Category: Market Action

Market Action

June 30, 2016

I have long suspected that the UK’s war on bankers would eventually backfire; perhaps it has been a contributing factor:

The race is on to be the new London.

Unless Britain finds a way to undo its decision to leave the European Union, London’s days as the pre-eminent global financial capital, ranked even ahead of New York, may be numbered.

I spoke this week to several high-ranking executives at major financial institutions that collectively employ tens of thousands in London. While none of them have any immediate plans to move their European headquarters from Britain’s capital, all agreed they would eventually shift a significant number of highly paid employees to cities that remain in the European Union.

The author opines that third place in the Good Job Sweepstakes goes to Vienna; second to Frankfurt; and first to Amsterdam:

Not only do 90 percent of the Dutch speak English, many speak it better than the English themselves. Its schools are ranked the best in Europe, and there are plenty of English-language options. The city has beautiful architecture and housing options, picturesque canals, excellent restaurants, music and theater, lively night life, and a cosmopolitan and tolerant attitude cultivated over centuries as a major global trading center.

It has one of Europe’s best airports, ranked just behind Frankfurt and Vienna, and an excellent rail network connecting major European capitals, including London. It’s a short train ride to Brussels, the capital of the European Union.
…
The problem? Badly hurt by the financial crisis, the Dutch have capped bankers’ bonuses at just 20 percent of their annual salaries — a far more drastic curb than was imposed by the European Union. Several bankers told me that unless the Dutch repealed the cap, they wouldn’t consider moving to Amsterdam. “I’d love to relocate to Amsterdam,” one top executive told me. “But I don’t think we’re wanted there.”

Out of curiosity, I examined the same criteria and scored London itself. The result?

London earns a near-perfect 58 points. The only black mark was its quality of life, primarily because of its high cost. Mercer ranks London just 39th (New York ranks 44th).

But Brexit brings to the US one benefit … which central bankers might consider more of a problem:

Mortgage rates hit a new low for the year, falling to 3.48 percent after Britain voted for a divorce from Europe. Last week, the average 30-year fixed-rate loan was 3.56 percent, according to Freddie Mac. A year ago it was above 4 percent.

We’re this close to the record low 3.31 percent rates posted in November 2012. Back then, borrowing costs hit rock bottom because there wasn’t much demand for loans in the wake of Hurricane Sandy. Stock prices were falling, too, sending big investors in search of a safe place to park their money. That flight to financial safety typically sends mortgages rates down.

30YrMortgage_Recent
Click for Big
30YrMortgage_Historical
Click for Big

And that’s it for another month! Have a good long weekend, folks!

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 0.3626 % 1,651.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.3626 % 3,017.0
Floater 4.66 % 4.66 % 62,424 16.11 3 0.3626 % 1,738.7
OpRet 4.85 % -2.50 % 40,951 0.08 1 0.1984 % 2,842.5
SplitShare 4.86 % 4.92 % 82,108 4.63 7 0.2470 % 3,350.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2470 % 2,614.1
Perpetual-Premium 5.58 % -13.64 % 75,267 0.09 9 0.1342 % 2,651.1
Perpetual-Discount 5.33 % 5.37 % 106,160 14.80 28 -0.0319 % 2,763.2
FixedReset 5.13 % 4.49 % 158,236 7.20 88 0.3253 % 1,973.5
Deemed-Retractible 5.09 % 5.06 % 128,578 4.90 33 0.3000 % 2,722.7
FloatingReset 3.11 % 5.07 % 31,294 5.18 18 0.4526 % 2,103.4
Performance Highlights
Issue Index Change Notes
PWF.PR.Q FloatingReset -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 4.37 %
TRP.PR.B FixedReset -2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 11.22
Evaluated at bid price : 11.22
Bid-YTW : 4.28 %
BAM.PF.E FixedReset -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 18.17
Evaluated at bid price : 18.17
Bid-YTW : 4.70 %
BAM.PF.B FixedReset -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 17.36
Evaluated at bid price : 17.36
Bid-YTW : 4.88 %
TRP.PR.C FixedReset -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 11.88
Evaluated at bid price : 11.88
Bid-YTW : 4.52 %
BAM.PF.A FixedReset -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 18.77
Evaluated at bid price : 18.77
Bid-YTW : 4.82 %
MFC.PR.P FloatingReset -1.20 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.40
Bid-YTW : 11.20 %
BAM.PF.F FixedReset -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 19.16
Evaluated at bid price : 19.16
Bid-YTW : 4.75 %
BAM.PF.G FixedReset -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 4.70 %
RY.PR.J FixedReset 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 4.35 %
MFC.PR.G FixedReset 1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.98
Bid-YTW : 7.40 %
BNS.PR.R FixedReset 1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.38
Bid-YTW : 4.39 %
RY.PR.K FloatingReset 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.78
Bid-YTW : 5.07 %
BMO.PR.W FixedReset 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 18.29
Evaluated at bid price : 18.29
Bid-YTW : 4.10 %
MFC.PR.F FixedReset 1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.83
Bid-YTW : 10.03 %
IFC.PR.C FixedReset 1.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.61
Bid-YTW : 8.11 %
BMO.PR.Q FixedReset 1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.74
Bid-YTW : 6.36 %
BAM.PR.R FixedReset 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 15.20
Evaluated at bid price : 15.20
Bid-YTW : 4.76 %
CCS.PR.C Deemed-Retractible 1.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.19
Bid-YTW : 6.13 %
CM.PR.Q FixedReset 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 4.34 %
RY.PR.I FixedReset 1.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.42
Bid-YTW : 4.37 %
FTS.PR.I FloatingReset 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 4.00 %
FTS.PR.H FixedReset 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 3.78 %
HSE.PR.A FixedReset 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 5.14 %
TRP.PR.H FloatingReset 2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 10.13
Evaluated at bid price : 10.13
Bid-YTW : 4.32 %
IAG.PR.G FixedReset 2.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.86
Bid-YTW : 7.49 %
BNS.PR.F FloatingReset 2.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.51
Bid-YTW : 7.58 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BNS.PR.M Deemed-Retractible 335,925 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-08-26
Maturity Price : 25.00
Evaluated at bid price : 24.98
Bid-YTW : 2.58 %
NA.PR.A FixedReset 59,639 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.67
Bid-YTW : 4.89 %
BAM.PF.H FixedReset 41,272 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 26.20
Bid-YTW : 3.85 %
BMO.PR.Q FixedReset 29,000 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.74
Bid-YTW : 6.36 %
SLF.PR.H FixedReset 26,920 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.70
Bid-YTW : 9.12 %
MFC.PR.N FixedReset 25,775 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.18
Bid-YTW : 7.80 %
There were 26 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
FTS.PR.H FixedReset Quote: 14.10 – 14.72
Spot Rate : 0.6200
Average : 0.4343

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 3.78 %
GWO.PR.Q Deemed-Retractible Quote: 24.43 – 24.90
Spot Rate : 0.4700
Average : 0.3036

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.43
Bid-YTW : 5.52 %
TRP.PR.B FixedReset Quote: 11.22 – 11.60
Spot Rate : 0.3800
Average : 0.2727

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 11.22
Evaluated at bid price : 11.22
Bid-YTW : 4.28 %
TRP.PR.A FixedReset Quote: 14.26 – 14.69
Spot Rate : 0.4300
Average : 0.3230

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 14.26
Evaluated at bid price : 14.26
Bid-YTW : 4.67 %
PWF.PR.T FixedReset Quote: 20.47 – 20.87
Spot Rate : 0.4000
Average : 0.3065

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 20.47
Evaluated at bid price : 20.47
Bid-YTW : 3.85 %
FTS.PR.F Perpetual-Discount Quote: 23.80 – 24.05
Spot Rate : 0.2500
Average : 0.1604

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-30
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.19 %
Market Action

