Category: Market Action

Market Action

March 11, 2024

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 0.4049 % 2,368.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4049 % 4,542.0
Floater 10.16 % 10.50 % 41,427 9.01 1 0.4049 % 2,617.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.0724 % 3,406.3
SplitShare 4.94 % 7.21 % 43,915 1.85 7 0.0724 % 4,067.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0724 % 3,173.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.2281 % 2,650.6
Perpetual-Discount 6.48 % 6.69 % 49,595 12.88 31 0.2281 % 2,890.4
FixedReset Disc 5.42 % 7.07 % 105,932 12.58 59 0.4465 % 2,436.2
Insurance Straight 6.37 % 6.52 % 55,747 13.24 22 -0.7154 % 2,824.8
FloatingReset 9.92 % 10.06 % 30,864 9.37 3 0.1320 % 2,601.9
FixedReset Prem 6.99 % 6.90 % 156,178 12.44 1 0.6000 % 2,499.4
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4465 % 2,490.3
FixedReset Ins Non 5.52 % 7.20 % 74,576 12.54 14 -0.3475 % 2,574.7
Performance Highlights
Issue Index Change Notes
GWO.PR.T Insurance Straight -14.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 7.59 %
SLF.PR.H FixedReset Ins Non -5.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.31 %
BN.PF.F FixedReset Disc -4.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 18.26
Evaluated at bid price : 18.26
Bid-YTW : 8.74 %
MFC.PR.Q FixedReset Ins Non -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 7.17 %
MFC.PR.C Insurance Straight -3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 6.28 %
BMO.PR.S FixedReset Disc -3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 22.27
Evaluated at bid price : 23.00
Bid-YTW : 6.31 %
BN.PF.B FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 19.57
Evaluated at bid price : 19.57
Bid-YTW : 7.97 %
IFC.PR.C FixedReset Ins Non 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 7.34 %
MFC.PR.K FixedReset Ins Non 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.76
Evaluated at bid price : 22.15
Bid-YTW : 6.64 %
RY.PR.M FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.90 %
MFC.PR.F FixedReset Ins Non 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 14.80
Evaluated at bid price : 14.80
Bid-YTW : 7.60 %
FTS.PR.G FixedReset Disc 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.39
Evaluated at bid price : 21.39
Bid-YTW : 6.77 %
PWF.PR.P FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 14.40
Evaluated at bid price : 14.40
Bid-YTW : 8.16 %
IFC.PR.F Insurance Straight 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.55 %
ELF.PR.H Perpetual-Discount 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.47 %
PWF.PR.G Perpetual-Discount 1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.94
Evaluated at bid price : 22.17
Bid-YTW : 6.75 %
BIP.PR.A FixedReset Disc 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 9.04 %
TD.PF.E FixedReset Disc 2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.53
Evaluated at bid price : 21.53
Bid-YTW : 7.05 %
BMO.PR.Y FixedReset Disc 7.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.92 %
TD.PF.A FixedReset Disc 7.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.65
Evaluated at bid price : 22.05
Bid-YTW : 6.45 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.C FixedReset Disc 58,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.63 %
RY.PR.Z FixedReset Disc 56,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.49
Evaluated at bid price : 21.80
Bid-YTW : 6.55 %
NA.PR.G FixedReset Disc 55,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 23.13
Evaluated at bid price : 24.85
Bid-YTW : 6.53 %
BMO.PR.E FixedReset Disc 52,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 23.07
Evaluated at bid price : 24.67
Bid-YTW : 6.41 %
NA.PR.S FixedReset Disc 45,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.50
Evaluated at bid price : 21.82
Bid-YTW : 6.78 %
BMO.PR.T FixedReset Disc 38,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.83
Evaluated at bid price : 22.30
Bid-YTW : 6.38 %
There were 11 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
GWO.PR.T Insurance Straight Quote: 17.05 – 19.91
Spot Rate : 2.8600
Average : 1.6358

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 7.59 %
MFC.PR.N FixedReset Ins Non Quote: 19.22 – 21.00
Spot Rate : 1.7800
Average : 1.2380

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 19.22
Evaluated at bid price : 19.22
Bid-YTW : 7.36 %
SLF.PR.H FixedReset Ins Non Quote: 17.75 – 18.95
Spot Rate : 1.2000
Average : 0.8918

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.31 %
MFC.PR.Q FixedReset Ins Non Quote: 21.00 – 21.84
Spot Rate : 0.8400
Average : 0.5599

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 7.17 %
SLF.PR.G FixedReset Ins Non Quote: 14.67 – 15.40
Spot Rate : 0.7300
Average : 0.4589

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 14.67
Evaluated at bid price : 14.67
Bid-YTW : 7.88 %
BMO.PR.S FixedReset Disc Quote: 23.00 – 23.77
Spot Rate : 0.7700
Average : 0.5087

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-11
Maturity Price : 22.27
Evaluated at bid price : 23.00
Bid-YTW : 6.31 %
Market Action

March 8, 2024

Jobs, jobs, jobs!

Employers added 275,000 jobs in February, the Labor Department reported Friday, in another month that exceeded expectations.

It was the third straight month of gains above 200,000, and the 38th consecutive month of growth — fresh evidence that after surging back from the pandemic shutdowns, America’s jobs engine still has plenty of steam.
…
Average hourly earnings rose by 4.3 percent over the year, although the pace of increases has been fading.

… and in the frozen North:

Canada’s labour market is getting a helping hand from population growth as the economy added 41,000 jobs in February.

Statistics Canada also reported on Friday that the unemployment rate ticked up to 5.8 per cent.

Job gains, which were driven by full-time employment, were spread across several industries in the services-producing sector, with the strongest growth in accommodation and food services.

The February increase comes after similar stronger-than-expected job gains in January.
…
Meanwhile, wages continue to grow rapidly in Canada. Average hourly wages were up 5 per cent from a year ago, down from a rate of 5.3 per cent in January.

