Category: Market Action

Market Action

August 24, 2022

TXPR closed at 617.19, up 0.50% on the day. Volume today was 1.24-million, slightly below the median of the past 21 trading days.

CPD closed at 12.27, down 0.24% on the day. Volume was 61,300, above the median of the past 21 trading days.

ZPR closed at 10.34, up 0.19% on the day. Volume of 112,170 was slightly above the median of the past 21 trading days.

Five-year Canada yields were up to 3.25% today.

Today’s action, particularly the pop after 4pm, was probably due to tomorrow’s redemption of BMO.PR.D and reinvestment of the proceeds by index and other funds.

PerpetualDiscounts now yield 6.16%, equivalent to 8.01% interest at the standard equivalency factor of 1.3x. Long corporates now yield 4.88%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened slightly (and perhaps spuriously) to 315bp from the 310bp reported August 17.

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	0.5414 %	2,498.7
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.5414 %	4,792.5
Floater	6.33 %	6.44 %	53,071	13.19	2	0.5414 %	2,761.9
OpRet	0.00 %	0.00 %	0	0.00	0	-0.3393 %	3,465.9
SplitShare	4.91 %	5.39 %	37,926	3.04	8	-0.3393 %	4,139.0
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.3393 %	3,229.4
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.0884 %	2,829.8
Perpetual-Discount	6.02 %	6.16 %	67,614	13.64	35	-0.0884 %	3,085.8
FixedReset Disc	4.72 %	6.23 %	104,741	13.56	59	-0.0380 %	2,505.9
Insurance Straight	5.96 %	6.02 %	80,606	13.77	19	-0.0303 %	3,018.9
FloatingReset	7.54 %	7.84 %	41,281	11.47	2	-0.0315 %	2,577.0
FixedReset Prem	5.08 %	4.55 %	110,733	1.83	6	-0.1111 %	2,606.5
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.0380 %	2,561.5
FixedReset Ins Non	4.75 %	6.63 %	60,255	13.32	14	-0.5953 %	2,564.8

Performance Highlights
Issue	Index	Change	Notes
POW.PR.D	Perpetual-Discount	-4.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 19.68 Evaluated at bid price : 19.68 Bid-YTW : 6.45 %
CM.PR.P	FixedReset Disc	-3.48 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 20.83 Evaluated at bid price : 20.83 Bid-YTW : 6.28 %
MFC.PR.L	FixedReset Ins Non	-2.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 18.05 Evaluated at bid price : 18.05 Bid-YTW : 7.17 %
TRP.PR.D	FixedReset Disc	-2.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 17.45 Evaluated at bid price : 17.45 Bid-YTW : 7.79 %
BAM.PR.X	FixedReset Disc	-1.99 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 7.01 %
IFC.PR.K	Perpetual-Discount	-1.78 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.79 Evaluated at bid price : 22.10 Bid-YTW : 6.03 %
MFC.PR.Q	FixedReset Ins Non	-1.75 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.95 Evaluated at bid price : 22.50 Bid-YTW : 6.31 %
NA.PR.S	FixedReset Disc	-1.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 6.43 %
FTS.PR.H	FixedReset Disc	-1.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 14.02 Evaluated at bid price : 14.02 Bid-YTW : 7.37 %
IAF.PR.I	FixedReset Ins Non	-1.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.10 Evaluated at bid price : 23.82 Bid-YTW : 6.24 %
GWO.PR.S	Insurance Straight	-1.51 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.52 Evaluated at bid price : 21.52 Bid-YTW : 6.21 %
BAM.PF.G	FixedReset Disc	-1.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 17.75 Evaluated at bid price : 17.75 Bid-YTW : 7.82 %
GWO.PR.N	FixedReset Ins Non	-1.34 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 14.00 Evaluated at bid price : 14.00 Bid-YTW : 6.94 %
RY.PR.J	FixedReset Disc	-1.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.92 Evaluated at bid price : 22.20 Bid-YTW : 6.17 %
RY.PR.M	FixedReset Disc	-1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 6.23 %
MFC.PR.N	FixedReset Ins Non	-1.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 18.52 Evaluated at bid price : 18.52 Bid-YTW : 7.01 %
FTS.PR.J	Perpetual-Discount	-1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 20.27 Evaluated at bid price : 20.27 Bid-YTW : 5.89 %
RY.PR.N	Perpetual-Discount	1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.56 Evaluated at bid price : 23.90 Bid-YTW : 5.14 %
MFC.PR.I	FixedReset Ins Non	1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.35 Evaluated at bid price : 24.45 Bid-YTW : 6.13 %
BMO.PR.E	FixedReset Disc	1.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.92 Evaluated at bid price : 24.35 Bid-YTW : 5.96 %
PWF.PR.O	Perpetual-Discount	1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 6.29 %
POW.PR.C	Perpetual-Discount	1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 22.98 Evaluated at bid price : 23.25 Bid-YTW : 6.32 %
PWF.PR.T	FixedReset Disc	1.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 7.16 %
PWF.PR.H	Perpetual-Discount	1.32 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 22.71 Evaluated at bid price : 23.00 Bid-YTW : 6.31 %
IFC.PR.A	FixedReset Ins Non	1.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 6.71 %
GWO.PR.T	Insurance Straight	1.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.59 Evaluated at bid price : 21.86 Bid-YTW : 5.98 %
PWF.PR.P	FixedReset Disc	1.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 14.22 Evaluated at bid price : 14.22 Bid-YTW : 7.35 %
TRP.PR.B	FixedReset Disc	1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 12.75 Evaluated at bid price : 12.75 Bid-YTW : 7.77 %
TRP.PR.G	FixedReset Disc	2.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 7.06 %
CM.PR.O	FixedReset Disc	2.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.38 Evaluated at bid price : 21.70 Bid-YTW : 6.12 %
BIP.PR.A	FixedReset Disc	2.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 7.86 %

Volume Highlights
Issue	Index	Shares Traded	Notes
BAM.PF.E	FixedReset Disc	45,033	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 17.87 Evaluated at bid price : 17.87 Bid-YTW : 7.55 %
PWF.PR.O	Perpetual-Discount	42,496	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 6.29 %
FTS.PR.M	FixedReset Disc	41,989	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 19.06 Evaluated at bid price : 19.06 Bid-YTW : 7.13 %
BAM.PF.G	FixedReset Disc	25,000	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 17.75 Evaluated at bid price : 17.75 Bid-YTW : 7.82 %
FTS.PR.G	FixedReset Disc	24,596	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 18.80 Evaluated at bid price : 18.80 Bid-YTW : 7.04 %
PWF.PR.G	Perpetual-Discount	20,621	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.15 Evaluated at bid price : 23.45 Bid-YTW : 6.35 %
There were 6 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
GWO.PR.S	Insurance Straight	Quote: 21.52 – 25.00 Spot Rate : 3.4800 Average : 2.0135 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.52 Evaluated at bid price : 21.52 Bid-YTW : 6.21 %
CM.PR.P	FixedReset Disc	Quote: 20.83 – 21.70 Spot Rate : 0.8700 Average : 0.5678 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 20.83 Evaluated at bid price : 20.83 Bid-YTW : 6.28 %
IFC.PR.F	Insurance Straight	Quote: 22.35 – 23.50 Spot Rate : 1.1500 Average : 0.8828 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 22.06 Evaluated at bid price : 22.35 Bid-YTW : 6.02 %
NA.PR.S	FixedReset Disc	Quote: 21.25 – 22.27 Spot Rate : 1.0200 Average : 0.7684 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 6.43 %
TRP.PR.C	FixedReset Disc	Quote: 13.26 – 14.00 Spot Rate : 0.7400 Average : 0.4961 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 13.26 Evaluated at bid price : 13.26 Bid-YTW : 7.74 %
PWF.PR.G	Perpetual-Discount	Quote: 23.45 – 24.10 Spot Rate : 0.6500 Average : 0.4081 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-24 Maturity Price : 23.15 Evaluated at bid price : 23.45 Bid-YTW : 6.35 %

Market Action

August 23, 2022

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 %	2,485.2
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.0000 %	4,766.7
Floater	6.36 %	6.46 %	53,347	13.16	2	0.0000 %	2,747.1
OpRet	0.00 %	0.00 %	0	0.00	0	-0.1489 %	3,477.7
SplitShare	4.89 %	5.24 %	38,448	3.04	8	-0.1489 %	4,153.1
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.1489 %	3,240.4
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	0.2700 %	2,832.3
Perpetual-Discount	6.02 %	6.13 %	69,686	13.66	35	0.2700 %	3,088.5
FixedReset Disc	4.72 %	6.24 %	105,468	13.69	59	-0.1615 %	2,506.8
Insurance Straight	5.96 %	6.08 %	84,032	13.72	19	-0.2798 %	3,019.8
FloatingReset	7.53 %	7.84 %	39,376	11.47	2	-0.5947 %	2,577.8
FixedReset Prem	5.08 %	4.43 %	112,085	1.84	6	0.0327 %	2,609.4
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.1615 %	2,562.5
FixedReset Ins Non	4.73 %	6.58 %	60,974	13.37	14	-0.5010 %	2,580.1

