Category: Market Action

Market Action

May 8, 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 0.1969 % 2,113.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1969 % 4,113.8
Floater 7.29 % 7.77 % 61,397 11.59 3 0.1969 % 2,370.8
OpRet 0.00 % 0.00 % 0 0.00 0 0.0691 % 3,663.0
SplitShare 4.77 % 4.41 % 82,214 2.61 8 0.0691 % 4,374.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0691 % 3,413.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.4435 % 2,897.2
Perpetual-Discount 5.93 % 6.04 % 49,825 13.82 33 0.4435 % 3,159.2
FixedReset Disc 5.63 % 6.40 % 115,000 12.90 51 0.4044 % 2,800.2
Insurance Straight 5.84 % 5.95 % 67,462 13.90 21 0.4561 % 3,100.2
FloatingReset 5.72 % 5.76 % 32,962 14.20 3 1.3365 % 3,573.1
FixedReset Prem 6.42 % 5.41 % 122,926 3.45 8 0.1063 % 2,583.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4044 % 2,862.3
FixedReset Ins Non 5.43 % 5.97 % 63,748 13.85 14 1.8048 % 2,839.0
Performance Highlights
Issue Index Change Notes
PWF.PR.K Perpetual-Discount -2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.25 %
BIP.PR.E FixedReset Disc -2.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 22.74
Evaluated at bid price : 23.50
Bid-YTW : 6.41 %
CU.PR.C FixedReset Disc -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.57 %
ENB.PR.T FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 7.09 %
GWO.PR.I Insurance Straight -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.07 %
ENB.PR.N FixedReset Disc 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.86
Evaluated at bid price : 22.20
Bid-YTW : 6.62 %
FTS.PR.K FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.04
Evaluated at bid price : 21.04
Bid-YTW : 6.07 %
RY.PR.O Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 24.21
Evaluated at bid price : 24.50
Bid-YTW : 5.00 %
BIP.PR.A FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 22.82
Evaluated at bid price : 24.12
Bid-YTW : 6.59 %
FFH.PR.I FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 23.26
Evaluated at bid price : 23.95
Bid-YTW : 5.82 %
MFC.PR.L FixedReset Ins Non 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.68
Evaluated at bid price : 22.00
Bid-YTW : 5.97 %
BN.PF.F FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.90 %
GWO.PR.H Insurance Straight 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 20.82
Evaluated at bid price : 20.82
Bid-YTW : 5.91 %
GWO.PR.Y Insurance Straight 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.85 %
ENB.PF.E FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 7.14 %
BN.PR.X FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 7.07 %
BN.PF.E FixedReset Disc 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 7.03 %
BN.PR.T FixedReset Disc 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 7.18 %
ENB.PR.Y FixedReset Disc 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 7.09 %
FFH.PR.H FloatingReset 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 23.55
Evaluated at bid price : 23.85
Bid-YTW : 5.51 %
SLF.PR.C Insurance Straight 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 5.53 %
BN.PF.D Perpetual-Discount 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 6.23 %
MFC.PR.B Insurance Straight 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.75 %
PWF.PR.O Perpetual-Discount 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 24.05
Evaluated at bid price : 24.30
Bid-YTW : 6.01 %
FFH.PR.J FloatingReset 2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 23.81
Evaluated at bid price : 24.10
Bid-YTW : 5.76 %
FTS.PR.H FixedReset Disc 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 6.66 %
BN.PF.C Perpetual-Discount 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.25 %
IFC.PR.I Insurance Straight 2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 22.73
Evaluated at bid price : 23.15
Bid-YTW : 5.89 %
NA.PR.S FixedReset Disc 3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 23.25
Evaluated at bid price : 25.00
Bid-YTW : 5.37 %
MFC.PR.M FixedReset Ins Non 3.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.88
Evaluated at bid price : 22.32
Bid-YTW : 5.98 %
PWF.PR.E Perpetual-Discount 4.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 22.88
Evaluated at bid price : 23.15
Bid-YTW : 5.98 %
IFC.PR.C FixedReset Ins Non 4.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.24 %
IFC.PR.A FixedReset Ins Non 18.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 5.88 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PF.C FixedReset Disc 131,810 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 7.16 %
RY.PR.J FixedReset Disc 100,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.96
Bid-YTW : 4.94 %
SLF.PR.G FixedReset Ins Non 60,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 6.70 %
FTS.PR.K FixedReset Disc 53,450 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.04
Evaluated at bid price : 21.04
Bid-YTW : 6.07 %
BN.PR.T FixedReset Disc 51,273 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 7.18 %
MFC.PR.M FixedReset Ins Non 41,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 21.88
Evaluated at bid price : 22.32
Bid-YTW : 5.98 %
There were 11 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
CU.PR.F Perpetual-Discount Quote: 18.90 – 23.88
Spot Rate : 4.9800
Average : 4.4193

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 5.97 %
GWO.PR.Y Insurance Straight Quote: 19.50 – 21.00
Spot Rate : 1.5000
Average : 1.0473

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.85 %
PWF.PR.K Perpetual-Discount Quote: 20.00 – 20.95
Spot Rate : 0.9500
Average : 0.5968

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.25 %
BN.PF.A FixedReset Disc Quote: 23.45 – 24.30
Spot Rate : 0.8500
Average : 0.5086

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 22.65
Evaluated at bid price : 23.45
Bid-YTW : 6.40 %
TD.PF.A FixedReset Disc Quote: 23.70 – 24.80
Spot Rate : 1.1000
Average : 0.8247

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 22.67
Evaluated at bid price : 23.70
Bid-YTW : 5.28 %
ENB.PF.E FixedReset Disc Quote: 19.40 – 20.15
Spot Rate : 0.7500
Average : 0.4990

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-08
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 7.14 %
Market Action