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 0.4065 % 2,358.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4065 % 4,523.7
Floater 10.20 % 10.54 % 41,978 9.00 1 0.4065 % 2,607.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.2964 % 3,403.8
SplitShare 4.95 % 7.19 % 45,712 1.86 7 0.2964 % 4,064.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2964 % 3,171.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.0016 % 2,644.6
Perpetual-Discount 6.50 % 6.68 % 48,274 12.89 31 -0.0016 % 2,883.8
FixedReset Disc 5.45 % 7.12 % 106,998 12.48 59 -0.1556 % 2,425.4
Insurance Straight 6.32 % 6.49 % 52,321 13.29 22 -0.0669 % 2,845.1
FloatingReset 9.93 % 10.09 % 31,919 9.41 3 -0.0754 % 2,598.4
FixedReset Prem 7.03 % 6.94 % 158,256 12.40 1 0.0000 % 2,484.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1556 % 2,479.3
FixedReset Ins Non 5.50 % 7.08 % 75,577 12.56 14 0.3449 % 2,583.6
Performance Highlights
Issue Index Change Notes
BMO.PR.Y FixedReset Disc -6.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 7.40 %
MFC.PR.B Insurance Straight -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 6.15 %
CU.PR.I FixedReset Disc -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 21.71
Evaluated at bid price : 22.16
Bid-YTW : 7.76 %
ELF.PR.H Perpetual-Discount -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 21.26
Evaluated at bid price : 21.26
Bid-YTW : 6.59 %
SLF.PR.H FixedReset Ins Non 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.95 %
FTS.PR.H FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 14.15
Evaluated at bid price : 14.15
Bid-YTW : 8.29 %
IFC.PR.E Insurance Straight 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 6.51 %
FFH.PR.G FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 16.74
Evaluated at bid price : 16.74
Bid-YTW : 8.62 %
IFC.PR.A FixedReset Ins Non 3.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 18.57
Evaluated at bid price : 18.57
Bid-YTW : 7.01 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.S FixedReset Disc 116,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 22.65
Evaluated at bid price : 23.75
Bid-YTW : 6.09 %
BMO.PR.Y FixedReset Disc 90,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 7.40 %
FTS.PR.M FixedReset Disc 51,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 7.94 %
GWO.PR.N FixedReset Ins Non 50,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 13.71
Evaluated at bid price : 13.71
Bid-YTW : 8.01 %
GWO.PR.G Insurance Straight 34,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.07
Evaluated at bid price : 20.07
Bid-YTW : 6.50 %
PWF.PR.E Perpetual-Discount 30,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.72 %
There were 7 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.Y FixedReset Disc Quote: 20.01 – 21.65
Spot Rate : 1.6400
Average : 1.1706

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 7.40 %
MFC.PR.N FixedReset Ins Non Quote: 19.22 – 20.25
Spot Rate : 1.0300
Average : 0.6437

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 19.22
Evaluated at bid price : 19.22
Bid-YTW : 7.36 %
TD.PF.A FixedReset Disc Quote: 20.50 – 23.07
Spot Rate : 2.5700
Average : 2.1971

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.96 %
BN.PR.R FixedReset Disc Quote: 14.90 – 15.70
Spot Rate : 0.8000
Average : 0.5100

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 9.08 %
TD.PF.J FixedReset Disc Quote: 22.70 – 23.58
Spot Rate : 0.8800
Average : 0.5991

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 22.15
Evaluated at bid price : 22.70
Bid-YTW : 6.74 %
GWO.PR.P Insurance Straight Quote: 20.15 – 20.78
Spot Rate : 0.6300
Average : 0.4244

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-08
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.72 %
Market Action

March 7, 2024

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 -0.1623 % 2,349.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1623 % 4,505.3
Floater 10.24 % 10.58 % 42,541 8.97 1 -0.1623 % 2,596.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.0545 % 3,393.7
SplitShare 4.96 % 7.40 % 45,220 1.86 7 0.0545 % 4,052.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0545 % 3,162.2
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1709 % 2,644.6
Perpetual-Discount 6.50 % 6.69 % 46,904 12.89 31 0.1709 % 2,883.8
FixedReset Disc 5.44 % 7.22 % 111,363 12.50 59 0.2088 % 2,429.2
Insurance Straight 6.32 % 6.50 % 53,045 13.27 22 0.6172 % 2,847.0
FloatingReset 9.95 % 10.14 % 32,082 9.38 3 -0.0377 % 2,600.4
FixedReset Prem 7.03 % 7.02 % 160,721 12.33 1 -0.2394 % 2,484.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2088 % 2,483.1
FixedReset Ins Non 5.52 % 7.33 % 76,419 12.29 14 0.3801 % 2,574.8
Performance Highlights
Issue Index Change Notes
TD.PF.A FixedReset Disc -9.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.09 %
PWF.PR.G Perpetual-Discount -2.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.36
Evaluated at bid price : 21.63
Bid-YTW : 6.92 %
MFC.PR.C Insurance Straight -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 18.63
Evaluated at bid price : 18.63
Bid-YTW : 6.07 %
NA.PR.E FixedReset Disc -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.85
Evaluated at bid price : 22.25
Bid-YTW : 6.87 %
BN.PR.M Perpetual-Discount -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 17.66
Evaluated at bid price : 17.66
Bid-YTW : 6.88 %
BMO.PR.E FixedReset Disc -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 23.05
Evaluated at bid price : 24.62
Bid-YTW : 6.51 %
TD.PF.J FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 22.18
Evaluated at bid price : 22.75
Bid-YTW : 6.81 %
GWO.PR.S Insurance Straight 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 20.12
Evaluated at bid price : 20.12
Bid-YTW : 6.54 %
RY.PR.J FixedReset Disc 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 7.13 %
FFH.PR.I FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 17.71
Evaluated at bid price : 17.71
Bid-YTW : 8.63 %
CU.PR.G Perpetual-Discount 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.49 %
CU.PR.J Perpetual-Discount 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 18.21
Evaluated at bid price : 18.21
Bid-YTW : 6.58 %
GWO.PR.H Insurance Straight 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 18.84
Evaluated at bid price : 18.84
Bid-YTW : 6.45 %
ELF.PR.H Perpetual-Discount 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.27
Evaluated at bid price : 21.54
Bid-YTW : 6.49 %
CM.PR.O FixedReset Disc 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 22.14
Evaluated at bid price : 22.80
Bid-YTW : 6.43 %
MFC.PR.Q FixedReset Ins Non 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.48
Evaluated at bid price : 21.75
Bid-YTW : 7.00 %
CM.PR.Q FixedReset Disc 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.39
Evaluated at bid price : 21.70
Bid-YTW : 7.00 %
BN.PF.J FixedReset Disc 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 8.04 %
FTS.PR.F Perpetual-Discount 2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 6.19 %
GWO.PR.T Insurance Straight 3.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.49 %
SLF.PR.H FixedReset Ins Non 4.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.14 %
IAF.PR.B Insurance Straight 7.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.36 %
TD.PF.E FixedReset Disc 13.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 7.34 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.O FixedReset Disc 127,767 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 22.14
Evaluated at bid price : 22.80
Bid-YTW : 6.43 %
TD.PF.L FixedReset Disc 72,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 23.96
Evaluated at bid price : 24.90
Bid-YTW : 6.93 %
BMO.PR.T FixedReset Disc 69,253 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.90
Evaluated at bid price : 22.41
Bid-YTW : 6.47 %
BMO.PR.S FixedReset Disc 56,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 22.67
Evaluated at bid price : 23.80
Bid-YTW : 6.19 %
FTS.PR.M FixedReset Disc 51,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 18.57
Evaluated at bid price : 18.57
Bid-YTW : 8.10 %
NA.PR.S FixedReset Disc 30,360 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.36
Evaluated at bid price : 21.63
Bid-YTW : 6.97 %
There were 15 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.A FixedReset Disc Quote: 20.50 – 23.25
Spot Rate : 2.7500
Average : 1.7881

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.09 %
CU.PR.E Perpetual-Discount Quote: 18.93 – 20.70
Spot Rate : 1.7700
Average : 1.4556

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 18.93
Evaluated at bid price : 18.93
Bid-YTW : 6.53 %
PWF.PR.G Perpetual-Discount Quote: 21.63 – 22.30
Spot Rate : 0.6700
Average : 0.4799

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 21.36
Evaluated at bid price : 21.63
Bid-YTW : 6.92 %
IFC.PR.K Insurance Straight Quote: 20.21 – 20.75
Spot Rate : 0.5400
Average : 0.3520

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 6.64 %
BN.PF.D Perpetual-Discount Quote: 18.02 – 18.58
Spot Rate : 0.5600
Average : 0.3797

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 18.02
Evaluated at bid price : 18.02
Bid-YTW : 6.96 %
PWF.PF.A Perpetual-Discount Quote: 17.16 – 17.74
Spot Rate : 0.5800
Average : 0.4194

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-07
Maturity Price : 17.16
Evaluated at bid price : 17.16
Bid-YTW : 6.66 %
Market Action

March 6, 2024

No surprises from the BoC:

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening.

