Category: Market Action

Market Action

July 17, 2023

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 -0.2625 % 2,202.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2625 % 4,223.7
Floater 11.05 % 11.26 % 44,412 8.62 1 -0.2625 % 2,434.1
OpRet 0.00 % 0.00 % 0 0.00 0 0.2944 % 3,293.2
SplitShare 5.12 % 8.37 % 42,144 2.40 7 0.2944 % 3,932.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2944 % 3,068.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.0485 % 2,532.3
Perpetual-Discount 6.73 % 6.89 % 41,655 12.72 28 -0.0485 % 2,761.3
FixedReset Disc 5.85 % 8.47 % 76,400 11.12 64 0.0569 % 2,131.5
Insurance Straight 6.67 % 6.82 % 50,786 12.78 19 -0.2795 % 2,695.0
FloatingReset 11.40 % 11.09 % 32,801 8.74 2 1.0903 % 2,408.2
FixedReset Prem 7.00 % 6.83 % 241,306 3.73 1 0.0000 % 2,309.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0569 % 2,178.8
FixedReset Ins Non 6.24 % 7.97 % 66,587 11.54 11 -0.2431 % 2,295.7
Performance Highlights
Issue Index Change Notes
PWF.PR.P FixedReset Disc -11.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 11.17
Evaluated at bid price : 11.17
Bid-YTW : 10.54 %
SLF.PR.E Insurance Straight -4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 6.59 %
MFC.PR.L FixedReset Ins Non -2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 8.77 %
PWF.PR.H Perpetual-Discount -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 20.63
Evaluated at bid price : 20.63
Bid-YTW : 7.01 %
BN.PF.G FixedReset Disc -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 10.57 %
PVS.PR.G SplitShare -1.45 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 23.06
Bid-YTW : 8.55 %
MFC.PR.C Insurance Straight -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 6.61 %
PWF.PR.S Perpetual-Discount -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.89 %
TRP.PR.D FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 15.26
Evaluated at bid price : 15.26
Bid-YTW : 10.03 %
BIK.PR.A FixedReset Disc 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 21.99
Evaluated at bid price : 22.56
Bid-YTW : 8.57 %
SLF.PR.J FloatingReset 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 14.95
Evaluated at bid price : 14.95
Bid-YTW : 11.09 %
FTS.PR.K FixedReset Disc 2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 16.74
Evaluated at bid price : 16.74
Bid-YTW : 8.81 %
BMO.PR.Y FixedReset Disc 2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 17.99
Evaluated at bid price : 17.99
Bid-YTW : 8.45 %
PVS.PR.K SplitShare 2.18 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 21.10
Bid-YTW : 7.98 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PVS.PR.K SplitShare 24,800 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 21.10
Bid-YTW : 7.98 %
TRP.PR.A FixedReset Disc 20,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 13.73
Evaluated at bid price : 13.73
Bid-YTW : 10.01 %
CU.PR.J Perpetual-Discount 15,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 17.36
Evaluated at bid price : 17.36
Bid-YTW : 6.97 %
TRP.PR.B FixedReset Disc 12,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 10.65 %
SLF.PR.J FloatingReset 11,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 14.95
Evaluated at bid price : 14.95
Bid-YTW : 11.09 %
There were 0 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: 17.10 – 24.00
Spot Rate : 6.9000
Average : 3.7483

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 8.73 %
BMO.PR.W FixedReset Disc Quote: 16.97 – 19.00
Spot Rate : 2.0300
Average : 1.1656

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 16.97
Evaluated at bid price : 16.97
Bid-YTW : 8.74 %
PWF.PR.P FixedReset Disc Quote: 11.17 – 13.03
Spot Rate : 1.8600
Average : 1.1572

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 11.17
Evaluated at bid price : 11.17
Bid-YTW : 10.54 %
SLF.PR.E Insurance Straight Quote: 17.26 – 18.10
Spot Rate : 0.8400
Average : 0.4873

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 6.59 %
NA.PR.W FixedReset Disc Quote: 16.55 – 17.29
Spot Rate : 0.7400
Average : 0.4758

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 8.81 %
TRP.PR.A FixedReset Disc Quote: 13.73 – 15.00
Spot Rate : 1.2700
Average : 1.0659

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-17
Maturity Price : 13.73
Evaluated at bid price : 13.73
Bid-YTW : 10.01 %
Market Action

July 14, 2023

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 0.7048 % 2,207.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.7048 % 4,234.8
Floater 11.02 % 11.22 % 44,171 8.66 1 0.7048 % 2,440.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.2134 % 3,283.5
SplitShare 5.14 % 8.40 % 41,432 2.42 7 0.2134 % 3,921.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2134 % 3,059.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.0224 % 2,533.5
Perpetual-Discount 6.72 % 6.89 % 41,158 12.73 28 -0.0224 % 2,762.7
FixedReset Disc 5.86 % 8.51 % 78,191 11.07 64 0.4031 % 2,130.3
Insurance Straight 6.65 % 6.81 % 52,928 12.79 19 -0.0339 % 2,702.6
FloatingReset 11.52 % 12.17 % 59,186 8.06 2 0.0000 % 2,382.2
FixedReset Prem 7.00 % 6.81 % 242,704 3.74 1 -0.1194 % 2,309.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4031 % 2,177.6
FixedReset Ins Non 6.33 % 8.11 % 68,796 11.28 11 0.5146 % 2,301.3
Performance Highlights
Issue Index Change Notes
BMO.PR.Y FixedReset Disc -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 17.62
Evaluated at bid price : 17.62
Bid-YTW : 8.61 %
TD.PF.L FixedReset Disc -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 22.53
Evaluated at bid price : 23.11
Bid-YTW : 7.59 %
BN.PR.X FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 14.40
Evaluated at bid price : 14.40
Bid-YTW : 9.34 %
FTS.PR.G FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 8.19 %
IFC.PR.C FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 17.83
Evaluated at bid price : 17.83
Bid-YTW : 8.19 %
BN.PF.J FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 8.46 %
TD.PF.E FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 8.46 %
BIP.PR.F FixedReset Disc 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 8.42 %
BIP.PR.E FixedReset Disc 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 8.34 %
BN.PF.G FixedReset Disc 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 14.82
Evaluated at bid price : 14.82
Bid-YTW : 10.41 %
PVS.PR.J SplitShare 1.89 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 21.60
Bid-YTW : 8.14 %
PWF.PR.G Perpetual-Discount 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 21.49
Evaluated at bid price : 21.49
Bid-YTW : 6.90 %
BIP.PR.B FixedReset Disc 2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 9.44 %
MFC.PR.I FixedReset Ins Non 2.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 20.93
Evaluated at bid price : 20.93
Bid-YTW : 7.84 %
TRP.PR.E FixedReset Disc 4.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 10.21 %
TRP.PR.C FixedReset Disc 5.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 11.70
Evaluated at bid price : 11.70
Bid-YTW : 9.98 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.C FixedReset Disc 187,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 11.70
Evaluated at bid price : 11.70
Bid-YTW : 9.98 %
GWO.PR.N FixedReset Ins Non 95,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 12.41
Evaluated at bid price : 12.41
Bid-YTW : 8.98 %
TRP.PR.B FixedReset Disc 39,220 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 10.64 %
BIP.PR.A FixedReset Disc 33,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 16.91
Evaluated at bid price : 16.91
Bid-YTW : 10.21 %
CM.PR.O FixedReset Disc 28,810 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 8.39 %
TD.PF.J FixedReset Disc 25,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 20.76
Evaluated at bid price : 20.76
Bid-YTW : 7.59 %
There were 11 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.A FixedReset Disc Quote: 13.63 – 15.00
Spot Rate : 1.3700
Average : 0.8420