Performance Highlights
Issue	Index	Change	Notes
IFC.PR.A	FixedReset Ins Non	-2.99 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 6.80 %
CM.PR.O	FixedReset Disc	-2.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 6.27 %
NA.PR.S	FixedReset Disc	-2.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.31 Evaluated at bid price : 21.60 Bid-YTW : 6.31 %
TRP.PR.G	FixedReset Disc	-2.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.19 Evaluated at bid price : 19.19 Bid-YTW : 7.20 %
SLF.PR.E	Insurance Straight	-2.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.58 Evaluated at bid price : 19.58 Bid-YTW : 5.85 %
SLF.PR.C	Insurance Straight	-1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 5.88 %
GWO.PR.Y	Insurance Straight	-1.78 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 18.76 Evaluated at bid price : 18.76 Bid-YTW : 6.11 %
BIP.PR.A	FixedReset Disc	-1.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.45 Evaluated at bid price : 19.45 Bid-YTW : 8.07 %
MFC.PR.Q	FixedReset Ins Non	-1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 22.19 Evaluated at bid price : 22.90 Bid-YTW : 6.19 %
ELF.PR.H	Perpetual-Discount	-1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 22.08 Evaluated at bid price : 22.31 Bid-YTW : 6.24 %
SLF.PR.D	Insurance Straight	-1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.29 Evaluated at bid price : 19.29 Bid-YTW : 5.87 %
MFC.PR.K	FixedReset Ins Non	-1.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 6.58 %
FTS.PR.F	Perpetual-Discount	-1.42 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 5.89 %
PWF.PR.T	FixedReset Disc	-1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 18.95 Evaluated at bid price : 18.95 Bid-YTW : 7.25 %
SLF.PR.J	FloatingReset	-1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 15.34 Evaluated at bid price : 15.34 Bid-YTW : 7.53 %
BAM.PR.Z	FixedReset Disc	-1.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.76 Evaluated at bid price : 22.20 Bid-YTW : 6.97 %
BMO.PR.S	FixedReset Disc	-1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.60 Evaluated at bid price : 22.00 Bid-YTW : 6.08 %
MFC.PR.F	FixedReset Ins Non	-1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 14.40 Evaluated at bid price : 14.40 Bid-YTW : 7.03 %
BAM.PR.T	FixedReset Disc	1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 16.97 Evaluated at bid price : 16.97 Bid-YTW : 7.44 %
PWF.PR.F	Perpetual-Discount	1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.38 Evaluated at bid price : 21.65 Bid-YTW : 6.12 %
POW.PR.D	Perpetual-Discount	1.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 6.15 %
IFC.PR.I	Perpetual-Discount	1.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 23.02 Evaluated at bid price : 23.35 Bid-YTW : 5.87 %
NA.PR.W	FixedReset Disc	1.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 6.16 %
PWF.PR.Z	Perpetual-Discount	1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.58 Evaluated at bid price : 21.58 Bid-YTW : 6.04 %
IFC.PR.G	FixedReset Ins Non	1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 22.01 Evaluated at bid price : 22.60 Bid-YTW : 6.38 %
TRP.PR.A	FixedReset Disc	1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 15.97 Evaluated at bid price : 15.97 Bid-YTW : 7.66 %
GWO.PR.G	Insurance Straight	1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.16 %
BAM.PF.D	Perpetual-Discount	1.49 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.08 %
BAM.PF.F	FixedReset Disc	1.55 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 7.46 %
FTS.PR.H	FixedReset Disc	1.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 14.25 Evaluated at bid price : 14.25 Bid-YTW : 7.26 %
BAM.PR.X	FixedReset Disc	2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 18.06 Evaluated at bid price : 18.06 Bid-YTW : 6.86 %
MIC.PR.A	Perpetual-Discount	4.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.30 Evaluated at bid price : 21.60 Bid-YTW : 6.35 %

Volume Highlights
Issue	Index	Shares Traded	Notes
PWF.PR.R	Perpetual-Discount	218,390	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.31 %
BAM.PR.K	Floater	92,400	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 12.95 Evaluated at bid price : 12.95 Bid-YTW : 6.46 %
TD.PF.B	FixedReset Disc	67,284	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 6.19 %
GWO.PR.T	Insurance Straight	56,388	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.55 Evaluated at bid price : 21.55 Bid-YTW : 6.08 %
PWF.PR.Z	Perpetual-Discount	50,715	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.58 Evaluated at bid price : 21.58 Bid-YTW : 6.04 %
TRP.PR.D	FixedReset Disc	36,182	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 17.84 Evaluated at bid price : 17.84 Bid-YTW : 7.62 %
There were 7 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
CU.PR.F	Perpetual-Discount	Quote: 19.19 – 24.43 Spot Rate : 5.2400 Average : 3.1179 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.19 Evaluated at bid price : 19.19 Bid-YTW : 5.90 %
MFC.PR.B	Insurance Straight	Quote: 19.78 – 22.50 Spot Rate : 2.7200 Average : 1.7799 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 19.78 Evaluated at bid price : 19.78 Bid-YTW : 5.89 %
SLF.PR.H	FixedReset Ins Non	Quote: 16.90 – 18.50 Spot Rate : 1.6000 Average : 1.0964 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 16.90 Evaluated at bid price : 16.90 Bid-YTW : 7.08 %
PWF.PR.P	FixedReset Disc	Quote: 14.00 – 15.50 Spot Rate : 1.5000 Average : 1.1529 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 14.00 Evaluated at bid price : 14.00 Bid-YTW : 7.46 %
RY.PR.M	FixedReset Disc	Quote: 21.43 – 22.50 Spot Rate : 1.0700 Average : 0.7404 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 21.43 Evaluated at bid price : 21.43 Bid-YTW : 6.15 %
IFC.PR.K	Perpetual-Discount	Quote: 22.50 – 23.34 Spot Rate : 0.8400 Average : 0.5337 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-23 Maturity Price : 22.15 Evaluated at bid price : 22.50 Bid-YTW : 5.92 %

Market Action

August 22, 2022

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	-0.5385 %	2,485.2
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.5385 %	4,766.7
Floater	6.36 %	6.46 %	61,259	13.17	2	-0.5385 %	2,747.1
OpRet	0.00 %	0.00 %	0	0.00	0	0.4202 %	3,482.9
SplitShare	4.88 %	5.23 %	40,021	3.05	8	0.4202 %	4,159.3
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.4202 %	3,245.3
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.9632 %	2,824.7
Perpetual-Discount	6.03 %	6.15 %	70,856	13.62	35	-0.9632 %	3,080.2
FixedReset Disc	4.71 %	6.20 %	108,106	13.75	59	-0.1138 %	2,510.9
Insurance Straight	5.94 %	6.04 %	84,846	13.75	19	-0.8719 %	3,028.3
FloatingReset	7.49 %	7.84 %	41,000	11.46	2	0.0000 %	2,593.2
FixedReset Prem	5.08 %	4.42 %	112,009	1.84	6	-0.0719 %	2,608.6
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.1138 %	2,566.6
FixedReset Ins Non	4.70 %	6.48 %	59,863	13.42	14	-0.9776 %	2,593.1

