Archive for the ‘Market Action’ Category

June 28, 2022

Tuesday, June 28th, 2022
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -0.9446 % 2,484.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.9446 % 4,764.9
Floater 5.01 % 5.01 % 45,701 15.49 3 -0.9446 % 2,746.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.1655 % 3,463.8
SplitShare 4.91 % 5.64 % 45,136 3.15 8 0.1655 % 4,136.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1655 % 3,227.4
Perpetual-Premium 6.08 % 6.19 % 78,067 13.52 2 -0.3726 % 2,844.8
Perpetual-Discount 6.01 % 6.11 % 63,547 13.73 34 -0.3312 % 3,089.7
FixedReset Disc 4.67 % 6.48 % 117,811 13.44 57 -0.1192 % 2,498.2
Insurance Straight 6.06 % 6.10 % 91,642 13.77 19 -1.0029 % 2,968.0
FloatingReset 5.86 % 6.17 % 46,884 13.65 2 -0.4328 % 2,614.3
FixedReset Prem 5.07 % 4.87 % 137,622 1.98 9 0.1849 % 2,602.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1192 % 2,553.7
FixedReset Ins Non 4.59 % 6.40 % 70,171 13.53 15 0.5552 % 2,613.9
Performance Highlights
Issue Index Change Notes
IFC.PR.K Perpetual-Discount -4.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 21.31
Evaluated at bid price : 21.31
Bid-YTW : 6.20 %
GWO.PR.R Insurance Straight -3.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.35 %
RY.PR.J FixedReset Disc -3.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 20.69
Evaluated at bid price : 20.69
Bid-YTW : 6.68 %
RY.PR.O Perpetual-Discount -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 22.75
Evaluated at bid price : 23.00
Bid-YTW : 5.38 %
IFC.PR.F Insurance Straight -2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 21.61
Evaluated at bid price : 21.91
Bid-YTW : 6.07 %
GWO.PR.M Insurance Straight -2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 22.82
Evaluated at bid price : 23.10
Bid-YTW : 6.31 %
BAM.PR.X FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 7.40 %
RY.PR.Z FixedReset Disc -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.48 %
SLF.PR.C Insurance Straight -1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 18.84
Evaluated at bid price : 18.84
Bid-YTW : 5.95 %
SLF.PR.E Insurance Straight -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.93 %
GWO.PR.Y Insurance Straight -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 6.26 %
SLF.PR.D Insurance Straight -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 5.93 %
POW.PR.D Perpetual-Discount -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.12 %
GWO.PR.L Insurance Straight -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 6.25 %
BAM.PR.K Floater -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 12.84
Evaluated at bid price : 12.84
Bid-YTW : 5.05 %
IFC.PR.E Insurance Straight -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 21.72
Evaluated at bid price : 22.05
Bid-YTW : 5.92 %
MFC.PR.M FixedReset Ins Non -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 7.04 %
BIP.PR.A FixedReset Disc -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 7.67 %
POW.PR.A Perpetual-Discount -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 22.72
Evaluated at bid price : 23.01
Bid-YTW : 6.09 %
CU.PR.J Perpetual-Discount -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.11 %
FTS.PR.G FixedReset Disc -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.78 %
PVS.PR.K SplitShare 1.04 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 23.42
Bid-YTW : 5.64 %
NA.PR.S FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.51 %
CM.PR.Q FixedReset Disc 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 21.28
Evaluated at bid price : 21.28
Bid-YTW : 6.40 %
BAM.PF.C Perpetual-Discount 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.15 %
RY.PR.N Perpetual-Discount 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 23.01
Evaluated at bid price : 23.41
Bid-YTW : 5.28 %
MFC.PR.J FixedReset Ins Non 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 22.67
Evaluated at bid price : 23.30
Bid-YTW : 6.26 %
BAM.PF.D Perpetual-Discount 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 20.06
Evaluated at bid price : 20.06
Bid-YTW : 6.15 %
IFC.PR.A FixedReset Ins Non 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 19.44
Evaluated at bid price : 19.44
Bid-YTW : 6.35 %
MFC.PR.N FixedReset Ins Non 2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 6.98 %
MFC.PR.K FixedReset Ins Non 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.40 %
Volume Highlights
Issue Index Shares
Traded
Notes
CM.PR.R FixedReset Disc 249,950 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 24.94
Bid-YTW : 3.08 %
FTS.PR.H FixedReset Disc 200,005 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 7.11 %
PWF.PR.P FixedReset Disc 200,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 14.25
Evaluated at bid price : 14.25
Bid-YTW : 7.31 %
CU.PR.I FixedReset Prem 150,600 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 4.37 %
TRP.PR.C FixedReset Disc 102,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 7.66 %
BAM.PF.I FixedReset Prem 69,825 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-03-31
Maturity Price : 25.00
Evaluated at bid price : 26.14
Bid-YTW : 4.34 %
There were 19 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: 15.81 – 25.00
Spot Rate : 9.1900
Average : 5.1755

