Category: Market Action

Market Action

March 14, 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 -0.5276 % 2,207.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.5276 % 4,297.6
Floater 7.07 % 7.35 % 29,891 12.19 4 -0.5276 % 2,476.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0312 % 3,607.7
SplitShare 4.83 % 4.90 % 65,702 1.86 9 0.0312 % 4,308.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0312 % 3,361.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1315 % 2,964.1
Perpetual-Discount 5.79 % 5.92 % 56,275 13.96 32 0.1315 % 3,232.2
FixedReset Disc 5.58 % 6.37 % 131,379 13.16 49 -0.4281 % 2,798.7
Insurance Straight 5.73 % 5.77 % 77,538 14.28 21 -0.1832 % 3,157.6
FloatingReset 5.51 % 5.52 % 62,355 14.18 4 6.4597 % 3,563.2
FixedReset Prem 5.81 % 5.48 % 172,561 13.83 10 -0.0393 % 2,579.1
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.4281 % 2,860.8
FixedReset Ins Non 5.41 % 5.72 % 72,995 14.05 14 0.4864 % 2,792.0
Performance Highlights
Issue Index Change Notes
BN.PF.G FixedReset Disc -12.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 17.79
Evaluated at bid price : 17.79
Bid-YTW : 7.79 %
ENB.PR.B FixedReset Disc -4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.40 %
IFC.PR.A FixedReset Ins Non -3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 19.19
Evaluated at bid price : 19.19
Bid-YTW : 5.90 %
GWO.PR.L Insurance Straight -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.94 %
GWO.PR.H Insurance Straight -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.84 %
MFC.PR.Q FixedReset Ins Non 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 22.93
Evaluated at bid price : 23.99
Bid-YTW : 5.61 %
GWO.PR.Y Insurance Straight 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.70 %
BN.PR.X FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 16.71
Evaluated at bid price : 16.71
Bid-YTW : 6.81 %
BN.PR.K Floater 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 11.72
Evaluated at bid price : 11.72
Bid-YTW : 7.43 %
FFH.PR.K FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.31
Evaluated at bid price : 24.35
Bid-YTW : 6.20 %
PWF.PR.R Perpetual-Discount 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.06
Evaluated at bid price : 23.32
Bid-YTW : 5.98 %
MFC.PR.B Insurance Straight 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 20.86
Evaluated at bid price : 20.86
Bid-YTW : 5.61 %
FFH.PR.H FloatingReset 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.39
Evaluated at bid price : 23.70
Bid-YTW : 5.52 %
ENB.PF.K FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 22.91
Evaluated at bid price : 23.85
Bid-YTW : 6.26 %
BN.PF.I FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.58
Evaluated at bid price : 23.90
Bid-YTW : 6.71 %
MFC.PR.J FixedReset Ins Non 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.17
Evaluated at bid price : 24.45
Bid-YTW : 5.57 %
BN.PF.J FixedReset Disc 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 22.86
Evaluated at bid price : 23.70
Bid-YTW : 6.20 %
GWO.PR.R Insurance Straight 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 20.87
Evaluated at bid price : 20.87
Bid-YTW : 5.77 %
PWF.PF.A Perpetual-Discount 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.77 %
BN.PR.M Perpetual-Discount 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.02 %
IFC.PR.K Insurance Straight 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 21.36
Evaluated at bid price : 21.65
Bid-YTW : 6.07 %
ENB.PR.H FixedReset Disc 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.38 %
BN.PR.C Floater 1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 11.85
Evaluated at bid price : 11.85
Bid-YTW : 7.35 %
BN.PR.B Floater 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.38 %
BIP.PR.E FixedReset Disc 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 22.76
Evaluated at bid price : 23.58
Bid-YTW : 6.25 %
IFC.PR.C FixedReset Ins Non 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.19 %
MFC.PR.I FixedReset Ins Non 3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.32
Evaluated at bid price : 24.60
Bid-YTW : 5.70 %
MFC.PR.M FixedReset Ins Non 3.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 21.99
Evaluated at bid price : 22.50
Bid-YTW : 5.80 %
FFH.PR.F FloatingReset 32.17 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-04-30
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 4.58 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CU.PR.J Perpetual-Discount 86,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 5.79 %
GWO.PR.S Insurance Straight 67,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 5.79 %
GWO.PR.T Insurance Straight 52,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 21.86
Evaluated at bid price : 22.25
Bid-YTW : 5.79 %
CU.PR.D Perpetual-Discount 42,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 21.32
Evaluated at bid price : 21.32
Bid-YTW : 5.80 %
TD.PF.A FixedReset Disc 33,732 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.03
Evaluated at bid price : 24.55
Bid-YTW : 5.03 %
TD.PF.J FixedReset Prem 30,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 23.43
Evaluated at bid price : 25.21
Bid-YTW : 5.42 %
There were 7 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
SLF.PR.H FixedReset Ins Non Quote: 12.75 – 21.25
Spot Rate : 8.5000
Average : 7.6682

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 9.14 %
BN.PF.G FixedReset Disc Quote: 17.79 – 20.68
Spot Rate : 2.8900
Average : 2.1302

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 17.79
Evaluated at bid price : 17.79
Bid-YTW : 7.79 %
MFC.PR.F FixedReset Ins Non Quote: 16.24 – 17.35
Spot Rate : 1.1100
Average : 0.6370

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 16.24
Evaluated at bid price : 16.24
Bid-YTW : 6.16 %
ENB.PR.B FixedReset Disc Quote: 17.55 – 18.68
Spot Rate : 1.1300
Average : 0.7745

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.40 %
IFC.PR.A FixedReset Ins Non Quote: 19.19 – 20.19
Spot Rate : 1.0000
Average : 0.6957

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 19.19
Evaluated at bid price : 19.19
Bid-YTW : 5.90 %
IFC.PR.E Insurance Straight Quote: 23.00 – 23.80
Spot Rate : 0.8000
Average : 0.5473

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-14
Maturity Price : 22.67
Evaluated at bid price : 23.00
Bid-YTW : 5.65 %
Market Action