Global economic growth slowed in the fourth quarter. US GDP growth also slowed but remained surprisingly robust and broad-based, with solid contributions from consumption and exports. Euro area economic growth was flat at the end of the year after contracting in the third quarter. Inflation in the United States and the euro area continued to ease. Bond yields have increased since January while corporate credit spreads have narrowed. Equity markets have risen sharply. Global oil prices are slightly higher than what was assumed in the January Monetary Policy Report (MPR).

In Canada, the economy grew in the fourth quarter by more than expected, although the pace remained weak and below potential. Real GDP expanded by 1% after contracting 0.5% in the third quarter. Consumption was up a modest 1%, and final domestic demand contracted with a large decline in business investment. A strong increase in exports boosted growth. Employment continues to grow more slowly than the population, and there are now some signs that wage pressures may be easing. Overall, the data point to an economy in modest excess supply.

CPI inflation eased to 2.9% in January, as goods price inflation moderated further. Shelter price inflation remains elevated and is the biggest contributor to inflation. Underlying inflationary pressures persist: year-over-year and three-month measures of core inflation are in the 3% to 3.5% range, and the share of CPI components growing above 3% declined but is still above the historical average. The Bank continues to expect inflation to remain close to 3% during the first half of this year before gradually easing.

Governing Council decided to hold the policy rate at 5% and to continue to normalize the Bank’s balance sheet. The Council is still concerned about risks to the outlook for inflation, particularly the persistence in underlying inflation. Governing Council wants to see further and sustained easing in core inflation and continues to focus on the balance between demand and supply in the economy, inflation expectations, wage growth, and corporate pricing behaviour. The Bank remains resolute in its commitment to restoring price stability for Canadians.

PerpetualDiscounts now yield 6.70%, equivalent to 8.71% interest at the standard equivalency factor of 1.3x. Long corporates yielded 5.03% on 2024-3-5 and since then the closing price has changed from 15.24 to 15.29, an increase of 33bp with a duration (BMO doesn’t specify Macaulay or Modified; I will assume Modified) of 12.43, which implies a decrease in yield of 3bp, to 5.00%. Therefore, the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened to 370bp from the 360bp reported February 21.

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 0.0812 % 2,352.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0812 % 4,512.7
Floater 10.23 % 10.56 % 42,559 8.99 1 0.0812 % 2,600.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.2536 % 3,391.9
SplitShare 4.96 % 7.50 % 45,084 1.87 7 -0.2536 % 4,050.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2536 % 3,160.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0428 % 2,640.1
Perpetual-Discount 6.51 % 6.70 % 47,338 12.87 31 0.0428 % 2,878.9
FixedReset Disc 5.45 % 7.21 % 111,306 12.25 59 0.3955 % 2,424.1
Insurance Straight 6.35 % 6.54 % 60,562 13.23 22 -0.0325 % 2,829.6
FloatingReset 9.95 % 10.12 % 33,376 9.38 3 -0.2630 % 2,601.4
FixedReset Prem 7.01 % 7.00 % 157,943 12.35 1 0.0000 % 2,490.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3955 % 2,477.9
FixedReset Ins Non 5.54 % 7.37 % 77,096 12.34 14 -0.8322 % 2,565.0
Performance Highlights
Issue Index Change Notes
TD.PF.E FixedReset Disc -12.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.28 %
IAF.PR.B Insurance Straight -6.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 5.76 %
SLF.PR.H FixedReset Ins Non -5.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.43 %
IFC.PR.A FixedReset Ins Non -4.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 17.94
Evaluated at bid price : 17.94
Bid-YTW : 7.37 %
SLF.PR.G FixedReset Ins Non -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 8.13 %
PVS.PR.J SplitShare -1.54 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 22.40
Bid-YTW : 7.50 %
FTS.PR.F Perpetual-Discount -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.33 %
GWO.PR.N FixedReset Ins Non -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 8.16 %
BN.PF.J FixedReset Disc -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 8.18 %
NA.PR.S FixedReset Disc -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.44
Evaluated at bid price : 21.44
Bid-YTW : 7.04 %
CU.PR.J Perpetual-Discount -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 17.99
Evaluated at bid price : 17.99
Bid-YTW : 6.66 %
BN.PF.G FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 17.16
Evaluated at bid price : 17.16
Bid-YTW : 9.06 %
GWO.PR.T Insurance Straight -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 19.19
Evaluated at bid price : 19.19
Bid-YTW : 6.73 %
PVS.PR.I SplitShare -1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-10-31
Maturity Price : 25.00
Evaluated at bid price : 23.86
Bid-YTW : 7.77 %
FTS.PR.M FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.11 %
BN.PF.H FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 8.63 %
CU.PR.C FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 7.62 %
BIP.PR.A FixedReset Disc 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 9.34 %
IFC.PR.F Insurance Straight 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.66 %
RY.PR.M FixedReset Disc 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 7.11 %
TD.PF.D FixedReset Disc 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 7.16 %
POW.PR.A Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 6.70 %
CM.PR.P FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.86 %
BMO.PR.T FixedReset Disc 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.76
Evaluated at bid price : 22.20
Bid-YTW : 6.53 %
GWO.PR.Y Insurance Straight 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.41 %
GWO.PR.S Insurance Straight 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 19.89
Evaluated at bid price : 19.89
Bid-YTW : 6.62 %
BN.PF.I FixedReset Disc 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 20.36
Evaluated at bid price : 20.36
Bid-YTW : 8.72 %
TD.PF.C FixedReset Disc 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.37
Evaluated at bid price : 21.37
Bid-YTW : 6.77 %
GWO.PR.G Insurance Straight 2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 19.97
Evaluated at bid price : 19.97
Bid-YTW : 6.53 %
BMO.PR.W FixedReset Disc 3.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.71 %
BMO.PR.S FixedReset Disc 7.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 22.67
Evaluated at bid price : 23.80
Bid-YTW : 6.19 %
TD.PF.A FixedReset Disc 10.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 22.10
Evaluated at bid price : 22.75
Bid-YTW : 6.35 %
Volume Highlights
Issue Index Shares
Traded		 Notes
MFC.PR.I FixedReset Ins Non 66,016 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.75
Evaluated at bid price : 22.05
Bid-YTW : 7.19 %
CU.PR.I FixedReset Disc 54,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 22.17
Evaluated at bid price : 22.50
Bid-YTW : 7.76 %
TD.PF.L FixedReset Disc 42,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 23.95
Evaluated at bid price : 24.89
Bid-YTW : 6.93 %
BMO.PR.T FixedReset Disc 39,591 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.76
Evaluated at bid price : 22.20
Bid-YTW : 6.53 %
MFC.PR.F FixedReset Ins Non 34,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 7.84 %
BN.PF.B FixedReset Disc 32,940 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 8.06 %
There were 14 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.T FixedReset Disc Quote: 22.20 – 24.75
Spot Rate : 2.5500
Average : 1.4525

