Category: Market Action

Market Action

May 28, 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 -1.6098 % 2,042.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.6098 % 3,748.7
Floater 5.75 % 6.10 % 53,780 13.66 3 -1.6098 % 2,160.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.0741 % 3,306.8
SplitShare 4.70 % 4.71 % 78,060 4.27 7 0.0741 % 3,949.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0741 % 3,081.2
Perpetual-Premium 5.54 % 4.93 % 83,517 1.81 12 -0.1352 % 2,946.4
Perpetual-Discount 5.44 % 5.48 % 72,316 14.65 20 -0.1367 % 3,100.0
FixedReset Disc 5.39 % 5.43 % 151,171 14.81 63 -0.4282 % 2,131.7
Deemed-Retractible 5.23 % 5.89 % 96,312 8.00 27 0.0544 % 3,081.4
FloatingReset 3.99 % 4.43 % 48,400 2.56 4 -0.3167 % 2,401.6
FixedReset Prem 5.12 % 3.85 % 229,531 2.08 21 -0.0390 % 2,581.8
FixedReset Bank Non 1.98 % 4.01 % 140,313 2.58 3 0.0695 % 2,648.3
FixedReset Ins Non 5.14 % 6.91 % 104,608 8.20 22 -0.5643 % 2,211.3
Performance Highlights
Issue Index Change Notes
MFC.PR.F FixedReset Ins Non -3.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.17
Bid-YTW : 10.07 %
PWF.PR.A Floater -2.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 13.04
Evaluated at bid price : 13.04
Bid-YTW : 5.35 %
SLF.PR.G FixedReset Ins Non -2.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.35
Bid-YTW : 9.17 %
SLF.PR.J FloatingReset -2.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.50
Bid-YTW : 9.38 %
IAF.PR.G FixedReset Ins Non -2.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.07
Bid-YTW : 6.31 %
SLF.PR.H FixedReset Ins Non -1.95 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.55
Bid-YTW : 8.27 %
BAM.PR.X FixedReset Disc -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 6.01 %
BAM.PF.G FixedReset Disc -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 18.03
Evaluated at bid price : 18.03
Bid-YTW : 6.15 %
BMO.PR.Y FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 19.79
Evaluated at bid price : 19.79
Bid-YTW : 5.32 %
NA.PR.E FixedReset Disc -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.40 %
EMA.PR.H FixedReset Disc -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 22.51
Evaluated at bid price : 23.34
Bid-YTW : 5.24 %
NA.PR.G FixedReset Disc -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 5.25 %
CM.PR.O FixedReset Disc -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 17.51
Evaluated at bid price : 17.51
Bid-YTW : 5.52 %
TD.PF.B FixedReset Disc -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 5.30 %
EMA.PR.F FixedReset Disc -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 18.13
Evaluated at bid price : 18.13
Bid-YTW : 5.75 %
BIK.PR.A FixedReset Prem -1.35 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.55
Bid-YTW : 5.59 %
BAM.PR.B Floater -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 6.11 %
BAM.PR.Z FixedReset Disc -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.97 %
TD.PF.J FixedReset Disc -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 21.27
Evaluated at bid price : 21.27
Bid-YTW : 5.12 %
PWF.PR.T FixedReset Disc -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 18.28
Evaluated at bid price : 18.28
Bid-YTW : 5.49 %
TRP.PR.B FixedReset Disc -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 11.86
Evaluated at bid price : 11.86
Bid-YTW : 5.87 %
TRP.PR.A FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 5.95 %
BAM.PR.K Floater -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 11.52
Evaluated at bid price : 11.52
Bid-YTW : 6.10 %
IFC.PR.G FixedReset Ins Non -1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.62
Bid-YTW : 6.92 %
MFC.PR.G FixedReset Ins Non -1.04 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.97
Bid-YTW : 6.96 %
MFC.PR.J FixedReset Ins Non -1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.40
Bid-YTW : 6.83 %
BAM.PF.E FixedReset Disc -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 16.53
Evaluated at bid price : 16.53
Bid-YTW : 6.27 %
HSE.PR.A FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 12.18
Evaluated at bid price : 12.18
Bid-YTW : 6.52 %
CCS.PR.C Deemed-Retractible 1.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.46
Bid-YTW : 5.92 %
HSE.PR.G FixedReset Disc 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 6.59 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.G FixedReset Disc 121,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 5.88 %
TD.PF.L FixedReset Prem 112,106 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 23.16
Evaluated at bid price : 24.99
Bid-YTW : 4.83 %
TD.PF.J FixedReset Disc 73,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 21.27
Evaluated at bid price : 21.27
Bid-YTW : 5.12 %
GWO.PR.I Deemed-Retractible 59,275 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.11
Bid-YTW : 6.69 %
PWF.PR.A Floater 54,922 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 13.04
Evaluated at bid price : 13.04
Bid-YTW : 5.35 %
SLF.PR.C Deemed-Retractible 54,643 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.85
Bid-YTW : 6.63 %
There were 41 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.F FixedReset Ins Non Quote: 13.17 – 13.64
Spot Rate : 0.4700
Average : 0.3303

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.17
Bid-YTW : 10.07 %
NA.PR.S FixedReset Disc Quote: 18.00 – 18.44
Spot Rate : 0.4400
Average : 0.3082

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 5.52 %
BIP.PR.A FixedReset Disc Quote: 20.00 – 20.48
Spot Rate : 0.4800
Average : 0.3485

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.40 %
PWF.PR.T FixedReset Disc Quote: 18.28 – 18.70
Spot Rate : 0.4200
Average : 0.2931

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 18.28
Evaluated at bid price : 18.28
Bid-YTW : 5.49 %
BAM.PF.A FixedReset Disc Quote: 19.80 – 20.34
Spot Rate : 0.5400
Average : 0.4160

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.88 %
POW.PR.G Perpetual-Premium Quote: 25.00 – 25.35
Spot Rate : 0.3500
Average : 0.2514

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-28
Maturity Price : 24.63
Evaluated at bid price : 25.00
Bid-YTW : 5.67 %
Market Action