May 7, 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 0.4236 % 2,109.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4236 % 4,105.7
Floater 7.31 % 7.81 % 63,508 11.55 3 0.4236 % 2,366.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0888 % 3,660.5
SplitShare 4.78 % 4.40 % 83,159 2.61 8 -0.0888 % 4,371.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0888 % 3,410.7
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.2009 % 2,884.4
Perpetual-Discount 5.96 % 6.08 % 50,409 13.76 33 -0.2009 % 3,145.3
FixedReset Disc 5.65 % 6.40 % 115,333 12.82 51 0.3348 % 2,788.9
Insurance Straight 5.87 % 5.97 % 66,024 13.89 21 0.4108 % 3,086.1
FloatingReset 5.79 % 5.88 % 32,942 14.01 3 0.2364 % 3,525.9
FixedReset Prem 6.43 % 5.27 % 124,554 3.41 8 0.1258 % 2,581.1
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3348 % 2,850.8
FixedReset Ins Non 5.53 % 6.24 % 64,486 13.48 14 -0.0686 % 2,788.7
Performance Highlights
Issue Index Change Notes
CU.PR.F Perpetual-Discount -16.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.94 %
SLF.PR.G FixedReset Ins Non -3.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 6.70 %
IFC.PR.F Insurance Straight -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 21.58
Evaluated at bid price : 21.95
Bid-YTW : 6.11 %
FTS.PR.H FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 6.82 %
ENB.PR.F FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.28 %
ENB.PR.T FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 7.00 %
ENB.PF.C FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 7.16 %
ENB.PR.Y FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 18.58
Evaluated at bid price : 18.58
Bid-YTW : 7.18 %
BN.PR.M Perpetual-Discount 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 19.19
Evaluated at bid price : 19.19
Bid-YTW : 6.28 %
ENB.PR.N FixedReset Disc 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 21.70
Evaluated at bid price : 21.98
Bid-YTW : 6.69 %
PWF.PR.P FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 15.35
Evaluated at bid price : 15.35
Bid-YTW : 7.01 %
BN.PR.R FixedReset Disc 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 7.17 %
BN.PF.E FixedReset Disc 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 18.91
Evaluated at bid price : 18.91
Bid-YTW : 7.12 %
POW.PR.C Perpetual-Discount 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 23.85
Evaluated at bid price : 24.10
Bid-YTW : 6.08 %
SLF.PR.E Insurance Straight 1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 20.16
Evaluated at bid price : 20.16
Bid-YTW : 5.66 %
CU.PR.C FixedReset Disc 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.44 %
GWO.PR.N FixedReset Ins Non 2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 15.31
Evaluated at bid price : 15.31
Bid-YTW : 6.58 %
CU.PR.J Perpetual-Discount 2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.95 %
SLF.PR.C Insurance Straight 2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.61 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BN.PF.G FixedReset Disc 49,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 19.66
Evaluated at bid price : 19.66
Bid-YTW : 7.23 %
RY.PR.M FixedReset Disc 48,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 23.80
Evaluated at bid price : 24.47
Bid-YTW : 5.44 %
MFC.PR.I FixedReset Ins Non 37,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 23.35
Evaluated at bid price : 24.60
Bid-YTW : 5.84 %
FFH.PR.G FixedReset Disc 31,418 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 22.79
Evaluated at bid price : 23.60
Bid-YTW : 5.62 %
POW.PR.C Perpetual-Discount 26,596 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 23.85
Evaluated at bid price : 24.10
Bid-YTW : 6.08 %
FFH.PR.I FixedReset Disc 22,390 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 22.99
Evaluated at bid price : 23.68
Bid-YTW : 5.89 %
There were 2 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
CU.PR.F Perpetual-Discount Quote: 19.00 – 23.88
Spot Rate : 4.8800
Average : 3.8046

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.94 %
POW.PR.B Perpetual-Discount Quote: 22.20 – 24.95
Spot Rate : 2.7500
Average : 1.6796

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 6.08 %
SLF.PR.G FixedReset Ins Non Quote: 15.80 – 18.60
Spot Rate : 2.8000
Average : 1.8005

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 6.70 %
FTS.PR.K FixedReset Disc Quote: 20.83 – 22.84
Spot Rate : 2.0100
Average : 1.1243

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 20.83
Evaluated at bid price : 20.83
Bid-YTW : 6.14 %
FTS.PR.H FixedReset Disc Quote: 15.75 – 17.40
Spot Rate : 1.6500
Average : 0.9856

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 6.82 %
CU.PR.J Perpetual-Discount Quote: 20.00 – 21.60
Spot Rate : 1.6000
Average : 1.0331

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-07
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.95 %
Market Action

May 6, 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 0.6824 % 2,100.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.6824 % 4,088.4
Floater 7.34 % 7.86 % 64,572 11.50 3 0.6824 % 2,356.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.2374 % 3,663.7
SplitShare 4.77 % 4.47 % 83,820 2.62 8 0.2374 % 4,375.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2374 % 3,413.8
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.6932 % 2,890.2
Perpetual-Discount 5.95 % 6.09 % 49,477 13.77 33 0.6932 % 3,151.6
FixedReset Disc 5.67 % 6.34 % 115,774 12.88 51 0.2673 % 2,779.6
Insurance Straight 5.89 % 5.98 % 66,503 13.86 21 0.1709 % 3,073.5
FloatingReset 5.81 % 5.84 % 31,403 14.07 3 0.3956 % 3,517.6
FixedReset Prem 6.44 % 5.30 % 128,676 3.41 8 0.1939 % 2,577.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2673 % 2,841.3
FixedReset Ins Non 5.52 % 6.24 % 64,712 13.55 14 -0.6879 % 2,790.6
Performance Highlights
Issue Index Change Notes
IFC.PR.A FixedReset Ins Non -13.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.01 %
CU.PR.H Perpetual-Discount -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 5.91 %
GWO.PR.S Insurance Straight -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 21.50
Evaluated at bid price : 21.76
Bid-YTW : 6.11 %
BN.PF.E FixedReset Disc -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 7.24 %
FTS.PR.H FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 15.93
Evaluated at bid price : 15.93
Bid-YTW : 6.75 %
MFC.PR.Q FixedReset Ins Non 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 22.81
Evaluated at bid price : 23.70
Bid-YTW : 5.82 %
BN.PR.K Floater 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 11.22
Evaluated at bid price : 11.22
Bid-YTW : 7.86 %
PWF.PR.O Perpetual-Discount 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 6.08 %
PWF.PR.S Perpetual-Discount 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 6.04 %
IFC.PR.K Insurance Straight 1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 21.84
Evaluated at bid price : 22.20
Bid-YTW : 5.98 %
BIP.PR.E FixedReset Disc 2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 22.99
Evaluated at bid price : 24.00
Bid-YTW : 6.26 %
SLF.PR.E Insurance Straight 2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 19.81
Evaluated at bid price : 19.81
Bid-YTW : 5.76 %
BIP.PR.F FixedReset Disc 3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 22.65
Evaluated at bid price : 23.50
Bid-YTW : 6.33 %
SLF.PR.G FixedReset Ins Non 3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 6.45 %
CU.PR.F Perpetual-Discount 20.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 4.91 %
Volume Highlights
Issue Index Shares
Traded		 Notes
FTS.PR.M FixedReset Disc 456,580 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.52 %
MFC.PR.M FixedReset Ins Non 100,773 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.24 %
TD.PF.D FixedReset Disc 88,192 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 23.77
Evaluated at bid price : 24.67
Bid-YTW : 5.62 %
ENB.PF.E FixedReset Disc 38,586 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 7.27 %
BN.PR.T FixedReset Disc 35,064 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 17.13
Evaluated at bid price : 17.13
Bid-YTW : 7.30 %
ENB.PR.B FixedReset Disc 10,156 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.40 %
There were 1 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
IFC.PR.A FixedReset Ins Non Quote: 16.61 – 20.30
Spot Rate : 3.6900
Average : 2.2153

