Category: Market Action

Market Action

March 14, 2022

The five-year Canada bond yield rocketted up to 1.95% today and Rob Carrick pointed out that preferreds are on sale … so of course the market went down. What a world!

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 3.29 % 3.90 % 33,127 19.54 1 0.2660 % 2,685.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.0516 % 5,128.3
Floater 3.42 % 3.42 % 62,231 18.73 3 -1.0516 % 2,955.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1091 % 3,645.5
SplitShare 4.70 % 4.25 % 28,687 3.41 7 -0.1091 % 4,353.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1091 % 3,396.8
Perpetual-Premium 5.34 % 1.31 % 51,417 0.08 16 -0.4061 % 3,191.1
Perpetual-Discount 5.02 % 5.07 % 63,006 15.32 16 -0.8199 % 3,681.9
FixedReset Disc 4.23 % 4.74 % 117,734 15.90 46 -0.0375 % 2,682.2
Insurance Straight 5.07 % 4.79 % 91,234 15.34 18 -0.8898 % 3,535.3
FloatingReset 3.24 % 2.84 % 58,891 20.15 2 0.2924 % 2,784.0
FixedReset Prem 4.78 % 4.30 % 143,263 2.23 23 -0.0531 % 2,685.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.0375 % 2,741.7
FixedReset Ins Non 4.39 % 4.82 % 73,433 15.80 17 -0.1171 % 2,768.2
Performance Highlights
Issue Index Change Notes
BAM.PF.E FixedReset Disc -3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 19.41
Evaluated at bid price : 19.41
Bid-YTW : 5.58 %
PWF.PF.A Perpetual-Discount -2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.91
Evaluated at bid price : 23.20
Bid-YTW : 4.90 %
GWO.PR.R Insurance Straight -2.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 5.10 %
GWO.PR.I Insurance Straight -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.55
Evaluated at bid price : 22.80
Bid-YTW : 4.93 %
GWO.PR.Y Insurance Straight -1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.99
Evaluated at bid price : 23.40
Bid-YTW : 4.79 %
MFC.PR.N FixedReset Ins Non -1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 4.95 %
PWF.PR.S Perpetual-Discount -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 23.67
Evaluated at bid price : 23.95
Bid-YTW : 5.06 %
BAM.PR.B Floater -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 13.71
Evaluated at bid price : 13.71
Bid-YTW : 3.44 %
BAM.PF.F FixedReset Disc -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 21.26
Evaluated at bid price : 21.54
Bid-YTW : 5.43 %
BAM.PR.N Perpetual-Discount -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.72
Evaluated at bid price : 23.01
Bid-YTW : 5.16 %
POW.PR.D Perpetual-Discount -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 24.44
Evaluated at bid price : 24.68
Bid-YTW : 5.14 %
PWF.PR.L Perpetual-Discount -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 24.64
Evaluated at bid price : 24.90
Bid-YTW : 5.18 %
GWO.PR.H Insurance Straight -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 23.59
Evaluated at bid price : 23.86
Bid-YTW : 5.08 %
TD.PF.C FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.13
Evaluated at bid price : 22.50
Bid-YTW : 4.62 %
SLF.PR.C Insurance Straight -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 23.48
Evaluated at bid price : 23.75
Bid-YTW : 4.68 %
IAF.PR.B Insurance Straight -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 23.42
Evaluated at bid price : 23.71
Bid-YTW : 4.85 %
FTS.PR.K FixedReset Disc 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.13 %
BAM.PF.J FixedReset Prem 1.05 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.19
Bid-YTW : 3.49 %
BAM.PR.R FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.24 %
FTS.PR.G FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.00 %
RY.PR.M FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.51
Evaluated at bid price : 23.25
Bid-YTW : 4.55 %
NA.PR.S FixedReset Disc 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.70
Evaluated at bid price : 23.00
Bid-YTW : 4.70 %
CU.PR.G Perpetual-Discount 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.48
Evaluated at bid price : 22.75
Bid-YTW : 4.97 %
BAM.PF.I FixedReset Prem 1.16 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.85
Bid-YTW : -21.75 %
TRP.PR.F FloatingReset 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 3.64 %
MFC.PR.F FixedReset Ins Non 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 16.46
Evaluated at bid price : 16.46
Bid-YTW : 4.75 %
IFC.PR.G FixedReset Ins Non 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.93
Evaluated at bid price : 23.40
Bid-YTW : 4.80 %
BAM.PF.A FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 23.03
Evaluated at bid price : 23.45
Bid-YTW : 5.16 %
BIP.PR.E FixedReset Prem 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 24.48
Evaluated at bid price : 24.85
Bid-YTW : 5.02 %
TRP.PR.C FixedReset Disc 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 5.46 %
CM.PR.Q FixedReset Disc 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.88
Evaluated at bid price : 23.90
Bid-YTW : 4.60 %
PWF.PR.P FixedReset Disc 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 16.05
Evaluated at bid price : 16.05
Bid-YTW : 5.04 %
BAM.PR.X FixedReset Disc 2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 5.40 %
BIP.PR.A FixedReset Disc 2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.33
Evaluated at bid price : 22.88
Bid-YTW : 5.67 %
Volume Highlights
Issue Index Shares
Traded		 Notes
MFC.PR.N FixedReset Ins Non 51,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 4.95 %
TD.PF.C FixedReset Disc 32,360 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.13
Evaluated at bid price : 22.50
Bid-YTW : 4.62 %
TD.PF.A FixedReset Disc 22,290 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.22
Evaluated at bid price : 22.60
Bid-YTW : 4.56 %
TD.PF.M FixedReset Prem 19,476 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.80
Bid-YTW : 3.97 %
CM.PR.T FixedReset Prem 17,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.95
Bid-YTW : 3.67 %
BAM.PR.K Floater 16,799 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 13.90
Evaluated at bid price : 13.90
Bid-YTW : 3.39 %
There were 5 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.C FixedReset Disc Quote: 22.50 – 23.70
Spot Rate : 1.2000
Average : 0.6932

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.13
Evaluated at bid price : 22.50
Bid-YTW : 4.62 %
TRP.PR.C FixedReset Disc Quote: 14.50 – 15.70
Spot Rate : 1.2000
Average : 0.8250

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 14.50
Evaluated at bid price : 14.50
Bid-YTW : 5.46 %
BAM.PF.F FixedReset Disc Quote: 21.54 – 22.90
Spot Rate : 1.3600
Average : 0.9911

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 21.26
Evaluated at bid price : 21.54
Bid-YTW : 5.43 %
BMO.PR.E FixedReset Prem Quote: 24.72 – 25.25
Spot Rate : 0.5300
Average : 0.3382

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 23.56
Evaluated at bid price : 24.72
Bid-YTW : 4.65 %
BAM.PF.E FixedReset Disc Quote: 19.41 – 21.00
Spot Rate : 1.5900
Average : 1.4009

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 19.41
Evaluated at bid price : 19.41
Bid-YTW : 5.58 %
PWF.PF.A Perpetual-Discount Quote: 23.20 – 24.00
Spot Rate : 0.8000
Average : 0.6369

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-14
Maturity Price : 22.91
Evaluated at bid price : 23.20
Bid-YTW : 4.90 %
Market Action

March 11, 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 3.30 % 3.91 % 34,371 19.55 1 0.0000 % 2,678.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 3.5900 % 5,182.8
Floater 3.39 % 3.41 % 58,667 18.64 3 3.5900 % 2,986.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.0980 % 3,649.5
SplitShare 4.70 % 4.24 % 28,657 3.42 7 0.0980 % 4,358.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0980 % 3,400.5
Perpetual-Premium 5.32 % -5.41 % 48,586 0.08 16 -0.0541 % 3,204.1
Perpetual-Discount 4.98 % 4.99 % 62,156 15.31 16 0.3186 % 3,712.4
FixedReset Disc 4.23 % 4.54 % 117,744 16.26 46 0.6973 % 2,683.2
Insurance Straight 5.03 % 4.70 % 88,893 15.51 18 0.0386 % 3,567.0
FloatingReset 3.21 % 2.78 % 59,601 20.32 2 0.4405 % 2,775.9
FixedReset Prem 4.78 % 4.14 % 142,878 2.24 23 0.1698 % 2,687.1
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.6973 % 2,742.8
FixedReset Ins Non 4.38 % 4.64 % 75,342 16.13 17 0.0681 % 2,771.5
Performance Highlights
Issue Index Change Notes
SLF.PR.G FixedReset Ins Non -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 4.43 %
CU.PR.G Perpetual-Discount -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.02 %
BAM.PR.X FixedReset Disc -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 17.03
Evaluated at bid price : 17.03
Bid-YTW : 5.27 %
TRP.PR.G FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 21.70
Evaluated at bid price : 22.00
Bid-YTW : 5.03 %
MFC.PR.J FixedReset Ins Non 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 22.76
Evaluated at bid price : 23.30
Bid-YTW : 4.67 %
FTS.PR.M FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 21.08
Evaluated at bid price : 21.08
Bid-YTW : 4.99 %
CM.PR.O FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 22.02
Evaluated at bid price : 22.28
Bid-YTW : 4.54 %
POW.PR.D Perpetual-Discount 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 24.68
Evaluated at bid price : 25.00
Bid-YTW : 5.06 %
FTS.PR.H FixedReset Disc 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 15.60
Evaluated at bid price : 15.60
Bid-YTW : 4.77 %
NA.PR.W FixedReset Disc 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 22.15
Evaluated at bid price : 22.55
Bid-YTW : 4.41 %
CU.PR.F Perpetual-Discount 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 22.59
Evaluated at bid price : 22.84
Bid-YTW : 4.95 %
CU.PR.C FixedReset Disc 2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 21.41
Evaluated at bid price : 21.70
Bid-YTW : 4.79 %
FTS.PR.K FixedReset Disc 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 4.95 %
RY.PR.J FixedReset Disc 3.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 22.83
Evaluated at bid price : 23.76
Bid-YTW : 4.46 %
PWF.PF.A Perpetual-Discount 3.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 23.55
Evaluated at bid price : 23.90
Bid-YTW : 4.74 %
BAM.PR.B Floater 3.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 14.05
Evaluated at bid price : 14.05
Bid-YTW : 3.40 %
BAM.PF.E FixedReset Disc 5.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 5.19 %
TD.PF.A FixedReset Disc 6.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 22.11
Evaluated at bid price : 22.44
Bid-YTW : 4.41 %
BAM.PR.K Floater 7.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 3.41 %
Volume Highlights
Issue Index Shares
Traded		 Notes
MFC.PR.R FixedReset Ins Non 84,000 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-18
Maturity Price : 25.00
Evaluated at bid price : 24.98
Bid-YTW : 4.64 %
CU.PR.H Perpetual-Premium 28,625 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-09-01
Maturity Price : 25.50
Evaluated at bid price : 25.68
Bid-YTW : 3.94 %
TRP.PR.A FixedReset Disc 22,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 17.48
Evaluated at bid price : 17.48
Bid-YTW : 5.21 %
CM.PR.R FixedReset Prem 21,000 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.14
Bid-YTW : 4.33 %
TD.PF.L FixedReset Prem 18,300 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.94
Bid-YTW : 3.65 %
NA.PR.C FixedReset Prem 18,200 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-11-15
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 3.74 %
There were 7 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
BAM.PR.R FixedReset Disc Quote: 19.10 – 20.30
Spot Rate : 1.2000
Average : 0.8134