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 13.63
Evaluated at bid price : 13.63
Bid-YTW : 10.07 %
CM.PR.P FixedReset Disc Quote: 16.70 – 17.90
Spot Rate : 1.2000
Average : 0.8015

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 8.70 %
CU.PR.G Perpetual-Discount Quote: 16.93 – 18.12
Spot Rate : 1.1900
Average : 0.9182

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 16.93
Evaluated at bid price : 16.93
Bid-YTW : 6.76 %
TD.PF.L FixedReset Disc Quote: 23.11 – 23.70
Spot Rate : 0.5900
Average : 0.3402

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 22.53
Evaluated at bid price : 23.11
Bid-YTW : 7.59 %
BN.PF.A FixedReset Disc Quote: 19.84 – 20.50
Spot Rate : 0.6600
Average : 0.4595

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 19.84
Evaluated at bid price : 19.84
Bid-YTW : 8.57 %
SLF.PR.J FloatingReset Quote: 14.65 – 15.28
Spot Rate : 0.6300
Average : 0.4564

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-14
Maturity Price : 14.65
Evaluated at bid price : 14.65
Bid-YTW : 11.31 %
Market Action

July 13, 2023

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 0.1765 % 2,192.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1765 % 4,205.1
Floater 11.10 % 11.30 % 44,902 8.61 1 0.1765 % 2,423.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.2833 % 3,276.5
SplitShare 5.15 % 8.53 % 42,113 2.42 7 0.2833 % 3,912.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2833 % 3,053.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0952 % 2,534.1
Perpetual-Discount 6.72 % 6.88 % 41,573 12.74 28 0.0952 % 2,763.3
FixedReset Disc 5.88 % 8.71 % 77,907 10.90 64 0.0173 % 2,121.7
Insurance Straight 6.65 % 6.82 % 52,297 12.79 19 0.5448 % 2,703.5
FloatingReset 11.41 % 12.04 % 59,303 8.14 2 -0.6768 % 2,382.2
FixedReset Prem 6.99 % 6.78 % 245,898 3.74 1 0.1195 % 2,311.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0173 % 2,168.8
FixedReset Ins Non 6.40 % 8.32 % 69,435 11.07 11 -0.0260 % 2,289.5
Performance Highlights
Issue Index Change Notes
TRP.PR.E FixedReset Disc -3.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 13.99
Evaluated at bid price : 13.99
Bid-YTW : 10.86 %
BIP.PR.B FixedReset Disc -3.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 9.83 %
MFC.PR.I FixedReset Ins Non -2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 20.34
Evaluated at bid price : 20.34
Bid-YTW : 8.19 %
PWF.PR.G Perpetual-Discount -2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 7.06 %
BIK.PR.A FixedReset Disc -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 21.73
Evaluated at bid price : 22.17
Bid-YTW : 8.87 %
RY.PR.N Perpetual-Discount -1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 5.95 %
BN.PF.H FixedReset Disc -1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 9.90 %
SLF.PR.J FloatingReset -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 14.65
Evaluated at bid price : 14.65
Bid-YTW : 11.18 %
BN.PF.J FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 19.77
Evaluated at bid price : 19.77
Bid-YTW : 8.68 %
CU.PR.G Perpetual-Discount 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.73 %
RY.PR.M FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 8.57 %
TRP.PR.B FixedReset Disc 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 10.75
Evaluated at bid price : 10.75
Bid-YTW : 10.89 %
PWF.PR.P FixedReset Disc 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 12.66
Evaluated at bid price : 12.66
Bid-YTW : 9.60 %
MFC.PR.L FixedReset Ins Non 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.77 %
BIP.PR.F FixedReset Disc 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 19.71
Evaluated at bid price : 19.71
Bid-YTW : 8.73 %
SLF.PR.C Insurance Straight 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.83
Evaluated at bid price : 17.83
Bid-YTW : 6.30 %
TRP.PR.C FixedReset Disc 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 11.14
Evaluated at bid price : 11.14
Bid-YTW : 10.66 %
CM.PR.Y FixedReset Disc 2.31 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 24.40
Bid-YTW : 7.39 %
IFC.PR.F Insurance Straight 3.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.80 %
TD.PF.E FixedReset Disc 5.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.93
Evaluated at bid price : 17.93
Bid-YTW : 8.71 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.J FixedReset Disc 42,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 20.72
Evaluated at bid price : 20.72
Bid-YTW : 7.71 %
TD.PF.E FixedReset Disc 37,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.93
Evaluated at bid price : 17.93
Bid-YTW : 8.71 %
BN.PF.I FixedReset Disc 32,554 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 9.51 %
CU.PR.C FixedReset Disc 25,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 8.84 %
GWO.PR.R Insurance Straight 20,643 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.67
Evaluated at bid price : 17.67
Bid-YTW : 6.87 %
RY.PR.H FixedReset Disc 19,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 17.46
Evaluated at bid price : 17.46
Bid-YTW : 8.76 %
There were 10 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CCS.PR.C Insurance Straight Quote: 18.80 – 19.80
Spot Rate : 1.0000
Average : 0.6589