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.01 %
PWF.PR.E Perpetual-Discount Quote: 22.20 – 23.70
Spot Rate : 1.5000
Average : 1.0899

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 6.24 %
GWO.PR.I Insurance Straight Quote: 18.85 – 20.10
Spot Rate : 1.2500
Average : 0.8487

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 6.05 %
MFC.PR.L FixedReset Ins Non Quote: 21.75 – 23.79
Spot Rate : 2.0400
Average : 1.6512

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 6.03 %
SLF.PR.D Insurance Straight Quote: 19.90 – 21.10
Spot Rate : 1.2000
Average : 0.8371

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 5.67 %
GWO.PR.H Insurance Straight Quote: 20.42 – 21.48
Spot Rate : 1.0600
Average : 0.7174

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-06
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 6.02 %
Market Action

May 5, 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 -0.2835 % 2,086.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2835 % 4,060.7
Floater 7.39 % 7.91 % 67,295 11.45 3 -0.2835 % 2,340.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.2082 % 3,655.1
SplitShare 4.79 % 4.51 % 83,640 2.62 8 0.2082 % 4,364.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2082 % 3,405.7
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.5248 % 2,870.3
Perpetual-Discount 5.99 % 6.12 % 49,411 13.74 33 0.5248 % 3,129.9
FixedReset Disc 5.68 % 6.45 % 117,174 12.78 51 0.3726 % 2,772.2
Insurance Straight 5.90 % 6.00 % 69,071 13.85 21 0.0157 % 3,068.2
FloatingReset 5.83 % 5.86 % 32,491 14.05 3 0.2379 % 3,503.8
FixedReset Prem 6.45 % 5.41 % 133,407 3.46 8 0.2673 % 2,572.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3726 % 2,833.7
FixedReset Ins Non 5.49 % 6.03 % 65,369 13.71 14 -0.0511 % 2,809.9
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -3.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 5.91 %
NA.PR.S FixedReset Disc -3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.92
Evaluated at bid price : 24.16
Bid-YTW : 5.59 %
SLF.PR.G FixedReset Ins Non -2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 6.69 %
GWO.PR.I Insurance Straight -2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 18.81
Evaluated at bid price : 18.81
Bid-YTW : 6.07 %
PWF.PR.E Perpetual-Discount -1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 6.24 %
BN.PR.K Floater -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 11.07
Evaluated at bid price : 11.07
Bid-YTW : 7.97 %
MFC.PR.Q FixedReset Ins Non -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.66
Evaluated at bid price : 23.41
Bid-YTW : 5.90 %
CU.PR.I FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 24.65
Bid-YTW : 6.45 %
ENB.PR.A Perpetual-Discount 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.66
Evaluated at bid price : 22.90
Bid-YTW : 6.11 %
ENB.PR.F FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 7.33 %
BN.PF.I FixedReset Disc 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 23.67
Evaluated at bid price : 24.00
Bid-YTW : 6.83 %
SLF.PR.D Insurance Straight 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.96
Evaluated at bid price : 19.96
Bid-YTW : 5.65 %
CU.PR.H Perpetual-Discount 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.83 %
ENB.PF.E FixedReset Disc 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 7.28 %
NA.PR.K FixedReset Prem 1.48 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2029-05-01
Maturity Price : 25.00
Evaluated at bid price : 27.40
Bid-YTW : 5.04 %
BN.PF.E FixedReset Disc 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.16 %
BN.PF.J FixedReset Disc 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 23.03
Evaluated at bid price : 24.00
Bid-YTW : 6.25 %
ENB.PF.C FixedReset Disc 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 7.24 %
IFC.PR.F Insurance Straight 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 21.96
Evaluated at bid price : 22.40
Bid-YTW : 5.97 %
ENB.PR.H FixedReset Disc 2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.76
Evaluated at bid price : 19.76
Bid-YTW : 6.73 %
BIP.PR.A FixedReset Disc 4.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.77
Evaluated at bid price : 24.00
Bid-YTW : 6.62 %
CU.PR.G Perpetual-Discount 18.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 5.94 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PWF.PR.P FixedReset Disc 60,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 15.15
Evaluated at bid price : 15.15
Bid-YTW : 7.10 %
ENB.PF.E FixedReset Disc 57,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 7.28 %
ENB.PF.C FixedReset Disc 42,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 7.24 %
PVS.PR.M SplitShare 19,900 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2031-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.32
Bid-YTW : 5.09 %
FFH.PR.G FixedReset Disc 14,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.42
Evaluated at bid price : 23.30
Bid-YTW : 5.69 %
MFC.PR.C Insurance Straight 12,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 5.82 %
There were 3 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
MFC.PR.L FixedReset Ins Non Quote: 21.75 – 23.79
Spot Rate : 2.0400
Average : 1.2249

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 6.03 %
CU.PR.F Perpetual-Discount Quote: 19.00 – 23.88
Spot Rate : 4.8800
Average : 4.4079

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.93 %
TD.PF.A FixedReset Disc Quote: 23.70 – 24.80
Spot Rate : 1.1000
Average : 0.6662

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.67
Evaluated at bid price : 23.70
Bid-YTW : 5.28 %
NA.PR.S FixedReset Disc Quote: 24.16 – 25.10
Spot Rate : 0.9400
Average : 0.5572

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 22.92
Evaluated at bid price : 24.16
Bid-YTW : 5.59 %
ENB.PR.B FixedReset Disc Quote: 18.04 – 18.95
Spot Rate : 0.9100
Average : 0.5373

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-05
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 7.38 %
PVS.PR.K SplitShare Quote: 25.15 – 26.00
Spot Rate : 0.8500
Average : 0.5006

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.15
Bid-YTW : 4.51 %
Market Action