March 13, 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 -0.7652 % 2,219.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.7652 % 4,320.4
Floater 7.03 % 7.48 % 30,327 11.86 4 -0.7652 % 2,489.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.2902 % 3,606.6
SplitShare 4.84 % 4.93 % 68,414 1.86 9 0.2902 % 4,307.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2902 % 3,360.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.2286 % 2,960.2
Perpetual-Discount 5.80 % 5.94 % 56,234 13.93 32 -0.2286 % 3,227.9
FixedReset Disc 5.55 % 6.34 % 136,800 13.18 49 -0.1920 % 2,810.7
Insurance Straight 5.72 % 5.77 % 77,715 14.25 21 -0.4949 % 3,163.4
FloatingReset 5.94 % 5.89 % 62,807 13.92 4 -7.1405 % 3,347.0
FixedReset Prem 5.80 % 5.38 % 172,269 14.05 10 -0.0981 % 2,580.1
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1920 % 2,873.1
FixedReset Ins Non 5.44 % 5.67 % 73,063 14.15 14 -0.5012 % 2,778.4
Performance Highlights
Issue Index Change Notes
FFH.PR.F FloatingReset -24.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.59 %
BN.PR.N Perpetual-Discount -4.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.39 %
MFC.PR.I FixedReset Ins Non -3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 22.95
Evaluated at bid price : 23.80
Bid-YTW : 5.84 %
MFC.PR.M FixedReset Ins Non -3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 21.46
Evaluated at bid price : 21.74
Bid-YTW : 5.94 %
BIP.PR.E FixedReset Disc -2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 22.48
Evaluated at bid price : 23.08
Bid-YTW : 6.31 %
GWO.PR.Y Insurance Straight -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.76 %
BN.PR.X FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 16.82
Evaluated at bid price : 16.82
Bid-YTW : 6.79 %
SLF.PR.C Insurance Straight -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 20.49
Evaluated at bid price : 20.49
Bid-YTW : 5.45 %
IFC.PR.A FixedReset Ins Non -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 20.19
Evaluated at bid price : 20.19
Bid-YTW : 5.62 %
BN.PR.B Floater -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 11.85
Evaluated at bid price : 11.85
Bid-YTW : 7.50 %
BN.PR.C Floater -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 11.87
Evaluated at bid price : 11.87
Bid-YTW : 7.49 %
GWO.PR.I Insurance Straight -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.66 %
POW.PR.D Perpetual-Discount -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 21.51
Evaluated at bid price : 21.51
Bid-YTW : 5.92 %
SLF.PR.D Insurance Straight -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 5.50 %
MFC.PR.B Insurance Straight -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.68 %
PWF.PR.R Perpetual-Discount -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 22.74
Evaluated at bid price : 23.03
Bid-YTW : 6.05 %
BN.PR.R FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.75 %
BN.PR.T FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.74 %
BIP.PR.A FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 23.08
Evaluated at bid price : 24.00
Bid-YTW : 6.39 %
BN.PF.F FixedReset Disc -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 21.35
Evaluated at bid price : 21.65
Bid-YTW : 6.60 %
GWO.PR.L Insurance Straight 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 23.85
Evaluated at bid price : 24.10
Bid-YTW : 5.87 %
ENB.PR.F FixedReset Disc 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 6.92 %
CU.PR.E Perpetual-Discount 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.82 %
PVS.PR.H SplitShare 2.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 24.90
Bid-YTW : 4.98 %
ENB.PR.B FixedReset Disc 4.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 6.97 %
IFC.PR.G FixedReset Ins Non 5.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 22.93
Evaluated at bid price : 24.00
Bid-YTW : 5.64 %
Volume Highlights
Issue Index Shares
Traded		 Notes
FFH.PR.G FixedReset Disc 171,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 23.06
Evaluated at bid price : 23.80
Bid-YTW : 5.40 %
BIP.PR.A FixedReset Disc 60,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 23.08
Evaluated at bid price : 24.00
Bid-YTW : 6.39 %
PWF.PR.Z Perpetual-Discount 50,554 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 21.54
Evaluated at bid price : 21.90
Bid-YTW : 5.95 %
PWF.PR.S Perpetual-Discount 32,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 5.88 %
ENB.PF.E FixedReset Disc 26,353 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.04 %
CU.PR.C FixedReset Disc 21,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.14 %
There were 5 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
FFH.PR.F FloatingReset Quote: 19.00 – 25.31
Spot Rate : 6.3100
Average : 3.3118

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.59 %
SLF.PR.H FixedReset Ins Non Quote: 12.75 – 21.25
Spot Rate : 8.5000
Average : 6.7562

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 8.99 %
CU.PR.F Perpetual-Discount Quote: 19.75 – 23.88
Spot Rate : 4.1300
Average : 2.4378

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 5.75 %
BN.PR.N Perpetual-Discount Quote: 19.00 – 20.40
Spot Rate : 1.4000
Average : 0.8747

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.39 %
BN.PF.E FixedReset Disc Quote: 19.65 – 20.99
Spot Rate : 1.3400
Average : 0.9527

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 6.71 %
TD.PF.J FixedReset Prem Quote: 25.17 – 26.17
Spot Rate : 1.0000
Average : 0.6281

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-13
Maturity Price : 23.42
Evaluated at bid price : 25.17
Bid-YTW : 5.36 %
Market Action

March 12, 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 -0.6601 % 2,236.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.6601 % 4,353.7
Floater 7.33 % 7.76 % 30,222 11.54 4 -0.6601 % 2,509.1
OpRet 0.00 % 0.00 % 0 0.00 0 0.3001 % 3,596.2
SplitShare 4.85 % 5.02 % 66,155 1.86 9 0.3001 % 4,294.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.3001 % 3,350.8
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.3072 % 2,967.0
Perpetual-Discount 5.79 % 5.94 % 55,887 13.93 32 0.3072 % 3,235.3
FixedReset Disc 5.54 % 6.32 % 129,223 13.18 49 -0.3797 % 2,816.1
Insurance Straight 5.69 % 5.76 % 77,816 14.26 21 0.5456 % 3,179.1
FloatingReset 5.52 % 5.61 % 63,710 13.93 4 0.1555 % 3,604.3
FixedReset Prem 5.80 % 5.41 % 170,931 13.87 10 0.0707 % 2,582.6
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.3797 % 2,878.7
FixedReset Ins Non 5.41 % 5.61 % 74,834 14.20 14 -3.1827 % 2,792.4
Performance Highlights
Issue Index Change Notes
SLF.PR.H FixedReset Ins Non -33.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 8.99 %
IFC.PR.G FixedReset Ins Non -6.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 22.24
Evaluated at bid price : 22.74
Bid-YTW : 6.00 %
ENB.PR.B FixedReset Disc -5.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.29 %
IFC.PR.C FixedReset Ins Non -4.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.24 %
ENB.PR.H FixedReset Disc -2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.40 %
ENB.PR.F FixedReset Disc -2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.03 %
FFH.PR.I FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 22.88
Evaluated at bid price : 23.50
Bid-YTW : 5.76 %
BN.PR.K Floater -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 11.95
Evaluated at bid price : 11.95
Bid-YTW : 7.82 %
ENB.PR.N FixedReset Disc -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 21.92
Evaluated at bid price : 22.30
Bid-YTW : 6.35 %
GWO.PR.L Insurance Straight -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.94 %
BN.PR.M Perpetual-Discount -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 19.78
Evaluated at bid price : 19.78
Bid-YTW : 6.14 %
ENB.PR.Y FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 18.49
Evaluated at bid price : 18.49
Bid-YTW : 6.96 %
MFC.PR.J FixedReset Ins Non -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 23.02
Evaluated at bid price : 24.11
Bid-YTW : 5.58 %
BN.PF.E FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.69 %
MFC.PR.B Insurance Straight 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 5.61 %
GWO.PR.T Insurance Straight 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 21.83
Evaluated at bid price : 22.22
Bid-YTW : 5.79 %
POW.PR.D Perpetual-Discount 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 21.54
Evaluated at bid price : 21.80
Bid-YTW : 5.82 %
GWO.PR.I Insurance Straight 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 20.22
Evaluated at bid price : 20.22
Bid-YTW : 5.58 %
ENB.PR.D FixedReset Disc 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.95 %
GWO.PR.S Insurance Straight 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 5.79 %
SLF.PR.C Insurance Straight 1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.35 %
PVS.PR.H SplitShare 1.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 24.25
Bid-YTW : 6.42 %
GWO.PR.Y Insurance Straight 1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 19.96
Evaluated at bid price : 19.96
Bid-YTW : 5.65 %
PWF.PF.A Perpetual-Discount 1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 19.58
Evaluated at bid price : 19.58
Bid-YTW : 5.83 %
PWF.PR.P FixedReset Disc 2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 6.56 %
Volume Highlights
Issue Index Shares
Traded		 Notes
FFH.PR.F FloatingReset 206,780 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.28
Bid-YTW : 3.67 %
CM.PR.Q FixedReset Disc 191,240 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 24.03
Evaluated at bid price : 24.73
Bid-YTW : 5.45 %
CU.PR.I FixedReset Disc 140,055 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 24.75
Bid-YTW : 6.14 %
ENB.PF.E FixedReset Disc 114,235 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 7.05 %
CU.PR.H Perpetual-Discount 83,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 5.82 %
BMO.PR.E FixedReset Prem 61,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 23.53
Evaluated at bid price : 25.80
Bid-YTW : 5.41 %
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
SLF.PR.H FixedReset Ins Non Quote: 12.75 – 21.25
Spot Rate : 8.5000
Average : 4.8441

