual-Premium 5.56 % -19.46 % 51,656 0.09 10 -0.0941 % 3,032.1
Perpetual-Discount 5.33 % 5.44 % 68,996 14.73 25 -0.0329 % 3,243.9
FixedReset Disc 5.59 % 5.75 % 173,562 14.31 66 -0.3591 % 2,102.7
Deemed-Retractible 5.17 % 5.63 % 62,411 7.79 27 0.0047 % 3,195.1
FloatingReset 6.16 % 6.73 % 102,519 12.82 2 -0.9482 % 2,482.8
FixedReset Prem 5.12 % 3.72 % 125,106 1.61 20 -0.1207 % 2,623.1
FixedReset Bank Non 1.96 % 4.17 % 80,202 2.14 3 0.0691 % 2,692.7
FixedReset Ins Non 5.42 % 8.32 % 114,602 7.78 22 -0.5244 % 2,137.5
Performance Highlights
Issue Index Change Notes
PWF.PR.P FixedReset Disc -2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 12.81
Evaluated at bid price : 12.81
Bid-YTW : 6.11 %
BAM.PR.R FixedReset Disc -2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 15.19
Evaluated at bid price : 15.19
Bid-YTW : 6.31 %
MFC.PR.F FixedReset Ins Non -2.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.67
Bid-YTW : 11.08 %
HSE.PR.E FixedReset Disc -2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.22 %
SLF.PR.G FixedReset Ins Non -1.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.43
Bid-YTW : 10.51 %
SLF.PR.J FloatingReset -1.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.56
Bid-YTW : 10.63 %
CM.PR.O FixedReset Disc -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 16.38
Evaluated at bid price : 16.38
Bid-YTW : 5.91 %
HSE.PR.A FixedReset Disc -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 11.18
Evaluated at bid price : 11.18
Bid-YTW : 7.26 %
GWO.PR.N FixedReset Ins Non -1.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.66
Bid-YTW : 10.01 %
IFC.PR.C FixedReset Ins Non -1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.51
Bid-YTW : 8.59 %
TRP.PR.B FixedReset Disc -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 11.19
Evaluated at bid price : 11.19
Bid-YTW : 6.40 %
NA.PR.S FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 17.21
Evaluated at bid price : 17.21
Bid-YTW : 5.82 %
MFC.PR.N FixedReset Ins Non -1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.62
Bid-YTW : 9.10 %
BIP.PR.E FixedReset Disc -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 22.20
Evaluated at bid price : 22.68
Bid-YTW : 5.57 %
HSE.PR.C FixedReset Disc -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 16.85
Evaluated at bid price : 16.85
Bid-YTW : 7.08 %
HSE.PR.G FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.16 %
BAM.PR.X FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 13.50
Evaluated at bid price : 13.50
Bid-YTW : 6.12 %
BIP.PR.A FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 6.50 %
BAM.PR.T FixedReset Disc -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 6.30 %
IFC.PR.A FixedReset Ins Non -1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.40
Bid-YTW : 10.22 %
IFC.PR.F Deemed-Retractible -1.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.45
Bid-YTW : 5.71 %
MFC.PR.C Deemed-Retractible 1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.60
Bid-YTW : 6.47 %
TD.PF.J FixedReset Disc 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 19.58
Evaluated at bid price : 19.58
Bid-YTW : 5.61 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BNS.PR.E FixedReset Prem 96,732 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-25
Maturity Price : 25.00
Evaluated at bid price : 25.70
Bid-YTW : 3.70 %
PWF.PR.S Perpetual-Discount 76,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 22.09
Evaluated at bid price : 22.09
Bid-YTW : 5.48 %
MFC.PR.O FixedReset Ins Non 68,754 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-06-19
Maturity Price : 25.00
Evaluated at bid price : 25.89
Bid-YTW : 3.87 %
BAM.PR.B Floater 63,850 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 11.08
Evaluated at bid price : 11.08
Bid-YTW : 6.34 %
TRP.PR.J FixedReset Prem 62,383 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.75
Bid-YTW : 3.35 %
MFC.PR.M FixedReset Ins Non 60,712 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.00
Bid-YTW : 8.88 %
There were 52 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CM.PR.O FixedReset Disc Quote: 16.38 – 16.74
Spot Rate : 0.3600
Average : 0.2234

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 16.38
Evaluated at bid price : 16.38
Bid-YTW : 5.91 %
SLF.PR.G FixedReset Ins Non Quote: 13.43 – 13.89
Spot Rate : 0.4600
Average : 0.3321