May 2, 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 1.2342 % 2,091.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.2342 % 4,072.3
Floater 7.37 % 7.86 % 69,922 11.51 3 1.2342 % 2,346.9
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0149 % 3,647.5
SplitShare 4.80 % 4.91 % 83,708 2.63 8 -0.0149 % 4,355.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0149 % 3,398.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.5108 % 2,855.3
Perpetual-Discount 6.02 % 6.11 % 51,307 13.75 33 -0.5108 % 3,113.6
FixedReset Disc 5.69 % 6.56 % 115,410 12.59 49 0.3071 % 2,761.9
Insurance Straight 5.90 % 6.01 % 70,005 13.83 21 0.2435 % 3,067.7
FloatingReset 5.89 % 5.92 % 33,816 13.95 3 0.5582 % 3,495.4
FixedReset Prem 6.38 % 5.46 % 139,202 3.46 10 0.0430 % 2,566.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3071 % 2,823.2
FixedReset Ins Non 5.60 % 6.02 % 66,920 13.75 12 0.5349 % 2,811.4
Performance Highlights
Issue Index Change Notes
CU.PR.F Perpetual-Discount -16.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.93 %
MFC.PR.M FixedReset Ins Non -2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.23 %
ENB.PR.H FixedReset Disc -2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.91 %
IFC.PR.K Insurance Straight -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.40
Evaluated at bid price : 21.70
Bid-YTW : 6.12 %
CU.PR.C FixedReset Disc -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.56 %
IFC.PR.E Insurance Straight -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.75
Evaluated at bid price : 22.10
Bid-YTW : 5.94 %
MFC.PR.F FixedReset Ins Non -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 6.67 %
PWF.PR.O Perpetual-Discount -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 23.22
Evaluated at bid price : 23.52
Bid-YTW : 6.20 %
GWO.PR.H Insurance Straight -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 20.27
Evaluated at bid price : 20.27
Bid-YTW : 6.06 %
PWF.PR.E Perpetual-Discount -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 22.39
Evaluated at bid price : 22.65
Bid-YTW : 6.11 %
BIP.PR.F FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 22.19
Evaluated at bid price : 22.70
Bid-YTW : 6.57 %
BN.PF.E FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.27 %
CU.PR.H Perpetual-Discount 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 5.91 %
ENB.PF.E FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 18.74
Evaluated at bid price : 18.74
Bid-YTW : 7.39 %
BN.PF.D Perpetual-Discount 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.37 %
SLF.PR.D Insurance Straight 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.72 %
MFC.PR.B Insurance Straight 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 5.89 %
ELF.PR.F Perpetual-Discount 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 6.07 %
PWF.PR.P FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 15.10
Evaluated at bid price : 15.10
Bid-YTW : 7.12 %
PWF.PR.K Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.08 %
FTS.PR.J Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.88 %
GWO.PR.G Insurance Straight 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.59
Evaluated at bid price : 21.85
Bid-YTW : 6.02 %
IFC.PR.G FixedReset Ins Non 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 22.95
Evaluated at bid price : 24.00
Bid-YTW : 5.73 %
MFC.PR.Q FixedReset Ins Non 1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 22.81
Evaluated at bid price : 23.70
Bid-YTW : 5.82 %
ENB.PR.D FixedReset Disc 1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 18.39
Evaluated at bid price : 18.39
Bid-YTW : 7.26 %
BIP.PR.E FixedReset Disc 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 22.74
Evaluated at bid price : 23.50
Bid-YTW : 6.41 %
BN.PF.F FixedReset Disc 3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 20.76
Evaluated at bid price : 20.76
Bid-YTW : 6.99 %
BN.PR.K Floater 3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 11.21
Evaluated at bid price : 11.21
Bid-YTW : 7.86 %
BN.PF.J FixedReset Disc 3.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 22.83
Evaluated at bid price : 23.60
Bid-YTW : 6.37 %
SLF.PR.E Insurance Straight 4.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.67 %
IFC.PR.A FixedReset Ins Non 4.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.26
Evaluated at bid price : 19.26
Bid-YTW : 6.02 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.Q FixedReset Disc 53,902 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 23.79
Evaluated at bid price : 24.67
Bid-YTW : 5.62 %
POW.PR.B Perpetual-Discount 25,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.98
Evaluated at bid price : 22.21
Bid-YTW : 6.08 %
ENB.PR.N FixedReset Disc 15,955 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.42
Evaluated at bid price : 21.42
Bid-YTW : 6.88 %
PVS.PR.M SplitShare 12,502 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2031-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.31
Bid-YTW : 5.08 %
FFH.PR.G FixedReset Disc 11,002 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 22.45
Evaluated at bid price : 23.35
Bid-YTW : 5.67 %
GWO.PR.M Insurance Straight 10,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 6.11 %
There were 2 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
CU.PR.F Perpetual-Discount Quote: 19.00 – 23.88
Spot Rate : 4.8800
Average : 3.8902

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.93 %
BN.PF.E FixedReset Disc Quote: 18.50 – 20.99
Spot Rate : 2.4900
Average : 1.5402

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.27 %
SLF.PR.G FixedReset Ins Non Quote: 16.20 – 18.60
Spot Rate : 2.4000
Average : 1.5517

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 16.20
Evaluated at bid price : 16.20
Bid-YTW : 6.52 %
IFC.PR.F Insurance Straight Quote: 21.95 – 24.00
Spot Rate : 2.0500
Average : 1.3466

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 21.58
Evaluated at bid price : 21.95
Bid-YTW : 6.10 %
CU.PR.C FixedReset Disc Quote: 19.85 – 22.11
Spot Rate : 2.2600
Average : 1.5868

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.56 %
BN.PR.R FixedReset Disc Quote: 17.12 – 18.90
Spot Rate : 1.7800
Average : 1.1143

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-02
Maturity Price : 17.12
Evaluated at bid price : 17.12
Bid-YTW : 7.30 %
Market Action

