Category: Market Action

Market Action

April 11, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	-0.0291 %	2,040.3
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.0291 %	3,971.8
Floater	7.55 %	8.01 %	61,533	11.39	3	-0.0291 %	2,289.0
OpRet	0.00 %	0.00 %	0	0.00	0	0.0446 %	3,605.3
SplitShare	4.84 %	5.17 %	75,842	1.78	9	0.0446 %	4,305.5
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.0446 %	3,359.4
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	0.5397 %	2,791.5
Perpetual-Discount	6.16 %	6.27 %	60,035	13.54	33	0.5397 %	3,044.0
FixedReset Disc	5.99 %	7.20 %	135,760	12.33	49	0.3120 %	2,624.5
Insurance Straight	6.10 %	6.13 %	73,032	13.72	21	-0.0163 %	2,967.4
FloatingReset	5.98 %	5.96 %	40,226	13.93	3	0.3234 %	3,440.0
FixedReset Prem	6.55 %	5.86 %	147,972	13.59	10	0.1084 %	2,501.3
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	0.3120 %	2,682.8
FixedReset Ins Non	5.99 %	6.60 %	77,386	12.93	12	-0.3031 %	2,626.2

Performance Highlights
Issue	Index	Change	Notes
PWF.PR.T	FixedReset Disc	-18.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.10 Evaluated at bid price : 17.10 Bid-YTW : 7.87 %
CCS.PR.C	Insurance Straight	-17.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.57 Evaluated at bid price : 17.57 Bid-YTW : 7.19 %
MFC.PR.M	FixedReset Ins Non	-7.95 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.10 Evaluated at bid price : 19.10 Bid-YTW : 7.09 %
GWO.PR.T	Insurance Straight	-6.48 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.34 %
GWO.PR.R	Insurance Straight	-5.73 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.42 Evaluated at bid price : 19.42 Bid-YTW : 6.24 %
PWF.PR.A	Floater	-4.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 12.50 Evaluated at bid price : 12.50 Bid-YTW : 7.08 %
PWF.PR.H	Perpetual-Discount	-3.93 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.55 %
GWO.PR.L	Insurance Straight	-2.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 22.08 Evaluated at bid price : 22.31 Bid-YTW : 6.38 %
GWO.PR.G	Insurance Straight	-1.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 20.80 Evaluated at bid price : 20.80 Bid-YTW : 6.31 %
BN.PF.G	FixedReset Disc	-1.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.90 Evaluated at bid price : 17.90 Bid-YTW : 8.03 %
GWO.PR.N	FixedReset Ins Non	1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 14.75 Evaluated at bid price : 14.75 Bid-YTW : 6.94 %
ENB.PF.G	FixedReset Disc	1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.65 Evaluated at bid price : 17.65 Bid-YTW : 7.89 %
IFC.PR.E	Insurance Straight	1.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 21.74 Evaluated at bid price : 22.10 Bid-YTW : 5.92 %
PWF.PR.P	FixedReset Disc	1.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 14.25 Evaluated at bid price : 14.25 Bid-YTW : 7.65 %
FTS.PR.M	FixedReset Disc	1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 7.00 %
GWO.PR.M	Insurance Straight	1.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 23.25 Evaluated at bid price : 23.55 Bid-YTW : 6.20 %
BN.PF.J	FixedReset Disc	1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 22.04 Evaluated at bid price : 22.35 Bid-YTW : 6.81 %
MFC.PR.B	Insurance Straight	1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.55 Evaluated at bid price : 19.55 Bid-YTW : 6.02 %
BN.PF.I	FixedReset Disc	1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 22.11 Evaluated at bid price : 22.40 Bid-YTW : 7.36 %
FTS.PR.K	FixedReset Disc	1.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 6.80 %
BN.PF.B	FixedReset Disc	1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.41 Evaluated at bid price : 19.41 Bid-YTW : 7.42 %
IFC.PR.A	FixedReset Ins Non	1.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.35 Evaluated at bid price : 17.35 Bid-YTW : 6.78 %
BIP.PR.F	FixedReset Disc	1.95 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 21.70 Evaluated at bid price : 22.00 Bid-YTW : 6.85 %
ENB.PR.N	FixedReset Disc	2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 7.20 %
BIP.PR.E	FixedReset Disc	2.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 22.12 Evaluated at bid price : 22.50 Bid-YTW : 6.77 %
BN.PF.A	FixedReset Disc	2.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 7.08 %
IFC.PR.F	Insurance Straight	2.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 21.62 Evaluated at bid price : 22.01 Bid-YTW : 6.06 %
GWO.PR.S	Insurance Straight	2.88 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 6.28 %
BN.PR.K	Floater	2.91 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 10.95 Evaluated at bid price : 10.95 Bid-YTW : 8.01 %
BN.PR.B	Floater	3.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 10.95 Evaluated at bid price : 10.95 Bid-YTW : 8.01 %
GWO.PR.Q	Insurance Straight	3.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 20.91 Evaluated at bid price : 20.91 Bid-YTW : 6.22 %
IFC.PR.K	Insurance Straight	3.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 21.47 Evaluated at bid price : 21.80 Bid-YTW : 6.06 %
GWO.PR.I	Insurance Straight	3.89 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 6.07 %
CU.PR.F	Perpetual-Discount	4.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 6.18 %
BN.PR.Z	FixedReset Disc	5.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 7.46 %
ENB.PR.P	FixedReset Disc	7.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 18.23 Evaluated at bid price : 18.23 Bid-YTW : 7.75 %
GWO.PR.H	Insurance Straight	17.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 6.22 %
CU.PR.G	Perpetual-Discount	28.88 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 6.11 %

Volume Highlights
Issue	Index	Shares Traded	Notes
CU.PR.I	FixedReset Disc	75,000	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 23.93 Evaluated at bid price : 24.53 Bid-YTW : 6.67 %
NA.PR.C	FixedReset Prem	71,050	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 23.53 Evaluated at bid price : 25.23 Bid-YTW : 6.31 %
CM.PR.Q	FixedReset Disc	60,400	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 23.23 Evaluated at bid price : 24.15 Bid-YTW : 5.81 %
ENB.PF.E	FixedReset Disc	47,195	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.64 Evaluated at bid price : 17.64 Bid-YTW : 7.94 %
FTS.PR.M	FixedReset Disc	43,200	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 7.00 %
ENB.PR.Y	FixedReset Disc	32,643	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.07 Evaluated at bid price : 17.07 Bid-YTW : 7.88 %
There were 14 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
MFC.PR.M	FixedReset Ins Non	Quote: 19.10 – 25.00 Spot Rate : 5.9000 Average : 3.3405 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.10 Evaluated at bid price : 19.10 Bid-YTW : 7.09 %
FTS.PR.M	FixedReset Disc	Quote: 19.65 – 24.90 Spot Rate : 5.2500 Average : 3.1006 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 7.00 %
CCS.PR.C	Insurance Straight	Quote: 17.57 – 21.99 Spot Rate : 4.4200 Average : 2.6058 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.57 Evaluated at bid price : 17.57 Bid-YTW : 7.19 %
PWF.PR.T	FixedReset Disc	Quote: 17.10 – 21.40 Spot Rate : 4.3000 Average : 2.6215 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 17.10 Evaluated at bid price : 17.10 Bid-YTW : 7.87 %
MFC.PR.Q	FixedReset Ins Non	Quote: 22.45 – 25.00 Spot Rate : 2.5500 Average : 1.5615 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 22.06 Evaluated at bid price : 22.45 Bid-YTW : 6.23 %
GWO.PR.Y	Insurance Straight	Quote: 18.50 – 21.00 Spot Rate : 2.5000 Average : 1.7342 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-11 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 6.14 %

Market Action

April 10, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	-1.6857 %	2,040.9
FixedFloater	0.00 %	0.00 %	0	0.00	0	-1.6857 %	3,973.0
Floater	7.55 %	8.24 %	61,297	11.15	3	-1.6857 %	2,289.6
OpRet	0.00 %	0.00 %	0	0.00	0	-0.0356 %	3,603.7
SplitShare	4.84 %	5.12 %	78,760	1.79	9	-0.0356 %	4,303.6
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.0356 %	3,357.9
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-1.4713 %	2,776.5
Perpetual-Discount	6.19 %	6.26 %	64,066	13.56	33	-1.4713 %	3,027.7
FixedReset Disc	6.01 %	7.10 %	130,149	12.43	49	-1.6371 %	2,616.3
Insurance Straight	6.10 %	6.13 %	74,624	13.71	21	-2.2054 %	2,967.9
FloatingReset	5.98 %	5.92 %	37,238	13.99	3	-0.1614 %	3,428.9
FixedReset Prem	6.55 %	5.81 %	144,250	13.68	10	-0.4317 %	2,498.6
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-1.6371 %	2,674.4
FixedReset Ins Non	5.98 %	6.43 %	78,552	13.13	12	-1.9919 %	2,634.2