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.12 %
BAM.PR.X FixedReset Disc Quote: 17.03 – 18.50
Spot Rate : 1.4700
Average : 1.0873

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 17.03
Evaluated at bid price : 17.03
Bid-YTW : 5.27 %
BAM.PF.G FixedReset Disc Quote: 21.40 – 22.20
Spot Rate : 0.8000
Average : 0.5140

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.14 %
BAM.PR.T FixedReset Disc Quote: 20.35 – 21.50
Spot Rate : 1.1500
Average : 0.8913

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.07 %
TRP.PR.A FixedReset Disc Quote: 17.48 – 18.50
Spot Rate : 1.0200
Average : 0.7656

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 17.48
Evaluated at bid price : 17.48
Bid-YTW : 5.21 %
BAM.PF.A FixedReset Disc Quote: 23.45 – 23.97
Spot Rate : 0.5200
Average : 0.3368

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-11
Maturity Price : 23.03
Evaluated at bid price : 23.45
Bid-YTW : 5.06 %
Market Action

March 10, 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 3.29 % 3.90 % 35,833 19.56 1 0.2132 % 2,678.1
FixedFloater 0.00 % 0.00 % 0 0.00 0 -2.0611 % 5,003.2
Floater 3.51 % 3.53 % 59,279 18.38 3 -2.0611 % 2,883.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.2019 % 3,645.9
SplitShare 4.70 % 4.24 % 29,600 3.43 7 0.2019 % 4,354.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2019 % 3,397.2
Perpetual-Premium 5.32 % -5.59 % 48,813 0.08 16 0.0123 % 3,205.9
Perpetual-Discount 4.99 % 5.00 % 64,596 15.37 16 -0.7310 % 3,700.6
FixedReset Disc 4.26 % 4.63 % 119,811 16.25 46 -0.6119 % 2,664.6
Insurance Straight 5.03 % 4.67 % 90,280 15.52 18 0.2139 % 3,565.6
FloatingReset 3.22 % 2.79 % 60,086 20.28 2 -1.3043 % 2,763.7
FixedReset Prem 4.79 % 4.16 % 144,790 3.43 23 -0.1644 % 2,682.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.6119 % 2,723.8
FixedReset Ins Non 4.39 % 4.63 % 78,453 16.13 17 -0.5179 % 2,769.6
Performance Highlights
Issue Index Change Notes
TD.PF.A FixedReset Disc -6.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 4.74 %
BAM.PR.K Floater -5.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 3.66 %
BAM.PF.E FixedReset Disc -4.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.46 %
RY.PR.J FixedReset Disc -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.42
Evaluated at bid price : 23.00
Bid-YTW : 4.63 %
MFC.PR.F FixedReset Ins Non -3.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 16.25
Evaluated at bid price : 16.25
Bid-YTW : 4.58 %
PWF.PF.A Perpetual-Discount -2.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.71
Evaluated at bid price : 23.11
Bid-YTW : 4.90 %
FTS.PR.K FixedReset Disc -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 5.07 %
CU.PR.G Perpetual-Discount -2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.58
Evaluated at bid price : 22.85
Bid-YTW : 4.94 %
RY.PR.Z FixedReset Disc -2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.13
Evaluated at bid price : 22.40
Bid-YTW : 4.39 %
CU.PR.C FixedReset Disc -2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 4.92 %
CU.PR.F Perpetual-Discount -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.27
Evaluated at bid price : 22.54
Bid-YTW : 5.01 %
MFC.PR.J FixedReset Ins Non -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.54
Evaluated at bid price : 23.05
Bid-YTW : 4.72 %
IFC.PR.A FixedReset Ins Non -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 4.64 %
BAM.PR.M Perpetual-Discount -1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.86
Evaluated at bid price : 23.13
Bid-YTW : 5.22 %
IFC.PR.C FixedReset Disc -1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 21.93
Evaluated at bid price : 22.40
Bid-YTW : 4.69 %
FTS.PR.M FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.05 %
SLF.PR.J FloatingReset -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 2.79 %
MFC.PR.N FixedReset Ins Non -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 4.71 %
BAM.PF.C Perpetual-Discount -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 23.45
Evaluated at bid price : 23.74
Bid-YTW : 5.19 %
FTS.PR.H FixedReset Disc -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 15.40
Evaluated at bid price : 15.40
Bid-YTW : 4.83 %
POW.PR.D Perpetual-Discount -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 24.45
Evaluated at bid price : 24.69
Bid-YTW : 5.13 %
TRP.PR.F FloatingReset -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 3.65 %
CM.PR.O FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 21.60
Evaluated at bid price : 22.01
Bid-YTW : 4.58 %
RY.PR.H FixedReset Disc -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.24
Evaluated at bid price : 22.60
Bid-YTW : 4.38 %
SLF.PR.H FixedReset Ins Non -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 4.41 %
BMO.PR.T FixedReset Disc -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 21.59
Evaluated at bid price : 22.00
Bid-YTW : 4.48 %
BNS.PR.I FixedReset Prem -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 23.52
Evaluated at bid price : 24.75
Bid-YTW : 4.25 %
SLF.PR.C Insurance Straight 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 4.62 %
CM.PR.Q FixedReset Disc 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.60
Evaluated at bid price : 23.35
Bid-YTW : 4.56 %
GWO.PR.T Insurance Straight 1.60 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.45
Bid-YTW : 4.63 %
PWF.PR.P FixedReset Disc 6.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 15.90
Evaluated at bid price : 15.90
Bid-YTW : 4.85 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.A FixedReset Disc 78,416 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 5.23 %
GWO.PR.N FixedReset Ins Non 47,024 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 15.71
Evaluated at bid price : 15.71
Bid-YTW : 4.44 %
TRP.PR.D FixedReset Disc 43,118 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.29 %
MFC.PR.R FixedReset Ins Non 41,568 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-18
Maturity Price : 25.00
Evaluated at bid price : 24.99
Bid-YTW : 4.14 %
SLF.PR.H FixedReset Ins Non 28,588 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 4.41 %
FTS.PR.M FixedReset Disc 27,354 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.05 %
There were 11 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.A FixedReset Disc Quote: 21.00 – 22.53
Spot Rate : 1.5300
Average : 0.8732

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 4.74 %
BAM.PR.K Floater Quote: 13.05 – 14.09
Spot Rate : 1.0400
Average : 0.6963

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 3.66 %
FTS.PR.M FixedReset Disc Quote: 20.84 – 21.70
Spot Rate : 0.8600
Average : 0.5584

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.05 %
RY.PR.J FixedReset Disc Quote: 23.00 – 23.83
Spot Rate : 0.8300
Average : 0.5587

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.42
Evaluated at bid price : 23.00
Bid-YTW : 4.63 %
BAM.PF.E FixedReset Disc Quote: 19.40 – 21.00
Spot Rate : 1.6000
Average : 1.3291

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.46 %
CU.PR.G Perpetual-Discount Quote: 22.85 – 23.85
Spot Rate : 1.0000
Average : 0.7373

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-10
Maturity Price : 22.58
Evaluated at bid price : 22.85
Bid-YTW : 4.94 %
Market Action

March 9, 2022

PerpetualDiscounts now yield 5.00%, equivalent to 6.50% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.93%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has narrowed slightly (and perhaps spuriously) to 255bp from the 260bp reported February 23.