Performance Highlights
Issue	Index	Change	Notes
MIC.PR.A	Perpetual-Discount	-4.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 20.71 Evaluated at bid price : 20.71 Bid-YTW : 6.64 %
BAM.PF.G	FixedReset Disc	-2.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 17.98 Evaluated at bid price : 17.98 Bid-YTW : 7.73 %
SLF.PR.H	FixedReset Ins Non	-2.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 7.04 %
BAM.PF.F	FixedReset Disc	-2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 7.58 %
POW.PR.D	Perpetual-Discount	-2.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 20.43 Evaluated at bid price : 20.43 Bid-YTW : 6.21 %
BMO.PR.E	FixedReset Disc	-1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 23.59 Evaluated at bid price : 24.05 Bid-YTW : 6.03 %
CIU.PR.A	Perpetual-Discount	-1.78 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 5.98 %
POW.PR.G	Perpetual-Discount	-1.76 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 22.07 Evaluated at bid price : 22.30 Bid-YTW : 6.36 %
MFC.PR.K	FixedReset Ins Non	-1.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 20.66 Evaluated at bid price : 20.66 Bid-YTW : 6.48 %
RY.PR.H	FixedReset Disc	-1.69 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.27 Evaluated at bid price : 21.55 Bid-YTW : 6.08 %
BAM.PR.X	FixedReset Disc	-1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 7.00 %
GWO.PR.M	Insurance Straight	-1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 23.32 Evaluated at bid price : 23.60 Bid-YTW : 6.24 %
CU.PR.E	Perpetual-Discount	-1.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 5.89 %
CU.PR.H	Perpetual-Discount	-1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.65 Evaluated at bid price : 21.65 Bid-YTW : 6.10 %
GWO.PR.P	Insurance Straight	-1.57 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.65 Evaluated at bid price : 21.90 Bid-YTW : 6.26 %
MFC.PR.N	FixedReset Ins Non	-1.55 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 18.87 Evaluated at bid price : 18.87 Bid-YTW : 6.88 %
MFC.PR.L	FixedReset Ins Non	-1.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 7.00 %
IFC.PR.A	FixedReset Ins Non	-1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 18.71 Evaluated at bid price : 18.71 Bid-YTW : 6.59 %
BAM.PF.D	Perpetual-Discount	-1.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 6.17 %
BAM.PF.C	Perpetual-Discount	-1.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.86 Evaluated at bid price : 19.86 Bid-YTW : 6.22 %
GWO.PR.T	Insurance Straight	-1.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.55 Evaluated at bid price : 21.55 Bid-YTW : 6.08 %
MFC.PR.B	Insurance Straight	-1.37 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.87 Evaluated at bid price : 19.87 Bid-YTW : 5.86 %
TD.PF.C	FixedReset Disc	-1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.27 Evaluated at bid price : 21.27 Bid-YTW : 6.18 %
RY.PR.N	Perpetual-Discount	-1.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 23.38 Evaluated at bid price : 23.70 Bid-YTW : 5.18 %
POW.PR.B	Perpetual-Discount	-1.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.26 Evaluated at bid price : 21.53 Bid-YTW : 6.29 %
NA.PR.W	FixedReset Disc	-1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.23 %
BAM.PR.N	Perpetual-Discount	-1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.41 Evaluated at bid price : 19.41 Bid-YTW : 6.23 %
BMO.PR.T	FixedReset Disc	-1.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 6.16 %
BAM.PR.T	FixedReset Disc	-1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 16.80 Evaluated at bid price : 16.80 Bid-YTW : 7.51 %
PWF.PR.H	Perpetual-Discount	-1.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 22.52 Evaluated at bid price : 22.77 Bid-YTW : 6.38 %
FTS.PR.F	Perpetual-Discount	-1.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 5.81 %
CCS.PR.C	Insurance Straight	-1.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 5.99 %
GWO.PR.R	Insurance Straight	-1.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.96 Evaluated at bid price : 19.96 Bid-YTW : 6.12 %
GWO.PR.Q	Insurance Straight	-1.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.02 Evaluated at bid price : 21.02 Bid-YTW : 6.24 %
PWF.PR.R	Perpetual-Discount	-1.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.76 Evaluated at bid price : 22.01 Bid-YTW : 6.31 %
PWF.PR.O	Perpetual-Discount	-1.08 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 22.71 Evaluated at bid price : 22.95 Bid-YTW : 6.38 %
IFC.PR.I	Perpetual-Discount	-1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 22.79 Evaluated at bid price : 23.10 Bid-YTW : 5.93 %
TRP.PR.C	FixedReset Disc	-1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 13.30 Evaluated at bid price : 13.30 Bid-YTW : 7.71 %
CU.PR.F	Perpetual-Discount	-1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 5.89 %
MFC.PR.J	FixedReset Ins Non	1.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 22.79 Evaluated at bid price : 23.50 Bid-YTW : 6.11 %
PWF.PR.T	FixedReset Disc	1.42 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.22 Evaluated at bid price : 19.22 Bid-YTW : 7.15 %
TRP.PR.A	FixedReset Disc	1.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 15.75 Evaluated at bid price : 15.75 Bid-YTW : 7.76 %
MFC.PR.Q	FixedReset Ins Non	3.58 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 22.68 Evaluated at bid price : 23.27 Bid-YTW : 6.10 %
TRP.PR.G	FixedReset Disc	9.62 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 7.05 %

Volume Highlights
Issue	Index	Shares Traded	Notes
BAM.PR.B	Floater	69,906	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 12.96 Evaluated at bid price : 12.96 Bid-YTW : 6.46 %
BMO.PR.F	FixedReset Prem	60,798	YTW SCENARIO Maturity Type : Call Maturity Date : 2024-05-25 Maturity Price : 25.00 Evaluated at bid price : 25.50 Bid-YTW : 3.90 %
PWF.PF.A	Perpetual-Discount	34,300	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 18.75 Evaluated at bid price : 18.75 Bid-YTW : 6.07 %
GWO.PR.T	Insurance Straight	29,600	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.55 Evaluated at bid price : 21.55 Bid-YTW : 6.08 %
PWF.PR.Z	Perpetual-Discount	18,997	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 21.32 Evaluated at bid price : 21.32 Bid-YTW : 6.11 %
TRP.PR.D	FixedReset Disc	17,700	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 17.76 Evaluated at bid price : 17.76 Bid-YTW : 7.66 %
There were 12 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
MFC.PR.L	FixedReset Ins Non	Quote: 18.50 – 24.35 Spot Rate : 5.8500 Average : 3.7453 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 7.00 %
SLF.PR.G	FixedReset Ins Non	Quote: 14.17 – 15.50 Spot Rate : 1.3300 Average : 0.9133 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 14.17 Evaluated at bid price : 14.17 Bid-YTW : 7.26 %
MFC.PR.I	FixedReset Ins Non	Quote: 24.06 – 24.80 Spot Rate : 0.7400 Average : 0.4586 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 22.80 Evaluated at bid price : 24.06 Bid-YTW : 6.22 %
GWO.PR.Y	Insurance Straight	Quote: 19.10 – 20.00 Spot Rate : 0.9000 Average : 0.6398 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.10 Evaluated at bid price : 19.10 Bid-YTW : 5.99 %
BMO.PR.E	FixedReset Disc	Quote: 24.05 – 24.75 Spot Rate : 0.7000 Average : 0.4603 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 23.59 Evaluated at bid price : 24.05 Bid-YTW : 6.03 %
MFC.PR.C	Insurance Straight	Quote: 19.26 – 20.00 Spot Rate : 0.7400 Average : 0.5043 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-22 Maturity Price : 19.26 Evaluated at bid price : 19.26 Bid-YTW : 5.85 %

Market Action

August 19, 2022

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	0.0770 %	2,498.7
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.0770 %	4,792.5
Floater	6.33 %	6.43 %	48,723	13.21	2	0.0770 %	2,761.9
OpRet	0.00 %	0.00 %	0	0.00	0	-0.4618 %	3,468.3
SplitShare	4.90 %	5.38 %	40,456	3.05	8	-0.4618 %	4,141.9
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.4618 %	3,231.7
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.5346 %	2,852.2
Perpetual-Discount	5.97 %	6.12 %	71,376	13.70	35	-0.5346 %	3,110.2
FixedReset Disc	4.71 %	6.09 %	110,873	13.86	59	-0.1394 %	2,513.7
Insurance Straight	5.89 %	5.99 %	84,829	13.85	19	-0.5219 %	3,054.9
FloatingReset	7.41 %	7.71 %	40,980	11.62	2	-0.5912 %	2,593.2
FixedReset Prem	5.07 %	4.28 %	113,760	1.84	6	-0.2022 %	2,610.5
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.1394 %	2,569.5
FixedReset Ins Non	4.66 %	6.31 %	58,987	13.39	14	-0.2996 %	2,618.7