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.43
Bid-YTW : 10.51 %
W.PR.M FixedReset Prem Quote: 25.88 – 26.25
Spot Rate : 0.3700
Average : 0.2686

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-15
Maturity Price : 25.00
Evaluated at bid price : 25.88
Bid-YTW : 3.54 %
BAM.PR.N Perpetual-Discount Quote: 21.71 – 21.95
Spot Rate : 0.2400
Average : 0.1406

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 21.45
Evaluated at bid price : 21.71
Bid-YTW : 5.54 %
TRP.PR.D FixedReset Disc Quote: 16.09 – 16.40
Spot Rate : 0.3100
Average : 0.2143

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 16.09
Evaluated at bid price : 16.09
Bid-YTW : 6.17 %
TRP.PR.E FixedReset Disc Quote: 15.63 – 16.00
Spot Rate : 0.3700
Average : 0.2768

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-14
Maturity Price : 15.63
Evaluated at bid price : 15.63
Bid-YTW : 6.25 %
Market Action

November 13, 2019

PerpetualDiscounts now yield 5.43%, equivalent to 7.06% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.47%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has narrowed sharply to 360bp from the 375bp reported November 6.

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 0.2435 % 1,978.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2435 % 3,631.2
Floater 6.11 % 6.30 % 47,122 13.41 4 0.2435 % 2,092.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0168 % 3,404.1
SplitShare 4.63 % 4.54 % 48,678 3.87 7 0.0168 % 4,065.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0168 % 3,171.9
Perpetual-Premium 5.56 % -18.34 % 51,484 0.09 10 0.1060 % 3,034.9
Perpetual-Discount 5.32 % 5.43 % 69,866 14.75 25 0.0121 % 3,245.0
FixedReset Disc 5.57 % 5.75 % 176,255 14.31 66 -0.0637 % 2,110.3
Deemed-Retractible 5.17 % 5.58 % 62,001 7.79 27 -0.0094 % 3,195.0
FloatingReset 6.10 % 10.39 % 68,418 7.89 2 -0.8677 % 2,506.5
FixedReset Prem 5.10 % 3.71 % 146,907 1.62 20 -0.0195 % 2,626.3
FixedReset Bank Non 1.96 % 4.24 % 80,811 2.15 3 0.1383 % 2,690.8
FixedReset Ins Non 5.39 % 8.24 % 114,116 7.79 22 -0.5119 % 2,148.7
Performance Highlights
Issue Index Change Notes
CU.PR.C FixedReset Disc -2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 5.81 %
TRP.PR.A FixedReset Disc -1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 13.56
Evaluated at bid price : 13.56
Bid-YTW : 6.52 %
MFC.PR.I FixedReset Ins Non -1.60 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.09
Bid-YTW : 7.96 %
MFC.PR.F FixedReset Ins Non -1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.98
Bid-YTW : 10.77 %
TD.PF.E FixedReset Disc -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 5.80 %
MFC.PR.L FixedReset Ins Non -1.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.76
Bid-YTW : 8.85 %
SLF.PR.G FixedReset Ins Non -1.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.67
Bid-YTW : 10.27 %
SLF.PR.H FixedReset Ins Non -1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.31
Bid-YTW : 8.86 %
IFC.PR.A FixedReset Ins Non -1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.55
Bid-YTW : 10.08 %
PWF.PR.A Floater 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 11.94
Evaluated at bid price : 11.94
Bid-YTW : 5.81 %
BIP.PR.A FixedReset Disc 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 6.42 %
TRP.PR.B FixedReset Disc 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 11.33
Evaluated at bid price : 11.33
Bid-YTW : 6.31 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.M FixedReset Disc 260,201 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 23.02
Evaluated at bid price : 24.55
Bid-YTW : 5.16 %
BMO.PR.D FixedReset Disc 99,878 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 5.57 %
BAM.PF.B FixedReset Disc 79,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 5.96 %
CU.PR.I FixedReset Prem 55,936 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : 3.28 %
TD.PF.I FixedReset Disc 50,706 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 21.08
Evaluated at bid price : 21.08
Bid-YTW : 5.45 %
RY.PR.H FixedReset Disc 48,847 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 17.32
Evaluated at bid price : 17.32
Bid-YTW : 5.47 %
There were 46 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
PWF.PR.L Perpetual-Discount Quote: 23.51 – 24.20
Spot Rate : 0.6900
Average : 0.4749