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 3.29 % 3.90 % 36,330 19.57 1 0.8602 % 2,672.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2187 % 5,108.5
Floater 3.44 % 3.46 % 58,946 18.53 3 0.2187 % 2,944.1
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1205 % 3,638.6
SplitShare 4.71 % 4.29 % 30,819 3.43 7 -0.1205 % 4,345.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1205 % 3,390.3
Perpetual-Premium 5.32 % -4.83 % 48,861 0.08 16 0.1232 % 3,205.5
Perpetual-Discount 4.96 % 5.00 % 65,429 15.37 16 0.5526 % 3,727.8
FixedReset Disc 4.23 % 4.30 % 120,899 16.73 46 1.8583 % 2,681.0
Insurance Straight 5.04 % 4.74 % 91,322 15.53 18 0.4572 % 3,558.0
FloatingReset 3.21 % 2.78 % 59,519 20.31 2 0.4367 % 2,800.2
FixedReset Prem 4.78 % 3.92 % 145,177 3.43 23 0.3230 % 2,687.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 1.8583 % 2,740.6
FixedReset Ins Non 4.36 % 4.38 % 81,251 16.63 17 0.3701 % 2,784.0
Performance Highlights
Issue Index Change Notes
CM.PR.Q FixedReset Disc -2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.40
Evaluated at bid price : 23.00
Bid-YTW : 4.41 %
MFC.PR.K FixedReset Ins Non -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 21.39
Evaluated at bid price : 21.70
Bid-YTW : 4.32 %
PWF.PR.F Perpetual-Premium -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 24.88
Evaluated at bid price : 25.10
Bid-YTW : 5.29 %
FTS.PR.K FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 19.36
Evaluated at bid price : 19.36
Bid-YTW : 4.64 %
TD.PF.M FixedReset Prem 1.01 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.94
Bid-YTW : 3.70 %
BAM.PF.D Perpetual-Discount 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.74
Evaluated at bid price : 24.00
Bid-YTW : 5.19 %
BMO.PR.Y FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.67
Evaluated at bid price : 23.50
Bid-YTW : 4.21 %
NA.PR.S FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.46
Evaluated at bid price : 22.75
Bid-YTW : 4.30 %
CM.PR.O FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.00
Evaluated at bid price : 22.26
Bid-YTW : 4.29 %
SLF.PR.E Insurance Straight 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.70
Evaluated at bid price : 24.01
Bid-YTW : 4.67 %
TRP.PR.B FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 13.15
Evaluated at bid price : 13.15
Bid-YTW : 4.89 %
CU.PR.C FixedReset Disc 1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 21.37
Evaluated at bid price : 21.65
Bid-YTW : 4.49 %
POW.PR.D Perpetual-Discount 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 24.68
Evaluated at bid price : 25.00
Bid-YTW : 5.06 %
GWO.PR.S Insurance Straight 1.37 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2023-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.09
Bid-YTW : 4.74 %
TRP.PR.A FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 17.57
Evaluated at bid price : 17.57
Bid-YTW : 4.86 %
TRP.PR.E FixedReset Disc 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.00 %
BIP.PR.F FixedReset Prem 1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.52
Evaluated at bid price : 24.70
Bid-YTW : 5.10 %
BAM.PR.N Perpetual-Discount 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.31
Evaluated at bid price : 23.59
Bid-YTW : 5.11 %
BAM.PR.M Perpetual-Discount 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.21
Evaluated at bid price : 23.51
Bid-YTW : 5.13 %
BIP.PR.A FixedReset Disc 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 21.91
Evaluated at bid price : 22.25
Bid-YTW : 5.43 %
GWO.PR.N FixedReset Ins Non 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 4.09 %
IFC.PR.G FixedReset Ins Non 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.03
Evaluated at bid price : 23.50
Bid-YTW : 4.40 %
MFC.PR.F FixedReset Ins Non 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 4.14 %
PWF.PR.T FixedReset Disc 2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.47
Evaluated at bid price : 22.80
Bid-YTW : 4.29 %
BAM.PF.E FixedReset Disc 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 4.93 %
BAM.PR.X FixedReset Disc 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 17.30
Evaluated at bid price : 17.30
Bid-YTW : 4.81 %
TD.PF.E FixedReset Disc 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.89
Evaluated at bid price : 24.00
Bid-YTW : 4.28 %
NA.PR.W FixedReset Disc 5.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 21.94
Evaluated at bid price : 22.25
Bid-YTW : 4.22 %
TD.PF.D FixedReset Disc 10.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.83
Evaluated at bid price : 23.80
Bid-YTW : 4.26 %
TRP.PR.G FixedReset Disc 81.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 21.95
Evaluated at bid price : 22.35
Bid-YTW : 4.72 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.S FixedReset Prem 57,250 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.56
Evaluated at bid price : 24.90
Bid-YTW : 3.90 %
GWO.PR.N FixedReset Ins Non 42,766 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 4.09 %
BIP.PR.A FixedReset Disc 31,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 21.91
Evaluated at bid price : 22.25
Bid-YTW : 5.43 %
GWO.PR.Y Insurance Straight 24,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.31
Evaluated at bid price : 23.61
Bid-YTW : 4.75 %
RY.PR.J FixedReset Disc 23,329 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.85
Evaluated at bid price : 23.80
Bid-YTW : 4.22 %
TRP.PR.K FixedReset Prem 20,837 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.16
Bid-YTW : 2.75 %
There were 11 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CM.PR.Q FixedReset Disc Quote: 23.00 – 24.32
Spot Rate : 1.3200
Average : 0.9619

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.40
Evaluated at bid price : 23.00
Bid-YTW : 4.41 %
IFC.PR.A FixedReset Ins Non Quote: 19.27 – 21.25
Spot Rate : 1.9800
Average : 1.7408

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 4.23 %
BIP.PR.A FixedReset Disc Quote: 22.25 – 23.25
Spot Rate : 1.0000
Average : 0.7767

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 21.91
Evaluated at bid price : 22.25
Bid-YTW : 5.43 %
SLF.PR.D Insurance Straight Quote: 23.66 – 24.39
Spot Rate : 0.7300
Average : 0.5200

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.37
Evaluated at bid price : 23.66
Bid-YTW : 4.69 %
IFC.PR.C FixedReset Disc Quote: 22.75 – 23.34
Spot Rate : 0.5900
Average : 0.3947

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 22.15
Evaluated at bid price : 22.75
Bid-YTW : 4.40 %
CU.PR.G Perpetual-Discount Quote: 23.40 – 24.00
Spot Rate : 0.6000
Average : 0.4492

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-09
Maturity Price : 23.10
Evaluated at bid price : 23.40
Bid-YTW : 4.82 %
Market Action

March 8, 2022

The ongoing slide in the TXPR index is perplexing; surely with inflation becoming more of a menace, the five-year bond yield (GOC-5) must be on the way up! This shouldn’t make much, if any, difference to FixedReset prices of course, since what is important is spreads, not the absolute value of the expected dividends that should be critical – but the absolute value has been important in the past!

The GOC-5 has been gyrating recently between fear of inflation and a rush to quality, but overall the effect has been minor; the TXPR price index is down about 3.5% year-to-date and is now about even with its value on April 27, 2021 (when GOC-5 was about 0.87%, compared to 1.60% today). Robert McLister has an interesting piece in the Globe:

Of all the things that could possibly move Canadian mortgage rates, a murderous dictator committed to nuclear brinkmanship was not on the radar.
…
After the Russian President put his nuclear forces on high alert, BCA ballparked chances of a “civilization-ending global nuclear war” at 10 per cent in the next 12 months. Its surreal commentary would be hyperbolic if only we were dealing with a more stable adversary.

Whatever the true doomsday probability, the mere notion of nuclear weaponry being used in an escalation of the Russian war on Ukraine, and more broadly a recession that may result from soaring commodity-stoked inflation, has driven investors into the safe harbour of government bonds.

That bond buying crushed Canada’s five-year yield by more than 30 basis points in just days. By Tuesday evening, the yield had bounced back somewhat, trading at 1.61 per cent – down from a Feb. 16 high of 1.859 per cent. (There are 100 basis points in a percentage point.)
…
These previously unthinkable scenarios have spawned two trends.

The first is a surge in risk premiums. That is, market fear and uncertainty are raising the cost of mortgage funding relative to risk-free government bonds. So despite bond yields dropping, banks have been hesitant to cut fixed mortgage rates, especially with competition already squeezing profit margins.

Second, there’s a very real danger that central banks temporarily lose control of inflation. Textbooks say this risk should be met by aggressive short-term rate tightening. And if it is, variable mortgage rates will go along for the ride.
…
Mr. Volcker was a Federal Reserve chair who had to use brute-force rate hikes to battle inflation expectations, driving North America into painful recessions in the early 1980s. Central banks should have learned a lesson from Mr. Volcker’s predecessors – that worrying too much about killing the economy short-term can lead to dire inflation that ravages the economy long-term.

The next 30 days of war could rewrite the inflation and growth narrative again. For all anyone knows, the probability of recession next year could skyrocket, with rates tumbling back down.

Whatever! Prices are down but spreads are up, allowing increased purchasing with reinvested dividends to mitigate the disappointment of holding an asset with decreased prices. Market price is a mere bagatelle, of interest only to market timers (who will eventually lose all their money anyway) and those with a definite need to dip into capital in the short- to medium-term (who should have funds dedicated to this purpose invested in something else). Those of us who may consider ourselves rational long-term investors should, on balance, be pleased with the volatility in the preferred share market – it keeps the dilettantes and their money away from the market and so serves to increase our liquidity premium – discussed here on many occasions, for instance here.