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.72 %
MFC.PR.I FixedReset Ins Non Quote: 20.34 – 21.10
Spot Rate : 0.7600
Average : 0.4757

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 20.34
Evaluated at bid price : 20.34
Bid-YTW : 8.19 %
PVS.PR.J SplitShare Quote: 21.20 – 22.14
Spot Rate : 0.9400
Average : 0.6645

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 21.20
Bid-YTW : 8.61 %
PWF.PR.G Perpetual-Discount Quote: 21.00 – 21.65
Spot Rate : 0.6500
Average : 0.4436

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 7.06 %
BIP.PR.B FixedReset Disc Quote: 20.17 – 20.90
Spot Rate : 0.7300
Average : 0.5631

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 9.83 %
TRP.PR.E FixedReset Disc Quote: 13.99 – 14.70
Spot Rate : 0.7100
Average : 0.5451

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-13
Maturity Price : 13.99
Evaluated at bid price : 13.99
Bid-YTW : 10.86 %
Market Action

July 12, 2023

PerpetualDiscounts now yield 6.89%, equivalent to 8.96% interest at the standard equivalency factor of 1.3x. Long corporates yielded 5.27% on 2023-7-7 and since then the closing price has changed from 14.72 to 14.89, an increase of 115bp in price, with a Duration of 12.20 (BMO doesn’t specify whether this is Macaulay or Modified Duration; I will assume Modified) which implies a decrease in yield of about 9bp since 7/7 to 5.20%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has remained constant at about the 375bp reported July 5.

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 -0.6140 % 2,188.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.6140 % 4,197.7
Floater 10.73 % 10.92 % 44,088 8.87 1 -0.6140 % 2,419.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.5633 % 3,267.3
SplitShare 5.16 % 8.42 % 40,553 2.42 7 -0.5633 % 3,901.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.5633 % 3,044.4
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.1379 % 2,531.7
Perpetual-Discount 6.73 % 6.89 % 42,074 12.73 28 -0.1379 % 2,760.7
FixedReset Disc 5.88 % 8.69 % 77,346 10.93 64 0.2159 % 2,121.3
Insurance Straight 6.69 % 6.84 % 53,847 12.75 19 -0.2745 % 2,688.8
FloatingReset 11.33 % 11.03 % 28,181 8.79 2 0.1695 % 2,398.4
FixedReset Prem 7.00 % 6.80 % 246,522 3.75 1 0.0399 % 2,309.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2159 % 2,168.4
FixedReset Ins Non 6.40 % 8.32 % 69,251 11.07 11 0.1614 % 2,290.1
Performance Highlights
Issue Index Change Notes
TD.PF.E FixedReset Disc -5.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 17.01
Evaluated at bid price : 17.01
Bid-YTW : 9.15 %
IFC.PR.F Insurance Straight -3.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.05 %
PVS.PR.J SplitShare -2.99 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 21.10
Bid-YTW : 8.72 %
CM.PR.Y FixedReset Disc -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 23.31
Evaluated at bid price : 23.85
Bid-YTW : 7.75 %
BN.PF.H FixedReset Disc -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 9.75 %
BN.PF.I FixedReset Disc -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 9.48 %
GWO.PR.Y Insurance Straight -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 16.53
Evaluated at bid price : 16.53
Bid-YTW : 6.88 %
NA.PR.W FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 16.71
Evaluated at bid price : 16.71
Bid-YTW : 8.90 %
CM.PR.O FixedReset Disc 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 17.75
Evaluated at bid price : 17.75
Bid-YTW : 8.56 %
BMO.PR.Y FixedReset Disc 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 17.83
Evaluated at bid price : 17.83
Bid-YTW : 8.67 %
PWF.PR.T FixedReset Disc 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 8.47 %
RY.PR.J FixedReset Disc 2.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 8.51 %
TRP.PR.E FixedReset Disc 6.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 14.55
Evaluated at bid price : 14.55
Bid-YTW : 10.45 %
Volume Highlights
Issue Index Shares
Traded		 Notes
MFC.PR.K FixedReset Ins Non 51,036 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 19.68
Evaluated at bid price : 19.68
Bid-YTW : 7.96 %
TD.PF.D FixedReset Disc 39,705 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 8.62 %
RY.PR.J FixedReset Disc 34,145 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 8.51 %
TD.PF.M FixedReset Disc 25,935 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 23.21
Evaluated at bid price : 23.75
Bid-YTW : 7.76 %
RY.PR.S FixedReset Disc 23,975 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 19.82
Evaluated at bid price : 19.82
Bid-YTW : 8.07 %
SLF.PR.G FixedReset Ins Non 21,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 12.83
Evaluated at bid price : 12.83
Bid-YTW : 9.48 %
There were 16 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.E FixedReset Disc Quote: 17.01 – 18.10
Spot Rate : 1.0900
Average : 0.6749

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 17.01
Evaluated at bid price : 17.01
Bid-YTW : 9.15 %
IFC.PR.C FixedReset Disc Quote: 17.55 – 18.49
Spot Rate : 0.9400
Average : 0.5588

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 8.45 %
MFC.PR.N FixedReset Ins Non Quote: 16.35 – 17.33
Spot Rate : 0.9800
Average : 0.6123

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 9.18 %
IFC.PR.F Insurance Straight Quote: 19.00 – 19.85
Spot Rate : 0.8500
Average : 0.5780

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.05 %
PVS.PR.K SplitShare Quote: 20.75 – 21.50
Spot Rate : 0.7500
Average : 0.5406

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 20.75
Bid-YTW : 8.30 %
BN.PF.H FixedReset Disc Quote: 19.31 – 19.90
Spot Rate : 0.5900
Average : 0.4437

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-12
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 9.75 %
Market Action

