Category: Market Action

Market Action

June 5, 2025

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading
Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 1.3367 % 2,236.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.3367 % 4,353.1
Floater 7.14 % 7.24 % 61,370 12.16 2 1.3367 % 2,508.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0643 % 3,656.1
SplitShare 4.78 % 3.96 % 68,118 2.57 8 0.0643 % 4,366.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0643 % 3,406.7
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0978 % 2,952.3
Perpetual-Discount 5.82 % 5.98 % 50,042 13.89 33 0.0978 % 3,219.4
FixedReset Disc 5.61 % 6.19 % 130,565 13.06 46 0.1397 % 2,895.4
Insurance Straight 5.75 % 5.85 % 56,624 14.21 20 -0.0277 % 3,146.9
FloatingReset 5.55 % 5.73 % 45,816 14.36 3 0.1352 % 3,694.5
FixedReset Prem 6.06 % 5.02 % 123,941 3.33 12 0.1030 % 2,616.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1397 % 2,959.6
FixedReset Ins Non 5.15 % 5.61 % 62,963 14.28 14 0.5039 % 2,996.3
Performance Highlights
Issue Index Change Notes
ENB.PR.F FixedReset Disc -4.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 19.02
Evaluated at bid price : 19.02
Bid-YTW : 7.14 %
GWO.PR.S Insurance Straight -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.08 %
CU.PR.J Perpetual-Discount -2.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.02
Evaluated at bid price : 20.02
Bid-YTW : 5.98 %
BN.PF.D Perpetual-Discount -2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.29 %
CU.PR.C FixedReset Disc -2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.23 %
IFC.PR.F Insurance Straight -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 22.66
Evaluated at bid price : 23.00
Bid-YTW : 5.86 %
ENB.PF.K FixedReset Disc -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 22.89
Evaluated at bid price : 23.75
Bid-YTW : 6.37 %
PWF.PR.Z Perpetual-Discount -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.49
Evaluated at bid price : 21.49
Bid-YTW : 6.08 %
PWF.PR.K Perpetual-Discount -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.71
Evaluated at bid price : 20.71
Bid-YTW : 6.06 %
IFC.PR.A FixedReset Ins Non -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.45 %
TD.PF.I FixedReset Prem 1.01 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 26.12
Bid-YTW : 4.62 %
MFC.PR.K FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 23.25
Evaluated at bid price : 24.75
Bid-YTW : 5.30 %
GWO.PR.M Insurance Straight 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 24.21
Evaluated at bid price : 24.50
Bid-YTW : 5.92 %
ENB.PF.C FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 6.90 %
SLF.PR.J FloatingReset 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 17.74
Evaluated at bid price : 17.74
Bid-YTW : 5.75 %
BN.PR.K Floater 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 7.24 %
SLF.PR.G FixedReset Ins Non 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 17.84
Evaluated at bid price : 17.84
Bid-YTW : 5.96 %
CCS.PR.C Insurance Straight 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.81
Evaluated at bid price : 22.05
Bid-YTW : 5.67 %
BN.PR.B Floater 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 7.39 %
BN.PR.X FixedReset Disc 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 17.97
Evaluated at bid price : 17.97
Bid-YTW : 6.58 %
BN.PR.M Perpetual-Discount 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 6.06 %
MFC.PR.J FixedReset Ins Non 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 23.41
Evaluated at bid price : 24.97
Bid-YTW : 5.51 %
MFC.PR.F FixedReset Ins Non 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 17.51
Evaluated at bid price : 17.51
Bid-YTW : 5.90 %
GWO.PR.P Insurance Straight 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 23.09
Evaluated at bid price : 23.35
Bid-YTW : 5.78 %
GWO.PR.N FixedReset Ins Non 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 6.13 %
PWF.PR.P FixedReset Disc 5.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.17 %
BIP.PR.E FixedReset Disc 6.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 23.41
Evaluated at bid price : 25.00
Bid-YTW : 5.91 %
BN.PR.N Perpetual-Discount 9.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.11 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PF.C FixedReset Disc 107,220 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 6.90 %
BN.PF.I FixedReset Disc 100,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.16
Bid-YTW : 5.62 %
ENB.PF.G FixedReset Disc 81,601 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.89 %
ENB.PR.P FixedReset Disc 54,146 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 6.78 %
SLF.PR.H FixedReset Ins Non 51,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 5.74 %
CU.PR.C FixedReset Disc 47,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.23 %
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
BN.PF.G FixedReset Disc Quote: 21.43 – 23.95
Spot Rate : 2.5200
Average : 1.4773

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.43
Evaluated at bid price : 21.43
Bid-YTW : 6.71 %
PWF.PR.S Perpetual-Discount Quote: 20.33 – 21.75
Spot Rate : 1.4200
Average : 0.8401

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 20.33
Evaluated at bid price : 20.33
Bid-YTW : 5.99 %
CU.PR.H Perpetual-Discount Quote: 22.95 – 24.11
Spot Rate : 1.1600
Average : 0.7176

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 22.71
Evaluated at bid price : 22.95
Bid-YTW : 5.75 %
GWO.PR.L Insurance Straight Quote: 23.80 – 25.00
Spot Rate : 1.2000
Average : 0.7864

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 5.94 %
ENB.PR.F FixedReset Disc Quote: 19.02 – 20.01
Spot Rate : 0.9900
Average : 0.5969

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 19.02
Evaluated at bid price : 19.02
Bid-YTW : 7.14 %
GWO.PR.S Insurance Straight Quote: 21.60 – 22.90
Spot Rate : 1.3000
Average : 0.9518

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-05
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.08 %
Market Action

