Category: Market Action

Market Action

April 13, 2016

PerpetualDiscounts now yield 5.55%, equivalent to 7.22% at the standard equivalency factor of 1.3x. Long corporates now yield 4.05%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 315bp, a slight (and perhaps spurious) narrowing from the 320bp reported April 6.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading
Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 4.60 % 5.58 % 9,732 17.17 1 1.9431 % 1,709.2
FixedFloater 6.62 % 5.72 % 20,818 16.89 1 -1.8338 % 3,052.8
Floater 4.56 % 4.69 % 55,975 16.08 4 -0.4083 % 1,698.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0338 % 2,804.2
SplitShare 4.72 % 5.09 % 90,306 1.57 6 -0.0338 % 3,281.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0338 % 2,560.3
Perpetual-Premium 5.77 % -14.34 % 90,904 0.09 6 -0.0263 % 2,593.6
Perpetual-Discount 5.51 % 5.55 % 91,674 14.61 33 0.0013 % 2,649.8
FixedReset 5.11 % 4.58 % 175,557 14.35 87 -0.9732 % 1,992.1
Deemed-Retractible 5.16 % 5.34 % 124,685 5.09 34 -0.1752 % 2,643.2
FloatingReset 3.05 % 4.62 % 34,569 5.39 17 -0.1052 % 2,086.8
Performance Highlights
Issue Index Change Notes
TRP.PR.G FixedReset -7.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 4.85 %
BMO.PR.T FixedReset -4.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 4.32 %
TRP.PR.E FixedReset -4.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 4.37 %
IFC.PR.C FixedReset -4.51 % 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 %
TRP.PR.C FixedReset -3.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 4.65 %
TRP.PR.D FixedReset -3.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 4.55 %
MFC.PR.F FixedReset -2.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.16
Bid-YTW : 10.58 %
BMO.PR.W FixedReset -2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.59
Evaluated at bid price : 18.59
Bid-YTW : 4.21 %
TRP.PR.B FixedReset -2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 4.40 %
TRP.PR.F FloatingReset -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 12.63
Evaluated at bid price : 12.63
Bid-YTW : 4.73 %
TD.PF.B FixedReset -2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 4.15 %
BMO.PR.S FixedReset -2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 19.36
Evaluated at bid price : 19.36
Bid-YTW : 4.17 %
HSE.PR.A FixedReset -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 11.11
Evaluated at bid price : 11.11
Bid-YTW : 5.50 %
TD.PF.A FixedReset -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 4.12 %
BAM.PR.G FixedFloater -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 25.00
Evaluated at bid price : 14.35
Bid-YTW : 5.72 %
TD.PF.C FixedReset -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.81
Evaluated at bid price : 18.81
Bid-YTW : 4.15 %
MFC.PR.H FixedReset -1.82 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.00
Bid-YTW : 6.40 %
IFC.PR.A FixedReset -1.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.11
Bid-YTW : 9.67 %
HSE.PR.C FixedReset -1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 5.67 %
IAG.PR.G FixedReset -1.69 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.35
Bid-YTW : 6.52 %
BAM.PF.B FixedReset -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.18
Evaluated at bid price : 18.18
Bid-YTW : 4.81 %
MFC.PR.J FixedReset -1.65 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.66
Bid-YTW : 6.82 %
NA.PR.S FixedReset -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 19.08
Evaluated at bid price : 19.08
Bid-YTW : 4.27 %
CM.PR.P FixedReset -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.83
Evaluated at bid price : 18.83
Bid-YTW : 4.13 %
CM.PR.Q FixedReset -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 4.38 %
PWF.PR.T FixedReset -1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 3.91 %
RY.PR.Z FixedReset -1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 19.16
Evaluated at bid price : 19.16
Bid-YTW : 4.08 %
RY.PR.H FixedReset -1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 19.16
Evaluated at bid price : 19.16
Bid-YTW : 4.13 %
NA.PR.W FixedReset -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 4.32 %
BNS.PR.F FloatingReset -1.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.02
Bid-YTW : 6.85 %
BNS.PR.E FixedReset -1.26 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-25
Maturity Price : 25.00
Evaluated at bid price : 25.82
Bid-YTW : 4.74 %
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 : 20.00
Bid-YTW : 6.24 %
MFC.PR.B Deemed-Retractible -1.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.65
Bid-YTW : 6.78 %
SLF.PR.J FloatingReset -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.36
Bid-YTW : 11.00 %
BAM.PR.E Ratchet 1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 25.00
Evaluated at bid price : 14.69
Bid-YTW : 5.58 %
GWO.PR.O FloatingReset 2.86 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.60
Bid-YTW : 10.57 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BNS.PR.L Deemed-Retractible 658,750 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-05-27
Maturity Price : 25.00
Evaluated at bid price : 24.98
Bid-YTW : 3.45 %
TD.PF.G FixedReset 230,449 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.95
Bid-YTW : 4.62 %
EML.PR.A FixedReset 100,837 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-17
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : 5.31 %
BMO.PR.W FixedReset 56,223 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.59
Evaluated at bid price : 18.59
Bid-YTW : 4.21 %
BAM.PF.H FixedReset 45,711 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.56
Bid-YTW : 4.53 %
RY.PR.H FixedReset 41,880 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 19.16
Evaluated at bid price : 19.16
Bid-YTW : 4.13 %
There were 28 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.J FixedReset Quote: 19.66 – 20.26
Spot Rate : 0.6000
Average : 0.3766

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.66
Bid-YTW : 6.82 %
MFC.PR.F FixedReset Quote: 13.16 – 13.78
Spot Rate : 0.6200
Average : 0.3983

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.16
Bid-YTW : 10.58 %
BMO.PR.T FixedReset Quote: 18.25 – 18.90
Spot Rate : 0.6500
Average : 0.4330

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-13
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 4.32 %
BNS.PR.E FixedReset Quote: 25.82 – 26.27
Spot Rate : 0.4500
Average : 0.2797

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-25
Maturity Price : 25.00
Evaluated at bid price : 25.82
Bid-YTW : 4.74 %
GWO.PR.O FloatingReset Quote: 12.60 – 14.25
Spot Rate : 1.6500
Average : 1.4809

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.60
Bid-YTW : 10.57 %
IAG.PR.A Deemed-Retractible Quote: 21.75 – 22.25
Spot Rate : 0.5000
Average : 0.3356

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.75
Bid-YTW : 6.63 %
Market Action

April 12, 2016

Just the bare bones again!