May 27, 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 0.0546 % 2,076.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0546 % 3,810.0
Floater 5.66 % 6.03 % 52,495 13.77 3 0.0546 % 2,195.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1252 % 3,304.3
SplitShare 4.71 % 4.79 % 78,758 4.28 7 -0.1252 % 3,946.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1252 % 3,078.9
Perpetual-Premium 5.53 % 4.93 % 82,529 1.77 12 0.0594 % 2,950.4
Perpetual-Discount 5.44 % 5.46 % 72,784 14.68 20 0.2055 % 3,104.3
FixedReset Disc 5.36 % 5.40 % 147,938 14.88 63 -0.9582 % 2,140.9
Deemed-Retractible 5.23 % 5.88 % 91,822 8.01 27 0.0221 % 3,079.7
FloatingReset 3.96 % 4.43 % 45,462 2.57 4 -0.2425 % 2,409.3
FixedReset Prem 5.12 % 4.02 % 229,079 2.08 21 -0.0613 % 2,582.8
FixedReset Bank Non 1.98 % 4.01 % 142,135 2.59 3 -0.0834 % 2,646.4
FixedReset Ins Non 5.11 % 6.78 % 102,997 8.21 22 -0.4361 % 2,223.9
Performance Highlights
Issue Index Change Notes
NA.PR.S FixedReset Disc -3.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 17.88
Evaluated at bid price : 17.88
Bid-YTW : 5.55 %
HSE.PR.C FixedReset Disc -3.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.74 %
HSE.PR.A FixedReset Disc -2.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 12.05
Evaluated at bid price : 12.05
Bid-YTW : 6.59 %
HSE.PR.E FixedReset Disc -2.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 6.74 %
NA.PR.W FixedReset Disc -2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 16.91
Evaluated at bid price : 16.91
Bid-YTW : 5.60 %
RY.PR.M FixedReset Disc -2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.76
Evaluated at bid price : 19.76
Bid-YTW : 5.20 %
BAM.PF.F FixedReset Disc -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 6.11 %
BMO.PR.W FixedReset Disc -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 17.37
Evaluated at bid price : 17.37
Bid-YTW : 5.39 %
BMO.PR.E FixedReset Disc -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 21.38
Evaluated at bid price : 21.69
Bid-YTW : 5.02 %
EMA.PR.F FixedReset Disc -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.38
Evaluated at bid price : 18.38
Bid-YTW : 5.67 %
BMO.PR.T FixedReset Disc -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 17.48
Evaluated at bid price : 17.48
Bid-YTW : 5.39 %
HSE.PR.G FixedReset Disc -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 6.69 %
TD.PF.C FixedReset Disc -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.02
Evaluated at bid price : 18.02
Bid-YTW : 5.26 %
BAM.PF.G FixedReset Disc -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 6.04 %
BMO.PR.D FixedReset Disc -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 21.85
Evaluated at bid price : 22.16
Bid-YTW : 5.23 %
TD.PF.K FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 20.78
Evaluated at bid price : 20.78
Bid-YTW : 5.19 %
BAM.PF.A FixedReset Disc -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.63
Evaluated at bid price : 19.63
Bid-YTW : 5.94 %
BIP.PR.F FixedReset Disc -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 6.22 %
CM.PR.R FixedReset Disc -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 22.04
Evaluated at bid price : 22.41
Bid-YTW : 5.38 %
MFC.PR.H FixedReset Ins Non -1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.16
Bid-YTW : 6.55 %
BMO.PR.Y FixedReset Disc -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 20.13
Evaluated at bid price : 20.13
Bid-YTW : 5.23 %
MFC.PR.G FixedReset Ins Non -1.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.18
Bid-YTW : 6.83 %
RY.PR.J FixedReset Disc -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 20.27
Evaluated at bid price : 20.27
Bid-YTW : 5.23 %
PWF.PR.T FixedReset Disc -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.51
Evaluated at bid price : 18.51
Bid-YTW : 5.42 %
BMO.PR.S FixedReset Disc -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.18
Evaluated at bid price : 18.18
Bid-YTW : 5.30 %
TD.PF.E FixedReset Disc -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 21.36
Evaluated at bid price : 21.36
Bid-YTW : 5.10 %
BAM.PF.J FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 22.25
Evaluated at bid price : 22.80
Bid-YTW : 5.26 %
BNS.PR.I FixedReset Disc -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 21.99
Evaluated at bid price : 22.50
Bid-YTW : 4.64 %
MFC.PR.L FixedReset Ins Non -1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.15
Bid-YTW : 8.12 %
CM.PR.P FixedReset Disc -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 17.32
Evaluated at bid price : 17.32
Bid-YTW : 5.46 %
NA.PR.E FixedReset Disc -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.93
Evaluated at bid price : 19.93
Bid-YTW : 5.31 %
MFC.PR.N FixedReset Ins Non -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.60
Bid-YTW : 7.97 %
NA.PR.C FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 21.90
Evaluated at bid price : 22.25
Bid-YTW : 5.46 %
CM.PR.S FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.99
Evaluated at bid price : 19.99
Bid-YTW : 5.15 %
NA.PR.G FixedReset Disc -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 21.38
Evaluated at bid price : 21.69
Bid-YTW : 5.14 %
PWF.PR.Z Perpetual-Discount 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 23.26
Evaluated at bid price : 23.60
Bid-YTW : 5.50 %
BAM.PF.D Perpetual-Discount 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.80 %
CCS.PR.C Deemed-Retractible 1.44 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.17
Bid-YTW : 6.08 %
PWF.PR.F Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 23.97
Evaluated at bid price : 24.22
Bid-YTW : 5.47 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.A FixedReset Disc 71,851 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 5.20 %
IAF.PR.G FixedReset Ins Non 64,648 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.50
Bid-YTW : 6.06 %
RY.PR.Q FixedReset Prem 52,534 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 25.82
Bid-YTW : 3.80 %
TD.PF.L FixedReset Prem 42,590 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 23.20
Evaluated at bid price : 25.10
Bid-YTW : 4.80 %
TD.PF.G FixedReset Prem 33,465 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.95
Bid-YTW : 3.67 %
TD.PF.B FixedReset Disc 30,910 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 5.22 %
There were 22 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.E FixedReset Disc Quote: 19.03 – 20.02
Spot Rate : 0.9900
Average : 0.6360

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 6.74 %
BMO.PR.S FixedReset Disc Quote: 18.18 – 18.62
Spot Rate : 0.4400
Average : 0.2801

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 18.18
Evaluated at bid price : 18.18
Bid-YTW : 5.30 %
MFC.PR.B Deemed-Retractible Quote: 21.40 – 21.75
Spot Rate : 0.3500
Average : 0.2200