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 8.99 %
CU.PR.H Perpetual-Discount Quote: 22.70 – 25.00
Spot Rate : 2.3000
Average : 1.3125

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 5.82 %
IFC.PR.G FixedReset Ins Non Quote: 22.74 – 24.30
Spot Rate : 1.5600
Average : 0.9950

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 22.24
Evaluated at bid price : 22.74
Bid-YTW : 6.00 %
ENB.PR.B FixedReset Disc Quote: 17.55 – 18.57
Spot Rate : 1.0200
Average : 0.7078

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.29 %
ENB.PR.F FixedReset Disc Quote: 18.80 – 19.65
Spot Rate : 0.8500
Average : 0.6163

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.03 %
BN.PF.G FixedReset Disc Quote: 20.50 – 21.85
Spot Rate : 1.3500
Average : 1.1406

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-12
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.72 %
Market Action

March 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 1.9164 % 2,251.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.9164 % 4,382.7
Floater 7.28 % 7.71 % 31,292 11.60 4 1.9164 % 2,525.8
OpRet 0.00 % 0.00 % 0 0.00 0 -0.4370 % 3,585.4
SplitShare 4.86 % 5.11 % 68,894 1.85 9 -0.4370 % 4,281.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.4370 % 3,340.8
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.0962 % 2,957.9
Perpetual-Discount 5.81 % 5.95 % 56,165 13.93 32 -0.0962 % 3,225.4
FixedReset Disc 5.52 % 6.24 % 123,452 13.26 49 0.3849 % 2,826.9
Insurance Straight 5.73 % 5.80 % 79,861 14.27 21 0.0590 % 3,161.9
FloatingReset 5.52 % 5.63 % 64,523 13.91 4 0.0556 % 3,598.7
FixedReset Prem 5.80 % 5.42 % 169,572 13.86 10 -0.0746 % 2,580.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3849 % 2,889.6
FixedReset Ins Non 5.24 % 5.58 % 72,883 14.23 14 0.8063 % 2,884.2
Performance Highlights
Issue Index Change Notes
PWF.PR.P FixedReset Disc -4.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 15.31
Evaluated at bid price : 15.31
Bid-YTW : 6.75 %
PVS.PR.H SplitShare -4.22 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 23.85
Bid-YTW : 7.32 %
PWF.PF.A Perpetual-Discount -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 5.95 %
BN.PF.E FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.76 %
SLF.PR.C Insurance Straight -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.44 %
FFH.PR.K FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 23.33
Evaluated at bid price : 24.40
Bid-YTW : 6.20 %
SLF.PR.D Insurance Straight -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 5.46 %
SLF.PR.E Insurance Straight -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 5.45 %
PWF.PR.A Floater -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 13.66
Evaluated at bid price : 13.66
Bid-YTW : 6.75 %
BN.PR.K Floater 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 12.12
Evaluated at bid price : 12.12
Bid-YTW : 7.71 %
MFC.PR.L FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 22.16
Evaluated at bid price : 22.73
Bid-YTW : 5.54 %
CU.PR.G Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.76 %
NA.PR.E FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 23.28
Evaluated at bid price : 24.81
Bid-YTW : 5.35 %
BIP.PR.A FixedReset Disc 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 23.40
Evaluated at bid price : 24.30
Bid-YTW : 6.31 %
BIP.PR.F FixedReset Disc 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 22.73
Evaluated at bid price : 23.69
Bid-YTW : 6.06 %
IFC.PR.A FixedReset Ins Non 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 5.54 %
BN.PR.M Perpetual-Discount 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.07 %
FTS.PR.K FixedReset Disc 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 5.95 %
MFC.PR.M FixedReset Ins Non 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 22.02
Evaluated at bid price : 22.55
Bid-YTW : 5.71 %
ENB.PR.F FixedReset Disc 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.88 %
ENB.PR.B FixedReset Disc 2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 18.59
Evaluated at bid price : 18.59
Bid-YTW : 6.87 %
BN.PF.F FixedReset Disc 3.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 21.66
Evaluated at bid price : 22.00
Bid-YTW : 6.49 %
MFC.PR.I FixedReset Ins Non 4.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 23.38
Evaluated at bid price : 24.76
Bid-YTW : 5.58 %
CCS.PR.C Insurance Straight 4.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 21.44
Evaluated at bid price : 21.70
Bid-YTW : 5.76 %
SLF.PR.G FixedReset Ins Non 4.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 6.01 %
ENB.PR.P FixedReset Disc 4.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 6.71 %
ENB.PR.H FixedReset Disc 5.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.53
Evaluated at bid price : 20.53
Bid-YTW : 6.22 %
ENB.PR.D FixedReset Disc 5.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.05 %
BN.PR.B Floater 8.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 12.11
Evaluated at bid price : 12.11
Bid-YTW : 7.71 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.D FixedReset Disc 531,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 24.00
Evaluated at bid price : 24.71
Bid-YTW : 5.45 %
GWO.PR.S Insurance Straight 130,240 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 22.09
Evaluated at bid price : 22.37
Bid-YTW : 5.87 %
ENB.PR.T FixedReset Disc 78,418 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 6.62 %
CM.PR.Q FixedReset Disc 78,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 24.07
Evaluated at bid price : 24.76
Bid-YTW : 5.44 %
PVS.PR.M SplitShare 48,092 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2031-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.10
Bid-YTW : 5.11 %
PWF.PR.F Perpetual-Discount 45,781 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 22.06
Evaluated at bid price : 22.35
Bid-YTW : 5.95 %
There were 16 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
PVS.PR.H SplitShare Quote: 23.85 – 24.85
Spot Rate : 1.0000
Average : 0.5674

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 23.85
Bid-YTW : 7.32 %
PWF.PR.S Perpetual-Discount Quote: 20.55 – 21.75
Spot Rate : 1.2000
Average : 0.8392

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.93 %
GWO.PR.S Insurance Straight Quote: 22.37 – 23.37
Spot Rate : 1.0000
Average : 0.6898

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 22.09
Evaluated at bid price : 22.37
Bid-YTW : 5.87 %
PWF.PR.P FixedReset Disc Quote: 15.31 – 16.31
Spot Rate : 1.0000
Average : 0.7586

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 15.31
Evaluated at bid price : 15.31
Bid-YTW : 6.75 %
PWF.PF.A Perpetual-Discount Quote: 19.20 – 19.89
Spot Rate : 0.6900
Average : 0.5223