May 1, 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 0.7519 % 2,066.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.7519 % 4,022.6
Floater 7.46 % 7.90 % 71,068 11.47 3 0.7519 % 2,318.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.1539 % 3,648.0
SplitShare 4.79 % 4.66 % 84,346 2.63 8 0.1539 % 4,356.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1539 % 3,399.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.6867 % 2,870.0
Perpetual-Discount 5.99 % 6.13 % 51,883 13.71 33 0.6867 % 3,129.6
FixedReset Disc 5.71 % 6.56 % 116,447 12.66 49 0.6618 % 2,753.4
Insurance Straight 5.92 % 6.00 % 70,396 13.87 21 0.4803 % 3,060.3
FloatingReset 5.93 % 5.96 % 35,200 13.90 3 0.3521 % 3,476.0
FixedReset Prem 6.38 % 5.45 % 141,469 13.66 10 0.4439 % 2,564.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.6618 % 2,814.5
FixedReset Ins Non 5.63 % 6.03 % 66,981 13.61 12 2.8332 % 2,796.4
Performance Highlights
Issue Index Change Notes
CU.PR.G Perpetual-Discount -14.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 7.04 %
BN.PF.J FixedReset Disc -3.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.32
Evaluated at bid price : 22.75
Bid-YTW : 6.63 %
BN.PF.F FixedReset Disc -2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 7.20 %
IFC.PR.F Insurance Straight -1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.58
Evaluated at bid price : 21.95
Bid-YTW : 6.10 %
GWO.PR.N FixedReset Ins Non 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 15.12
Evaluated at bid price : 15.12
Bid-YTW : 6.66 %
ENB.PR.P FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 7.25 %
MFC.PR.Q FixedReset Ins Non 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.57
Evaluated at bid price : 23.25
Bid-YTW : 5.94 %
BIP.PR.F FixedReset Disc 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.34
Evaluated at bid price : 22.95
Bid-YTW : 6.49 %
NA.PR.S FixedReset Prem 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.24
Evaluated at bid price : 25.00
Bid-YTW : 5.36 %
GWO.PR.H Insurance Straight 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.99 %
CM.PR.S FixedReset Prem 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 25.20
Evaluated at bid price : 25.20
Bid-YTW : 5.35 %
GWO.PR.I Insurance Straight 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.92 %
FFH.PR.I FixedReset Disc 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.79
Evaluated at bid price : 23.45
Bid-YTW : 5.94 %
MFC.PR.F FixedReset Ins Non 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 15.60
Evaluated at bid price : 15.60
Bid-YTW : 6.59 %
ENB.PF.E FixedReset Disc 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 7.46 %
PWF.PR.E Perpetual-Discount 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.66
Evaluated at bid price : 22.90
Bid-YTW : 6.04 %
ENB.PR.D FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 7.40 %
MFC.PR.L FixedReset Ins Non 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.52
Evaluated at bid price : 21.52
Bid-YTW : 6.11 %
PWF.PR.H Perpetual-Discount 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.30
Evaluated at bid price : 23.58
Bid-YTW : 6.13 %
ENB.PR.Y FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.32 %
PWF.PR.K Perpetual-Discount 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 6.17 %
GWO.PR.R Insurance Straight 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.02 %
IFC.PR.G FixedReset Ins Non 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.76
Evaluated at bid price : 23.60
Bid-YTW : 5.84 %
BN.PF.G FixedReset Disc 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.54
Evaluated at bid price : 19.54
Bid-YTW : 7.27 %
PWF.PR.S Perpetual-Discount 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.05 %
PWF.PR.F Perpetual-Discount 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.47
Evaluated at bid price : 21.73
Bid-YTW : 6.07 %
BN.PR.B Floater 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 7.90 %
CU.PR.D Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 6.00 %
BN.PR.M Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.35 %
ENB.PF.A FixedReset Disc 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 7.33 %
IFC.PR.E Insurance Straight 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.05
Evaluated at bid price : 22.45
Bid-YTW : 5.84 %
BN.PR.T FixedReset Disc 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.99
Evaluated at bid price : 16.99
Bid-YTW : 7.35 %
ENB.PR.T FixedReset Disc 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.98
Evaluated at bid price : 19.98
Bid-YTW : 7.16 %
MFC.PR.J FixedReset Ins Non 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.13
Evaluated at bid price : 24.31
Bid-YTW : 5.74 %
BN.PR.X FixedReset Disc 1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.08
Evaluated at bid price : 16.08
Bid-YTW : 7.27 %
BN.PF.A FixedReset Disc 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.51
Evaluated at bid price : 23.20
Bid-YTW : 6.46 %
POW.PR.D Perpetual-Discount 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.90 %
ENB.PR.B FixedReset Disc 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 7.43 %
BN.PR.R FixedReset Disc 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 17.02
Evaluated at bid price : 17.02
Bid-YTW : 7.34 %
ENB.PF.K FixedReset Disc 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.00
Evaluated at bid price : 24.01
Bid-YTW : 6.35 %
MFC.PR.I FixedReset Ins Non 2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.32
Evaluated at bid price : 24.55
Bid-YTW : 5.84 %
SLF.PR.G FixedReset Ins Non 2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.21
Evaluated at bid price : 16.21
Bid-YTW : 6.52 %
ENB.PR.H FixedReset Disc 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.73 %
IFC.PR.K Insurance Straight 2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.82
Evaluated at bid price : 22.17
Bid-YTW : 5.98 %
MFC.PR.M FixedReset Ins Non 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.74
Evaluated at bid price : 22.12
Bid-YTW : 6.03 %
CU.PR.C FixedReset Disc 3.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.44 %
BN.PR.N Perpetual-Discount 5.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.34 %
IFC.PR.C FixedReset Ins Non 8.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.52 %
IFC.PR.A FixedReset Ins Non 10.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 6.31 %
CU.PR.F Perpetual-Discount 23.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 4.90 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.J FixedReset Disc 3,126,503 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 4.56 %
TD.PF.E FixedReset Disc 45,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.81
Evaluated at bid price : 24.50
Bid-YTW : 5.71 %
PVS.PR.L SplitShare 36,169 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.55
Bid-YTW : 5.23 %
BN.PF.E FixedReset Disc 32,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 7.19 %
ENB.PR.T FixedReset Disc 26,220 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.98
Evaluated at bid price : 19.98
Bid-YTW : 7.16 %
PVS.PR.J SplitShare 14,800 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 25.01
Bid-YTW : 4.66 %
There were 6 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
CU.PR.G Perpetual-Discount Quote: 16.00 – 19.30
Spot Rate : 3.3000
Average : 1.8663

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 7.04 %
SLF.PR.C Insurance Straight Quote: 19.60 – 21.45
Spot Rate : 1.8500
Average : 1.0850

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.75 %
BN.PR.Z FixedReset Disc Quote: 21.45 – 22.90
Spot Rate : 1.4500
Average : 0.8108

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.89 %
MFC.PR.M FixedReset Ins Non Quote: 22.12 – 25.00
Spot Rate : 2.8800
Average : 2.2860