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 21.76
Evaluated at bid price : 22.20
Bid-YTW : 6.53 %
CU.PR.E Perpetual-Discount Quote: 18.95 – 20.70
Spot Rate : 1.7500
Average : 1.1108

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.52 %
IAF.PR.B Insurance Straight Quote: 20.01 – 21.70
Spot Rate : 1.6900
Average : 1.0880

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 5.76 %
SLF.PR.H FixedReset Ins Non Quote: 17.75 – 19.20
Spot Rate : 1.4500
Average : 1.0921

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 7.43 %
IFC.PR.A FixedReset Ins Non Quote: 17.94 – 18.99
Spot Rate : 1.0500
Average : 0.7191

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 17.94
Evaluated at bid price : 17.94
Bid-YTW : 7.37 %
IFC.PR.C FixedReset Ins Non Quote: 19.38 – 20.15
Spot Rate : 0.7700
Average : 0.5060

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-06
Maturity Price : 19.38
Evaluated at bid price : 19.38
Bid-YTW : 7.53 %
Market Action

March 5, 2024

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 -0.7258 % 2,350.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.7258 % 4,509.0
Floater 10.24 % 10.56 % 44,205 8.99 1 -0.7258 % 2,598.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.1814 % 3,400.5
SplitShare 4.95 % 7.23 % 46,734 1.87 7 0.1814 % 4,060.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1814 % 3,168.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.2225 % 2,639.0
Perpetual-Discount 6.51 % 6.71 % 47,648 12.86 31 0.2225 % 2,877.7
FixedReset Disc 5.48 % 7.25 % 112,879 12.46 59 0.0898 % 2,414.6
Insurance Straight 6.35 % 6.54 % 53,650 13.20 22 0.1906 % 2,830.5
FloatingReset 9.92 % 10.11 % 33,774 9.40 3 0.5667 % 2,608.2
FixedReset Prem 7.01 % 7.00 % 160,276 12.35 1 0.1199 % 2,490.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0898 % 2,468.2
FixedReset Ins Non 5.49 % 7.22 % 74,957 12.42 14 0.7975 % 2,586.5
Performance Highlights
Issue Index Change Notes
TD.PF.A FixedReset Disc -8.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.08 %
BMO.PR.S FixedReset Disc -6.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.67
Evaluated at bid price : 22.05
Bid-YTW : 6.73 %
GWO.PR.S Insurance Straight -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.73 %
IFC.PR.F Insurance Straight -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 6.74 %
NA.PR.S FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.41
Evaluated at bid price : 21.70
Bid-YTW : 6.94 %
NA.PR.E FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 22.02
Evaluated at bid price : 22.50
Bid-YTW : 6.79 %
MFC.PR.M FixedReset Ins Non 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 7.50 %
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 : 22.75
Bid-YTW : 7.06 %
MFC.PR.J FixedReset Ins Non 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.86
Evaluated at bid price : 22.25
Bid-YTW : 6.95 %
BN.PF.J FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 8.08 %
PWF.PR.E Perpetual-Discount 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.82
Evaluated at bid price : 20.82
Bid-YTW : 6.71 %
FTS.PR.M FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 8.02 %
CU.PR.J Perpetual-Discount 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 6.58 %
NA.PR.W FixedReset Disc 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.03
Evaluated at bid price : 20.03
Bid-YTW : 7.20 %
MFC.PR.F FixedReset Ins Non 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 7.84 %
BN.PR.Z FixedReset Disc 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 19.92
Evaluated at bid price : 19.92
Bid-YTW : 8.24 %
SLF.PR.H FixedReset Ins Non 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 7.05 %
CM.PR.P FixedReset Disc 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.96 %
RY.PR.O Perpetual-Discount 1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.88
Evaluated at bid price : 22.16
Bid-YTW : 5.56 %
BIP.PR.A FixedReset Disc 2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 9.44 %
BMO.PR.Y FixedReset Disc 3.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 7.03 %
GWO.PR.T Insurance Straight 3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.65 %
MFC.PR.Q FixedReset Ins Non 3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 7.12 %
GWO.PR.Y Insurance Straight 4.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.52 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.P FixedReset Disc 186,344 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.96 %
FTS.PR.H FixedReset Disc 140,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 8.67 %
BN.PR.M Perpetual-Discount 100,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 17.84
Evaluated at bid price : 17.84
Bid-YTW : 6.81 %
BMO.PR.Y FixedReset Disc 50,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 7.03 %
TD.PF.C FixedReset Disc 47,243 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.91 %
NA.PR.W FixedReset Disc 44,149 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.03
Evaluated at bid price : 20.03
Bid-YTW : 7.20 %
There were 19 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.A FixedReset Disc Quote: 20.50 – 22.80
Spot Rate : 2.3000
Average : 1.3185

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.08 %
BMO.PR.S FixedReset Disc Quote: 22.05 – 23.75
Spot Rate : 1.7000
Average : 0.9706

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 21.67
Evaluated at bid price : 22.05
Bid-YTW : 6.73 %
RY.PR.M FixedReset Disc Quote: 20.44 – 21.44
Spot Rate : 1.0000
Average : 0.6520

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.44
Evaluated at bid price : 20.44
Bid-YTW : 7.19 %
IFC.PR.F Insurance Straight Quote: 20.10 – 20.95
Spot Rate : 0.8500
Average : 0.6030

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 6.74 %
TD.PF.I FixedReset Disc Quote: 24.41 – 24.89
Spot Rate : 0.4800
Average : 0.2818

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 23.07
Evaluated at bid price : 24.41
Bid-YTW : 6.71 %
GWO.PR.G Insurance Straight Quote: 19.42 – 20.25
Spot Rate : 0.8300
Average : 0.6453

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-05
Maturity Price : 19.42
Evaluated at bid price : 19.42
Bid-YTW : 6.71 %
Market Action