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 4.69 % 5.70 % 10,068 17.03 1 0.0694 % 1,676.6
FixedFloater 6.39 % 5.61 % 20,354 16.76 1 3.1944 % 3,109.8
Floater 4.54 % 4.68 % 56,751 16.11 4 0.2649 % 1,705.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.1965 % 2,805.2
SplitShare 4.72 % 5.08 % 91,262 1.58 6 0.1965 % 3,282.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1965 % 2,561.2
Perpetual-Premium 5.77 % -15.39 % 90,915 0.09 6 -0.0131 % 2,594.3
Perpetual-Discount 5.51 % 5.53 % 92,240 14.62 33 0.2530 % 2,649.8
FixedReset 5.06 % 4.52 % 179,626 14.31 87 0.2279 % 2,011.6
Deemed-Retractible 5.15 % 5.31 % 126,458 5.09 34 0.1434 % 2,647.8
FloatingReset 3.04 % 4.61 % 34,922 5.39 17 0.2601 % 2,088.9
Performance Highlights
Issue Index Change Notes
TRP.PR.A FixedReset -3.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 15.02
Evaluated at bid price : 15.02
Bid-YTW : 4.61 %
TRP.PR.B FixedReset -1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 11.86
Evaluated at bid price : 11.86
Bid-YTW : 4.28 %
BNS.PR.Z FixedReset -1.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.65
Bid-YTW : 5.61 %
FTS.PR.I FloatingReset -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 11.32
Evaluated at bid price : 11.32
Bid-YTW : 4.24 %
BIP.PR.A FixedReset -1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.62 %
TRP.PR.D FixedReset -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 4.37 %
TD.PF.E FixedReset 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 4.27 %
BAM.PF.A FixedReset 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 19.92
Evaluated at bid price : 19.92
Bid-YTW : 4.70 %
MFC.PR.I FixedReset 1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.60
Bid-YTW : 6.43 %
GWO.PR.N FixedReset 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.80
Bid-YTW : 9.88 %
SLF.PR.J FloatingReset 1.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.50
Bid-YTW : 10.84 %
BAM.PR.X FixedReset 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 4.44 %
BAM.PR.T FixedReset 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 4.93 %
MFC.PR.H FixedReset 1.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.39
Bid-YTW : 6.13 %
BNS.PR.F FloatingReset 1.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.27
Bid-YTW : 6.60 %
HSE.PR.E FixedReset 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 5.52 %
TRP.PR.F FloatingReset 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 12.94
Evaluated at bid price : 12.94
Bid-YTW : 4.61 %
HSE.PR.G FixedReset 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.52 %
BMO.PR.Q FixedReset 1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.25
Bid-YTW : 6.00 %
TD.PF.D FixedReset 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 4.25 %
MFC.PR.J FixedReset 1.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.99
Bid-YTW : 6.58 %
SLF.PR.H FixedReset 1.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.35
Bid-YTW : 8.66 %
NA.PR.S FixedReset 1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 19.39
Evaluated at bid price : 19.39
Bid-YTW : 4.19 %
TRP.PR.C FixedReset 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 12.60
Evaluated at bid price : 12.60
Bid-YTW : 4.47 %
BAM.PF.B FixedReset 1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 18.49
Evaluated at bid price : 18.49
Bid-YTW : 4.73 %
GWO.PR.O FloatingReset 2.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.25
Bid-YTW : 10.94 %
PWF.PR.Q FloatingReset 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 4.36 %
PWF.PR.T FixedReset 2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 21.07
Evaluated at bid price : 21.07
Bid-YTW : 3.85 %
IAG.PR.G FixedReset 2.73 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.70
Bid-YTW : 6.28 %
HSE.PR.A FixedReset 3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 11.35
Evaluated at bid price : 11.35
Bid-YTW : 5.38 %
BAM.PR.G FixedFloater 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 25.00
Evaluated at bid price : 14.86
Bid-YTW : 5.61 %
MFC.PR.F FixedReset 3.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.55
Bid-YTW : 10.18 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.R FixedReset 91,389 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-24
Maturity Price : 25.00
Evaluated at bid price : 26.24
Bid-YTW : 4.59 %
BNS.PR.G FixedReset 84,745 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 26.12
Bid-YTW : 4.66 %
RY.PR.Q FixedReset 72,641 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.50
Bid-YTW : 4.59 %
BNS.PR.L Deemed-Retractible 67,265 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-05-27
Maturity Price : 25.00
Evaluated at bid price : 24.98
Bid-YTW : 3.37 %
MFC.PR.O FixedReset 60,370 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-06-19
Maturity Price : 25.00
Evaluated at bid price : 26.21
Bid-YTW : 4.73 %
SLF.PR.A Deemed-Retractible 58,000 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.67
Bid-YTW : 6.20 %
There were 23 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
GWO.PR.O FloatingReset Quote: 12.25 – 14.25
Spot Rate : 2.0000
Average : 1.2956

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.25
Bid-YTW : 10.94 %
RY.PR.K FloatingReset Quote: 22.12 – 23.50
Spot Rate : 1.3800
Average : 1.1804

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.12
Bid-YTW : 4.68 %
BAM.PR.G FixedFloater Quote: 14.86 – 15.50
Spot Rate : 0.6400
Average : 0.4880

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 25.00
Evaluated at bid price : 14.86
Bid-YTW : 5.61 %
TRP.PR.B FixedReset Quote: 11.86 – 12.39
Spot Rate : 0.5300
Average : 0.3838

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-12
Maturity Price : 11.86
Evaluated at bid price : 11.86
Bid-YTW : 4.28 %
RY.PR.I FixedReset Quote: 23.67 – 24.17
Spot Rate : 0.5000
Average : 0.3557

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.67
Bid-YTW : 4.23 %
BNS.PR.Z FixedReset Quote: 20.65 – 21.00
Spot Rate : 0.3500
Average : 0.2237

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.65
Bid-YTW : 5.61 %
Market Action

April 11, 2016

Not just the bare bones, but a day late to boot!

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 4.69 % 5.70 % 9,815 17.03 1 1.0526 % 1,675.4
FixedFloater 6.60 % 5.80 % 20,250 16.53 1 2.0553 % 3,013.5
Floater 4.55 % 4.67 % 57,359 16.12 4 0.5569 % 1,701.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.0540 % 2,799.7
SplitShare 4.73 % 5.08 % 92,519 1.58 6 0.0540 % 3,276.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0540 % 2,556.2
Perpetual-Premium 5.77 % -14.70 % 92,284 0.09 6 0.2766 % 2,594.6
Perpetual-Discount 5.52 % 5.54 % 92,817 14.59 33 0.3563 % 2,643.1
FixedReset 5.07 % 4.49 % 180,874 14.23 87 0.6287 % 2,007.1
Deemed-Retractible 5.16 % 5.37 % 123,696 5.09 34 0.2540 % 2,644.0
FloatingReset 3.05 % 4.61 % 35,245 5.39 17 0.7151 % 2,083.5
Performance Highlights
Issue Index Change Notes
PWF.PR.Q FloatingReset -4.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.45 %
SLF.PR.J FloatingReset -2.83 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.35
Bid-YTW : 11.00 %
TRP.PR.C FixedReset -2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 12.37
Evaluated at bid price : 12.37
Bid-YTW : 4.55 %
PWF.PR.T FixedReset -2.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 3.95 %
GWO.PR.O FloatingReset -2.04 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.00
Bid-YTW : 11.22 %
MFC.PR.F FixedReset -1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.11
Bid-YTW : 10.63 %
BAM.PF.B FixedReset -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 4.82 %
SLF.PR.D Deemed-Retractible 1.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.16
Bid-YTW : 6.86 %
POW.PR.G Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 24.38
Evaluated at bid price : 24.86
Bid-YTW : 5.64 %
CM.PR.O FixedReset 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 19.63
Evaluated at bid price : 19.63
Bid-YTW : 4.05 %
HSE.PR.E FixedReset 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 19.48
Evaluated at bid price : 19.48
Bid-YTW : 5.60 %
SLF.PR.C Deemed-Retractible 1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.22
Bid-YTW : 6.82 %
BAM.PR.E Ratchet 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 25.00
Evaluated at bid price : 14.40
Bid-YTW : 5.70 %
BNS.PR.F FloatingReset 1.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.01
Bid-YTW : 6.86 %
MFC.PR.B Deemed-Retractible 1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.80
Bid-YTW : 6.68 %
FTS.PR.F Perpetual-Discount 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 22.93
Evaluated at bid price : 23.20
Bid-YTW : 5.34 %
BNS.PR.D FloatingReset 1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.55
Bid-YTW : 6.92 %
CU.PR.C FixedReset 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 18.44
Evaluated at bid price : 18.44
Bid-YTW : 4.33 %
FTS.PR.G FixedReset 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 4.30 %
BNS.PR.A FloatingReset 1.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.47
Bid-YTW : 3.66 %
SLF.PR.E Deemed-Retractible 1.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.21
Bid-YTW : 6.88 %
MFC.PR.M FixedReset 1.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.25
Bid-YTW : 6.37 %
CM.PR.Q FixedReset 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 4.32 %
BAM.PR.R FixedReset 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 4.88 %
MFC.PR.K FixedReset 1.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.27
Bid-YTW : 7.50 %
VNR.PR.A FixedReset 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.97 %
TRP.PR.F FloatingReset 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 4.68 %
TRP.PR.G FixedReset 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 4.49 %
IAG.PR.A Deemed-Retractible 1.48 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.88
Bid-YTW : 6.54 %
BNS.PR.Z FixedReset 1.50 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.02
Bid-YTW : 5.27 %
MFC.PR.N FixedReset 1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.10
Bid-YTW : 6.41 %
HSE.PR.B FloatingReset 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 5.50 %
TD.PR.T FloatingReset 1.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.89
Bid-YTW : 4.50 %
TD.PR.Z FloatingReset 1.62 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.91
Bid-YTW : 4.57 %
BIP.PR.A FixedReset 1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.53 %
HSE.PR.C FixedReset 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 5.62 %
SLF.PR.H FixedReset 2.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.08
Bid-YTW : 8.89 %
BAM.PR.G FixedFloater 2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 25.00
Evaluated at bid price : 14.40
Bid-YTW : 5.80 %
MFC.PR.L FixedReset 2.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.10
Bid-YTW : 6.99 %
CIU.PR.C FixedReset 2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.54 %
FTS.PR.H FixedReset 2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 13.55
Evaluated at bid price : 13.55
Bid-YTW : 4.15 %
TRP.PR.E FixedReset 2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 19.67
Evaluated at bid price : 19.67
Bid-YTW : 4.16 %
BNS.PR.B FloatingReset 2.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.94
Bid-YTW : 4.56 %
BNS.PR.C FloatingReset 2.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.11
Bid-YTW : 4.61 %
GWO.PR.N FixedReset 2.94 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.65
Bid-YTW : 10.03 %
BMO.PR.Q FixedReset 3.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.94
Bid-YTW : 6.29 %
IFC.PR.C FixedReset 3.31 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.70
Bid-YTW : 7.39 %
TRP.PR.A FixedReset 3.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 15.59
Evaluated at bid price : 15.59
Bid-YTW : 4.44 %
FTS.PR.I FloatingReset 4.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 11.52
Evaluated at bid price : 11.52
Bid-YTW : 4.16 %
IFC.PR.A FixedReset 4.63 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.38
Bid-YTW : 9.41 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.G FixedReset 121,477 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.01
Bid-YTW : 4.56 %
PWF.PR.P FixedReset 66,550 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 12.87
Evaluated at bid price : 12.87
Bid-YTW : 4.48 %
RY.PR.J FixedReset 62,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 20.16
Evaluated at bid price : 20.16
Bid-YTW : 4.37 %
TD.PF.C FixedReset 52,793 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 4.04 %
BAM.PF.G FixedReset 42,899 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 4.51 %
MFC.PR.K FixedReset 31,600 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.27
Bid-YTW : 7.50 %
There were 36 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
PWF.PR.T FixedReset Quote: 20.56 – 21.49
Spot Rate : 0.9300
Average : 0.5856