June 29, 2016

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 0.3307 % 1,645.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.3307 % 3,006.1
Floater 4.67 % 4.67 % 64,688 16.10 3 0.3307 % 1,732.4
OpRet 4.86 % -0.26 % 41,221 0.08 1 0.0794 % 2,836.9
SplitShare 4.88 % 5.00 % 82,771 4.63 7 -0.0286 % 3,342.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0286 % 2,607.6
Perpetual-Premium 5.59 % -13.67 % 77,772 0.09 9 0.2431 % 2,647.6
Perpetual-Discount 5.33 % 5.35 % 106,184 14.87 28 0.8289 % 2,764.1
FixedReset 5.18 % 4.59 % 158,615 7.34 88 0.6345 % 1,967.1
Deemed-Retractible 5.10 % 5.17 % 124,989 4.90 33 0.6877 % 2,714.6
FloatingReset 3.12 % 5.14 % 31,477 5.18 18 0.3869 % 2,093.9
Performance Highlights
Issue Index Change Notes
TD.PR.Y FixedReset -1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.17
Bid-YTW : 4.47 %
BNS.PR.F FloatingReset -1.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.14
Bid-YTW : 8.09 %
CU.PR.I FixedReset 1.01 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-01
Maturity Price : 25.00
Evaluated at bid price : 26.01
Bid-YTW : 3.61 %
CU.PR.C FixedReset 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 16.95
Evaluated at bid price : 16.95
Bid-YTW : 4.50 %
RY.PR.H FixedReset 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.38
Evaluated at bid price : 18.38
Bid-YTW : 4.13 %
VNR.PR.A FixedReset 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.21
Evaluated at bid price : 18.21
Bid-YTW : 4.84 %
GWO.PR.Q Deemed-Retractible 1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.34
Bid-YTW : 5.57 %
CM.PR.Q FixedReset 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 4.40 %
TD.PF.B FixedReset 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 4.16 %
TD.PF.E FixedReset 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 4.34 %
PWF.PR.P FixedReset 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 4.22 %
RY.PR.J FixedReset 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 4.39 %
BAM.PF.E FixedReset 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.41
Evaluated at bid price : 18.41
Bid-YTW : 4.64 %
TD.PF.C FixedReset 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.26
Evaluated at bid price : 18.26
Bid-YTW : 4.18 %
FTS.PR.K FixedReset 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 4.09 %
SLF.PR.C Deemed-Retractible 1.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.39
Bid-YTW : 6.72 %
CU.PR.F Perpetual-Discount 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 21.26
Evaluated at bid price : 21.26
Bid-YTW : 5.35 %
MFC.PR.F FixedReset 1.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.67
Bid-YTW : 10.19 %
ELF.PR.H Perpetual-Discount 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 24.18
Evaluated at bid price : 24.67
Bid-YTW : 5.57 %
BAM.PR.R FixedReset 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 15.01
Evaluated at bid price : 15.01
Bid-YTW : 4.82 %
SLF.PR.A Deemed-Retractible 1.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.92
Bid-YTW : 6.04 %
SLF.PR.D Deemed-Retractible 1.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.38
Bid-YTW : 6.73 %
MFC.PR.B Deemed-Retractible 1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.52
Bid-YTW : 6.21 %
SLF.PR.B Deemed-Retractible 1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.13
Bid-YTW : 5.96 %
IAG.PR.G FixedReset 1.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.45
Bid-YTW : 7.80 %
GWO.PR.P Deemed-Retractible 1.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.17
Bid-YTW : 5.33 %
PWF.PR.S Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 22.48
Evaluated at bid price : 22.77
Bid-YTW : 5.35 %
MFC.PR.C Deemed-Retractible 1.45 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.69
Bid-YTW : 6.60 %
CM.PR.P FixedReset 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.06
Evaluated at bid price : 18.06
Bid-YTW : 4.14 %
CU.PR.E Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 22.89
Evaluated at bid price : 23.28
Bid-YTW : 5.30 %
CM.PR.O FixedReset 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 4.16 %
SLF.PR.E Deemed-Retractible 1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.65
Bid-YTW : 6.60 %
CU.PR.D Perpetual-Discount 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 22.86
Evaluated at bid price : 23.24
Bid-YTW : 5.31 %
GWO.PR.R Deemed-Retractible 1.65 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.82
Bid-YTW : 6.16 %
TRP.PR.A FixedReset 1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 14.40
Evaluated at bid price : 14.40
Bid-YTW : 4.62 %
GWO.PR.H Deemed-Retractible 1.78 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.87
Bid-YTW : 6.18 %
CU.PR.H Perpetual-Discount 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 24.53
Evaluated at bid price : 24.94
Bid-YTW : 5.30 %
FTS.PR.M FixedReset 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 4.26 %
GWO.PR.G Deemed-Retractible 1.83 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.46
Bid-YTW : 5.55 %
GWO.PR.S Deemed-Retractible 1.84 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.85
Bid-YTW : 5.37 %
CU.PR.G Perpetual-Discount 1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 21.38
Evaluated at bid price : 21.38
Bid-YTW : 5.32 %
HSE.PR.C FixedReset 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 17.53
Evaluated at bid price : 17.53
Bid-YTW : 5.56 %
HSE.PR.B FloatingReset 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 10.35
Evaluated at bid price : 10.35
Bid-YTW : 5.33 %
GWO.PR.I Deemed-Retractible 2.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.89
Bid-YTW : 6.44 %
HSE.PR.G FixedReset 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 19.22
Evaluated at bid price : 19.22
Bid-YTW : 5.51 %
FTS.PR.G FixedReset 2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 4.15 %
TRP.PR.E FixedReset 2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 4.47 %
FTS.PR.F Perpetual-Discount 2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 23.70
Evaluated at bid price : 24.01
Bid-YTW : 5.14 %
SLF.PR.I FixedReset 2.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.18
Bid-YTW : 7.83 %
TRP.PR.B FixedReset 2.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 11.53
Evaluated at bid price : 11.53
Bid-YTW : 4.17 %
FTS.PR.J Perpetual-Discount 2.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 22.99
Evaluated at bid price : 23.38
Bid-YTW : 5.11 %
TRP.PR.D FixedReset 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 4.50 %
HSE.PR.E FixedReset 2.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 5.50 %
TRP.PR.C FixedReset 3.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 12.03
Evaluated at bid price : 12.03
Bid-YTW : 4.46 %
PWF.PR.Q FloatingReset 4.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 4.19 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BNS.PR.M Deemed-Retractible 115,095 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-08-26
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : 2.55 %
TD.PF.C FixedReset 105,172 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.26
Evaluated at bid price : 18.26
Bid-YTW : 4.18 %
MFC.PR.I FixedReset 102,569 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.65
Bid-YTW : 6.98 %
BNS.PR.N Deemed-Retractible 100,875 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-07-29
Maturity Price : 25.25
Evaluated at bid price : 25.72
Bid-YTW : -7.01 %
CM.PR.P FixedReset 80,036 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 18.06
Evaluated at bid price : 18.06
Bid-YTW : 4.14 %
FTS.PR.E OpRet 62,100 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-07-29
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : -0.26 %
There were 36 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BNS.PR.F FloatingReset Quote: 18.14 – 18.99
Spot Rate : 0.8500
Average : 0.5792

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.14
Bid-YTW : 8.09 %
IAG.PR.G FixedReset Quote: 18.45 – 19.22
Spot Rate : 0.7700
Average : 0.5054

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.45
Bid-YTW : 7.80 %
GWO.PR.O FloatingReset Quote: 12.55 – 13.57
Spot Rate : 1.0200
Average : 0.8729

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.55
Bid-YTW : 10.83 %
HSE.PR.A FixedReset Quote: 11.18 – 11.59
Spot Rate : 0.4100
Average : 0.2689

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-29
Maturity Price : 11.18
Evaluated at bid price : 11.18
Bid-YTW : 5.24 %
SLF.PR.G FixedReset Quote: 14.20 – 14.60
Spot Rate : 0.4000
Average : 0.2657

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.20
Bid-YTW : 9.69 %
ALB.PR.C SplitShare Quote: 26.15 – 26.94
Spot Rate : 0.7900
Average : 0.6641

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2017-02-28
Maturity Price : 25.67
Evaluated at bid price : 26.15
Bid-YTW : 2.47 %
Market Action