Performance Highlights
Issue	Index	Change	Notes
GWO.PR.H	Insurance Straight	-15.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 16.75 Evaluated at bid price : 16.75 Bid-YTW : 7.32 %
CU.PR.G	Perpetual-Discount	-9.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 14.51 Evaluated at bid price : 14.51 Bid-YTW : 7.90 %
ENB.PR.P	FixedReset Disc	-9.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 8.22 %
GWO.PR.S	Insurance Straight	-5.74 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.51 Evaluated at bid price : 20.51 Bid-YTW : 6.46 %
IFC.PR.A	FixedReset Ins Non	-5.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.02 Evaluated at bid price : 17.02 Bid-YTW : 6.79 %
IFC.PR.C	FixedReset Ins Non	-4.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 6.99 %
BN.PF.I	FixedReset Disc	-4.41 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.67 Evaluated at bid price : 22.11 Bid-YTW : 7.36 %
BIP.PR.E	FixedReset Disc	-4.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.84 %
IFC.PR.K	Insurance Straight	-4.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 6.28 %
GWO.PR.Q	Insurance Straight	-3.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.26 Evaluated at bid price : 20.26 Bid-YTW : 6.42 %
BIP.PR.F	FixedReset Disc	-3.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.29 Evaluated at bid price : 21.58 Bid-YTW : 6.89 %
BN.PR.Z	FixedReset Disc	-3.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 7.75 %
FTS.PR.K	FixedReset Disc	-3.66 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 6.81 %
BN.PF.A	FixedReset Disc	-3.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 7.16 %
BN.PR.B	Floater	-3.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 10.62 Evaluated at bid price : 10.62 Bid-YTW : 8.26 %
GWO.PR.I	Insurance Straight	-3.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 6.31 %
BN.PR.K	Floater	-3.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 10.64 Evaluated at bid price : 10.64 Bid-YTW : 8.24 %
PWF.PR.P	FixedReset Disc	-2.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 14.08 Evaluated at bid price : 14.08 Bid-YTW : 7.57 %
IFC.PR.G	FixedReset Ins Non	-2.93 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.52 Evaluated at bid price : 21.89 Bid-YTW : 6.31 %
ENB.PF.C	FixedReset Disc	-2.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 7.71 %
ENB.PF.G	FixedReset Disc	-2.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.47 Evaluated at bid price : 17.47 Bid-YTW : 7.83 %
BN.PR.X	FixedReset Disc	-2.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 14.90 Evaluated at bid price : 14.90 Bid-YTW : 7.80 %
IFC.PR.F	Insurance Straight	-2.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.43 Evaluated at bid price : 21.43 Bid-YTW : 6.24 %
POW.PR.D	Perpetual-Discount	-2.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.07 Evaluated at bid price : 20.07 Bid-YTW : 6.27 %
PWF.PF.A	Perpetual-Discount	-2.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.03 Evaluated at bid price : 18.03 Bid-YTW : 6.26 %
POW.PR.C	Perpetual-Discount	-2.51 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 23.02 Evaluated at bid price : 23.29 Bid-YTW : 6.25 %
FTS.PR.M	FixedReset Disc	-2.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.41 Evaluated at bid price : 19.41 Bid-YTW : 7.00 %
MFC.PR.B	Insurance Straight	-2.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 6.09 %
ENB.PF.A	FixedReset Disc	-2.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.27 Evaluated at bid price : 18.27 Bid-YTW : 7.70 %
BN.PF.F	FixedReset Disc	-2.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 7.46 %
POW.PR.A	Perpetual-Discount	-2.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.07 Evaluated at bid price : 22.30 Bid-YTW : 6.31 %
SLF.PR.C	Insurance Straight	-2.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.31 Evaluated at bid price : 19.31 Bid-YTW : 5.81 %
ENB.PR.J	FixedReset Disc	-2.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.57 Evaluated at bid price : 18.57 Bid-YTW : 7.60 %
CU.PR.J	Perpetual-Discount	-2.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.22 Evaluated at bid price : 19.22 Bid-YTW : 6.28 %
ENB.PR.F	FixedReset Disc	-2.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.33 Evaluated at bid price : 17.33 Bid-YTW : 7.88 %
PWF.PR.E	Perpetual-Discount	-2.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.84 Evaluated at bid price : 22.08 Bid-YTW : 6.24 %
ENB.PR.N	FixedReset Disc	-2.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.24 Evaluated at bid price : 20.24 Bid-YTW : 7.26 %
PWF.PR.L	Perpetual-Discount	-2.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.28 Evaluated at bid price : 20.28 Bid-YTW : 6.31 %
GWO.PR.Y	Insurance Straight	-2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.34 Evaluated at bid price : 18.34 Bid-YTW : 6.19 %
SLF.PR.E	Insurance Straight	-1.93 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 5.87 %
ENB.PF.E	FixedReset Disc	-1.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.47 Evaluated at bid price : 17.47 Bid-YTW : 7.87 %
PWF.PR.H	Perpetual-Discount	-1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.66 Evaluated at bid price : 22.90 Bid-YTW : 6.29 %
PWF.PR.K	Perpetual-Discount	-1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.76 Evaluated at bid price : 19.76 Bid-YTW : 6.29 %
ENB.PR.Y	FixedReset Disc	-1.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.18 Evaluated at bid price : 17.18 Bid-YTW : 7.72 %
BIP.PR.B	FixedReset Disc	-1.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 23.63 Evaluated at bid price : 24.25 Bid-YTW : 7.49 %
ENB.PR.T	FixedReset Disc	-1.80 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 7.48 %
MFC.PR.Q	FixedReset Ins Non	-1.76 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.96 Evaluated at bid price : 22.30 Bid-YTW : 6.19 %
BIP.PR.A	FixedReset Disc	-1.75 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.93 Evaluated at bid price : 22.45 Bid-YTW : 7.07 %
MFC.PR.C	Insurance Straight	-1.75 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.11 Evaluated at bid price : 19.11 Bid-YTW : 5.96 %
MFC.PR.L	FixedReset Ins Non	-1.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.11 Evaluated at bid price : 20.11 Bid-YTW : 6.52 %
CU.PR.F	Perpetual-Discount	-1.66 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.75 Evaluated at bid price : 17.75 Bid-YTW : 6.44 %
FFH.PR.K	FixedReset Disc	-1.66 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 23.36 Evaluated at bid price : 23.70 Bid-YTW : 6.51 %
SLF.PR.D	Insurance Straight	-1.63 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.26 Evaluated at bid price : 19.26 Bid-YTW : 5.83 %
BN.PR.M	Perpetual-Discount	-1.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.32 Evaluated at bid price : 18.32 Bid-YTW : 6.55 %
IFC.PR.I	Insurance Straight	-1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.07 Evaluated at bid price : 22.35 Bid-YTW : 6.08 %
CU.PR.D	Perpetual-Discount	-1.58 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.98 Evaluated at bid price : 19.98 Bid-YTW : 6.23 %
MFC.PR.M	FixedReset Ins Non	-1.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 6.43 %
BN.PF.J	FixedReset Disc	-1.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.83 Evaluated at bid price : 22.07 Bid-YTW : 6.81 %
CU.PR.H	Perpetual-Discount	-1.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.86 Evaluated at bid price : 22.10 Bid-YTW : 6.02 %
POW.PR.G	Perpetual-Discount	-1.49 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.18 Evaluated at bid price : 22.46 Bid-YTW : 6.26 %
ELF.PR.H	Perpetual-Discount	-1.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.88 Evaluated at bid price : 22.12 Bid-YTW : 6.24 %
GWO.PR.G	Insurance Straight	-1.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.16 Evaluated at bid price : 21.16 Bid-YTW : 6.20 %
PWF.PR.G	Perpetual-Discount	-1.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.99 Evaluated at bid price : 23.26 Bid-YTW : 6.35 %
BN.PR.R	FixedReset Disc	-1.41 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 16.04 Evaluated at bid price : 16.04 Bid-YTW : 7.73 %
SLF.PR.G	FixedReset Ins Non	-1.41 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 15.38 Evaluated at bid price : 15.38 Bid-YTW : 6.82 %
MFC.PR.I	FixedReset Ins Non	-1.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.51 Evaluated at bid price : 23.00 Bid-YTW : 6.25 %
BN.PR.T	FixedReset Disc	-1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 16.03 Evaluated at bid price : 16.03 Bid-YTW : 7.74 %
GWO.PR.P	Insurance Straight	-1.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.97 Evaluated at bid price : 22.20 Bid-YTW : 6.13 %
POW.PR.B	Perpetual-Discount	-1.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.51 Evaluated at bid price : 21.51 Bid-YTW : 6.26 %
PWF.PR.O	Perpetual-Discount	-1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 6.23 %
IFC.PR.E	Insurance Straight	-1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.51 Evaluated at bid price : 21.85 Bid-YTW : 5.99 %
PWF.PR.Z	Perpetual-Discount	-1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.48 Evaluated at bid price : 20.48 Bid-YTW : 6.31 %
ELF.PR.F	Perpetual-Discount	-1.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.37 Evaluated at bid price : 21.37 Bid-YTW : 6.24 %
SLF.PR.J	FloatingReset	-1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 15.65 Evaluated at bid price : 15.65 Bid-YTW : 6.57 %
MFC.PR.J	FixedReset Ins Non	-1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.28 Evaluated at bid price : 22.74 Bid-YTW : 6.15 %
BN.PF.G	FixedReset Disc	-1.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.12 Evaluated at bid price : 18.12 Bid-YTW : 7.79 %
PWF.PR.F	Perpetual-Discount	-1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.27 %
BN.PF.E	FixedReset Disc	-1.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.40 Evaluated at bid price : 17.40 Bid-YTW : 7.68 %
ENB.PR.B	FixedReset Disc	-1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 16.80 Evaluated at bid price : 16.80 Bid-YTW : 7.87 %
PWF.PR.T	FixedReset Disc	-1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.01 Evaluated at bid price : 21.01 Bid-YTW : 6.29 %
GWO.PR.M	Insurance Straight	-1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.99 Evaluated at bid price : 23.26 Bid-YTW : 6.28 %
CM.PR.Q	FixedReset Disc	-1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 23.08 Evaluated at bid price : 24.00 Bid-YTW : 5.74 %
TD.PF.A	FixedReset Disc	1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 22.52 Evaluated at bid price : 23.40 Bid-YTW : 5.32 %
GWO.PR.T	Insurance Straight	3.64 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.58 Evaluated at bid price : 21.92 Bid-YTW : 5.91 %
GWO.PR.R	Insurance Straight	5.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.88 %

Volume Highlights
Issue	Index	Shares Traded	Notes
BN.PF.B	FixedReset Disc	109,100	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.06 Evaluated at bid price : 19.06 Bid-YTW : 7.46 %
ENB.PR.B	FixedReset Disc	80,141	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 16.80 Evaluated at bid price : 16.80 Bid-YTW : 7.87 %
CM.PR.Q	FixedReset Disc	31,900	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 23.08 Evaluated at bid price : 24.00 Bid-YTW : 5.74 %
PWF.PR.F	Perpetual-Discount	24,075	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.27 %
ENB.PR.T	FixedReset Disc	20,751	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 7.48 %
ENB.PR.Y	FixedReset Disc	20,098	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.18 Evaluated at bid price : 17.18 Bid-YTW : 7.72 %
There were 22 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
ENB.PF.G	FixedReset Disc	Quote: 17.47 – 21.42 Spot Rate : 3.9500 Average : 2.2527 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.47 Evaluated at bid price : 17.47 Bid-YTW : 7.83 %
GWO.PR.H	Insurance Straight	Quote: 16.75 – 20.05 Spot Rate : 3.3000 Average : 1.8986 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 16.75 Evaluated at bid price : 16.75 Bid-YTW : 7.32 %
FTS.PR.K	FixedReset Disc	Quote: 18.70 – 21.40 Spot Rate : 2.7000 Average : 1.6864 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 6.81 %
BN.PF.E	FixedReset Disc	Quote: 17.40 – 20.60 Spot Rate : 3.2000 Average : 2.3962 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.40 Evaluated at bid price : 17.40 Bid-YTW : 7.68 %
ENB.PR.P	FixedReset Disc	Quote: 17.00 – 19.00 Spot Rate : 2.0000 Average : 1.2152 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 8.22 %
ENB.PF.E	FixedReset Disc	Quote: 17.47 – 19.30 Spot Rate : 1.8300 Average : 1.0743 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-10 Maturity Price : 17.47 Evaluated at bid price : 17.47 Bid-YTW : 7.87 %

Market Action

April 9, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	-1.9333 %	2,075.9
FixedFloater	0.00 %	0.00 %	0	0.00	0	-1.9333 %	4,041.1
Floater	7.43 %	7.98 %	61,562	11.43	3	-1.9333 %	2,328.9
OpRet	0.00 %	0.00 %	0	0.00	0	0.1696 %	3,605.0
SplitShare	4.84 %	5.07 %	79,862	1.79	9	0.1696 %	4,305.2
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.1696 %	3,359.1
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.3260 %	2,818.0
Perpetual-Discount	6.10 %	6.16 %	61,846	13.69	33	-0.3260 %	3,072.9
FixedReset Disc	5.91 %	6.73 %	132,234	12.81	49	0.2067 %	2,659.9
Insurance Straight	5.97 %	6.06 %	75,754	13.83	21	0.3834 %	3,034.8
FloatingReset	5.89 %	5.88 %	38,465	14.05	3	-0.0645 %	3,434.5
FixedReset Prem	6.52 %	5.61 %	144,683	13.87	10	0.0360 %	2,509.4
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	0.2067 %	2,718.9
FixedReset Ins Non	5.86 %	6.16 %	78,615	13.60	12	0.7038 %	2,687.7