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 3.95 %
BNS.PR.Y FixedReset Quote: 19.92 – 20.85
Spot Rate : 0.9300
Average : 0.6342

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.92
Bid-YTW : 5.97 %
BAM.PF.B FixedReset Quote: 18.15 – 18.69
Spot Rate : 0.5400
Average : 0.3291

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 4.82 %
TRP.PR.C FixedReset Quote: 12.37 – 12.94
Spot Rate : 0.5700
Average : 0.3616

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 12.37
Evaluated at bid price : 12.37
Bid-YTW : 4.55 %
IAG.PR.G FixedReset Quote: 20.15 – 20.80
Spot Rate : 0.6500
Average : 0.4943

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.15
Bid-YTW : 6.65 %
BAM.PR.T FixedReset Quote: 15.55 – 16.05
Spot Rate : 0.5000
Average : 0.3464

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-11
Maturity Price : 15.55
Evaluated at bid price : 15.55
Bid-YTW : 4.99 %
Market Action

April 8, 2016

RioCan REIT, proud issuer of REI.PR.C, has been confirmed at Pfd-3 by DBRS:

DBRS Limited (DBRS) has today confirmed RioCan Real Estate Investment Trust’s (RioCan or the Trust) Senior Unsecured Debentures rating and Senior Unsecured Debentures, Series I rating at BBB (high) and its Preferred Trust Units rating at Pfd-3 (high), all with Stable trends. The confirmation of the ratings consider RioCan’s recently announced U.S. portfolio sale (the Transaction; see DBRS press release dated December 21, 2015) and plan to use proceeds from the Transaction to temporarily reduce debt.
…
Proceeds from the Transaction are expected to mainly pay down debt, which should temporarily improve key financial metrics to levels that are better placed within the BBB (high) rating category.

DBRS, however, expects the Trust will use this additional financial capacity to fund its substantial development pipeline with a higher proportion of debt than equity. As at Q4 2015, RioCan’s active development pipeline totalled approximately $1.6 billion in projected construction costs, including near-term leased projects of approximately $184 million before the end of 2016 (at RioCan’s share). DBRS believes the Trust will primarily use debt financing to fund these developments in the near to medium term, which should bring key financial metrics to lower levels, albeit still commensurate with the BBB (high) rating category.

DBRS believes a positive rating action could occur if RioCan increases the size of its portfolio, reduces its geographic concentration and improves EBITDA interest coverage (including capitalized interest) above 3.0 times (x), bringing the Trust to levels more consistent with the A (low) rating category. A negative rating action could occur if RioCan experiences any development mishaps, lower rents and/or tenant departures causing EBITDA interest coverage to fall below 2.3x on a sustained basis.

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 4.74 % 5.76 % 9,789 16.96 1 1.7857 % 1,658.0
FixedFloater 6.73 % 5.92 % 20,380 16.38 1 0.0000 % 2,952.9
Floater 4.58 % 4.71 % 59,259 16.06 4 -0.6256 % 1,691.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.2509 % 2,798.1
SplitShare 4.73 % 5.08 % 92,421 1.59 6 -0.2509 % 3,274.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2509 % 2,554.8
Perpetual-Premium 5.79 % -12.54 % 91,116 0.09 6 0.1914 % 2,587.5
Perpetual-Discount 5.54 % 5.57 % 93,672 14.57 33 0.0905 % 2,633.7
FixedReset 5.11 % 4.53 % 180,796 14.06 87 0.4192 % 1,994.5
Deemed-Retractible 5.17 % 5.39 % 124,330 5.10 34 0.1228 % 2,637.3
FloatingReset 3.07 % 4.78 % 35,476 5.39 17 1.1894 % 2,068.7
Performance Highlights
Issue Index Change Notes
BAM.PR.X FixedReset -2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 14.58
Evaluated at bid price : 14.58
Bid-YTW : 4.53 %
TRP.PR.E FixedReset -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 4.26 %
TD.PF.D FixedReset -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 20.31
Evaluated at bid price : 20.31
Bid-YTW : 4.34 %
CIU.PR.C FixedReset -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 4.64 %
IFC.PR.C FixedReset -1.31 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.10
Bid-YTW : 7.83 %
IAG.PR.G FixedReset -1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.00
Bid-YTW : 6.75 %
PWF.PR.T FixedReset -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 21.09
Evaluated at bid price : 21.09
Bid-YTW : 3.84 %
BNS.PR.D FloatingReset -1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.35
Bid-YTW : 7.11 %
IFC.PR.A FixedReset -1.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.70
Bid-YTW : 10.05 %
MFC.PR.G FixedReset 1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.60
Bid-YTW : 7.06 %
TD.PR.S FixedReset 1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.20
Bid-YTW : 4.14 %
MFC.PR.I FixedReset 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.22
Bid-YTW : 6.68 %
CCS.PR.C Deemed-Retractible 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.01
Bid-YTW : 6.89 %
TD.PR.T FloatingReset 1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.55
Bid-YTW : 4.78 %
TRP.PR.A FixedReset 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 15.08
Evaluated at bid price : 15.08
Bid-YTW : 4.59 %
BAM.PF.G FixedReset 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 20.82
Evaluated at bid price : 20.82
Bid-YTW : 4.54 %
BNS.PR.R FixedReset 1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.47
Bid-YTW : 4.34 %
BNS.PR.Q FixedReset 1.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.10
Bid-YTW : 4.39 %
MFC.PR.H FixedReset 1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.03
Bid-YTW : 6.36 %
VNR.PR.A FixedReset 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 17.86
Evaluated at bid price : 17.86
Bid-YTW : 5.03 %
MFC.PR.K FixedReset 1.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.03
Bid-YTW : 7.68 %
HSE.PR.G FixedReset 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 5.63 %
BNS.PR.F FloatingReset 1.62 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.81
Bid-YTW : 7.04 %
GWO.PR.O FloatingReset 1.66 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.25
Bid-YTW : 10.93 %
FTS.PR.K FixedReset 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 4.25 %
BAM.PR.E Ratchet 1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 25.00
Evaluated at bid price : 14.25
Bid-YTW : 5.76 %
SLF.PR.J FloatingReset 2.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.71
Bid-YTW : 10.60 %
TRP.PR.F FloatingReset 2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 12.58
Evaluated at bid price : 12.58
Bid-YTW : 4.74 %
TRP.PR.C FixedReset 2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 12.70
Evaluated at bid price : 12.70
Bid-YTW : 4.43 %
HSE.PR.B FloatingReset 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 9.85
Evaluated at bid price : 9.85
Bid-YTW : 5.58 %
TD.PF.A FixedReset 2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 4.05 %
BAM.PR.Z FixedReset 2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 4.84 %
FTS.PR.G FixedReset 2.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 4.35 %
TRP.PR.H FloatingReset 3.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 10.25
Evaluated at bid price : 10.25
Bid-YTW : 4.25 %
FTS.PR.M FixedReset 4.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 19.43
Evaluated at bid price : 19.43
Bid-YTW : 4.37 %
HSE.PR.C FixedReset 5.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 5.73 %
PWF.PR.Q FloatingReset 5.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 4.23 %
TRP.PR.I FloatingReset 7.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 11.35
Evaluated at bid price : 11.35
Bid-YTW : 4.38 %
MFC.PR.L FixedReset 8.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.70
Bid-YTW : 7.28 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.G FixedReset 45,435 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.05
Bid-YTW : 4.52 %
RY.PR.Q FixedReset 43,399 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.52
Bid-YTW : 4.56 %
RY.PR.H FixedReset 33,731 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 19.48
Evaluated at bid price : 19.48
Bid-YTW : 4.06 %
VNR.PR.A FixedReset 30,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 17.86
Evaluated at bid price : 17.86
Bid-YTW : 5.03 %
BAM.PF.H FixedReset 28,033 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.97
Bid-YTW : 4.14 %
FTS.PR.M FixedReset 23,638 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 19.43
Evaluated at bid price : 19.43
Bid-YTW : 4.37 %
There were 18 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.Q FixedReset Quote: 19.36 – 19.99
Spot Rate : 0.6300
Average : 0.3991