June 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 -1.0744 % 2,206.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.0744 % 4,295.7
Floater 7.24 % 7.33 % 61,662 12.05 2 -1.0744 % 2,475.6
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0148 % 3,653.8
SplitShare 4.79 % 3.94 % 70,547 2.57 8 -0.0148 % 4,363.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0148 % 3,404.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0537 % 2,949.4
Perpetual-Discount 5.83 % 5.98 % 48,545 13.89 33 0.0537 % 3,216.2
FixedReset Disc 5.62 % 6.21 % 129,228 13.08 46 0.1202 % 2,891.3
Insurance Straight 5.75 % 5.85 % 55,993 14.20 20 0.2104 % 3,147.8
FloatingReset 5.56 % 5.72 % 42,340 14.27 3 1.8207 % 3,689.5
FixedReset Prem 6.07 % 5.07 % 125,309 3.33 12 -0.0740 % 2,613.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1202 % 2,955.5
FixedReset Ins Non 5.17 % 5.66 % 60,627 14.18 14 0.9068 % 2,981.3
Performance Highlights
Issue Index Change Notes
BN.PR.N Perpetual-Discount -8.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 6.72 %
BN.PR.B Floater -3.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 11.84
Evaluated at bid price : 11.84
Bid-YTW : 7.49 %
ENB.PR.B FixedReset Disc -3.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.21 %
PWF.PR.P FixedReset Disc -2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 6.51 %
GWO.PR.T Insurance Straight -1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.00 %
GWO.PR.I Insurance Straight -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.86 %
ENB.PR.T FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 6.62 %
BN.PR.Z FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 22.58
Evaluated at bid price : 23.15
Bid-YTW : 6.42 %
MFC.PR.C Insurance Straight 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 5.54 %
BN.PR.K Floater 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 7.33 %
PWF.PF.A Perpetual-Discount 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.93 %
ENB.PR.F FixedReset Disc 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.79 %
ENB.PR.N FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 22.40
Evaluated at bid price : 23.03
Bid-YTW : 6.27 %
CU.PR.F Perpetual-Discount 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.68 %
MFC.PR.K FixedReset Ins Non 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 23.15
Evaluated at bid price : 24.50
Bid-YTW : 5.36 %
IFC.PR.F Insurance Straight 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 23.24
Evaluated at bid price : 23.50
Bid-YTW : 5.73 %
BN.PR.M Perpetual-Discount 2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.15 %
CU.PR.J Perpetual-Discount 2.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.81 %
GWO.PR.S Insurance Straight 4.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.83 %
SLF.PR.J FloatingReset 6.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 5.81 %
MFC.PR.I FixedReset Ins Non 6.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 23.40
Evaluated at bid price : 24.70
Bid-YTW : 5.76 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BN.PF.G FixedReset Disc 82,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 21.37
Evaluated at bid price : 21.37
Bid-YTW : 6.72 %
TD.PF.D FixedReset Disc 72,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 24.06
Evaluated at bid price : 24.95
Bid-YTW : 5.62 %
ENB.PR.Y FixedReset Disc 63,380 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 6.92 %
CU.PR.I FixedReset Disc 59,000 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.08
Bid-YTW : 3.93 %
ENB.PF.E FixedReset Disc 47,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 19.84
Evaluated at bid price : 19.84
Bid-YTW : 6.94 %
CU.PR.C FixedReset Disc 47,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 21.37
Evaluated at bid price : 21.68
Bid-YTW : 6.06 %
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
FTS.PR.M FixedReset Disc Quote: 22.15 – 24.80
Spot Rate : 2.6500
Average : 1.4510

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 21.77
Evaluated at bid price : 22.15
Bid-YTW : 6.08 %
BN.PR.N Perpetual-Discount Quote: 18.05 – 19.89
Spot Rate : 1.8400
Average : 1.1425

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 18.05
Evaluated at bid price : 18.05
Bid-YTW : 6.72 %
CU.PR.F Perpetual-Discount Quote: 19.95 – 23.88
Spot Rate : 3.9300
Average : 3.3934

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.68 %
TD.PF.D FixedReset Disc Quote: 24.95 – 26.00
Spot Rate : 1.0500
Average : 0.6358

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 24.06
Evaluated at bid price : 24.95
Bid-YTW : 5.62 %
IFC.PR.E Insurance Straight Quote: 23.34 – 24.99
Spot Rate : 1.6500
Average : 1.2526

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 22.94
Evaluated at bid price : 23.34
Bid-YTW : 5.65 %
ENB.PF.G FixedReset Disc Quote: 20.00 – 21.42
Spot Rate : 1.4200
Average : 1.1456

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-04
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.89 %
Market Action