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 3.31 % 3.94 % 36,800 19.53 1 -1.3263 % 2,649.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.5315 % 5,097.4
Floater 3.44 % 3.46 % 59,256 18.53 3 -1.5315 % 2,937.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.1965 % 3,643.0
SplitShare 4.71 % 4.23 % 28,665 3.43 7 0.1965 % 4,350.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1965 % 3,394.4
Perpetual-Premium 5.33 % -6.09 % 50,783 0.08 16 -0.1721 % 3,201.5
Perpetual-Discount 4.98 % 5.01 % 66,485 15.36 16 -0.2055 % 3,707.3
FixedReset Disc 4.31 % 4.44 % 117,311 16.44 46 -1.2896 % 2,632.1
Insurance Straight 5.06 % 4.77 % 92,722 15.48 18 1.6900 % 3,541.8
FloatingReset 3.22 % 2.80 % 61,951 20.27 2 4.2489 % 2,788.0
FixedReset Prem 4.80 % 4.13 % 146,286 2.24 23 -0.6418 % 2,678.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -1.2896 % 2,690.6
FixedReset Ins Non 4.38 % 4.34 % 81,647 16.61 17 -0.4093 % 2,773.7
Performance Highlights
Issue Index Change Notes
TRP.PR.G FixedReset Disc -45.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 12.31
Evaluated at bid price : 12.31
Bid-YTW : 8.48 %
TD.PF.D FixedReset Disc -9.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 4.79 %
TD.PF.E FixedReset Disc -5.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.43
Evaluated at bid price : 23.10
Bid-YTW : 4.48 %
NA.PR.W FixedReset Disc -5.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 4.50 %
IFC.PR.G FixedReset Ins Non -4.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.55
Evaluated at bid price : 23.00
Bid-YTW : 4.50 %
TRP.PR.F FloatingReset -3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 3.64 %
MFC.PR.K FixedReset Ins Non -3.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.70
Evaluated at bid price : 22.15
Bid-YTW : 4.22 %
BAM.PF.H FixedReset Prem -2.98 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 26.05
Bid-YTW : 4.09 %
BAM.PR.X FixedReset Disc -2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 4.95 %
TRP.PR.E FixedReset Disc -2.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 19.07
Evaluated at bid price : 19.07
Bid-YTW : 5.07 %
BIP.PR.F FixedReset Prem -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.98
Evaluated at bid price : 24.30
Bid-YTW : 5.24 %
PWF.PR.T FixedReset Disc -2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.73
Evaluated at bid price : 22.20
Bid-YTW : 4.39 %
CU.PR.J Perpetual-Premium -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.90
Evaluated at bid price : 24.25
Bid-YTW : 4.91 %
BIP.PR.E FixedReset Prem -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.93
Evaluated at bid price : 24.40
Bid-YTW : 5.11 %
TRP.PR.A FixedReset Disc -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 17.33
Evaluated at bid price : 17.33
Bid-YTW : 4.93 %
BAM.PR.Z FixedReset Disc -1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.66
Evaluated at bid price : 23.25
Bid-YTW : 4.83 %
BAM.PR.B Floater -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 13.55
Evaluated at bid price : 13.55
Bid-YTW : 3.53 %
TD.PF.M FixedReset Prem -1.80 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.68
Bid-YTW : 4.15 %
BAM.PR.R FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 18.98
Evaluated at bid price : 18.98
Bid-YTW : 4.89 %
BMO.PR.T FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.63
Evaluated at bid price : 22.05
Bid-YTW : 4.20 %
BAM.PR.M Perpetual-Discount -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.83
Evaluated at bid price : 23.11
Bid-YTW : 5.22 %
GWO.PR.Y Insurance Straight -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.21
Evaluated at bid price : 23.51
Bid-YTW : 4.77 %
CU.PR.C FixedReset Disc -1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 4.56 %
MFC.PR.J FixedReset Ins Non -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.96
Evaluated at bid price : 23.51
Bid-YTW : 4.36 %
FTS.PR.M FixedReset Disc -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 4.67 %
TRP.PR.D FixedReset Disc -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 19.46
Evaluated at bid price : 19.46
Bid-YTW : 5.03 %
BAM.PR.C Floater -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 13.79
Evaluated at bid price : 13.79
Bid-YTW : 3.46 %
FTS.PR.G FixedReset Disc -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 20.58
Evaluated at bid price : 20.58
Bid-YTW : 4.48 %
CM.PR.P FixedReset Disc -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.81
Evaluated at bid price : 22.07
Bid-YTW : 4.28 %
BMO.PR.W FixedReset Disc -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.94
Evaluated at bid price : 22.22
Bid-YTW : 4.20 %
BAM.PR.E Ratchet -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 25.00
Evaluated at bid price : 18.60
Bid-YTW : 3.94 %
PWF.PR.Z Perpetual-Premium -1.33 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : 5.01 %
BAM.PR.K Floater -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 13.81
Evaluated at bid price : 13.81
Bid-YTW : 3.46 %
NA.PR.S FixedReset Disc -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.20
Evaluated at bid price : 22.50
Bid-YTW : 4.35 %
FTS.PR.H FixedReset Disc -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 15.55
Evaluated at bid price : 15.55
Bid-YTW : 4.44 %
CU.PR.G Perpetual-Discount -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.10
Evaluated at bid price : 23.40
Bid-YTW : 4.82 %
CM.PR.Q FixedReset Disc -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.73
Evaluated at bid price : 23.60
Bid-YTW : 4.28 %
MFC.PR.B Insurance Straight -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.58
Evaluated at bid price : 23.85
Bid-YTW : 4.88 %
CM.PR.Y FixedReset Prem -1.14 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 26.10
Bid-YTW : 3.49 %
BAM.PF.D Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.50
Evaluated at bid price : 23.75
Bid-YTW : 5.24 %
BIP.PR.A FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.50
Evaluated at bid price : 21.87
Bid-YTW : 5.52 %
EMA.PR.L Perpetual-Discount -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.58
Evaluated at bid price : 23.91
Bid-YTW : 4.84 %
BMO.PR.F FixedReset Prem -1.03 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-05-25
Maturity Price : 25.00
Evaluated at bid price : 25.93
Bid-YTW : 3.44 %
FTS.PR.K FixedReset Disc -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 4.59 %
TD.PF.J FixedReset Prem -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 24.32
Evaluated at bid price : 24.70
Bid-YTW : 4.28 %
PWF.PR.G Perpetual-Premium 2.00 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-07
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : -11.08 %
PWF.PF.A Perpetual-Discount 2.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.37
Evaluated at bid price : 23.70
Bid-YTW : 4.78 %
GWO.PR.N FixedReset Ins Non 3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 15.52
Evaluated at bid price : 15.52
Bid-YTW : 4.16 %
MFC.PR.F FixedReset Ins Non 3.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 16.41
Evaluated at bid price : 16.41
Bid-YTW : 4.24 %
RY.PR.J FixedReset Disc 3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.85
Evaluated at bid price : 23.79
Bid-YTW : 4.22 %
BAM.PF.E FixedReset Disc 4.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 5.06 %
SLF.PR.J FloatingReset 12.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 2.80 %
GWO.PR.H Insurance Straight 19.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.74
Evaluated at bid price : 24.05
Bid-YTW : 5.03 %
GWO.PR.I Insurance Straight 23.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.90
Evaluated at bid price : 23.17
Bid-YTW : 4.85 %
TD.PF.B FixedReset Disc 49.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.26
Evaluated at bid price : 22.61
Bid-YTW : 4.16 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.R FixedReset Prem 484,313 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.15
Bid-YTW : 4.13 %
RY.PR.S FixedReset Prem 32,824 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 23.54
Evaluated at bid price : 24.85
Bid-YTW : 3.91 %
TRP.PR.K FixedReset Prem 32,813 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.16
Bid-YTW : 2.71 %
CM.PR.Y FixedReset Prem 30,989 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 26.10
Bid-YTW : 3.49 %
GWO.PR.G Insurance Straight 29,229 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-07
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 3.51 %
RY.PR.Z FixedReset Disc 18,121 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.61
Evaluated at bid price : 22.91
Bid-YTW : 4.03 %
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.G FixedReset Disc Quote: 12.31 – 22.90
Spot Rate : 10.5900
Average : 8.2185

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 12.31
Evaluated at bid price : 12.31
Bid-YTW : 8.48 %
TD.PF.D FixedReset Disc Quote: 21.50 – 24.07
Spot Rate : 2.5700
Average : 1.4816

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 4.79 %
TD.PF.E FixedReset Disc Quote: 23.10 – 24.43
Spot Rate : 1.3300
Average : 0.7462

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 22.43
Evaluated at bid price : 23.10
Bid-YTW : 4.48 %
NA.PR.W FixedReset Disc Quote: 21.00 – 22.41
Spot Rate : 1.4100
Average : 0.8493

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 4.50 %
IFC.PR.A FixedReset Ins Non Quote: 19.24 – 21.25
Spot Rate : 2.0100
Average : 1.4786

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 4.24 %
PWF.PR.P FixedReset Disc Quote: 15.00 – 16.90
Spot Rate : 1.9000
Average : 1.3759

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-08
Maturity Price : 15.00
Evaluated at bid price : 15.00
Bid-YTW : 4.80 %
Market Action