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.40
Bid-YTW : 6.54 %
HSE.PR.G FixedReset Disc Quote: 19.03 – 19.70
Spot Rate : 0.6700
Average : 0.5531

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 6.69 %
CU.PR.D Perpetual-Discount Quote: 22.55 – 22.90
Spot Rate : 0.3500
Average : 0.2482

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-27
Maturity Price : 22.23
Evaluated at bid price : 22.55
Bid-YTW : 5.44 %
MFC.PR.H FixedReset Ins Non Quote: 21.16 – 21.55
Spot Rate : 0.3900
Average : 0.2884

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.16
Bid-YTW : 6.55 %
Market Action

May 24, 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 -0.2723 % 2,075.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2723 % 3,807.9
Floater 5.66 % 6.02 % 51,383 13.78 3 -0.2723 % 2,194.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.0455 % 3,308.5
SplitShare 4.70 % 4.68 % 79,633 4.29 7 0.0455 % 3,951.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0455 % 3,082.8
Perpetual-Premium 5.53 % 4.94 % 83,207 1.78 12 -0.0495 % 2,948.7
Perpetual-Discount 5.45 % 5.48 % 74,835 14.66 20 -0.1192 % 3,097.9
FixedReset Disc 5.32 % 5.49 % 148,230 14.77 63 -0.3588 % 2,161.6
Deemed-Retractible 5.23 % 5.90 % 92,968 8.01 27 0.0190 % 3,079.0
FloatingReset 3.95 % 4.37 % 43,208 2.58 4 0.0383 % 2,415.1
FixedReset Prem 5.12 % 4.00 % 229,367 2.09 21 -0.0223 % 2,584.4
FixedReset Bank Non 1.98 % 4.01 % 147,963 2.59 3 -0.0972 % 2,648.6
FixedReset Ins Non 5.08 % 6.84 % 102,358 8.20 22 -0.2037 % 2,233.6
Performance Highlights
Issue Index Change Notes
HSE.PR.E FixedReset Disc -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 19.57
Evaluated at bid price : 19.57
Bid-YTW : 6.71 %
TD.PF.J FixedReset Disc -2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 5.20 %
BAM.PR.Z FixedReset Disc -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 6.08 %
IFC.PR.E Deemed-Retractible -1.45 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.85
Bid-YTW : 5.92 %
MFC.PR.I FixedReset Ins Non -1.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.33
Bid-YTW : 6.94 %
BAM.PF.D Perpetual-Discount -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 21.23
Evaluated at bid price : 21.23
Bid-YTW : 5.87 %
BMO.PR.C FixedReset Disc -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 22.85
Evaluated at bid price : 23.75
Bid-YTW : 5.12 %
MFC.PR.N FixedReset Ins Non -1.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.80
Bid-YTW : 7.97 %
BMO.PR.S FixedReset Disc -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 18.41
Evaluated at bid price : 18.41
Bid-YTW : 5.41 %
BMO.PR.Y FixedReset Disc -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 5.31 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BNS.PR.H FixedReset Prem 119,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-01-26
Maturity Price : 25.00
Evaluated at bid price : 25.79
Bid-YTW : 3.76 %
TD.PF.L FixedReset Prem 109,265 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 23.17
Evaluated at bid price : 25.01
Bid-YTW : 4.92 %
BMO.PR.F FixedReset Prem 108,560 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 23.21
Evaluated at bid price : 25.14
Bid-YTW : 5.05 %
TD.PF.H FixedReset Prem 104,540 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.71
Bid-YTW : 3.78 %
RY.PR.Z FixedReset Disc 55,818 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 18.63
Evaluated at bid price : 18.63
Bid-YTW : 5.19 %
TD.PF.A FixedReset Disc 54,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 18.31
Evaluated at bid price : 18.31
Bid-YTW : 5.34 %
There were 17 other index-included issues trading in excess of 10,000 shares.
Market Action

May 23, 2019

The report for May 23 will be delayed, as I have other business to attend to. It will be posted May 24.

Update, 2019-5-24:

Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BAM.PF.D Perpetual-Discount Quote: 21.23 – 21.75
Spot Rate : 0.5200
Average : 0.3516

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 21.23
Evaluated at bid price : 21.23
Bid-YTW : 5.87 %
IFC.PR.E Deemed-Retractible Quote: 23.85 – 24.43
Spot Rate : 0.5800
Average : 0.4205

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.85
Bid-YTW : 5.92 %
TD.PF.J FixedReset Disc Quote: 21.45 – 21.84
Spot Rate : 0.3900
Average : 0.2561

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 5.20 %
BAM.PR.K Floater Quote: 11.66 – 11.97
Spot Rate : 0.3100
Average : 0.2082

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 11.66
Evaluated at bid price : 11.66
Bid-YTW : 6.02 %
PWF.PR.S Perpetual-Discount Quote: 22.07 – 22.35
Spot Rate : 0.2800
Average : 0.1899

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 21.81
Evaluated at bid price : 22.07
Bid-YTW : 5.48 %
BAM.PF.J FixedReset Disc Quote: 23.08 – 23.32
Spot Rate : 0.2400
Average : 0.1564