June 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 2.1097 % 2,230.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 2.1097 % 4,342.3
Floater 7.16 % 7.24 % 77,602 12.17 2 2.1097 % 2,502.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0643 % 3,654.3
SplitShare 4.79 % 3.94 % 73,421 2.57 8 -0.0643 % 4,364.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0643 % 3,405.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.3165 % 2,947.9
Perpetual-Discount 5.83 % 5.99 % 49,956 13.87 33 0.3165 % 3,214.5
FixedReset Disc 5.63 % 6.23 % 130,481 13.06 46 0.3311 % 2,887.9
Insurance Straight 5.76 % 5.85 % 56,873 14.15 20 0.3388 % 3,141.1
FloatingReset 5.66 % 5.72 % 39,408 14.20 3 -0.0459 % 3,623.5
FixedReset Prem 6.07 % 5.07 % 126,014 3.33 12 0.0676 % 2,615.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3311 % 2,952.0
FixedReset Ins Non 5.22 % 5.66 % 60,717 14.16 14 -0.1778 % 2,954.5
Performance Highlights
Issue Index Change Notes
MFC.PR.I FixedReset Ins Non -5.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.61
Evaluated at bid price : 23.13
Bid-YTW : 6.20 %
BN.PR.M Perpetual-Discount -2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.30 %
CU.PR.J Perpetual-Discount -2.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 20.02
Evaluated at bid price : 20.02
Bid-YTW : 5.98 %
IFC.PR.F Insurance Straight -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.66
Evaluated at bid price : 23.00
Bid-YTW : 5.86 %
GWO.PR.S Insurance Straight -1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.07 %
CU.PR.D Perpetual-Discount -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 6.00 %
ENB.PR.A Perpetual-Discount 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 5.95 %
ELF.PR.F Perpetual-Discount 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.97 %
BN.PF.J FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 23.42
Evaluated at bid price : 24.90
Bid-YTW : 6.06 %
BN.PR.K Floater 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 11.95
Evaluated at bid price : 11.95
Bid-YTW : 7.42 %
CU.PR.G Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 5.69 %
SLF.PR.H FixedReset Ins Non 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.76 %
PWF.PR.O Perpetual-Discount 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 24.21
Evaluated at bid price : 24.50
Bid-YTW : 5.99 %
PWF.PR.L Perpetual-Discount 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 21.37
Evaluated at bid price : 21.37
Bid-YTW : 6.05 %
GWO.PR.T Insurance Straight 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 21.59
Evaluated at bid price : 21.91
Bid-YTW : 5.87 %
SLF.PR.G FixedReset Ins Non 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 17.69
Evaluated at bid price : 17.69
Bid-YTW : 6.00 %
CU.PR.H Perpetual-Discount 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.55
Evaluated at bid price : 22.80
Bid-YTW : 5.79 %
CU.PR.C FixedReset Disc 1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.12 %
CCS.PR.C Insurance Straight 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 21.47
Evaluated at bid price : 21.73
Bid-YTW : 5.75 %
IFC.PR.E Insurance Straight 2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.94
Evaluated at bid price : 23.34
Bid-YTW : 5.65 %
BN.PR.N Perpetual-Discount 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.12 %
BN.PR.B Floater 2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 7.24 %
ENB.PR.B FixedReset Disc 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 18.91
Evaluated at bid price : 18.91
Bid-YTW : 6.97 %
GWO.PR.I Insurance Straight 3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 19.47
Evaluated at bid price : 19.47
Bid-YTW : 5.79 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.M FixedReset Disc 128,704 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 24.09
Evaluated at bid price : 24.73
Bid-YTW : 5.44 %
ENB.PF.K FixedReset Disc 63,979 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 23.11
Evaluated at bid price : 24.20
Bid-YTW : 6.24 %
FFH.PR.I FixedReset Disc 58,665 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 23.88
Evaluated at bid price : 24.52
Bid-YTW : 5.75 %
ENB.PF.C FixedReset Disc 51,514 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 19.96
Evaluated at bid price : 19.96
Bid-YTW : 6.91 %
BN.PF.F FixedReset Disc 42,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 21.59
Evaluated at bid price : 21.90
Bid-YTW : 6.67 %
FFH.PR.G FixedReset Disc 41,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 23.79
Evaluated at bid price : 24.60
Bid-YTW : 5.45 %
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
PWF.PR.P FixedReset Disc Quote: 17.10 – 24.68
Spot Rate : 7.5800
Average : 5.5169

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 6.38 %
CU.PR.F Perpetual-Discount Quote: 19.65 – 23.88
Spot Rate : 4.2300
Average : 2.8050

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 5.77 %
MFC.PR.I FixedReset Ins Non Quote: 23.13 – 24.70
Spot Rate : 1.5700
Average : 0.8749

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.61
Evaluated at bid price : 23.13
Bid-YTW : 6.20 %
ENB.PF.G FixedReset Disc Quote: 20.00 – 21.42
Spot Rate : 1.4200
Average : 0.8447

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.89 %
BIP.PR.E FixedReset Disc Quote: 23.50 – 25.75
Spot Rate : 2.2500
Average : 1.7039

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 22.75
Evaluated at bid price : 23.50
Bid-YTW : 6.34 %
GWO.PR.M Insurance Straight Quote: 24.03 – 25.03
Spot Rate : 1.0000
Average : 0.6374

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-03
Maturity Price : 23.72
Evaluated at bid price : 24.03
Bid-YTW : 6.03 %
Market Action

June 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 0.1691 % 2,184.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1691 % 4,252.6
Floater 7.31 % 7.45 % 76,383 11.91 2 0.1691 % 2,450.8
OpRet 0.00 % 0.00 % 0 0.00 0 0.2627 % 3,656.7
SplitShare 4.78 % 4.01 % 76,411 2.58 8 0.2627 % 4,366.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2627 % 3,407.2
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.4024 % 2,938.6
Perpetual-Discount 5.85 % 6.01 % 48,670 13.87 33 0.4024 % 3,204.3
FixedReset Disc 5.53 % 6.25 % 124,296 12.99 46 0.3313 % 2,878.3
Insurance Straight 5.78 % 5.88 % 57,294 14.13 20 0.4077 % 3,130.5
FloatingReset 5.66 % 5.71 % 36,490 14.23 3 -0.3201 % 3,625.2
FixedReset Prem 6.07 % 5.00 % 118,713 3.38 12 0.1128 % 2,613.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3313 % 2,942.2
FixedReset Ins Non 5.21 % 5.68 % 61,584 14.12 14 0.4808 % 2,959.8
Performance Highlights
Issue Index Change Notes
GWO.PR.I Insurance Straight -3.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 5.99 %
SLF.PR.J FloatingReset -3.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 16.49
Evaluated at bid price : 16.49
Bid-YTW : 6.18 %
ENB.PR.B FixedReset Disc -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.20 %
FTS.PR.J Perpetual-Discount -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.71
Evaluated at bid price : 20.71
Bid-YTW : 5.78 %
ENB.PR.A Perpetual-Discount -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 22.71
Evaluated at bid price : 23.00
Bid-YTW : 6.01 %
NA.PR.K FixedReset Prem -1.07 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2029-05-01
Maturity Price : 25.00
Evaluated at bid price : 27.70
Bid-YTW : 4.83 %
PVS.PR.K SplitShare 1.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.25
Bid-YTW : 4.18 %
GWO.PR.H Insurance Straight 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.84 %
BN.PR.X FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 17.61
Evaluated at bid price : 17.61
Bid-YTW : 6.71 %
IFC.PR.A FixedReset Ins Non 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 21.41
Evaluated at bid price : 21.75
Bid-YTW : 5.36 %
FTS.PR.F Perpetual-Discount 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 21.38
Evaluated at bid price : 21.65
Bid-YTW : 5.68 %
SLF.PR.H FixedReset Ins Non 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 5.84 %
BN.PF.C Perpetual-Discount 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.11 %
MFC.PR.B Insurance Straight 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 5.63 %
FFH.PR.J FloatingReset 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 24.23
Evaluated at bid price : 24.52
Bid-YTW : 5.71 %
ENB.PR.P FixedReset Disc 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.77 %
CU.PR.F Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 5.77 %
SLF.PR.G FixedReset Ins Non 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 6.10 %
BN.PF.B FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 21.91
Evaluated at bid price : 22.30
Bid-YTW : 6.43 %
PWF.PR.P FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.41 %
GWO.PR.P Insurance Straight 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 22.66
Evaluated at bid price : 22.90
Bid-YTW : 5.89 %
GWO.PR.N FixedReset Ins Non 1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 16.20
Evaluated at bid price : 16.20
Bid-YTW : 6.25 %
MFC.PR.F FixedReset Ins Non 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 16.95
Evaluated at bid price : 16.95
Bid-YTW : 6.08 %
ENB.PR.J FixedReset Disc 2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.79 %
IFC.PR.F Insurance Straight 2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 23.24
Evaluated at bid price : 23.50
Bid-YTW : 5.73 %
GWO.PR.S Insurance Straight 3.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 5.96 %
SLF.PR.D Insurance Straight 4.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 5.43 %
BN.PR.N Perpetual-Discount 7.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 6.28 %
SLF.PR.E Insurance Straight 10.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 5.44 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PF.E FixedReset Disc 136,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.99 %
TD.PF.A FixedReset Disc 134,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 22.86
Evaluated at bid price : 24.10
Bid-YTW : 5.23 %
ENB.PR.N FixedReset Disc 65,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 22.20
Evaluated at bid price : 22.70
Bid-YTW : 6.37 %
BN.PF.G FixedReset Disc 64,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.76 %
FFH.PR.H FloatingReset 64,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 23.97
Evaluated at bid price : 24.38
Bid-YTW : 5.43 %
IFC.PR.E Insurance Straight 53,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 22.36
Evaluated at bid price : 22.80
Bid-YTW : 5.79 %
There were 23 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.N FixedReset Disc Quote: 22.70 – 24.76
Spot Rate : 2.0600
Average : 1.2377