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.74
Evaluated at bid price : 22.12
Bid-YTW : 6.03 %
TD.PF.J FixedReset Prem Quote: 25.26 – 26.26
Spot Rate : 1.0000
Average : 0.5912

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2028-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : 5.41 %
BN.PF.G FixedReset Disc Quote: 19.54 – 20.48
Spot Rate : 0.9400
Average : 0.5619

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.54
Evaluated at bid price : 19.54
Bid-YTW : 7.27 %
Market Action

April 30, 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 -1.4253 % 2,051.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.4253 % 3,992.6
Floater 7.52 % 8.02 % 71,917 11.34 3 -1.4253 % 2,300.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.1193 % 3,642.4
SplitShare 4.80 % 4.64 % 64,362 1.73 8 0.1193 % 4,349.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1193 % 3,393.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0456 % 2,850.4
Perpetual-Discount 6.03 % 6.15 % 52,438 13.67 33 0.0456 % 3,108.2
FixedReset Disc 5.74 % 6.60 % 117,464 12.68 49 0.1553 % 2,735.3
Insurance Straight 5.94 % 6.04 % 71,365 13.81 21 0.2316 % 3,045.7
FloatingReset 5.95 % 5.96 % 36,646 13.90 3 -0.3827 % 3,463.8
FixedReset Prem 6.41 % 5.44 % 143,736 13.68 10 0.1377 % 2,553.6
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1553 % 2,796.0
FixedReset Ins Non 5.79 % 6.20 % 67,184 13.37 12 -0.1157 % 2,719.4
Performance Highlights
Issue Index Change Notes
IFC.PR.C FixedReset Ins Non -3.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.07 %
BN.PR.N Perpetual-Discount -3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.69 %
PWF.PR.A Floater -2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.83 %
BN.PR.K Floater -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 8.12 %
PWF.PR.K Perpetual-Discount -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.93
Evaluated at bid price : 19.93
Bid-YTW : 6.26 %
ENB.PR.D FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 7.51 %
IFC.PR.K Insurance Straight -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 21.32
Evaluated at bid price : 21.60
Bid-YTW : 6.14 %
BN.PR.X FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 7.40 %
GWO.PR.I Insurance Straight 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 6.00 %
BIP.PR.B FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 6.21 %
IFC.PR.F Insurance Straight 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 21.89
Evaluated at bid price : 22.31
Bid-YTW : 5.99 %
MFC.PR.C Insurance Straight 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.32
Evaluated at bid price : 19.32
Bid-YTW : 5.91 %
ENB.PR.A Perpetual-Discount 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 22.60
Evaluated at bid price : 22.85
Bid-YTW : 6.12 %
BN.PF.I FixedReset Disc 1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 23.20
Evaluated at bid price : 23.55
Bid-YTW : 6.95 %
MFC.PR.I FixedReset Ins Non 2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 23.04
Evaluated at bid price : 23.93
Bid-YTW : 6.02 %
POW.PR.D Perpetual-Discount 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.01 %
BN.PF.F FixedReset Disc 2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 7.00 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PF.E FixedReset Disc 125,810 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.31
Evaluated at bid price : 18.31
Bid-YTW : 7.56 %
ENB.PR.B FixedReset Disc 64,263 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.58 %
FTS.PR.M FixedReset Disc 57,728 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.62 %
BN.PR.B Floater 21,535 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 10.98
Evaluated at bid price : 10.98
Bid-YTW : 8.02 %
CU.PR.C FixedReset Disc 21,273 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.68 %
BN.PR.K Floater 20,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 8.12 %
There were 6 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
GWO.PR.L Insurance Straight Quote: 23.56 – 24.99
Spot Rate : 1.4300
Average : 0.8332

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 23.26
Evaluated at bid price : 23.56
Bid-YTW : 6.06 %
BIP.PR.A FixedReset Disc Quote: 23.00 – 24.45
Spot Rate : 1.4500
Average : 0.8856

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 22.27
Evaluated at bid price : 23.00
Bid-YTW : 6.93 %
IFC.PR.A FixedReset Ins Non Quote: 16.61 – 19.18
Spot Rate : 2.5700
Average : 2.1106

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.00 %
CU.PR.I FixedReset Disc Quote: 24.74 – 25.50
Spot Rate : 0.7600
Average : 0.4302

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 24.17
Evaluated at bid price : 24.74
Bid-YTW : 6.55 %
BN.PR.N Perpetual-Discount Quote: 18.00 – 18.75
Spot Rate : 0.7500
Average : 0.4824

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.69 %
CU.PR.F Perpetual-Discount Quote: 18.83 – 23.88
Spot Rate : 5.0500
Average : 4.7838

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.83
Evaluated at bid price : 18.83
Bid-YTW : 6.09 %
Market Action