Performance Highlights
Issue	Index	Change	Notes
TRP.PR.G	FixedReset Disc	-9.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 7.61 %
SLF.PR.G	FixedReset Ins Non	-2.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 14.25 Evaluated at bid price : 14.25 Bid-YTW : 7.11 %
TRP.PR.A	FixedReset Disc	-2.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 7.78 %
IFC.PR.C	FixedReset Disc	-2.22 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 6.60 %
PWF.PR.T	FixedReset Disc	-2.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 18.95 Evaluated at bid price : 18.95 Bid-YTW : 7.15 %
FTS.PR.H	FixedReset Disc	-2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 14.00 Evaluated at bid price : 14.00 Bid-YTW : 7.26 %
SLF.PR.D	Insurance Straight	-1.91 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.52 Evaluated at bid price : 19.52 Bid-YTW : 5.79 %
BIP.PR.F	FixedReset Disc	-1.79 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 22.65 Evaluated at bid price : 23.09 Bid-YTW : 6.51 %
FTS.PR.G	FixedReset Disc	-1.42 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 18.75 Evaluated at bid price : 18.75 Bid-YTW : 6.95 %
POW.PR.C	Perpetual-Discount	-1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 6.30 %
BAM.PR.N	Perpetual-Discount	-1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 6.15 %
SLF.PR.C	Insurance Straight	-1.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 5.73 %
FTS.PR.J	Perpetual-Discount	-1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 5.75 %
SLF.PR.E	Insurance Straight	-1.23 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 20.10 Evaluated at bid price : 20.10 Bid-YTW : 5.69 %
BAM.PF.D	Perpetual-Discount	-1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.08 %
MFC.PR.C	Insurance Straight	-1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 5.82 %
BAM.PF.B	FixedReset Disc	-1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.76 Evaluated at bid price : 19.76 Bid-YTW : 7.17 %
FTS.PR.M	FixedReset Disc	-1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 18.95 Evaluated at bid price : 18.95 Bid-YTW : 7.07 %
TRP.PR.F	FloatingReset	-1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 16.50 Evaluated at bid price : 16.50 Bid-YTW : 7.71 %
GWO.PR.I	Insurance Straight	-1.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.32 Evaluated at bid price : 19.32 Bid-YTW : 5.92 %
MFC.PR.L	FixedReset Ins Non	-1.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.03 Evaluated at bid price : 19.03 Bid-YTW : 6.80 %
FTS.PR.F	Perpetual-Discount	-1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 21.45 Evaluated at bid price : 21.45 Bid-YTW : 5.74 %
POW.PR.A	Perpetual-Discount	-1.10 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 22.28 Evaluated at bid price : 22.55 Bid-YTW : 6.29 %
BAM.PF.F	FixedReset Disc	-1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 7.33 %
BAM.PF.E	FixedReset Disc	-1.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 17.82 Evaluated at bid price : 17.82 Bid-YTW : 7.47 %
BNS.PR.I	FixedReset Disc	1.19 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 24.32 Evaluated at bid price : 24.65 Bid-YTW : 5.60 %
CM.PR.P	FixedReset Disc	1.35 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 21.48 Evaluated at bid price : 21.84 Bid-YTW : 5.89 %
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 : 24.70 Bid-YTW : 5.23 %
PVS.PR.K	SplitShare	1.64 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 23.10 Bid-YTW : 5.81 %
NA.PR.W	FixedReset Disc	9.87 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 21.26 Evaluated at bid price : 21.26 Bid-YTW : 6.07 %

Volume Highlights
Issue	Index	Shares Traded	Notes
BMO.PR.T	FixedReset Disc	26,600	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 21.51 Evaluated at bid price : 21.51 Bid-YTW : 6.00 %
PWF.PR.H	Perpetual-Discount	20,550	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 22.76 Evaluated at bid price : 23.04 Bid-YTW : 6.30 %
PWF.PR.G	Perpetual-Discount	18,032	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 23.15 Evaluated at bid price : 23.45 Bid-YTW : 6.35 %
PWF.PR.O	Perpetual-Discount	17,627	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 22.93 Evaluated at bid price : 23.20 Bid-YTW : 6.31 %
PVS.PR.F	SplitShare	13,500	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2024-09-30 Maturity Price : 25.00 Evaluated at bid price : 24.55 Bid-YTW : 5.62 %
SLF.PR.D	Insurance Straight	11,520	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 19.52 Evaluated at bid price : 19.52 Bid-YTW : 5.79 %
There were 3 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
TRP.PR.G	FixedReset Disc	Quote: 17.88 – 19.80 Spot Rate : 1.9200 Average : 1.3612 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 7.61 %
MFC.PR.B	Insurance Straight	Quote: 20.44 – 21.99 Spot Rate : 1.5500 Average : 1.0222 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 20.44 Evaluated at bid price : 20.44 Bid-YTW : 5.79 %
PVS.PR.J	SplitShare	Quote: 22.85 – 23.60 Spot Rate : 0.7500 Average : 0.4967 YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 22.85 Bid-YTW : 6.25 %
PWF.PR.P	FixedReset Disc	Quote: 14.20 – 15.50 Spot Rate : 1.3000 Average : 1.1036 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 14.20 Evaluated at bid price : 14.20 Bid-YTW : 7.25 %
TRP.PR.A	FixedReset Disc	Quote: 15.50 – 16.10 Spot Rate : 0.6000 Average : 0.4056 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 7.78 %
MFC.PR.Q	FixedReset Ins Non	Quote: 22.75 – 23.50 Spot Rate : 0.7500 Average : 0.5633 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-19 Maturity Price : 22.10 Evaluated at bid price : 22.75 Bid-YTW : 6.24 %

Market Action

August 18, 2022

OSFI has announced Interim arrangements for the regulatory capital and liquidity treatment of cryptoasset exposures:

Cryptoassets are broadly categorized into two groups – Group 1 and Group 2. Group 1 cryptoassets are those that meet the following set of criteriaFootnote3:

They are digital representations of traditional assetsFootnote4 using cryptography, distributed ledger technology or similar technology to record ownership.
A legal opinion has been obtained confirming that all rights, obligations and interests arising from the cryptoasset are: clearly defined, legally enforceable in all relevant jurisdictions, and consistent with the rights, obligations, and interests associated with comparable traditional assets.
A legal opinion has been obtained confirming settlement finality of the cryptoasset.
All entities performing transfer, settlement or redeemability functions of the cryptoasset follow robust risk governance and risk control policies and practices to address all significant risksFootnote5.
All entities that execute redemptions, transfers, storage, or settlement finality of the cryptoasset, or manage or invest reserve assets, are regulated and supervised, or subject to appropriate risk management standards. For a stablecoin to receive Group 1 treatment, the issuer must be prudentially regulated and subject to capital and liquidity requirements that are comparable to those of OSFI.
Group 2 cryptoassets are those that fail to meet one or more of the above criteria.

A cryptoasset exposure is a Group 1 exposure if its value or risk is substantially determined by the value of a Group 1 cryptoasset. Otherwise, it is a Group 2 cryptoasset exposure.

The above constitutes a simplified categorization relative to the second consultation paper on the prudential treatment of cryptoassets published by the Basel Committee on Banking Supervision (BCBS) in June 2022
…
Group 2 cryptoasset exposures in the banking book should be deducted from Common Equity Tier 1 (CET1) capital. As short positions have unlimited risk, short positions in cryptoasset exposures are not permitted in the banking book, consistent with the treatment of other short positions. The treatment of Group 2 cryptoasset exposures in the trading book is outlined in Section 4.4 below.

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	-0.1921 %	2,496.8
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.1921 %	4,788.8
Floater	6.33 %	6.43 %	55,769	13.21	2	-0.1921 %	2,759.8
OpRet	0.00 %	0.00 %	0	0.00	0	-0.0897 %	3,484.4
SplitShare	4.88 %	5.68 %	40,178	3.06	8	-0.0897 %	4,161.1
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.0897 %	3,246.7
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.2429 %	2,867.5
Perpetual-Discount	5.94 %	6.08 %	72,062	13.75	35	-0.2429 %	3,126.9
FixedReset Disc	4.70 %	5.96 %	112,765	13.87	59	0.3030 %	2,517.2
Insurance Straight	5.86 %	5.97 %	84,721	13.87	19	-0.0373 %	3,070.9
FloatingReset	6.98 %	7.23 %	40,479	12.19	2	0.1246 %	2,608.7
FixedReset Prem	5.06 %	4.27 %	113,780	1.85	6	-0.1498 %	2,615.7
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	0.3030 %	2,573.1
FixedReset Ins Non	4.64 %	6.08 %	59,754	13.77	14	0.5116 %	2,626.6