Performance Highlights
Issue	Index	Change	Notes
CU.PR.F	Perpetual-Discount	-4.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 18.05 Evaluated at bid price : 18.05 Bid-YTW : 6.33 %
ENB.PF.K	FixedReset Disc	-4.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.12 Evaluated at bid price : 22.50 Bid-YTW : 6.60 %
FTS.PR.G	FixedReset Disc	-3.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 6.34 %
BN.PF.B	FixedReset Disc	-3.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.14 Evaluated at bid price : 19.14 Bid-YTW : 7.24 %
FTS.PR.K	FixedReset Disc	-3.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.41 Evaluated at bid price : 19.41 Bid-YTW : 6.36 %
PWF.PR.T	FixedReset Disc	-3.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.26 Evaluated at bid price : 21.26 Bid-YTW : 6.04 %
ENB.PR.D	FixedReset Disc	-2.68 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 17.08 Evaluated at bid price : 17.08 Bid-YTW : 7.55 %
ENB.PR.A	Perpetual-Discount	-2.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.92 Evaluated at bid price : 22.16 Bid-YTW : 6.29 %
PWF.PR.A	Floater	-2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 13.03 Evaluated at bid price : 13.03 Bid-YTW : 6.78 %
MFC.PR.L	FixedReset Ins Non	-2.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 20.46 Evaluated at bid price : 20.46 Bid-YTW : 6.23 %
BN.PR.K	Floater	-1.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 10.99 Evaluated at bid price : 10.99 Bid-YTW : 7.98 %
IFC.PR.E	Insurance Straight	-1.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.78 Evaluated at bid price : 22.14 Bid-YTW : 5.90 %
IFC.PR.I	Insurance Straight	-1.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.33 Evaluated at bid price : 22.71 Bid-YTW : 5.98 %
BN.PR.B	Floater	-1.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 10.98 Evaluated at bid price : 10.98 Bid-YTW : 7.98 %
FTS.PR.M	FixedReset Disc	-1.78 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.90 Evaluated at bid price : 19.90 Bid-YTW : 6.65 %
CU.PR.J	Perpetual-Discount	-1.75 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 6.14 %
IFC.PR.F	Insurance Straight	-1.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.61 Evaluated at bid price : 22.00 Bid-YTW : 6.06 %
CU.PR.H	Perpetual-Discount	-1.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.17 Evaluated at bid price : 22.45 Bid-YTW : 5.92 %
GWO.PR.I	Insurance Straight	-1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 18.61 Evaluated at bid price : 18.61 Bid-YTW : 6.10 %
PWF.PR.F	Perpetual-Discount	-1.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.26 Evaluated at bid price : 21.26 Bid-YTW : 6.20 %
ENB.PR.H	FixedReset Disc	-1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 18.77 Evaluated at bid price : 18.77 Bid-YTW : 6.85 %
MFC.PR.I	FixedReset Ins Non	-1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.70 Evaluated at bid price : 23.32 Bid-YTW : 5.98 %
MFC.PR.K	FixedReset Ins Non	-1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.12 Evaluated at bid price : 22.57 Bid-YTW : 5.75 %
BN.PR.N	Perpetual-Discount	-1.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 6.52 %
NA.PR.C	FixedReset Prem	-1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.48 Evaluated at bid price : 25.09 Bid-YTW : 6.10 %
MFC.PR.J	FixedReset Ins Non	-1.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.46 Evaluated at bid price : 23.03 Bid-YTW : 5.89 %
PWF.PR.Z	Perpetual-Discount	-1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 6.23 %
GWO.PR.R	Insurance Straight	-1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.55 Evaluated at bid price : 19.55 Bid-YTW : 6.20 %
TD.PF.I	FixedReset Prem	1.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.55 Evaluated at bid price : 25.25 Bid-YTW : 5.70 %
ENB.PF.E	FixedReset Disc	1.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 17.80 Evaluated at bid price : 17.80 Bid-YTW : 7.46 %
BIP.PR.B	FixedReset Disc	1.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 24.19 Evaluated at bid price : 24.70 Bid-YTW : 7.18 %
FTS.PR.F	Perpetual-Discount	1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 20.61 Evaluated at bid price : 20.61 Bid-YTW : 6.03 %
ENB.PR.T	FixedReset Disc	1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 7.15 %
TD.PF.J	FixedReset Prem	1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.30 Evaluated at bid price : 24.81 Bid-YTW : 5.46 %
PWF.PR.G	Perpetual-Discount	1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.32 Evaluated at bid price : 23.60 Bid-YTW : 6.26 %
IFC.PR.K	Insurance Straight	1.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.70 Evaluated at bid price : 22.01 Bid-YTW : 6.00 %
PVS.PR.L	SplitShare	1.20 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 5.47 %
NA.PR.E	FixedReset Disc	1.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.05 Evaluated at bid price : 24.20 Bid-YTW : 5.41 %
TD.PF.E	FixedReset Disc	1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.32 Evaluated at bid price : 24.05 Bid-YTW : 5.64 %
BN.PF.J	FixedReset Disc	1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.09 Evaluated at bid price : 22.42 Bid-YTW : 6.51 %
BIP.PR.A	FixedReset Disc	1.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.18 Evaluated at bid price : 22.85 Bid-YTW : 6.73 %
IFC.PR.G	FixedReset Ins Non	1.49 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.13 Evaluated at bid price : 22.55 Bid-YTW : 5.94 %
CU.PR.D	Perpetual-Discount	1.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 6.13 %
GWO.PR.G	Insurance Straight	1.75 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.47 Evaluated at bid price : 21.47 Bid-YTW : 6.11 %
PWF.PR.S	Perpetual-Discount	1.76 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.31 Evaluated at bid price : 19.31 Bid-YTW : 6.24 %
BIP.PR.E	FixedReset Disc	1.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.44 Evaluated at bid price : 23.00 Bid-YTW : 6.35 %
ENB.PF.G	FixedReset Disc	1.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 17.95 Evaluated at bid price : 17.95 Bid-YTW : 7.35 %
BN.PF.H	FixedReset Disc	1.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.81 Evaluated at bid price : 24.40 Bid-YTW : 6.88 %
ENB.PF.C	FixedReset Disc	1.98 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 7.32 %
POW.PR.C	Perpetual-Discount	2.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.62 Evaluated at bid price : 23.89 Bid-YTW : 6.09 %
CU.PR.I	FixedReset Disc	2.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.83 Evaluated at bid price : 24.45 Bid-YTW : 6.40 %
IFC.PR.C	FixedReset Ins Non	2.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 6.44 %
MFC.PR.C	Insurance Straight	2.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.45 Evaluated at bid price : 19.45 Bid-YTW : 5.85 %
SLF.PR.D	Insurance Straight	2.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.58 Evaluated at bid price : 19.58 Bid-YTW : 5.73 %
PWF.PR.L	Perpetual-Discount	3.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 20.71 Evaluated at bid price : 20.71 Bid-YTW : 6.18 %
GWO.PR.T	Insurance Straight	3.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 6.14 %
MFC.PR.Q	FixedReset Ins Non	3.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.23 Evaluated at bid price : 22.70 Bid-YTW : 5.89 %
BN.PF.A	FixedReset Disc	3.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.39 Evaluated at bid price : 21.72 Bid-YTW : 6.72 %
BN.PR.Z	FixedReset Disc	4.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.76 Evaluated at bid price : 19.76 Bid-YTW : 7.25 %
GWO.PR.N	FixedReset Ins Non	4.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 14.70 Evaluated at bid price : 14.70 Bid-YTW : 6.49 %
PWF.PR.E	Perpetual-Discount	4.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.28 Evaluated at bid price : 22.55 Bid-YTW : 6.10 %
GWO.PR.S	Insurance Straight	4.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.50 Evaluated at bid price : 21.76 Bid-YTW : 6.07 %
IFC.PR.A	FixedReset Ins Non	5.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 18.05 Evaluated at bid price : 18.05 Bid-YTW : 6.17 %
BN.PF.I	FixedReset Disc	5.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.79 Evaluated at bid price : 23.13 Bid-YTW : 6.86 %
BN.PF.C	Perpetual-Discount	5.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 18.78 Evaluated at bid price : 18.78 Bid-YTW : 6.52 %

Volume Highlights
Issue	Index	Shares Traded	Notes
BN.PF.B	FixedReset Disc	92,679	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.14 Evaluated at bid price : 19.14 Bid-YTW : 7.24 %
FFH.PR.G	FixedReset Disc	82,774	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.89 Evaluated at bid price : 22.40 Bid-YTW : 5.70 %
RY.PR.J	FixedReset Disc	81,109	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.86 Evaluated at bid price : 24.22 Bid-YTW : 5.48 %
CM.PR.Q	FixedReset Disc	79,653	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 23.35 Evaluated at bid price : 24.25 Bid-YTW : 5.49 %
ENB.PR.B	FixedReset Disc	78,636	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 7.54 %
FFH.PR.I	FixedReset Disc	67,247	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.08 Evaluated at bid price : 22.71 Bid-YTW : 5.90 %
There were 42 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
PWF.PR.T	FixedReset Disc	Quote: 21.26 – 22.70 Spot Rate : 1.4400 Average : 0.8373 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.26 Evaluated at bid price : 21.26 Bid-YTW : 6.04 %
GWO.PR.R	Insurance Straight	Quote: 19.55 – 21.20 Spot Rate : 1.6500 Average : 1.1061 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 19.55 Evaluated at bid price : 19.55 Bid-YTW : 6.20 %
BN.PF.J	FixedReset Disc	Quote: 22.42 – 24.37 Spot Rate : 1.9500 Average : 1.4400 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.09 Evaluated at bid price : 22.42 Bid-YTW : 6.51 %
FFH.PR.G	FixedReset Disc	Quote: 22.40 – 23.80 Spot Rate : 1.4000 Average : 0.9069 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 21.89 Evaluated at bid price : 22.40 Bid-YTW : 5.70 %
ENB.PR.F	FixedReset Disc	Quote: 17.70 – 19.00 Spot Rate : 1.3000 Average : 0.8090 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 7.50 %
FFH.PR.J	FloatingReset	Quote: 23.25 – 24.40 Spot Rate : 1.1500 Average : 0.6936 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-09 Maturity Price : 22.85 Evaluated at bid price : 23.25 Bid-YTW : 5.88 %

Market Action

April 8, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	0.1965 %	2,116.9
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.1965 %	4,120.7
Floater	7.28 %	7.82 %	61,734	11.61	3	0.1965 %	2,374.8
OpRet	0.00 %	0.00 %	0	0.00	0	0.7100 %	3,598.9
SplitShare	4.85 %	5.01 %	80,886	1.79	9	0.7100 %	4,297.9
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.7100 %	3,353.4
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	0.3676 %	2,827.2
Perpetual-Discount	6.08 %	6.18 %	62,141	13.62	33	0.3676 %	3,082.9
FixedReset Disc	5.92 %	6.79 %	128,324	12.77	49	-0.1804 %	2,654.4
Insurance Straight	5.99 %	6.05 %	74,267	13.85	21	-0.1663 %	3,023.2
FloatingReset	5.88 %	5.89 %	35,619	14.03	3	0.9609 %	3,436.7
FixedReset Prem	6.53 %	5.62 %	139,671	13.85	10	0.3773 %	2,508.5
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.1804 %	2,713.3
FixedReset Ins Non	5.90 %	6.10 %	75,925	13.49	12	-1.0920 %	2,669.0

Performance Highlights
Issue	Index	Change	Notes
BN.PR.Z	FixedReset Disc	-8.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 7.54 %
BN.PF.C	Perpetual-Discount	-5.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 17.85 Evaluated at bid price : 17.85 Bid-YTW : 6.86 %
BN.PF.A	FixedReset Disc	-5.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.98 %
IFC.PR.C	FixedReset Ins Non	-4.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 6.59 %
MFC.PR.Q	FixedReset Ins Non	-4.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.74 Evaluated at bid price : 22.00 Bid-YTW : 6.10 %
PWF.PR.E	Perpetual-Discount	-3.93 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.38 %
GWO.PR.N	FixedReset Ins Non	-3.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 14.13 Evaluated at bid price : 14.13 Bid-YTW : 6.75 %
BN.PF.J	FixedReset Disc	-3.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.86 Evaluated at bid price : 22.11 Bid-YTW : 6.61 %
PWF.PR.L	Perpetual-Discount	-2.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 20.41 Evaluated at bid price : 20.41 Bid-YTW : 6.39 %
BN.PF.B	FixedReset Disc	-2.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.81 Evaluated at bid price : 19.81 Bid-YTW : 6.99 %
IFC.PR.K	Insurance Straight	-2.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.44 Evaluated at bid price : 21.76 Bid-YTW : 6.07 %
BN.PF.I	FixedReset Disc	-2.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.60 Evaluated at bid price : 22.01 Bid-YTW : 7.20 %
FTS.PR.J	Perpetual-Discount	-2.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.77 Evaluated at bid price : 19.77 Bid-YTW : 6.10 %
ENB.PR.T	FixedReset Disc	-2.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 7.23 %
CU.PR.I	FixedReset Disc	-2.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 23.21 Evaluated at bid price : 23.90 Bid-YTW : 6.55 %
MFC.PR.C	Insurance Straight	-1.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 5.99 %
FTS.PR.F	Perpetual-Discount	-1.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 20.40 Evaluated at bid price : 20.40 Bid-YTW : 6.10 %
GWO.PR.S	Insurance Straight	-1.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 6.35 %
SLF.PR.D	Insurance Straight	-1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.04 Evaluated at bid price : 19.04 Bid-YTW : 5.89 %
MFC.PR.L	FixedReset Ins Non	-1.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 20.88 Evaluated at bid price : 20.88 Bid-YTW : 6.10 %
IFC.PR.G	FixedReset Ins Non	-1.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.90 Evaluated at bid price : 22.22 Bid-YTW : 6.03 %
TD.PF.J	FixedReset Prem	-1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 23.20 Evaluated at bid price : 24.55 Bid-YTW : 5.52 %
MFC.PR.K	FixedReset Ins Non	1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 22.31 Evaluated at bid price : 22.86 Bid-YTW : 5.67 %
BN.PR.T	FixedReset Disc	1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 16.10 Evaluated at bid price : 16.10 Bid-YTW : 7.45 %
BIP.PR.A	FixedReset Disc	1.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.98 Evaluated at bid price : 22.52 Bid-YTW : 6.83 %
ENB.PR.A	Perpetual-Discount	1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 22.49 Evaluated at bid price : 22.75 Bid-YTW : 6.12 %
PWF.PF.A	Perpetual-Discount	1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 18.91 Evaluated at bid price : 18.91 Bid-YTW : 6.08 %
BN.PR.X	FixedReset Disc	1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 15.25 Evaluated at bid price : 15.25 Bid-YTW : 7.35 %
FTS.PR.K	FixedReset Disc	1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 6.15 %
CU.PR.J	Perpetual-Discount	1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.03 %
ENB.PF.K	FixedReset Disc	1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 22.71 Evaluated at bid price : 23.45 Bid-YTW : 6.31 %
BN.PR.N	Perpetual-Discount	1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 18.63 Evaluated at bid price : 18.63 Bid-YTW : 6.43 %
PWF.PR.F	Perpetual-Discount	1.34 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.63 Evaluated at bid price : 21.88 Bid-YTW : 6.11 %
PWF.PR.P	FixedReset Disc	1.39 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 14.55 Evaluated at bid price : 14.55 Bid-YTW : 7.09 %
NA.PR.K	FixedReset Prem	1.46 %	YTW SCENARIO Maturity Type : Call Maturity Date : 2029-05-01 Maturity Price : 25.00 Evaluated at bid price : 26.46 Bid-YTW : 6.46 %
IFC.PR.F	Insurance Straight	1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.91 Evaluated at bid price : 22.35 Bid-YTW : 5.96 %
BIP.PR.F	FixedReset Disc	1.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.88 Evaluated at bid price : 22.25 Bid-YTW : 6.51 %
FFH.PR.J	FloatingReset	1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 22.80 Evaluated at bid price : 23.20 Bid-YTW : 5.89 %
ENB.PR.F	FixedReset Disc	1.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 17.80 Evaluated at bid price : 17.80 Bid-YTW : 7.45 %
FFH.PR.G	FixedReset Disc	1.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.89 Evaluated at bid price : 22.40 Bid-YTW : 5.69 %
BIP.PR.E	FixedReset Disc	2.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 22.18 Evaluated at bid price : 22.60 Bid-YTW : 6.47 %
FTS.PR.H	FixedReset Disc	2.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 14.99 Evaluated at bid price : 14.99 Bid-YTW : 6.79 %
ENB.PR.H	FixedReset Disc	2.76 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.02 Evaluated at bid price : 19.02 Bid-YTW : 6.75 %
PVS.PR.J	SplitShare	5.32 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 24.75 Bid-YTW : 4.94 %
PWF.PR.O	Perpetual-Discount	8.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 23.66 Evaluated at bid price : 23.93 Bid-YTW : 6.18 %
PWF.PR.S	Perpetual-Discount	16.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.27 Evaluated at bid price : 19.27 Bid-YTW : 6.36 %