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 22.20
Evaluated at bid price : 22.70
Bid-YTW : 6.37 %
IFC.PR.E Insurance Straight Quote: 22.80 – 24.99
Spot Rate : 2.1900
Average : 1.3725

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 22.36
Evaluated at bid price : 22.80
Bid-YTW : 5.79 %
GWO.PR.Y Insurance Straight Quote: 19.15 – 21.00
Spot Rate : 1.8500
Average : 1.3410

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 5.89 %
GWO.PR.I Insurance Straight Quote: 18.82 – 19.75
Spot Rate : 0.9300
Average : 0.6266

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 5.99 %
SLF.PR.J FloatingReset Quote: 16.49 – 17.40
Spot Rate : 0.9100
Average : 0.6077

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 16.49
Evaluated at bid price : 16.49
Bid-YTW : 6.18 %
CU.PR.E Perpetual-Discount Quote: 20.94 – 21.55
Spot Rate : 0.6100
Average : 0.3880

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-02
Maturity Price : 20.94
Evaluated at bid price : 20.94
Bid-YTW : 5.89 %
Market Action

May 30, 2025

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading
Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.0544 % 2,180.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0544 % 4,245.4
Floater 7.07 % 7.48 % 55,958 11.89 3 0.0544 % 2,446.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0347 % 3,647.1
SplitShare 4.80 % 4.08 % 79,525 2.58 8 -0.0347 % 4,355.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0347 % 3,398.3
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1014 % 2,926.8
Perpetual-Discount 5.87 % 5.98 % 49,230 13.87 33 0.1014 % 3,191.5
FixedReset Disc 5.54 % 6.22 % 124,984 12.88 50 0.1399 % 2,868.8
Insurance Straight 5.81 % 5.90 % 57,806 13.97 21 -0.7839 % 3,117.8
FloatingReset 5.59 % 5.74 % 36,322 14.19 3 -0.2281 % 3,636.8
FixedReset Prem 6.36 % 5.05 % 117,433 3.35 8 -0.2431 % 2,610.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1399 % 2,932.5
FixedReset Ins Non 5.23 % 5.76 % 61,437 14.04 14 0.0422 % 2,945.6
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -8.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 6.02 %
BN.PR.N Perpetual-Discount -7.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.74 %
GWO.PR.S Insurance Straight -4.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.18 %
BIP.PR.E FixedReset Disc -3.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 22.75
Evaluated at bid price : 23.50
Bid-YTW : 6.41 %
SLF.PR.D Insurance Straight -2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.65 %
GWO.PR.P Insurance Straight -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 22.55
Evaluated at bid price : 22.80
Bid-YTW : 6.02 %
IFC.PR.F Insurance Straight -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 22.58
Evaluated at bid price : 22.84
Bid-YTW : 5.90 %
NA.PR.C FixedReset Prem -1.12 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 26.50
Bid-YTW : 4.58 %
FTS.PR.F Perpetual-Discount -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.76 %
FTS.PR.J Perpetual-Discount 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.69 %
BN.PF.A FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 22.97
Evaluated at bid price : 24.10
Bid-YTW : 6.32 %
CU.PR.G Perpetual-Discount 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 5.77 %
ENB.PR.N FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 22.13
Evaluated at bid price : 22.60
Bid-YTW : 6.47 %
CU.PR.J Perpetual-Discount 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 5.89 %
PWF.PR.Z Perpetual-Discount 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 5.98 %
CCS.PR.C Insurance Straight 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.88 %
BN.PF.D Perpetual-Discount 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.18 %
BIP.PR.F FixedReset Disc 1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 23.11
Evaluated at bid price : 24.50
Bid-YTW : 6.03 %
ENB.PR.F FixedReset Disc 3.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 19.76
Evaluated at bid price : 19.76
Bid-YTW : 6.94 %
CU.PR.C FixedReset Disc 5.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.30 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PR.Y FixedReset Disc 107,556 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 18.89
Evaluated at bid price : 18.89
Bid-YTW : 7.06 %
BIP.PR.A FixedReset Disc 38,800 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-30
Maturity Price : 25.00
Evaluated at bid price : 24.94
Bid-YTW : 2.85 %
MFC.PR.F FixedReset Ins Non 20,239 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 6.31 %
FTS.PR.M FixedReset Disc 16,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.56
Evaluated at bid price : 21.87
Bid-YTW : 6.22 %
ENB.PR.T FixedReset Disc 13,958 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 20.82
Evaluated at bid price : 20.82
Bid-YTW : 6.85 %
FFH.PR.G FixedReset Disc 13,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 23.43
Evaluated at bid price : 24.30
Bid-YTW : 5.59 %
There were 3 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
PWF.PR.P FixedReset Disc Quote: 16.70 – 24.68
Spot Rate : 7.9800
Average : 6.6372