Performance Highlights
Issue	Index	Change	Notes
NA.PR.W	FixedReset Disc	-10.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 6.44 %
BAM.PR.M	Perpetual-Discount	-2.46 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.81 Evaluated at bid price : 19.81 Bid-YTW : 6.10 %
CU.PR.F	Perpetual-Discount	-1.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.34 Evaluated at bid price : 19.34 Bid-YTW : 5.84 %
IFC.PR.F	Insurance Straight	-1.77 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.98 Evaluated at bid price : 22.25 Bid-YTW : 6.04 %
TRP.PR.A	FixedReset Disc	-1.67 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 15.87 Evaluated at bid price : 15.87 Bid-YTW : 7.34 %
PWF.PR.T	FixedReset Disc	-1.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 6.76 %
MFC.PR.Q	FixedReset Ins Non	-1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 22.10 Evaluated at bid price : 22.75 Bid-YTW : 6.02 %
MFC.PR.N	FixedReset Ins Non	-1.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.32 Evaluated at bid price : 19.32 Bid-YTW : 6.51 %
GWO.PR.N	FixedReset Ins Non	-1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 14.19 Evaluated at bid price : 14.19 Bid-YTW : 6.50 %
BIP.PR.E	FixedReset Disc	-1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 22.85 Evaluated at bid price : 23.55 Bid-YTW : 6.29 %
BAM.PF.B	FixedReset Disc	1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.86 %
BIP.PR.F	FixedReset Disc	1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 23.05 Evaluated at bid price : 23.51 Bid-YTW : 6.19 %
GWO.PR.I	Insurance Straight	1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.55 Evaluated at bid price : 19.55 Bid-YTW : 5.85 %
GWO.PR.T	Insurance Straight	1.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.61 Evaluated at bid price : 21.89 Bid-YTW : 5.97 %
RY.PR.H	FixedReset Disc	1.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.49 Evaluated at bid price : 21.85 Bid-YTW : 5.71 %
TD.PF.E	FixedReset Disc	1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.74 Evaluated at bid price : 22.00 Bid-YTW : 6.04 %
TD.PF.D	FixedReset Disc	1.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.00 %
TD.PF.C	FixedReset Disc	1.90 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.83 %
NA.PR.E	FixedReset Disc	2.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 22.84 Evaluated at bid price : 23.48 Bid-YTW : 5.81 %
BMO.PR.T	FixedReset Disc	2.28 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.80 %
TD.PF.A	FixedReset Disc	2.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.41 Evaluated at bid price : 21.41 Bid-YTW : 5.83 %
SLF.PR.G	FixedReset Ins Non	3.39 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 14.63 Evaluated at bid price : 14.63 Bid-YTW : 6.67 %
NA.PR.S	FixedReset Disc	3.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.70 Evaluated at bid price : 22.15 Bid-YTW : 5.86 %
MFC.PR.L	FixedReset Ins Non	4.51 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 6.49 %
IFC.PR.A	FixedReset Ins Non	5.61 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.02 Evaluated at bid price : 19.02 Bid-YTW : 6.12 %
CM.PR.O	FixedReset Disc	5.71 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.36 Evaluated at bid price : 21.67 Bid-YTW : 5.84 %
TRP.PR.G	FixedReset Disc	11.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 6.71 %

Volume Highlights
Issue	Index	Shares Traded	Notes
NA.PR.W	FixedReset Disc	66,169	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 6.44 %
PVS.PR.K	SplitShare	24,274	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 23.00 Bid-YTW : 6.10 %
RY.PR.Z	FixedReset Disc	23,477	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.42 Evaluated at bid price : 21.75 Bid-YTW : 5.72 %
GWO.PR.T	Insurance Straight	17,200	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 21.61 Evaluated at bid price : 21.89 Bid-YTW : 5.97 %
MFC.PR.I	FixedReset Ins Non	16,115	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 22.90 Evaluated at bid price : 24.30 Bid-YTW : 5.96 %
GWO.PR.H	Insurance Straight	11,650	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 6.06 %
There were 0 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
CU.PR.F	Perpetual-Discount	Quote: 19.34 – 24.43 Spot Rate : 5.0900 Average : 3.0780 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.34 Evaluated at bid price : 19.34 Bid-YTW : 5.84 %
CIU.PR.A	Perpetual-Discount	Quote: 19.80 – 22.75 Spot Rate : 2.9500 Average : 1.7423 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 5.83 %
NA.PR.W	FixedReset Disc	Quote: 19.35 – 21.60 Spot Rate : 2.2500 Average : 1.2419 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 6.44 %
PWF.PR.E	Perpetual-Discount	Quote: 22.31 – 24.45 Spot Rate : 2.1400 Average : 1.1958 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 22.08 Evaluated at bid price : 22.31 Bid-YTW : 6.22 %
PWF.PR.P	FixedReset Disc	Quote: 14.20 – 15.50 Spot Rate : 1.3000 Average : 0.8883 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 14.20 Evaluated at bid price : 14.20 Bid-YTW : 7.00 %
MFC.PR.N	FixedReset Ins Non	Quote: 19.32 – 20.40 Spot Rate : 1.0800 Average : 0.9057 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-18 Maturity Price : 19.32 Evaluated at bid price : 19.32 Bid-YTW : 6.51 %

Market Action

August 17, 2022

TXPR closed at 618.38, down 0.56% on the day. Volume today was 914,630, third-lowest of the past 21 trading days.

CPD closed at 12.34, down 0.40% on the day. Volume was 62,660, near the median of the past 21 trading days.

ZPR closed at 10.35, down 0.67% on the day. Volume of 119,500 was near the median of the past 21 trading days.

Five-year Canada yields were up to 3.03% today.

PerpetualDiscounts now yield 6.05%, equivalent to 7.86% interest at the standard equivalency factor of 1.3x. Long corporates now yield 4.78%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has remained at the 310bp reported August 10.

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	0.2696 %	2,501.6
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.2696 %	4,798.0
Floater	6.32 %	6.41 %	56,317	13.24	2	0.2696 %	2,765.1
OpRet	0.00 %	0.00 %	0	0.00	0	0.2055 %	3,487.6
SplitShare	4.88 %	5.68 %	40,352	3.06	8	0.2055 %	4,164.9
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.2055 %	3,249.6
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.2883 %	2,874.5
Perpetual-Discount	5.93 %	6.05 %	73,001	13.83	35	-0.2883 %	3,134.5
FixedReset Disc	4.71 %	5.97 %	113,267	13.96	59	-0.5769 %	2,509.6
Insurance Straight	5.86 %	5.94 %	85,872	13.91	19	-0.2775 %	3,072.1
FloatingReset	6.99 %	7.23 %	40,326	12.19	2	0.0935 %	2,605.4
FixedReset Prem	5.06 %	4.27 %	115,058	1.85	6	0.0456 %	2,619.7
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.5769 %	2,565.4
FixedReset Ins Non	4.67 %	6.09 %	58,477	13.86	14	-1.1407 %	2,613.2

Performance Highlights
Issue	Index	Change	Notes
TRP.PR.G	FixedReset Disc	-9.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 7.40 %
IFC.PR.A	FixedReset Ins Non	-6.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 18.01 Evaluated at bid price : 18.01 Bid-YTW : 6.46 %
MFC.PR.L	FixedReset Ins Non	-4.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 18.42 Evaluated at bid price : 18.42 Bid-YTW : 6.78 %
CM.PR.O	FixedReset Disc	-4.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.18 %
NA.PR.S	FixedReset Disc	-3.43 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 6.09 %
CU.PR.J	Perpetual-Discount	-2.91 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.96 %
TD.PF.A	FixedReset Disc	-2.52 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 5.97 %
TD.PF.C	FixedReset Disc	-2.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 5.94 %
TD.PF.E	FixedReset Disc	-2.29 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.41 Evaluated at bid price : 21.74 Bid-YTW : 6.11 %
BMO.PR.W	FixedReset Disc	-2.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.18 Evaluated at bid price : 21.18 Bid-YTW : 5.87 %
MFC.PR.N	FixedReset Ins Non	-2.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 19.54 Evaluated at bid price : 19.54 Bid-YTW : 6.44 %
BIP.PR.A	FixedReset Disc	-1.98 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 7.63 %
CU.PR.H	Perpetual-Discount	-1.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 22.00 Evaluated at bid price : 22.00 Bid-YTW : 5.99 %
BIP.PR.F	FixedReset Disc	-1.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 22.82 Evaluated at bid price : 23.27 Bid-YTW : 6.25 %
MFC.PR.K	FixedReset Ins Non	-1.66 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.39 Evaluated at bid price : 21.39 Bid-YTW : 6.04 %
RY.PR.H	FixedReset Disc	-1.59 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.31 Evaluated at bid price : 21.60 Bid-YTW : 5.78 %
ELF.PR.F	Perpetual-Discount	-1.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.50 Evaluated at bid price : 21.76 Bid-YTW : 6.16 %
CU.PR.E	Perpetual-Discount	-1.47 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 5.75 %
SLF.PR.D	Insurance Straight	-1.34 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 19.81 Evaluated at bid price : 19.81 Bid-YTW : 5.71 %
IFC.PR.G	FixedReset Ins Non	-1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.95 Evaluated at bid price : 22.51 Bid-YTW : 6.09 %
PWF.PF.A	Perpetual-Discount	-1.26 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 18.78 Evaluated at bid price : 18.78 Bid-YTW : 6.05 %
CM.PR.P	FixedReset Disc	-1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.48 Evaluated at bid price : 21.48 Bid-YTW : 5.81 %
PWF.PR.G	Perpetual-Discount	-1.17 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 23.27 Evaluated at bid price : 23.57 Bid-YTW : 6.31 %
MFC.PR.M	FixedReset Ins Non	-1.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 19.87 Evaluated at bid price : 19.87 Bid-YTW : 6.45 %
TRP.PR.E	FixedReset Disc	-1.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 17.30 Evaluated at bid price : 17.30 Bid-YTW : 7.35 %
BAM.PF.J	FixedReset Disc	-1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 24.04 Evaluated at bid price : 24.75 Bid-YTW : 6.08 %
BMO.PR.Y	FixedReset Disc	-1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.82 Evaluated at bid price : 22.10 Bid-YTW : 5.84 %
BMO.PR.S	FixedReset Disc	-1.12 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.71 Evaluated at bid price : 22.16 Bid-YTW : 5.75 %
TRP.PR.B	FixedReset Disc	-1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 12.71 Evaluated at bid price : 12.71 Bid-YTW : 7.36 %
FTS.PR.G	FixedReset Disc	-1.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 6.58 %
TRP.PR.A	FixedReset Disc	1.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 16.14 Evaluated at bid price : 16.14 Bid-YTW : 7.22 %
SLF.PR.H	FixedReset Ins Non	1.21 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 17.55 Evaluated at bid price : 17.55 Bid-YTW : 6.54 %
PVS.PR.I	SplitShare	1.24 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-10-31 Maturity Price : 25.00 Evaluated at bid price : 24.55 Bid-YTW : 5.72 %
IFC.PR.F	Insurance Straight	1.80 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 22.27 Evaluated at bid price : 22.65 Bid-YTW : 5.93 %
BAM.PR.M	Perpetual-Discount	2.58 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 20.31 Evaluated at bid price : 20.31 Bid-YTW : 5.94 %
TD.PF.D	FixedReset Disc	9.60 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.38 Evaluated at bid price : 21.70 Bid-YTW : 6.08 %