April 29, 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 0.5158 % 2,080.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.5158 % 4,050.3
Floater 7.41 % 8.00 % 68,699 11.37 3 0.5158 % 2,334.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.0050 % 3,638.1
SplitShare 4.81 % 4.78 % 65,068 1.73 8 0.0050 % 4,344.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0050 % 3,389.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.1381 % 2,849.1
Perpetual-Discount 6.03 % 6.16 % 54,597 13.67 33 -0.1381 % 3,106.8
FixedReset Disc 5.75 % 6.64 % 121,600 12.63 49 0.1575 % 2,731.1
Insurance Straight 5.96 % 6.06 % 71,613 13.80 21 -0.4791 % 3,038.6
FloatingReset 5.92 % 5.97 % 38,056 13.89 3 0.1757 % 3,477.1
FixedReset Prem 6.42 % 5.46 % 143,233 13.93 10 0.1260 % 2,550.1
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1575 % 2,791.7
FixedReset Ins Non 5.78 % 6.19 % 68,175 13.41 12 -0.6567 % 2,722.5
Performance Highlights
Issue Index Change Notes
IFC.PR.A FixedReset Ins Non -10.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.00 %
SLF.PR.E Insurance Straight -3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.17
Evaluated at bid price : 19.17
Bid-YTW : 5.94 %
MFC.PR.C Insurance Straight -2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.00 %
BN.PF.I FixedReset Disc -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.75
Evaluated at bid price : 23.10
Bid-YTW : 7.08 %
MFC.PR.I FixedReset Ins Non -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.76
Evaluated at bid price : 23.40
Bid-YTW : 6.17 %
BN.PF.D Perpetual-Discount -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.52 %
MFC.PR.B Insurance Straight -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 5.98 %
CCS.PR.C Insurance Straight -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.04 %
SLF.PR.C Insurance Straight -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.76 %
SLF.PR.D Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.82 %
ENB.PF.K FixedReset Disc -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.66
Evaluated at bid price : 23.34
Bid-YTW : 6.55 %
CU.PR.G Perpetual-Discount 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 6.00 %
BMO.PR.E FixedReset Prem 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 23.57
Evaluated at bid price : 25.88
Bid-YTW : 5.46 %
BN.PF.E FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 7.19 %
IFC.PR.G FixedReset Ins Non 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.57
Evaluated at bid price : 23.25
Bid-YTW : 5.94 %
PWF.PR.A Floater 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 13.07
Evaluated at bid price : 13.07
Bid-YTW : 6.66 %
IFC.PR.K Insurance Straight 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.50
Evaluated at bid price : 21.84
Bid-YTW : 6.07 %
BN.PF.J FixedReset Disc 3.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.82
Evaluated at bid price : 23.60
Bid-YTW : 6.36 %
Volume Highlights
Issue Index Shares
Traded		 Notes
FTS.PR.M FixedReset Disc 153,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 20.53
Evaluated at bid price : 20.53
Bid-YTW : 6.64 %
PWF.PR.P FixedReset Disc 112,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 14.95
Evaluated at bid price : 14.95
Bid-YTW : 7.18 %
ENB.PR.N FixedReset Disc 103,923 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 6.92 %
CU.PR.H Perpetual-Discount 78,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.93 %
NA.PR.E FixedReset Disc 66,976 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 23.27
Evaluated at bid price : 24.72
Bid-YTW : 5.46 %
RY.PR.J FixedReset Disc 58,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.94
Bid-YTW : 4.66 %
There were 18 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
POW.PR.B Perpetual-Discount Quote: 22.03 – 25.00
Spot Rate : 2.9700
Average : 1.7510

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.78
Evaluated at bid price : 22.03
Bid-YTW : 6.12 %
MFC.PR.L FixedReset Ins Non Quote: 21.12 – 23.79
Spot Rate : 2.6700
Average : 1.6962

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.12
Evaluated at bid price : 21.12
Bid-YTW : 6.23 %
IFC.PR.A FixedReset Ins Non Quote: 16.61 – 19.15
Spot Rate : 2.5400
Average : 1.6069

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.00 %
MFC.PR.M FixedReset Ins Non Quote: 21.60 – 25.00
Spot Rate : 3.4000
Average : 2.9119

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.32
Evaluated at bid price : 21.60
Bid-YTW : 6.19 %
CU.PR.F Perpetual-Discount Quote: 18.95 – 23.88
Spot Rate : 4.9300
Average : 4.4920

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.05 %
MFC.PR.K FixedReset Ins Non Quote: 23.40 – 24.09
Spot Rate : 0.6900
Average : 0.4725

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.62
Evaluated at bid price : 23.40
Bid-YTW : 5.72 %
Market Action

April 28, 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 -0.3142 % 2,070.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3142 % 4,029.5
Floater 7.45 % 7.98 % 63,709 11.39 3 -0.3142 % 2,322.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0149 % 3,637.9
SplitShare 4.81 % 4.61 % 64,681 1.74 8 -0.0149 % 4,344.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0149 % 3,389.7
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.4963 % 2,853.0
Perpetual-Discount 6.03 % 6.17 % 54,217 13.68 33 0.4963 % 3,111.1
FixedReset Disc 5.76 % 6.67 % 122,910 12.64 49 0.1372 % 2,726.8
Insurance Straight 5.93 % 6.06 % 72,677 13.79 21 0.0430 % 3,053.2
FloatingReset 5.93 % 5.96 % 38,024 13.90 3 0.0639 % 3,471.0
FixedReset Prem 6.43 % 5.54 % 144,224 13.80 10 0.1262 % 2,546.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1372 % 2,787.3
FixedReset Ins Non 5.74 % 6.24 % 69,090 13.42 12 0.3749 % 2,740.5
Performance Highlights
Issue Index Change Notes
BN.PF.J FixedReset Disc -2.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 22.32
Evaluated at bid price : 22.75
Bid-YTW : 6.62 %
BN.PF.F FixedReset Disc -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 20.12
Evaluated at bid price : 20.12
Bid-YTW : 7.21 %
IFC.PR.K Insurance Straight -2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 21.32
Evaluated at bid price : 21.32
Bid-YTW : 6.24 %
PWF.PR.A Floater -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 12.85
Evaluated at bid price : 12.85
Bid-YTW : 6.77 %
POW.PR.D Perpetual-Discount -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.16 %
GWO.PR.P Insurance Straight -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 22.33
Evaluated at bid price : 22.60
Bid-YTW : 6.04 %
PWF.PR.S Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.14 %
ENB.PR.D FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 17.88
Evaluated at bid price : 17.88
Bid-YTW : 7.47 %
BIP.PR.A FixedReset Disc 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 22.23
Evaluated at bid price : 22.94
Bid-YTW : 6.95 %
PWF.PR.K Perpetual-Discount 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.17 %
PWF.PR.O Perpetual-Discount 2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 23.32
Evaluated at bid price : 23.60
Bid-YTW : 6.17 %
MFC.PR.C Insurance Straight 2.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 19.56
Evaluated at bid price : 19.56
Bid-YTW : 5.84 %
PWF.PR.F Perpetual-Discount 3.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 21.25
Evaluated at bid price : 21.52
Bid-YTW : 6.13 %
BN.PF.C Perpetual-Discount 3.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.40 %
IFC.PR.C FixedReset Ins Non 3.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.81 %
BN.PF.D Perpetual-Discount 8.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 19.37
Evaluated at bid price : 19.37
Bid-YTW : 6.41 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.C FixedReset Prem 43,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 25.45
Bid-YTW : 6.16 %
RY.PR.J FixedReset Disc 32,800 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.94
Bid-YTW : 4.58 %
BN.PR.B Floater 30,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 11.03
Evaluated at bid price : 11.03
Bid-YTW : 7.98 %
PWF.PR.G Perpetual-Discount 28,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 23.62
Evaluated at bid price : 23.89
Bid-YTW : 6.21 %
CU.PR.D Perpetual-Discount 25,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.06 %
BMO.PR.Y FixedReset Disc 25,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 23.98
Evaluated at bid price : 24.74
Bid-YTW : 5.55 %
There were 3 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
MFC.PR.M FixedReset Ins Non Quote: 21.45 – 25.00
Spot Rate : 3.5500
Average : 2.3766