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-24
Maturity Price : 22.42
Evaluated at bid price : 23.08
Bid-YTW : 5.19 %
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 -0.1902 % 2,080.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1902 % 3,818.3
Floater 5.65 % 5.99 % 52,125 13.83 3 -0.1902 % 2,200.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0398 % 3,307.0
SplitShare 4.70 % 4.76 % 80,474 4.29 7 -0.0398 % 3,949.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0398 % 3,081.4
Perpetual-Premium 5.53 % 4.92 % 84,306 1.78 12 -0.1021 % 2,950.1
Perpetual-Discount 5.44 % 5.50 % 75,969 14.64 20 -0.0904 % 3,101.6
FixedReset Disc 5.30 % 5.48 % 149,402 14.81 63 -0.0898 % 2,169.3
Deemed-Retractible 5.23 % 5.88 % 93,935 8.02 27 -0.1168 % 3,078.5
FloatingReset 3.96 % 4.36 % 44,985 2.58 4 -0.0383 % 2,414.2
FixedReset Prem 5.12 % 4.00 % 237,389 2.10 21 -0.0520 % 2,585.0
FixedReset Bank Non 1.97 % 4.02 % 150,280 2.60 3 0.1112 % 2,651.2
FixedReset Ins Non 5.07 % 6.76 % 94,835 8.22 22 -0.0994 % 2,238.2
Performance Highlights
Issue Index Change Notes
HSE.PR.G FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.68 %
CM.PR.O FixedReset Disc -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 5.59 %
SLF.PR.G FixedReset Ins Non -1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.60
Bid-YTW : 9.23 %
IFC.PR.F Deemed-Retractible -1.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.21
Bid-YTW : 5.83 %
MFC.PR.F FixedReset Ins Non -1.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.75
Bid-YTW : 9.67 %
BIP.PR.E FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.18 %
RY.PR.M FixedReset Disc 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 5.20 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.C FixedReset Disc 106,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 22.14
Evaluated at bid price : 22.60
Bid-YTW : 5.48 %
TD.PF.I FixedReset Disc 77,910 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 22.33
Evaluated at bid price : 22.90
Bid-YTW : 5.05 %
SLF.PR.G FixedReset Ins Non 33,125 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.60
Bid-YTW : 9.23 %
HSE.PR.E FixedReset Disc 30,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.56 %
MFC.PR.Q FixedReset Ins Non 28,900 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.50
Bid-YTW : 6.80 %
BNS.PR.I FixedReset Disc 24,455 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 22.12
Evaluated at bid price : 22.70
Bid-YTW : 4.70 %
There were 22 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.G FixedReset Disc Quote: 19.50 – 20.11
Spot Rate : 0.6100
Average : 0.4302

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.68 %
CM.PR.P FixedReset Disc Quote: 17.52 – 17.93
Spot Rate : 0.4100
Average : 0.2494

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 17.52
Evaluated at bid price : 17.52
Bid-YTW : 5.58 %
EMA.PR.F FixedReset Disc Quote: 18.70 – 19.19
Spot Rate : 0.4900
Average : 0.3636

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 5.74 %
CM.PR.O FixedReset Disc Quote: 17.85 – 18.20
Spot Rate : 0.3500
Average : 0.2292

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 5.59 %
SLF.PR.G FixedReset Ins Non Quote: 14.60 – 15.00
Spot Rate : 0.4000
Average : 0.2877

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.60
Bid-YTW : 9.23 %
NA.PR.W FixedReset Disc Quote: 17.37 – 17.69
Spot Rate : 0.3200
Average : 0.2131

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-23
Maturity Price : 17.37
Evaluated at bid price : 17.37
Bid-YTW : 5.63 %
Market Action

May 22, 2019

PerpetualDiscounts now yield 5.45%, equivalent to 7.08% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.66%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 340bp, a slight (and perhaps spurious) narrowing from the 345bp reported May 15.

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 0.7667 % 2,084.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.7667 % 3,825.6
Floater 5.64 % 5.98 % 52,978 13.86 3 0.7667 % 2,204.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.3185 % 3,308.3
SplitShare 4.70 % 4.74 % 81,084 4.29 7 0.3185 % 3,950.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.3185 % 3,082.6
Perpetual-Premium 5.53 % 4.62 % 82,526 0.09 12 0.0099 % 2,953.2
Perpetual-Discount 5.44 % 5.45 % 75,236 14.71 20 -0.1343 % 3,104.4
FixedReset Disc 5.30 % 5.46 % 149,812 14.82 63 -0.2249 % 2,171.3
Deemed-Retractible 5.22 % 5.87 % 95,016 8.02 27 -0.0694 % 3,082.1
FloatingReset 3.95 % 4.32 % 44,655 2.58 4 0.1150 % 2,415.1
FixedReset Prem 5.11 % 3.84 % 239,191 2.10 21 -0.1131 % 2,586.3
FixedReset Bank Non 1.98 % 3.95 % 155,282 2.60 3 -0.0417 % 2,648.3
FixedReset Ins Non 5.07 % 6.76 % 94,703 8.23 22 0.1436 % 2,240.4
Performance Highlights
Issue Index Change Notes
BAM.PF.A FixedReset Disc -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 19.98
Evaluated at bid price : 19.98
Bid-YTW : 5.95 %
HSE.PR.C FixedReset Disc -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.71 %
RY.PR.M FixedReset Disc -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 19.99
Evaluated at bid price : 19.99
Bid-YTW : 5.28 %
BIP.PR.F FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.17 %
BIP.PR.A FixedReset Disc -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.58 %
GWO.PR.T Deemed-Retractible -1.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.65
Bid-YTW : 5.97 %
TRP.PR.C FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 12.86
Evaluated at bid price : 12.86
Bid-YTW : 6.05 %
BAM.PF.J FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 22.40
Evaluated at bid price : 23.05
Bid-YTW : 5.19 %
PWF.PR.K Perpetual-Discount -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 22.19
Evaluated at bid price : 22.47
Bid-YTW : 5.55 %
EMA.PR.F FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 5.74 %
IFC.PR.C FixedReset Ins Non 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.25
Bid-YTW : 7.92 %
MFC.PR.N FixedReset Ins Non 1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.12
Bid-YTW : 7.75 %
IFC.PR.A FixedReset Ins Non 1.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.13
Bid-YTW : 9.42 %
BAM.PR.K Floater 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 5.98 %
SLF.PR.G FixedReset Ins Non 2.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.80
Bid-YTW : 9.06 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PWF.PR.F Perpetual-Discount 209,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 23.58
Evaluated at bid price : 23.85
Bid-YTW : 5.55 %
GWO.PR.G Deemed-Retractible 129,542 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.95
Bid-YTW : 5.87 %
IAF.PR.G FixedReset Ins Non 89,864 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.50
Bid-YTW : 6.15 %
PWF.PR.K Perpetual-Discount 72,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 22.19
Evaluated at bid price : 22.47
Bid-YTW : 5.55 %
BMO.PR.F FixedReset Prem 53,600 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-05-25
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : 4.96 %
BIP.PR.F FixedReset Disc 45,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.17 %
There were 36 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: 19.99 – 20.49
Spot Rate : 0.5000
Average : 0.3634

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 19.99
Evaluated at bid price : 19.99
Bid-YTW : 5.28 %
BIP.PR.A FixedReset Disc Quote: 19.90 – 20.24
Spot Rate : 0.3400
Average : 0.2224