July 11, 2023

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 -0.2625 % 2,202.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2625 % 4,223.7
Floater 10.67 % 10.84 % 43,317 8.92 1 -0.2625 % 2,434.1
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0250 % 3,285.8
SplitShare 5.13 % 8.24 % 40,284 2.42 7 -0.0250 % 3,923.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0250 % 3,061.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.2843 % 2,535.2
Perpetual-Discount 6.72 % 6.89 % 42,266 12.74 28 -0.2843 % 2,764.5
FixedReset Disc 5.90 % 8.73 % 75,487 10.88 64 0.1580 % 2,116.8
Insurance Straight 6.67 % 6.81 % 54,162 12.80 19 -0.2850 % 2,696.2
FloatingReset 11.35 % 11.02 % 28,371 8.80 2 -0.5059 % 2,394.4
FixedReset Prem 7.00 % 6.81 % 248,285 3.75 1 0.2798 % 2,308.1
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1580 % 2,163.8
FixedReset Ins Non 6.41 % 8.31 % 64,025 11.08 11 0.0677 % 2,286.4
Performance Highlights
Issue Index Change Notes
TRP.PR.E FixedReset Disc -6.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 13.65
Evaluated at bid price : 13.65
Bid-YTW : 11.12 %
IFC.PR.F Insurance Straight -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.80 %
IFC.PR.K Perpetual-Discount -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.89 %
GWO.PR.H Insurance Straight -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.92 %
IFC.PR.A FixedReset Ins Non -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 16.48
Evaluated at bid price : 16.48
Bid-YTW : 8.28 %
MFC.PR.I FixedReset Ins Non -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 8.02 %
RY.PR.J FixedReset Disc -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 8.70 %
GWO.PR.R Insurance Straight -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.89 %
SLF.PR.J FloatingReset -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 14.85
Evaluated at bid price : 14.85
Bid-YTW : 11.02 %
POW.PR.D Perpetual-Discount -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 18.31
Evaluated at bid price : 18.31
Bid-YTW : 6.88 %
BN.PF.H FixedReset Disc -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 9.61 %
CCS.PR.C Insurance Straight 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.67 %
GWO.PR.G Insurance Straight 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.84 %
CM.PR.Y FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 23.81
Evaluated at bid price : 24.30
Bid-YTW : 7.61 %
MFC.PR.K FixedReset Ins Non 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 7.97 %
TRP.PR.C FixedReset Disc 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 10.91 %
CU.PR.C FixedReset Disc 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 8.83 %
BN.PR.Z FixedReset Disc 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 19.14
Evaluated at bid price : 19.14
Bid-YTW : 8.77 %
TRP.PR.A FixedReset Disc 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 10.23 %
MFC.PR.L FixedReset Ins Non 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 8.90 %
BIP.PR.B FixedReset Disc 2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 9.58 %
SLF.PR.E Insurance Straight 3.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.85
Evaluated at bid price : 17.85
Bid-YTW : 6.37 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BN.PF.B FixedReset Disc 116,612 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 9.97 %
BN.PF.F FixedReset Disc 110,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 15.82
Evaluated at bid price : 15.82
Bid-YTW : 10.48 %
IFC.PR.F Insurance Straight 99,825 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.80 %
SLF.PR.G FixedReset Ins Non 59,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 12.85
Evaluated at bid price : 12.85
Bid-YTW : 9.47 %
CU.PR.G Perpetual-Discount 59,330 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 16.74
Evaluated at bid price : 16.74
Bid-YTW : 6.83 %
TD.PF.B FixedReset Disc 40,133 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.03
Evaluated at bid price : 17.03
Bid-YTW : 8.92 %
There were 19 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.E FixedReset Disc Quote: 13.65 – 14.65
Spot Rate : 1.0000
Average : 0.5991

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 13.65
Evaluated at bid price : 13.65
Bid-YTW : 11.12 %
CU.PR.G Perpetual-Discount Quote: 16.74 – 18.85
Spot Rate : 2.1100
Average : 1.8763

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 16.74
Evaluated at bid price : 16.74
Bid-YTW : 6.83 %
RY.PR.J FixedReset Disc Quote: 18.11 – 18.63
Spot Rate : 0.5200
Average : 0.3349

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 8.70 %
RY.PR.M FixedReset Disc Quote: 17.30 – 18.00
Spot Rate : 0.7000
Average : 0.5665

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 8.71 %
BMO.PR.Y FixedReset Disc Quote: 17.57 – 18.31
Spot Rate : 0.7400
Average : 0.6215

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 17.57
Evaluated at bid price : 17.57
Bid-YTW : 8.79 %
BN.PR.T FixedReset Disc Quote: 13.61 – 14.05
Spot Rate : 0.4400
Average : 0.3343

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-11
Maturity Price : 13.61
Evaluated at bid price : 13.61
Bid-YTW : 10.20 %
Market Action