Volume Highlights
Issue	Index	Shares Traded	Notes
ENB.PR.B	FixedReset Disc	73,452	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 17.10 Evaluated at bid price : 17.10 Bid-YTW : 7.49 %
MFC.PR.J	FixedReset Ins Non	66,490	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 22.62 Evaluated at bid price : 23.30 Bid-YTW : 5.81 %
MFC.PR.M	FixedReset Ins Non	53,100	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.07 Evaluated at bid price : 21.07 Bid-YTW : 6.16 %
FFH.PR.G	FixedReset Disc	34,300	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.89 Evaluated at bid price : 22.40 Bid-YTW : 5.69 %
RY.PR.J	FixedReset Disc	30,616	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 22.78 Evaluated at bid price : 24.03 Bid-YTW : 5.53 %
CM.PR.Q	FixedReset Disc	29,700	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 23.36 Evaluated at bid price : 24.26 Bid-YTW : 5.48 %
There were 30 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
BN.PF.A	FixedReset Disc	Quote: 21.00 – 24.65 Spot Rate : 3.6500 Average : 2.3994 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.98 %
BN.PR.Z	FixedReset Disc	Quote: 19.00 – 21.72 Spot Rate : 2.7200 Average : 1.5481 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 7.54 %
IFC.PR.C	FixedReset Ins Non	Quote: 19.40 – 22.55 Spot Rate : 3.1500 Average : 2.1643 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 6.59 %
BN.PR.T	FixedReset Disc	Quote: 16.10 – 18.95 Spot Rate : 2.8500 Average : 1.8702 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 16.10 Evaluated at bid price : 16.10 Bid-YTW : 7.45 %
GWO.PR.N	FixedReset Ins Non	Quote: 14.13 – 15.90 Spot Rate : 1.7700 Average : 1.0157 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 14.13 Evaluated at bid price : 14.13 Bid-YTW : 6.75 %
BN.PF.G	FixedReset Disc	Quote: 18.30 – 20.48 Spot Rate : 2.1800 Average : 1.4554 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-08 Maturity Price : 18.30 Evaluated at bid price : 18.30 Bid-YTW : 7.45 %

Market Action

April 7, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	-0.8076 %	2,112.7
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.8076 %	4,112.7
Floater	7.30 %	7.79 %	62,832	11.64	3	-0.8076 %	2,370.1
OpRet	0.00 %	0.00 %	0	0.00	0	-0.4919 %	3,573.5
SplitShare	4.88 %	5.54 %	81,019	1.79	9	-0.4919 %	4,267.6
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.4919 %	3,329.7
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-1.3945 %	2,816.9
Perpetual-Discount	6.10 %	6.19 %	61,629	13.61	33	-1.3945 %	3,071.6
FixedReset Disc	5.91 %	6.80 %	125,851	12.69	49	-2.4510 %	2,659.2
Insurance Straight	5.98 %	6.05 %	73,268	13.81	21	-0.4401 %	3,028.3
FloatingReset	5.94 %	5.99 %	34,816	13.89	3	-2.5397 %	3,404.0
FixedReset Prem	6.55 %	5.62 %	140,644	13.85	10	-1.7083 %	2,499.1
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-2.4510 %	2,718.2
FixedReset Ins Non	5.83 %	6.01 %	72,933	13.67	12	-3.1917 %	2,698.4

Performance Highlights
Issue	Index	Change	Notes
CU.PR.F	Perpetual-Discount	-17.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.97 Evaluated at bid price : 18.97 Bid-YTW : 6.02 %
IFC.PR.A	FixedReset Ins Non	-9.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 6.46 %
PWF.PR.O	Perpetual-Discount	-8.45 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.73 %
BN.PF.I	FixedReset Disc	-6.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.22 Evaluated at bid price : 22.52 Bid-YTW : 7.04 %
ENB.PR.H	FixedReset Disc	-6.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.51 Evaluated at bid price : 18.51 Bid-YTW : 6.95 %
PVS.PR.J	SplitShare	-5.66 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 23.50 Bid-YTW : 6.90 %
MFC.PR.M	FixedReset Ins Non	-5.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.18 %
ENB.PR.F	FixedReset Disc	-5.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 7.58 %
BIP.PR.E	FixedReset Disc	-4.78 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.84 Evaluated at bid price : 22.12 Bid-YTW : 6.62 %
FTS.PR.H	FixedReset Disc	-4.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 14.66 Evaluated at bid price : 14.66 Bid-YTW : 6.95 %
GWO.PR.N	FixedReset Ins Non	-4.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 14.69 Evaluated at bid price : 14.69 Bid-YTW : 6.50 %
BN.PR.R	FixedReset Disc	-4.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 15.98 Evaluated at bid price : 15.98 Bid-YTW : 7.49 %
CU.PR.C	FixedReset Disc	-4.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 6.71 %
BN.PF.F	FixedReset Disc	-4.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 7.04 %
BN.PF.G	FixedReset Disc	-4.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.20 Evaluated at bid price : 18.20 Bid-YTW : 7.49 %
ENB.PR.D	FixedReset Disc	-4.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 7.36 %
BIP.PR.A	FixedReset Disc	-4.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.82 Evaluated at bid price : 22.28 Bid-YTW : 6.91 %
ENB.PR.N	FixedReset Disc	-3.99 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.95 Evaluated at bid price : 20.95 Bid-YTW : 6.82 %
BN.PR.X	FixedReset Disc	-3.89 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 15.06 Evaluated at bid price : 15.06 Bid-YTW : 7.44 %
FTS.PR.K	FixedReset Disc	-3.88 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 6.23 %
IFC.PR.G	FixedReset Ins Non	-3.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.06 Evaluated at bid price : 22.45 Bid-YTW : 5.97 %
ENB.PR.B	FixedReset Disc	-3.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 7.54 %
FTS.PR.M	FixedReset Disc	-3.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.29 Evaluated at bid price : 20.29 Bid-YTW : 6.52 %
FTS.PR.F	Perpetual-Discount	-3.58 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 5.99 %
FTS.PR.G	FixedReset Disc	-3.45 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.10 %
BN.PF.D	Perpetual-Discount	-3.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.83 Evaluated at bid price : 18.83 Bid-YTW : 6.57 %
ENB.PR.P	FixedReset Disc	-3.42 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.65 Evaluated at bid price : 18.65 Bid-YTW : 7.27 %
BN.PF.J	FixedReset Disc	-3.39 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.34 Evaluated at bid price : 22.80 Bid-YTW : 6.39 %
BIP.PR.F	FixedReset Disc	-3.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.63 Evaluated at bid price : 21.90 Bid-YTW : 6.62 %
GWO.PR.S	Insurance Straight	-3.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 6.25 %
BN.PR.Z	FixedReset Disc	-3.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 6.91 %
ENB.PR.Y	FixedReset Disc	-3.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.58 Evaluated at bid price : 17.58 Bid-YTW : 7.34 %
BN.PF.C	Perpetual-Discount	-3.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 6.48 %
SLF.PR.G	FixedReset Ins Non	-3.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 15.56 Evaluated at bid price : 15.56 Bid-YTW : 6.44 %
ENB.PF.A	FixedReset Disc	-3.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.62 Evaluated at bid price : 18.62 Bid-YTW : 7.37 %
FFH.PR.G	FixedReset Disc	-3.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.60 Evaluated at bid price : 21.97 Bid-YTW : 5.81 %
ENB.PR.T	FixedReset Disc	-2.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.61 Evaluated at bid price : 19.61 Bid-YTW : 7.07 %
IFC.PR.F	Insurance Straight	-2.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.61 Evaluated at bid price : 22.00 Bid-YTW : 6.05 %
NA.PR.I	FixedReset Prem	-2.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.08 Evaluated at bid price : 24.55 Bid-YTW : 5.87 %
SLF.PR.J	FloatingReset	-2.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 15.79 Evaluated at bid price : 15.79 Bid-YTW : 6.39 %
ENB.PF.G	FixedReset Disc	-2.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.58 Evaluated at bid price : 17.58 Bid-YTW : 7.51 %
FFH.PR.J	FloatingReset	-2.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.51 Evaluated at bid price : 22.82 Bid-YTW : 5.99 %
BN.PF.E	FixedReset Disc	-2.68 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.76 Evaluated at bid price : 17.76 Bid-YTW : 7.34 %
MFC.PR.I	FixedReset Ins Non	-2.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.75 Evaluated at bid price : 23.40 Bid-YTW : 5.96 %
FFH.PR.I	FixedReset Disc	-2.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.88 Evaluated at bid price : 22.40 Bid-YTW : 5.98 %
ENB.PR.J	FixedReset Disc	-2.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 7.23 %
MFC.PR.F	FixedReset Ins Non	-2.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 15.17 Evaluated at bid price : 15.17 Bid-YTW : 6.44 %
MFC.PR.K	FixedReset Ins Non	-2.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.15 Evaluated at bid price : 22.62 Bid-YTW : 5.73 %
POW.PR.B	Perpetual-Discount	-2.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.54 Evaluated at bid price : 21.80 Bid-YTW : 6.16 %
MFC.PR.L	FixedReset Ins Non	-2.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.17 Evaluated at bid price : 21.17 Bid-YTW : 6.01 %
PWF.PR.A	Floater	-2.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 13.25 Evaluated at bid price : 13.25 Bid-YTW : 6.67 %
FFH.PR.H	FloatingReset	-2.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.53 Evaluated at bid price : 22.79 Bid-YTW : 5.68 %
MFC.PR.J	FixedReset Ins Non	-2.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.59 Evaluated at bid price : 23.25 Bid-YTW : 5.83 %
SLF.PR.D	Insurance Straight	-2.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.31 Evaluated at bid price : 19.31 Bid-YTW : 5.81 %
GWO.PR.P	Insurance Straight	-2.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.97 Evaluated at bid price : 22.20 Bid-YTW : 6.12 %
BN.PR.M	Perpetual-Discount	-2.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.65 Evaluated at bid price : 18.65 Bid-YTW : 6.43 %
NA.PR.K	FixedReset Prem	-1.99 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.56 Evaluated at bid price : 26.08 Bid-YTW : 6.69 %
BN.PR.T	FixedReset Disc	-1.97 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 15.93 Evaluated at bid price : 15.93 Bid-YTW : 7.53 %
PWF.PR.F	Perpetual-Discount	-1.95 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.32 Evaluated at bid price : 21.59 Bid-YTW : 6.19 %
PWF.PR.G	Perpetual-Discount	-1.89 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.57 Evaluated at bid price : 23.84 Bid-YTW : 6.31 %
CCS.PR.C	Insurance Straight	-1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.30 Evaluated at bid price : 21.30 Bid-YTW : 5.92 %
SLF.PR.E	Insurance Straight	-1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 5.74 %
ENB.PF.K	FixedReset Disc	-1.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.54 Evaluated at bid price : 23.15 Bid-YTW : 6.40 %
GWO.PR.Y	Insurance Straight	-1.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.66 Evaluated at bid price : 18.66 Bid-YTW : 6.08 %
GWO.PR.I	Insurance Straight	-1.78 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.80 Evaluated at bid price : 18.80 Bid-YTW : 6.04 %
GWO.PR.Q	Insurance Straight	-1.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.08 Evaluated at bid price : 21.08 Bid-YTW : 6.16 %
PWF.PR.H	Perpetual-Discount	-1.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.16 Evaluated at bid price : 23.42 Bid-YTW : 6.26 %
MFC.PR.C	Insurance Straight	-1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.38 Evaluated at bid price : 19.38 Bid-YTW : 5.87 %
BN.PR.N	Perpetual-Discount	-1.66 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.39 Evaluated at bid price : 18.39 Bid-YTW : 6.52 %
PWF.PR.Z	Perpetual-Discount	-1.63 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.11 Evaluated at bid price : 21.11 Bid-YTW : 6.23 %
ENB.PF.C	FixedReset Disc	-1.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.21 Evaluated at bid price : 18.21 Bid-YTW : 7.43 %
SLF.PR.C	Insurance Straight	-1.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 5.68 %
RY.PR.J	FixedReset Disc	-1.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.79 Evaluated at bid price : 24.05 Bid-YTW : 5.53 %
FTS.PR.J	Perpetual-Discount	-1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 5.96 %
FFH.PR.K	FixedReset Disc	-1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.30 Evaluated at bid price : 24.30 Bid-YTW : 6.14 %
NA.PR.E	FixedReset Disc	-1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.96 Evaluated at bid price : 24.00 Bid-YTW : 5.46 %
RY.PR.S	FixedReset Prem	-1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.15 Evaluated at bid price : 24.70 Bid-YTW : 5.25 %
PWF.PR.L	Perpetual-Discount	-1.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.20 %
TD.PF.A	FixedReset Disc	-1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.52 Evaluated at bid price : 23.40 Bid-YTW : 5.26 %
POW.PR.G	Perpetual-Discount	-1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.55 Evaluated at bid price : 22.80 Bid-YTW : 6.16 %
GWO.PR.L	Insurance Straight	-1.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.71 Evaluated at bid price : 23.00 Bid-YTW : 6.18 %
ENB.PF.E	FixedReset Disc	-1.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.61 Evaluated at bid price : 17.61 Bid-YTW : 7.53 %
NA.PR.C	FixedReset Prem	-1.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.54 Evaluated at bid price : 25.26 Bid-YTW : 6.05 %
CU.PR.J	Perpetual-Discount	-1.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 6.10 %
GWO.PR.H	Insurance Straight	-1.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.84 Evaluated at bid price : 19.84 Bid-YTW : 6.17 %
RY.PR.N	Perpetual-Discount	-1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.69 Evaluated at bid price : 24.00 Bid-YTW : 5.16 %
ENB.PR.A	Perpetual-Discount	-1.10 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.22 Evaluated at bid price : 22.50 Bid-YTW : 6.19 %
GWO.PR.M	Insurance Straight	-1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.21 Evaluated at bid price : 23.51 Bid-YTW : 6.21 %
TD.PF.D	FixedReset Disc	-1.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.95 Evaluated at bid price : 23.85 Bid-YTW : 5.63 %
NA.PR.S	FixedReset Prem	-1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.85 Evaluated at bid price : 24.00 Bid-YTW : 5.44 %
CM.PR.S	FixedReset Prem	-1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 24.25 Evaluated at bid price : 24.25 Bid-YTW : 5.37 %
PWF.PR.P	FixedReset Disc	-1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 14.35 Evaluated at bid price : 14.35 Bid-YTW : 7.19 %
GWO.PR.G	Insurance Straight	-1.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.28 Evaluated at bid price : 21.28 Bid-YTW : 6.16 %
BMO.PR.E	FixedReset Prem	-1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.42 Evaluated at bid price : 25.40 Bid-YTW : 5.52 %
PWF.PR.K	Perpetual-Discount	1.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.39 Evaluated at bid price : 20.39 Bid-YTW : 6.20 %
POW.PR.D	Perpetual-Discount	1.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 6.09 %
IFC.PR.K	Insurance Straight	1.88 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.99 Evaluated at bid price : 22.27 Bid-YTW : 5.93 %
MFC.PR.B	Insurance Straight	2.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.81 Evaluated at bid price : 19.81 Bid-YTW : 5.93 %
PVS.PR.K	SplitShare	3.95 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 24.50 Bid-YTW : 5.12 %
BN.PF.A	FixedReset Disc	5.48 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.83 Evaluated at bid price : 22.15 Bid-YTW : 6.59 %
PWF.PR.R	Perpetual-Discount	12.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.24 Evaluated at bid price : 22.51 Bid-YTW : 6.23 %
GWO.PR.T	Insurance Straight	18.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.34 %