June 28, 2016

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 1.0020 % 1,640.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.0020 % 2,996.2
Floater 4.69 % 4.67 % 63,430 16.09 3 1.0020 % 1,726.7
OpRet 4.86 % 0.54 % 38,166 0.08 1 0.0795 % 2,834.6
SplitShare 4.87 % 4.91 % 83,435 4.63 7 0.2531 % 3,343.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2531 % 2,608.4
Perpetual-Premium 5.60 % -12.04 % 78,552 0.09 9 0.2519 % 2,641.1
Perpetual-Discount 5.37 % 5.42 % 105,404 14.77 28 0.5628 % 2,741.4
FixedReset 5.21 % 4.56 % 160,057 7.32 88 0.6231 % 1,954.7
Deemed-Retractible 5.13 % 5.23 % 122,792 4.90 33 0.5198 % 2,696.1
FloatingReset 3.13 % 5.15 % 30,301 5.18 18 -0.2108 % 2,085.9
Performance Highlights
Issue Index Change Notes
GWO.PR.O FloatingReset -4.92 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.55
Bid-YTW : 10.83 %
SLF.PR.J FloatingReset -1.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.51
Bid-YTW : 11.04 %
CCS.PR.C Deemed-Retractible -1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.85
Bid-YTW : 6.35 %
RY.PR.K FloatingReset -1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.43
Bid-YTW : 5.38 %
TD.PF.F Perpetual-Discount 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 24.50
Evaluated at bid price : 24.90
Bid-YTW : 4.98 %
GWO.PR.Q Deemed-Retractible 1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.08
Bid-YTW : 5.73 %
MFC.PR.K FixedReset 1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.97
Bid-YTW : 8.49 %
TRP.PR.E FixedReset 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 4.57 %
MFC.PR.I FixedReset 1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.54
Bid-YTW : 7.06 %
BNS.PR.F FloatingReset 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.35
Bid-YTW : 7.86 %
CU.PR.D Perpetual-Discount 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 22.54
Evaluated at bid price : 22.87
Bid-YTW : 5.40 %
IFC.PR.C FixedReset 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.35
Bid-YTW : 8.32 %
BAM.PR.Z FixedReset 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 4.87 %
CM.PR.Q FixedReset 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 19.19
Evaluated at bid price : 19.19
Bid-YTW : 4.45 %
RY.PR.Z FixedReset 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.19
Evaluated at bid price : 18.19
Bid-YTW : 4.12 %
CU.PR.E Perpetual-Discount 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 22.60
Evaluated at bid price : 22.94
Bid-YTW : 5.38 %
GWO.PR.I Deemed-Retractible 1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.46
Bid-YTW : 6.73 %
BMO.PR.T FixedReset 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 4.17 %
TD.PF.C FixedReset 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 4.23 %
BMO.PR.Y FixedReset 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 19.99
Evaluated at bid price : 19.99
Bid-YTW : 4.29 %
MFC.PR.C Deemed-Retractible 1.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.38
Bid-YTW : 6.81 %
CU.PR.G Perpetual-Discount 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 20.98
Evaluated at bid price : 20.98
Bid-YTW : 5.42 %
CU.PR.C FixedReset 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 16.78
Evaluated at bid price : 16.78
Bid-YTW : 4.54 %
MFC.PR.L FixedReset 1.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.54
Bid-YTW : 8.14 %
HSE.PR.E FixedReset 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 5.67 %
MFC.PR.B Deemed-Retractible 1.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.22
Bid-YTW : 6.41 %
FTS.PR.M FixedReset 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.86
Evaluated at bid price : 18.86
Bid-YTW : 4.34 %
CU.PR.F Perpetual-Discount 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.42 %
SLF.PR.G FixedReset 1.43 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.20
Bid-YTW : 9.68 %
BAM.PR.X FixedReset 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 13.42
Evaluated at bid price : 13.42
Bid-YTW : 4.64 %
TRP.PR.C FixedReset 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 11.68
Evaluated at bid price : 11.68
Bid-YTW : 4.60 %
RY.PR.M FixedReset 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 4.35 %
SLF.PR.I FixedReset 1.54 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.75
Bid-YTW : 8.18 %
BAM.PR.K Floater 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 10.14
Evaluated at bid price : 10.14
Bid-YTW : 4.67 %
SLF.PR.A Deemed-Retractible 1.66 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.62
Bid-YTW : 6.23 %
HSE.PR.C FixedReset 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 5.67 %
SLF.PR.E Deemed-Retractible 1.72 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.32
Bid-YTW : 6.83 %
TRP.PR.B FixedReset 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 4.27 %
SLF.PR.B Deemed-Retractible 1.83 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.82
Bid-YTW : 6.15 %
SLF.PR.D Deemed-Retractible 1.93 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.10
Bid-YTW : 6.92 %
HSE.PR.G FixedReset 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.84
Evaluated at bid price : 18.84
Bid-YTW : 5.62 %
SLF.PR.C Deemed-Retractible 2.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.14
Bid-YTW : 6.89 %
FTS.PR.J Perpetual-Discount 2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 22.46
Evaluated at bid price : 22.77
Bid-YTW : 5.26 %
FTS.PR.F Perpetual-Discount 2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 23.17
Evaluated at bid price : 23.47
Bid-YTW : 5.26 %
SLF.PR.H FixedReset 2.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.68
Bid-YTW : 9.13 %
VNR.PR.A FixedReset 3.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.02
Evaluated at bid price : 18.02
Bid-YTW : 4.89 %
PWF.PR.Q FloatingReset 4.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 4.37 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.R FloatingReset 65,220 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.55
Bid-YTW : 4.97 %
IFC.PR.C FixedReset 37,129 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.35
Bid-YTW : 8.32 %
NA.PR.A FixedReset 36,935 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.63
Bid-YTW : 4.92 %
RY.PR.Q FixedReset 25,986 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.37
Bid-YTW : 4.39 %
BMO.PR.S FixedReset 25,633 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 18.27
Evaluated at bid price : 18.27
Bid-YTW : 4.24 %
SLF.PR.I FixedReset 23,137 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.75
Bid-YTW : 8.18 %
There were 25 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.B FloatingReset Quote: 10.15 – 12.15
Spot Rate : 2.0000
Average : 1.3883

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 10.15
Evaluated at bid price : 10.15
Bid-YTW : 5.43 %
GWO.PR.O FloatingReset Quote: 12.55 – 13.57
Spot Rate : 1.0200
Average : 0.7117

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.55
Bid-YTW : 10.83 %
RY.PR.Q FixedReset Quote: 26.37 – 26.75
Spot Rate : 0.3800
Average : 0.2326

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.37
Bid-YTW : 4.39 %
PWF.PR.T FixedReset Quote: 20.40 – 20.83
Spot Rate : 0.4300
Average : 0.3179

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 3.89 %
TRP.PR.D FixedReset Quote: 16.79 – 17.15
Spot Rate : 0.3600
Average : 0.2482

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 16.79
Evaluated at bid price : 16.79
Bid-YTW : 4.62 %
NA.PR.S FixedReset Quote: 17.53 – 17.94
Spot Rate : 0.4100
Average : 0.3103

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-28
Maturity Price : 17.53
Evaluated at bid price : 17.53
Bid-YTW : 4.55 %
Market Action

June 27, 2016

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 -0.8937 % 1,623.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.8937 % 2,966.5
Floater 4.73 % 4.74 % 62,111 15.97 3 -0.8937 % 1,709.6
OpRet 4.87 % 1.35 % 38,638 0.08 1 -0.1191 % 2,832.4
SplitShare 4.89 % 4.99 % 86,188 4.63 7 -0.0409 % 3,334.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0409 % 2,601.8
Perpetual-Premium 5.60 % -10.42 % 78,114 0.09 9 0.0478 % 2,634.5
Perpetual-Discount 5.39 % 5.45 % 103,803 14.68 28 -0.0936 % 2,726.0
FixedReset 5.24 % 4.61 % 154,680 7.32 88 -0.7897 % 1,942.6
Deemed-Retractible 5.16 % 5.40 % 122,550 4.91 33 -0.3079 % 2,682.1
FloatingReset 3.13 % 5.09 % 28,067 5.18 18 -0.2027 % 2,090.3
Performance Highlights
Issue Index Change Notes
HSE.PR.B FloatingReset -4.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 10.15
Evaluated at bid price : 10.15
Bid-YTW : 5.43 %
TRP.PR.C FixedReset -2.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 11.65
Evaluated at bid price : 11.65
Bid-YTW : 4.68 %
HSE.PR.E FixedReset -2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.75 %
SLF.PR.H FixedReset -2.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.31
Bid-YTW : 9.46 %
HSE.PR.G FixedReset -2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 18.47
Evaluated at bid price : 18.47
Bid-YTW : 5.74 %
SLF.PR.G FixedReset -2.51 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.00
Bid-YTW : 9.88 %
MFC.PR.L FixedReset -2.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.31
Bid-YTW : 8.33 %
MFC.PR.K FixedReset -2.38 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.79
Bid-YTW : 8.64 %
SLF.PR.I FixedReset -2.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.48
Bid-YTW : 8.39 %
MFC.PR.N FixedReset -2.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.00
Bid-YTW : 7.93 %
MFC.PR.M FixedReset -2.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.10
Bid-YTW : 7.91 %
TRP.PR.B FixedReset -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 11.05
Evaluated at bid price : 11.05
Bid-YTW : 4.35 %
MFC.PR.G FixedReset -2.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.49
Bid-YTW : 7.77 %
FTS.PR.G FixedReset -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 16.94
Evaluated at bid price : 16.94
Bid-YTW : 4.22 %
FTS.PR.M FixedReset -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 4.40 %
HSE.PR.A FixedReset -2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 11.02
Evaluated at bid price : 11.02
Bid-YTW : 5.32 %
NA.PR.S FixedReset -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 17.43
Evaluated at bid price : 17.43
Bid-YTW : 4.58 %
FTS.PR.J Perpetual-Discount -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 21.93
Evaluated at bid price : 22.29
Bid-YTW : 5.37 %
TRP.PR.F FloatingReset -1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 12.95
Evaluated at bid price : 12.95
Bid-YTW : 4.62 %
MFC.PR.F FixedReset -1.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.46
Bid-YTW : 10.40 %
MFC.PR.J FixedReset -1.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.37
Bid-YTW : 7.69 %
FTS.PR.K FixedReset -1.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 17.09
Evaluated at bid price : 17.09
Bid-YTW : 4.15 %
MFC.PR.I FixedReset -1.78 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.33
Bid-YTW : 7.21 %
FTS.PR.F Perpetual-Discount -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 22.70
Evaluated at bid price : 22.94
Bid-YTW : 5.39 %
CM.PR.O FixedReset -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 4.25 %
HSE.PR.C FixedReset -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 16.91
Evaluated at bid price : 16.91
Bid-YTW : 5.77 %
SLF.PR.B Deemed-Retractible -1.71 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.41
Bid-YTW : 6.42 %
CM.PR.Q FixedReset -1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 18.97
Evaluated at bid price : 18.97
Bid-YTW : 4.50 %
CU.PR.C FixedReset -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 16.56
Evaluated at bid price : 16.56
Bid-YTW : 4.60 %
SLF.PR.C Deemed-Retractible -1.62 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.71
Bid-YTW : 7.19 %
SLF.PR.A Deemed-Retractible -1.59 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.25
Bid-YTW : 6.47 %
IAG.PR.G FixedReset -1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.10
Bid-YTW : 8.07 %
SLF.PR.D Deemed-Retractible -1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.70
Bid-YTW : 7.20 %
CM.PR.P FixedReset -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 4.24 %
BMO.PR.S FixedReset -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 18.18
Evaluated at bid price : 18.18
Bid-YTW : 4.27 %
IFC.PR.C FixedReset -1.38 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.16
Bid-YTW : 8.48 %
SLF.PR.E Deemed-Retractible -1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.96
Bid-YTW : 7.07 %
IFC.PR.A FixedReset -1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.50
Bid-YTW : 10.27 %
GWO.PR.I Deemed-Retractible -1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.20
Bid-YTW : 6.91 %
BMO.PR.T FixedReset -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 4.22 %
BMO.PR.W FixedReset -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 17.82
Evaluated at bid price : 17.82
Bid-YTW : 4.21 %
TD.PF.B FixedReset -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 4.25 %
BAM.PR.T FixedReset -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 14.82
Evaluated at bid price : 14.82
Bid-YTW : 5.03 %
SLF.PR.J FloatingReset 1.92 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.75
Bid-YTW : 10.77 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.Q FixedReset 120,856 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.31
Bid-YTW : 4.44 %
BNS.PR.M Deemed-Retractible 115,308 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-07-27
Maturity Price : 25.00
Evaluated at bid price : 25.25
Bid-YTW : 0.87 %
TRP.PR.J FixedReset 105,100 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.88
Bid-YTW : 4.81 %
NA.PR.A FixedReset 65,236 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.63
Bid-YTW : 4.92 %
CCS.PR.C Deemed-Retractible 25,610 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.11
Bid-YTW : 6.18 %
MFC.PR.G FixedReset 18,960 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.49
Bid-YTW : 7.77 %
There were 16 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
FTS.PR.I FloatingReset Quote: 11.90 – 12.89
Spot Rate : 0.9900
Average : 0.8204