July 10, 2023

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 -1.0390 % 2,207.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.0390 % 4,234.8
Floater 10.64 % 10.81 % 41,247 8.95 1 -1.0390 % 2,440.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.3181 % 3,286.6
SplitShare 5.13 % 8.24 % 40,624 2.42 7 -0.3181 % 3,924.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.3181 % 3,062.4
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.5452 % 2,542.4
Perpetual-Discount 6.70 % 6.85 % 41,207 12.78 28 -0.5452 % 2,772.4
FixedReset Disc 5.91 % 8.76 % 76,175 10.84 64 0.0608 % 2,113.4
Insurance Straight 6.65 % 6.76 % 53,516 12.87 19 -0.6085 % 2,703.9
FloatingReset 11.29 % 10.90 % 28,812 8.89 2 -0.0337 % 2,406.6
FixedReset Prem 7.02 % 6.88 % 251,281 3.75 1 0.0800 % 2,301.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0608 % 2,160.4
FixedReset Ins Non 6.41 % 8.26 % 63,381 11.13 11 -0.0208 % 2,284.9
Performance Highlights
Issue Index Change Notes
MFC.PR.L FixedReset Ins Non -4.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 9.11 %
BIP.PR.B FixedReset Disc -3.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 9.82 %
IFC.PR.E Insurance Straight -3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 19.43
Evaluated at bid price : 19.43
Bid-YTW : 6.76 %
PWF.PR.S Perpetual-Discount -2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.81 %
TRP.PR.A FixedReset Disc -2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 13.48
Evaluated at bid price : 13.48
Bid-YTW : 10.39 %
IFC.PR.K Perpetual-Discount -2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 19.56
Evaluated at bid price : 19.56
Bid-YTW : 6.78 %
CU.PR.J Perpetual-Discount -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.98 %
PWF.PF.A Perpetual-Discount -1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 6.84 %
PVS.PR.K SplitShare -1.89 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 20.80
Bid-YTW : 8.24 %
GWO.PR.Y Insurance Straight -1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.81
Evaluated at bid price : 16.81
Bid-YTW : 6.76 %
GWO.PR.G Insurance Straight -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.91 %
CU.PR.D Perpetual-Discount -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 18.02
Evaluated at bid price : 18.02
Bid-YTW : 6.91 %
IFC.PR.G FixedReset Ins Non -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 19.93
Evaluated at bid price : 19.93
Bid-YTW : 8.26 %
BN.PF.C Perpetual-Discount -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 17.49
Evaluated at bid price : 17.49
Bid-YTW : 7.01 %
BMO.PR.W FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 8.99 %
BN.PR.B Floater -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 11.43
Evaluated at bid price : 11.43
Bid-YTW : 10.81 %
CM.PR.Y FixedReset Disc -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 23.48
Evaluated at bid price : 24.00
Bid-YTW : 7.70 %
BN.PF.G FixedReset Disc -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 14.55
Evaluated at bid price : 14.55
Bid-YTW : 10.77 %
MFC.PR.K FixedReset Ins Non 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 8.07 %
CM.PR.S FixedReset Disc 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 7.73 %
BN.PF.H FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 9.52 %
IFC.PR.A FixedReset Ins Non 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.74
Evaluated at bid price : 16.74
Bid-YTW : 8.16 %
TD.PF.E FixedReset Disc 1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 17.92
Evaluated at bid price : 17.92
Bid-YTW : 8.70 %
MFC.PR.I FixedReset Ins Non 3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 7.91 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TD.PF.K FixedReset Disc 104,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 21.48
Evaluated at bid price : 21.80
Bid-YTW : 7.52 %
TD.PF.B FixedReset Disc 39,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.95
Evaluated at bid price : 16.95
Bid-YTW : 8.96 %
NA.PR.S FixedReset Disc 35,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 8.95 %
TRP.PR.B FixedReset Disc 33,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 10.45
Evaluated at bid price : 10.45
Bid-YTW : 11.17 %
SLF.PR.G FixedReset Ins Non 32,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 9.53 %
TD.PF.D FixedReset Disc 28,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 18.06
Evaluated at bid price : 18.06
Bid-YTW : 8.64 %
There were 18 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BMO.PR.T FixedReset Disc Quote: 16.99 – 24.00
Spot Rate : 7.0100
Average : 3.9360

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.99
Evaluated at bid price : 16.99
Bid-YTW : 8.96 %
IFC.PR.G FixedReset Ins Non Quote: 19.93 – 22.19
Spot Rate : 2.2600
Average : 1.3371

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 19.93
Evaluated at bid price : 19.93
Bid-YTW : 8.26 %
CU.PR.G Perpetual-Discount Quote: 16.71 – 18.85
Spot Rate : 2.1400
Average : 1.6201

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.71
Evaluated at bid price : 16.71
Bid-YTW : 6.85 %
BIP.PR.B FixedReset Disc Quote: 20.17 – 21.50
Spot Rate : 1.3300
Average : 0.8929

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 9.82 %
CM.PR.P FixedReset Disc Quote: 16.63 – 17.90
Spot Rate : 1.2700
Average : 0.8489

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 16.63
Evaluated at bid price : 16.63
Bid-YTW : 8.90 %
PWF.PR.H Perpetual-Discount Quote: 20.98 – 22.25
Spot Rate : 1.2700
Average : 0.8693

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-10
Maturity Price : 20.98
Evaluated at bid price : 20.98
Bid-YTW : 6.88 %
Market Action

July 7, 2023

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 0.0000 % 2,231.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0000 % 4,279.2
Floater 10.53 % 10.69 % 40,780 9.04 1 0.0000 % 2,466.1
OpRet 0.00 % 0.00 % 0 0.00 0 0.4222 % 3,297.1
SplitShare 5.09 % 8.05 % 52,079 2.15 6 0.4222 % 3,937.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4222 % 3,072.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.1641 % 2,556.3
Perpetual-Discount 6.67 % 6.82 % 39,146 12.82 31 -0.1641 % 2,787.6
FixedReset Disc 5.91 % 8.61 % 79,139 10.98 63 0.1556 % 2,112.1
Insurance Straight 6.61 % 6.72 % 52,389 12.92 19 -0.0869 % 2,720.5
FloatingReset 11.25 % 10.86 % 29,981 8.92 2 1.0562 % 2,407.4
FixedReset Prem 7.03 % 6.89 % 255,180 3.76 1 0.0000 % 2,299.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1556 % 2,159.0
FixedReset Ins Non 6.69 % 8.10 % 61,450 11.48 9 -0.4918 % 2,285.4
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 6.58 %
IFC.PR.A FixedReset Ins Non -3.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 16.52
Evaluated at bid price : 16.52
Bid-YTW : 8.10 %
MFC.PR.I FixedReset Ins Non -3.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 8.03 %
CU.PR.D Perpetual-Discount -2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 18.31
Evaluated at bid price : 18.31
Bid-YTW : 6.80 %
CU.PR.C FixedReset Disc -1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.25
Evaluated at bid price : 17.25
Bid-YTW : 8.71 %
TD.PF.E FixedReset Disc -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.58
Evaluated at bid price : 17.58
Bid-YTW : 8.68 %
PWF.PR.G Perpetual-Discount 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 21.38
Evaluated at bid price : 21.65
Bid-YTW : 6.82 %
BN.PF.G FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 10.44 %
CM.PR.Y FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 23.76
Evaluated at bid price : 24.25
Bid-YTW : 7.46 %
GWO.PR.Q Insurance Straight 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.77 %
BN.PR.R FixedReset Disc 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 13.02
Evaluated at bid price : 13.02
Bid-YTW : 10.44 %
TRP.PR.D FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 15.25
Evaluated at bid price : 15.25
Bid-YTW : 9.98 %
BN.PF.I FixedReset Disc 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 9.26 %
BN.PF.C Perpetual-Discount 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.92 %
PWF.PR.S Perpetual-Discount 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 6.61 %
BMO.PR.W FixedReset Disc 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 16.99
Evaluated at bid price : 16.99
Bid-YTW : 8.68 %
TD.PF.L FixedReset Disc 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 22.66
Evaluated at bid price : 23.25
Bid-YTW : 7.51 %
CM.PR.O FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 8.47 %
SLF.PR.J FloatingReset 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 10.86 %
PWF.PR.E Perpetual-Discount 1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 20.18
Evaluated at bid price : 20.18
Bid-YTW : 6.84 %
GWO.PR.N FixedReset Ins Non 2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 12.37
Evaluated at bid price : 12.37
Bid-YTW : 8.97 %
PVS.PR.J SplitShare 2.61 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 21.65
Bid-YTW : 8.05 %
BN.PF.D Perpetual-Discount 2.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 6.91 %
FTS.PR.H FixedReset Disc 3.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 12.85
Evaluated at bid price : 12.85
Bid-YTW : 9.34 %
TRP.PR.A FixedReset Disc 3.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 13.84
Evaluated at bid price : 13.84
Bid-YTW : 9.88 %
PWF.PR.P FixedReset Disc 10.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 12.32
Evaluated at bid price : 12.32
Bid-YTW : 9.59 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.C FixedReset Disc 59,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 10.66
Evaluated at bid price : 10.66
Bid-YTW : 10.81 %
BN.PF.H FixedReset Disc 51,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 19.56
Evaluated at bid price : 19.56
Bid-YTW : 9.47 %
TRP.PR.A FixedReset Disc 42,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 13.84
Evaluated at bid price : 13.84
Bid-YTW : 9.88 %
RY.PR.H FixedReset Disc 41,115 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 8.66 %
TRP.PR.B FixedReset Disc 31,620 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 10.41
Evaluated at bid price : 10.41
Bid-YTW : 10.91 %
RY.PR.S FixedReset Disc 30,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 19.66
Evaluated at bid price : 19.66
Bid-YTW : 7.93 %
There were 8 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
POW.PR.D Perpetual-Discount Quote: 18.50 – 19.81
Spot Rate : 1.3100
Average : 0.7632