Volume Highlights
Issue	Index	Shares Traded	Notes
RY.PR.J	FixedReset Disc	43,800	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.79 Evaluated at bid price : 24.05 Bid-YTW : 5.53 %
ENB.PR.B	FixedReset Disc	34,900	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 7.54 %
BMO.PR.Y	FixedReset Disc	26,200	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 23.32 Evaluated at bid price : 24.16 Bid-YTW : 5.45 %
MFC.PR.K	FixedReset Ins Non	25,400	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.15 Evaluated at bid price : 22.62 Bid-YTW : 5.73 %
ENB.PR.F	FixedReset Disc	23,100	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 7.58 %
PVS.PR.L	SplitShare	20,900	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.00 Bid-YTW : 5.64 %
There were 41 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
CU.PR.F	Perpetual-Discount	Quote: 18.97 – 23.88 Spot Rate : 4.9100 Average : 3.4999 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 18.97 Evaluated at bid price : 18.97 Bid-YTW : 6.02 %
POW.PR.B	Perpetual-Discount	Quote: 21.80 – 25.00 Spot Rate : 3.2000 Average : 1.8817 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.54 Evaluated at bid price : 21.80 Bid-YTW : 6.16 %
BN.PR.R	FixedReset Disc	Quote: 15.98 – 18.95 Spot Rate : 2.9700 Average : 1.9246 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 15.98 Evaluated at bid price : 15.98 Bid-YTW : 7.49 %
CU.PR.C	FixedReset Disc	Quote: 19.05 – 22.12 Spot Rate : 3.0700 Average : 2.1344 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 6.71 %
MFC.PR.L	FixedReset Ins Non	Quote: 21.17 – 23.79 Spot Rate : 2.6200 Average : 1.7955 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 21.17 Evaluated at bid price : 21.17 Bid-YTW : 6.01 %
BN.PF.I	FixedReset Disc	Quote: 22.52 – 24.50 Spot Rate : 1.9800 Average : 1.1654 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-07 Maturity Price : 22.22 Evaluated at bid price : 22.52 Bid-YTW : 7.04 %

Market Action

April 4, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	-3.8297 %	2,129.9
FixedFloater	0.00 %	0.00 %	0	0.00	0	-3.8297 %	4,146.1
Floater	7.24 %	7.82 %	63,769	11.61	3	-3.8297 %	2,389.4
OpRet	0.00 %	0.00 %	0	0.00	0	-0.9039 %	3,591.2
SplitShare	4.86 %	5.30 %	75,652	1.80	9	-0.9039 %	4,288.7
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.9039 %	3,346.2
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-3.1019 %	2,856.7
Perpetual-Discount	6.02 %	6.12 %	59,216	13.66	33	-3.1019 %	3,115.1
FixedReset Disc	5.76 %	6.36 %	123,487	13.18	49	-3.7478 %	2,726.0
Insurance Straight	5.95 %	5.99 %	73,496	13.91	21	-3.6606 %	3,041.7
FloatingReset	5.74 %	5.78 %	34,404	14.21	3	-1.6547 %	3,492.7
FixedReset Prem	6.44 %	5.46 %	138,429	14.06	10	-1.4924 %	2,542.5
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-3.7478 %	2,786.5
FixedReset Ins Non	5.65 %	5.66 %	74,240	14.14	12	-3.1081 %	2,787.4