March 7, 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 3.26 % 3.87 % 36,440 19.63 1 -1.9251 % 2,685.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 2.3512 % 5,176.7
Floater 3.39 % 3.41 % 58,411 18.65 3 2.3512 % 2,983.3
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1233 % 3,635.8
SplitShare 4.72 % 4.23 % 29,709 3.43 7 -0.1233 % 4,342.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1233 % 3,387.8
Perpetual-Premium 5.32 % -8.37 % 51,360 0.08 16 -0.3577 % 3,207.0
Perpetual-Discount 4.97 % 5.00 % 67,158 15.38 16 -0.4944 % 3,715.0
FixedReset Disc 4.25 % 4.38 % 114,880 16.65 46 -0.6104 % 2,666.5
Insurance Straight 5.15 % 4.74 % 93,906 15.33 18 -2.8039 % 3,483.0
FloatingReset 3.36 % 3.53 % 45,026 18.49 2 -5.8571 % 2,674.4
FixedReset Prem 4.77 % 3.94 % 139,512 3.45 23 -0.2826 % 2,695.6
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.6104 % 2,725.7
FixedReset Ins Non 4.36 % 4.30 % 81,879 16.68 17 -0.0271 % 2,785.1
Performance Highlights
Issue Index Change Notes
TD.PF.B FixedReset Disc -33.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.15
Evaluated at bid price : 15.15
Bid-YTW : 6.26 %
GWO.PR.I Insurance Straight -19.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.02 %
GWO.PR.H Insurance Straight -17.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.02 %
SLF.PR.J FloatingReset -11.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 3.15 %
BAM.PF.E FixedReset Disc -7.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.29 %
MFC.PR.F FixedReset Ins Non -7.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.87
Evaluated at bid price : 15.87
Bid-YTW : 4.38 %
GWO.PR.N FixedReset Ins Non -6.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.02
Evaluated at bid price : 15.02
Bid-YTW : 4.30 %
PWF.PR.P FixedReset Disc -5.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.01
Evaluated at bid price : 15.01
Bid-YTW : 4.80 %
RY.PR.J FixedReset Disc -4.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.41
Evaluated at bid price : 23.00
Bid-YTW : 4.39 %
PWF.PF.A Perpetual-Discount -3.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.71
Evaluated at bid price : 23.11
Bid-YTW : 4.90 %
TRP.PR.C FixedReset Disc -3.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 14.28
Evaluated at bid price : 14.28
Bid-YTW : 4.94 %
IFC.PR.E Insurance Straight -2.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 24.71
Evaluated at bid price : 25.00
Bid-YTW : 5.28 %
SLF.PR.G FixedReset Ins Non -2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 4.12 %
TRP.PR.B FixedReset Disc -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 12.96
Evaluated at bid price : 12.96
Bid-YTW : 4.96 %
SLF.PR.D Insurance Straight -2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.36
Evaluated at bid price : 23.65
Bid-YTW : 4.69 %
BAM.PF.A FixedReset Disc -2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.08
Evaluated at bid price : 23.50
Bid-YTW : 4.78 %
BAM.PF.C Perpetual-Discount -2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 5.19 %
GWO.PR.R Insurance Straight -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.56
Evaluated at bid price : 23.83
Bid-YTW : 5.03 %
PWF.PR.S Perpetual-Discount -2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.88
Evaluated at bid price : 24.15
Bid-YTW : 5.02 %
PWF.PR.G Perpetual-Premium -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 24.68
Evaluated at bid price : 25.00
Bid-YTW : 5.97 %
MFC.PR.Q FixedReset Ins Non -2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.02
Evaluated at bid price : 23.50
Bid-YTW : 4.31 %
BAM.PR.E Ratchet -1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 25.00
Evaluated at bid price : 18.85
Bid-YTW : 3.87 %
CU.PR.C FixedReset Disc -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.45
Evaluated at bid price : 21.75
Bid-YTW : 4.47 %
BAM.PF.F FixedReset Disc -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.90
Evaluated at bid price : 22.15
Bid-YTW : 4.91 %
SLF.PR.C Insurance Straight -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.32
Evaluated at bid price : 23.60
Bid-YTW : 4.70 %
TD.PF.D FixedReset Disc -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.83
Evaluated at bid price : 23.80
Bid-YTW : 4.26 %
MFC.PR.M FixedReset Ins Non -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.38
Evaluated at bid price : 21.70
Bid-YTW : 4.41 %
FTS.PR.H FixedReset Disc -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 4.39 %
MFC.PR.J FixedReset Ins Non -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.35
Evaluated at bid price : 23.89
Bid-YTW : 4.29 %
PWF.PR.T FixedReset Disc -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.38
Evaluated at bid price : 22.70
Bid-YTW : 4.30 %
NA.PR.E FixedReset Disc -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.51
Evaluated at bid price : 24.00
Bid-YTW : 4.27 %
BIP.PR.A FixedReset Disc -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.80
Evaluated at bid price : 22.10
Bid-YTW : 5.47 %
IFC.PR.C FixedReset Disc -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.19
Evaluated at bid price : 22.81
Bid-YTW : 4.38 %
CM.PR.S FixedReset Disc -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.65
Evaluated at bid price : 24.20
Bid-YTW : 4.10 %
TRP.PR.E FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 4.95 %
BAM.PR.B Floater -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 3.46 %
IFC.PR.A FixedReset Ins Non -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 4.24 %
IFC.PR.G FixedReset Ins Non -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.66
Evaluated at bid price : 24.10
Bid-YTW : 4.29 %
BAM.PR.Z FixedReset Disc -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.08
Evaluated at bid price : 23.70
Bid-YTW : 4.74 %
SLF.PR.E Insurance Straight -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 4.74 %
TRP.PR.D FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 19.77
Evaluated at bid price : 19.77
Bid-YTW : 4.95 %
BAM.PF.I FixedReset Prem -1.15 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.80
Bid-YTW : -9.64 %
BMO.PR.S FixedReset Disc -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.30
Evaluated at bid price : 22.64
Bid-YTW : 4.22 %
NA.PR.S FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.50
Evaluated at bid price : 22.79
Bid-YTW : 4.29 %
TRP.PR.A FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 17.68
Evaluated at bid price : 17.68
Bid-YTW : 4.83 %
BIP.PR.F FixedReset Prem -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.58
Evaluated at bid price : 24.85
Bid-YTW : 5.07 %
CU.PR.F Perpetual-Discount -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.71
Evaluated at bid price : 23.00
Bid-YTW : 4.91 %
POW.PR.D Perpetual-Discount -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 24.60
Evaluated at bid price : 24.85
Bid-YTW : 5.09 %
GWO.PR.Q Insurance Straight -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 24.54
Evaluated at bid price : 24.79
Bid-YTW : 5.19 %
BAM.PF.D Perpetual-Discount -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.74
Evaluated at bid price : 24.00
Bid-YTW : 5.18 %
BAM.PR.R FixedReset Disc -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 19.32
Evaluated at bid price : 19.32
Bid-YTW : 4.80 %
TD.PF.K FixedReset Disc -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.56
Evaluated at bid price : 24.70
Bid-YTW : 4.15 %
FTS.PR.M FixedReset Disc 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.33
Evaluated at bid price : 21.64
Bid-YTW : 4.57 %
CU.PR.G Perpetual-Discount 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 4.76 %
CM.PR.P FixedReset Disc 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.05
Evaluated at bid price : 22.39
Bid-YTW : 4.21 %
BAM.PR.C Floater 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 14.00
Evaluated at bid price : 14.00
Bid-YTW : 3.41 %
MFC.PR.L FixedReset Ins Non 2.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 4.37 %
BAM.PR.X FixedReset Disc 2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 4.82 %
MFC.PR.K FixedReset Ins Non 3.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.46
Evaluated at bid price : 22.85
Bid-YTW : 4.09 %
FTS.PR.K FixedReset Disc 3.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 4.54 %
CM.PR.Q FixedReset Disc 3.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 22.87
Evaluated at bid price : 23.90
Bid-YTW : 4.22 %
BAM.PR.N Perpetual-Discount 5.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.07
Evaluated at bid price : 23.33
Bid-YTW : 5.17 %
BAM.PR.K Floater 7.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 13.99
Evaluated at bid price : 13.99
Bid-YTW : 3.41 %
MFC.PR.N FixedReset Ins Non 20.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 4.39 %
TRP.PR.G FixedReset Disc 82.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 21.97
Evaluated at bid price : 22.38
Bid-YTW : 4.71 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.R FixedReset Prem 90,394 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.15
Bid-YTW : 4.11 %
RY.PR.S FixedReset Prem 44,919 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 23.56
Evaluated at bid price : 24.90
Bid-YTW : 3.90 %
CM.PR.Y FixedReset Prem 35,074 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 26.40
Bid-YTW : 2.97 %
TD.PF.M FixedReset Prem 32,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 26.15
Bid-YTW : 3.33 %
TRP.PR.K FixedReset Prem 31,600 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.16
Bid-YTW : 2.68 %
PWF.PR.L Perpetual-Discount 28,990 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-06
Maturity Price : 25.00
Evaluated at bid price : 25.22
Bid-YTW : 0.16 %
There were 12 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TD.PF.B FixedReset Disc Quote: 15.15 – 22.94
Spot Rate : 7.7900
Average : 4.1743

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.15
Evaluated at bid price : 15.15
Bid-YTW : 6.26 %
GWO.PR.I Insurance Straight Quote: 18.75 – 23.79
Spot Rate : 5.0400
Average : 2.7623

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.02 %
GWO.PR.H Insurance Straight Quote: 20.20 – 24.35
Spot Rate : 4.1500
Average : 2.2771

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.02 %
SLF.PR.J FloatingReset Quote: 15.50 – 17.89
Spot Rate : 2.3900
Average : 1.4763

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 3.15 %
BAM.PF.E FixedReset Disc Quote: 19.00 – 20.80
Spot Rate : 1.8000
Average : 1.1410

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.29 %
BAM.PR.E Ratchet Quote: 18.85 – 20.40
Spot Rate : 1.5500
Average : 1.0048

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-07
Maturity Price : 25.00
Evaluated at bid price : 18.85
Bid-YTW : 3.87 %
Market Action