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 15.81
Evaluated at bid price : 15.81
Bid-YTW : 5.58 %

MFC.PR.L FixedReset Ins Non Quote: 18.75 – 24.35
Spot Rate : 5.6000
Average : 4.5078

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.99 %

TRP.PR.C FixedReset Disc Quote: 13.51 – 17.00
Spot Rate : 3.4900
Average : 2.7509

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 13.51
Evaluated at bid price : 13.51
Bid-YTW : 7.66 %

PWF.PR.H Perpetual-Discount Quote: 23.70 – 25.18
Spot Rate : 1.4800
Average : 0.8657

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 6.17 %

POW.PR.A Perpetual-Discount Quote: 23.01 – 24.29
Spot Rate : 1.2800
Average : 0.7277

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 22.72
Evaluated at bid price : 23.01
Bid-YTW : 6.09 %

BMO.PR.W FixedReset Disc Quote: 20.25 – 22.35
Spot Rate : 2.1000
Average : 1.5544

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-28
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.52 %

June 27, 2022

Monday, June 27th, 2022
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -0.3054 % 2,508.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3054 % 4,810.3
Floater 4.96 % 4.97 % 47,650 15.55 3 -0.3054 % 2,772.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.2280 % 3,458.0
SplitShare 4.92 % 5.82 % 45,590 3.15 8 0.2280 % 4,129.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2280 % 3,222.1
Perpetual-Premium 6.05 % 6.17 % 81,036 13.55 2 -0.4943 % 2,855.4
Perpetual-Discount 5.99 % 6.08 % 65,554 13.71 34 -0.1715 % 3,100.0
FixedReset Disc 4.67 % 6.47 % 119,500 13.45 57 -0.0380 % 2,501.2
Insurance Straight 6.00 % 6.12 % 93,227 13.77 19 -0.1779 % 2,998.0
FloatingReset 5.83 % 6.11 % 48,509 13.74 2 0.9046 % 2,625.7
FixedReset Prem 5.08 % 4.93 % 136,536 1.98 9 -0.0748 % 2,598.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.0380 % 2,556.7
FixedReset Ins Non 4.62 % 6.45 % 70,688 13.39 15 -1.1538 % 2,599.5
Performance Highlights
Issue Index Change Notes
MFC.PR.N FixedReset Ins Non -6.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 18.44
Evaluated at bid price : 18.44
Bid-YTW : 7.12 %
IFC.PR.C FixedReset Disc -5.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 7.29 %
MFC.PR.J FixedReset Ins Non -2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 22.22
Evaluated at bid price : 22.95
Bid-YTW : 6.35 %
MFC.PR.M FixedReset Ins Non -2.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 19.28
Evaluated at bid price : 19.28
Bid-YTW : 6.95 %
BMO.PR.W FixedReset Disc -2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.52 %
RY.PR.S FixedReset Disc -2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 23.10
Evaluated at bid price : 23.50
Bid-YTW : 5.95 %
RY.PR.N Perpetual-Discount -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 22.81
Evaluated at bid price : 23.06
Bid-YTW : 5.37 %
BIP.PR.F FixedReset Disc -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 22.70
Evaluated at bid price : 23.12
Bid-YTW : 6.56 %
CU.PR.H Perpetual-Discount -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.70
Evaluated at bid price : 21.70
Bid-YTW : 6.12 %
IFC.PR.A FixedReset Ins Non -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 6.45 %
BAM.PF.E FixedReset Disc -1.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.29 %
MFC.PR.K FixedReset Ins Non -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.55 %
MFC.PR.L FixedReset Ins Non -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 18.73
Evaluated at bid price : 18.73
Bid-YTW : 7.00 %
IAF.PR.I FixedReset Ins Non -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 23.37
Evaluated at bid price : 24.00
Bid-YTW : 6.18 %
PVS.PR.K SplitShare -1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 23.18
Bid-YTW : 5.82 %
NA.PR.S FixedReset Disc -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 6.58 %
ELF.PR.H Perpetual-Discount -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 6.03 %