Performance Highlights
Issue	Index	Change	Notes
GWO.PR.T	Insurance Straight	-22.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 7.54 %
PWF.PR.S	Perpetual-Discount	-19.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 16.60 Evaluated at bid price : 16.60 Bid-YTW : 7.40 %
PWF.PR.R	Perpetual-Discount	-14.66 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.97 Evaluated at bid price : 19.97 Bid-YTW : 7.04 %
BN.PF.A	FixedReset Disc	-10.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.82 %
BN.PR.T	FixedReset Disc	-8.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 16.25 Evaluated at bid price : 16.25 Bid-YTW : 7.17 %
PWF.PR.P	FixedReset Disc	-6.45 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 14.50 Evaluated at bid price : 14.50 Bid-YTW : 6.85 %
BN.PF.B	FixedReset Disc	-6.39 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.22 Evaluated at bid price : 20.22 Bid-YTW : 6.69 %
MFC.PR.B	Insurance Straight	-6.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 6.06 %
ENB.PF.E	FixedReset Disc	-5.91 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 17.83 Evaluated at bid price : 17.83 Bid-YTW : 7.21 %
BN.PR.X	FixedReset Disc	-5.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 15.67 Evaluated at bid price : 15.67 Bid-YTW : 6.92 %
ENB.PR.D	FixedReset Disc	-5.68 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.27 Evaluated at bid price : 18.27 Bid-YTW : 6.86 %
BN.PF.E	FixedReset Disc	-5.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.25 Evaluated at bid price : 18.25 Bid-YTW : 6.99 %
ENB.PR.J	FixedReset Disc	-5.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 6.87 %
ENB.PF.C	FixedReset Disc	-5.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.51 Evaluated at bid price : 18.51 Bid-YTW : 7.16 %
BN.PR.B	Floater	-5.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 11.17 Evaluated at bid price : 11.17 Bid-YTW : 7.84 %
BN.PR.R	FixedReset Disc	-5.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 16.72 Evaluated at bid price : 16.72 Bid-YTW : 6.94 %
ENB.PR.F	FixedReset Disc	-5.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.54 Evaluated at bid price : 18.54 Bid-YTW : 6.97 %
CU.PR.C	FixedReset Disc	-5.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.92 Evaluated at bid price : 19.92 Bid-YTW : 6.23 %
IFC.PR.A	FixedReset Ins Non	-5.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 5.67 %
CU.PR.J	Perpetual-Discount	-5.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.98 Evaluated at bid price : 19.98 Bid-YTW : 6.03 %
POW.PR.D	Perpetual-Discount	-5.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.33 Evaluated at bid price : 20.33 Bid-YTW : 6.18 %
BN.PF.F	FixedReset Disc	-5.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 6.59 %
PVS.PR.K	SplitShare	-4.96 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 23.57 Bid-YTW : 6.16 %
PWF.PR.K	Perpetual-Discount	-4.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.15 Evaluated at bid price : 20.15 Bid-YTW : 6.27 %
ENB.PF.G	FixedReset Disc	-4.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.07 Evaluated at bid price : 18.07 Bid-YTW : 7.08 %
ENB.PR.B	FixedReset Disc	-4.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 17.68 Evaluated at bid price : 17.68 Bid-YTW : 7.04 %
BN.PR.N	Perpetual-Discount	-4.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 6.41 %
ENB.PR.H	FixedReset Disc	-4.64 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.74 Evaluated at bid price : 19.74 Bid-YTW : 6.32 %
BN.PF.G	FixedReset Disc	-4.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.01 Evaluated at bid price : 19.01 Bid-YTW : 6.96 %
BN.PR.K	Floater	-4.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 11.19 Evaluated at bid price : 11.19 Bid-YTW : 7.82 %
MFC.PR.Q	FixedReset Ins Non	-4.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.50 Evaluated at bid price : 23.15 Bid-YTW : 5.62 %
GWO.PR.G	Insurance Straight	-4.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.10 %
SLF.PR.G	FixedReset Ins Non	-4.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 16.05 Evaluated at bid price : 16.05 Bid-YTW : 5.99 %
FTS.PR.H	FixedReset Disc	-4.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 15.37 Evaluated at bid price : 15.37 Bid-YTW : 6.36 %
POW.PR.C	Perpetual-Discount	-4.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.23 Evaluated at bid price : 23.53 Bid-YTW : 6.18 %
ENB.PR.P	FixedReset Disc	-4.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.31 Evaluated at bid price : 19.31 Bid-YTW : 6.85 %
ENB.PF.A	FixedReset Disc	-4.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 6.99 %
FTS.PR.K	FixedReset Disc	-4.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.82 %
MFC.PR.L	FixedReset Ins Non	-4.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.35 Evaluated at bid price : 21.65 Bid-YTW : 5.70 %
GWO.PR.R	Insurance Straight	-4.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 6.10 %
ENB.PR.N	FixedReset Disc	-4.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.47 Evaluated at bid price : 21.82 Bid-YTW : 6.36 %
BN.PF.D	Perpetual-Discount	-4.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 6.34 %
MFC.PR.F	FixedReset Ins Non	-4.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 15.55 Evaluated at bid price : 15.55 Bid-YTW : 6.04 %
GWO.PR.H	Insurance Straight	-3.93 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.07 Evaluated at bid price : 20.07 Bid-YTW : 6.09 %
BN.PF.H	FixedReset Disc	-3.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.38 Evaluated at bid price : 24.02 Bid-YTW : 6.82 %
GWO.PR.Q	Insurance Straight	-3.90 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.45 Evaluated at bid price : 21.45 Bid-YTW : 6.05 %
CU.PR.D	Perpetual-Discount	-3.89 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.21 %
ENB.PR.Y	FixedReset Disc	-3.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 6.94 %
BN.PR.Z	FixedReset Disc	-3.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 6.52 %
ENB.PR.T	FixedReset Disc	-3.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 6.70 %
GWO.PR.Y	Insurance Straight	-3.80 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 5.97 %
GWO.PR.S	Insurance Straight	-3.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.67 Evaluated at bid price : 21.92 Bid-YTW : 6.02 %
BIP.PR.A	FixedReset Disc	-3.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.40 Evaluated at bid price : 23.25 Bid-YTW : 6.43 %
BN.PF.C	Perpetual-Discount	-3.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 6.27 %
MFC.PR.J	FixedReset Ins Non	-3.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.86 Evaluated at bid price : 23.75 Bid-YTW : 5.54 %
PWF.PR.E	Perpetual-Discount	-3.42 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.63 Evaluated at bid price : 22.88 Bid-YTW : 6.12 %
POW.PR.A	Perpetual-Discount	-3.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.49 Evaluated at bid price : 22.75 Bid-YTW : 6.17 %
IFC.PR.E	Insurance Straight	-3.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.15 Evaluated at bid price : 22.59 Bid-YTW : 5.78 %
GWO.PR.I	Insurance Straight	-3.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.14 Evaluated at bid price : 19.14 Bid-YTW : 5.92 %
ELF.PR.F	Perpetual-Discount	-3.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 6.24 %
PWF.PF.A	Perpetual-Discount	-3.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 18.77 Evaluated at bid price : 18.77 Bid-YTW : 6.12 %
TD.PF.A	FixedReset Disc	-3.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.67 Evaluated at bid price : 23.71 Bid-YTW : 5.04 %
TD.PF.E	FixedReset Disc	-3.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.07 Evaluated at bid price : 23.80 Bid-YTW : 5.53 %
MFC.PR.I	FixedReset Ins Non	-3.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.08 Evaluated at bid price : 24.03 Bid-YTW : 5.63 %
FTS.PR.M	FixedReset Disc	-3.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 6.12 %
BN.PR.M	Perpetual-Discount	-3.10 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.04 Evaluated at bid price : 19.04 Bid-YTW : 6.29 %
FFH.PR.G	FixedReset Disc	-3.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.05 Evaluated at bid price : 22.65 Bid-YTW : 5.45 %
BIP.PR.B	FixedReset Disc	-3.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.61 Evaluated at bid price : 24.23 Bid-YTW : 7.15 %
IFC.PR.K	Insurance Straight	-3.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.59 Evaluated at bid price : 21.86 Bid-YTW : 6.04 %
GWO.PR.L	Insurance Straight	-2.96 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 6.10 %
IFC.PR.I	Insurance Straight	-2.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.70 Evaluated at bid price : 23.10 Bid-YTW : 5.87 %
GWO.PR.N	FixedReset Ins Non	-2.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 15.40 Evaluated at bid price : 15.40 Bid-YTW : 5.95 %
MFC.PR.C	Insurance Straight	-2.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.71 Evaluated at bid price : 19.71 Bid-YTW : 5.77 %
BIP.PR.F	FixedReset Disc	-2.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.15 Evaluated at bid price : 22.65 Bid-YTW : 6.24 %
TD.PF.D	FixedReset Disc	-2.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.21 Evaluated at bid price : 24.11 Bid-YTW : 5.40 %
SLF.PR.J	FloatingReset	-2.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 16.25 Evaluated at bid price : 16.25 Bid-YTW : 6.14 %
ENB.PF.K	FixedReset Disc	-2.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.78 Evaluated at bid price : 23.58 Bid-YTW : 6.12 %
IFC.PR.G	FixedReset Ins Non	-2.55 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.61 Evaluated at bid price : 23.35 Bid-YTW : 5.56 %
CM.PR.S	FixedReset Prem	-2.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 24.51 Evaluated at bid price : 24.51 Bid-YTW : 5.17 %
FFH.PR.I	FixedReset Disc	-2.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.25 Evaluated at bid price : 23.00 Bid-YTW : 5.64 %
PWF.PR.O	Perpetual-Discount	-2.52 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.72 Evaluated at bid price : 24.03 Bid-YTW : 6.14 %
FTS.PR.F	Perpetual-Discount	-2.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.25 Evaluated at bid price : 21.52 Bid-YTW : 5.75 %
FTS.PR.J	Perpetual-Discount	-2.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.87 %
ENB.PR.A	Perpetual-Discount	-2.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.49 Evaluated at bid price : 22.75 Bid-YTW : 6.12 %
MFC.PR.K	FixedReset Ins Non	-2.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.48 Evaluated at bid price : 23.15 Bid-YTW : 5.44 %
GWO.PR.P	Insurance Straight	-2.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.41 Evaluated at bid price : 22.67 Bid-YTW : 5.99 %
POW.PR.B	Perpetual-Discount	-2.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.07 Evaluated at bid price : 22.30 Bid-YTW : 6.02 %
PWF.PR.L	Perpetual-Discount	-2.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.28 Evaluated at bid price : 21.28 Bid-YTW : 6.12 %
POW.PR.G	Perpetual-Discount	-2.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.82 Evaluated at bid price : 23.10 Bid-YTW : 6.08 %
TD.PF.J	FixedReset Prem	-2.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.30 Evaluated at bid price : 24.80 Bid-YTW : 5.32 %
PWF.PR.T	FixedReset Disc	-2.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.08 Evaluated at bid price : 22.55 Bid-YTW : 5.63 %
BN.PF.J	FixedReset Disc	-2.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.81 Evaluated at bid price : 23.60 Bid-YTW : 6.01 %
FTS.PR.G	FixedReset Disc	-2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.42 Evaluated at bid price : 21.75 Bid-YTW : 5.70 %
PWF.PR.H	Perpetual-Discount	-2.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.56 Evaluated at bid price : 23.83 Bid-YTW : 6.14 %
NA.PR.K	FixedReset Prem	-1.99 %	YTW SCENARIO Maturity Type : Call Maturity Date : 2029-05-01 Maturity Price : 25.00 Evaluated at bid price : 26.61 Bid-YTW : 6.28 %
RY.PR.M	FixedReset Disc	-1.97 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.25 Evaluated at bid price : 23.94 Bid-YTW : 5.21 %
CU.PR.E	Perpetual-Discount	-1.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.45 Evaluated at bid price : 20.45 Bid-YTW : 6.08 %
PWF.PR.Z	Perpetual-Discount	-1.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.46 Evaluated at bid price : 21.46 Bid-YTW : 6.12 %
PWF.PR.G	Perpetual-Discount	-1.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 24.05 Evaluated at bid price : 24.30 Bid-YTW : 6.18 %
ELF.PR.H	Perpetual-Discount	-1.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.33 Evaluated at bid price : 22.60 Bid-YTW : 6.10 %
CM.PR.Q	FixedReset Disc	-1.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.27 Evaluated at bid price : 24.17 Bid-YTW : 5.33 %
PWF.PR.A	Floater	-1.74 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 13.55 Evaluated at bid price : 13.55 Bid-YTW : 6.51 %
PWF.PR.F	Perpetual-Discount	-1.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.78 Evaluated at bid price : 22.02 Bid-YTW : 6.07 %
BMO.PR.E	FixedReset Prem	-1.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.50 Evaluated at bid price : 25.66 Bid-YTW : 5.32 %
BN.PF.I	FixedReset Disc	-1.64 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.73 Evaluated at bid price : 24.05 Bid-YTW : 6.45 %
BMO.PR.Y	FixedReset Disc	-1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.32 Evaluated at bid price : 24.16 Bid-YTW : 5.28 %
PVS.PR.M	SplitShare	-1.59 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2031-03-31 Maturity Price : 25.00 Evaluated at bid price : 24.80 Bid-YTW : 5.41 %
BIP.PR.E	FixedReset Disc	-1.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.58 Evaluated at bid price : 23.23 Bid-YTW : 6.13 %
RY.PR.S	FixedReset Prem	-1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.28 Evaluated at bid price : 25.05 Bid-YTW : 5.02 %
SLF.PR.C	Insurance Straight	-1.52 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 5.59 %
RY.PR.J	FixedReset Disc	-1.49 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.27 Evaluated at bid price : 24.41 Bid-YTW : 5.28 %
NA.PR.E	FixedReset Disc	-1.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.26 Evaluated at bid price : 24.71 Bid-YTW : 5.24 %
NA.PR.S	FixedReset Prem	-1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.11 Evaluated at bid price : 24.65 Bid-YTW : 5.25 %
NA.PR.G	FixedReset Prem	-1.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.50 Evaluated at bid price : 25.65 Bid-YTW : 5.46 %
CCS.PR.C	Insurance Straight	-1.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.44 Evaluated at bid price : 21.70 Bid-YTW : 5.79 %
FFH.PR.J	FloatingReset	-1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.09 Evaluated at bid price : 23.45 Bid-YTW : 5.78 %
NA.PR.C	FixedReset Prem	-1.29 %	YTW SCENARIO Maturity Type : Call Maturity Date : 2027-11-15 Maturity Price : 25.00 Evaluated at bid price : 26.02 Bid-YTW : 5.77 %
FFH.PR.H	FloatingReset	-1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 5.51 %
IFC.PR.C	FixedReset Ins Non	-1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.06 %
RY.PR.N	Perpetual-Discount	-1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 24.02 Evaluated at bid price : 24.27 Bid-YTW : 5.10 %
GWO.PR.M	Insurance Straight	1.58 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.50 Evaluated at bid price : 23.77 Bid-YTW : 6.14 %
CU.PR.F	Perpetual-Discount	14.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.63 Evaluated at bid price : 22.88 Bid-YTW : 4.96 %

Volume Highlights
Issue	Index	Shares Traded	Notes
FFH.PR.J	FloatingReset	125,706	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.09 Evaluated at bid price : 23.45 Bid-YTW : 5.78 %
CM.PR.Q	FixedReset Disc	110,400	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.27 Evaluated at bid price : 24.17 Bid-YTW : 5.33 %
TD.PF.E	FixedReset Disc	82,233	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.07 Evaluated at bid price : 23.80 Bid-YTW : 5.53 %
RY.PR.J	FixedReset Disc	74,360	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.27 Evaluated at bid price : 24.41 Bid-YTW : 5.28 %
TD.PF.D	FixedReset Disc	43,215	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 23.21 Evaluated at bid price : 24.11 Bid-YTW : 5.40 %
PWF.PR.F	Perpetual-Discount	34,300	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.78 Evaluated at bid price : 22.02 Bid-YTW : 6.07 %
There were 57 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
PWF.PR.S	Perpetual-Discount	Quote: 16.60 – 21.75 Spot Rate : 5.1500 Average : 3.1193 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 16.60 Evaluated at bid price : 16.60 Bid-YTW : 7.40 %
GWO.PR.T	Insurance Straight	Quote: 17.25 – 21.95 Spot Rate : 4.7000 Average : 3.0059 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 7.54 %
PWF.PR.R	Perpetual-Discount	Quote: 19.97 – 23.50 Spot Rate : 3.5300 Average : 1.9086 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 19.97 Evaluated at bid price : 19.97 Bid-YTW : 7.04 %
BN.PF.A	FixedReset Disc	Quote: 21.00 – 24.65 Spot Rate : 3.6500 Average : 2.0790 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.82 %
IFC.PR.I	Insurance Straight	Quote: 23.10 – 25.99 Spot Rate : 2.8900 Average : 1.5818 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 22.70 Evaluated at bid price : 23.10 Bid-YTW : 5.87 %
BN.PF.B	FixedReset Disc	Quote: 20.22 – 22.40 Spot Rate : 2.1800 Average : 1.3479 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-04 Maturity Price : 20.22 Evaluated at bid price : 20.22 Bid-YTW : 6.69 %