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.36
Bid-YTW : 6.84 %
SLF.PR.H FixedReset Quote: 15.76 – 16.34
Spot Rate : 0.5800
Average : 0.3845

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.76
Bid-YTW : 9.16 %
VNR.PR.A FixedReset Quote: 17.86 – 18.44
Spot Rate : 0.5800
Average : 0.3887

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 17.86
Evaluated at bid price : 17.86
Bid-YTW : 5.03 %
CIU.PR.C FixedReset Quote: 11.25 – 12.24
Spot Rate : 0.9900
Average : 0.8246

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-08
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 4.64 %
GWO.PR.F Deemed-Retractible Quote: 25.41 – 25.75
Spot Rate : 0.3400
Average : 0.2058

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-05-08
Maturity Price : 25.00
Evaluated at bid price : 25.41
Bid-YTW : -12.17 %
BNS.PR.Y FixedReset Quote: 20.06 – 20.49
Spot Rate : 0.4300
Average : 0.3098

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.06
Bid-YTW : 5.83 %
Market Action

April 7, 2016

Just the bare bones again … but today’s results have them partying!

dancingBareBones
Click for Big
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 4.83 % 5.87 % 9,916 16.84 1 3.7037 % 1,628.9
FixedFloater 6.73 % 5.92 % 21,190 16.38 1 0.7857 % 2,952.9
Floater 4.55 % 4.68 % 59,682 16.12 4 0.7515 % 1,702.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.0761 % 2,805.2
SplitShare 4.72 % 5.05 % 89,326 1.59 6 0.0761 % 3,282.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0761 % 2,561.2
Perpetual-Premium 5.80 % -10.00 % 90,912 0.08 6 0.0594 % 2,582.5
Perpetual-Discount 5.55 % 5.58 % 95,016 14.57 33 0.4800 % 2,631.3
FixedReset 5.13 % 4.56 % 182,421 13.58 87 2.0877 % 1,986.2
Deemed-Retractible 5.18 % 5.32 % 123,544 5.10 34 0.4161 % 2,634.1
FloatingReset 3.09 % 4.89 % 36,244 5.40 17 1.3028 % 2,044.4
Performance Highlights
Issue Index Change Notes
MFC.PR.L FixedReset -3.63 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.25
Bid-YTW : 8.41 %
PWF.PR.A Floater -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 4.27 %
TRP.PR.I FloatingReset -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 4.67 %
BNS.PR.Q FixedReset 1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.80
Bid-YTW : 4.63 %
SLF.PR.A Deemed-Retractible 1.04 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.41
Bid-YTW : 6.35 %
BAM.PF.C Perpetual-Discount 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 5.91 %
TD.PF.A FixedReset 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 4.15 %
RY.PR.K FloatingReset 1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.25
Bid-YTW : 4.54 %
BNS.PR.B FloatingReset 1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.31
Bid-YTW : 5.09 %
VNR.PR.A FixedReset 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 5.09 %
BNS.PR.A FloatingReset 1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.05
Bid-YTW : 3.99 %
TD.PR.Y FixedReset 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.65
Bid-YTW : 3.95 %
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 : 21.59
Bid-YTW : 6.81 %
RY.PR.J FixedReset 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 4.36 %
CU.PR.F Perpetual-Discount 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.48 %
BAM.PR.R FixedReset 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 15.39
Evaluated at bid price : 15.39
Bid-YTW : 4.89 %
BAM.PR.B Floater 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 10.12
Evaluated at bid price : 10.12
Bid-YTW : 4.70 %
SLF.PR.B Deemed-Retractible 1.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.55
Bid-YTW : 6.31 %
CU.PR.E Perpetual-Discount 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 22.17
Evaluated at bid price : 22.46
Bid-YTW : 5.51 %
CU.PR.G Perpetual-Discount 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.78
Evaluated at bid price : 20.78
Bid-YTW : 5.49 %
NA.PR.S FixedReset 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 4.29 %
CU.PR.D Perpetual-Discount 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 22.23
Evaluated at bid price : 22.54
Bid-YTW : 5.49 %
MFC.PR.H FixedReset 1.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.75
Bid-YTW : 6.54 %
CIU.PR.C FixedReset 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 4.55 %
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 : 20.96
Bid-YTW : 7.04 %
BNS.PR.R FixedReset 1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.17
Bid-YTW : 4.58 %
SLF.PR.C Deemed-Retractible 1.46 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.90
Bid-YTW : 7.03 %
SLF.PR.D Deemed-Retractible 1.46 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.85
Bid-YTW : 7.06 %
FTS.PR.H FixedReset 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 13.31
Evaluated at bid price : 13.31
Bid-YTW : 4.21 %
HSE.PR.G FixedReset 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.71 %
SLF.PR.J FloatingReset 1.63 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.45
Bid-YTW : 10.86 %
BMO.PR.Y FixedReset 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 4.20 %
BIP.PR.A FixedReset 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.60 %
BAM.PR.C Floater 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 10.07
Evaluated at bid price : 10.07
Bid-YTW : 4.72 %
TD.PF.D FixedReset 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 4.25 %
IFC.PR.A FixedReset 2.06 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.85
Bid-YTW : 9.89 %
TRP.PR.H FloatingReset 2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 4.37 %
FTS.PR.G FixedReset 2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 4.47 %
RY.PR.M FixedReset 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.82
Evaluated at bid price : 19.82
Bid-YTW : 4.32 %
SLF.PR.H FixedReset 2.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.85
Bid-YTW : 9.07 %
BAM.PR.K Floater 2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 10.17
Evaluated at bid price : 10.17
Bid-YTW : 4.68 %
SLF.PR.G FixedReset 2.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.65
Bid-YTW : 10.14 %
MFC.PR.G FixedReset 2.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.40
Bid-YTW : 7.19 %
RY.PR.I FixedReset 2.37 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.72
Bid-YTW : 4.18 %
SLF.PR.I FixedReset 2.41 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.70
Bid-YTW : 7.48 %
BAM.PF.A FixedReset 2.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.49
Evaluated at bid price : 19.49
Bid-YTW : 4.79 %
BNS.PR.Y FixedReset 2.43 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.25
Bid-YTW : 5.65 %
BMO.PR.M FixedReset 2.44 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.55
Bid-YTW : 4.00 %
GWO.PR.O FloatingReset 2.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.05
Bid-YTW : 11.13 %
BNS.PR.P FixedReset 2.63 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.21
Bid-YTW : 3.52 %
PWF.PR.S Perpetual-Discount 2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 21.83
Evaluated at bid price : 22.19
Bid-YTW : 5.40 %
NA.PR.W FixedReset 2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 18.19
Evaluated at bid price : 18.19
Bid-YTW : 4.29 %
BAM.PF.G FixedReset 2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 4.59 %
MFC.PR.I FixedReset 2.83 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.00
Bid-YTW : 6.83 %
RY.PR.Z FixedReset 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 4.03 %
MFC.PR.K FixedReset 3.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.75
Bid-YTW : 7.89 %
BAM.PF.E FixedReset 3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.06
Evaluated at bid price : 19.06
Bid-YTW : 4.60 %
BAM.PF.B FixedReset 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 18.29
Evaluated at bid price : 18.29
Bid-YTW : 4.76 %
BAM.PR.X FixedReset 3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 14.93
Evaluated at bid price : 14.93
Bid-YTW : 4.41 %
HSE.PR.E FixedReset 3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.70 %
BAM.PF.F FixedReset 3.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.32
Evaluated at bid price : 20.32
Bid-YTW : 4.62 %
CU.PR.C FixedReset 3.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 18.21
Evaluated at bid price : 18.21
Bid-YTW : 4.37 %
RY.PR.H FixedReset 3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.39
Evaluated at bid price : 19.39
Bid-YTW : 4.07 %
CM.PR.P FixedReset 3.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 4.07 %
CM.PR.O FixedReset 3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 4.06 %
TD.PF.C FixedReset 3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 4.04 %
BNS.PR.F FloatingReset 3.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.51
Bid-YTW : 7.33 %
TD.PF.B FixedReset 3.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.23
Evaluated at bid price : 19.23
Bid-YTW : 4.05 %
FTS.PR.K FixedReset 3.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 4.31 %
BNS.PR.D FloatingReset 3.69 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.56
Bid-YTW : 6.88 %
BAM.PR.E Ratchet 3.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 25.00
Evaluated at bid price : 14.00
Bid-YTW : 5.87 %
MFC.PR.J FixedReset 3.79 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.42
Bid-YTW : 6.97 %
BNS.PR.Z FixedReset 3.87 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.67
Bid-YTW : 5.57 %
IFC.PR.C FixedReset 3.91 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.34
Bid-YTW : 7.63 %
IAG.PR.G FixedReset 4.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.25
Bid-YTW : 6.57 %
MFC.PR.N FixedReset 4.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.80
Bid-YTW : 6.60 %
BMO.PR.S FixedReset 4.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 4.06 %
BMO.PR.W FixedReset 4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 4.08 %
BMO.PR.T FixedReset 4.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 4.06 %
MFC.PR.M FixedReset 4.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.95
Bid-YTW : 6.56 %
FTS.PR.I FloatingReset 4.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 11.08
Evaluated at bid price : 11.08
Bid-YTW : 4.31 %
TRP.PR.C FixedReset 4.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 12.38
Evaluated at bid price : 12.38
Bid-YTW : 4.53 %
TRP.PR.B FixedReset 6.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 4.21 %
PWF.PR.T FixedReset 6.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 21.34
Evaluated at bid price : 21.34
Bid-YTW : 3.79 %
TRP.PR.D FixedReset 7.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 18.58
Evaluated at bid price : 18.58
Bid-YTW : 4.33 %
TRP.PR.G FixedReset 7.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 4.56 %
TRP.PR.E FixedReset 7.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 4.17 %
HSE.PR.A FixedReset 8.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 10.88
Evaluated at bid price : 10.88
Bid-YTW : 5.60 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BAM.PF.H FixedReset 153,518 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.73
Bid-YTW : 4.36 %
RY.PR.Z FixedReset 94,935 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 4.03 %
RY.PR.Q FixedReset 85,420 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.52
Bid-YTW : 4.56 %
RY.PR.H FixedReset 76,771 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.39
Evaluated at bid price : 19.39
Bid-YTW : 4.07 %
RY.PR.J FixedReset 71,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 4.36 %
TD.PF.C FixedReset 70,871 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 4.04 %
There were 74 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: 11.45 – 18.00
Spot Rate : 6.5500
Average : 4.1970