TD.PF.D FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.44
Evaluated at bid price : 21.44
Bid-YTW : 6.43 %
GWO.PR.P Insurance Straight -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.81
Evaluated at bid price : 22.05
Bid-YTW : 6.15 %
IFC.PR.E Insurance Straight -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 22.07
Evaluated at bid price : 22.35
Bid-YTW : 5.84 %
PWF.PR.L Perpetual-Discount -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.25 %
CU.PR.J Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.04 %
PWF.PR.P FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 14.30
Evaluated at bid price : 14.30
Bid-YTW : 7.29 %
CCS.PR.C Insurance Straight 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.91 %
BAM.PF.G FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 7.32 %
BMO.PR.S FixedReset Disc 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.32 %
TRP.PR.F FloatingReset 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 16.55
Evaluated at bid price : 16.55
Bid-YTW : 6.11 %
CM.PR.Y FixedReset Prem 1.53 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.10
Bid-YTW : 4.75 %
CU.PR.G Perpetual-Discount 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 5.98 %
TRP.PR.D FixedReset Disc 2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.32 %
PVS.PR.J SplitShare 2.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 23.12
Bid-YTW : 6.07 %
CM.PR.O FixedReset Disc 2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 6.27 %
IFC.PR.G FixedReset Ins Non 2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.88
Evaluated at bid price : 22.40
Bid-YTW : 6.43 %
BAM.PR.X FixedReset Disc 2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 7.25 %
RY.PR.M FixedReset Disc 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.41 %
RY.PR.H FixedReset Disc 4.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.27 %
Volume Highlights
Issue Index Shares
Traded
Notes
CM.PR.R FixedReset Disc 246,701 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 24.93
Bid-YTW : 3.43 %
PWF.PR.H Perpetual-Discount 130,812 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 6.17 %
BMO.PR.T FixedReset Disc 121,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.41 %
CM.PR.O FixedReset Disc 108,925 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 6.27 %
PWF.PR.S Perpetual-Discount 74,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.16 %
PWF.PR.O Perpetual-Discount 68,760 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 23.48
Evaluated at bid price : 23.75
Bid-YTW : 6.21 %
There were 13 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MFC.PR.L FixedReset Ins Non Quote: 18.73 – 24.35
Spot Rate : 5.6200
Average : 3.3104

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 18.73
Evaluated at bid price : 18.73
Bid-YTW : 7.00 %

TRP.PR.C FixedReset Disc Quote: 13.55 – 17.00
Spot Rate : 3.4500
Average : 1.9405

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 13.55
Evaluated at bid price : 13.55
Bid-YTW : 7.64 %

IFC.PR.G FixedReset Ins Non Quote: 22.40 – 24.85
Spot Rate : 2.4500
Average : 1.6669

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 21.88
Evaluated at bid price : 22.40
Bid-YTW : 6.43 %

CU.PR.J Perpetual-Discount Quote: 19.90 – 21.99
Spot Rate : 2.0900
Average : 1.3155

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.04 %

BAM.PF.B FixedReset Disc Quote: 20.00 – 22.54
Spot Rate : 2.5400
Average : 1.7975

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 7.15 %

BAM.PR.T FixedReset Disc Quote: 17.46 – 20.00
Spot Rate : 2.5400
Average : 1.8869

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-27
Maturity Price : 17.46
Evaluated at bid price : 17.46
Bid-YTW : 7.21 %

June 24, 2022

Friday, June 24th, 2022

TXPR closed at 619.18, up 1.53% on the day. Volume today was 781,400, second-lowest of the past 21 trading days.