Market Action

April 3, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	0.2416 %	2,214.7
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.2416 %	4,311.3
Floater	6.96 %	7.40 %	62,924	12.09	3	0.2416 %	2,484.6
OpRet	0.00 %	0.00 %	0	0.00	0	-0.1946 %	3,624.0
SplitShare	4.81 %	4.92 %	72,652	1.81	9	-0.1946 %	4,327.8
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.1946 %	3,376.7
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.3678 %	2,948.1
Perpetual-Discount	5.83 %	5.96 %	54,847	13.94	33	-0.3678 %	3,214.8
FixedReset Disc	5.55 %	6.21 %	121,120	13.26	49	-0.2660 %	2,832.2
Insurance Straight	5.73 %	5.78 %	70,645	14.21	21	-0.9031 %	3,157.2
FloatingReset	5.78 %	5.83 %	32,693	14.15	3	-0.4661 %	3,551.4
FixedReset Prem	6.34 %	5.36 %	134,324	13.85	10	-0.4642 %	2,581.1
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.2660 %	2,895.0
FixedReset Ins Non	5.47 %	5.60 %	70,864	14.14	12	-0.5057 %	2,876.8

Performance Highlights
Issue	Index	Change	Notes
GWO.PR.M	Insurance Straight	-4.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.14 Evaluated at bid price : 23.40 Bid-YTW : 6.23 %
SLF.PR.D	Insurance Straight	-3.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 5.66 %
IFC.PR.C	FixedReset Ins Non	-3.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 6.20 %
PWF.PR.P	FixedReset Disc	-3.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 6.71 %
IFC.PR.K	Insurance Straight	-3.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 22.20 Evaluated at bid price : 22.55 Bid-YTW : 5.85 %
CU.PR.D	Perpetual-Discount	-2.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 20.81 Evaluated at bid price : 20.81 Bid-YTW : 5.97 %
IFC.PR.F	Insurance Straight	-2.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 22.48 Evaluated at bid price : 22.75 Bid-YTW : 5.85 %
CU.PR.H	Perpetual-Discount	-1.94 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 22.55 Evaluated at bid price : 22.80 Bid-YTW : 5.82 %
SLF.PR.E	Insurance Straight	-1.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 5.58 %
PWF.PR.T	FixedReset Disc	-1.58 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 22.37 Evaluated at bid price : 23.03 Bid-YTW : 5.66 %
SLF.PR.C	Insurance Straight	-1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 20.36 Evaluated at bid price : 20.36 Bid-YTW : 5.50 %
ENB.PR.B	FixedReset Disc	-1.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 18.58 Evaluated at bid price : 18.58 Bid-YTW : 6.92 %
ENB.PF.K	FixedReset Disc	-1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.08 Evaluated at bid price : 24.20 Bid-YTW : 6.11 %
MFC.PR.Q	FixedReset Ins Non	-1.10 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.06 Evaluated at bid price : 24.25 Bid-YTW : 5.49 %
BN.PR.X	FixedReset Disc	-1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 16.63 Evaluated at bid price : 16.63 Bid-YTW : 6.77 %
TD.PF.I	FixedReset Prem	-1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.54 Evaluated at bid price : 25.25 Bid-YTW : 5.73 %
PWF.PR.Z	Perpetual-Discount	-1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 21.52 Evaluated at bid price : 21.87 Bid-YTW : 5.98 %
ENB.PR.N	FixedReset Disc	1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 22.22 Evaluated at bid price : 22.75 Bid-YTW : 6.25 %
BN.PF.D	Perpetual-Discount	1.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 20.33 Evaluated at bid price : 20.33 Bid-YTW : 6.07 %
CU.PR.C	FixedReset Disc	1.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.11 %

Volume Highlights
Issue	Index	Shares Traded	Notes
RY.PR.J	FixedReset Disc	253,391	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.75 Evaluated at bid price : 24.78 Bid-YTW : 5.41 %
BN.PF.F	FixedReset Disc	50,174	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 21.66 Evaluated at bid price : 22.00 Bid-YTW : 6.40 %
FFH.PR.H	FloatingReset	43,841	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.27 Evaluated at bid price : 23.60 Bid-YTW : 5.55 %
SLF.PR.G	FixedReset Ins Non	27,300	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 16.80 Evaluated at bid price : 16.80 Bid-YTW : 6.02 %
FFH.PR.J	FloatingReset	26,394	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.46 Evaluated at bid price : 23.76 Bid-YTW : 5.83 %
PVS.PR.K	SplitShare	24,500	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 24.80 Bid-YTW : 4.78 %
There were 6 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
FTS.PR.M	FixedReset Disc	Quote: 21.78 – 24.90 Spot Rate : 3.1200 Average : 1.8026 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 21.49 Evaluated at bid price : 21.78 Bid-YTW : 6.07 %
CU.PR.G	Perpetual-Discount	Quote: 16.00 – 20.20 Spot Rate : 4.2000 Average : 3.3211 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 7.14 %
CU.PR.F	Perpetual-Discount	Quote: 20.02 – 23.88 Spot Rate : 3.8600 Average : 2.9997 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 20.02 Evaluated at bid price : 20.02 Bid-YTW : 5.69 %
CU.PR.H	Perpetual-Discount	Quote: 22.80 – 25.00 Spot Rate : 2.2000 Average : 1.6921 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 22.55 Evaluated at bid price : 22.80 Bid-YTW : 5.82 %
SLF.PR.D	Insurance Straight	Quote: 19.80 – 21.18 Spot Rate : 1.3800 Average : 0.9105 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 5.66 %
GWO.PR.M	Insurance Straight	Quote: 23.40 – 24.75 Spot Rate : 1.3500 Average : 0.9055 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-03 Maturity Price : 23.14 Evaluated at bid price : 23.40 Bid-YTW : 6.23 %

Market Action

April 2, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	0.0806 %	2,209.4
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.0806 %	4,300.9
Floater	6.98 %	7.42 %	63,488	12.07	3	0.0806 %	2,478.6
OpRet	0.00 %	0.00 %	0	0.00	0	0.0620 %	3,631.0
SplitShare	4.80 %	4.52 %	71,132	0.88	9	0.0620 %	4,336.2
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.0620 %	3,383.3
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.4168 %	2,959.0
Perpetual-Discount	5.81 %	5.92 %	54,279	13.98	33	-0.4168 %	3,226.7
FixedReset Disc	5.50 %	6.19 %	120,174	13.22	49	0.3446 %	2,839.7
Insurance Straight	5.68 %	5.72 %	70,885	14.33	21	1.7273 %	3,186.0
FloatingReset	5.75 %	5.82 %	31,783	14.17	3	-0.3098 %	3,568.1
FixedReset Prem	6.31 %	5.34 %	138,873	13.94	10	0.0077 %	2,593.1
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	0.3446 %	2,902.8
FixedReset Ins Non	5.44 %	5.59 %	73,403	14.22	12	0.3709 %	2,891.4

Performance Highlights
Issue	Index	Change	Notes
CU.PR.G	Perpetual-Discount	-20.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 7.14 %
CU.PR.E	Perpetual-Discount	-1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.96 %
TD.PF.I	FixedReset Prem	-1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 23.63 Evaluated at bid price : 25.52 Bid-YTW : 5.66 %
ENB.PR.N	FixedReset Disc	1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 22.06 Evaluated at bid price : 22.50 Bid-YTW : 6.33 %
PWF.PR.P	FixedReset Disc	1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 6.50 %
GWO.PR.H	Insurance Straight	1.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 20.80 Evaluated at bid price : 20.80 Bid-YTW : 5.87 %
BN.PF.F	FixedReset Disc	1.52 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 21.66 Evaluated at bid price : 22.00 Bid-YTW : 6.39 %
GWO.PR.R	Insurance Straight	1.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 20.77 Evaluated at bid price : 20.77 Bid-YTW : 5.82 %
PWF.PR.T	FixedReset Disc	1.74 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 22.58 Evaluated at bid price : 23.40 Bid-YTW : 5.56 %
CU.PR.H	Perpetual-Discount	1.97 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 22.98 Evaluated at bid price : 23.25 Bid-YTW : 5.70 %
ENB.PF.K	FixedReset Disc	2.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 23.21 Evaluated at bid price : 24.50 Bid-YTW : 6.03 %
IFC.PR.F	Insurance Straight	2.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 22.85 Evaluated at bid price : 23.25 Bid-YTW : 5.72 %
IFC.PR.C	FixedReset Ins Non	3.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 21.43 Evaluated at bid price : 21.43 Bid-YTW : 6.01 %
ENB.PR.P	FixedReset Disc	3.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 20.15 Evaluated at bid price : 20.15 Bid-YTW : 6.74 %
GWO.PR.G	Insurance Straight	4.63 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 22.35 Evaluated at bid price : 22.62 Bid-YTW : 5.77 %
GWO.PR.T	Insurance Straight	29.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 21.90 Evaluated at bid price : 22.29 Bid-YTW : 5.80 %

Volume Highlights
Issue	Index	Shares Traded	Notes
FFH.PR.I	FixedReset Disc	80,510	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 23.05 Evaluated at bid price : 23.70 Bid-YTW : 5.68 %
ENB.PF.E	FixedReset Disc	34,691	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 18.95 Evaluated at bid price : 18.95 Bid-YTW : 7.04 %
GWO.PR.N	FixedReset Ins Non	31,500	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 15.85 Evaluated at bid price : 15.85 Bid-YTW : 6.08 %
CM.PR.Q	FixedReset Disc	26,800	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 23.90 Evaluated at bid price : 24.68 Bid-YTW : 5.43 %
BN.PF.H	FixedReset Disc	24,300	YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.01 Bid-YTW : 4.99 %
SLF.PR.J	FloatingReset	23,080	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 16.81 Evaluated at bid price : 16.81 Bid-YTW : 6.10 %
There were 10 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
CU.PR.G	Perpetual-Discount	Quote: 16.00 – 20.26 Spot Rate : 4.2600 Average : 2.3575 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 7.14 %
CU.PR.F	Perpetual-Discount	Quote: 20.11 – 23.88 Spot Rate : 3.7700 Average : 2.0564 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 20.11 Evaluated at bid price : 20.11 Bid-YTW : 5.67 %
CU.PR.H	Perpetual-Discount	Quote: 23.25 – 25.00 Spot Rate : 1.7500 Average : 1.1353 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 22.98 Evaluated at bid price : 23.25 Bid-YTW : 5.70 %
MFC.PR.L	FixedReset Ins Non	Quote: 22.57 – 23.60 Spot Rate : 1.0300 Average : 0.6270 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 22.06 Evaluated at bid price : 22.57 Bid-YTW : 5.62 %
ENB.PF.G	FixedReset Disc	Quote: 19.01 – 19.88 Spot Rate : 0.8700 Average : 0.5522 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 19.01 Evaluated at bid price : 19.01 Bid-YTW : 6.98 %
IFC.PR.C	FixedReset Ins Non	Quote: 21.43 – 22.55 Spot Rate : 1.1200 Average : 0.8920 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-02 Maturity Price : 21.43 Evaluated at bid price : 21.43 Bid-YTW : 6.01 %

Market Action

April 1, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	-0.1074 %	2,207.6
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.1074 %	4,297.4
Floater	6.98 %	7.41 %	63,100	12.08	3	-0.1074 %	2,476.6
OpRet	0.00 %	0.00 %	0	0.00	0	0.2484 %	3,628.8
SplitShare	4.81 %	4.88 %	71,103	0.89	9	0.2484 %	4,333.5
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.2484 %	3,381.2
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	0.0889 %	2,971.4
Perpetual-Discount	5.79 %	5.91 %	55,539	14.01	33	0.0889 %	3,240.2
FixedReset Disc	5.51 %	6.22 %	120,155	13.21	49	0.3845 %	2,830.0
Insurance Straight	5.78 %	5.72 %	71,559	14.34	21	-0.7977 %	3,131.9
FloatingReset	5.73 %	5.78 %	29,435	14.23	3	-0.1672 %	3,579.2
FixedReset Prem	6.31 %	5.36 %	140,114	13.80	10	0.2288 %	2,592.9
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	0.3845 %	2,892.8
FixedReset Ins Non	5.46 %	5.59 %	73,320	14.17	12	-0.2143 %	2,880.8