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 23.21
Evaluated at bid price : 23.51
Bid-YTW : 5.45 %
BMO.PR.C FixedReset Disc Quote: 22.01 – 22.45
Spot Rate : 0.4400
Average : 0.2996

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 21.60
Evaluated at bid price : 22.01
Bid-YTW : 5.49 %
BNS.PR.I FixedReset Disc Quote: 19.35 – 19.93
Spot Rate : 0.5800
Average : 0.4542

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.48 %
CU.PR.D Perpetual-Discount Quote: 23.00 – 23.35
Spot Rate : 0.3500
Average : 0.2294

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 22.72
Evaluated at bid price : 23.00
Bid-YTW : 5.33 %
TRP.PR.A FixedReset Disc Quote: 13.56 – 13.94
Spot Rate : 0.3800
Average : 0.2668

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 13.56
Evaluated at bid price : 13.56
Bid-YTW : 6.52 %
BAM.PF.G FixedReset Disc Quote: 18.00 – 18.36
Spot Rate : 0.3600
Average : 0.2738

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-13
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.22 %
Market Action

November 12, 2019

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 0.3109 % 1,974.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.3109 % 3,622.4
Floater 6.12 % 6.28 % 43,607 13.44 4 0.3109 % 2,087.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.2528 % 3,403.6
SplitShare 4.63 % 4.54 % 49,306 3.87 7 0.2528 % 4,064.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2528 % 3,171.3
Perpetual-Premium 5.57 % -17.64 % 52,173 0.09 10 -0.0745 % 3,031.7
Perpetual-Discount 5.32 % 5.41 % 70,263 14.78 25 0.0191 % 3,244.6
FixedReset Disc 5.57 % 5.73 % 173,476 14.33 66 0.1505 % 2,111.6
Deemed-Retractible 5.17 % 5.64 % 62,983 7.79 27 0.0484 % 3,195.3
FloatingReset 6.05 % 10.29 % 69,143 7.90 2 0.2901 % 2,528.5
FixedReset Prem 5.10 % 3.54 % 148,335 1.62 20 0.0409 % 2,626.8
FixedReset Bank Non 1.97 % 4.30 % 82,064 2.15 3 -0.2070 % 2,687.1
FixedReset Ins Non 5.36 % 8.15 % 113,971 7.80 22 0.4923 % 2,159.8
Performance Highlights
Issue Index Change Notes
HSE.PR.A FixedReset Disc -2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 11.26
Evaluated at bid price : 11.26
Bid-YTW : 7.21 %
NA.PR.G FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 5.90 %
TRP.PR.B FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 11.14
Evaluated at bid price : 11.14
Bid-YTW : 6.42 %
BIK.PR.A FixedReset Prem -1.70 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-03-31
Maturity Price : 25.00
Evaluated at bid price : 26.00
Bid-YTW : 5.04 %
BAM.PF.F FixedReset Disc -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 6.06 %
TD.PF.E FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.73 %
MFC.PR.G FixedReset Ins Non 1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.20
Bid-YTW : 7.77 %
CM.PR.O FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 5.77 %
SLF.PR.J FloatingReset 1.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.91
Bid-YTW : 10.29 %
BAM.PR.T FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 6.27 %
MFC.PR.J FixedReset Ins Non 1.51 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.82
Bid-YTW : 8.15 %
MFC.PR.I FixedReset Ins Non 1.57 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.40
Bid-YTW : 7.74 %
RY.PR.M FixedReset Disc 1.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 5.71 %
IFC.PR.C FixedReset Ins Non 2.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.90
Bid-YTW : 8.29 %
BAM.PR.R FixedReset Disc 2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 6.18 %
Volume Highlights
Issue Index Shares
Traded		 Notes
EMA.PR.C FixedReset Disc 57,920 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 17.95
Evaluated at bid price : 17.95
Bid-YTW : 6.07 %
BMO.PR.T FixedReset Disc 50,194 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 16.97
Evaluated at bid price : 16.97
Bid-YTW : 5.55 %
CM.PR.O FixedReset Disc 48,732 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 5.77 %
CM.PR.S FixedReset Disc 45,330 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 5.67 %
TD.PF.K FixedReset Disc 44,977 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.70 %
CM.PR.T FixedReset Disc 38,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 22.72
Evaluated at bid price : 23.79
Bid-YTW : 5.19 %
There were 43 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
PWF.PR.A Floater Quote: 11.77 – 12.16
Spot Rate : 0.3900
Average : 0.2568

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 11.77
Evaluated at bid price : 11.77
Bid-YTW : 5.89 %
EIT.PR.A SplitShare Quote: 25.47 – 25.87
Spot Rate : 0.4000
Average : 0.2726