CPD closed at 12.24, unchanged on the day. Volume was 125,610, third-highest of the past 21 trading days.

ZPR closed at 10.30 up 0.78% on the day. Volume of 142,060 was third-lowest of the past 21 trading days.

Five-year Canada yields were up a bit to 3.24% today.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.5116 % 2,515.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.5116 % 4,825.0
Floater 4.94 % 4.95 % 49,665 15.60 3 0.5116 % 2,780.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.3458 % 3,450.2
SplitShare 4.93 % 5.57 % 44,993 3.16 8 0.3458 % 4,120.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.3458 % 3,214.8
Perpetual-Premium 6.02 % 6.11 % 77,414 13.65 2 0.5176 % 2,869.6
Perpetual-Discount 5.98 % 6.07 % 66,443 13.77 34 0.9200 % 3,105.3
FixedReset Disc 4.66 % 6.40 % 119,220 13.53 57 0.7459 % 2,502.2
Insurance Straight 5.99 % 6.08 % 91,904 13.82 19 0.4671 % 3,003.4
FloatingReset 5.89 % 6.20 % 48,873 13.62 2 0.7859 % 2,602.2
FixedReset Prem 5.07 % 5.34 % 138,727 1.97 9 0.2779 % 2,600.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.7459 % 2,557.7
FixedReset Ins Non 4.56 % 6.38 % 73,601 13.64 15 0.7494 % 2,629.8
Performance Highlights
Issue Index Change Notes
GWO.PR.M Insurance Straight -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 23.39
Evaluated at bid price : 23.68
Bid-YTW : 6.15 %
BAM.PR.X FixedReset Disc -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 17.01
Evaluated at bid price : 17.01
Bid-YTW : 7.38 %
IFC.PR.K Perpetual-Discount -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.75
Evaluated at bid price : 22.05
Bid-YTW : 5.97 %
BIP.PR.B FixedReset Prem 1.01 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 5.51 %
SLF.PR.E Insurance Straight 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.83 %
BNS.PR.I FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 23.61
Evaluated at bid price : 24.00
Bid-YTW : 5.86 %
TD.PF.A FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.93
Evaluated at bid price : 20.93
Bid-YTW : 6.24 %
RY.PR.N Perpetual-Discount 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 23.08
Evaluated at bid price : 23.51
Bid-YTW : 5.25 %
PWF.PR.L Perpetual-Discount 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.03
Evaluated at bid price : 21.03
Bid-YTW : 6.18 %
IFC.PR.E Insurance Straight 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 22.25
Evaluated at bid price : 22.60
Bid-YTW : 5.77 %
PWF.PR.K Perpetual-Discount 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.20 %
TD.PF.M FixedReset Prem 1.17 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.09
Bid-YTW : 5.34 %
CU.PR.G Perpetual-Discount 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.07 %
IFC.PR.I Perpetual-Discount 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 22.38
Evaluated at bid price : 22.77
Bid-YTW : 5.94 %
GWO.PR.Q Insurance Straight 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.16 %
TD.PF.D FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.37
Evaluated at bid price : 21.69
Bid-YTW : 6.30 %
PWF.PR.F Perpetual-Discount 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.34
Evaluated at bid price : 21.61
Bid-YTW : 6.17 %
PWF.PF.A Perpetual-Discount 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 6.18 %
GWO.PR.Y Insurance Straight 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 6.09 %
BAM.PR.M Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.07 %
TRP.PR.F FloatingReset 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 16.31
Evaluated at bid price : 16.31
Bid-YTW : 6.20 %
FTS.PR.G FixedReset Disc 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.07
Evaluated at bid price : 20.07
Bid-YTW : 6.63 %
IFC.PR.A FixedReset Ins Non 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 6.28 %
RY.PR.S FixedReset Disc 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 23.62
Evaluated at bid price : 24.00
Bid-YTW : 5.78 %
TRP.PR.C FixedReset Disc 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 13.49
Evaluated at bid price : 13.49
Bid-YTW : 7.60 %
POW.PR.G Perpetual-Discount 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 23.15
Evaluated at bid price : 23.45
Bid-YTW : 5.97 %
CU.PR.D Perpetual-Discount 2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.09 %
PWF.PR.T FixedReset Disc 2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.63 %
MFC.PR.M FixedReset Ins Non 2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.84
Evaluated at bid price : 19.84
Bid-YTW : 6.70 %
BAM.PF.E FixedReset Disc 2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 18.77
Evaluated at bid price : 18.77
Bid-YTW : 7.11 %
GWO.PR.S Insurance Straight 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.14 %
GWO.PR.N FixedReset Ins Non 2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 13.75
Evaluated at bid price : 13.75
Bid-YTW : 6.98 %
CU.PR.F Perpetual-Discount 2.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.96 %
FTS.PR.M FixedReset Disc 2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.75 %
PVS.PR.K SplitShare 3.07 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 5.57 %
CU.PR.C FixedReset Disc 3.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.50
Evaluated at bid price : 21.80
Bid-YTW : 6.34 %
CU.PR.H Perpetual-Discount 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 22.09
Evaluated at bid price : 22.09
Bid-YTW : 6.01 %
TRP.PR.A FixedReset Disc 3.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 7.55 %
IFC.PR.C FixedReset Disc 3.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.88 %
BAM.PR.T FixedReset Disc 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 17.59
Evaluated at bid price : 17.59
Bid-YTW : 7.11 %
MFC.PR.N FixedReset Ins Non 4.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.66
Evaluated at bid price : 19.66
Bid-YTW : 6.64 %
TRP.PR.E FixedReset Disc 7.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 18.26
Evaluated at bid price : 18.26
Bid-YTW : 7.32 %
MIC.PR.A Perpetual-Discount 9.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.30
Evaluated at bid price : 21.60
Bid-YTW : 6.27 %
Volume Highlights
Issue Index Shares
Traded
Notes
BMO.PR.T FixedReset Disc 34,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.36 %
CM.PR.S FixedReset Disc 30,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 22.36
Evaluated at bid price : 23.21
Bid-YTW : 6.08 %
PWF.PR.S Perpetual-Discount 29,030 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.14 %
CM.PR.R FixedReset Disc 26,100 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 3.32 %
PWF.PR.O Perpetual-Discount 22,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 6.19 %
CU.PR.I FixedReset Prem 21,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 25.10
Bid-YTW : 4.48 %
There were 10 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: 22.60 – 23.98
Spot Rate : 1.3800
Average : 0.9558