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 6.64 %
BN.PR.N Perpetual-Discount Quote: 18.00 – 19.65
Spot Rate : 1.6500
Average : 0.9269

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.74 %
SLF.PR.E Insurance Straight Quote: 18.72 – 21.20
Spot Rate : 2.4800
Average : 1.8179

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 6.02 %
BIP.PR.E FixedReset Disc Quote: 23.50 – 24.96
Spot Rate : 1.4600
Average : 0.8913

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 22.75
Evaluated at bid price : 23.50
Bid-YTW : 6.41 %
BN.PF.G FixedReset Disc Quote: 21.15 – 23.95
Spot Rate : 2.8000
Average : 2.2954

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.88 %
CU.PR.J Perpetual-Discount Quote: 20.30 – 21.52
Spot Rate : 1.2200
Average : 0.7661

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-30
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 5.89 %
Market Action

May 29, 2025

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading
Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.2729 % 2,179.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2729 % 4,243.1
Floater 7.07 % 7.49 % 56,485 11.88 3 0.2729 % 2,445.3
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0149 % 3,648.4
SplitShare 4.79 % 4.07 % 82,770 2.59 8 -0.0149 % 4,356.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0149 % 3,399.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1795 % 2,923.8
Perpetual-Discount 5.88 % 6.02 % 48,885 13.86 33 0.1795 % 3,188.3
FixedReset Disc 5.55 % 6.24 % 125,883 12.81 50 0.1392 % 2,864.8
Insurance Straight 5.76 % 5.88 % 58,015 13.96 21 1.1887 % 3,142.5
FloatingReset 5.58 % 5.69 % 36,858 14.27 3 -0.4542 % 3,645.1
FixedReset Prem 6.34 % 4.99 % 116,568 3.35 8 0.4741 % 2,616.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1392 % 2,928.4
FixedReset Ins Non 5.24 % 5.76 % 62,016 14.06 14 0.1530 % 2,944.4
Performance Highlights
Issue Index Change Notes
CU.PR.C FixedReset Disc -2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.67 %
ENB.PR.F FixedReset Disc -2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 7.22 %
SLF.PR.J FloatingReset -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 5.93 %
MFC.PR.C Insurance Straight 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 5.59 %
NA.PR.C FixedReset Prem 1.13 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 26.80
Bid-YTW : 4.07 %
ENB.PR.D FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.96 %
SLF.PR.H FixedReset Ins Non 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.01 %
BIP.PR.F FixedReset Disc 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 23.09
Evaluated at bid price : 24.46
Bid-YTW : 6.16 %
ENB.PR.J FixedReset Disc 1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 7.00 %
GWO.PR.R Insurance Straight 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 5.94 %
GWO.PR.H Insurance Straight 2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.83
Evaluated at bid price : 20.83
Bid-YTW : 5.93 %
SLF.PR.D Insurance Straight 3.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.13
Evaluated at bid price : 20.13
Bid-YTW : 5.53 %
IFC.PR.F Insurance Straight 5.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 22.74
Evaluated at bid price : 23.10
Bid-YTW : 5.82 %
SLF.PR.E Insurance Straight 10.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 5.49 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PR.Y FixedReset Disc 184,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 7.05 %
TD.PF.A FixedReset Disc 136,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 22.73
Evaluated at bid price : 23.81
Bid-YTW : 5.36 %
BN.PF.F FixedReset Disc 123,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 21.58
Evaluated at bid price : 21.88
Bid-YTW : 6.74 %
PWF.PR.P FixedReset Disc 81,009 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 6.62 %
ENB.PF.C FixedReset Disc 79,795 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 7.03 %
RY.PR.N Perpetual-Discount 64,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 24.15
Evaluated at bid price : 24.40
Bid-YTW : 5.04 %
There were 19 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.P FixedReset Disc Quote: 16.75 – 24.68
Spot Rate : 7.9300
Average : 5.1650

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 6.62 %
BN.PF.G FixedReset Disc Quote: 21.10 – 23.95
Spot Rate : 2.8500
Average : 1.7420

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.90 %
ENB.PR.F FixedReset Disc Quote: 19.01 – 19.98
Spot Rate : 0.9700
Average : 0.6264

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 7.22 %
CU.PR.F Perpetual-Discount Quote: 19.35 – 23.88
Spot Rate : 4.5300
Average : 4.2324

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %
GWO.PR.I Insurance Straight Quote: 19.80 – 20.49
Spot Rate : 0.6900
Average : 0.4299

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.79 %
SLF.PR.G FixedReset Ins Non Quote: 17.22 – 18.30
Spot Rate : 1.0800
Average : 0.8490

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-29
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 6.28 %
Market Action