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 11.45
Evaluated at bid price : 11.45
Bid-YTW : 4.45 %
TD.PR.T FloatingReset Quote: 21.30 – 25.24
Spot Rate : 3.9400
Average : 2.2062

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.30
Bid-YTW : 4.99 %
MFC.PR.L FixedReset Quote: 17.25 – 19.16
Spot Rate : 1.9100
Average : 1.1784

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.25
Bid-YTW : 8.41 %
FTS.PR.M FixedReset Quote: 18.55 – 19.85
Spot Rate : 1.3000
Average : 0.7553

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 4.57 %
RY.PR.K FloatingReset Quote: 22.25 – 24.00
Spot Rate : 1.7500
Average : 1.2890

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.25
Bid-YTW : 4.54 %
HSE.PR.C FixedReset Quote: 16.58 – 17.77
Spot Rate : 1.1900
Average : 0.7364

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-07
Maturity Price : 16.58
Evaluated at bid price : 16.58
Bid-YTW : 6.04 %
Market Action

April 6, 2016

Just the bare bones again! Hopefully I’ll have caught up with all my overdue things in the near future!

PerpetualDiscounts now have a yield of 5.58%, equivalent to 7.25% interest at the standard equivalency factor of 1.3x. Long corporates now yield about 4.05%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 320bp, unchanged from the March 30 figure.

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 5.01 % 6.09 % 10,310 16.57 1 0.7463 % 1,570.7
FixedFloater 6.79 % 5.97 % 21,895 16.33 1 0.0000 % 2,929.8
Floater 4.58 % 4.76 % 60,412 15.98 4 0.4383 % 1,689.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0068 % 2,803.0
SplitShare 4.73 % 5.06 % 88,979 1.60 6 -0.0068 % 3,280.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0068 % 2,559.3
Perpetual-Premium 5.80 % -9.27 % 92,281 0.08 6 0.4702 % 2,581.0
Perpetual-Discount 5.57 % 5.58 % 95,674 14.49 33 0.1455 % 2,618.8
FixedReset 5.23 % 4.65 % 181,452 14.01 87 0.5733 % 1,945.6
Deemed-Retractible 5.20 % 5.44 % 123,630 5.10 34 -0.0374 % 2,623.2
FloatingReset 3.13 % 5.02 % 35,896 5.40 17 -0.0658 % 2,018.1
Performance Highlights
Issue Index Change Notes
GWO.PR.O FloatingReset -2.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 11.75
Bid-YTW : 11.47 %
BIP.PR.A FixedReset -1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 19.08
Evaluated at bid price : 19.08
Bid-YTW : 5.70 %
HSE.PR.A FixedReset -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 10.06
Evaluated at bid price : 10.06
Bid-YTW : 6.05 %
PWF.PR.Q FloatingReset -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 11.35
Evaluated at bid price : 11.35
Bid-YTW : 4.49 %
PVS.PR.D SplitShare -1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2021-10-08
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 5.90 %
BAM.PR.Z FixedReset 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.89
Evaluated at bid price : 18.89
Bid-YTW : 5.01 %
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 : 19.45
Bid-YTW : 7.22 %
RY.PR.H FixedReset 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 4.21 %
TD.PF.C FixedReset 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 4.18 %
TD.PF.A FixedReset 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 4.20 %
FTS.PR.M FixedReset 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.52
Evaluated at bid price : 18.52
Bid-YTW : 4.58 %
IFC.PR.C FixedReset 1.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.65
Bid-YTW : 8.17 %
PWF.PR.A Floater 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 4.19 %
CIU.PR.C FixedReset 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 4.62 %
NA.PR.W FixedReset 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 17.94
Evaluated at bid price : 17.94
Bid-YTW : 4.44 %
BMO.PR.T FixedReset 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 4.25 %
BAM.PF.F FixedReset 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 19.67
Evaluated at bid price : 19.67
Bid-YTW : 4.77 %
BAM.PR.R FixedReset 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 15.21
Evaluated at bid price : 15.21
Bid-YTW : 4.95 %
BAM.PR.X FixedReset 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 14.47
Evaluated at bid price : 14.47
Bid-YTW : 4.55 %
TRP.PR.B FixedReset 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 11.27
Evaluated at bid price : 11.27
Bid-YTW : 4.49 %
BAM.PF.E FixedReset 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 4.75 %
NA.PR.S FixedReset 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.91
Evaluated at bid price : 18.91
Bid-YTW : 4.37 %
TD.PF.E FixedReset 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 4.34 %
FTS.PR.K FixedReset 2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 16.59
Evaluated at bid price : 16.59
Bid-YTW : 4.48 %
MFC.PR.G FixedReset 2.38 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.96
Bid-YTW : 7.52 %
HSE.PR.G FixedReset 2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 5.81 %
TRP.PR.C FixedReset 2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 4.75 %
FTS.PR.H FixedReset 3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 13.10
Evaluated at bid price : 13.10
Bid-YTW : 4.28 %
TD.PF.D FixedReset 3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 4.33 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.X FixedReset 132,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-15
Maturity Price : 25.00
Evaluated at bid price : 26.45
Bid-YTW : 4.59 %
CU.PR.G Perpetual-Discount 123,485 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 5.56 %
MFC.PR.O FixedReset 112,070 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-06-19
Maturity Price : 25.00
Evaluated at bid price : 26.17
Bid-YTW : 4.75 %
FTS.PR.M FixedReset 83,673 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.52
Evaluated at bid price : 18.52
Bid-YTW : 4.58 %
CM.PR.P FixedReset 68,887 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 4.22 %
SLF.PR.G FixedReset 60,920 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.35
Bid-YTW : 10.45 %
There were 28 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.L FixedReset Quote: 17.90 – 18.49
Spot Rate : 0.5900
Average : 0.3762