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.58 %
PWF.PR.F Perpetual-Discount Quote: 23.85 – 24.13
Spot Rate : 0.2800
Average : 0.1790

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 23.58
Evaluated at bid price : 23.85
Bid-YTW : 5.55 %
HSE.PR.C FixedReset Disc Quote: 18.01 – 18.46
Spot Rate : 0.4500
Average : 0.3575

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-22
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.71 %
BIK.PR.A FixedReset Prem Quote: 25.71 – 25.97
Spot Rate : 0.2600
Average : 0.1856

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.71
Bid-YTW : 5.41 %
PVS.PR.E SplitShare Quote: 25.60 – 25.88
Spot Rate : 0.2800
Average : 0.2075

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.60
Bid-YTW : 4.69 %
Market Action

May 21, 2019

Canadian bond yields rose dramatically today with the five-year Canada bond yield up 8bp to 1.65%. This may be related to a decrease in trade tensions:

The Canadian dollar strengthened to an 11-day high against the greenback on Tuesday as investors calculated that the threat of trade uncertainty would ease for Canada even as they ramped up on countries with close economic links to China.

Signs that Asia is already feeling the pinch from a trade conflict between the United States and China pushed the U.S. dollar to a four-week high against a basket of major currencies.

Investors have worried that U.S. restrictions on Chinese telecoms equipment maker Huawei Technologies Co Ltd could lead to an escalation in the trade tensions between Washington and Beijing.

Meanwhile, the United States has agreed to lift tariffs on steel and aluminum from Canada and Mexico. Canadian Foreign Minister Chrystia Freeland has since said that Canada will move quickly to ratify the new North American trade pact, called the United States-Mexico-Canada Agreement, or USMCA.

Or maybe not. Who knows?

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 0.1920 % 2,069.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1920 % 3,796.5
Floater 5.68 % 6.02 % 49,293 13.80 3 0.1920 % 2,187.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.4435 % 3,297.8
SplitShare 4.70 % 4.85 % 82,009 4.24 7 0.4435 % 3,938.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4435 % 3,072.8
Perpetual-Premium 5.53 % 2.96 % 85,816 0.09 12 -0.0362 % 2,952.9
Perpetual-Discount 5.43 % 5.45 % 71,934 14.75 20 -0.1232 % 3,108.6
FixedReset Disc 5.28 % 5.44 % 151,288 14.86 63 0.2205 % 2,176.2
Deemed-Retractible 5.22 % 5.81 % 95,400 8.04 27 0.1769 % 3,084.2
FloatingReset 3.96 % 4.30 % 44,569 2.58 4 0.0895 % 2,412.3
FixedReset Prem 5.11 % 3.84 % 242,759 2.10 21 0.0464 % 2,589.3
FixedReset Bank Non 1.98 % 4.01 % 153,976 2.60 3 0.0973 % 2,649.4
FixedReset Ins Non 5.08 % 6.75 % 93,907 8.23 22 0.4653 % 2,237.2
Performance Highlights
Issue Index Change Notes
TRP.PR.A FixedReset Disc -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 6.12 %
CU.PR.D Perpetual-Discount -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 22.21
Evaluated at bid price : 22.53
Bid-YTW : 5.44 %
GWO.PR.N FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.82
Bid-YTW : 8.82 %
GWO.PR.Q Deemed-Retractible 1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.90
Bid-YTW : 5.83 %
NA.PR.C FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 22.23
Evaluated at bid price : 22.74
Bid-YTW : 5.44 %
MFC.PR.N FixedReset Ins Non 1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.91
Bid-YTW : 7.89 %
BAM.PR.X FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 13.85
Evaluated at bid price : 13.85
Bid-YTW : 6.04 %
PVS.PR.E SplitShare 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.75
Bid-YTW : 4.50 %
TRP.PR.C FixedReset Disc 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 13.01
Evaluated at bid price : 13.01
Bid-YTW : 5.98 %
SLF.PR.I FixedReset Ins Non 1.47 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.75
Bid-YTW : 6.53 %
MFC.PR.G FixedReset Ins Non 1.60 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.35
Bid-YTW : 6.82 %
MFC.PR.M FixedReset Ins Non 1.65 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.50
Bid-YTW : 7.57 %
MFC.PR.L FixedReset Ins Non 1.99 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.45
Bid-YTW : 8.05 %
CU.PR.C FixedReset Disc 2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 17.86
Evaluated at bid price : 17.86
Bid-YTW : 5.51 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.B FixedReset Prem 121,215 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-02-25
Maturity Price : 25.00
Evaluated at bid price : 25.80
Bid-YTW : 3.62 %
CM.PR.O FixedReset Disc 54,023 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 18.14
Evaluated at bid price : 18.14
Bid-YTW : 5.50 %
IAF.PR.I FixedReset Ins Non 29,600 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.30
Bid-YTW : 6.06 %
RY.PR.J FixedReset Disc 26,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 5.26 %
BMO.PR.D FixedReset Disc 25,670 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 22.12
Evaluated at bid price : 22.54
Bid-YTW : 5.24 %
CM.PR.R FixedReset Disc 24,516 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 22.35
Evaluated at bid price : 22.89
Bid-YTW : 5.36 %
There were 21 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CCS.PR.C Deemed-Retractible Quote: 23.07 – 23.79
Spot Rate : 0.7200
Average : 0.5114

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.07
Bid-YTW : 6.12 %
BAM.PF.B FixedReset Disc Quote: 18.01 – 18.46
Spot Rate : 0.4500
Average : 0.2778

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.10 %
CU.PR.E Perpetual-Discount Quote: 22.70 – 23.19
Spot Rate : 0.4900
Average : 0.3405

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-21
Maturity Price : 22.33
Evaluated at bid price : 22.70
Bid-YTW : 5.40 %
IFC.PR.C FixedReset Ins Non Quote: 18.05 – 18.55
Spot Rate : 0.5000
Average : 0.3611

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.05
Bid-YTW : 8.06 %
IAF.PR.G FixedReset Ins Non Quote: 21.34 – 21.90
Spot Rate : 0.5600
Average : 0.4282

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.34
Bid-YTW : 6.23 %
IFC.PR.A FixedReset Ins Non Quote: 14.88 – 15.30
Spot Rate : 0.4200
Average : 0.3292

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.88
Bid-YTW : 9.62 %
Market Action