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.80 %
SLF.PR.E Insurance Straight Quote: 17.26 – 18.05
Spot Rate : 0.7900
Average : 0.5275

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 6.58 %
MFC.PR.I FixedReset Ins Non Quote: 20.35 – 21.00
Spot Rate : 0.6500
Average : 0.4227

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 8.03 %
TD.PF.E FixedReset Disc Quote: 17.58 – 18.19
Spot Rate : 0.6100
Average : 0.4157

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 17.58
Evaluated at bid price : 17.58
Bid-YTW : 8.68 %
IFC.PR.A FixedReset Ins Non Quote: 16.52 – 17.04
Spot Rate : 0.5200
Average : 0.3830

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 16.52
Evaluated at bid price : 16.52
Bid-YTW : 8.10 %
BIP.PR.E FixedReset Disc Quote: 20.06 – 21.00
Spot Rate : 0.9400
Average : 0.8069

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-07
Maturity Price : 20.06
Evaluated at bid price : 20.06
Bid-YTW : 8.50 %
Market Action

July 6, 2023

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 -0.2591 % 2,231.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2591 % 4,279.2
Floater 10.53 % 10.69 % 40,247 9.05 1 -0.2591 % 2,466.1
OpRet 0.00 % 0.00 % 0 0.00 0 0.4166 % 3,283.2
SplitShare 5.11 % 8.15 % 50,633 2.15 6 0.4166 % 3,920.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4166 % 3,059.2
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.6338 % 2,560.5
Perpetual-Discount 6.66 % 6.86 % 40,298 12.73 31 -0.6338 % 2,792.1
FixedReset Disc 5.92 % 8.59 % 80,395 10.99 63 -0.2804 % 2,108.9
Insurance Straight 6.61 % 6.75 % 52,546 12.89 19 -0.1594 % 2,722.8
FloatingReset 11.37 % 11.05 % 28,294 8.79 2 0.0341 % 2,382.2
FixedReset Prem 7.03 % 6.88 % 256,844 3.76 1 0.0000 % 2,299.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.2804 % 2,155.7
FixedReset Ins Non 6.65 % 7.99 % 62,231 11.45 9 -0.4468 % 2,296.7
Performance Highlights
Issue Index Change Notes
PWF.PR.P FixedReset Disc -6.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 10.48 %
IFC.PR.G FixedReset Ins Non -2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 7.95 %
PWF.PR.E Perpetual-Discount -2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 20.18
Evaluated at bid price : 20.18
Bid-YTW : 6.97 %
CU.PR.J Perpetual-Discount -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 17.62
Evaluated at bid price : 17.62
Bid-YTW : 6.85 %
POW.PR.B Perpetual-Discount -1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.90 %
GWO.PR.N FixedReset Ins Non -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 9.15 %
FTS.PR.H FixedReset Disc -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 12.40
Evaluated at bid price : 12.40
Bid-YTW : 9.65 %
POW.PR.G Perpetual-Discount -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.94 %
BN.PF.I FixedReset Disc -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 18.76
Evaluated at bid price : 18.76
Bid-YTW : 9.37 %
CU.PR.F Perpetual-Discount -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 16.99
Evaluated at bid price : 16.99
Bid-YTW : 6.73 %
BN.PF.D Perpetual-Discount -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 7.10 %
PWF.PR.G Perpetual-Discount -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 21.54
Evaluated at bid price : 21.80
Bid-YTW : 6.91 %
CU.PR.G Perpetual-Discount -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 17.02
Evaluated at bid price : 17.02
Bid-YTW : 6.71 %
BIK.PR.A FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 21.95
Evaluated at bid price : 22.50
Bid-YTW : 8.55 %
GWO.PR.P Insurance Straight -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 19.79
Evaluated at bid price : 19.79
Bid-YTW : 6.89 %
FTS.PR.J Perpetual-Discount -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 6.39 %
BN.PF.J FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 20.46
Evaluated at bid price : 20.46
Bid-YTW : 8.24 %
GWO.PR.M Insurance Straight 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 6.76 %
BMO.PR.F FixedReset Disc 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 23.11
Evaluated at bid price : 23.70
Bid-YTW : 7.68 %
PVS.PR.K SplitShare 1.93 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 21.10
Bid-YTW : 7.93 %
Volume Highlights
Issue Index Shares
Traded		 Notes
GWO.PR.N FixedReset Ins Non 56,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 9.15 %
BN.PF.H FixedReset Disc 41,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 9.45 %
POW.PR.B Perpetual-Discount 24,767 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.90 %
POW.PR.A Perpetual-Discount 18,177 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 20.47
Evaluated at bid price : 20.47
Bid-YTW : 6.88 %
POW.PR.C Perpetual-Discount 17,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.80 %
PWF.PR.O Perpetual-Discount 15,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 7.00 %
There were 8 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CU.PR.J Perpetual-Discount Quote: 17.62 – 19.00
Spot Rate : 1.3800
Average : 0.8763