March 4, 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 3.19 % 3.76 % 37,993 19.77 1 0.6283 % 2,738.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -2.0863 % 5,057.7
Floater 3.47 % 3.46 % 56,352 18.54 3 -2.0863 % 2,914.8
OpRet 0.00 % 0.00 % 0 0.00 0 0.1909 % 3,640.3
SplitShare 4.66 % 4.16 % 30,932 3.35 6 0.1909 % 4,347.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1909 % 3,391.9
Perpetual-Premium 5.24 % 1.72 % 61,885 0.09 21 -0.0998 % 3,218.6
Perpetual-Discount 4.93 % 5.01 % 61,980 15.47 11 -0.0689 % 3,733.4
FixedReset Disc 4.17 % 4.46 % 115,859 16.45 43 -0.8479 % 2,682.9
Insurance Straight 5.00 % 4.67 % 91,457 15.66 18 0.3605 % 3,583.5
FloatingReset 2.95 % 2.57 % 64,215 20.89 2 -0.1427 % 2,840.8
FixedReset Prem 4.78 % 3.93 % 135,053 2.26 26 -0.1163 % 2,703.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.8479 % 2,742.4
FixedReset Ins Non 4.36 % 4.42 % 84,993 16.37 17 -1.9788 % 2,785.9
Performance Highlights
Issue Index Change Notes
MFC.PR.N FixedReset Ins Non -19.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 17.77
Evaluated at bid price : 17.77
Bid-YTW : 5.53 %
FTS.PR.K FixedReset Disc -6.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 19.09
Evaluated at bid price : 19.09
Bid-YTW : 4.93 %
BAM.PR.K Floater -5.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 3.66 %
MFC.PR.L FixedReset Ins Non -4.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 4.67 %
BAM.PR.X FixedReset Disc -4.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 5.24 %
MFC.PR.K FixedReset Ins Non -4.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.63
Evaluated at bid price : 22.05
Bid-YTW : 4.44 %
BAM.PR.T FixedReset Disc -4.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 5.10 %
CM.PR.P FixedReset Disc -3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.80
Evaluated at bid price : 22.06
Bid-YTW : 4.46 %
FTS.PR.M FixedReset Disc -2.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 4.84 %
RY.PR.M FixedReset Disc -2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.36
Evaluated at bid price : 23.00
Bid-YTW : 4.38 %
BIP.PR.A FixedReset Disc -2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.03
Evaluated at bid price : 22.42
Bid-YTW : 5.55 %
BAM.PR.M Perpetual-Discount -2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.26
Evaluated at bid price : 23.56
Bid-YTW : 5.11 %
CM.PR.O FixedReset Disc -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.09
Evaluated at bid price : 22.38
Bid-YTW : 4.44 %
FTS.PR.G FixedReset Disc -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 4.60 %
CU.PR.I FixedReset Prem -1.59 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 26.01
Bid-YTW : 3.37 %
NA.PR.W FixedReset Disc -1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.05
Evaluated at bid price : 22.40
Bid-YTW : 4.37 %
CU.PR.F Perpetual-Discount -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.97
Evaluated at bid price : 23.25
Bid-YTW : 4.85 %
BMO.PR.Y FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.64
Evaluated at bid price : 23.45
Bid-YTW : 4.39 %
MFC.PR.M FixedReset Ins Non -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.81
Evaluated at bid price : 22.05
Bid-YTW : 4.53 %
IAF.PR.I FixedReset Ins Non -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.88
Evaluated at bid price : 24.35
Bid-YTW : 4.53 %
MFC.PR.Q FixedReset Ins Non -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.54
Evaluated at bid price : 24.00
Bid-YTW : 4.41 %
FTS.PR.H FixedReset Disc -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 4.56 %
GWO.PR.N FixedReset Ins Non -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 16.01
Evaluated at bid price : 16.01
Bid-YTW : 4.27 %
BAM.PF.G FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.31
Evaluated at bid price : 21.31
Bid-YTW : 5.09 %
BAM.PF.D Perpetual-Premium -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.98
Evaluated at bid price : 24.25
Bid-YTW : 5.13 %
BAM.PR.R FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 4.94 %
SLF.PR.C Insurance Straight 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 4.62 %
CIU.PR.A Perpetual-Discount 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.71
Evaluated at bid price : 23.00
Bid-YTW : 5.01 %
IAF.PR.G FixedReset Ins Non 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.47
Evaluated at bid price : 24.35
Bid-YTW : 4.59 %
SLF.PR.E Insurance Straight 2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 4.67 %
SLF.PR.D Insurance Straight 2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 24.06
Evaluated at bid price : 24.32
Bid-YTW : 4.56 %
TRP.PR.E FixedReset Disc 2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.09 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.Y FixedReset Prem 154,668 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 26.43
Bid-YTW : 2.91 %
BMO.PR.F FixedReset Prem 77,566 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-05-25
Maturity Price : 25.00
Evaluated at bid price : 26.20
Bid-YTW : 2.92 %
NA.PR.C FixedReset Prem 52,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-11-15
Maturity Price : 25.00
Evaluated at bid price : 25.15
Bid-YTW : 3.93 %
MFC.PR.R FixedReset Ins Non 29,267 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-18
Maturity Price : 25.00
Evaluated at bid price : 24.98
Bid-YTW : 3.91 %
BMO.PR.C FixedReset Prem 21,300 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-25
Maturity Price : 25.00
Evaluated at bid price : 25.11
Bid-YTW : 2.92 %
TD.PF.K FixedReset Prem 15,548 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 23.66
Evaluated at bid price : 24.95
Bid-YTW : 4.27 %
There were 5 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.N FixedReset Ins Non Quote: 17.77 – 21.96
Spot Rate : 4.1900
Average : 2.2799

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 17.77
Evaluated at bid price : 17.77
Bid-YTW : 5.53 %
FTS.PR.K FixedReset Disc Quote: 19.09 – 20.09
Spot Rate : 1.0000
Average : 0.5838

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 19.09
Evaluated at bid price : 19.09
Bid-YTW : 4.93 %
MFC.PR.L FixedReset Ins Non Quote: 20.55 – 21.55
Spot Rate : 1.0000
Average : 0.6242

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 4.67 %
BAM.PR.N Perpetual-Discount Quote: 22.05 – 24.05
Spot Rate : 2.0000
Average : 1.6416

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.81
Evaluated at bid price : 22.05
Bid-YTW : 5.47 %
BIP.PR.A FixedReset Disc Quote: 22.42 – 23.60
Spot Rate : 1.1800
Average : 0.8400

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 22.03
Evaluated at bid price : 22.42
Bid-YTW : 5.55 %
MFC.PR.K FixedReset Ins Non Quote: 22.05 – 23.05
Spot Rate : 1.0000
Average : 0.7654

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-04
Maturity Price : 21.63
Evaluated at bid price : 22.05
Bid-YTW : 4.44 %
Market Action

March 3, 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 3.21 % 3.79 % 39,347 19.75 1 -1.0875 % 2,720.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.3951 % 5,165.5
Floater 3.40 % 3.43 % 58,826 18.61 3 -1.3951 % 2,976.9
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1577 % 3,633.4
SplitShare 4.66 % 4.26 % 31,250 3.35 6 -0.1577 % 4,339.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1577 % 3,385.5
Perpetual-Premium 5.23 % 1.06 % 62,736 0.09 21 0.2416 % 3,221.8
Perpetual-Discount 4.93 % 5.00 % 62,828 15.40 11 -0.4078 % 3,736.0
FixedReset Disc 4.13 % 4.40 % 115,561 16.52 43 1.3697 % 2,705.8
Insurance Straight 5.02 % 4.69 % 91,991 15.60 18 0.2979 % 3,570.6
FloatingReset 2.95 % 2.57 % 66,846 20.89 2 -0.8487 % 2,844.9
FixedReset Prem 4.78 % 3.78 % 135,526 2.03 26 0.3014 % 2,706.4
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 1.3697 % 2,765.9
FixedReset Ins Non 4.28 % 4.39 % 84,368 16.56 17 -0.4284 % 2,842.1
Performance Highlights
Issue Index Change Notes
BAM.PR.N Perpetual-Discount -6.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 21.81
Evaluated at bid price : 22.05
Bid-YTW : 5.47 %
TRP.PR.E FixedReset Disc -3.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.23 %
IFC.PR.A FixedReset Ins Non -3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 4.42 %
CIU.PR.A Perpetual-Discount -2.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.48
Evaluated at bid price : 22.74
Bid-YTW : 5.07 %
BAM.PR.R FixedReset Disc -2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 19.32
Evaluated at bid price : 19.32
Bid-YTW : 4.99 %
BAM.PR.K Floater -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 3.46 %
SLF.PR.J FloatingReset -1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 2.57 %
IFC.PR.C FixedReset Disc -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.43
Evaluated at bid price : 23.24
Bid-YTW : 4.44 %
MFC.PR.K FixedReset Ins Non -1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.60
Evaluated at bid price : 23.00
Bid-YTW : 4.25 %
BIP.PR.A FixedReset Disc -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.40
Evaluated at bid price : 23.00
Bid-YTW : 5.40 %
BAM.PR.C Floater -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 13.90
Evaluated at bid price : 13.90
Bid-YTW : 3.43 %
NA.PR.E FixedReset Disc -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.88
Evaluated at bid price : 24.32
Bid-YTW : 4.40 %
IAF.PR.G FixedReset Ins Non -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.15
Evaluated at bid price : 24.05
Bid-YTW : 4.64 %
PVS.PR.J SplitShare -1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 24.89
Bid-YTW : 4.50 %
BAM.PF.A FixedReset Prem -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.88
Evaluated at bid price : 24.25
Bid-YTW : 4.82 %
BAM.PR.E Ratchet -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 25.00
Evaluated at bid price : 19.10
Bid-YTW : 3.79 %
TRP.PR.C FixedReset Disc -1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 14.83
Evaluated at bid price : 14.83
Bid-YTW : 5.00 %
MFC.PR.Q FixedReset Ins Non -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.88
Evaluated at bid price : 24.30
Bid-YTW : 4.36 %
TD.PF.C FixedReset Disc -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.29
Evaluated at bid price : 22.75
Bid-YTW : 4.31 %
CU.PR.J Perpetual-Premium -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 24.37
Evaluated at bid price : 24.75
Bid-YTW : 4.80 %
FTS.PR.J Perpetual-Premium 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.91
Evaluated at bid price : 24.15
Bid-YTW : 4.93 %
MFC.PR.B Insurance Straight 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.85
Evaluated at bid price : 24.10
Bid-YTW : 4.82 %
SLF.PR.C Insurance Straight 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.48
Evaluated at bid price : 23.75
Bid-YTW : 4.67 %
SLF.PR.D Insurance Straight 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.36
Evaluated at bid price : 23.65
Bid-YTW : 4.69 %
PWF.PR.Z Perpetual-Premium 1.14 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.67
Bid-YTW : 4.62 %
IAF.PR.I FixedReset Ins Non 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 24.25
Evaluated at bid price : 24.66
Bid-YTW : 4.48 %
CU.PR.I FixedReset Prem 1.61 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 26.43
Bid-YTW : 2.90 %
TD.PF.D FixedReset Disc 1.89 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-07-31
Maturity Price : 25.00
Evaluated at bid price : 24.20
Bid-YTW : 4.33 %
BAM.PR.M Perpetual-Discount 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.74
Evaluated at bid price : 24.05
Bid-YTW : 5.00 %
PWF.PR.S Perpetual-Discount 2.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 24.51
Evaluated at bid price : 24.74
Bid-YTW : 4.89 %
BMO.PR.T FixedReset Disc 2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.17
Evaluated at bid price : 22.50
Bid-YTW : 4.31 %
IFC.PR.G FixedReset Ins Non 2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 24.18
Evaluated at bid price : 24.55
Bid-YTW : 4.39 %
BAM.PF.I FixedReset Prem 3.20 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.10
Bid-YTW : -15.59 %
BAM.PF.H FixedReset Prem 3.65 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 26.95
Bid-YTW : 3.08 %
BAM.PR.T FixedReset Disc 15.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 4.89 %
CM.PR.Q FixedReset Disc 16.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.39
Evaluated at bid price : 23.00
Bid-YTW : 4.57 %
RY.PR.M FixedReset Disc 56.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.69
Evaluated at bid price : 23.60
Bid-YTW : 4.25 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PWF.PR.L Perpetual-Premium 105,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 24.88
Evaluated at bid price : 25.10
Bid-YTW : 5.13 %
RY.PR.M FixedReset Disc 40,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 22.69
Evaluated at bid price : 23.60
Bid-YTW : 4.25 %
BMO.PR.C FixedReset Prem 38,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-25
Maturity Price : 25.00
Evaluated at bid price : 25.03
Bid-YTW : 4.32 %
TD.PF.M FixedReset Prem 36,035 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 26.07
Bid-YTW : 3.45 %
GWO.PR.G Insurance Straight 30,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-02
Maturity Price : 25.00
Evaluated at bid price : 25.16
Bid-YTW : -7.45 %
CM.PR.Y FixedReset Prem 29,976 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 26.40
Bid-YTW : 2.96 %
There were 20 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IFC.PR.E Insurance Straight Quote: 25.58 – 32.99
Spot Rate : 7.4100
Average : 4.0318