May 17, 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 0.5517 % 2,065.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.5517 % 3,789.2
Floater 5.69 % 6.05 % 50,994 13.76 3 0.5517 % 2,183.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0227 % 3,283.2
SplitShare 4.69 % 4.95 % 81,498 4.25 7 -0.0227 % 3,920.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0227 % 3,059.2
Perpetual-Premium 5.52 % 3.79 % 87,121 0.09 12 0.0857 % 2,953.9
Perpetual-Discount 5.42 % 5.40 % 72,417 14.80 20 0.4751 % 3,112.4
FixedReset Disc 5.29 % 5.40 % 149,209 14.87 63 0.0858 % 2,171.4
Deemed-Retractible 5.23 % 5.89 % 96,003 8.04 27 0.2725 % 3,078.8
FloatingReset 3.96 % 4.30 % 45,217 2.60 4 0.1281 % 2,410.2
FixedReset Prem 5.11 % 3.77 % 246,227 2.11 21 -0.0352 % 2,588.1
FixedReset Bank Non 1.98 % 3.98 % 153,026 2.61 3 -0.0278 % 2,646.8
FixedReset Ins Non 5.10 % 6.75 % 95,807 8.24 22 0.0722 % 2,226.8
Performance Highlights
Issue Index Change Notes
MFC.PR.G FixedReset Ins Non -1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.03
Bid-YTW : 6.97 %
TRP.PR.G FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 5.94 %
MFC.PR.M FixedReset Ins Non 1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.20
Bid-YTW : 7.71 %
GWO.PR.Q Deemed-Retractible 1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.65
Bid-YTW : 5.96 %
POW.PR.D Perpetual-Discount 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 5.56 %
PWF.PR.L Perpetual-Discount 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 5.49 %
PWF.PR.S Perpetual-Discount 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 22.03
Evaluated at bid price : 22.38
Bid-YTW : 5.39 %
CU.PR.D Perpetual-Discount 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 22.40
Evaluated at bid price : 22.80
Bid-YTW : 5.37 %
PWF.PR.K Perpetual-Discount 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 5.49 %
IFC.PR.E Deemed-Retractible 1.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.20
Bid-YTW : 5.72 %
BAM.PF.A FixedReset Disc 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 5.77 %
TRP.PR.A FixedReset Disc 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 5.97 %
BAM.PR.K Floater 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 6.08 %
BAM.PF.D Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 21.59
Evaluated at bid price : 21.59
Bid-YTW : 5.76 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.F FixedReset Prem 148,717 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-05-25
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : 4.95 %
BAM.PR.K Floater 37,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 6.08 %
TD.PF.I FixedReset Disc 30,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 22.30
Evaluated at bid price : 22.86
Bid-YTW : 5.02 %
TD.PF.K FixedReset Disc 21,550 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 21.23
Evaluated at bid price : 21.23
Bid-YTW : 5.15 %
GWO.PR.N FixedReset Ins Non 17,300 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.67
Bid-YTW : 8.88 %
BIP.PR.E FixedReset Disc 15,550 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.23 %
There were 5 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BAM.PR.M Perpetual-Discount Quote: 20.21 – 20.65
Spot Rate : 0.4400
Average : 0.2988

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 5.97 %
HSE.PR.G FixedReset Disc Quote: 19.86 – 20.22
Spot Rate : 0.3600
Average : 0.2508

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.50 %
MFC.PR.G FixedReset Ins Non Quote: 20.03 – 20.50
Spot Rate : 0.4700
Average : 0.3656

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.03
Bid-YTW : 6.97 %
MFC.PR.H FixedReset Ins Non Quote: 21.57 – 21.88
Spot Rate : 0.3100
Average : 0.2059

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.57
Bid-YTW : 6.36 %
MFC.PR.Q FixedReset Ins Non Quote: 20.58 – 20.88
Spot Rate : 0.3000
Average : 0.2007

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.58
Bid-YTW : 6.71 %
TRP.PR.D FixedReset Disc Quote: 17.12 – 17.45
Spot Rate : 0.3300
Average : 0.2432

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-17
Maturity Price : 17.12
Evaluated at bid price : 17.12
Bid-YTW : 5.83 %
Market Action

May 16, 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 0.8906 % 2,053.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.8906 % 3,768.4
Floater 5.72 % 6.07 % 47,292 13.73 3 0.8906 % 2,171.8
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1473 % 3,284.0
SplitShare 4.69 % 4.96 % 78,238 4.25 7 -0.1473 % 3,921.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1473 % 3,059.9
Perpetual-Premium 5.53 % 3.62 % 87,723 0.09 12 -0.0066 % 2,951.4
Perpetual-Discount 5.45 % 5.46 % 71,860 14.59 20 -0.0066 % 3,097.7
FixedReset Disc 5.29 % 5.41 % 150,309 14.90 63 0.0957 % 2,169.5
Deemed-Retractible 5.24 % 5.92 % 97,232 8.03 27 0.1730 % 3,070.4
FloatingReset 3.97 % 4.28 % 47,077 2.60 4 0.2697 % 2,407.1
FixedReset Prem 5.11 % 3.81 % 250,081 2.12 21 0.0501 % 2,589.0
FixedReset Bank Non 1.98 % 3.96 % 159,207 2.61 3 -0.1665 % 2,647.5
FixedReset Ins Non 5.10 % 6.80 % 97,487 8.24 22 0.3036 % 2,225.2
Performance Highlights
Issue Index Change Notes
BIP.PR.E FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.23 %
BIP.PR.F FixedReset Disc -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 21.52
Evaluated at bid price : 21.52
Bid-YTW : 6.02 %
HSE.PR.E FixedReset Disc 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.44 %
RY.PR.M FixedReset Disc 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 5.19 %
EMA.PR.F FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.74 %
BAM.PR.B Floater 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 6.07 %
PWF.PR.A Floater 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 13.30
Evaluated at bid price : 13.30
Bid-YTW : 5.23 %
IFC.PR.E Deemed-Retractible 1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.90
Bid-YTW : 5.88 %
TRP.PR.F FloatingReset 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 14.78
Evaluated at bid price : 14.78
Bid-YTW : 6.18 %
TD.PF.D FixedReset Disc 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 20.64
Evaluated at bid price : 20.64
Bid-YTW : 5.28 %
IFC.PR.F Deemed-Retractible 1.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.40
Bid-YTW : 5.72 %
IFC.PR.C FixedReset Ins Non 1.86 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.10
Bid-YTW : 7.97 %
MFC.PR.K FixedReset Ins Non 2.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.89
Bid-YTW : 7.43 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.F FixedReset Prem 84,143 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-05-25
Maturity Price : 25.00
Evaluated at bid price : 25.28
Bid-YTW : 4.96 %
CM.PR.T FixedReset Prem 59,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 23.23
Evaluated at bid price : 25.21
Bid-YTW : 4.87 %
RY.PR.H FixedReset Disc 57,326 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 18.78
Evaluated at bid price : 18.78
Bid-YTW : 5.15 %
MFC.PR.Q FixedReset Ins Non 51,785 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.43
Bid-YTW : 6.80 %
BMO.PR.Q FixedReset Bank Non 51,300 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.55
Bid-YTW : 4.25 %
TD.PF.B FixedReset Disc 38,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 5.28 %
There were 17 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.E FixedReset Disc Quote: 20.20 – 20.80
Spot Rate : 0.6000
Average : 0.4016