May 28, 2025

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading
Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.1366 % 2,173.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1366 % 4,231.6
Floater 7.09 % 7.51 % 58,507 11.86 3 0.1366 % 2,438.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0694 % 3,648.9
SplitShare 4.79 % 4.07 % 84,017 2.59 8 0.0694 % 4,357.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0694 % 3,400.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.2609 % 2,918.6
Perpetual-Discount 5.89 % 6.03 % 50,508 13.85 33 0.2609 % 3,182.6
FixedReset Disc 5.56 % 6.27 % 122,603 12.80 50 0.2820 % 2,860.8
Insurance Straight 5.83 % 5.95 % 59,778 13.91 21 -0.4886 % 3,105.5
FloatingReset 5.56 % 5.70 % 36,530 14.28 3 0.7628 % 3,661.8
FixedReset Prem 6.37 % 5.28 % 117,142 3.35 8 0.0239 % 2,604.6
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2820 % 2,924.3
FixedReset Ins Non 5.24 % 5.78 % 60,685 14.04 14 0.8270 % 2,939.9
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -7.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 6.04 %
IFC.PR.F Insurance Straight -4.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.63
Evaluated at bid price : 22.00
Bid-YTW : 6.12 %
CCS.PR.C Insurance Straight -3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.98 %
GWO.PR.H Insurance Straight -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.07 %
BIP.PR.F FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.96
Evaluated at bid price : 24.15
Bid-YTW : 6.26 %
ENB.PR.F FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 7.05 %
BIP.PR.B FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : 5.22 %
MFC.PR.F FixedReset Ins Non 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.31 %
BIP.PR.A FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.17
Bid-YTW : 3.47 %
GWO.PR.Y Insurance Straight 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 5.83 %
GWO.PR.P Insurance Straight 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.77
Evaluated at bid price : 23.05
Bid-YTW : 5.95 %
MFC.PR.B Insurance Straight 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.38
Evaluated at bid price : 20.38
Bid-YTW : 5.72 %
IFC.PR.A FixedReset Ins Non 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.57 %
ENB.PR.H FixedReset Disc 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 6.45 %
CU.PR.G Perpetual-Discount 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.29
Evaluated at bid price : 19.29
Bid-YTW : 5.87 %
GWO.PR.T Insurance Straight 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.48
Evaluated at bid price : 21.80
Bid-YTW : 6.00 %
SLF.PR.C Insurance Straight 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.54 %
BN.PF.E FixedReset Disc 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.64
Evaluated at bid price : 19.64
Bid-YTW : 6.98 %
IFC.PR.I Insurance Straight 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.99
Evaluated at bid price : 23.45
Bid-YTW : 5.84 %
ENB.PR.B FixedReset Disc 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 7.14 %
GWO.PR.S Insurance Straight 2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.93 %
FTS.PR.H FixedReset Disc 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.46 %
SLF.PR.J FloatingReset 4.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 5.81 %
PWF.PR.F Perpetual-Discount 4.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.89
Evaluated at bid price : 22.13
Bid-YTW : 5.99 %
SLF.PR.H FixedReset Ins Non 8.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.16
Evaluated at bid price : 20.16
Bid-YTW : 6.08 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BIP.PR.A FixedReset Disc 391,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.17
Bid-YTW : 3.47 %
ENB.PR.B FixedReset Disc 163,922 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 7.14 %
BN.PF.J FixedReset Disc 119,320 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 23.30
Evaluated at bid price : 24.60
Bid-YTW : 6.20 %
ENB.PF.C FixedReset Disc 117,161 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 7.03 %
RY.PR.M FixedReset Disc 70,610 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-11-24
Maturity Price : 25.00
Evaluated at bid price : 24.71
Bid-YTW : 5.48 %
ENB.PF.G FixedReset Disc 63,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 7.10 %
There were 24 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: 19.35 – 23.88
Spot Rate : 4.5300
Average : 3.9061

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %
IFC.PR.F Insurance Straight Quote: 22.00 – 24.00
Spot Rate : 2.0000
Average : 1.4311

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.63
Evaluated at bid price : 22.00
Bid-YTW : 6.12 %
BN.PF.E FixedReset Disc Quote: 19.64 – 20.99
Spot Rate : 1.3500
Average : 0.8642

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.64
Evaluated at bid price : 19.64
Bid-YTW : 6.98 %
BN.PR.R FixedReset Disc Quote: 18.49 – 20.00
Spot Rate : 1.5100
Average : 1.0366

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.49
Evaluated at bid price : 18.49
Bid-YTW : 6.94 %
CU.PR.C FixedReset Disc Quote: 20.57 – 21.96
Spot Rate : 1.3900
Average : 0.9546

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.48 %
SLF.PR.E Insurance Straight Quote: 18.65 – 20.59
Spot Rate : 1.9400
Average : 1.5435

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 6.04 %
Market Action

May 27, 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 0.4666 % 2,170.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4666 % 4,225.8
Floater 7.10 % 7.50 % 58,247 11.86 3 0.4666 % 2,435.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.4032 % 3,646.4
SplitShare 4.80 % 4.30 % 85,135 2.59 8 0.4032 % 4,354.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4032 % 3,397.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.3697 % 2,911.0
Perpetual-Discount 5.91 % 6.04 % 50,336 13.81 33 -0.3697 % 3,174.3
FixedReset Disc 5.58 % 6.33 % 122,248 12.85 50 0.4133 % 2,852.8
Insurance Straight 5.80 % 5.91 % 59,072 13.98 21 1.0591 % 3,120.8
FloatingReset 5.60 % 5.72 % 34,889 14.22 3 0.0763 % 3,634.0
FixedReset Prem 6.37 % 5.27 % 116,645 3.41 8 0.2208 % 2,603.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4133 % 2,916.1
FixedReset Ins Non 5.29 % 5.83 % 60,851 13.99 14 -0.2749 % 2,915.7
Performance Highlights
Issue Index Change Notes
CU.PR.F Perpetual-Discount -15.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %
SLF.PR.H FixedReset Ins Non -7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.62 %
PWF.PR.F Perpetual-Discount -3.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.27 %
GWO.PR.S Insurance Straight -2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.78
Evaluated at bid price : 22.03
Bid-YTW : 6.06 %
ENB.PR.B FixedReset Disc -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.29 %
GWO.PR.T Insurance Straight -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.12 %
SLF.PR.C Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 5.65 %
BIP.PR.E FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.32
Evaluated at bid price : 24.75
Bid-YTW : 6.16 %
BN.PF.F FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.50
Evaluated at bid price : 21.78
Bid-YTW : 6.77 %
NA.PR.C FixedReset Prem 1.06 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 26.70
Bid-YTW : 4.23 %
PWF.PF.A Perpetual-Discount 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.01 %
IFC.PR.K Insurance Straight 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.45
Evaluated at bid price : 22.74
Bid-YTW : 5.86 %
BIP.PR.F FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.11
Evaluated at bid price : 24.51
Bid-YTW : 6.15 %
IFC.PR.F Insurance Straight 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.72
Evaluated at bid price : 23.08
Bid-YTW : 5.83 %
PVS.PR.J SplitShare 1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 4.30 %
ENB.PR.H FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.55 %
MFC.PR.K FixedReset Ins Non 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.98
Evaluated at bid price : 24.10
Bid-YTW : 5.53 %
GWO.PR.Y Insurance Straight 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.91 %
FTS.PR.G FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.18
Evaluated at bid price : 22.63
Bid-YTW : 5.83 %
PWF.PR.K Perpetual-Discount 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.05 %
BN.PR.Z FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.26
Evaluated at bid price : 22.65
Bid-YTW : 6.64 %
FTS.PR.K FixedReset Disc 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.97 %
PWF.PR.P FixedReset Disc 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.67 %
MFC.PR.B Insurance Straight 2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.80 %
MFC.PR.C Insurance Straight 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.64 %
PVS.PR.K SplitShare 2.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 4.44 %
GWO.PR.L Insurance Straight 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.59
Evaluated at bid price : 23.86
Bid-YTW : 6.02 %
ENB.PF.C FixedReset Disc 2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 7.07 %
CCS.PR.C Insurance Straight 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 5.77 %
GWO.PR.G Insurance Straight 5.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.92
Evaluated at bid price : 22.16
Bid-YTW : 5.96 %
SLF.PR.E Insurance Straight 7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 5.62 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BN.PF.G FixedReset Disc 216,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.88
Evaluated at bid price : 20.88
Bid-YTW : 6.97 %
BN.PF.B FixedReset Disc 193,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.58
Evaluated at bid price : 21.85
Bid-YTW : 6.64 %
TD.PF.A FixedReset Disc 184,701 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.72
Evaluated at bid price : 23.79
Bid-YTW : 5.36 %
TD.PF.I FixedReset Prem 155,239 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.62
Bid-YTW : 5.44 %
BN.PR.T FixedReset Disc 114,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.19
Evaluated at bid price : 18.19
Bid-YTW : 7.04 %
BN.PR.R FixedReset Disc 102,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.95 %
There were 25 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.P FixedReset Disc Quote: 16.60 – 24.68
Spot Rate : 8.0800
Average : 4.3407