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 5.95 %
SLF.PR.H FixedReset Ins Non Quote: 19.20 – 20.20
Spot Rate : 1.0000
Average : 0.8357

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-11
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.03 %
Market Action

March 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 -2.7172 % 2,209.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 -2.7172 % 4,300.3
Floater 7.42 % 7.75 % 31,509 11.55 4 -2.7172 % 2,478.3
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0579 % 3,601.2
SplitShare 4.84 % 4.96 % 68,948 1.87 9 -0.0579 % 4,300.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0579 % 3,355.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1331 % 2,960.7
Perpetual-Discount 5.80 % 5.93 % 55,634 13.94 32 0.1331 % 3,228.5
FixedReset Disc 5.54 % 6.23 % 117,999 13.24 49 -0.7501 % 2,816.0
Insurance Straight 5.73 % 5.80 % 79,463 14.20 21 -0.0415 % 3,160.0
FloatingReset 5.53 % 5.64 % 64,279 13.91 4 -0.7061 % 3,596.7
FixedReset Prem 5.80 % 5.36 % 166,449 13.85 10 -0.1411 % 2,582.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.7501 % 2,878.6
FixedReset Ins Non 5.28 % 5.61 % 73,482 14.24 14 -0.8530 % 2,861.2
Performance Highlights
Issue Index Change Notes
ENB.PR.D FixedReset Disc -9.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 7.46 %
BN.PR.B Floater -8.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 8.35 %
SLF.PR.G FixedReset Ins Non -4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 6.27 %
ENB.PR.P FixedReset Disc -4.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 7.02 %
SLF.PR.H FixedReset Ins Non -4.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.01 %
CCS.PR.C Insurance Straight -3.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.03 %
BN.PF.F FixedReset Disc -2.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.71 %
ENB.PR.F FixedReset Disc -2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.01 %
BN.PF.G FixedReset Disc -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.72 %
FTS.PR.K FixedReset Disc -2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 6.03 %
FTS.PR.F Perpetual-Discount -2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.73
Evaluated at bid price : 21.98
Bid-YTW : 5.61 %
ENB.PR.B FixedReset Disc -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.02 %
PWF.PR.T FixedReset Disc -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 22.05
Evaluated at bid price : 22.51
Bid-YTW : 5.77 %
IFC.PR.A FixedReset Ins Non -2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.19
Evaluated at bid price : 20.19
Bid-YTW : 5.61 %
BN.PR.C Floater -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 12.05
Evaluated at bid price : 12.05
Bid-YTW : 7.75 %
NA.PR.E FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 23.19
Evaluated at bid price : 24.55
Bid-YTW : 5.41 %
FFH.PR.H FloatingReset -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 23.58
Evaluated at bid price : 23.85
Bid-YTW : 5.64 %
BN.PF.E FixedReset Disc -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.64 %
BN.PR.K Floater -1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 7.78 %
FTS.PR.H FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 15.69
Evaluated at bid price : 15.69
Bid-YTW : 6.50 %
BN.PR.X FixedReset Disc -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 17.21
Evaluated at bid price : 17.21
Bid-YTW : 6.63 %
CU.PR.G Perpetual-Discount -1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.82 %
GWO.PR.Y Insurance Straight -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.76 %
BIP.PR.E FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 22.82
Evaluated at bid price : 23.70
Bid-YTW : 6.13 %
IFC.PR.C FixedReset Ins Non -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.39
Evaluated at bid price : 21.70
Bid-YTW : 5.95 %
ELF.PR.H Perpetual-Discount -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 22.68
Evaluated at bid price : 22.92
Bid-YTW : 6.10 %
GWO.PR.T Insurance Straight -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.55
Evaluated at bid price : 21.90
Bid-YTW : 5.88 %
BN.PR.M Perpetual-Discount -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 6.15 %
MFC.PR.L FixedReset Ins Non -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 22.01
Evaluated at bid price : 22.50
Bid-YTW : 5.61 %
ENB.PR.Y FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.88 %
MFC.PR.M FixedReset Ins Non 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.80
Evaluated at bid price : 22.22
Bid-YTW : 5.80 %
SLF.PR.E Insurance Straight 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.92
Evaluated at bid price : 20.92
Bid-YTW : 5.39 %
BN.PF.B FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.91
Evaluated at bid price : 22.32
Bid-YTW : 6.28 %
MFC.PR.C Insurance Straight 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.46
Evaluated at bid price : 20.46
Bid-YTW : 5.53 %
PWF.PR.P FixedReset Disc 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 6.46 %
CU.PR.C FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.13 %
SLF.PR.D Insurance Straight 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.67
Evaluated at bid price : 20.67
Bid-YTW : 5.40 %
SLF.PR.C Insurance Straight 1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 20.86
Evaluated at bid price : 20.86
Bid-YTW : 5.35 %
BIP.PR.F FixedReset Disc 1.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 22.58
Evaluated at bid price : 23.40
Bid-YTW : 6.14 %
CU.PR.D Perpetual-Discount 1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.82 %
PWF.PR.Z Perpetual-Discount 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.60
Evaluated at bid price : 21.97
Bid-YTW : 5.93 %
PWF.PR.R Perpetual-Discount 3.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 23.04
Evaluated at bid price : 23.31
Bid-YTW : 5.97 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.E FixedReset Disc 89,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 23.19
Evaluated at bid price : 24.55
Bid-YTW : 5.41 %
CM.PR.Q FixedReset Disc 80,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 24.03
Evaluated at bid price : 24.73
Bid-YTW : 5.44 %
PVS.PR.M SplitShare 77,900 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2031-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.06
Bid-YTW : 5.14 %
FFH.PR.I FixedReset Disc 70,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 23.18
Evaluated at bid price : 23.80
Bid-YTW : 5.69 %
ENB.PR.T FixedReset Disc 55,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.57 %
BMO.PR.E FixedReset Prem 45,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 23.58
Evaluated at bid price : 26.00
Bid-YTW : 5.36 %
There were 4 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.PR.D FixedReset Disc Quote: 17.25 – 19.09
Spot Rate : 1.8400
Average : 1.0736

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 7.46 %
TD.PF.J FixedReset Prem Quote: 25.20 – 26.20
Spot Rate : 1.0000
Average : 0.5801

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 23.43
Evaluated at bid price : 25.20
Bid-YTW : 5.35 %
BN.PR.B Floater Quote: 11.20 – 12.20
Spot Rate : 1.0000
Average : 0.5858

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 11.20
Evaluated at bid price : 11.20
Bid-YTW : 8.35 %
ENB.PR.P FixedReset Disc Quote: 19.24 – 20.24
Spot Rate : 1.0000
Average : 0.6167

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 7.02 %
IFC.PR.K Insurance Straight Quote: 21.65 – 24.01
Spot Rate : 2.3600
Average : 1.9834

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 21.36
Evaluated at bid price : 21.65
Bid-YTW : 6.18 %
SLF.PR.H FixedReset Ins Non Quote: 19.25 – 20.25
Spot Rate : 1.0000
Average : 0.6556

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-10
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.01 %
Market Action