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 11.90
Evaluated at bid price : 11.90
Bid-YTW : 4.07 %
TRP.PR.F FloatingReset Quote: 12.95 – 13.50
Spot Rate : 0.5500
Average : 0.4205

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 12.95
Evaluated at bid price : 12.95
Bid-YTW : 4.62 %
PWF.PR.Q FloatingReset Quote: 11.50 – 13.00
Spot Rate : 1.5000
Average : 1.3751

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-27
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.56 %
IAG.PR.G FixedReset Quote: 18.10 – 18.38
Spot Rate : 0.2800
Average : 0.1774

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.10
Bid-YTW : 8.07 %
PVS.PR.D SplitShare Quote: 23.58 – 23.98
Spot Rate : 0.4000
Average : 0.3063

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 23.58
Bid-YTW : 5.85 %
IFC.PR.A FixedReset Quote: 14.50 – 14.80
Spot Rate : 0.3000
Average : 0.2064

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.50
Bid-YTW : 10.27 %
Market Action

June 24, 2016

So it seems that Brexit was basically a fizzle as far as the Canadian preferred share market was concerned. It was a bad day, certainly, with TXPR down 0.84% on the day – but that doesn’t even make the list of ten worst days this year!

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 -1.1453 % 1,638.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.1453 % 2,993.2
Floater 4.69 % 4.70 % 62,328 16.05 3 -1.1453 % 1,725.0
OpRet 4.86 % -0.59 % 38,301 0.08 1 0.1192 % 2,835.8
SplitShare 4.88 % 4.94 % 86,819 4.64 7 -0.1201 % 3,336.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1201 % 2,602.9
Perpetual-Premium 5.61 % -10.95 % 77,633 0.09 9 -0.1389 % 2,633.2
Perpetual-Discount 5.38 % 5.43 % 104,574 14.73 28 -0.4431 % 2,728.6
FixedReset 5.20 % 4.68 % 159,828 7.34 88 -0.9771 % 1,958.1
Deemed-Retractible 5.14 % 5.39 % 121,546 4.91 33 -0.4528 % 2,690.4
FloatingReset 3.15 % 5.15 % 29,187 5.19 18 -0.7178 % 2,094.5
Performance Highlights
Issue Index Change Notes
PWF.PR.Q FloatingReset -6.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.60 %
VNR.PR.A FixedReset -3.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 5.17 %
SLF.PR.I FixedReset -3.61 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.90
Bid-YTW : 8.13 %
TRP.PR.B FixedReset -3.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 4.39 %
HSE.PR.A FixedReset -3.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 5.33 %
TRP.PR.C FixedReset -2.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 4.67 %
TRP.PR.H FloatingReset -2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 9.85
Evaluated at bid price : 9.85
Bid-YTW : 4.50 %
IAG.PR.G FixedReset -2.75 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.38
Bid-YTW : 7.93 %
SLF.PR.H FixedReset -2.72 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.73
Bid-YTW : 9.18 %
TD.PF.E FixedReset -2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 20.16
Evaluated at bid price : 20.16
Bid-YTW : 4.49 %
RY.PR.M FixedReset -2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 4.47 %
TRP.PR.A FixedReset -2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 14.20
Evaluated at bid price : 14.20
Bid-YTW : 4.80 %
RY.PR.J FixedReset -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 4.53 %
CU.PR.C FixedReset -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 16.84
Evaluated at bid price : 16.84
Bid-YTW : 4.64 %
FTS.PR.I FloatingReset -2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 11.92
Evaluated at bid price : 11.92
Bid-YTW : 4.10 %
TRP.PR.G FixedReset -2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.06
Evaluated at bid price : 18.06
Bid-YTW : 5.12 %
BAM.PF.E FixedReset -2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.24
Evaluated at bid price : 18.24
Bid-YTW : 4.77 %
PWF.PR.T FixedReset -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 3.97 %
HSE.PR.C FixedReset -1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 17.21
Evaluated at bid price : 17.21
Bid-YTW : 5.76 %
BAM.PR.X FixedReset -1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 13.31
Evaluated at bid price : 13.31
Bid-YTW : 4.83 %
CM.PR.Q FixedReset -1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 4.50 %
PWF.PR.P FixedReset -1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 13.10
Evaluated at bid price : 13.10
Bid-YTW : 4.38 %
TRP.PR.F FloatingReset -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 13.20
Evaluated at bid price : 13.20
Bid-YTW : 4.57 %
TRP.PR.E FixedReset -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 17.44
Evaluated at bid price : 17.44
Bid-YTW : 4.71 %
TRP.PR.D FixedReset -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 17.23
Evaluated at bid price : 17.23
Bid-YTW : 4.69 %
BAM.PR.N Perpetual-Discount -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 20.67
Evaluated at bid price : 20.67
Bid-YTW : 5.78 %
BAM.PR.M Perpetual-Discount -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 20.67
Evaluated at bid price : 20.67
Bid-YTW : 5.78 %
BAM.PF.C Perpetual-Discount -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 21.13
Evaluated at bid price : 21.13
Bid-YTW : 5.77 %
BAM.PF.D Perpetual-Discount -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 21.39
Evaluated at bid price : 21.39
Bid-YTW : 5.76 %
SLF.PR.G FixedReset -1.64 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.36
Bid-YTW : 9.56 %
RY.PR.Z FixedReset -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.23 %
BAM.PF.B FixedReset -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 4.93 %
BAM.PF.F FixedReset -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 4.80 %
SLF.PR.J FloatingReset -1.57 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.51
Bid-YTW : 11.05 %
NA.PR.W FixedReset -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 17.11
Evaluated at bid price : 17.11
Bid-YTW : 4.58 %
RY.PR.H FixedReset -1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 4.29 %
TD.PF.D FixedReset -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 4.52 %
TD.PF.A FixedReset -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.27
Evaluated at bid price : 18.27
Bid-YTW : 4.28 %
BAM.PR.C Floater -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 10.01
Evaluated at bid price : 10.01
Bid-YTW : 4.73 %
BAM.PR.K Floater -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 10.06
Evaluated at bid price : 10.06
Bid-YTW : 4.70 %
HSE.PR.G FixedReset -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 5.67 %
SLF.PR.E Deemed-Retractible -1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 6.86 %
BAM.PR.Z FixedReset -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.67
Evaluated at bid price : 18.67
Bid-YTW : 5.01 %
SLF.PR.B Deemed-Retractible -1.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.80
Bid-YTW : 6.16 %
IFC.PR.A FixedReset -1.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.70
Bid-YTW : 10.14 %
BMO.PR.W FixedReset -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.02
Evaluated at bid price : 18.02
Bid-YTW : 4.26 %
BAM.PF.G FixedReset -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 4.75 %
BAM.PR.T FixedReset -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 14.97
Evaluated at bid price : 14.97
Bid-YTW : 5.10 %
BMO.PR.Y FixedReset -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 4.39 %
FTS.PR.H FixedReset -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 13.74
Evaluated at bid price : 13.74
Bid-YTW : 4.00 %
MFC.PR.K FixedReset -1.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.20
Bid-YTW : 8.35 %
MFC.PR.I FixedReset -1.20 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.68
Bid-YTW : 7.03 %
BIP.PR.A FixedReset -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.92
Evaluated at bid price : 18.92
Bid-YTW : 5.69 %
BNS.PR.F FloatingReset -1.20 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.15
Bid-YTW : 8.09 %
CM.PR.P FixedReset -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 17.91
Evaluated at bid price : 17.91
Bid-YTW : 4.27 %
SLF.PR.C Deemed-Retractible -1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.05
Bid-YTW : 6.95 %
MFC.PR.J FixedReset -1.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.71
Bid-YTW : 7.49 %
MFC.PR.B Deemed-Retractible -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.10
Bid-YTW : 6.48 %
TD.PF.C FixedReset -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 4.33 %
SLF.PR.A Deemed-Retractible -1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.61
Bid-YTW : 6.23 %
BMO.PR.T FixedReset -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 4.26 %
TD.PF.B FixedReset -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.19
Evaluated at bid price : 18.19
Bid-YTW : 4.29 %
SLF.PR.D Deemed-Retractible -1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.02
Bid-YTW : 6.97 %
CU.PR.E Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 22.47
Evaluated at bid price : 22.79
Bid-YTW : 5.41 %
BMO.PR.S FixedReset -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 18.44
Evaluated at bid price : 18.44
Bid-YTW : 4.30 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.A FixedReset 134,570 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.66
Bid-YTW : 4.88 %
TD.PF.G FixedReset 94,565 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.35
Bid-YTW : 4.47 %
TRP.PR.J FixedReset 71,029 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.87
Bid-YTW : 4.81 %
IFC.PR.C FixedReset 61,511 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.40
Bid-YTW : 8.37 %
RY.PR.Q FixedReset 48,627 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.32
Bid-YTW : 4.42 %
FTS.PR.M FixedReset 41,932 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 4.39 %
There were 39 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
PWF.PR.Q FloatingReset Quote: 11.50 – 13.25
Spot Rate : 1.7500
Average : 1.2381