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.90
Bid-YTW : 7.88 %
BMO.PR.T FixedReset Quote: 18.50 – 19.00
Spot Rate : 0.5000
Average : 0.3644

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 4.25 %
TD.PF.B FixedReset Quote: 18.55 – 18.95
Spot Rate : 0.4000
Average : 0.2682

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 4.20 %
HSE.PR.A FixedReset Quote: 10.06 – 10.50
Spot Rate : 0.4400
Average : 0.3113

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 10.06
Evaluated at bid price : 10.06
Bid-YTW : 6.05 %
TD.PF.A FixedReset Quote: 18.60 – 18.95
Spot Rate : 0.3500
Average : 0.2371

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 4.20 %
TRP.PR.D FixedReset Quote: 17.35 – 17.61
Spot Rate : 0.2600
Average : 0.1590

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-06
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 4.65 %
Market Action

April 5, 2016

Just bare bones again, I’m afraid!

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 5.05 % 6.13 % 10,731 16.52 1 -0.8876 % 1,559.1
FixedFloater 6.79 % 5.97 % 22,151 16.33 1 -0.0714 % 2,929.8
Floater 4.60 % 4.76 % 60,824 15.97 4 -0.8450 % 1,682.1
OpRet 0.00 % 0.00 % 0 0.00 0 0.0000 % 2,803.2
SplitShare 4.73 % 5.28 % 90,368 1.60 6 0.0000 % 3,280.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0000 % 2,559.4
Perpetual-Premium 5.77 % -2.44 % 86,435 0.08 6 -0.0263 % 2,568.9
Perpetual-Discount 5.56 % 5.61 % 96,991 14.42 33 -0.0627 % 2,615.0
FixedReset 5.25 % 4.66 % 183,586 13.81 87 -0.0299 % 1,934.5
Deemed-Retractible 5.20 % 5.29 % 123,752 5.11 34 -0.1492 % 2,624.2
FloatingReset 3.13 % 5.00 % 36,295 5.39 17 -0.0905 % 2,019.5
Performance Highlights
Issue Index Change Notes
HSE.PR.B FloatingReset -3.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 9.50
Evaluated at bid price : 9.50
Bid-YTW : 5.76 %
TRP.PR.B FixedReset -2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 11.10
Evaluated at bid price : 11.10
Bid-YTW : 4.56 %
GWO.PR.N FixedReset -2.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.17
Bid-YTW : 10.49 %
TD.PF.D FixedReset -2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 19.84
Evaluated at bid price : 19.84
Bid-YTW : 4.50 %
TRP.PR.C FixedReset -1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 11.47
Evaluated at bid price : 11.47
Bid-YTW : 4.89 %
FTS.PR.H FixedReset -1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 12.70
Evaluated at bid price : 12.70
Bid-YTW : 4.42 %
BAM.PR.K Floater -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 9.93
Evaluated at bid price : 9.93
Bid-YTW : 4.79 %
HSE.PR.G FixedReset -1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 5.97 %
IFC.PR.A FixedReset -1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.42
Bid-YTW : 10.30 %
BMO.PR.Y FixedReset -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 4.28 %
MFC.PR.G FixedReset -1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.52
Bid-YTW : 7.85 %
RY.PR.K FloatingReset -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 4.75 %
BMO.PR.M FixedReset -1.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.05
Bid-YTW : 4.41 %
BAM.PR.C Floater -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 9.90
Evaluated at bid price : 9.90
Bid-YTW : 4.80 %
MFC.PR.L FixedReset 1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.78
Bid-YTW : 7.98 %
TD.PR.S FixedReset 1.13 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.27
Bid-YTW : 4.24 %
TRP.PR.A FixedReset 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 14.76
Evaluated at bid price : 14.76
Bid-YTW : 4.67 %
BNS.PR.Z FixedReset 1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.75
Bid-YTW : 6.42 %
FTS.PR.F Perpetual-Discount 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 22.60
Evaluated at bid price : 22.85
Bid-YTW : 5.42 %
TRP.PR.F FloatingReset 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 12.32
Evaluated at bid price : 12.32
Bid-YTW : 4.82 %
PWF.PR.Q FloatingReset 1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.43 %
BNS.PR.Y FixedReset 2.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.65
Bid-YTW : 6.20 %
MFC.PR.K FixedReset 2.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.40
Bid-YTW : 8.16 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.G FixedReset 218,289 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.33
Bid-YTW : 4.62 %
BNS.PR.G FixedReset 214,613 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 26.18
Bid-YTW : 4.59 %
RY.PR.H FixedReset 52,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 18.54
Evaluated at bid price : 18.54
Bid-YTW : 4.26 %
RY.PR.Q FixedReset 36,355 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.33
Bid-YTW : 4.72 %
BMO.PR.Q FixedReset 30,664 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.30
Bid-YTW : 6.88 %
MFC.PR.O FixedReset 24,327 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-06-19
Maturity Price : 25.00
Evaluated at bid price : 26.20
Bid-YTW : 4.72 %
There were 22 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 – 15.00
Spot Rate : 3.5000
Average : 2.2937

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.43 %
GWO.PR.O FloatingReset Quote: 12.02 – 13.50
Spot Rate : 1.4800
Average : 1.0756

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 12.02
Bid-YTW : 11.16 %
BAM.PR.E Ratchet Quote: 13.40 – 14.40
Spot Rate : 1.0000
Average : 0.7945

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 25.00
Evaluated at bid price : 13.40
Bid-YTW : 6.13 %
BNS.PR.A FloatingReset Quote: 22.82 – 23.44
Spot Rate : 0.6200
Average : 0.4438

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.82
Bid-YTW : 4.17 %
TD.PF.D FixedReset Quote: 19.84 – 20.40
Spot Rate : 0.5600
Average : 0.3848

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-05
Maturity Price : 19.84
Evaluated at bid price : 19.84
Bid-YTW : 4.50 %
RY.PR.K FloatingReset Quote: 22.00 – 22.85
Spot Rate : 0.8500
Average : 0.6999

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.00
Bid-YTW : 4.75 %
Market Action

April 4, 2016

We have a new investment proverb, courtesy of Steve Sosnick, an equity risk manager at Timber Hill, the market-making unit of Greenwich, Connecticut-based Interactive Brokers Group Inc., as reported by Bloomberg’s Joe Ciolli:

“Consensus trades like this, especially when they’re contrarian, often don’t pan out.”