March 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 0.1589 % 2,270.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1589 % 4,420.4
Floater 7.22 % 7.58 % 31,638 11.75 4 0.1589 % 2,547.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.2547 % 3,603.3
SplitShare 4.84 % 4.96 % 68,196 1.88 9 0.2547 % 4,303.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2547 % 3,357.4
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.2035 % 2,956.8
Perpetual-Discount 5.81 % 5.96 % 57,734 13.93 32 -0.2035 % 3,224.2
FixedReset Disc 5.50 % 6.27 % 119,558 13.28 49 0.4118 % 2,837.3
Insurance Straight 5.73 % 5.80 % 79,677 14.22 21 0.4781 % 3,161.3
FloatingReset 5.63 % 5.67 % 64,705 13.73 4 0.0662 % 3,622.3
FixedReset Prem 5.79 % 5.28 % 168,113 13.88 10 -0.0783 % 2,586.4
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4118 % 2,900.3
FixedReset Ins Non 5.24 % 5.61 % 72,625 14.25 14 -0.0067 % 2,885.8
Performance Highlights
Issue Index Change Notes
IFC.PR.K Insurance Straight -7.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.36
Evaluated at bid price : 21.65
Bid-YTW : 6.17 %
PWF.PR.R Perpetual-Discount -3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 22.24
Evaluated at bid price : 22.51
Bid-YTW : 6.19 %
MFC.PR.I FixedReset Ins Non -3.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 22.95
Evaluated at bid price : 23.80
Bid-YTW : 5.83 %
PWF.PR.Z Perpetual-Discount -2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.46
Evaluated at bid price : 21.46
Bid-YTW : 6.09 %
PWF.PR.E Perpetual-Discount -2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 23.03
Evaluated at bid price : 23.30
Bid-YTW : 5.97 %
CM.PR.S FixedReset Prem -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 25.07
Evaluated at bid price : 25.07
Bid-YTW : 5.28 %
BN.PF.B FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.73
Evaluated at bid price : 22.07
Bid-YTW : 6.35 %
POW.PR.A Perpetual-Discount -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.97 %
GWO.PR.L Insurance Straight 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 23.74
Evaluated at bid price : 24.05
Bid-YTW : 5.87 %
PVS.PR.J SplitShare 1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 24.60
Bid-YTW : 5.01 %
GWO.PR.H Insurance Straight 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.07
Evaluated at bid price : 21.07
Bid-YTW : 5.77 %
GWO.PR.Q Insurance Straight 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.90
Evaluated at bid price : 22.14
Bid-YTW : 5.82 %
MFC.PR.B Insurance Straight 1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 20.74
Evaluated at bid price : 20.74
Bid-YTW : 5.63 %
PWF.PR.L Perpetual-Discount 2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.47
Evaluated at bid price : 21.73
Bid-YTW : 5.94 %
IFC.PR.C FixedReset Ins Non 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.60
Evaluated at bid price : 22.00
Bid-YTW : 5.86 %
GWO.PR.G Insurance Straight 2.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 22.08
Evaluated at bid price : 22.31
Bid-YTW : 5.83 %
SLF.PR.D Insurance Straight 2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 20.37
Evaluated at bid price : 20.37
Bid-YTW : 5.47 %
GWO.PR.I Insurance Straight 2.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 19.99
Evaluated at bid price : 19.99
Bid-YTW : 5.64 %
PWF.PR.P FixedReset Disc 3.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 6.54 %
ENB.PR.B FixedReset Disc 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 6.86 %
CCS.PR.C Insurance Straight 3.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.83 %
BN.PF.G FixedReset Disc 16.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.56 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PVS.PR.M SplitShare 135,722 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2031-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.11
Bid-YTW : 5.09 %
FFH.PR.F FloatingReset 95,200 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.29
Bid-YTW : 3.34 %
CU.PR.I FixedReset Disc 78,260 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 24.70
Bid-YTW : 6.31 %
ENB.PF.C FixedReset Disc 62,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 19.61
Evaluated at bid price : 19.61
Bid-YTW : 6.87 %
PVS.PR.G SplitShare 45,010 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-04-06
Maturity Price : 25.00
Evaluated at bid price : 25.01
Bid-YTW : 4.45 %
ENB.PR.J FixedReset Disc 21,334 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 6.62 %
There were 12 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
CU.PR.F Perpetual-Discount Quote: 19.63 – 23.88
Spot Rate : 4.2500
Average : 3.1088

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 19.63
Evaluated at bid price : 19.63
Bid-YTW : 5.78 %
IFC.PR.K Insurance Straight Quote: 21.65 – 24.01
Spot Rate : 2.3600
Average : 1.5704

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 21.36
Evaluated at bid price : 21.65
Bid-YTW : 6.17 %
MFC.PR.I FixedReset Ins Non Quote: 23.80 – 24.95
Spot Rate : 1.1500
Average : 0.7147

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 22.95
Evaluated at bid price : 23.80
Bid-YTW : 5.83 %
PWF.PR.R Perpetual-Discount Quote: 22.51 – 23.51
Spot Rate : 1.0000
Average : 0.5790

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 22.24
Evaluated at bid price : 22.51
Bid-YTW : 6.19 %
GWO.PR.S Insurance Straight Quote: 22.35 – 23.37
Spot Rate : 1.0200
Average : 0.6126

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 22.06
Evaluated at bid price : 22.35
Bid-YTW : 5.87 %
PWF.PR.E Perpetual-Discount Quote: 23.30 – 24.13
Spot Rate : 0.8300
Average : 0.4978

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-07
Maturity Price : 23.03
Evaluated at bid price : 23.30
Bid-YTW : 5.97 %
Market Action