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.67 %
CU.PR.F Perpetual-Discount Quote: 19.35 – 23.88
Spot Rate : 4.5300
Average : 3.2220

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %
PWF.PF.A Perpetual-Discount Quote: 18.95 – 20.43
Spot Rate : 1.4800
Average : 0.9495

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.01 %
SLF.PR.G FixedReset Ins Non Quote: 17.22 – 18.60
Spot Rate : 1.3800
Average : 0.9309

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 6.33 %
TD.PF.D FixedReset Disc Quote: 24.83 – 25.83
Spot Rate : 1.0000
Average : 0.6132

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.91
Evaluated at bid price : 24.83
Bid-YTW : 5.72 %
PWF.PR.F Perpetual-Discount Quote: 21.20 – 22.25
Spot Rate : 1.0500
Average : 0.6876

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.27 %
Market Action

May 26, 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 0.3858 % 2,160.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.3858 % 4,206.2
Floater 7.13 % 7.50 % 59,108 11.87 3 0.3858 % 2,424.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.1496 % 3,631.7
SplitShare 4.82 % 3.65 % 59,714 0.75 8 0.1496 % 4,337.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1496 % 3,384.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0612 % 2,921.8
Perpetual-Discount 5.88 % 6.05 % 49,163 13.81 33 0.0612 % 3,186.1
FixedReset Disc 5.60 % 6.36 % 120,123 12.89 50 0.2856 % 2,841.0
Insurance Straight 5.86 % 5.96 % 59,239 13.88 21 -0.1873 % 3,088.1
FloatingReset 5.60 % 5.71 % 33,406 14.24 3 0.3063 % 3,631.3
FixedReset Prem 6.39 % 5.49 % 117,640 3.41 8 0.3034 % 2,598.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2856 % 2,904.1
FixedReset Ins Non 5.27 % 5.87 % 60,691 14.02 14 1.0182 % 2,923.8
Performance Highlights
Issue Index Change Notes
GWO.PR.G Insurance Straight -4.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.02
Evaluated at bid price : 21.02
Bid-YTW : 6.30 %
SLF.PR.D Insurance Straight -3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 5.82 %
GWO.PR.L Insurance Straight -2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 6.18 %
ENB.PF.C FixedReset Disc -1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 7.27 %
PWF.PR.K Perpetual-Discount -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 6.13 %
MFC.PR.B Insurance Straight -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.92 %
IFC.PR.I Insurance Straight -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.60
Evaluated at bid price : 23.00
Bid-YTW : 5.96 %
BN.PR.Z FixedReset Disc -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.97
Evaluated at bid price : 22.25
Bid-YTW : 6.76 %
IFC.PR.E Insurance Straight -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.35
Evaluated at bid price : 22.80
Bid-YTW : 5.78 %
PWF.PF.A Perpetual-Discount -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.08 %
POW.PR.C Perpetual-Discount 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 23.91
Evaluated at bid price : 24.15
Bid-YTW : 6.09 %
ENB.PR.T FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.64
Evaluated at bid price : 20.64
Bid-YTW : 6.90 %
BN.PR.K Floater 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.50 %
FTS.PR.M FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.44
Evaluated at bid price : 21.44
Bid-YTW : 6.36 %
MFC.PR.F FixedReset Ins Non 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.35 %
BN.PF.E FixedReset Disc 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.12 %
SLF.PR.C Insurance Straight 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 5.58 %
GWO.PR.H Insurance Straight 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.92 %
IFC.PR.K Insurance Straight 3.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.17
Evaluated at bid price : 22.50
Bid-YTW : 5.92 %
BN.PF.B FixedReset Disc 3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 6.67 %
IFC.PR.F Insurance Straight 3.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.57
Evaluated at bid price : 22.83
Bid-YTW : 5.89 %
MFC.PR.L FixedReset Ins Non 5.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.86
Evaluated at bid price : 22.25
Bid-YTW : 5.89 %
MFC.PR.M FixedReset Ins Non 7.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.12
Evaluated at bid price : 22.70
Bid-YTW : 5.87 %
Volume Highlights
Issue Index Shares
Traded		 Notes
SLF.PR.D Insurance Straight 143,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 5.82 %
ENB.PR.T FixedReset Disc 122,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.64
Evaluated at bid price : 20.64
Bid-YTW : 6.90 %
FTS.PR.G FixedReset Disc 114,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.97
Evaluated at bid price : 22.33
Bid-YTW : 5.91 %
BN.PF.B FixedReset Disc 113,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 6.67 %
MFC.PR.I FixedReset Ins Non 105,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 23.29
Evaluated at bid price : 24.45
Bid-YTW : 5.89 %
PWF.PR.L Perpetual-Discount 102,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.12 %
GWO.PR.H Insurance Straight 101,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.92 %
There were 26 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: 20.75 – 23.95
Spot Rate : 3.2000
Average : 1.7348