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.44 %
EMA.PR.F FixedReset Disc Quote: 18.50 – 19.04
Spot Rate : 0.5400
Average : 0.3748

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.74 %
NA.PR.W FixedReset Disc Quote: 17.50 – 17.88
Spot Rate : 0.3800
Average : 0.2279

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 5.53 %
BAM.PF.A FixedReset Disc Quote: 20.17 – 20.69
Spot Rate : 0.5200
Average : 0.3807

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-16
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 5.84 %
GWO.PR.Q Deemed-Retractible Quote: 23.40 – 23.80
Spot Rate : 0.4000
Average : 0.2793

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.40
Bid-YTW : 6.09 %
MFC.PR.B Deemed-Retractible Quote: 21.44 – 21.79
Spot Rate : 0.3500
Average : 0.2326

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.44
Bid-YTW : 6.50 %
Market Action

May 15, 2019

PerpetualDiscounts now yield 5.48%, equivalent to 7.12% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.69%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 345bp, a slight (and perhaps spurious) widening from the 340bp reported May 8.

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 -0.2775 % 2,035.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2775 % 3,735.2
Floater 5.77 % 6.14 % 49,288 13.63 3 -0.2775 % 2,152.6
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0453 % 3,288.8
SplitShare 4.68 % 4.89 % 75,216 4.25 7 -0.0453 % 3,927.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0453 % 3,064.4
Perpetual-Premium 5.53 % 3.45 % 88,936 0.09 12 -0.0329 % 2,951.6
Perpetual-Discount 5.45 % 5.48 % 74,230 14.63 20 -0.4662 % 3,097.9
FixedReset Disc 5.30 % 5.40 % 150,664 14.89 63 -0.3148 % 2,167.5
Deemed-Retractible 5.25 % 5.97 % 97,482 8.03 27 -0.4471 % 3,065.1
FloatingReset 3.98 % 4.32 % 47,239 2.60 4 -0.8152 % 2,400.6
FixedReset Prem 5.11 % 3.82 % 252,150 2.12 21 0.0575 % 2,587.7
FixedReset Bank Non 1.97 % 3.97 % 147,383 2.62 3 0.0833 % 2,652.0
FixedReset Ins Non 5.12 % 6.83 % 101,448 8.25 22 -0.5366 % 2,218.5
Performance Highlights
Issue Index Change Notes
IFC.PR.C FixedReset Ins Non -2.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.77
Bid-YTW : 8.20 %
TRP.PR.F FloatingReset -2.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 6.26 %
BAM.PR.T FixedReset Disc -2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 15.33
Evaluated at bid price : 15.33
Bid-YTW : 6.33 %
BAM.PR.R FixedReset Disc -2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 15.21
Evaluated at bid price : 15.21
Bid-YTW : 6.30 %
MFC.PR.K FixedReset Ins Non -2.38 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.48
Bid-YTW : 7.70 %
BAM.PF.F FixedReset Disc -2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 6.15 %
IFC.PR.A FixedReset Ins Non -2.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.80
Bid-YTW : 9.64 %
RY.PR.M FixedReset Disc -2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.24 %
TD.PF.D FixedReset Disc -1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.35 %
BAM.PF.E FixedReset Disc -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 16.97
Evaluated at bid price : 16.97
Bid-YTW : 6.22 %
PWF.PR.Z Perpetual-Discount -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 23.01
Evaluated at bid price : 23.32
Bid-YTW : 5.56 %
IFC.PR.E Deemed-Retractible -1.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.62
Bid-YTW : 6.02 %
BAM.PF.C Perpetual-Discount -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.98 %
IFC.PR.F Deemed-Retractible -1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.00
Bid-YTW : 5.93 %
BAM.PR.M Perpetual-Discount -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 5.97 %
BAM.PF.A FixedReset Disc -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.79 %
BAM.PF.B FixedReset Disc -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.05 %
CCS.PR.C Deemed-Retractible -1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.14 %
SLF.PR.J FloatingReset -1.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.60
Bid-YTW : 9.41 %
GWO.PR.Q Deemed-Retractible -1.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.45
Bid-YTW : 6.06 %
BAM.PR.K Floater -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 11.36
Evaluated at bid price : 11.36
Bid-YTW : 6.18 %
BAM.PR.Z FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 19.67
Evaluated at bid price : 19.67
Bid-YTW : 5.91 %
MFC.PR.B Deemed-Retractible -1.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.28
Bid-YTW : 6.59 %
SLF.PR.H FixedReset Ins Non -1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.05
Bid-YTW : 8.08 %
CM.PR.R FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 22.18
Evaluated at bid price : 22.63
Bid-YTW : 5.39 %
MFC.PR.F FixedReset Ins Non -1.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.86
Bid-YTW : 9.51 %
BIP.PR.F FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 21.47
Evaluated at bid price : 21.75
Bid-YTW : 5.94 %
EMA.PR.H FixedReset Disc 2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 22.74
Evaluated at bid price : 23.79
Bid-YTW : 5.12 %
Volume Highlights
Issue Index Shares
Traded		 Notes
IAF.PR.G FixedReset Ins Non 115,300 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.50
Bid-YTW : 6.10 %
BNS.PR.G FixedReset Prem 94,588 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 26.11
Bid-YTW : 3.53 %
CM.PR.R FixedReset Disc 62,520 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 22.18
Evaluated at bid price : 22.63
Bid-YTW : 5.39 %
RY.PR.H FixedReset Disc 60,720 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 5.17 %
MFC.PR.C Deemed-Retractible 57,900 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.60
Bid-YTW : 6.82 %
TRP.PR.B FixedReset Disc 57,850 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 12.24
Evaluated at bid price : 12.24
Bid-YTW : 5.85 %
There were 42 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CU.PR.G Perpetual-Discount Quote: 21.00 – 21.46
Spot Rate : 0.4600
Average : 0.2979