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.58
Bid-YTW : 4.86 %
BAM.PR.N Perpetual-Discount Quote: 22.05 – 24.06
Spot Rate : 2.0100
Average : 1.2486

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 21.81
Evaluated at bid price : 22.05
Bid-YTW : 5.47 %
BAM.PR.K Floater Quote: 13.80 – 15.50
Spot Rate : 1.7000
Average : 0.9847

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 13.80
Evaluated at bid price : 13.80
Bid-YTW : 3.46 %
TRP.PR.E FixedReset Disc Quote: 19.25 – 20.25
Spot Rate : 1.0000
Average : 0.6635

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.23 %
CU.PR.G Perpetual-Discount Quote: 23.60 – 24.88
Spot Rate : 1.2800
Average : 0.9825

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 23.30
Evaluated at bid price : 23.60
Bid-YTW : 4.78 %
PWF.PR.P FixedReset Disc Quote: 15.85 – 16.75
Spot Rate : 0.9000
Average : 0.7296

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-03
Maturity Price : 15.85
Evaluated at bid price : 15.85
Bid-YTW : 4.78 %
Market Action

March 2, 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 3.17 % 3.73 % 39,701 19.82 1 0.0518 % 2,750.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.2846 % 5,238.6
Floater 3.04 % 3.07 % 58,059 19.49 3 0.2846 % 3,019.0
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0919 % 3,639.1
SplitShare 4.66 % 4.26 % 32,537 3.62 6 -0.0919 % 4,345.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0919 % 3,390.8
Perpetual-Premium 5.25 % 3.19 % 62,618 0.49 21 0.2555 % 3,214.0
Perpetual-Discount 4.91 % 5.00 % 62,754 15.45 11 0.7719 % 3,751.3
FixedReset Disc 4.19 % 4.43 % 119,669 16.59 43 -2.0349 % 2,669.3
Insurance Straight 5.04 % 4.74 % 90,071 15.61 18 -0.0250 % 3,560.0
FloatingReset 2.92 % 2.52 % 66,556 21.03 2 9.4427 % 2,869.2
FixedReset Prem 4.79 % 4.09 % 137,127 2.26 26 -0.1255 % 2,698.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -2.0349 % 2,728.5
FixedReset Ins Non 4.26 % 4.31 % 83,703 16.60 17 -0.1136 % 2,854.4
Performance Highlights
Issue Index Change Notes
RY.PR.M FixedReset Disc -36.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 15.06
Evaluated at bid price : 15.06
Bid-YTW : 6.68 %
CM.PR.Q FixedReset Disc -17.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.37 %
BAM.PR.T FixedReset Disc -14.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 5.63 %
BAM.PF.H FixedReset Prem -3.88 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 26.00
Bid-YTW : 4.12 %
PWF.PR.P FixedReset Disc -3.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 15.85
Evaluated at bid price : 15.85
Bid-YTW : 4.78 %
BAM.PF.E FixedReset Disc -2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.09 %
BAM.PF.B FixedReset Disc -2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 21.60
Evaluated at bid price : 22.01
Bid-YTW : 4.96 %
BMO.PR.T FixedReset Disc -2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 21.59
Evaluated at bid price : 22.00
Bid-YTW : 4.40 %
IFC.PR.G FixedReset Ins Non -2.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.55
Evaluated at bid price : 24.00
Bid-YTW : 4.49 %
TD.PF.D FixedReset Disc -2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 22.80
Evaluated at bid price : 23.75
Bid-YTW : 4.43 %
BAM.PR.X FixedReset Disc -1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 4.99 %
IFC.PR.A FixedReset Ins Non -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 4.26 %
BAM.PF.F FixedReset Disc -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 22.16
Evaluated at bid price : 22.50
Bid-YTW : 5.01 %
MFC.PR.J FixedReset Ins Non -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.84
Evaluated at bid price : 24.33
Bid-YTW : 4.40 %
RY.PR.J FixedReset Disc -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 22.94
Evaluated at bid price : 24.00
Bid-YTW : 4.34 %
PWF.PR.K Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 24.50
Evaluated at bid price : 24.75
Bid-YTW : 5.04 %
GWO.PR.G Insurance Straight 1.05 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-01
Maturity Price : 25.00
Evaluated at bid price : 25.10
Bid-YTW : -4.80 %
CU.PR.E Perpetual-Premium 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 24.56
Evaluated at bid price : 24.81
Bid-YTW : 4.95 %
GWO.PR.M Insurance Straight 1.14 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-01
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : -22.71 %
NA.PR.W FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 22.29
Evaluated at bid price : 22.75
Bid-YTW : 4.29 %
MFC.PR.B Insurance Straight 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.58
Evaluated at bid price : 23.85
Bid-YTW : 4.87 %
BAM.PR.R FixedReset Disc 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 4.88 %
GWO.PR.S Insurance Straight 1.31 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2023-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.10
Bid-YTW : 4.63 %
GWO.PR.T Insurance Straight 1.32 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.22
Bid-YTW : 4.84 %
BAM.PR.M Perpetual-Discount 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.26
Evaluated at bid price : 23.56
Bid-YTW : 5.11 %
IAF.PR.B Insurance Straight 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.74
Evaluated at bid price : 24.05
Bid-YTW : 4.84 %
BAM.PR.B Floater 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 3.07 %
CM.PR.O FixedReset Disc 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 22.48
Evaluated at bid price : 22.95
Bid-YTW : 4.32 %
PWF.PF.A Perpetual-Discount 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.41
Evaluated at bid price : 23.75
Bid-YTW : 4.77 %
CIU.PR.A Perpetual-Discount 2.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 4.93 %
MFC.PR.M FixedReset Ins Non 4.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 22.10
Evaluated at bid price : 22.45
Bid-YTW : 4.44 %
SLF.PR.J FloatingReset 20.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 2.52 %
Volume Highlights
Issue Index Shares
Traded		 Notes
TRP.PR.K FixedReset Prem 373,350 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.15
Bid-YTW : 2.69 %
BAM.PF.A FixedReset Prem 91,625 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 24.19
Evaluated at bid price : 24.52
Bid-YTW : 4.76 %
BMO.PR.C FixedReset Prem 42,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-25
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 3.91 %
RY.PR.S FixedReset Prem 33,120 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 23.61
Evaluated at bid price : 25.05
Bid-YTW : 4.04 %
BAM.PF.I FixedReset Prem 31,800 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.29
Bid-YTW : 3.73 %
BMO.PR.D FixedReset Prem 31,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-08-25
Maturity Price : 25.00
Evaluated at bid price : 25.04
Bid-YTW : 4.27 %
There were 17 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
RY.PR.M FixedReset Disc Quote: 15.06 – 23.95
Spot Rate : 8.8900
Average : 5.9999