March 6, 2025

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading
Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -0.2180 % 2,267.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2180 % 4,413.4
Floater 7.23 % 7.61 % 30,955 11.72 4 -0.2180 % 2,543.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.0134 % 3,594.1
SplitShare 4.85 % 5.17 % 63,337 1.88 9 0.0134 % 4,292.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0134 % 3,348.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0057 % 2,962.8
Perpetual-Discount 5.80 % 5.92 % 57,180 13.95 32 0.0057 % 3,230.8
FixedReset Disc 5.52 % 6.26 % 120,995 13.18 49 -0.5726 % 2,825.7
Insurance Straight 5.75 % 5.81 % 77,757 14.22 21 -0.2166 % 3,146.3
FloatingReset 5.64 % 5.69 % 59,767 13.74 4 -0.5490 % 3,619.9
FixedReset Prem 5.78 % 5.35 % 164,595 13.87 10 -0.0743 % 2,588.4
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.5726 % 2,888.4
FixedReset Ins Non 5.24 % 5.61 % 71,999 14.25 14 0.1809 % 2,886.0
Performance Highlights
Issue Index Change Notes
BN.PF.G FixedReset Disc -14.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.66 %
ENB.PR.H FixedReset Disc -4.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.56 %
CCS.PR.C Insurance Straight -3.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.02 %
MFC.PR.M FixedReset Ins Non -3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 21.49
Evaluated at bid price : 21.79
Bid-YTW : 5.92 %
CU.PR.C FixedReset Disc -2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.22 %
ENB.PR.B FixedReset Disc -2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.09 %
PWF.PR.L Perpetual-Discount -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.09 %
CU.PR.D Perpetual-Discount -1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 20.86
Evaluated at bid price : 20.86
Bid-YTW : 5.92 %
SLF.PR.D Insurance Straight -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.63 %
GWO.PR.G Insurance Straight -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 21.49
Evaluated at bid price : 21.75
Bid-YTW : 5.98 %
BN.PR.Z FixedReset Disc -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 22.17
Evaluated at bid price : 22.56
Bid-YTW : 6.42 %
POW.PR.G Perpetual-Discount -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.36
Evaluated at bid price : 23.65
Bid-YTW : 6.01 %
FFH.PR.J FloatingReset -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.73
Evaluated at bid price : 24.10
Bid-YTW : 6.03 %
CU.PR.F Perpetual-Discount -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.79 %
GWO.PR.L Insurance Straight -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.93 %
POW.PR.C Perpetual-Discount 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 24.35
Evaluated at bid price : 24.66
Bid-YTW : 5.97 %
IFC.PR.K Insurance Straight 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.01
Evaluated at bid price : 23.36
Bid-YTW : 5.71 %
CU.PR.G Perpetual-Discount 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 19.69
Evaluated at bid price : 19.69
Bid-YTW : 5.76 %
PWF.PR.S Perpetual-Discount 2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 5.92 %
SLF.PR.G FixedReset Ins Non 10.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 16.95
Evaluated at bid price : 16.95
Bid-YTW : 5.92 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PVS.PR.M SplitShare 211,520 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2031-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 5.17 %
RY.PR.M FixedReset Disc 65,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.82
Evaluated at bid price : 24.41
Bid-YTW : 5.28 %
TD.PF.I FixedReset Prem 35,788 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.70
Bid-YTW : 5.45 %
IFC.PR.E Insurance Straight 33,297 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.45
Evaluated at bid price : 23.71
Bid-YTW : 5.57 %
ENB.PF.E FixedReset Disc 30,759 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 18.89
Evaluated at bid price : 18.89
Bid-YTW : 7.01 %
BMO.PR.Y FixedReset Disc 30,125 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.93
Evaluated at bid price : 24.61
Bid-YTW : 5.36 %
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
BN.PF.G FixedReset Disc Quote: 18.00 – 21.10
Spot Rate : 3.1000
Average : 1.7566

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.66 %
ENB.PR.H FixedReset Disc Quote: 19.51 – 20.69
Spot Rate : 1.1800
Average : 0.7568

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.56 %
MFC.PR.M FixedReset Ins Non Quote: 21.79 – 22.79
Spot Rate : 1.0000
Average : 0.6703

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 21.49
Evaluated at bid price : 21.79
Bid-YTW : 5.92 %
BIP.PR.A FixedReset Disc Quote: 24.16 – 25.00
Spot Rate : 0.8400
Average : 0.5631

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 23.26
Evaluated at bid price : 24.16
Bid-YTW : 6.34 %
CCS.PR.C Insurance Straight Quote: 20.80 – 22.25
Spot Rate : 1.4500
Average : 1.1878

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.02 %
CU.PR.C FixedReset Disc Quote: 20.50 – 21.35
Spot Rate : 0.8500
Average : 0.6476

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-06
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.22 %
Market Action

January 15, 2025

The US inflation numbers had something for everyone!

Consumer prices rose more quickly in December, the latest sign that the Federal Reserve’s fight against inflation may have stalled.

The Consumer Price Index rose 0.4 percent from November, and was up 2.9 percent from a year earlier, the Labor Department said on Wednesday. It was the fastest one-month increase in overall prices since February, driven in part by another sharp rise in the price of eggs and other groceries.

The “core” measure of inflation, which strips out volatile food and fuel prices to give a better sense of the underlying trend, was more encouraging: The index rose 3.2 percent from a year earlier after three straight months of 3.3 percent gains. Forecasters had not expected core inflation to slow.
…
Inflation in housing — by far the biggest monthly expense for most families, and one of the most stubborn categories of consumer prices — has finally begun to ease: Shelter prices were up 4.6 percent in December from a year earlier, the smallest 12-month increase in nearly three years.

PerpetualDiscounts now yield 6.03%, equivalent to 7.84% interest at the standard equivalency factor of 1.3x. Long corporates yielded 4.62% on 2025-1-14 and since then the closing price of ZLC changed from 15.02 to 15.19, a total return of +1.13%, implying a decrease in yields (assuming that the “Duration” of 12.66 reported by BMO is Modified Duration) of about 9bp to 4.53%. Therefore, the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened slightly (and perhaps spuriously) to 330bp from the 325bp reported January 8.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading
Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.4729 % 2,330.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4729 % 4,470.3
Floater 7.48 % 7.76 % 32,682 11.65 4 0.4729 % 2,576.3
OpRet 0.00 % 0.00 % 0 0.00 0 0.0149 % 3,638.3
SplitShare 4.76 % 4.49 % 46,468 0.16 8 0.0149 % 4,344.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0149 % 3,390.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.3314 % 2,902.4
Perpetual-Discount 5.92 % 6.03 % 58,809 13.88 32 0.3314 % 3,164.9
FixedReset Disc 5.33 % 6.64 % 98,696 12.84 50 0.4954 % 2,855.4
Insurance Straight 5.89 % 5.98 % 66,505 13.94 21 0.6707 % 3,076.0
FloatingReset 6.27 % 6.41 % 40,110 13.28 3 -0.2882 % 3,425.1
FixedReset Prem 5.69 % 5.50 % 162,890 3.36 12 0.2203 % 2,588.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4954 % 2,918.8
FixedReset Ins Non 5.12 % 6.06 % 74,361 13.70 14 0.6158 % 2,949.3
Performance Highlights
Issue Index Change Notes
CCS.PR.C Insurance Straight -4.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.02 %
GWO.PR.Q Insurance Straight -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.30 %
PWF.PR.Z Perpetual-Discount -3.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 6.34 %
IFC.PR.F Insurance Straight -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.67
Evaluated at bid price : 22.10
Bid-YTW : 6.04 %
GWO.PR.L Insurance Straight -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 6.06 %
SLF.PR.G FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 17.83
Evaluated at bid price : 17.83
Bid-YTW : 6.37 %
PWF.PR.K Perpetual-Discount 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.04 %
FTS.PR.H FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.77 %
BN.PR.B Floater 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 12.45
Evaluated at bid price : 12.45
Bid-YTW : 7.76 %
POW.PR.C Perpetual-Discount 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 24.05
Evaluated at bid price : 24.30
Bid-YTW : 6.00 %
ENB.PF.G FixedReset Disc 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 7.42 %
BN.PF.E FixedReset Disc 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.79 %
MFC.PR.L FixedReset Ins Non 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 22.36
Evaluated at bid price : 23.08
Bid-YTW : 5.95 %
ENB.PR.H FixedReset Disc 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.86
Evaluated at bid price : 20.86
Bid-YTW : 6.72 %
CU.PR.H Perpetual-Discount 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.91 %
MFC.PR.F FixedReset Ins Non 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.20 %
ENB.PR.D FixedReset Disc 1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 19.36
Evaluated at bid price : 19.36
Bid-YTW : 7.26 %
BIP.PR.A FixedReset Disc 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 23.80
Evaluated at bid price : 24.52
Bid-YTW : 6.81 %
IFC.PR.E Insurance Straight 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 22.04
Evaluated at bid price : 22.50
Bid-YTW : 5.81 %
FTS.PR.K FixedReset Disc 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.06
Evaluated at bid price : 21.06
Bid-YTW : 6.40 %
CU.PR.E Perpetual-Discount 2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.93 %
BN.PR.X FixedReset Disc 2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 17.67
Evaluated at bid price : 17.67
Bid-YTW : 7.03 %
FTS.PR.J Perpetual-Discount 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.11
Evaluated at bid price : 21.11
Bid-YTW : 5.71 %
MFC.PR.B Insurance Straight 3.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.78 %
IFC.PR.C FixedReset Ins Non 3.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.67
Evaluated at bid price : 22.10
Bid-YTW : 6.32 %
BN.PR.T FixedReset Disc 7.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 18.73
Evaluated at bid price : 18.73
Bid-YTW : 7.05 %
SLF.PR.D Insurance Straight 22.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 19.84
Evaluated at bid price : 19.84
Bid-YTW : 5.66 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.W FixedReset Prem 306,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-02-15
Maturity Price : 25.00
Evaluated at bid price : 24.92
Bid-YTW : 3.81 %
CU.PR.J Perpetual-Discount 79,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.06
Evaluated at bid price : 20.06
Bid-YTW : 6.02 %
GWO.PR.I Insurance Straight 61,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 19.36
Evaluated at bid price : 19.36
Bid-YTW : 5.87 %
MFC.PR.L FixedReset Ins Non 59,781 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 22.36
Evaluated at bid price : 23.08
Bid-YTW : 5.95 %
GWO.PR.N FixedReset Ins Non 54,850 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 16.68
Evaluated at bid price : 16.68
Bid-YTW : 6.49 %
FTS.PR.M FixedReset Disc 50,084 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.37
Evaluated at bid price : 21.37
Bid-YTW : 6.68 %
There were 17 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BN.PF.G FixedReset Disc Quote: 21.70 – 24.60
Spot Rate : 2.9000
Average : 1.5889