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 17.62
Evaluated at bid price : 17.62
Bid-YTW : 6.85 %
BN.PF.A FixedReset Disc Quote: 19.71 – 20.90
Spot Rate : 1.1900
Average : 0.7061

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 19.71
Evaluated at bid price : 19.71
Bid-YTW : 8.59 %
PWF.PR.P FixedReset Disc Quote: 11.30 – 12.78
Spot Rate : 1.4800
Average : 1.0892

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 11.30
Evaluated at bid price : 11.30
Bid-YTW : 10.48 %
NA.PR.S FixedReset Disc Quote: 17.31 – 18.00
Spot Rate : 0.6900
Average : 0.4760

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 17.31
Evaluated at bid price : 17.31
Bid-YTW : 8.80 %
MFC.PR.C Insurance Straight Quote: 17.55 – 18.35
Spot Rate : 0.8000
Average : 0.5958

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 6.48 %
TD.PF.J FixedReset Disc Quote: 20.95 – 21.44
Spot Rate : 0.4900
Average : 0.2910

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-06
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 7.63 %
Market Action

July 5, 2023

PerpetualDiscounts now yield 6.81%, equivalent to 8.85% interest at the standard equivalency factor of 1.3x. Long corporates yielded 5.02% on 2023-6-30 and since then the closing price has changed from 15.15 to 14.96, a decrease of 125bp in price, with a Duration of 12.40 (BMO doesn’t specify whether this is Macaulay or Modified Duration; I will assume Modified) which implies an increase in yield of about 10bp since 6/30 to 5.12%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has narrowed to about 375bp from the 385bp reported June 28.

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 0.2597 % 2,236.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2597 % 4,290.4
Floater 10.50 % 10.65 % 39,507 9.07 1 0.2597 % 2,472.6
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0292 % 3,269.6
SplitShare 5.13 % 8.34 % 50,981 2.16 6 -0.0292 % 3,904.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0292 % 3,046.5
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1933 % 2,576.9
Perpetual-Discount 6.62 % 6.81 % 39,477 12.80 31 0.1933 % 2,810.0
FixedReset Disc 5.90 % 8.55 % 81,176 11.03 63 0.0309 % 2,114.8
Insurance Straight 6.59 % 6.75 % 52,331 12.89 19 -0.1313 % 2,727.2
FloatingReset 11.38 % 11.05 % 28,383 8.79 2 0.0000 % 2,381.4
FixedReset Prem 7.03 % 6.88 % 258,593 3.76 1 -0.6754 % 2,299.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0309 % 2,161.7
FixedReset Ins Non 6.62 % 8.01 % 92,096 11.57 9 0.3994 % 2,307.0
Performance Highlights
Issue Index Change Notes
CCS.PR.C Insurance Straight -2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 18.47
Evaluated at bid price : 18.47
Bid-YTW : 6.83 %
BMO.PR.F FixedReset Disc -2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 22.73
Evaluated at bid price : 23.30
Bid-YTW : 7.81 %
SLF.PR.C Insurance Straight -1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.41 %
BIP.PR.A FixedReset Disc -1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 10.29 %
ELF.PR.F Perpetual-Discount -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.92 %
BIP.PR.E FixedReset Disc -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 8.41 %
PVS.PR.J SplitShare -1.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 21.10
Bid-YTW : 8.68 %
NA.PR.W FixedReset Disc -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 16.45
Evaluated at bid price : 16.45
Bid-YTW : 8.81 %
MIC.PR.A Perpetual-Discount -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.99 %
IFC.PR.E Insurance Straight -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.49 %
CU.PR.D Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.58 %
NA.PR.C FixedReset Prem 1.07 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 6.88 %
BIK.PR.A FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 22.10
Evaluated at bid price : 22.75
Bid-YTW : 8.45 %
BN.PF.A FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 8.63 %
BN.PF.B FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 9.63 %
MFC.PR.B Insurance Straight 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 17.99
Evaluated at bid price : 17.99
Bid-YTW : 6.53 %
GWO.PR.N FixedReset Ins Non 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 9.01 %
FTS.PR.M FixedReset Disc 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 16.73
Evaluated at bid price : 16.73
Bid-YTW : 9.15 %
PWF.PR.L Perpetual-Discount 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 18.96
Evaluated at bid price : 18.96
Bid-YTW : 6.88 %
RY.PR.N Perpetual-Discount 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 5.80 %
PVS.PR.G SplitShare 1.75 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 23.30
Bid-YTW : 8.00 %
MFC.PR.I FixedReset Ins Non 2.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 7.77 %
RY.PR.Z FixedReset Disc 2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 17.36
Evaluated at bid price : 17.36
Bid-YTW : 8.60 %
BNS.PR.I FixedReset Disc 7.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 19.92
Evaluated at bid price : 19.92
Bid-YTW : 7.80 %
Volume Highlights
Issue Index Shares
Traded		 Notes
FTS.PR.M FixedReset Disc 147,550 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 16.73
Evaluated at bid price : 16.73
Bid-YTW : 9.15 %
MFC.PR.C Insurance Straight 31,541 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.46 %
TRP.PR.A FixedReset Disc 27,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 13.40
Evaluated at bid price : 13.40
Bid-YTW : 10.18 %
CM.PR.Y FixedReset Disc 25,155 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 23.48
Evaluated at bid price : 24.00
Bid-YTW : 7.54 %
TRP.PR.C FixedReset Disc 20,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 10.61
Evaluated at bid price : 10.61
Bid-YTW : 10.85 %
TRP.PR.B FixedReset Disc 20,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 10.45
Evaluated at bid price : 10.45
Bid-YTW : 10.86 %
There were 8 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: 16.90 – 19.00
Spot Rate : 2.1000
Average : 1.3215