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.38 %
TD.PF.D FixedReset Disc Quote: 20.35 – 20.83
Spot Rate : 0.4800
Average : 0.3536

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.35 %
NA.PR.G FixedReset Disc Quote: 21.70 – 22.10
Spot Rate : 0.4000
Average : 0.2750

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-15
Maturity Price : 21.44
Evaluated at bid price : 21.70
Bid-YTW : 5.21 %
PWF.PR.H Perpetual-Premium Quote: 25.36 – 25.70
Spot Rate : 0.3400
Average : 0.2197

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-06-14
Maturity Price : 25.00
Evaluated at bid price : 25.36
Bid-YTW : -8.62 %
IAF.PR.B Deemed-Retractible Quote: 21.72 – 22.27
Spot Rate : 0.5500
Average : 0.4499

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.72
Bid-YTW : 6.42 %
TRP.PR.K FixedReset Prem Quote: 25.21 – 25.55
Spot Rate : 0.3400
Average : 0.2402

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.21
Bid-YTW : 4.55 %
Market Action

May 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 0.2504 % 2,041.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2504 % 3,745.6
Floater 5.76 % 6.10 % 49,003 13.70 3 0.2504 % 2,158.6
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0453 % 3,290.3
SplitShare 4.68 % 4.92 % 77,812 4.26 7 -0.0453 % 3,929.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0453 % 3,065.8
Perpetual-Premium 5.53 % 3.29 % 89,981 0.09 12 -0.0198 % 2,952.6
Perpetual-Discount 5.42 % 5.46 % 73,455 14.69 20 0.1542 % 3,112.4
FixedReset Disc 5.29 % 5.41 % 155,737 14.92 63 0.3024 % 2,174.3
Deemed-Retractible 5.23 % 5.82 % 92,738 8.05 27 0.2868 % 3,078.8
FloatingReset 3.95 % 4.37 % 48,000 2.60 4 0.9126 % 2,420.4
FixedReset Prem 5.11 % 3.78 % 252,811 2.12 21 0.0816 % 2,586.2
FixedReset Bank Non 1.98 % 4.00 % 147,543 2.62 3 0.0417 % 2,649.7
FixedReset Ins Non 5.09 % 6.81 % 98,246 8.25 22 0.1046 % 2,230.5
Performance Highlights
Issue Index Change Notes
GWO.PR.N FixedReset Ins Non -2.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.48
Bid-YTW : 9.03 %
TRP.PR.G FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 18.64
Evaluated at bid price : 18.64
Bid-YTW : 6.04 %
CU.PR.D Perpetual-Discount -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 22.19
Evaluated at bid price : 22.50
Bid-YTW : 5.44 %
BAM.PF.E FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 17.28
Evaluated at bid price : 17.28
Bid-YTW : 6.11 %
BIP.PR.D FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 22.40
Evaluated at bid price : 22.92
Bid-YTW : 5.85 %
RY.PR.S FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 21.34
Evaluated at bid price : 21.63
Bid-YTW : 4.84 %
CM.PR.P FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 17.72
Evaluated at bid price : 17.72
Bid-YTW : 5.45 %
TD.PF.A FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 18.37
Evaluated at bid price : 18.37
Bid-YTW : 5.26 %
IFC.PR.C FixedReset Ins Non 1.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.27
Bid-YTW : 7.85 %
BMO.PR.S FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 5.29 %
SLF.PR.J FloatingReset 1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.79
Bid-YTW : 9.25 %
CCS.PR.C Deemed-Retractible 1.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.30
Bid-YTW : 5.98 %
SLF.PR.I FixedReset Ins Non 1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.29
Bid-YTW : 6.76 %
BIP.PR.E FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.11 %
BAM.PF.A FixedReset Disc 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 5.70 %
IFC.PR.E Deemed-Retractible 1.69 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.00
Bid-YTW : 5.82 %
TRP.PR.F FloatingReset 3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 15.01
Evaluated at bid price : 15.01
Bid-YTW : 6.08 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.W Perpetual-Premium 86,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-06-13
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 3.29 %
MFC.PR.L FixedReset Ins Non 46,500 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.26
Bid-YTW : 8.12 %
IAF.PR.I FixedReset Ins Non 39,218 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.26
Bid-YTW : 6.04 %
CU.PR.I FixedReset Prem 38,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : 3.03 %
TD.PF.A FixedReset Disc 36,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 18.37
Evaluated at bid price : 18.37
Bid-YTW : 5.26 %
TRP.PR.K FixedReset Prem 34,800 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.39
Bid-YTW : 4.29 %
There were 32 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.A FixedReset Disc Quote: 12.51 – 13.15
Spot Rate : 0.6400
Average : 0.4512

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 12.51
Evaluated at bid price : 12.51
Bid-YTW : 6.49 %
EMA.PR.F FixedReset Disc Quote: 18.37 – 18.94
Spot Rate : 0.5700
Average : 0.3840

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 18.37
Evaluated at bid price : 18.37
Bid-YTW : 5.78 %
PWF.PR.A Floater Quote: 13.03 – 13.50
Spot Rate : 0.4700
Average : 0.3356

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 13.03
Evaluated at bid price : 13.03
Bid-YTW : 5.32 %
GWO.PR.N FixedReset Ins Non Quote: 14.48 – 14.88
Spot Rate : 0.4000
Average : 0.2708

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.48
Bid-YTW : 9.03 %
PWF.PR.P FixedReset Disc Quote: 13.60 – 13.99
Spot Rate : 0.3900
Average : 0.2626

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 13.60
Evaluated at bid price : 13.60
Bid-YTW : 5.73 %
TRP.PR.G FixedReset Disc Quote: 18.64 – 19.05
Spot Rate : 0.4100
Average : 0.3029

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2049-05-14
Maturity Price : 18.64
Evaluated at bid price : 18.64
Bid-YTW : 6.04 %