March 4, 2024

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 0.8130 % 2,368.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.8130 % 4,542.0
Floater 10.16 % 10.48 % 44,013 9.05 1 0.8130 % 2,617.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.0363 % 3,394.4
SplitShare 4.96 % 7.37 % 48,451 1.87 7 0.0363 % 4,053.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0363 % 3,162.8
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0594 % 2,633.1
Perpetual-Discount 6.53 % 6.71 % 47,321 12.88 31 0.0594 % 2,871.3
FixedReset Disc 5.48 % 7.28 % 116,850 12.32 59 0.9110 % 2,412.4
Insurance Straight 6.36 % 6.55 % 62,002 13.15 22 0.5069 % 2,825.1
FloatingReset 9.98 % 10.19 % 35,133 9.38 3 0.1135 % 2,593.5
FixedReset Prem 7.02 % 7.01 % 154,395 12.35 1 -0.2789 % 2,487.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.9110 % 2,466.0
FixedReset Ins Non 5.54 % 7.37 % 75,460 12.20 14 0.2149 % 2,566.1
Performance Highlights
Issue Index Change Notes
MFC.PR.Q FixedReset Ins Non -3.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 7.40 %
GWO.PR.G Insurance Straight -2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.42
Evaluated at bid price : 19.42
Bid-YTW : 6.71 %
RY.PR.O Perpetual-Discount -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.45
Evaluated at bid price : 21.73
Bid-YTW : 5.67 %
MFC.PR.F FixedReset Ins Non -2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 14.35
Evaluated at bid price : 14.35
Bid-YTW : 7.97 %
BIP.PR.A FixedReset Disc -1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 17.77
Evaluated at bid price : 17.77
Bid-YTW : 9.63 %
BN.PF.I FixedReset Disc -1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 8.87 %
BIP.PR.E FixedReset Disc -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.92
Evaluated at bid price : 20.92
Bid-YTW : 7.89 %
IFC.PR.G FixedReset Ins Non -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 7.24 %
BIK.PR.A FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 22.66
Evaluated at bid price : 23.76
Bid-YTW : 7.90 %
IFC.PR.K Insurance Straight -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 6.64 %
CU.PR.G Perpetual-Discount -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 17.21
Evaluated at bid price : 17.21
Bid-YTW : 6.59 %
FTS.PR.J Perpetual-Discount -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.34 %
BN.PR.Z FixedReset Disc -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 8.39 %
SLF.PR.C Insurance Straight -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 5.96 %
MFC.PR.K FixedReset Ins Non 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.76
Evaluated at bid price : 22.15
Bid-YTW : 6.72 %
CM.PR.S FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 22.40
Evaluated at bid price : 22.40
Bid-YTW : 6.78 %
FTS.PR.G FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.90 %
ELF.PR.H Perpetual-Discount 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.53 %
NA.PR.E FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.86
Evaluated at bid price : 22.27
Bid-YTW : 6.86 %
BN.PR.M Perpetual-Discount 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.82 %
CM.PR.O FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.84
Evaluated at bid price : 22.31
Bid-YTW : 6.58 %
FTS.PR.K FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.53 %
POW.PR.D Perpetual-Discount 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.56 %
RY.PR.Z FixedReset Disc 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.62
Evaluated at bid price : 21.98
Bid-YTW : 6.61 %
SLF.PR.H FixedReset Ins Non 1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 7.17 %
TD.PF.A FixedReset Disc 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.94
Evaluated at bid price : 22.49
Bid-YTW : 6.42 %
NA.PR.S FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.48
Evaluated at bid price : 21.48
Bid-YTW : 7.02 %
TD.PF.C FixedReset Disc 1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.89 %
MFC.PR.M FixedReset Ins Non 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 7.57 %
SLF.PR.G FixedReset Ins Non 2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 14.80
Evaluated at bid price : 14.80
Bid-YTW : 7.97 %
RY.PR.H FixedReset Disc 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.92 %
BMO.PR.W FixedReset Disc 2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.95 %
TD.PF.B FixedReset Disc 2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 22.34
Evaluated at bid price : 23.15
Bid-YTW : 6.30 %
BN.PF.F FixedReset Disc 2.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.16
Evaluated at bid price : 19.16
Bid-YTW : 8.45 %
NA.PR.W FixedReset Disc 2.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 7.32 %
BMO.PR.T FixedReset Disc 2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.41
Evaluated at bid price : 21.70
Bid-YTW : 6.69 %
GWO.PR.N FixedReset Ins Non 3.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 14.05
Evaluated at bid price : 14.05
Bid-YTW : 7.99 %
CM.PR.Q FixedReset Disc 4.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.43
Evaluated at bid price : 21.43
Bid-YTW : 7.10 %
CM.PR.P FixedReset Disc 5.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.26
Evaluated at bid price : 20.26
Bid-YTW : 7.09 %
IFC.PR.E Insurance Straight 8.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.59 %
GWO.PR.T Insurance Straight 9.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.88 %
TD.PF.E FixedReset Disc 14.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 7.28 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.O FixedReset Disc 166,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.84
Evaluated at bid price : 22.31
Bid-YTW : 6.58 %
BMO.PR.T FixedReset Disc 116,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.41
Evaluated at bid price : 21.70
Bid-YTW : 6.69 %
BMO.PR.W FixedReset Disc 112,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.95 %
TD.PF.C FixedReset Disc 102,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.89 %
FTS.PR.H FixedReset Disc 82,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 13.72
Evaluated at bid price : 13.72
Bid-YTW : 8.71 %
RY.PR.J FixedReset Disc 81,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 7.29 %
There were 13 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.Y FixedReset Disc Quote: 20.79 – 23.47
Spot Rate : 2.6800
Average : 1.7401

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.79
Evaluated at bid price : 20.79
Bid-YTW : 7.24 %
GWO.PR.Y Insurance Straight Quote: 16.50 – 18.32
Spot Rate : 1.8200
Average : 1.2733

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.84 %
MFC.PR.Q FixedReset Ins Non Quote: 20.60 – 21.60
Spot Rate : 1.0000
Average : 0.6170

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 7.40 %
BN.PF.G FixedReset Disc Quote: 17.25 – 17.95
Spot Rate : 0.7000
Average : 0.4549

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 9.01 %
NA.PR.W FixedReset Disc Quote: 19.70 – 20.38
Spot Rate : 0.6800
Average : 0.4709

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 7.32 %
GWO.PR.G Insurance Straight Quote: 19.42 – 20.01
Spot Rate : 0.5900
Average : 0.4428

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-04
Maturity Price : 19.42
Evaluated at bid price : 19.42
Bid-YTW : 6.71 %
Market Action