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.60 %
FTS.PR.I FloatingReset Quote: 11.92 – 12.89
Spot Rate : 0.9700
Average : 0.6344

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 11.92
Evaluated at bid price : 11.92
Bid-YTW : 4.10 %
GWO.PR.L Deemed-Retractible Quote: 25.39 – 25.97
Spot Rate : 0.5800
Average : 0.3452

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2017-12-31
Maturity Price : 25.25
Evaluated at bid price : 25.39
Bid-YTW : 5.18 %
SLF.PR.J FloatingReset Quote: 12.51 – 13.24
Spot Rate : 0.7300
Average : 0.5085

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.51
Bid-YTW : 11.05 %
CU.PR.C FixedReset Quote: 16.84 – 17.33
Spot Rate : 0.4900
Average : 0.3643

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-24
Maturity Price : 16.84
Evaluated at bid price : 16.84
Bid-YTW : 4.64 %
MFC.PR.K FixedReset Quote: 17.20 – 17.50
Spot Rate : 0.3000
Average : 0.1974

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.20
Bid-YTW : 8.35 %
Market Action

June 23, 2016

Well, holy smokes:

With more than half the results counted, Britons appear to be choosing to withdraw from the European Union.

Several polls published at the end of a bitter campaign suggested the Remain forces would win and leaders of the Leave campaign initially said there were many signs they had lost.

But with more than 200 of the 382 voting areas reporting, Leave was increasing its lead over Remain — 51.5 per cent to 48.5 per cent. The margin between the two sides was about 500,000 votes at that point.
…
The pound first soared in Asian markets as the polls were announced, then collapsed when Leave took an early lead. The loss of more than 5 per cent was even larger than during the global financial crisis.

So it’s an interesting night:

Global markets buckled, with stocks plunging from Tokyo to London and Chicago, after early results from Britain’s referendum on membership of the European Union put the “Leave” campaign ahead. The pound fell the most on record, while haven assets jumped.

Sterling tumbled as much as 8.3 percent, the euro retreated from a six-week high and the yen surged. South Africa’s rand led losses among the currencies of commodity-exporting nations, sliding more than 5 percent as oil sank toward $48 a barrel and industrial metals slumped. Gold soared with U.S. Treasuries as investors piled into haven assets. Futures on the FTSE 100 Index plunged with S&P 500 Index contracts as benchmark stock gauges slid across Asia.

and:

The pound is making history as the chances of a Brexit grow.

The U.K. currency is headed for its biggest drop on record as results from Britain’s European Union referendum showed a stronger-than-expected vote for the “Leave” campaign. Volatility accelerated as the results from the referendum filtered through, with sterling trading in a range of more than 13 U.S. cents as an index of betting odds compiled by Oddschecker put the vote to exit the EU at 88 percent, from 23 percent on Thursday.

The 7.8 percent plunge on Friday compares with the 4.1 percent drop on 1992’s Black Wednesday, when the pound was forced out of Europe’s exchange-rate mechanism — the previous worst daily drop on record. The pound’s biggest-ever intraday decline has already been surpassed – a 5.9 percent decline on Oct. 24, 2008 — when stock markets crashed around the world during the Great Financial Crisis.

To date, the most interesting day of my career was fairly early on; September 16, 1992 – when the UK was forced out of the European Exchange Rate Mechanism.

There’s a pretty good chance that tomorrow will be the second most interesting day of my career!

But who knows? Maybe even these shattering events will be Trumped in November!

All this is happening when liquidity in the Canadian preferred share market is getting a little spotty … look at the quotes today, f’rinstance, on AIM.PR.B (10.06-21.50):

AIMPRB_quote_160623
Click for Big

and HSE.PR.B (10.65-22.00)

HSBPRB_quote_160623
Click for Big

HSE.PR.B was also featured on May 31. I have not checked whether this lamentable state of affairs is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.

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 0.8914 % 1,657.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.8914 % 3,027.9
Floater 4.64 % 4.64 % 63,157 16.17 3 0.8914 % 1,745.0
OpRet 4.87 % 0.70 % 37,896 0.08 1 0.0000 % 2,832.4
SplitShare 4.88 % 4.88 % 87,818 4.64 7 -0.0230 % 3,340.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0230 % 2,606.0
Perpetual-Premium 5.60 % -10.68 % 77,645 0.09 9 0.2480 % 2,636.9
Perpetual-Discount 5.36 % 5.42 % 103,743 14.76 28 0.2650 % 2,740.7
FixedReset 5.15 % 4.62 % 157,335 7.22 88 0.7379 % 1,977.4
Deemed-Retractible 5.12 % 5.26 % 122,034 4.92 33 0.3150 % 2,702.6
FloatingReset 3.13 % 5.13 % 30,405 5.20 18 0.7979 % 2,109.6
Performance Highlights
Issue Index Change Notes
NA.PR.Q FixedReset -1.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.46
Bid-YTW : 4.63 %
TD.PF.D FixedReset 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 19.81
Evaluated at bid price : 19.81
Bid-YTW : 4.45 %
IAG.PR.G FixedReset 1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.90
Bid-YTW : 7.52 %
NA.PR.S FixedReset 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 4.54 %
SLF.PR.I FixedReset 1.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.57
Bid-YTW : 7.60 %
BMO.PR.K Deemed-Retractible 1.14 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-07-23
Maturity Price : 25.25
Evaluated at bid price : 25.64
Bid-YTW : -8.30 %
BMO.PR.Y FixedReset 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 4.33 %
RY.PR.I FixedReset 1.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.12
Bid-YTW : 4.66 %
TD.PF.E FixedReset 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 20.69
Evaluated at bid price : 20.69
Bid-YTW : 4.37 %
BAM.PF.G FixedReset 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 4.69 %
IFC.PR.A FixedReset 1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.89
Bid-YTW : 9.95 %
CM.PR.O FixedReset 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 4.26 %
HSE.PR.A FixedReset 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 11.60
Evaluated at bid price : 11.60
Bid-YTW : 5.17 %
BAM.PF.F FixedReset 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 4.72 %
TRP.PR.F FloatingReset 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 13.45
Evaluated at bid price : 13.45
Bid-YTW : 4.48 %
TRP.PR.C FixedReset 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 12.37
Evaluated at bid price : 12.37
Bid-YTW : 4.53 %
MFC.PR.M FixedReset 1.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.58
Bid-YTW : 7.58 %
MFC.PR.N FixedReset 1.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.54
Bid-YTW : 7.54 %
IFC.PR.C FixedReset 1.45 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.51
Bid-YTW : 8.27 %
GWO.PR.N FixedReset 1.45 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.00
Bid-YTW : 9.79 %
RY.PR.M FixedReset 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 19.39
Evaluated at bid price : 19.39
Bid-YTW : 4.36 %
BAM.PR.Z FixedReset 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 18.92
Evaluated at bid price : 18.92
Bid-YTW : 4.94 %
CM.PR.P FixedReset 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 4.24 %
TRP.PR.D FixedReset 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 17.54
Evaluated at bid price : 17.54
Bid-YTW : 4.61 %
BAM.PF.E FixedReset 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 4.66 %
PWF.PR.T FixedReset 1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 3.88 %
FTS.PR.I FloatingReset 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 4.00 %
MFC.PR.F FixedReset 1.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.78
Bid-YTW : 10.09 %
SLF.PR.H FixedReset 1.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.17
Bid-YTW : 8.78 %
BAM.PF.A FixedReset 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 4.83 %
BNS.PR.F FloatingReset 1.72 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.37
Bid-YTW : 7.84 %
BAM.PF.B FixedReset 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 17.79
Evaluated at bid price : 17.79
Bid-YTW : 4.85 %
TRP.PR.H FloatingReset 1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 10.14
Evaluated at bid price : 10.14
Bid-YTW : 4.37 %
RY.PR.J FixedReset 1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 4.42 %
BMO.PR.Q FixedReset 2.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.91
Bid-YTW : 6.26 %
CU.PR.C FixedReset 2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 4.52 %
PWF.PR.P FixedReset 2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 13.35
Evaluated at bid price : 13.35
Bid-YTW : 4.30 %
TRP.PR.B FixedReset 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 11.70
Evaluated at bid price : 11.70
Bid-YTW : 4.24 %
SLF.PR.G FixedReset 2.96 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.60
Bid-YTW : 9.33 %
MFC.PR.P FloatingReset 8.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.50
Bid-YTW : 11.09 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PWF.PR.R Perpetual-Discount 105,227 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 24.64
Evaluated at bid price : 25.12
Bid-YTW : 5.54 %
RY.PR.K FloatingReset 84,900 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.75
Bid-YTW : 5.10 %
BAM.PR.M Perpetual-Discount 55,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 21.04
Evaluated at bid price : 21.04
Bid-YTW : 5.68 %
TRP.PR.D FixedReset 40,954 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 17.54
Evaluated at bid price : 17.54
Bid-YTW : 4.61 %
EML.PR.A FixedReset 39,527 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 25.62
Bid-YTW : 5.45 %
FTS.PR.G FixedReset 33,150 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 4.27 %
There were 46 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.B FloatingReset Quote: 10.65 – 12.65
Spot Rate : 2.0000
Average : 1.3525