YTW SCENARIO
Maturity Type : Soft Maturity
Maturity Date : 2024-03-14
Maturity Price : 25.00
Evaluated at bid price : 25.47
Bid-YTW : 4.54 %
BNS.PR.I FixedReset Disc Quote: 19.30 – 19.74
Spot Rate : 0.4400
Average : 0.3163

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 5.49 %
BAM.PF.G FixedReset Disc Quote: 17.91 – 18.21
Spot Rate : 0.3000
Average : 0.1792

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 17.91
Evaluated at bid price : 17.91
Bid-YTW : 6.25 %
HSE.PR.E FixedReset Disc Quote: 18.45 – 18.89
Spot Rate : 0.4400
Average : 0.3280

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.04 %
PWF.PR.T FixedReset Disc Quote: 17.40 – 17.66
Spot Rate : 0.2600
Average : 0.1686

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-12
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 5.80 %
Market Action

November 7, 2019

Here’s a phrase you don’t see very often: hard-working traders!

A proposal to shorten trading hours on Europe’s stock exchanges could help to boost liquidity and would have far-reaching benefits for the industry’s hard-working traders.

But a proposed 90 minute reduction in the trading day could also drive some business away from Europe’s main stock exchanges into so-called dark pools, trading venues which are less transparent and which regulators have been trying to curb.

Banks and fund managers on Thursday have proposed shortening the trading day in Europe to 7 hours from current 8-1/2 — one of the longest in the world.

I don’t understand why exchanges ever close in this day and age, frankly.

Ontario is going to review the Securities Act:

The fall statement acknowledged that the Securities Act is “outdated, and should support modern capital markets.”

“Ontario will undertake measures to create a modernized securities regulatory framework that is responsive to innovation and changes in a rapidly evolving marketplace,” the statement said. “Accordingly, the government will establish a securities modernization task force.”
…
The Securities Act requires that the Minister of Finance appoint an advisory committee to review securities legislation every five years. However, the most recent such review finished in March 2003, when a committee chaired by Purdy Crawford released a comprehensive report.

The act also requires that the finance minister and the OSC review their memorandum of understanding (MOU), which sets out both parties’ respective roles and responsibilities, every five years. The parties have not formally reviewed the current MOU since November 2009.

Yields popped:

U.S. Treasury yields surged to more than three-month highs on Thursday, exaggerated by technical factors, as reports that a U.S.-China agreement to roll back trade tariffs boosted global economic growth expectations.

Tariffs imposed during the months-long bilateral trade war will be phased out, the Chinese commerce ministry said on Thursday, without specifying a timetable.