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 5.00 % 6.08 % 10,893 16.59 1 1.4254 % 1,573.1
FixedFloater 6.78 % 5.96 % 23,034 16.34 1 0.0714 % 2,931.9
Floater 4.56 % 4.71 % 59,270 16.07 4 0.4608 % 1,696.4
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0615 % 2,803.2
SplitShare 4.73 % 5.11 % 91,141 1.60 6 -0.0615 % 3,280.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0615 % 2,559.4
Perpetual-Premium 5.77 % -6.83 % 87,817 0.08 6 0.1315 % 2,569.6
Perpetual-Discount 5.56 % 5.60 % 95,172 14.47 33 0.3561 % 2,616.6
FixedReset 5.25 % 4.65 % 184,178 13.97 87 0.6553 % 1,935.1
Deemed-Retractible 5.19 % 5.22 % 125,011 5.11 34 0.2156 % 2,628.1
FloatingReset 3.13 % 4.99 % 37,268 5.39 17 0.8505 % 2,021.3
Performance Highlights
Issue Index Change Notes
BAM.PR.Z FixedReset -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 5.05 %
TRP.PR.F FloatingReset -2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 12.15
Evaluated at bid price : 12.15
Bid-YTW : 4.89 %
BAM.PF.B FixedReset -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 17.78
Evaluated at bid price : 17.78
Bid-YTW : 4.90 %
HSE.PR.A FixedReset -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 10.11
Evaluated at bid price : 10.11
Bid-YTW : 6.02 %
RY.PR.N Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 23.48
Evaluated at bid price : 23.80
Bid-YTW : 5.20 %
BAM.PF.C Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 5.93 %
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 : 17.04
Bid-YTW : 8.46 %
CM.PR.O FixedReset 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 4.22 %
BNS.PR.D FloatingReset 1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.81
Bid-YTW : 7.64 %
TD.PF.D FixedReset 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 20.26
Evaluated at bid price : 20.26
Bid-YTW : 4.40 %
SLF.PR.H FixedReset 1.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.68
Bid-YTW : 9.21 %
BAM.PR.K Floater 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 10.10
Evaluated at bid price : 10.10
Bid-YTW : 4.71 %
PWF.PR.P FixedReset 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 4.50 %
MFC.PR.G FixedReset 1.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.74
Bid-YTW : 7.68 %
BIP.PR.A FixedReset 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.61 %
TRP.PR.G FixedReset 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 4.98 %
GWO.PR.N FixedReset 1.35 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.48
Bid-YTW : 10.17 %
BAM.PR.E Ratchet 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 25.00
Evaluated at bid price : 13.52
Bid-YTW : 6.08 %
MFC.PR.M FixedReset 1.44 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.02
Bid-YTW : 7.22 %
FTS.PR.H FixedReset 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 12.92
Evaluated at bid price : 12.92
Bid-YTW : 4.34 %
BMO.PR.Q FixedReset 1.59 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.15
Bid-YTW : 7.02 %
BAM.PR.R FixedReset 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 15.05
Evaluated at bid price : 15.05
Bid-YTW : 5.00 %
TRP.PR.C FixedReset 1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 11.70
Evaluated at bid price : 11.70
Bid-YTW : 4.79 %
TD.PR.Y FixedReset 1.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.66
Bid-YTW : 4.11 %
FTS.PR.G FixedReset 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 16.34
Evaluated at bid price : 16.34
Bid-YTW : 4.58 %
RY.PR.J FixedReset 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 4.40 %
PWF.PR.Q FloatingReset 2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 4.51 %
NA.PR.W FixedReset 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 17.66
Evaluated at bid price : 17.66
Bid-YTW : 4.51 %
MFC.PR.H FixedReset 2.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.55
Bid-YTW : 6.67 %
MFC.PR.N FixedReset 2.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.17 %
IAG.PR.G FixedReset 2.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.40
Bid-YTW : 7.16 %
BNS.PR.Z FixedReset 2.15 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.51
Bid-YTW : 6.65 %
MFC.PR.I FixedReset 2.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.24
Bid-YTW : 7.37 %
CM.PR.Q FixedReset 2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 4.39 %
MFC.PR.J FixedReset 2.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.63
Bid-YTW : 7.54 %
TRP.PR.H FloatingReset 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 9.67
Evaluated at bid price : 9.67
Bid-YTW : 4.47 %
HSE.PR.G FixedReset 2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 5.87 %
TRP.PR.B FixedReset 2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 11.40
Evaluated at bid price : 11.40
Bid-YTW : 4.43 %
HSE.PR.C FixedReset 3.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.03 %
TRP.PR.I FloatingReset 4.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 10.70
Evaluated at bid price : 10.70
Bid-YTW : 4.62 %
HSE.PR.B FloatingReset 5.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 9.80
Evaluated at bid price : 9.80
Bid-YTW : 5.58 %
Volume Highlights
Issue Index Shares
Traded		 Notes
HSE.PR.A FixedReset 119,495 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 10.11
Evaluated at bid price : 10.11
Bid-YTW : 6.02 %
CU.PR.F Perpetual-Discount 92,528 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 20.47
Evaluated at bid price : 20.47
Bid-YTW : 5.57 %
CU.PR.D Perpetual-Discount 90,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 21.92
Evaluated at bid price : 22.27
Bid-YTW : 5.55 %
BAM.PR.N Perpetual-Discount 48,260 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 5.87 %
BNS.PR.B FloatingReset 34,817 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.01
Bid-YTW : 5.35 %
RY.PR.R FixedReset 33,100 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-24
Maturity Price : 25.00
Evaluated at bid price : 26.08
Bid-YTW : 4.70 %
There were 20 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
RY.PR.K FloatingReset Quote: 22.25 – 23.10
Spot Rate : 0.8500
Average : 0.5353

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.25
Bid-YTW : 4.54 %
BAM.PR.E Ratchet Quote: 13.52 – 14.40
Spot Rate : 0.8800
Average : 0.5691

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 25.00
Evaluated at bid price : 13.52
Bid-YTW : 6.08 %
ALB.PR.C SplitShare Quote: 26.00 – 26.94
Spot Rate : 0.9400
Average : 0.6606

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2017-02-28
Maturity Price : 25.67
Evaluated at bid price : 26.00
Bid-YTW : 3.80 %
BNS.PR.D FloatingReset Quote: 17.81 – 18.46
Spot Rate : 0.6500
Average : 0.4896

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.81
Bid-YTW : 7.64 %
BAM.PR.Z FixedReset Quote: 18.71 – 19.19
Spot Rate : 0.4800
Average : 0.3292

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 5.05 %
CIU.PR.C FixedReset Quote: 11.02 – 11.98
Spot Rate : 0.9600
Average : 0.8438

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-04
Maturity Price : 11.02
Evaluated at bid price : 11.02
Bid-YTW : 4.71 %
Market Action

April 1, 2016

Jobs, jobs, jobs!

Employment in the U.S. climbed and wages picked up in March, signs of labor-market durability in the face of lethargic global growth.

The 215,000 gain in payrolls followed a revised 245,000 February advance, a Labor Department report showed Friday. Average hourly earnings increased 0.3 percent from a month earlier, while the jobless rate crept up to 5 percent as more people entered the labor force.
…
The labor force participation rate, which indicates the share of working-age people who are employed or looking for work, rose to 63 percent, the highest since March 2014.

Wage growth rebounded from a month earlier with average hourly earnings rising more than economists forecast after a 0.1 percent drop. The year-over-year increase was 2.3 percent.

I interrupt this financial services blog for a public service announcement.

You learn something new every day.

I had to get a prescription filled – just a tiny one, so tiny that they don’t make the proper pills for it, you have to take half a tablet every day.

The pharmacist gave me the pill bottle and said I had to cut the tablets in half.

As it turns out, that’s his damn job … not by law or regulation but, even better, by competition. But telling him that just got me a little back-talk and a lot of attitude.

If any of my buddies has been tasked by his pharmacist to do his own tablet-splitting: don’t. Go to a new pharmacist and ask if they’ll split the tablets for you when filling such a prescription and do it for free.

I have just found a new pharmacist and transferred over my prescriptions – which, it turns out, is ridiculously easy to do; totally standard and the new pharmacist does all the work. All you have to do, literally, is tell your new pharmacist to transfer the prescriptions over from the old one.

So anyway – there is rarely any genuine need to split your own tablets. But if you are unfortunate enough to do business with a shitty pharmacy, such as the Rexall at St. Clair and Yonge, you will simply be presented with your pills and instructed to cut them in half yourself. A shitty pharmacy, such as the Rexall at St. Clair and Yonge, will not offer to do it and will attempt to give the impression that it is routine for customers to do it themselves. A shitty pharmacy, such as the Rexall at St. Clair and Yonge, will give you attitude when you tell them to do it. I strongly suggest that nobody with a choice patronize a shitty pharmacy, such as the Rexall at St. Clair and Yonge.

For some drugs, there is an actual valid reason not to split tablets in advance – these drugs are air sensitive. For others, tablets should not be split at all – for instance, if they are coated for timed release. But most drugs supplied in 90-day lots can be split in advance without any problems at all. There’s plenty of choice of pharmacist! You don’t have to put up with laziness.

As for the market report, I regret to say it’s just bare bones again.