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.41
Evaluated at bid price : 21.70
Bid-YTW : 6.88 %
CU.PR.H Perpetual-Discount Quote: 22.50 – 24.96
Spot Rate : 2.4600
Average : 1.7444

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.91 %
SLF.PR.E Insurance Straight Quote: 19.00 – 20.71
Spot Rate : 1.7100
Average : 1.3250

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.98 %
GWO.PR.H Insurance Straight Quote: 20.50 – 21.70
Spot Rate : 1.2000
Average : 0.8170

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.98 %
CCS.PR.C Insurance Straight Quote: 21.00 – 21.96
Spot Rate : 0.9600
Average : 0.7164

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.02 %
GWO.PR.Q Insurance Straight Quote: 20.65 – 21.70
Spot Rate : 1.0500
Average : 0.8099

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-15
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.30 %
Market Action

January 14, 2025

The day brought with it sone interest with massive trading in the BCE.PR.E / BCE.PR.F pair with Gundy CIBC acting on the E buy-side and the F sell-side. TMXMoney.com reports VWAPs (for all trades in the day, not just CIBC’s) of 17.618 and 17.651, respectively.

E will go ex-dividend 1/31 for about 0.11723 (which was the dividend earned on 12/31) while F went ex on 12/31 for $0.2415625, while conversion is effective 2/1, so that helps the math a bit. If somebody is putting the position on AND converting to close the position, they’re making a little money, much of which will be eaten up by commission unless they have low trading costs. Cost of capital would nibble away at the balance. So maybe it’s a real money account behind all this, that has held the Fs but wants or wouldn’t mind the Es, depending on what the reset rate on the Fs turns out to be. It would be interesting to hear the story on this … it would be interesting to hear a lot of stories!

And who were the guys on the other side of all these trades and what were their stories?

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 -0.0788 % 2,319.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.0788 % 4,449.3
Floater 7.52 % 7.80 % 33,948 11.61 4 -0.0788 % 2,564.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.1144 % 3,637.7
SplitShare 4.76 % 4.62 % 52,853 0.77 8 0.1144 % 4,344.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1144 % 3,389.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0246 % 2,892.8
Perpetual-Discount 5.94 % 6.07 % 58,061 13.80 32 0.0246 % 3,154.5
FixedReset Disc 5.36 % 6.63 % 99,477 12.78 50 -0.2235 % 2,841.4
Insurance Straight 5.92 % 5.98 % 67,055 13.94 21 -0.8752 % 3,055.5
FloatingReset 6.25 % 6.35 % 41,695 13.37 3 0.3696 % 3,435.0
FixedReset Prem 5.71 % 5.50 % 165,022 3.36 12 -0.3375 % 2,583.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.2235 % 2,904.4
FixedReset Ins Non 5.16 % 6.07 % 73,772 13.70 14 0.0527 % 2,931.2
Performance Highlights
Issue Index Change Notes
SLF.PR.D Insurance Straight -19.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 16.22
Evaluated at bid price : 16.22
Bid-YTW : 6.94 %
SLF.PR.E Insurance Straight -6.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.98 %
BN.PR.T FixedReset Disc -5.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 7.58 %
CU.PR.E Perpetual-Discount -3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 6.06 %
FTS.PR.J Perpetual-Discount -2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.89 %
MFC.PR.B Insurance Straight -2.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 19.74
Evaluated at bid price : 19.74
Bid-YTW : 5.96 %
FTS.PR.K FixedReset Disc -2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.63
Evaluated at bid price : 20.63
Bid-YTW : 6.53 %
IFC.PR.E Insurance Straight -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 21.66
Evaluated at bid price : 22.05
Bid-YTW : 5.93 %
BN.PR.R FixedReset Disc -1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 7.40 %
BIP.PR.A FixedReset Disc -1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 23.23
Evaluated at bid price : 24.03
Bid-YTW : 6.95 %
MFC.PR.L FixedReset Ins Non -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 22.16
Evaluated at bid price : 22.75
Bid-YTW : 6.05 %
ENB.PR.D FixedReset Disc -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 7.40 %
NA.PR.E FixedReset Prem -1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 23.17
Evaluated at bid price : 24.57
Bid-YTW : 5.81 %
ENB.PF.G FixedReset Disc -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 19.28
Evaluated at bid price : 19.28
Bid-YTW : 7.52 %
ENB.PR.H FixedReset Disc -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 6.82 %
ENB.PR.P FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.28
Evaluated at bid price : 20.28
Bid-YTW : 7.22 %
PWF.PR.F Perpetual-Discount -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 21.46
Evaluated at bid price : 21.72
Bid-YTW : 6.05 %
GWO.PR.H Insurance Straight -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.04 %
BN.PF.J FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 22.88
Evaluated at bid price : 23.80
Bid-YTW : 6.62 %
MFC.PR.N FixedReset Ins Non 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 22.03
Evaluated at bid price : 22.60
Bid-YTW : 6.07 %
FTS.PR.H FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 6.85 %
GWO.PR.I Insurance Straight 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 5.90 %
GWO.PR.N FixedReset Ins Non 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 16.58
Evaluated at bid price : 16.58
Bid-YTW : 6.53 %
PWF.PR.P FixedReset Disc 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 16.44
Evaluated at bid price : 16.44
Bid-YTW : 6.98 %
FTS.PR.G FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 22.14
Evaluated at bid price : 22.62
Bid-YTW : 6.16 %
IFC.PR.F Insurance Straight 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 22.27
Evaluated at bid price : 22.55
Bid-YTW : 5.92 %
PWF.PR.L Perpetual-Discount 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.08 %
GWO.PR.Q Insurance Straight 4.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 21.51
Evaluated at bid price : 21.51
Bid-YTW : 6.05 %
PWF.PR.Z Perpetual-Discount 7.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.13 %
GWO.PR.R Insurance Straight 8.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 6.00 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.C FixedReset Prem 1,486,100 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-03-02
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 4.96 %
CM.PR.P FixedReset Disc 1,218,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 23.99
Evaluated at bid price : 24.95
Bid-YTW : 5.40 %
GWO.PR.N FixedReset Ins Non 301,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 16.58
Evaluated at bid price : 16.58
Bid-YTW : 6.53 %
SLF.PR.G FixedReset Ins Non 152,169 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.43 %
ENB.PF.E FixedReset Disc 118,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 7.43 %
ENB.PF.A FixedReset Disc 98,852 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 7.24 %
There were 31 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
SLF.PR.D Insurance Straight Quote: 16.22 – 20.47
Spot Rate : 4.2500
Average : 2.3771