March 1, 2024

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 -0.8969 % 2,349.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.8969 % 4,505.3
Floater 10.37 % 10.56 % 44,579 9.00 2 -0.8969 % 2,596.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.0484 % 3,393.1
SplitShare 4.96 % 7.34 % 50,428 1.88 7 0.0484 % 4,052.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0484 % 3,161.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.1547 % 2,631.6
Perpetual-Discount 6.53 % 6.73 % 44,535 12.87 33 -0.1547 % 2,869.6
FixedReset Disc 5.58 % 7.39 % 110,558 12.16 59 0.5801 % 2,390.6
Insurance Straight 6.45 % 6.54 % 61,359 13.22 21 -0.3601 % 2,810.9
FloatingReset 9.99 % 10.17 % 36,484 9.36 3 -0.2829 % 2,590.6
FixedReset Prem 7.00 % 7.02 % 154,764 12.35 1 0.1996 % 2,494.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.5801 % 2,443.7
FixedReset Ins Non 5.55 % 7.34 % 78,571 12.37 14 0.0566 % 2,560.6
Performance Highlights
Issue Index Change Notes
GWO.PR.Y Insurance Straight -5.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 16.56
Evaluated at bid price : 16.56
Bid-YTW : 6.81 %
BN.PR.K Floater -1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 12.01
Evaluated at bid price : 12.01
Bid-YTW : 10.82 %
CU.PR.E Perpetual-Discount -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.79
Evaluated at bid price : 18.79
Bid-YTW : 6.57 %
IFC.PR.K Insurance Straight -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 6.55 %
SLF.PR.G FixedReset Ins Non -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 14.49
Evaluated at bid price : 14.49
Bid-YTW : 8.21 %
FTS.PR.F Perpetual-Discount -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.23 %
MFC.PR.M FixedReset Ins Non -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 7.78 %
SLF.PR.D Insurance Straight -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.66
Evaluated at bid price : 18.66
Bid-YTW : 5.97 %
BN.PR.X FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 15.70
Evaluated at bid price : 15.70
Bid-YTW : 8.50 %
IFC.PR.C FixedReset Ins Non 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.38
Evaluated at bid price : 19.38
Bid-YTW : 7.57 %
GWO.PR.G Insurance Straight 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.88
Evaluated at bid price : 19.88
Bid-YTW : 6.55 %
RY.PR.Z FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.37
Evaluated at bid price : 21.64
Bid-YTW : 6.78 %
IFC.PR.G FixedReset Ins Non 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.52
Evaluated at bid price : 21.80
Bid-YTW : 7.16 %
TD.PF.A FixedReset Disc 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.70
Evaluated at bid price : 22.12
Bid-YTW : 6.59 %
BIP.PR.E FixedReset Disc 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 7.81 %
CM.PR.S FixedReset Disc 1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 22.15
Evaluated at bid price : 22.15
Bid-YTW : 6.89 %
BN.PF.I FixedReset Disc 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 8.76 %
TD.PF.C FixedReset Disc 1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.62
Evaluated at bid price : 20.62
Bid-YTW : 7.07 %
BN.PF.F FixedReset Disc 2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 8.72 %
CM.PR.O FixedReset Disc 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.64
Evaluated at bid price : 22.02
Bid-YTW : 6.72 %
BMO.PR.S FixedReset Disc 4.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 22.41
Evaluated at bid price : 23.27
Bid-YTW : 6.40 %
BMO.PR.Y FixedReset Disc 8.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 7.32 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.L FixedReset Disc 86,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 23.91
Evaluated at bid price : 24.85
Bid-YTW : 6.99 %
PWF.PR.P FixedReset Disc 67,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 14.25
Evaluated at bid price : 14.25
Bid-YTW : 8.46 %
BMO.PR.S FixedReset Disc 54,573 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 22.41
Evaluated at bid price : 23.27
Bid-YTW : 6.40 %
CM.PR.O FixedReset Disc 48,790 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.64
Evaluated at bid price : 22.02
Bid-YTW : 6.72 %
PWF.PR.F Perpetual-Discount 29,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.88
Evaluated at bid price : 19.88
Bid-YTW : 6.70 %
PWF.PR.H Perpetual-Discount 22,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.29
Evaluated at bid price : 21.56
Bid-YTW : 6.75 %
There were 8 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.C FixedReset Disc Quote: 20.62 – 22.95
Spot Rate : 2.3300
Average : 1.4365

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.62
Evaluated at bid price : 20.62
Bid-YTW : 7.07 %
CM.PR.O FixedReset Disc Quote: 22.02 – 23.92
Spot Rate : 1.9000
Average : 1.0803

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.64
Evaluated at bid price : 22.02
Bid-YTW : 6.72 %
CU.PR.E Perpetual-Discount Quote: 18.79 – 20.70
Spot Rate : 1.9100
Average : 1.1734

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.79
Evaluated at bid price : 18.79
Bid-YTW : 6.57 %
TD.PF.E FixedReset Disc Quote: 18.55 – 21.48
Spot Rate : 2.9300
Average : 2.2779

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.33 %
BMO.PR.W FixedReset Disc Quote: 20.30 – 22.50
Spot Rate : 2.2000
Average : 1.5775

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 7.16 %
RY.PR.J FixedReset Disc Quote: 20.86 – 22.15
Spot Rate : 1.2900
Average : 0.7664

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.86
Evaluated at bid price : 20.86
Bid-YTW : 7.39 %
Market Action

February 29, 2024

TXPR closed at 566.46, up 0.55% on the day. Volume today was 1.37-million, a little above the median of the past 21 trading days.

CPD closed at 11.34, up 1.25% on the day. Volume was 136,500, highest of the past 21 trading days.

ZPR closed at 9.64, up 0.84% on the day. Volume was 168,730, fourth-highest of the past 21 trading days.

Five-year Canada yields were down to 3.60%.