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 10.65
Evaluated at bid price : 10.65
Bid-YTW : 5.22 %
RY.PR.K FloatingReset Quote: 21.75 – 22.36
Spot Rate : 0.6100
Average : 0.4270

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.75
Bid-YTW : 5.10 %
FTS.PR.M FixedReset Quote: 18.90 – 19.37
Spot Rate : 0.4700
Average : 0.3215

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 4.41 %
TRP.PR.G FixedReset Quote: 18.47 – 18.82
Spot Rate : 0.3500
Average : 0.2292

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 18.47
Evaluated at bid price : 18.47
Bid-YTW : 5.00 %
NA.PR.Q FixedReset Quote: 23.46 – 23.94
Spot Rate : 0.4800
Average : 0.3627

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.46
Bid-YTW : 4.63 %
TRP.PR.E FixedReset Quote: 17.77 – 18.08
Spot Rate : 0.3100
Average : 0.1958

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-23
Maturity Price : 17.77
Evaluated at bid price : 17.77
Bid-YTW : 4.62 %
Market Action

June 22, 2016

Canada Post is looking at drones:

The post office is quietly exploring the possibility of small, unmanned aerial vehicles one day helping get the mail to where it needs to go, said Jon Hamilton, a Canada Post spokesman.
…
Canada Post declined to release documents through the Access to Information Act about its interest in drones, citing sensitivities such as trade secrets and financial, commercial, scientific or technical data.

But Mr. Hamilton insists there are no drone prototypes in the post office laboratory – at least not yet.

He characterized the effort as a “paper exercise” at the very early exploratory stages, aimed at “examining what’s out there today.”

I wonder, I wonder … I wonder if current technology would allow for a cheap dumb mechanical system to be added to community mailboxes – so a drone could deliver the mail to a hopper on a community mailbox and a sorter would put the individual letters in their proper boxes …

PerpetualDiscounts now yield 5.43%, equivalent to 7.06% interest at the standard equivalency factor of 1.3x. Long corporates now yield about 3.95%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 310bp, a significant narrowing from the 320bp reported June 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 0.1322 % 1,642.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1322 % 3,001.1
Floater 4.68 % 4.68 % 61,088 16.09 3 0.1322 % 1,729.6
OpRet 4.87 % 0.54 % 38,088 0.08 1 0.0398 % 2,832.4
SplitShare 4.88 % 5.13 % 86,291 4.65 7 0.1842 % 3,340.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1842 % 2,606.6
Perpetual-Premium 5.61 % -10.41 % 78,638 0.09 9 0.1482 % 2,630.4
Perpetual-Discount 5.37 % 5.43 % 103,277 14.75 28 0.1565 % 2,733.5
FixedReset 5.19 % 4.62 % 157,319 7.21 88 0.2027 % 1,962.9
Deemed-Retractible 5.14 % 5.28 % 124,017 4.92 33 -0.2008 % 2,694.1
FloatingReset 3.15 % 5.17 % 28,159 5.19 18 0.1049 % 2,092.9
Performance Highlights
Issue Index Change Notes
BNS.PR.F FloatingReset -2.64 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.06
Bid-YTW : 8.18 %
CCS.PR.C Deemed-Retractible -1.72 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.91
Bid-YTW : 6.29 %
TRP.PR.H FloatingReset -1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 9.95
Evaluated at bid price : 9.95
Bid-YTW : 4.45 %
PWF.PR.Q FloatingReset -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 12.35
Evaluated at bid price : 12.35
Bid-YTW : 4.28 %
MFC.PR.L FixedReset -1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.63
Bid-YTW : 8.11 %
BAM.PF.C Perpetual-Discount 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 5.71 %
FTS.PR.K FixedReset 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 4.20 %
TRP.PR.D FixedReset 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 17.27
Evaluated at bid price : 17.27
Bid-YTW : 4.68 %
BAM.PR.T FixedReset 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 15.10
Evaluated at bid price : 15.10
Bid-YTW : 5.05 %
FTS.PR.G FixedReset 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 17.03
Evaluated at bid price : 17.03
Bid-YTW : 4.30 %
BAM.PR.R FixedReset 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 5.04 %
TRP.PR.B FixedReset 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 11.41
Evaluated at bid price : 11.41
Bid-YTW : 4.35 %
FTS.PR.I FloatingReset 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 4.07 %
TRP.PR.C FixedReset 2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 12.20
Evaluated at bid price : 12.20
Bid-YTW : 4.59 %
GWO.PR.O FloatingReset 3.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.20
Bid-YTW : 10.14 %
MFC.PR.P FloatingReset 3.60 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 11.50
Bid-YTW : 12.25 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.A FixedReset 139,496 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.61
Bid-YTW : 4.92 %
PWF.PR.R Perpetual-Discount 115,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 24.58
Evaluated at bid price : 25.06
Bid-YTW : 5.55 %
TRP.PR.J FixedReset 84,700 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.92
Bid-YTW : 4.76 %
TD.PF.B FixedReset 74,391 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 18.29
Evaluated at bid price : 18.29
Bid-YTW : 4.27 %
TD.PF.D FixedReset 65,356 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 19.61
Evaluated at bid price : 19.61
Bid-YTW : 4.50 %
TD.PF.G FixedReset 34,212 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.25
Bid-YTW : 4.55 %
There were 26 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
HSE.PR.B FloatingReset Quote: 10.67 – 11.60
Spot Rate : 0.9300
Average : 0.6425

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 10.67
Evaluated at bid price : 10.67
Bid-YTW : 5.21 %
GWO.PR.N FixedReset Quote: 13.80 – 14.28
Spot Rate : 0.4800
Average : 0.3554

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.80
Bid-YTW : 9.99 %
BIP.PR.A FixedReset Quote: 19.05 – 19.35
Spot Rate : 0.3000
Average : 0.2109

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 5.64 %
TD.PR.T FloatingReset Quote: 21.50 – 21.79
Spot Rate : 0.2900
Average : 0.2185

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.50
Bid-YTW : 5.06 %
W.PR.K FixedReset Quote: 25.52 – 25.75
Spot Rate : 0.2300
Average : 0.1597

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-01-15
Maturity Price : 25.00
Evaluated at bid price : 25.52
Bid-YTW : 5.01 %
FTS.PR.H FixedReset Quote: 13.91 – 14.24
Spot Rate : 0.3300
Average : 0.2623

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-22
Maturity Price : 13.91
Evaluated at bid price : 13.91
Bid-YTW : 3.95 %
Market Action