Volume Highlights
Issue	Index	Shares Traded	Notes
BAM.PF.J	FixedReset Disc	68,035	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 24.04 Evaluated at bid price : 24.75 Bid-YTW : 6.08 %
PWF.PR.T	FixedReset Disc	33,060	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 6.66 %
BMO.PR.T	FixedReset Disc	32,528	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.02 Evaluated at bid price : 21.02 Bid-YTW : 5.93 %
CU.PR.C	FixedReset Disc	21,650	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.82 Evaluated at bid price : 22.25 Bid-YTW : 5.93 %
CM.PR.S	FixedReset Disc	21,016	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 23.20 Evaluated at bid price : 24.00 Bid-YTW : 5.56 %
TD.PF.K	FixedReset Disc	16,300	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 23.46 Evaluated at bid price : 23.95 Bid-YTW : 5.71 %
There were 7 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
MFC.PR.L	FixedReset Ins Non	Quote: 18.42 – 24.35 Spot Rate : 5.9300 Average : 3.4362 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 18.42 Evaluated at bid price : 18.42 Bid-YTW : 6.78 %
MFC.PR.M	FixedReset Ins Non	Quote: 19.87 – 22.00 Spot Rate : 2.1300 Average : 1.5003 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 19.87 Evaluated at bid price : 19.87 Bid-YTW : 6.45 %
CM.PR.O	FixedReset Disc	Quote: 20.50 – 21.93 Spot Rate : 1.4300 Average : 0.9451 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.18 %
TRP.PR.G	FixedReset Disc	Quote: 17.88 – 19.70 Spot Rate : 1.8200 Average : 1.3498 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 7.40 %
IFC.PR.A	FixedReset Ins Non	Quote: 18.01 – 19.20 Spot Rate : 1.1900 Average : 0.7583 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 18.01 Evaluated at bid price : 18.01 Bid-YTW : 6.46 %
TD.PF.E	FixedReset Disc	Quote: 21.74 – 22.45 Spot Rate : 0.7100 Average : 0.4359 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-17 Maturity Price : 21.41 Evaluated at bid price : 21.74 Bid-YTW : 6.11 %

Market Action

August 16, 2022

Canadian inflation came in as expected:

Canada’s annual inflation rate slowed to 7.6% in July, a two month low but still far above the Bank of Canada’s 2% target, as gasoline prices eased even though food prices rose at a 40-year high, Statistics Canada data showed on Tuesday.

The headline number matched analyst forecasts and was down from 8.1% in June. On a month-over-month basis, the index rose 0.1%, again matching forecasts.

CPI common, which the central bank says is the best gauge of the economy’s performance, was at 5.5%, while June’s CPI common was revised sharply up to 5.3%. CPI median edged up to 5.0% in July, while CPI trim eased slightly to 5.4%.

Gasoline prices rose 35.6% in July on an annual basis, slowing from a 54.6% increase in June. Gas prices fell 9.2% in July from June, the largest monthly decline since April 2020.

Grocery prices increased by 9.9% in July, the largest gain since August 1981 and up from 9.4% in June, as the cost of everyday staples such as baked goods and eggs accelerated.

… but the market reacted anyway:

The Canadian dollar strengthened against its U.S. counterpart on Tuesday as investors raised bets on another oversized interest rate hike by the Bank of Canada next month after domestic data showed rising underlying inflation pressures.
….
Money markets were pricing in 59 basis points of tightening by the central bank at its next policy announcement on Sept. 7, up from 53 basis points before the data. In July, the BoC hiked by a full percentage point.

The Canadian dollar was trading 0.5% higher at 1.2840 to the greenback, or 77.60 U.S. cents, clawing back some of the previous day’s sharp decline that came as the U.S. dollar broadly rallied. It traded in a range of 1.2832 to 1.2928.
…
Canadian government bond yields jumped across a flatter curve.

The 2-year touched its highest since July 14 at 3.372% before dipping to 3.336%, up 12.7 basis points on the day, while the 10-year was up 8 basis points at 2.775%.

Tiff Macklem wrote in the Financial Post:

The best way to protect people from high inflation is to eliminate it. That’s our job, and we are determined to do it. Tuesday’s inflation number offers a bit of relief, but unfortunately, it will take some time before inflation is back to normal. We know our job is not done yet — it won’t be done until inflation gets back to the two per cent target.

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	0.1157 %	2,494.9
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.1157 %	4,785.1
Floater	6.34 %	6.43 %	56,124	13.22	2	0.1157 %	2,757.7
OpRet	0.00 %	0.00 %	0	0.00	0	-0.0744 %	3,480.4
SplitShare	4.89 %	5.67 %	41,129	3.06	8	-0.0744 %	4,156.3
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	-0.0744 %	3,242.9
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	0.0817 %	2,882.8
Perpetual-Discount	5.91 %	6.06 %	73,604	13.80	35	0.0817 %	3,143.5
FixedReset Disc	4.69 %	5.90 %	107,080	13.86	59	0.3386 %	2,524.2
Insurance Straight	5.84 %	5.99 %	85,687	13.84	19	0.0248 %	3,080.6
FloatingReset	6.99 %	7.22 %	40,571	12.19	2	0.0312 %	2,603.0
FixedReset Prem	5.06 %	4.24 %	116,880	1.85	6	0.3465 %	2,618.5
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	0.3386 %	2,580.2
FixedReset Ins Non	4.61 %	6.01 %	54,578	13.85	14	0.1293 %	2,643.4

Performance Highlights
Issue	Index	Change	Notes
TD.PF.D	FixedReset Disc	-10.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 6.66 %
NA.PR.E	FixedReset Disc	-2.48 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 22.60 Evaluated at bid price : 23.21 Bid-YTW : 5.88 %
BMO.PR.T	FixedReset Disc	-2.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 5.93 %
SLF.PR.H	FixedReset Ins Non	-2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 17.34 Evaluated at bid price : 17.34 Bid-YTW : 6.61 %
BAM.PR.M	Perpetual-Discount	-1.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 6.10 %
TRP.PR.C	FixedReset Disc	-1.82 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 13.51 Evaluated at bid price : 13.51 Bid-YTW : 7.23 %
CU.PR.G	Perpetual-Discount	-1.72 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.46 Evaluated at bid price : 19.46 Bid-YTW : 5.81 %
GWO.PR.Y	Insurance Straight	-1.68 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.34 Evaluated at bid price : 19.34 Bid-YTW : 5.91 %
CM.PR.O	FixedReset Disc	-1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.51 Evaluated at bid price : 21.51 Bid-YTW : 5.90 %
PWF.PR.Z	Perpetual-Discount	-1.11 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.36 Evaluated at bid price : 21.36 Bid-YTW : 6.09 %
PVS.PR.K	SplitShare	-1.08 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 23.00 Bid-YTW : 6.10 %
GWO.PR.I	Insurance Straight	-1.02 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.43 Evaluated at bid price : 19.43 Bid-YTW : 5.88 %
MFC.PR.I	FixedReset Ins Non	1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 22.88 Evaluated at bid price : 24.25 Bid-YTW : 5.98 %
RY.PR.J	FixedReset Disc	1.04 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.99 Evaluated at bid price : 22.30 Bid-YTW : 5.88 %
GWO.PR.N	FixedReset Ins Non	1.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 14.35 Evaluated at bid price : 14.35 Bid-YTW : 6.43 %
RY.PR.S	FixedReset Disc	1.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 23.76 Evaluated at bid price : 24.15 Bid-YTW : 5.43 %
BMO.PR.W	FixedReset Disc	1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.34 Evaluated at bid price : 21.65 Bid-YTW : 5.73 %
PWF.PR.P	FixedReset Disc	1.36 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 14.20 Evaluated at bid price : 14.20 Bid-YTW : 6.99 %
BAM.PR.X	FixedReset Disc	1.40 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 6.55 %
GWO.PR.T	Insurance Straight	1.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.54 Evaluated at bid price : 21.80 Bid-YTW : 5.99 %
MFC.PR.Q	FixedReset Ins Non	1.58 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 22.55 Evaluated at bid price : 23.12 Bid-YTW : 5.93 %
TRP.PR.D	FixedReset Disc	1.83 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 17.82 Evaluated at bid price : 17.82 Bid-YTW : 7.27 %
MFC.PR.L	FixedReset Ins Non	1.84 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 6.46 %
BAM.PR.R	FixedReset Disc	2.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 16.65 Evaluated at bid price : 16.65 Bid-YTW : 7.16 %
IFC.PR.C	FixedReset Disc	2.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 6.28 %
CU.PR.J	Perpetual-Discount	3.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.79 %
TRP.PR.A	FixedReset Disc	3.10 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 15.98 Evaluated at bid price : 15.98 Bid-YTW : 7.29 %
BAM.PR.Z	FixedReset Disc	3.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 22.08 Evaluated at bid price : 22.70 Bid-YTW : 6.49 %
TRP.PR.E	FixedReset Disc	4.73 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 7.27 %
NA.PR.S	FixedReset Disc	5.52 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.71 Evaluated at bid price : 22.16 Bid-YTW : 5.85 %
BMO.PR.Y	FixedReset Disc	5.92 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 22.01 Evaluated at bid price : 22.35 Bid-YTW : 5.77 %
TRP.PR.G	FixedReset Disc	10.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 6.75 %