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 8.72 %
GWO.PR.Y Insurance Straight Quote: 17.20 – 17.98
Spot Rate : 0.7800
Average : 0.4844

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 6.60 %
SLF.PR.C Insurance Straight Quote: 17.50 – 18.05
Spot Rate : 0.5500
Average : 0.3795

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.41 %
CCS.PR.C Insurance Straight Quote: 18.47 – 19.00
Spot Rate : 0.5300
Average : 0.3622

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 18.47
Evaluated at bid price : 18.47
Bid-YTW : 6.83 %
BMO.PR.F FixedReset Disc Quote: 23.30 – 23.80
Spot Rate : 0.5000
Average : 0.3516

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 22.73
Evaluated at bid price : 23.30
Bid-YTW : 7.81 %
BIP.PR.A FixedReset Disc Quote: 16.70 – 17.35
Spot Rate : 0.6500
Average : 0.5021

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-05
Maturity Price : 16.70
Evaluated at bid price : 16.70
Bid-YTW : 10.29 %
Market Action

July 4, 2023

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 1.3158 % 2,231.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.3158 % 4,279.2
Floater 10.53 % 10.68 % 40,995 9.06 1 1.3158 % 2,466.1
OpRet 0.00 % 0.00 % 0 0.00 0 -0.3132 % 3,270.6
SplitShare 5.13 % 8.42 % 50,600 2.16 6 -0.3132 % 3,905.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.3132 % 3,047.4
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.6239 % 2,571.9
Perpetual-Discount 6.63 % 6.81 % 40,166 12.79 31 0.6239 % 2,804.5
FixedReset Disc 5.90 % 8.57 % 81,356 11.01 63 -0.1216 % 2,114.1
Insurance Straight 6.59 % 6.67 % 52,571 12.99 19 0.4998 % 2,730.8
FloatingReset 11.38 % 11.05 % 28,648 8.80 2 0.2734 % 2,381.4
FixedReset Prem 6.98 % 7.16 % 256,774 3.70 1 0.0000 % 2,315.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1216 % 2,161.1
FixedReset Ins Non 6.65 % 8.01 % 93,397 11.49 9 -0.2880 % 2,297.8
Performance Highlights
Issue Index Change Notes
BNS.PR.I FixedReset Disc -7.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.38 %
PWF.PR.P FixedReset Disc -5.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 12.09
Evaluated at bid price : 12.09
Bid-YTW : 9.84 %
MFC.PR.I FixedReset Ins Non -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.97 %
RY.PR.Z FixedReset Disc -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 16.88
Evaluated at bid price : 16.88
Bid-YTW : 8.84 %
PVS.PR.G SplitShare -1.51 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 22.90
Bid-YTW : 8.71 %
CM.PR.Q FixedReset Disc -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 17.46
Evaluated at bid price : 17.46
Bid-YTW : 8.62 %
TD.PF.E FixedReset Disc -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 8.54 %
BIP.PR.F FixedReset Disc -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 8.77 %
POW.PR.G Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.85 %
POW.PR.D Perpetual-Discount 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 18.59
Evaluated at bid price : 18.59
Bid-YTW : 6.76 %
CU.PR.G Perpetual-Discount 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 6.60 %
BN.PR.N Perpetual-Discount 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 17.23
Evaluated at bid price : 17.23
Bid-YTW : 6.96 %
SLF.PR.E Insurance Straight 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.27 %
PWF.PR.R Perpetual-Discount 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.86 %
NA.PR.W FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 16.89
Evaluated at bid price : 16.89
Bid-YTW : 8.71 %
PWF.PR.G Perpetual-Discount 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 6.84 %
NA.PR.G FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 21.45
Evaluated at bid price : 21.75
Bid-YTW : 7.64 %
GWO.PR.I Insurance Straight 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 17.23
Evaluated at bid price : 17.23
Bid-YTW : 6.59 %
ELF.PR.F Perpetual-Discount 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.81 %
BN.PR.B Floater 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 10.68 %
IFC.PR.C FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 17.62
Evaluated at bid price : 17.62
Bid-YTW : 8.24 %
PWF.PR.S Perpetual-Discount 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 6.72 %
BN.PF.D Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.99 %
BIP.PR.E FixedReset Disc 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 20.56
Evaluated at bid price : 20.56
Bid-YTW : 8.28 %
BN.PF.I FixedReset Disc 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 9.18 %
BN.PF.A FixedReset Disc 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 19.38
Evaluated at bid price : 19.38
Bid-YTW : 8.73 %
FTS.PR.K FixedReset Disc 1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 16.30
Evaluated at bid price : 16.30
Bid-YTW : 8.99 %
BN.PF.C Perpetual-Discount 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 17.44
Evaluated at bid price : 17.44
Bid-YTW : 7.02 %
CU.PR.D Perpetual-Discount 2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 6.65 %
Volume Highlights
Issue Index Shares
Traded		 Notes
No individual volumes exceeding 10,000 shares!
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BNS.PR.I FixedReset Disc Quote: 18.55 – 20.38
Spot Rate : 1.8300
Average : 1.0680

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 8.38 %
CM.PR.P FixedReset Disc Quote: 16.61 – 17.90
Spot Rate : 1.2900
Average : 0.7779

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 8.70 %
BMO.PR.T FixedReset Disc Quote: 16.90 – 18.20
Spot Rate : 1.3000
Average : 0.7963

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 8.78 %
RY.PR.O Perpetual-Discount Quote: 21.00 – 21.84
Spot Rate : 0.8400
Average : 0.5626

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.92 %
PWF.PR.O Perpetual-Discount Quote: 21.15 – 21.88
Spot Rate : 0.7300
Average : 0.4599

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2053-07-04
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 7.01 %
PVS.PR.I SplitShare Quote: 23.25 – 23.90
Spot Rate : 0.6500
Average : 0.4418

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-10-31
Maturity Price : 25.00
Evaluated at bid price : 23.25
Bid-YTW : 8.33 %