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 16.22
Evaluated at bid price : 16.22
Bid-YTW : 6.94 %
CU.PR.H Perpetual-Discount Quote: 22.15 – 23.71
Spot Rate : 1.5600
Average : 0.9597

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 21.91
Evaluated at bid price : 22.15
Bid-YTW : 6.01 %
SLF.PR.E Insurance Straight Quote: 19.00 – 20.50
Spot Rate : 1.5000
Average : 0.9028

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.98 %
BN.PR.T FixedReset Disc Quote: 17.40 – 18.70
Spot Rate : 1.3000
Average : 0.7876

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 7.58 %
BN.PR.R FixedReset Disc Quote: 17.85 – 19.50
Spot Rate : 1.6500
Average : 1.1477

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 7.40 %
MFC.PR.K FixedReset Ins Non Quote: 24.30 – 25.88
Spot Rate : 1.5800
Average : 1.2628

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-14
Maturity Price : 23.02
Evaluated at bid price : 24.30
Bid-YTW : 5.79 %
Market Action

January 13, 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 0.2962 % 2,321.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2962 % 4,452.8
Floater 7.51 % 7.80 % 31,950 11.61 4 0.2962 % 2,566.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0050 % 3,633.6
SplitShare 4.76 % 4.70 % 48,587 0.77 8 -0.0050 % 4,339.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0050 % 3,385.7
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.3218 % 2,892.1
Perpetual-Discount 5.94 % 6.07 % 56,722 13.81 32 -0.3218 % 3,153.7
FixedReset Disc 5.34 % 6.62 % 102,423 12.76 50 -0.0245 % 2,847.7
Insurance Straight 5.87 % 5.97 % 65,993 13.96 21 -0.4057 % 3,082.5
FloatingReset 6.27 % 6.37 % 38,541 13.35 3 0.4196 % 3,422.3
FixedReset Prem 5.69 % 5.50 % 166,189 3.37 12 -0.0098 % 2,591.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.0245 % 2,910.9
FixedReset Ins Non 5.16 % 6.09 % 74,695 13.72 14 0.1981 % 2,929.7
Performance Highlights
Issue Index Change Notes
GWO.PR.R Insurance Straight -7.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.49 %
PWF.PR.Z Perpetual-Discount -7.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 19.67
Evaluated at bid price : 19.67
Bid-YTW : 6.58 %
GWO.PR.I Insurance Straight -2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 5.98 %
FTS.PR.G FixedReset Disc -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.87
Evaluated at bid price : 22.22
Bid-YTW : 6.28 %
PWF.PR.L Perpetual-Discount -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.22 %
IFC.PR.F Insurance Straight -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.67
Evaluated at bid price : 22.10
Bid-YTW : 6.03 %
MFC.PR.I FixedReset Ins Non -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 23.12
Evaluated at bid price : 24.21
Bid-YTW : 6.25 %
IFC.PR.C FixedReset Ins Non -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.55 %
GWO.PR.L Insurance Straight -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 23.25
Evaluated at bid price : 23.55
Bid-YTW : 6.04 %
IFC.PR.A FixedReset Ins Non -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 5.95 %
CU.PR.G Perpetual-Discount -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.83 %
CU.PR.D Perpetual-Discount -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.86 %
MFC.PR.J FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 23.28
Evaluated at bid price : 24.80
Bid-YTW : 5.91 %
SLF.PR.J FloatingReset 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 17.33
Evaluated at bid price : 17.33
Bid-YTW : 6.67 %
ENB.PF.C FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 7.29 %
ENB.PR.P FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.14 %
CCS.PR.C Insurance Straight 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.71
Evaluated at bid price : 21.96
Bid-YTW : 5.73 %
GWO.PR.T Insurance Straight 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.56
Evaluated at bid price : 21.56
Bid-YTW : 6.03 %
MFC.PR.N FixedReset Ins Non 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.87
Evaluated at bid price : 22.35
Bid-YTW : 6.15 %
SLF.PR.H FixedReset Ins Non 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 19.91
Evaluated at bid price : 19.91
Bid-YTW : 6.42 %
SLF.PR.G FixedReset Ins Non 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.45 %
MFC.PR.B Insurance Straight 2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 20.23
Evaluated at bid price : 20.23
Bid-YTW : 5.82 %
PWF.PR.G Perpetual-Discount 3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 24.05
Evaluated at bid price : 24.30
Bid-YTW : 6.08 %
GWO.PR.N FixedReset Ins Non 4.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 6.62 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.W FixedReset Prem 112,000 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-02-15
Maturity Price : 25.00
Evaluated at bid price : 24.91
Bid-YTW : 4.03 %
FFH.PR.I FixedReset Disc 112,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 22.66
Evaluated at bid price : 23.20
Bid-YTW : 6.33 %
FTS.PR.M FixedReset Disc 111,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.68 %
FFH.PR.K FixedReset Disc 61,000 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-03-31
Maturity Price : 25.00
Evaluated at bid price : 24.50
Bid-YTW : 6.16 %
TD.PF.A FixedReset Disc 50,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 22.63
Evaluated at bid price : 23.65
Bid-YTW : 5.56 %
TD.PF.C FixedReset Prem 49,700 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-03-02
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 4.85 %
There were 19 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
GWO.PR.R Insurance Straight Quote: 18.70 – 20.45
Spot Rate : 1.7500
Average : 1.0635

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.49 %
MFC.PR.K FixedReset Ins Non Quote: 24.35 – 25.88
Spot Rate : 1.5300
Average : 0.9149

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 23.04
Evaluated at bid price : 24.35
Bid-YTW : 5.77 %
SLF.PR.G FixedReset Ins Non Quote: 17.60 – 19.00
Spot Rate : 1.4000
Average : 0.8452

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.45 %
PWF.PR.Z Perpetual-Discount Quote: 19.67 – 21.50
Spot Rate : 1.8300
Average : 1.2777

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 19.67
Evaluated at bid price : 19.67
Bid-YTW : 6.58 %
IFC.PR.C FixedReset Ins Non Quote: 21.40 – 22.50
Spot Rate : 1.1000
Average : 0.8101

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.55 %
IFC.PR.F Insurance Straight Quote: 22.10 – 23.00
Spot Rate : 0.9000
Average : 0.6358

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-01-13
Maturity Price : 21.67
Evaluated at bid price : 22.10
Bid-YTW : 6.03 %