Performance Highlights
Issue	Index	Change	Notes
GWO.PR.T	Insurance Straight	-15.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 7.53 %
GWO.PR.G	Insurance Straight	-4.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.35 Evaluated at bid price : 21.62 Bid-YTW : 6.04 %
ENB.PR.P	FixedReset Disc	-3.34 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 7.01 %
MFC.PR.M	FixedReset Ins Non	-3.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.82 Evaluated at bid price : 22.24 Bid-YTW : 5.83 %
IFC.PR.C	FixedReset Ins Non	-3.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 6.20 %
IFC.PR.F	Insurance Straight	-2.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 22.48 Evaluated at bid price : 22.75 Bid-YTW : 5.85 %
CU.PR.H	Perpetual-Discount	-2.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 22.55 Evaluated at bid price : 22.80 Bid-YTW : 5.82 %
GWO.PR.H	Insurance Straight	-2.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.53 Evaluated at bid price : 20.53 Bid-YTW : 5.95 %
SLF.PR.J	FloatingReset	-1.64 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 16.81 Evaluated at bid price : 16.81 Bid-YTW : 6.10 %
ENB.PR.N	FixedReset Disc	-1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.88 Evaluated at bid price : 22.25 Bid-YTW : 6.41 %
BN.PF.D	Perpetual-Discount	-1.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.01 Evaluated at bid price : 20.01 Bid-YTW : 6.17 %
ENB.PR.F	FixedReset Disc	1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 6.78 %
FTS.PR.G	FixedReset Disc	1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.96 Evaluated at bid price : 22.33 Bid-YTW : 5.72 %
BMO.PR.E	FixedReset Prem	1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 23.62 Evaluated at bid price : 26.12 Bid-YTW : 5.36 %
GWO.PR.Y	Insurance Straight	1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 5.72 %
ENB.PR.B	FixedReset Disc	1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 18.80 Evaluated at bid price : 18.80 Bid-YTW : 6.84 %
CU.PR.E	Perpetual-Discount	1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 5.88 %
PWF.PR.S	Perpetual-Discount	1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.78 Evaluated at bid price : 20.78 Bid-YTW : 5.89 %
FFH.PR.K	FixedReset Disc	1.22 %	YTW SCENARIO Maturity Type : Call Maturity Date : 2027-03-31 Maturity Price : 25.00 Evaluated at bid price : 24.85 Bid-YTW : 5.41 %
ENB.PR.J	FixedReset Disc	1.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.55 Evaluated at bid price : 20.55 Bid-YTW : 6.69 %
CCS.PR.C	Insurance Straight	1.34 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 5.71 %
FTS.PR.M	FixedReset Disc	1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.48 Evaluated at bid price : 21.77 Bid-YTW : 6.07 %
ENB.PR.H	FixedReset Disc	1.41 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.79 Evaluated at bid price : 20.79 Bid-YTW : 6.18 %
GWO.PR.S	Insurance Straight	1.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 22.49 Evaluated at bid price : 22.75 Bid-YTW : 5.80 %
BN.PF.J	FixedReset Disc	1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 22.97 Evaluated at bid price : 23.92 Bid-YTW : 6.09 %
MFC.PR.B	Insurance Straight	1.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.67 Evaluated at bid price : 20.67 Bid-YTW : 5.68 %
BN.PF.I	FixedReset Disc	1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 23.34 Evaluated at bid price : 24.40 Bid-YTW : 6.49 %
FTS.PR.K	FixedReset Disc	1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 5.79 %
ENB.PF.K	FixedReset Disc	1.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 22.99 Evaluated at bid price : 24.00 Bid-YTW : 6.17 %
CU.PR.G	Perpetual-Discount	2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.10 Evaluated at bid price : 20.10 Bid-YTW : 5.67 %
IFC.PR.A	FixedReset Ins Non	3.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.59 %

Volume Highlights
Issue	Index	Shares Traded	Notes
NA.PR.E	FixedReset Disc	173,153	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 23.42 Evaluated at bid price : 25.18 Bid-YTW : 5.28 %
NA.PR.G	FixedReset Prem	101,145	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 23.62 Evaluated at bid price : 26.12 Bid-YTW : 5.50 %
ENB.PF.A	FixedReset Disc	75,460	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.12 Evaluated at bid price : 20.12 Bid-YTW : 6.83 %
FTS.PR.M	FixedReset Disc	60,326	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.48 Evaluated at bid price : 21.77 Bid-YTW : 6.07 %
ENB.PR.N	FixedReset Disc	55,669	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.88 Evaluated at bid price : 22.25 Bid-YTW : 6.41 %
BN.PR.R	FixedReset Disc	32,201	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 17.66 Evaluated at bid price : 17.66 Bid-YTW : 6.83 %
There were 15 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
GWO.PR.T	Insurance Straight	Quote: 17.25 – 22.77 Spot Rate : 5.5200 Average : 4.3838 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 7.53 %
GWO.PR.G	Insurance Straight	Quote: 21.62 – 23.37 Spot Rate : 1.7500 Average : 1.1949 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 21.35 Evaluated at bid price : 21.62 Bid-YTW : 6.04 %
PVS.PR.M	SplitShare	Quote: 25.16 – 26.16 Spot Rate : 1.0000 Average : 0.5627 YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2031-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.16 Bid-YTW : 5.12 %
PVS.PR.H	SplitShare	Quote: 25.20 – 26.20 Spot Rate : 1.0000 Average : 0.5639 YTW SCENARIO Maturity Type : Call Maturity Date : 2026-02-28 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 4.17 %
PVS.PR.G	SplitShare	Quote: 25.08 – 26.08 Spot Rate : 1.0000 Average : 0.5824 YTW SCENARIO Maturity Type : Option Certainty Maturity Date : 2026-02-28 Maturity Price : 25.00 Evaluated at bid price : 25.08 Bid-YTW : 4.93 %
CU.PR.C	FixedReset Disc	Quote: 20.65 – 22.12 Spot Rate : 1.4700 Average : 1.0639 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-04-01 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 6.22 %

Market Action

March 31, 2025

HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly
Index	Mean Current Yield (at bid)	Median YTW	Median Average Trading Value	Median Mod Dur (YTW)	Issues	Day’s Perf.	Index Value
Ratchet	0.00 %	0.00 %	0	0.00	0	-0.1831 %	2,210.0
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.1831 %	4,302.0
Floater	7.06 %	7.40 %	30,184	12.09	4	-0.1831 %	2,479.3
OpRet	0.00 %	0.00 %	0	0.00	0	0.2268 %	3,619.8
SplitShare	4.82 %	4.95 %	68,596	0.89	9	0.2268 %	4,322.8
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.2268 %	3,372.8
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	0.4092 %	2,968.8
Perpetual-Discount	5.78 %	5.93 %	54,274	13.97	32	0.4092 %	3,237.3
FixedReset Disc	5.54 %	6.27 %	124,104	13.19	49	0.3595 %	2,819.1
Insurance Straight	5.73 %	5.78 %	72,382	14.27	21	1.6710 %	3,157.1
FloatingReset	5.47 %	5.51 %	62,757	14.64	4	0.3804 %	3,585.1
FixedReset Prem	5.79 %	5.29 %	159,781	13.99	10	0.2120 %	2,587.0
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	0.3595 %	2,881.7
FixedReset Ins Non	5.36 %	5.62 %	75,368	14.19	14	0.4669 %	2,886.9

Performance Highlights
Issue	Index	Change	Notes
CU.PR.C	FixedReset Disc	-1.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 6.21 %
CU.PR.E	Perpetual-Discount	-1.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.95 %
GWO.PR.S	Insurance Straight	-1.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 22.14 Evaluated at bid price : 22.42 Bid-YTW : 5.88 %
IFC.PR.E	Insurance Straight	-1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 22.94 Evaluated at bid price : 23.37 Bid-YTW : 5.58 %
BN.PF.C	Perpetual-Discount	1.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 6.05 %
BIP.PR.F	FixedReset Disc	1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 22.49 Evaluated at bid price : 23.23 Bid-YTW : 6.23 %
PWF.PR.R	Perpetual-Discount	1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 23.32 Evaluated at bid price : 23.60 Bid-YTW : 5.92 %
SLF.PR.J	FloatingReset	1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 17.09 Evaluated at bid price : 17.09 Bid-YTW : 6.00 %
PWF.PR.Z	Perpetual-Discount	1.42 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 21.70 Evaluated at bid price : 22.08 Bid-YTW : 5.92 %
IFC.PR.A	FixedReset Ins Non	1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 19.27 Evaluated at bid price : 19.27 Bid-YTW : 5.81 %
IFC.PR.G	FixedReset Ins Non	2.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 22.84 Evaluated at bid price : 23.78 Bid-YTW : 5.62 %
GWO.PR.Y	Insurance Straight	3.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 19.59 Evaluated at bid price : 19.59 Bid-YTW : 5.78 %
GWO.PR.M	Insurance Straight	4.74 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 24.22 Evaluated at bid price : 24.51 Bid-YTW : 5.94 %
SLF.PR.E	Insurance Straight	5.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 20.51 Evaluated at bid price : 20.51 Bid-YTW : 5.52 %
GWO.PR.G	Insurance Straight	7.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 22.28 Evaluated at bid price : 22.55 Bid-YTW : 5.79 %
POW.PR.G	Perpetual-Discount	10.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 23.36 Evaluated at bid price : 23.65 Bid-YTW : 5.93 %
BIP.PR.E	FixedReset Disc	12.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 22.68 Evaluated at bid price : 23.42 Bid-YTW : 6.24 %
GWO.PR.T	Insurance Straight	20.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.33 %

Volume Highlights
Issue	Index	Shares Traded	Notes
TD.PF.E	FixedReset Disc	150,000	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 24.03 Evaluated at bid price : 24.63 Bid-YTW : 5.55 %
BN.PR.R	FixedReset Disc	83,700	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 17.67 Evaluated at bid price : 17.67 Bid-YTW : 6.82 %
ENB.PR.D	FixedReset Disc	56,400	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 6.71 %
IFC.PR.I	Insurance Straight	50,100	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 23.67 Evaluated at bid price : 23.95 Bid-YTW : 5.66 %
RY.PR.J	FixedReset Disc	47,500	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 23.83 Evaluated at bid price : 24.82 Bid-YTW : 5.40 %
MFC.PR.C	Insurance Straight	40,900	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 5.59 %
There were 37 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue	Index	Quote Data and Yield Notes
MFC.PR.M	FixedReset Ins Non	Quote: 23.00 – 25.00 Spot Rate : 2.0000 Average : 1.3458 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 22.29 Evaluated at bid price : 23.00 Bid-YTW : 5.61 %
EIT.PR.B	SplitShare	Quote: 25.11 – 26.11 Spot Rate : 1.0000 Average : 0.5543 YTW SCENARIO Maturity Type : Option Certainty Maturity Date : 2025-04-30 Maturity Price : 25.00 Evaluated at bid price : 25.11 Bid-YTW : 2.00 %
EIT.PR.A	SplitShare	Quote: 25.11 – 26.11 Spot Rate : 1.0000 Average : 0.5596 YTW SCENARIO Maturity Type : Option Certainty Maturity Date : 2025-04-30 Maturity Price : 25.00 Evaluated at bid price : 25.11 Bid-YTW : 2.00 %
TD.PF.D	FixedReset Disc	Quote: 24.71 – 25.71 Spot Rate : 1.0000 Average : 0.5917 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 23.95 Evaluated at bid price : 24.71 Bid-YTW : 5.47 %
PVS.PR.L	SplitShare	Quote: 25.43 – 26.43 Spot Rate : 1.0000 Average : 0.5954 YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.43 Bid-YTW : 5.23 %
GWO.PR.Y	Insurance Straight	Quote: 19.59 – 21.00 Spot Rate : 1.4100 Average : 1.0609 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-03-31 Maturity Price : 19.59 Evaluated at bid price : 19.59 Bid-YTW : 5.78 %

PrefBlog

Category: Market Action

April 11, 2025

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