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 0.7084 % 1,988.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.7084 % 3,648.0
Floater 6.08 % 6.24 % 46,889 13.50 4 0.7084 % 2,102.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.1405 % 3,397.5
SplitShare 4.64 % 4.56 % 51,807 3.88 7 0.1405 % 4,057.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1405 % 3,165.7
Perpetual-Premium 5.56 % -18.51 % 51,709 0.09 10 0.0353 % 3,034.6
Perpetual-Discount 5.33 % 5.43 % 70,749 14.75 25 -0.1421 % 3,240.1
FixedReset Disc 5.58 % 5.72 % 175,955 14.30 66 0.7753 % 2,107.8
Deemed-Retractible 5.17 % 5.64 % 64,298 7.80 27 0.0861 % 3,191.1
FloatingReset 6.13 % 6.69 % 93,310 12.88 2 1.2213 % 2,500.1
FixedReset Prem 5.11 % 3.78 % 153,368 1.63 20 0.1444 % 2,622.9
FixedReset Bank Non 1.96 % 4.10 % 89,570 2.16 3 0.0000 % 2,695.7
FixedReset Ins Non 5.40 % 8.24 % 112,549 7.79 22 0.4364 % 2,143.0
Performance Highlights
Issue Index Change Notes
BAM.PR.M Perpetual-Discount -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 21.31
Evaluated at bid price : 21.31
Bid-YTW : 5.65 %
CU.PR.D Perpetual-Discount -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 22.72
Evaluated at bid price : 23.00
Bid-YTW : 5.32 %
TRP.PR.G FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 17.95
Evaluated at bid price : 17.95
Bid-YTW : 6.33 %
NA.PR.G FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.74 %
RY.PR.J FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.79 %
BNS.PR.I FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 5.51 %
NA.PR.W FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.22
Evaluated at bid price : 16.22
Bid-YTW : 5.87 %
BAM.PF.E FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.66
Evaluated at bid price : 16.66
Bid-YTW : 6.25 %
BAM.PF.B FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 5.92 %
SLF.PR.H FixedReset Ins Non 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.35
Bid-YTW : 8.79 %
RY.PR.M FixedReset Disc 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.06
Evaluated at bid price : 18.06
Bid-YTW : 5.74 %
CU.PR.C FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.99
Evaluated at bid price : 16.99
Bid-YTW : 5.69 %
MFC.PR.N FixedReset Ins Non 1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.70
Bid-YTW : 8.99 %
CM.PR.Q FixedReset Disc 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 5.97 %
SLF.PR.J FloatingReset 1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.66
Bid-YTW : 10.52 %
HSE.PR.C FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.98 %
NA.PR.E FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 5.78 %
TRP.PR.F FloatingReset 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 13.69
Evaluated at bid price : 13.69
Bid-YTW : 6.69 %
BIP.PR.A FixedReset Disc 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 6.56 %
PWF.PR.P FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 13.21
Evaluated at bid price : 13.21
Bid-YTW : 5.88 %
TRP.PR.D FixedReset Disc 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.27
Evaluated at bid price : 16.27
Bid-YTW : 6.07 %
TD.PF.E FixedReset Disc 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 5.76 %
HSE.PR.E FixedReset Disc 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.13
Evaluated at bid price : 18.13
Bid-YTW : 7.13 %
EMA.PR.F FixedReset Disc 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.59
Evaluated at bid price : 16.59
Bid-YTW : 6.32 %
BMO.PR.Y FixedReset Disc 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.56 %
HSE.PR.G FixedReset Disc 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 7.10 %
RY.PR.S FixedReset Disc 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 19.22
Evaluated at bid price : 19.22
Bid-YTW : 5.40 %
BAM.PF.F FixedReset Disc 1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 5.98 %
IFC.PR.A FixedReset Ins Non 1.99 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.85
Bid-YTW : 9.78 %
MFC.PR.F FixedReset Ins Non 2.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.20
Bid-YTW : 10.51 %
BAM.PR.X FixedReset Disc 2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 5.98 %
SLF.PR.G FixedReset Ins Non 2.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.67
Bid-YTW : 10.23 %
TRP.PR.E FixedReset Disc 2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 6.07 %
TRP.PR.C FixedReset Disc 2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 6.35 %
BAM.PR.K Floater 2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 11.23
Evaluated at bid price : 11.23
Bid-YTW : 6.24 %
HSE.PR.A FixedReset Disc 4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 11.66
Evaluated at bid price : 11.66
Bid-YTW : 6.92 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CU.PR.C FixedReset Disc 104,367 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.99
Evaluated at bid price : 16.99
Bid-YTW : 5.69 %
TD.PF.I FixedReset Disc 62,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 20.81
Evaluated at bid price : 20.81
Bid-YTW : 5.50 %
PWF.PR.P FixedReset Disc 41,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 13.21
Evaluated at bid price : 13.21
Bid-YTW : 5.88 %
TD.PF.J FixedReset Disc 34,255 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.67 %
BMO.PR.C FixedReset Disc 32,577 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 21.90
Evaluated at bid price : 22.14
Bid-YTW : 5.44 %
TRP.PR.C FixedReset Disc 32,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 6.35 %
There were 44 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: 16.35 – 16.95
Spot Rate : 0.6000
Average : 0.4010

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.35
Bid-YTW : 8.79 %
MFC.PR.G FixedReset Ins Non Quote: 18.82 – 19.24
Spot Rate : 0.4200
Average : 0.2760

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.82
Bid-YTW : 8.00 %
CU.PR.F Perpetual-Discount Quote: 21.25 – 21.74
Spot Rate : 0.4900
Average : 0.3677

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.31 %
BAM.PF.E FixedReset Disc Quote: 16.66 – 16.97
Spot Rate : 0.3100
Average : 0.1907

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.66
Evaluated at bid price : 16.66
Bid-YTW : 6.25 %
TD.PF.C FixedReset Disc Quote: 16.96 – 17.29
Spot Rate : 0.3300
Average : 0.2114

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-11-07
Maturity Price : 16.96
Evaluated at bid price : 16.96
Bid-YTW : 5.63 %
SLF.PR.G FixedReset Ins Non Quote: 13.67 – 14.06
Spot Rate : 0.3900
Average : 0.2728

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.67
Bid-YTW : 10.23 %