June 21, 2016

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 0.1987 % 1,640.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1987 % 2,997.2
Floater 4.69 % 4.68 % 60,935 16.09 3 0.1987 % 1,727.3
OpRet 4.87 % 0.86 % 37,636 0.08 1 0.0398 % 2,831.3
SplitShare 4.89 % 5.12 % 86,431 4.65 7 -0.0012 % 3,334.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0012 % 2,601.8
Perpetual-Premium 5.62 % -8.40 % 78,264 0.09 9 0.3493 % 2,626.5
Perpetual-Discount 5.38 % 5.42 % 104,319 14.75 28 0.1530 % 2,729.2
FixedReset 5.20 % 4.68 % 161,188 7.20 88 0.3387 % 1,958.9
Deemed-Retractible 5.13 % 5.32 % 125,603 4.92 33 0.3675 % 2,699.6
FloatingReset 3.11 % 5.14 % 28,298 5.20 17 0.0704 % 2,090.8
Performance Highlights
Issue Index Change Notes
TRP.PR.C FixedReset -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 11.95
Evaluated at bid price : 11.95
Bid-YTW : 4.69 %
TRP.PR.F FloatingReset -1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 4.55 %
BMO.PR.Q FixedReset -1.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.52
Bid-YTW : 6.64 %
BMO.PR.Y FixedReset 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 20.03
Evaluated at bid price : 20.03
Bid-YTW : 4.36 %
BAM.PF.A FixedReset 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 18.74
Evaluated at bid price : 18.74
Bid-YTW : 4.92 %
SLF.PR.D Deemed-Retractible 1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 6.80 %
SLF.PR.B Deemed-Retractible 1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.98
Bid-YTW : 6.03 %
IFC.PR.C FixedReset 1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.18
Bid-YTW : 8.54 %
GWO.PR.I Deemed-Retractible 1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.70
Bid-YTW : 6.55 %
PWF.PR.K Perpetual-Discount 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 22.86
Evaluated at bid price : 23.13
Bid-YTW : 5.42 %
HSE.PR.A FixedReset 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 11.45
Evaluated at bid price : 11.45
Bid-YTW : 5.24 %
BAM.PF.F FixedReset 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 4.77 %
CCS.PR.C Deemed-Retractible 1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.31
Bid-YTW : 6.04 %
SLF.PR.I FixedReset 1.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.25
Bid-YTW : 7.84 %
BAM.PR.R FixedReset 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 14.53
Evaluated at bid price : 14.53
Bid-YTW : 5.11 %
RY.PR.M FixedReset 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 4.44 %
PWF.PR.P FixedReset 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 4.42 %
MFC.PR.I FixedReset 1.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.87
Bid-YTW : 6.88 %
SLF.PR.H FixedReset 1.61 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.78
Bid-YTW : 9.12 %
PWF.PR.Q FloatingReset 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 12.50
Evaluated at bid price : 12.50
Bid-YTW : 4.23 %
NA.PR.Q FixedReset 1.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.71
Bid-YTW : 4.41 %
SLF.PR.G FixedReset 1.86 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.26
Bid-YTW : 9.65 %
IFC.PR.A FixedReset 1.86 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.77
Bid-YTW : 10.06 %
BAM.PF.B FixedReset 1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 17.44
Evaluated at bid price : 17.44
Bid-YTW : 4.94 %
BAM.PR.Z FixedReset 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 18.76
Evaluated at bid price : 18.76
Bid-YTW : 4.99 %
SLF.PR.J FloatingReset 2.04 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.50
Bid-YTW : 11.05 %
BAM.PR.T FixedReset 2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 14.92
Evaluated at bid price : 14.92
Bid-YTW : 5.12 %
MFC.PR.F FixedReset 2.90 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.50
Bid-YTW : 10.29 %
FTS.PR.H FixedReset 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 13.91
Evaluated at bid price : 13.91
Bid-YTW : 3.95 %
BAM.PR.X FixedReset 3.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 13.46
Evaluated at bid price : 13.46
Bid-YTW : 4.77 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.J FixedReset 152,760 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.77
Bid-YTW : 4.90 %
TRP.PR.D FixedReset 115,352 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 17.07
Evaluated at bid price : 17.07
Bid-YTW : 4.74 %
IFC.PR.C FixedReset 108,068 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.18
Bid-YTW : 8.54 %
RY.PR.Z FixedReset 98,325 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 4.21 %
NA.PR.A FixedReset 56,903 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.53
Bid-YTW : 4.99 %
POW.PR.D Perpetual-Discount 54,040 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 5.46 %
There were 44 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.H FloatingReset Quote: 10.10 – 10.99
Spot Rate : 0.8900
Average : 0.5553

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 10.10
Evaluated at bid price : 10.10
Bid-YTW : 4.38 %
CCS.PR.C Deemed-Retractible Quote: 23.31 – 23.98
Spot Rate : 0.6700
Average : 0.4906

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.31
Bid-YTW : 6.04 %
TRP.PR.C FixedReset Quote: 11.95 – 12.30
Spot Rate : 0.3500
Average : 0.2327

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 11.95
Evaluated at bid price : 11.95
Bid-YTW : 4.69 %
TD.PR.Y FixedReset Quote: 23.38 – 23.67
Spot Rate : 0.2900
Average : 0.1912

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.38
Bid-YTW : 4.31 %
GWO.PR.O FloatingReset Quote: 12.80 – 13.50
Spot Rate : 0.7000
Average : 0.6031

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.80
Bid-YTW : 10.56 %
TRP.PR.F FloatingReset Quote: 13.25 – 13.68
Spot Rate : 0.4300
Average : 0.3376

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-21
Maturity Price : 13.25
Evaluated at bid price : 13.25
Bid-YTW : 4.55 %
Market Action

June 20, 2016

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 0.9361 % 1,637.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.9361 % 2,991.2
Floater 4.70 % 4.69 % 60,853 16.08 3 0.9361 % 1,723.9
OpRet 4.87 % 1.18 % 39,167 0.08 1 0.0000 % 2,830.1
SplitShare 4.89 % 5.12 % 87,268 4.65 7 0.0922 % 3,334.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0922 % 2,601.8
Perpetual-Premium 5.62 % -0.52 % 74,889 0.09 9 0.0566 % 2,617.3
Perpetual-Discount 5.39 % 5.48 % 105,298 14.61 28 0.4023 % 2,725.0
FixedReset 5.21 % 4.70 % 162,840 7.35 88 1.1176 % 1,952.3
Deemed-Retractible 5.14 % 5.37 % 126,344 4.92 33 0.0431 % 2,689.7
FloatingReset 3.11 % 5.14 % 28,530 5.20 17 0.7624 % 2,089.3
Performance Highlights
Issue Index Change Notes
CCS.PR.C Deemed-Retractible -1.71 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.23 %
BMO.PR.T FixedReset 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.26 %
CM.PR.P FixedReset 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 4.31 %
CU.PR.E Perpetual-Discount 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 22.69
Evaluated at bid price : 23.05
Bid-YTW : 5.35 %
TRP.PR.C FixedReset 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 12.15
Evaluated at bid price : 12.15
Bid-YTW : 4.61 %
TD.PR.S FixedReset 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 4.44 %
CU.PR.D Perpetual-Discount 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 22.64
Evaluated at bid price : 22.99
Bid-YTW : 5.36 %
BAM.PR.B Floater 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 10.10
Evaluated at bid price : 10.10
Bid-YTW : 4.68 %
RY.PR.H FixedReset 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 4.24 %
SLF.PR.I FixedReset 1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.00
Bid-YTW : 8.04 %
BMO.PR.Q FixedReset 1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.72
Bid-YTW : 6.44 %
MFC.PR.I FixedReset 1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.56
Bid-YTW : 7.10 %
TD.PF.B FixedReset 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 4.29 %
MFC.PR.G FixedReset 1.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.73
Bid-YTW : 7.66 %
MFC.PR.H FixedReset 1.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.13
Bid-YTW : 6.23 %
TD.PF.C FixedReset 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.02
Evaluated at bid price : 18.02
Bid-YTW : 4.33 %
CM.PR.Q FixedReset 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.52 %
MFC.PR.K FixedReset 1.47 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.20
Bid-YTW : 8.34 %
TRP.PR.D FixedReset 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.17
Evaluated at bid price : 17.17
Bid-YTW : 4.71 %
BAM.PF.B FixedReset 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.12
Evaluated at bid price : 17.12
Bid-YTW : 5.04 %
CU.PR.C FixedReset 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 4.59 %
BAM.PF.H FixedReset 1.53 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.90
Bid-YTW : 4.11 %
MFC.PR.M FixedReset 1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.38
Bid-YTW : 7.72 %
RY.PR.I FixedReset 1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.95
Bid-YTW : 4.80 %
FTS.PR.I FloatingReset 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 4.14 %
PWF.PR.T FixedReset 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 20.37
Evaluated at bid price : 20.37
Bid-YTW : 3.97 %
TRP.PR.A FixedReset 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 4.69 %
IAG.PR.G FixedReset 1.65 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.51
Bid-YTW : 7.81 %
VNR.PR.A FixedReset 1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.97
Evaluated at bid price : 17.97
Bid-YTW : 5.00 %
TD.PF.D FixedReset 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 19.59
Evaluated at bid price : 19.59
Bid-YTW : 4.50 %
TRP.PR.E FixedReset 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.62
Evaluated at bid price : 17.62
Bid-YTW : 4.66 %
MFC.PR.N FixedReset 1.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.40
Bid-YTW : 7.64 %
MFC.PR.J FixedReset 1.90 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.80
Bid-YTW : 7.41 %
GWO.PR.N FixedReset 1.92 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.81
Bid-YTW : 9.97 %
TD.PF.E FixedReset 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 4.43 %
BAM.PF.F FixedReset 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 4.83 %
BAM.PF.A FixedReset 2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 4.97 %
HSE.PR.C FixedReset 2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 5.57 %
MFC.PR.L FixedReset 2.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.90
Bid-YTW : 7.89 %
CM.PR.O FixedReset 2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.39
Evaluated at bid price : 18.39
Bid-YTW : 4.33 %
IFC.PR.C FixedReset 2.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.00
Bid-YTW : 8.69 %
TRP.PR.H FloatingReset 2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 10.16
Evaluated at bid price : 10.16
Bid-YTW : 4.36 %
FTS.PR.M FixedReset 2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.69
Evaluated at bid price : 18.69
Bid-YTW : 4.46 %
BAM.PF.E FixedReset 2.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.80 %
TRP.PR.I FloatingReset 2.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 11.66
Evaluated at bid price : 11.66
Bid-YTW : 4.40 %
IFC.PR.A FixedReset 2.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.50
Bid-YTW : 10.32 %
MFC.PR.F FixedReset 2.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.12
Bid-YTW : 10.68 %
FTS.PR.K FixedReset 2.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 4.21 %
BAM.PR.T FixedReset 2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 5.23 %
TRP.PR.F FloatingReset 3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 13.45
Evaluated at bid price : 13.45
Bid-YTW : 4.48 %
FTS.PR.G FixedReset 3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 4.36 %
BAM.PF.G FixedReset 3.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.78 %
PWF.PR.P FixedReset 3.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 12.80
Evaluated at bid price : 12.80
Bid-YTW : 4.49 %
PWF.PR.Q FloatingReset 6.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 4.30 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.A FixedReset 350,040 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-15
Maturity Price : 25.00
Evaluated at bid price : 25.46
Bid-YTW : 5.05 %
TRP.PR.J FixedReset 123,097 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.77
Bid-YTW : 4.89 %
BAM.PR.Z FixedReset 106,434 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 18.41
Evaluated at bid price : 18.41
Bid-YTW : 5.08 %
HSE.PR.A FixedReset 99,910 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 11.31
Evaluated at bid price : 11.31
Bid-YTW : 5.30 %
TRP.PR.D FixedReset 95,218 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 17.17
Evaluated at bid price : 17.17
Bid-YTW : 4.71 %
TD.PF.G FixedReset 79,689 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.30
Bid-YTW : 4.50 %
There were 36 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.R FloatingReset Quote: 21.43 – 22.45
Spot Rate : 1.0200
Average : 0.7070