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 5.07 % 6.16 % 11,056 16.49 1 -0.8922 % 1,550.9
FixedFloater 6.79 % 5.97 % 22,988 16.34 1 -0.3559 % 2,929.8
Floater 4.58 % 4.71 % 59,844 16.02 4 0.0728 % 1,688.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.2301 % 2,805.0
SplitShare 4.72 % 4.96 % 91,421 1.61 6 0.2301 % 3,282.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2301 % 2,561.0
Perpetual-Premium 5.78 % -4.14 % 88,520 0.08 6 0.0724 % 2,566.2
Perpetual-Discount 5.58 % 5.60 % 92,975 14.44 33 0.2644 % 2,607.3
FixedReset 5.29 % 4.74 % 179,975 13.26 87 0.1174 % 1,922.5
Deemed-Retractible 5.20 % 5.56 % 126,953 5.12 34 0.0573 % 2,622.4
FloatingReset 3.15 % 5.12 % 36,653 5.40 17 -0.0877 % 2,004.2
Performance Highlights
Issue Index Change Notes
HSE.PR.C FixedReset -3.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 16.01
Evaluated at bid price : 16.01
Bid-YTW : 6.27 %
IAG.PR.G FixedReset -1.71 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.46 %
BMO.PR.M FixedReset -1.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.10
Bid-YTW : 4.36 %
TRP.PR.A FixedReset -1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 14.59
Evaluated at bid price : 14.59
Bid-YTW : 4.74 %
SLF.PR.H FixedReset -1.46 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.50
Bid-YTW : 9.37 %
FTS.PR.I FloatingReset -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 4.50 %
BAM.PF.E FixedReset -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.87 %
BMO.PR.R FloatingReset -1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.77
Bid-YTW : 4.64 %
TD.PR.Y FixedReset -1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.27
Bid-YTW : 4.43 %
W.PR.H Perpetual-Discount 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 22.91
Evaluated at bid price : 23.18
Bid-YTW : 5.94 %
MFC.PR.F FixedReset 1.30 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.20
Bid-YTW : 10.49 %
PWF.PR.P FixedReset 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 12.74
Evaluated at bid price : 12.74
Bid-YTW : 4.59 %
PWF.PR.T FixedReset 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 4.11 %
BAM.PR.X FixedReset 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 14.20
Evaluated at bid price : 14.20
Bid-YTW : 4.66 %
MFC.PR.L FixedReset 1.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.55
Bid-YTW : 8.16 %
BAM.PF.B FixedReset 2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 4.84 %
HSE.PR.B FloatingReset 5.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 9.25
Evaluated at bid price : 9.25
Bid-YTW : 5.91 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.R FixedReset 276,306 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-08-24
Maturity Price : 25.00
Evaluated at bid price : 26.04
Bid-YTW : 4.73 %
RY.PR.Q FixedReset 156,903 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.15
Bid-YTW : 4.86 %
TD.PF.G FixedReset 94,505 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.10
Bid-YTW : 4.81 %
BNS.PR.G FixedReset 87,179 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-07-25
Maturity Price : 25.00
Evaluated at bid price : 26.01
Bid-YTW : 4.72 %
TD.PF.C FixedReset 57,502 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 4.28 %
BNS.PR.Z FixedReset 52,770 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.10
Bid-YTW : 7.05 %
There were 19 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CIU.PR.C FixedReset Quote: 11.00 – 11.98
Spot Rate : 0.9800
Average : 0.7164

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 4.74 %
HSE.PR.C FixedReset Quote: 16.01 – 16.80
Spot Rate : 0.7900
Average : 0.5645

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 16.01
Evaluated at bid price : 16.01
Bid-YTW : 6.27 %
TRP.PR.I FloatingReset Quote: 10.20 – 11.75
Spot Rate : 1.5500
Average : 1.3597

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 10.20
Evaluated at bid price : 10.20
Bid-YTW : 4.85 %
BNS.PR.A FloatingReset Quote: 22.87 – 23.35
Spot Rate : 0.4800
Average : 0.3279

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.87
Bid-YTW : 4.12 %
BAM.PF.E FixedReset Quote: 18.10 – 18.85
Spot Rate : 0.7500
Average : 0.5985

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 4.87 %
IAG.PR.G FixedReset Quote: 19.00 – 19.45
Spot Rate : 0.4500
Average : 0.3232

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.00
Bid-YTW : 7.46 %
Market Action

March 31, 2016

Yet another bare-bones effort!

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 5.03 % 6.11 % 10,981 16.56 1 -0.4441 % 1,564.9
FixedFloater 6.76 % 5.94 % 23,901 16.37 1 1.4440 % 2,940.3
Floater 4.59 % 4.73 % 61,799 15.98 4 0.8815 % 1,687.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.2660 % 2,798.5
SplitShare 4.73 % 5.11 % 89,430 1.61 6 0.2660 % 3,274.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2660 % 2,555.1
Perpetual-Premium 5.78 % -3.92 % 89,509 0.09 6 0.1516 % 2,564.3
Perpetual-Discount 5.59 % 5.61 % 93,910 14.42 33 0.3084 % 2,600.4
FixedReset 5.29 % 4.81 % 182,307 13.60 87 -0.0717 % 1,920.2
Deemed-Retractible 5.19 % 5.63 % 128,777 5.08 34 0.1209 % 2,620.9
FloatingReset 3.14 % 5.12 % 36,780 5.39 17 -0.6155 % 2,006.0
Performance Highlights
Issue Index Change Notes
TRP.PR.I FloatingReset -6.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 10.30
Evaluated at bid price : 10.30
Bid-YTW : 4.80 %
HSE.PR.G FixedReset -2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.04 %
RY.PR.M FixedReset -2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 4.45 %
BAM.PR.R FixedReset -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 14.84
Evaluated at bid price : 14.84
Bid-YTW : 5.10 %
MFC.PR.L FixedReset -1.77 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.25
Bid-YTW : 8.40 %
RY.PR.J FixedReset -1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.51 %
TRP.PR.A FixedReset -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 14.81
Evaluated at bid price : 14.81
Bid-YTW : 4.67 %
IFC.PR.A FixedReset -1.49 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.51
Bid-YTW : 10.21 %
MFC.PR.H FixedReset -1.38 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.08
Bid-YTW : 7.00 %
MFC.PR.F FixedReset -1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.03
Bid-YTW : 10.67 %
CIU.PR.C FixedReset -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 10.92
Evaluated at bid price : 10.92
Bid-YTW : 4.77 %
BNS.PR.P FixedReset -1.25 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.65
Bid-YTW : 4.13 %
FTS.PR.M FixedReset -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 18.02
Evaluated at bid price : 18.02
Bid-YTW : 4.72 %
BMO.PR.M FixedReset -1.05 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 4.03 %
W.PR.K FixedReset 1.00 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-01-15
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 5.04 %
GWO.PR.S Deemed-Retractible 1.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.10
Bid-YTW : 5.81 %
MFC.PR.J FixedReset 1.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.27
Bid-YTW : 7.82 %
PWF.PR.A Floater 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 11.25
Evaluated at bid price : 11.25
Bid-YTW : 4.24 %
TRP.PR.D FixedReset 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 4.70 %
BMO.PR.R FloatingReset 1.43 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.01
Bid-YTW : 4.43 %
BAM.PR.G FixedFloater 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 25.00
Evaluated at bid price : 14.05
Bid-YTW : 5.94 %
PWF.PR.T FixedReset 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 4.18 %
TD.PR.S FixedReset 1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.96
Bid-YTW : 4.49 %
BAM.PF.F FixedReset 1.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 4.84 %
FTS.PR.I FloatingReset 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 4.44 %
IAG.PR.G FixedReset 2.55 % 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 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BNS.PR.L Deemed-Retractible 160,460 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-05-27
Maturity Price : 25.00
Evaluated at bid price : 25.24
Bid-YTW : 3.19 %
TD.PF.G FixedReset 116,840 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.00
Bid-YTW : 4.89 %
RY.PR.Q FixedReset 76,644 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-05-24
Maturity Price : 25.00
Evaluated at bid price : 26.11
Bid-YTW : 4.89 %
TD.PF.B FixedReset 56,930 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 18.51
Evaluated at bid price : 18.51
Bid-YTW : 4.29 %
BAM.PF.G FixedReset 55,806 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 19.63
Evaluated at bid price : 19.63
Bid-YTW : 4.82 %
W.PR.K FixedReset 36,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-01-15
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 5.04 %
There were 29 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BAM.PF.F FixedReset Quote: 19.45 – 21.40
Spot Rate : 1.9500
Average : 1.1782

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 4.84 %
TRP.PR.I FloatingReset Quote: 10.30 – 11.75
Spot Rate : 1.4500
Average : 1.1511

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 10.30
Evaluated at bid price : 10.30
Bid-YTW : 4.80 %
BMO.PR.T FixedReset Quote: 18.30 – 18.98
Spot Rate : 0.6800
Average : 0.4581

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 4.30 %
TD.PR.Z FloatingReset Quote: 21.28 – 22.14
Spot Rate : 0.8600
Average : 0.7043

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.28
Bid-YTW : 5.19 %
MFC.PR.L FixedReset Quote: 17.25 – 17.68
Spot Rate : 0.4300
Average : 0.2900

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.25
Bid-YTW : 8.40 %
HSE.PR.G FixedReset Quote: 18.00 – 18.70
Spot Rate : 0.7000
Average : 0.5652

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-03-31
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.04 %