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 15.06
Evaluated at bid price : 15.06
Bid-YTW : 6.68 %
CM.PR.Q FixedReset Disc Quote: 19.70 – 24.46
Spot Rate : 4.7600
Average : 2.6496

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.37 %
BAM.PR.T FixedReset Disc Quote: 18.00 – 21.50
Spot Rate : 3.5000
Average : 2.0553

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 5.63 %
MFC.PR.K FixedReset Ins Non Quote: 23.40 – 24.99
Spot Rate : 1.5900
Average : 0.9775

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 22.98
Evaluated at bid price : 23.40
Bid-YTW : 4.18 %
BAM.PF.H FixedReset Prem Quote: 26.00 – 27.05
Spot Rate : 1.0500
Average : 0.6188

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 26.00
Bid-YTW : 4.12 %
TRP.PR.G FixedReset Disc Quote: 12.29 – 23.80
Spot Rate : 11.5100
Average : 11.1264

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-02
Maturity Price : 12.29
Evaluated at bid price : 12.29
Bid-YTW : 8.75 %
Market Action

March 1, 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 3.17 % 3.73 % 39,909 19.82 1 -2.0305 % 2,749.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -4.0064 % 5,223.7
Floater 3.05 % 3.07 % 59,012 19.50 3 -4.0064 % 3,010.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0131 % 3,642.5
SplitShare 4.65 % 4.24 % 31,276 3.62 6 -0.0131 % 4,349.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0131 % 3,394.0
Perpetual-Premium 5.26 % 3.74 % 62,984 0.50 21 0.1194 % 3,205.8
Perpetual-Discount 4.95 % 5.02 % 63,749 15.40 11 -0.4511 % 3,722.6
FixedReset Disc 4.10 % 4.36 % 120,229 16.54 43 0.2294 % 2,724.7
Insurance Straight 5.04 % 4.91 % 90,644 15.39 18 -0.4504 % 3,560.9
FloatingReset 3.20 % 3.32 % 49,060 18.98 2 -9.8269 % 2,621.7
FixedReset Prem 4.78 % 4.17 % 126,994 2.26 26 -0.0287 % 2,701.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2294 % 2,785.2
FixedReset Ins Non 4.25 % 4.31 % 82,073 16.62 17 -1.6217 % 2,857.6
Performance Highlights
Issue Index Change Notes
SLF.PR.J FloatingReset -16.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 3.02 %
MFC.PR.M FixedReset Ins Non -6.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.24
Evaluated at bid price : 21.52
Bid-YTW : 4.63 %
BAM.PR.B Floater -4.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 13.90
Evaluated at bid price : 13.90
Bid-YTW : 3.11 %
BAM.PR.C Floater -4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 14.16
Evaluated at bid price : 14.16
Bid-YTW : 3.05 %
MFC.PR.F FixedReset Ins Non -4.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 4.26 %
PWF.PF.A Perpetual-Discount -3.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.72
Evaluated at bid price : 23.12
Bid-YTW : 4.89 %
BAM.PR.K Floater -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 14.11
Evaluated at bid price : 14.11
Bid-YTW : 3.07 %
MFC.PR.N FixedReset Ins Non -3.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.86
Evaluated at bid price : 22.15
Bid-YTW : 4.42 %
MFC.PR.L FixedReset Ins Non -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.34
Evaluated at bid price : 21.65
Bid-YTW : 4.40 %
BAM.PR.T FixedReset Disc -2.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 4.80 %
NA.PR.W FixedReset Disc -2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.11
Evaluated at bid price : 22.49
Bid-YTW : 4.35 %
MFC.PR.K FixedReset Ins Non -2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.98
Evaluated at bid price : 23.40
Bid-YTW : 4.18 %
BAM.PF.B FixedReset Disc -2.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.34
Evaluated at bid price : 22.63
Bid-YTW : 4.83 %
BAM.PR.E Ratchet -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 25.00
Evaluated at bid price : 19.30
Bid-YTW : 3.73 %
IFC.PR.C FixedReset Disc -1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.62
Evaluated at bid price : 23.60
Bid-YTW : 4.36 %
CM.PR.O FixedReset Disc -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.18
Evaluated at bid price : 22.50
Bid-YTW : 4.41 %
BMO.PR.W FixedReset Disc -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.17
Evaluated at bid price : 22.54
Bid-YTW : 4.31 %
BAM.PR.X FixedReset Disc -1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 17.95
Evaluated at bid price : 17.95
Bid-YTW : 4.89 %
TRP.PR.D FixedReset Disc -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 20.08
Evaluated at bid price : 20.08
Bid-YTW : 5.08 %
TRP.PR.B FixedReset Disc -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 13.33
Evaluated at bid price : 13.33
Bid-YTW : 5.11 %
TRP.PR.F FloatingReset -1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 3.32 %
MFC.PR.Q FixedReset Ins Non -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 24.17
Evaluated at bid price : 24.55
Bid-YTW : 4.31 %
TRP.PR.E FixedReset Disc -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.03 %
SLF.PR.C Insurance Straight -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 23.00
Evaluated at bid price : 23.27
Bid-YTW : 4.77 %
CM.PR.Q FixedReset Disc -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.92
Evaluated at bid price : 24.00
Bid-YTW : 4.35 %
BAM.PF.E FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.09
Evaluated at bid price : 21.09
Bid-YTW : 4.95 %
CIU.PR.A Perpetual-Discount -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.47
Evaluated at bid price : 22.73
Bid-YTW : 5.07 %
BAM.PF.A FixedReset Prem -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 24.17
Evaluated at bid price : 24.50
Bid-YTW : 4.77 %
IAF.PR.B Insurance Straight -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 23.42
Evaluated at bid price : 23.71
Bid-YTW : 4.91 %
IFC.PR.G FixedReset Ins Non -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 24.18
Evaluated at bid price : 24.55
Bid-YTW : 4.39 %
IAF.PR.G FixedReset Ins Non -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 23.74
Evaluated at bid price : 24.56
Bid-YTW : 4.61 %
GWO.PR.N FixedReset Ins Non -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 4.17 %
MFC.PR.J FixedReset Ins Non -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 24.17
Evaluated at bid price : 24.60
Bid-YTW : 4.35 %
FTS.PR.M FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.59
Evaluated at bid price : 22.00
Bid-YTW : 4.67 %
FTS.PR.G FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.34
Evaluated at bid price : 21.34
Bid-YTW : 4.53 %
BIP.PR.A FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.55
Evaluated at bid price : 23.25
Bid-YTW : 5.34 %
TD.PF.B FixedReset Disc -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.38
Evaluated at bid price : 22.80
Bid-YTW : 4.30 %
PWF.PR.T FixedReset Disc -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.90
Evaluated at bid price : 23.25
Bid-YTW : 4.38 %
SLF.PR.E Insurance Straight -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 23.16
Evaluated at bid price : 23.42
Bid-YTW : 4.79 %
MFC.PR.I FixedReset Ins Non -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 23.90
Evaluated at bid price : 24.55
Bid-YTW : 4.58 %
GWO.PR.Y Insurance Straight 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 23.94
Evaluated at bid price : 24.30
Bid-YTW : 4.68 %
BAM.PF.G FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.46
Evaluated at bid price : 21.81
Bid-YTW : 4.95 %
SLF.PR.H FixedReset Ins Non 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 4.29 %
BIP.PR.B FixedReset Prem 2.36 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 26.00
Bid-YTW : 4.25 %
RY.PR.M FixedReset Disc 57.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.72
Evaluated at bid price : 23.65
Bid-YTW : 4.24 %
Volume Highlights
Issue Index Shares
Traded		 Notes
CM.PR.R FixedReset Prem 64,262 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.10
Bid-YTW : 4.43 %
TRP.PR.K FixedReset Prem 59,891 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.01
Bid-YTW : 4.95 %
MFC.PR.R FixedReset Ins Non 38,938 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-04-18
Maturity Price : 25.00
Evaluated at bid price : 24.97
Bid-YTW : 3.98 %
TRP.PR.A FixedReset Disc 33,741 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 4.96 %
BMO.PR.F FixedReset Prem 32,970 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-05-25
Maturity Price : 25.00
Evaluated at bid price : 26.20
Bid-YTW : 2.91 %
BIP.PR.F FixedReset Prem 27,354 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2023-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.18
Bid-YTW : 4.47 %
There were 36 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
SLF.PR.J FloatingReset Quote: 14.90 – 18.05
Spot Rate : 3.1500
Average : 1.7158

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 14.90
Evaluated at bid price : 14.90
Bid-YTW : 3.02 %
PWF.PF.A Perpetual-Discount Quote: 23.12 – 24.50
Spot Rate : 1.3800
Average : 0.9567

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 22.72
Evaluated at bid price : 23.12
Bid-YTW : 4.89 %
BAM.PR.B Floater Quote: 13.90 – 15.10
Spot Rate : 1.2000
Average : 0.8310

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 13.90
Evaluated at bid price : 13.90
Bid-YTW : 3.11 %
TRP.PR.G FixedReset Disc Quote: 12.29 – 23.35
Spot Rate : 11.0600
Average : 10.7058

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 12.29
Evaluated at bid price : 12.29
Bid-YTW : 8.75 %
MFC.PR.M FixedReset Ins Non Quote: 21.52 – 23.00
Spot Rate : 1.4800
Average : 1.1361

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 21.24
Evaluated at bid price : 21.52
Bid-YTW : 4.63 %
CU.PR.G Perpetual-Discount Quote: 23.40 – 24.88
Spot Rate : 1.4800
Average : 1.1458

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-03-01
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 4.82 %