Volume Highlights
Issue	Index	Shares Traded	Notes
TD.PF.B	FixedReset Disc	111,758	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.52 Evaluated at bid price : 21.52 Bid-YTW : 5.86 %
TD.PF.M	FixedReset Prem	52,190	YTW SCENARIO Maturity Type : Call Maturity Date : 2024-07-31 Maturity Price : 25.00 Evaluated at bid price : 25.40 Bid-YTW : 4.38 %
GWO.PR.H	Insurance Straight	45,873	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 6.06 %
BAM.PR.K	Floater	37,078	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 12.97 Evaluated at bid price : 12.97 Bid-YTW : 6.44 %
GWO.PR.T	Insurance Straight	35,002	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.54 Evaluated at bid price : 21.80 Bid-YTW : 5.99 %
TRP.PR.D	FixedReset Disc	34,060	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 17.82 Evaluated at bid price : 17.82 Bid-YTW : 7.27 %
There were 31 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
BAM.PR.N	Perpetual-Discount	Quote: 20.00 – 23.00 Spot Rate : 3.0000 Average : 1.8162 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.04 %
TD.PF.D	FixedReset Disc	Quote: 19.80 – 22.35 Spot Rate : 2.5500 Average : 1.4708 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 6.66 %
BAM.PR.M	Perpetual-Discount	Quote: 19.80 – 21.69 Spot Rate : 1.8900 Average : 1.1627 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 6.10 %
BAM.PF.G	FixedReset Disc	Quote: 18.46 – 19.81 Spot Rate : 1.3500 Average : 0.8111 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 18.46 Evaluated at bid price : 18.46 Bid-YTW : 7.23 %
MIC.PR.A	Perpetual-Discount	Quote: 21.60 – 23.15 Spot Rate : 1.5500 Average : 1.1232 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 21.30 Evaluated at bid price : 21.60 Bid-YTW : 6.34 %
TRP.PR.B	FixedReset Disc	Quote: 12.85 – 14.15 Spot Rate : 1.3000 Average : 0.8987 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-16 Maturity Price : 12.85 Evaluated at bid price : 12.85 Bid-YTW : 7.29 %

Market Action

August 15, 2022

Canadian real estate is getting hurt in a thin market:

The Canadian Real Estate Association says home sales fell for the fifth consecutive month between June and July, but the latest drop was the smallest of the five.

On a seasonally adjusted basis, the association says sales in July fell 5.3 per cent compared with June. The actual number of sales last month was 37,975, down 29 per cent compared with July last year.

The average sales price was $629,971, down five per cent from $662,924 last July and on a seasonally adjusted basis amounted to $650,760, a three per cent drop from June.

Meanwhile China is cutting policy rates:

China’s central bank cut key lending rates in a surprise move on Monday to revive demand as data showed the economy unexpectedly slowing in July, with factory and retail activity squeezed by Beijing’s zero-COVID policy and a property crisis.

The grim set of figures indicate the world’s second largest economy is struggling to shake off the June quarter’s hit to growth from strict COVID-19 restrictions, prompting some economists to downgrade their projections.

Industrial output grew 3.8% in July from a year earlier, according to the National Bureau of Statistics (NBS), below the 3.9% expansion in June and a 4.6% increase expected by analysts in a Reuters poll.

Retail sales, which only just returned to growth in June, rose 2.7% from a year ago, missing forecasts for 5.0% growth and the 3.1% growth seen in June.

… and the CAD’s hurting:

The Canadian dollar CADUSD -0.94%decrease
fell to a one-week low against its broadly stronger U.S. counterpart on Monday, as disappointing Chinese economic data stoked fears of a global slowdown and ahead of a key domestic inflation report this week.

Global shares fell and the safe-haven U.S. dollar rallied against a basket of major currencies after data showed China’s economy unexpectedly slowed in July.

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	-0.1156 %	2,492.0
FixedFloater	0.00 %	0.00 %	0	0.00	0	-0.1156 %	4,779.6
Floater	6.34 %	6.44 %	55,111	13.21	2	-0.1156 %	2,754.5
OpRet	0.00 %	0.00 %	0	0.00	0	0.0231 %	3,483.0
SplitShare	4.88 %	5.79 %	41,377	3.06	8	0.0231 %	4,159.4
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.0231 %	3,245.4
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.0619 %	2,880.4
Perpetual-Discount	5.91 %	6.03 %	73,889	13.84	35	-0.0619 %	3,141.0
FixedReset Disc	4.70 %	5.94 %	109,623	13.87	59	-0.3815 %	2,515.7
Insurance Straight	5.84 %	6.02 %	85,372	13.80	19	0.0545 %	3,079.9
FloatingReset	6.99 %	7.22 %	37,562	12.20	2	-0.1246 %	2,602.2
FixedReset Prem	5.08 %	4.37 %	118,530	1.86	6	0.1178 %	2,609.4
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.3815 %	2,571.5
FixedReset Ins Non	4.62 %	6.05 %	54,519	13.85	14	-0.0897 %	2,640.0

Performance Highlights
Issue	Index	Change	Notes
TRP.PR.G	FixedReset Disc	-8.50 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 7.40 %
NA.PR.S	FixedReset Disc	-5.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.19 %
BMO.PR.Y	FixedReset Disc	-4.95 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 6.12 %
TRP.PR.D	FixedReset Disc	-3.85 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 7.40 %
TRP.PR.E	FixedReset Disc	-3.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 16.71 Evaluated at bid price : 16.71 Bid-YTW : 7.60 %
MFC.PR.L	FixedReset Ins Non	-2.56 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 6.57 %
TRP.PR.A	FixedReset Disc	-2.52 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 7.51 %
IFC.PR.F	Insurance Straight	-1.33 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 22.02 Evaluated at bid price : 22.30 Bid-YTW : 6.02 %
TRP.PR.B	FixedReset Disc	-1.31 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 12.83 Evaluated at bid price : 12.83 Bid-YTW : 7.30 %
RY.PR.J	FixedReset Disc	-1.25 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.82 Evaluated at bid price : 22.07 Bid-YTW : 5.94 %
GWO.PR.T	Insurance Straight	-1.24 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.49 Evaluated at bid price : 21.49 Bid-YTW : 6.09 %
FTS.PR.M	FixedReset Disc	-1.20 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 19.76 Evaluated at bid price : 19.76 Bid-YTW : 6.66 %
RY.PR.M	FixedReset Disc	-1.16 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 5.94 %
MFC.PR.Q	FixedReset Ins Non	-1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 22.10 Evaluated at bid price : 22.76 Bid-YTW : 6.02 %
PWF.PR.P	FixedReset Disc	-1.06 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 14.01 Evaluated at bid price : 14.01 Bid-YTW : 7.08 %
CIU.PR.A	Perpetual-Discount	-1.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 5.83 %
MFC.PR.J	FixedReset Ins Non	1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 22.80 Evaluated at bid price : 23.50 Bid-YTW : 5.90 %
CM.PR.P	FixedReset Disc	1.07 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.45 Evaluated at bid price : 21.80 Bid-YTW : 5.70 %
BAM.PR.X	FixedReset Disc	1.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 17.90 Evaluated at bid price : 17.90 Bid-YTW : 6.64 %
TD.PF.D	FixedReset Disc	1.14 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.90 Evaluated at bid price : 22.20 Bid-YTW : 5.95 %
IFC.PR.E	Insurance Straight	1.34 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 22.30 Evaluated at bid price : 22.65 Bid-YTW : 5.81 %
CU.PR.C	FixedReset Disc	1.54 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.92 Evaluated at bid price : 22.40 Bid-YTW : 5.88 %
BMO.PR.T	FixedReset Disc	1.65 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.80 %
MFC.PR.F	FixedReset Ins Non	1.81 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 14.66 Evaluated at bid price : 14.66 Bid-YTW : 6.63 %
SLF.PR.E	Insurance Straight	2.18 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.55 %