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.43
Bid-YTW : 5.08 %
CCS.PR.C Deemed-Retractible Quote: 23.00 – 23.45
Spot Rate : 0.4500
Average : 0.2939

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.23 %
IAG.PR.A Deemed-Retractible Quote: 22.02 – 22.44
Spot Rate : 0.4200
Average : 0.3046

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.02
Bid-YTW : 6.44 %
IGM.PR.B Perpetual-Premium Quote: 25.40 – 25.68
Spot Rate : 0.2800
Average : 0.1811

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2018-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.40
Bid-YTW : 5.61 %
BNS.PR.D FloatingReset Quote: 18.64 – 18.92
Spot Rate : 0.2800
Average : 0.1882

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.64
Bid-YTW : 7.12 %
TRP.PR.B FixedReset Quote: 11.30 – 11.60
Spot Rate : 0.3000
Average : 0.2165

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-20
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 4.39 %
Market Action

June 17, 2016

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 -0.5652 % 1,622.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.5652 % 2,963.5
Floater 4.74 % 4.73 % 61,620 16.01 3 -0.5652 % 1,707.9
OpRet 4.87 % 0.69 % 39,353 0.08 1 0.0398 % 2,830.1
SplitShare 4.89 % 5.03 % 86,782 4.66 7 -0.0349 % 3,331.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0349 % 2,599.4
Perpetual-Premium 5.62 % 0.85 % 75,169 0.09 9 -0.0479 % 2,615.9
Perpetual-Discount 5.41 % 5.48 % 105,674 14.60 28 -0.0647 % 2,714.1
FixedReset 5.30 % 4.74 % 160,854 7.36 88 -0.1981 % 1,930.7
Deemed-Retractible 5.15 % 5.41 % 124,956 4.93 33 -0.1127 % 2,688.5
FloatingReset 3.20 % 5.16 % 27,140 5.20 17 -0.2758 % 2,073.5
Performance Highlights
Issue Index Change Notes
TRP.PR.F FloatingReset -3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 4.69 %
TRP.PR.I FloatingReset -2.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 11.35
Evaluated at bid price : 11.35
Bid-YTW : 4.61 %
TRP.PR.E FixedReset -2.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.32
Evaluated at bid price : 17.32
Bid-YTW : 4.66 %
TRP.PR.G FixedReset -2.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 5.01 %
IAG.PR.G FixedReset -1.57 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.21
Bid-YTW : 7.98 %
MFC.PR.F FixedReset -1.54 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.76
Bid-YTW : 10.97 %
FTS.PR.M FixedReset -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.23
Evaluated at bid price : 18.23
Bid-YTW : 4.51 %
HSE.PR.G FixedReset -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 19.22
Evaluated at bid price : 19.22
Bid-YTW : 5.52 %
BAM.PR.T FixedReset -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 14.18
Evaluated at bid price : 14.18
Bid-YTW : 5.28 %
HSE.PR.C FixedReset -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.36
Evaluated at bid price : 17.36
Bid-YTW : 5.63 %
BAM.PF.G FixedReset -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.88
Evaluated at bid price : 18.88
Bid-YTW : 4.87 %
VNR.PR.A FixedReset -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.67
Evaluated at bid price : 17.67
Bid-YTW : 5.00 %
MFC.PR.N FixedReset -1.26 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.06
Bid-YTW : 7.86 %
FTS.PR.G FixedReset -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 4.41 %
MFC.PR.M FixedReset -1.20 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.10
Bid-YTW : 7.90 %
HSE.PR.A FixedReset -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 11.31
Evaluated at bid price : 11.31
Bid-YTW : 5.20 %
TRP.PR.D FixedReset -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 16.92
Evaluated at bid price : 16.92
Bid-YTW : 4.70 %
GWO.PR.N FixedReset -1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.55
Bid-YTW : 10.19 %
BAM.PR.B Floater -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 9.99
Evaluated at bid price : 9.99
Bid-YTW : 4.73 %
NA.PR.S FixedReset -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 4.56 %
FTS.PR.F Perpetual-Discount -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 23.09
Evaluated at bid price : 23.35
Bid-YTW : 5.28 %
RY.PR.I FixedReset -1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.60
Bid-YTW : 5.06 %
PWF.PR.P FixedReset -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 12.38
Evaluated at bid price : 12.38
Bid-YTW : 4.55 %
TD.PF.B FixedReset 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.98
Evaluated at bid price : 17.98
Bid-YTW : 4.27 %
BMO.PR.S FixedReset 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.22
Evaluated at bid price : 18.22
Bid-YTW : 4.27 %
RY.PR.H FixedReset 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.21 %
SLF.PR.G FixedReset 1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.00
Bid-YTW : 9.85 %
RY.PR.Z FixedReset 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.07
Evaluated at bid price : 18.07
Bid-YTW : 4.16 %
CM.PR.P FixedReset 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.86
Evaluated at bid price : 17.86
Bid-YTW : 4.28 %
BMO.PR.T FixedReset 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 4.23 %
RY.PR.J FixedReset 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 4.52 %
BMO.PR.W FixedReset 1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 4.21 %
TRP.PR.C FixedReset 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 12.02
Evaluated at bid price : 12.02
Bid-YTW : 4.56 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BAM.PF.H FixedReset 159,094 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.51
Bid-YTW : 4.48 %
RY.PR.Z FixedReset 97,596 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 18.07
Evaluated at bid price : 18.07
Bid-YTW : 4.16 %
TD.PF.G FixedReset 89,975 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.15
Bid-YTW : 4.63 %
BMO.PR.T FixedReset 84,532 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 4.23 %
NA.PR.S FixedReset 68,891 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 4.56 %
CM.PR.P FixedReset 66,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.86
Evaluated at bid price : 17.86
Bid-YTW : 4.28 %
There were 40 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CM.PR.Q FixedReset Quote: 19.22 – 19.87
Spot Rate : 0.6500
Average : 0.4270

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 19.22
Evaluated at bid price : 19.22
Bid-YTW : 4.53 %
TRP.PR.I FloatingReset Quote: 11.35 – 12.00
Spot Rate : 0.6500
Average : 0.4378

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 11.35
Evaluated at bid price : 11.35
Bid-YTW : 4.61 %
ALB.PR.C SplitShare Quote: 26.07 – 26.99
Spot Rate : 0.9200
Average : 0.7279

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2017-02-28
Maturity Price : 25.67
Evaluated at bid price : 26.07
Bid-YTW : 2.80 %
TRP.PR.E FixedReset Quote: 17.32 – 17.79
Spot Rate : 0.4700
Average : 0.2842

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.32
Evaluated at bid price : 17.32
Bid-YTW : 4.66 %
TD.PF.G FixedReset Quote: 26.15 – 26.56
Spot Rate : 0.4100
Average : 0.2389

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.15
Bid-YTW : 4.63 %
VNR.PR.A FixedReset Quote: 17.67 – 18.20
Spot Rate : 0.5300
Average : 0.3640

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-06-17
Maturity Price : 17.67
Evaluated at bid price : 17.67
Bid-YTW : 5.00 %