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 0.5328 % 2,370.2
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.5328 % 4,546.1
Floater 10.27 % 10.55 % 44,182 9.01 2 0.5328 % 2,619.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.0545 % 3,391.5
SplitShare 4.96 % 7.33 % 51,010 1.88 7 0.0545 % 4,050.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0545 % 3,160.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.2497 % 2,635.6
Perpetual-Discount 6.52 % 6.74 % 44,498 12.86 33 0.2497 % 2,874.0
FixedReset Disc 5.58 % 7.46 % 112,678 12.15 59 0.5768 % 2,376.8
Insurance Straight 6.43 % 6.49 % 63,856 13.25 21 -0.1101 % 2,821.0
FloatingReset 9.96 % 10.10 % 35,424 9.37 3 -0.0565 % 2,597.9
FixedReset Prem 7.01 % 7.04 % 156,433 12.34 1 0.1199 % 2,489.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.5768 % 2,429.6
FixedReset Ins Non 5.55 % 7.37 % 81,370 12.37 14 -0.3870 % 2,559.1
Performance Highlights
Issue Index Change Notes
GWO.PR.T Insurance Straight -8.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 7.57 %
TD.PF.E FixedReset Disc -8.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.32 %
BMO.PR.Y FixedReset Disc -4.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 7.96 %
SLF.PR.H FixedReset Ins Non -2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.37 %
CU.PR.I FixedReset Disc -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 22.18
Evaluated at bid price : 22.50
Bid-YTW : 7.79 %
IFC.PR.G FixedReset Ins Non -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 7.27 %
PWF.PR.T FixedReset Disc -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 7.35 %
PWF.PR.G Perpetual-Discount -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.94
Evaluated at bid price : 22.17
Bid-YTW : 6.74 %
BN.PF.G FixedReset Disc 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 17.17
Evaluated at bid price : 17.17
Bid-YTW : 9.10 %
GWO.PR.L Insurance Straight 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.44
Evaluated at bid price : 21.70
Bid-YTW : 6.51 %
BN.PF.C Perpetual-Discount 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 7.00 %
RY.PR.N Perpetual-Discount 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.91
Evaluated at bid price : 22.20
Bid-YTW : 5.54 %
CU.PR.C FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 7.69 %
BIP.PR.A FixedReset Disc 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 9.51 %
GWO.PR.Q Insurance Straight 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.71
Evaluated at bid price : 19.71
Bid-YTW : 6.54 %
RY.PR.H FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.46
Evaluated at bid price : 20.46
Bid-YTW : 7.19 %
RY.PR.S FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 22.09
Evaluated at bid price : 22.68
Bid-YTW : 6.64 %
BIP.PR.F FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.89
Evaluated at bid price : 20.89
Bid-YTW : 7.80 %
BN.PR.K Floater 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 12.22
Evaluated at bid price : 12.22
Bid-YTW : 10.63 %
CM.PR.P FixedReset Disc 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 7.50 %
TD.PF.B FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.90
Evaluated at bid price : 22.40
Bid-YTW : 6.58 %
BMO.PR.S FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.84
Evaluated at bid price : 22.30
Bid-YTW : 6.70 %
FTS.PR.M FixedReset Disc 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.15 %
NA.PR.S FixedReset Disc 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.08
Evaluated at bid price : 21.08
Bid-YTW : 7.21 %
GWO.PR.S Insurance Straight 1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 6.54 %
NA.PR.W FixedReset Disc 1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 7.53 %
RY.PR.Z FixedReset Disc 1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.88 %
TD.PF.C FixedReset Disc 1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.23
Evaluated at bid price : 20.23
Bid-YTW : 7.21 %
CM.PR.O FixedReset Disc 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.34
Evaluated at bid price : 21.34
Bid-YTW : 6.95 %
BMO.PR.W FixedReset Disc 2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 7.19 %
TD.PF.A FixedReset Disc 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.47
Evaluated at bid price : 21.80
Bid-YTW : 6.69 %
FTS.PR.F Perpetual-Discount 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 6.16 %
RY.PR.J FixedReset Disc 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 7.43 %
BMO.PR.T FixedReset Disc 3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.93
Evaluated at bid price : 20.93
Bid-YTW : 7.00 %
TD.PF.D FixedReset Disc 3.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 7.39 %
RY.PR.M FixedReset Disc 3.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.11
Evaluated at bid price : 20.11
Bid-YTW : 7.36 %
CM.PR.Q FixedReset Disc 3.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.46 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BMO.PR.T FixedReset Disc 84,375 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.93
Evaluated at bid price : 20.93
Bid-YTW : 7.00 %
GWO.PR.R Insurance Straight 65,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.51
Evaluated at bid price : 18.51
Bid-YTW : 6.49 %
TD.PF.D FixedReset Disc 63,607 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 7.39 %
BMO.PR.S FixedReset Disc 57,189 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 21.84
Evaluated at bid price : 22.30
Bid-YTW : 6.70 %
RY.PR.M FixedReset Disc 56,631 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.11
Evaluated at bid price : 20.11
Bid-YTW : 7.36 %
RY.PR.H FixedReset Disc 53,449 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.46
Evaluated at bid price : 20.46
Bid-YTW : 7.19 %
There were 23 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
GWO.PR.T Insurance Straight Quote: 17.05 – 20.59
Spot Rate : 3.5400
Average : 2.3598

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 17.05
Evaluated at bid price : 17.05
Bid-YTW : 7.57 %
TD.PF.E FixedReset Disc Quote: 18.55 – 21.11
Spot Rate : 2.5600
Average : 1.5630

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.32 %
BMO.PR.Y FixedReset Disc Quote: 19.01 – 20.95
Spot Rate : 1.9400
Average : 1.1037

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 7.96 %
SLF.PR.H FixedReset Ins Non Quote: 18.00 – 19.20
Spot Rate : 1.2000
Average : 0.9152

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.37 %
TD.PF.D FixedReset Disc Quote: 20.90 – 21.90
Spot Rate : 1.0000
Average : 0.7642

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 7.39 %
BN.PF.I FixedReset Disc Quote: 20.00 – 20.78
Spot Rate : 0.7800
Average : 0.5478

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-03-01
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 8.91 %
Market Action

February 28, 2024

Sorry this is late!

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices
V
alues are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)		 Median
YTW		 Median
Average
Trading< br>Value		 Median
Mod Dur
(YTW)		 Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.0
0		 0 -0.4894 % 2,357.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.4894 % 4,522.0
Floater 10.33 % 10.51 % 44,826 9.04 2 -0.4894 % 2,606.1
OpRet 0.00 % 0.
00 %		 0 0.00 0 0.1274 % 3,389.6
SplitShare 4.97 % 7.51 % 50,989 1.88 7 0.1274 % 4,047.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1274 % 3,158.4
Per
petual-Premium		 0.00 % 0.00 % 0 0.00 0 -0.1904 % 2,629.1
Perpetual-Discount 6.54 % 6.74
%		 44,899 12.85 33 -0.1904 % 2,866.9
FixedReset Disc 5.61 % 7.62 % 111,513 12.15 59 0.3868 % 2,363.2
Insurance Straight 6.42 % 6.54 % 59,095 13.19 21 -0.8252 % 2,82
4.1
FloatingReset 9.96 % 10.13 % 35,545 9.35 3 0.5877 % 2,599.4
FixedReset Prem 7.02 % 7.04 % 161,672 12.33 1 0.0000 % 2,486.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.3868 % 2,415.7
FixedReset Ins Non 5.53 % 7.22 % 80,103 12.34 14 0.045
1 %		 2,569.1
Performance Highlights
Issue Index Change Notes
CU.PR.D Perpetual-Discount -5.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.82 %
BN.PF.F FixedReset Disc -3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 8.94 %
FTS.PR.F Perpetual-Discount -2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.33 %
FTS.PR.M FixedReset Disc -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 8.29 %
BN.PR.K Floater -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 12.05
Evaluated at bid price : 12.05
Bid-YTW : 10.78 %
MIC.PR.A Perpetual-Discount -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.17 %
BN.PF.I FixedReset Disc -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 8.91 %
GWO.PR.S Insurance Straight -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.65 %
RY.PR.J FixedReset Disc 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 7.64 %
BMO.PR.Y FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.57 %
FFH.PR.I FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 8.82 %
CU.PR.C FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 7.77 %
BIP.PR.F FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 7.91 %
SLF.PR.H FixedReset Ins Non 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.20 %
MFC.PR.F FixedReset Ins Non 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 7.85 %
SLF.PR.J FloatingReset 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 9.91 %
RY.PR.H FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.22
Evaluated at bid price : 20.22
Bid-YTW : 7.28 %
PWF.PR.T FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.48
Evaluated at bid price : 20.48
Bid-YTW : 7.25 %
TD.PF.D FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 7.66 %
CM.PR.P FixedReset Disc 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.61 %
TD.PF.B FixedReset Disc 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 21.66
Evaluated at bid price : 22.05
Bid-YTW : 6.69 %
TD.PF.E FixedReset Disc 1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 7.62 %
GWO.PR.M Insurance Straight 1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 22.58
Evaluated at bid price : 22.83
Bid-YTW : 6.35 %
RY.PR.Z FixedReset Disc 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 7.01 %
POW.PR.C Perpetual-Discount 2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 6.54 %
BMO.PR.T FixedReset Disc 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 7.24 %
BMO.PR.S FixedReset Disc 3.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 21.59
Evaluated at bid price : 21.95
Bid-YTW : 6.81 %
TD.PF.A FixedReset Disc 3.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 21.26
Evaluated at bid price : 21.26
Bid-YTW : 6.88 %
BMO.PR.W FixedReset Disc 3.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.35 %
Volume Highlights
Issue Index Shares
Traded		 Notes
B
MO.PR.S		 FixedReset Disc 160,062 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 21.59
Evaluated at bid price : 21.95
Bid-YTW : 6.81 %
RY.PR.M FixedReset Disc 134,850 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.38
Evaluated at bid price : 19.38
Bid-YTW : 7.62 %
MFC.PR.F FixedReset Ins Non 91,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 7.85 %
NA.PR.S FixedReset Disc 47,150 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 7.34 %
MFC.PR.K FixedReset Ins Non 44,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 21.73
Evaluated at bid price : 22.10
Bid-YTW : 6.77 %
BMO.PR.T FixedReset Disc 37,940 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 7.24 %
There were 15 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.W FixedReset Disc Quote: 19.75 – 22.50
Spot Rate : 2.7500
Average : 1.5473


YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.35 %
BN.PF.F FixedReset Disc Quote: 18.25 – 20.00
Spot Rate : 1.7500
Average : 1.0450


YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 8.94 %
TD.PF.C FixedReset Disc Quote: 19.85 – 21.00
Spot Rate : 1.1500
Average : 0.6728


YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 7.34 %
RY.PR.M FixedReset Disc Quote: 19.38 – 20.49
Spot Rate : 1.1100
Average : 0.6676


YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 19.38
Evaluated at bid price : 19.38
Bid-YTW : 7.62 %
GWO.PR.T Insurance Straight Quote: 18.67 – 20.10
Spot Rate : 1.4300
Average : 1.0659


YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.67
Evaluated at bid price : 18.67
Bid-YTW : 6.91 %
CU.PR.D Perpetual-Discount Quote: 18.10 – 19.20
Spot Rate : 1.1000
Average : 0.7838


YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-28
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.82 %
Market Action

February 27, 2024

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 0.2453 % 2,369.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2453 % 4,544.3
Floater 10.28 % 10.54 % 46,359 9.02 2 0.2453 % 2,618.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.1944 % 3,385.3
SplitShare 4.97 % 7.50 % 47,190 1.89 7 0.1944 % 4,042.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1944 % 3,154.3
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.2301 % 2,634.1
Perpetual-Discount 6.52 % 6.74 % 46,744 12.86 33 -0.2301 % 2,872.3
FixedReset Disc 5.63 % 7.68 % 111,792 12.11 59 -0.0574 % 2,354.1
Insurance Straight 6.37 % 6.54 % 60,143 13.08 21 -0.1285 % 2,847.6
FloatingReset 10.01 % 10.16 % 35,955 9.34 3 -0.1892 % 2,584.2
FixedReset Prem 7.02 % 7.04 % 164,275 12.33 1 -0.5169 % 2,486.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.0574 % 2,406.4
FixedReset Ins Non 5.53 % 7.27 % 78,562 12.39 14 -1.1959 % 2,567.9
Performance Highlights
Issue Index Change Notes
GWO.PR.T Insurance Straight -5.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.92 %
POW.PR.C Perpetual-Discount -2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 6.69 %
RY.PR.Z FixedReset Disc -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.17 %
SLF.PR.H FixedReset Ins Non -1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.27 %
SLF.PR.G FixedReset Ins Non -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 14.87
Evaluated at bid price : 14.87
Bid-YTW : 8.00 %
TD.PF.E FixedReset Disc -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 19.92
Evaluated at bid price : 19.92
Bid-YTW : 7.76 %
BN.PR.X FixedReset Disc -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 8.60 %
GWO.PR.N FixedReset Ins Non -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 8.29 %
CU.PR.G Perpetual-Discount -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 17.41
Evaluated at bid price : 17.41
Bid-YTW : 6.51 %
CU.PR.C FixedReset Disc -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 7.85 %
BMO.PR.Y FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 7.64 %
BN.PF.B FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 19.56
Evaluated at bid price : 19.56
Bid-YTW : 8.17 %
BN.PF.I FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 8.80 %
PVS.PR.J SplitShare 1.34 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 22.70
Bid-YTW : 7.08 %
GWO.PR.S Insurance Straight 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.60 %
SLF.PR.J FloatingReset 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 16.09
Evaluated at bid price : 16.09
Bid-YTW : 10.04 %
SLF.PR.C Insurance Straight 7.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.86 %
Volume Highlights
Issue Index Shares
Traded		 Notes
SLF.PR.G FixedReset Ins Non 51,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 14.87
Evaluated at bid price : 14.87
Bid-YTW : 8.00 %
TD.PF.B FixedReset Disc 44,848 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 21.41
Evaluated at bid price : 21.70
Bid-YTW : 6.81 %
TD.PF.C FixedReset Disc 33,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 19.79
Evaluated at bid price : 19.79
Bid-YTW : 7.36 %
BN.PF.I FixedReset Disc 32,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 8.80 %
TD.PF.A FixedReset Disc 32,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.13 %
TD.PF.J FixedReset Disc 21,625 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 21.64
Evaluated at bid price : 21.95
Bid-YTW : 7.10 %
There were 12 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IFC.PR.E Insurance Straight Quote: 18.50 – 20.97
Spot Rate : 2.4700
Average : 1.9633

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 7.18 %
GWO.PR.T Insurance Straight Quote: 19.00 – 20.03
Spot Rate : 1.0300
Average : 0.6667

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.92 %
POW.PR.C Perpetual-Discount Quote: 22.00 – 22.76
Spot Rate : 0.7600
Average : 0.5111

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 6.69 %
SLF.PR.H FixedReset Ins Non Quote: 18.25 – 19.15
Spot Rate : 0.9000
Average : 0.6608

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 7.27 %
RY.PR.Z FixedReset Disc Quote: 20.50 – 21.01
Spot Rate : 0.5100
Average : 0.3130

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.17 %
MFC.PR.J FixedReset Ins Non Quote: 22.00 – 22.58
Spot Rate : 0.5800
Average : 0.3832

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2054-02-27
Maturity Price : 21.68
Evaluated at bid price : 22.00
Bid-YTW : 7.06 %