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.24 %
CU.PR.F Perpetual-Discount Quote: 18.82 – 23.88
Spot Rate : 5.0600
Average : 4.0118

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 6.09 %
MFC.PR.Q FixedReset Ins Non Quote: 23.00 – 25.00
Spot Rate : 2.0000
Average : 1.5454

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 22.42
Evaluated at bid price : 23.00
Bid-YTW : 6.01 %
GWO.PR.N FixedReset Ins Non Quote: 14.98 – 16.00
Spot Rate : 1.0200
Average : 0.6854

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 14.98
Evaluated at bid price : 14.98
Bid-YTW : 6.72 %
PWF.PR.L Perpetual-Discount Quote: 20.72 – 21.70
Spot Rate : 0.9800
Average : 0.7394

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 20.72
Evaluated at bid price : 20.72
Bid-YTW : 6.20 %
IFC.PR.K Insurance Straight Quote: 21.32 – 22.70
Spot Rate : 1.3800
Average : 1.1836

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-28
Maturity Price : 21.32
Evaluated at bid price : 21.32
Bid-YTW : 6.24 %
Market Action

April 24, 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 -0.4841 % 2,073.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.4841 % 4,035.3
Floater 7.44 % 7.96 % 62,574 11.42 3 -0.4841 % 2,325.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.0993 % 3,643.0
SplitShare 4.80 % 4.58 % 63,554 1.75 8 0.0993 % 4,350.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0993 % 3,394.4
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1966 % 2,856.6
Perpetual-Discount 6.02 % 6.14 % 54,863 13.70 33 0.1966 % 3,114.9
FixedReset Disc 5.77 % 6.66 % 125,732 12.67 49 0.0195 % 2,721.2
Insurance Straight 5.93 % 6.03 % 75,060 13.82 21 -0.0543 % 3,050.4
FloatingReset 5.90 % 5.89 % 38,537 14.03 3 0.1591 % 3,489.9
FixedReset Prem 6.42 % 5.52 % 139,181 13.83 10 0.0827 % 2,548.4
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0195 % 2,781.6
FixedReset Ins Non 5.75 % 6.24 % 70,102 13.45 12 -1.0044 % 2,738.1
Performance Highlights
Issue Index Change Notes
MFC.PR.M FixedReset Ins Non -10.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.25 %
IFC.PR.C FixedReset Ins Non -4.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.04 %
PWF.PR.F Perpetual-Discount -3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.35 %
IFC.PR.K Insurance Straight -2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 21.26
Evaluated at bid price : 21.26
Bid-YTW : 6.25 %
ELF.PR.F Perpetual-Discount -2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 21.25
Evaluated at bid price : 21.52
Bid-YTW : 6.20 %
PWF.PR.P FixedReset Disc -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 7.28 %
ENB.PF.K FixedReset Disc -2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 22.46
Evaluated at bid price : 23.01
Bid-YTW : 6.63 %
GWO.PR.T Insurance Straight -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.82
Evaluated at bid price : 20.82
Bid-YTW : 6.26 %
BIP.PR.A FixedReset Disc -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 21.97
Evaluated at bid price : 22.50
Bid-YTW : 7.08 %
GWO.PR.S Insurance Straight -1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.14 %
ENB.PR.A Perpetual-Discount -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 22.08
Evaluated at bid price : 22.31
Bid-YTW : 6.27 %
BN.PR.R FixedReset Disc -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 16.56
Evaluated at bid price : 16.56
Bid-YTW : 7.52 %
CCS.PR.C Insurance Straight -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 5.98 %
PWF.PR.Z Perpetual-Discount -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.25 %
CU.PR.J Perpetual-Discount 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.00 %
BN.PF.H FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 24.81
Bid-YTW : 6.66 %
ENB.PF.G FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 7.60 %
CU.PR.F Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 5.98 %
SLF.PR.D Insurance Straight 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 5.65 %
BN.PF.B FixedReset Disc 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.54
Evaluated at bid price : 20.54
Bid-YTW : 6.93 %
GWO.PR.M Insurance Straight 2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 6.10 %
PWF.PF.A Perpetual-Discount 2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.05 %
CU.PR.G Perpetual-Discount 2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.03 %
BN.PF.F FixedReset Disc 2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.67
Evaluated at bid price : 20.67
Bid-YTW : 7.00 %
CU.PR.H Perpetual-Discount 2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 22.49
Evaluated at bid price : 22.75
Bid-YTW : 5.86 %
MFC.PR.J FixedReset Ins Non 3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 22.89
Evaluated at bid price : 23.80
Bid-YTW : 5.86 %
IFC.PR.I Insurance Straight 4.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 22.14
Evaluated at bid price : 22.44
Bid-YTW : 6.07 %
PWF.PR.L Perpetual-Discount 5.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 6.14 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.J FixedReset Disc 75,700 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-05-24
Maturity Price : 25.00
Evaluated at bid price : 24.93
Bid-YTW : 3.44 %
FFH.PR.I FixedReset Disc 40,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 22.33
Evaluated at bid price : 23.15
Bid-YTW : 5.99 %
BIP.PR.E FixedReset Disc 31,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 22.24
Evaluated at bid price : 22.68
Bid-YTW : 6.64 %
ENB.PR.N FixedReset Disc 30,650 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.95 %
ENB.PR.T FixedReset Disc 14,974 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 7.32 %
PWF.PR.P FixedReset Disc 12,305 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 7.28 %
There were 2 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
GWO.PR.T Insurance Straight Quote: 20.82 – 22.92
Spot Rate : 2.1000
Average : 1.4705

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.82
Evaluated at bid price : 20.82
Bid-YTW : 6.26 %
IFC.PR.C FixedReset Ins Non Quote: 18.80 – 21.40
Spot Rate : 2.6000
Average : 2.0127

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.04 %
BN.PR.T FixedReset Disc Quote: 16.61 – 18.00
Spot Rate : 1.3900
Average : 0.9310

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.49 %
BN.PR.R FixedReset Disc Quote: 16.56 – 18.00
Spot Rate : 1.4400
Average : 1.0144

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 16.56
Evaluated at bid price : 16.56
Bid-YTW : 7.52 %
FTS.PR.K FixedReset Disc Quote: 20.30 – 21.40
Spot Rate : 1.1000
Average : 0.6786

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.28 %
PWF.PR.F Perpetual-Discount Quote: 20.80 – 21.99
Spot Rate : 1.1900
Average : 0.7871

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-24
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.35 %