Volume Highlights
Issue	Index	Shares Traded	Notes
GWO.PR.H	Insurance Straight	196,159	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 20.36 Evaluated at bid price : 20.36 Bid-YTW : 6.05 %
CM.PR.P	FixedReset Disc	55,400	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.45 Evaluated at bid price : 21.80 Bid-YTW : 5.70 %
PWF.PR.Z	Perpetual-Discount	41,900	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.60 Evaluated at bid price : 21.60 Bid-YTW : 6.02 %
NA.PR.C	FixedReset Disc	39,200	YTW SCENARIO Maturity Type : Call Maturity Date : 2022-11-15 Maturity Price : 25.00 Evaluated at bid price : 24.92 Bid-YTW : 5.78 %
PWF.PR.H	Perpetual-Discount	30,064	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 22.83 Evaluated at bid price : 23.11 Bid-YTW : 6.27 %
MFC.PR.I	FixedReset Ins Non	17,700	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 22.77 Evaluated at bid price : 24.00 Bid-YTW : 6.05 %
There were 1 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
TRP.PR.G	FixedReset Disc	Quote: 17.88 – 20.05 Spot Rate : 2.1700 Average : 1.3653 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 7.40 %
NA.PR.S	FixedReset Disc	Quote: 21.00 – 22.49 Spot Rate : 1.4900 Average : 0.8958 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.19 %
BMO.PR.Y	FixedReset Disc	Quote: 21.10 – 22.41 Spot Rate : 1.3100 Average : 0.7912 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 6.12 %
IFC.PR.F	Insurance Straight	Quote: 22.30 – 23.30 Spot Rate : 1.0000 Average : 0.7040 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 22.02 Evaluated at bid price : 22.30 Bid-YTW : 6.02 %
MFC.PR.L	FixedReset Ins Non	Quote: 19.00 – 20.00 Spot Rate : 1.0000 Average : 0.7588 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 6.57 %
CM.PR.Q	FixedReset Disc	Quote: 21.90 – 22.64 Spot Rate : 0.7400 Average : 0.5244 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-15 Maturity Price : 21.52 Evaluated at bid price : 21.90 Bid-YTW : 5.97 %

Market Action

August 12, 2022

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	0.2317 %	2,494.9
FixedFloater	0.00 %	0.00 %	0	0.00	0	0.2317 %	4,785.1
Floater	6.34 %	6.42 %	40,618	13.24	2	0.2317 %	2,757.7
OpRet	0.00 %	0.00 %	0	0.00	0	0.0334 %	3,482.2
SplitShare	4.88 %	5.65 %	39,079	3.07	8	0.0334 %	4,158.5
Interest-Bearing	0.00 %	0.00 %	0	0.00	0	0.0334 %	3,244.6
Perpetual-Premium	0.00 %	0.00 %	0	0.00	0	-0.0763 %	2,882.2
Perpetual-Discount	5.91 %	6.03 %	76,567	13.82	35	-0.0763 %	3,142.9
FixedReset Disc	4.68 %	5.87 %	111,220	13.99	59	-0.0738 %	2,525.3
Insurance Straight	5.85 %	5.96 %	85,638	13.91	19	0.0223 %	3,078.2
FloatingReset	6.99 %	7.22 %	37,650	12.21	2	-0.2176 %	2,605.4
FixedReset Prem	5.08 %	4.35 %	119,156	1.86	6	-0.0981 %	2,606.4
FixedReset Bank Non	0.00 %	0.00 %	0	0.00	0	-0.0738 %	2,581.4
FixedReset Ins Non	4.61 %	6.03 %	55,246	13.89	14	0.0467 %	2,642.3

Performance Highlights
Issue	Index	Change	Notes
TRP.PR.E	FixedReset Disc	-2.15 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 17.27 Evaluated at bid price : 17.27 Bid-YTW : 7.36 %
SLF.PR.H	FixedReset Ins Non	-2.05 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 6.48 %
TRP.PR.A	FixedReset Disc	-2.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 15.90 Evaluated at bid price : 15.90 Bid-YTW : 7.32 %
PWF.PF.A	Perpetual-Discount	-2.00 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 19.08 Evaluated at bid price : 19.08 Bid-YTW : 5.95 %
BMO.PR.T	FixedReset Disc	-1.86 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 5.89 %
GWO.PR.H	Insurance Straight	-1.70 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 20.18 Evaluated at bid price : 20.18 Bid-YTW : 6.10 %
BNS.PR.I	FixedReset Disc	-1.38 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 23.86 Evaluated at bid price : 24.25 Bid-YTW : 5.49 %
CU.PR.C	FixedReset Disc	-1.30 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 21.69 Evaluated at bid price : 22.06 Bid-YTW : 5.97 %
TD.PF.D	FixedReset Disc	-1.13 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 21.56 Evaluated at bid price : 21.95 Bid-YTW : 6.00 %
TRP.PR.F	FloatingReset	-1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 16.70 Evaluated at bid price : 16.70 Bid-YTW : 7.22 %
FTS.PR.M	FixedReset Disc	1.01 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.58 %
GWO.PR.I	Insurance Straight	1.03 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 5.80 %
BAM.PF.G	FixedReset Disc	1.09 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 7.21 %
PVS.PR.H	SplitShare	1.25 %	YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2027-02-28 Maturity Price : 25.00 Evaluated at bid price : 24.35 Bid-YTW : 5.60 %
BAM.PF.B	FixedReset Disc	1.27 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 19.90 Evaluated at bid price : 19.90 Bid-YTW : 6.89 %
BAM.PF.F	FixedReset Disc	1.44 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 7.11 %
BIP.PR.A	FixedReset Disc	2.53 %	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 7.48 %

Volume Highlights
Issue	Index	Shares Traded	Notes
NA.PR.W	FixedReset Disc	52,270	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.80 %
SLF.PR.J	FloatingReset	28,172	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 15.40 Evaluated at bid price : 15.40 Bid-YTW : 6.98 %
GWO.PR.L	Insurance Straight	23,481	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 22.90 Evaluated at bid price : 23.17 Bid-YTW : 6.18 %
PWF.PR.R	Perpetual-Discount	21,500	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 22.12 Evaluated at bid price : 22.40 Bid-YTW : 6.18 %
PWF.PR.G	Perpetual-Discount	20,262	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 23.61 Evaluated at bid price : 23.88 Bid-YTW : 6.23 %
GWO.PR.H	Insurance Straight	18,800	YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 20.18 Evaluated at bid price : 20.18 Bid-YTW : 6.10 %
There were 6 other index-included issues trading in excess of 10,000 shares.

Wide Spread Highlights
Issue	Index	Quote Data and Yield Notes
CU.PR.F	Perpetual-Discount	Quote: 19.85 – 24.43 Spot Rate : 4.5800 Average : 2.5264 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 5.69 %
BAM.PF.B	FixedReset Disc	Quote: 19.90 – 21.15 Spot Rate : 1.2500 Average : 0.8497 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 19.90 Evaluated at bid price : 19.90 Bid-YTW : 6.89 %
SLF.PR.E	Insurance Straight	Quote: 20.16 – 21.15 Spot Rate : 0.9900 Average : 0.6463 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 20.16 Evaluated at bid price : 20.16 Bid-YTW : 5.66 %
BNS.PR.I	FixedReset Disc	Quote: 24.25 – 25.00 Spot Rate : 0.7500 Average : 0.4475 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 23.86 Evaluated at bid price : 24.25 Bid-YTW : 5.49 %
BMO.PR.T	FixedReset Disc	Quote: 21.15 – 22.17 Spot Rate : 1.0200 Average : 0.7757 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 5.89 %
MFC.PR.B	Insurance Straight	Quote: 20.54 – 21.99 Spot Rate : 1.4500 Average : 1.2115 YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-08-12 Maturity Price : 20.54 Evaluated at bid price : 20.54 Bid-YTW : 5.76 %

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Category: Market Action

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