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 7.01 %
NA.PR.C FixedReset Prem Quote: 26.42 – 27.42
Spot Rate : 1.0000
Average : 0.5739

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 26.42
Bid-YTW : 4.69 %
GWO.PR.G Insurance Straight Quote: 21.02 – 22.25
Spot Rate : 1.2300
Average : 0.8089

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.02
Evaluated at bid price : 21.02
Bid-YTW : 6.30 %
MFC.PR.C Insurance Straight Quote: 19.57 – 20.55
Spot Rate : 0.9800
Average : 0.6094

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.57
Evaluated at bid price : 19.57
Bid-YTW : 5.76 %
SLF.PR.E Insurance Straight Quote: 18.90 – 21.20
Spot Rate : 2.3000
Average : 1.9515

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %
GWO.PR.L Insurance Straight Quote: 23.25 – 24.10
Spot Rate : 0.8500
Average : 0.5393

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 6.18 %
Market Action

May 23, 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 -0.1376 % 2,152.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1376 % 4,190.0
Floater 7.16 % 7.53 % 57,756 11.84 3 -0.1376 % 2,414.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.8502 % 3,626.3
SplitShare 4.82 % 3.93 % 60,101 0.75 8 -0.8502 % 4,330.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.8502 % 3,378.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.5256 % 2,920.0
Perpetual-Discount 5.89 % 6.04 % 49,017 13.83 33 0.5256 % 3,184.1
FixedReset Disc 5.56 % 6.42 % 118,482 12.91 51 0.2811 % 2,832.9
Insurance Straight 5.85 % 5.98 % 60,154 13.86 21 -0.3113 % 3,093.9
FloatingReset 5.63 % 5.76 % 32,595 14.18 3 -0.0153 % 3,620.2
FixedReset Prem 6.41 % 5.47 % 118,435 3.41 8 0.2607 % 2,590.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2811 % 2,895.8
FixedReset Ins Non 5.33 % 5.86 % 61,400 14.06 14 0.6757 % 2,894.3
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -7.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %
CCS.PR.C Insurance Straight -2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.97 %
PVS.PR.K SplitShare -2.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.43
Bid-YTW : 5.06 %
BN.PF.E FixedReset Disc -1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.92
Evaluated at bid price : 18.92
Bid-YTW : 7.21 %
PVS.PR.J SplitShare -1.75 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 24.65
Bid-YTW : 4.90 %
GWO.PR.H Insurance Straight -1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.07 %
CU.PR.C FixedReset Disc -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.44 %
PWF.PR.S Perpetual-Discount -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 6.06 %
MFC.PR.C Insurance Straight -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.77 %
ENB.PR.P FixedReset Disc 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.87
Evaluated at bid price : 19.87
Bid-YTW : 6.99 %
ENB.PF.G FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 7.07 %
ENB.PR.F FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.23
Evaluated at bid price : 19.23
Bid-YTW : 7.10 %
PWF.PR.P FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 16.21
Evaluated at bid price : 16.21
Bid-YTW : 6.78 %
ENB.PR.B FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.63
Evaluated at bid price : 18.63
Bid-YTW : 7.12 %
POW.PR.G Perpetual-Discount 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.09
Evaluated at bid price : 23.35
Bid-YTW : 6.07 %
IFC.PR.I Insurance Straight 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.86
Evaluated at bid price : 23.30
Bid-YTW : 5.87 %
ENB.PF.K FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.03
Evaluated at bid price : 24.05
Bid-YTW : 6.31 %
FTS.PR.K FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.07 %
ENB.PR.N FixedReset Disc 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.77
Evaluated at bid price : 22.08
Bid-YTW : 6.60 %
TD.PF.I FixedReset Prem 1.79 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.55
Bid-YTW : 5.54 %
MFC.PR.J FixedReset Ins Non 1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.28
Evaluated at bid price : 24.65
Bid-YTW : 5.62 %
GWO.PR.I Insurance Straight 2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.85 %
MFC.PR.I FixedReset Ins Non 5.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.28
Evaluated at bid price : 24.43
Bid-YTW : 5.86 %
CU.PR.F Perpetual-Discount 17.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 4.92 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PF.G FixedReset Disc 118,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 7.07 %
ENB.PF.A FixedReset Disc 99,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 7.08 %
BN.PF.G FixedReset Disc 91,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.95 %
ENB.PR.Y FixedReset Disc 54,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 7.08 %
CU.PR.C FixedReset Disc 53,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.44 %
ENB.PF.C FixedReset Disc 47,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 7.10 %
There were 13 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.K FixedReset Disc Quote: 20.95 – 22.84
Spot Rate : 1.8900
Average : 1.0976

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.07 %
SLF.PR.E Insurance Straight Quote: 18.90 – 21.20
Spot Rate : 2.3000
Average : 1.5694

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %
MFC.PR.M FixedReset Ins Non Quote: 21.15 – 22.98
Spot Rate : 1.8300
Average : 1.4668

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.31 %
SLF.PR.C Insurance Straight Quote: 19.95 – 21.45
Spot Rate : 1.5000
Average : 1.1372

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.67 %
IFC.PR.C FixedReset Ins Non Quote: 23.12 – 24.12
Spot Rate : 1.0000
Average : 0.6523

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.67
Evaluated at bid price : 23.12
Bid-YTW : 5.84 %
PVS.PR.K SplitShare Quote: 24.43 – 25.65
Spot Rate : 1.2200
Average : 0.9099

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.43
Bid-YTW : 5.06 %