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 22.25
Evaluated at bid price : 22.60
Bid-YTW : 5.77 %

CM.PR.O FixedReset Disc Quote: 20.95 – 22.00
Spot Rate : 1.0500
Average : 0.7119

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.36 %

BAM.PR.X FixedReset Disc Quote: 17.01 – 18.00
Spot Rate : 0.9900
Average : 0.7710

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 17.01
Evaluated at bid price : 17.01
Bid-YTW : 7.38 %

TRP.PR.B FixedReset Disc Quote: 12.81 – 14.29
Spot Rate : 1.4800
Average : 1.2721

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 12.81
Evaluated at bid price : 12.81
Bid-YTW : 7.64 %

IFC.PR.G FixedReset Ins Non Quote: 21.90 – 22.90
Spot Rate : 1.0000
Average : 0.8082

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 21.54
Evaluated at bid price : 21.90
Bid-YTW : 6.52 %

BAM.PR.N Perpetual-Discount Quote: 19.21 – 19.83
Spot Rate : 0.6200
Average : 0.4337

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-24
Maturity Price : 19.21
Evaluated at bid price : 19.21
Bid-YTW : 6.22 %

June 23, 2022

Thursday, June 23rd, 2022

TXPR closed at 609.84, down 0.70% on the day. Volume today was 2.58-million, third-highest of the past 21 trading days.

CPD closed at 12.24, down 0.08% on the day. Volume was 87,630, above the median of the past 21 trading days.

ZPR closed at 10.22 down 0.58% on the day. Volume of 211,150 was below the median of the past 21 trading days.

Five-year Canada yields were down sharply to 3.21% today; the volatility is amazing:

U.S. Treasury yields fell to their lowest levels in almost two weeks on Thursday, as data from the euro area stoked worries about a sharp slowdown in the global economy.

Euro zone business growth has slowed significantly this month – and by much more than expected – as consumers concerned about soaring bills opted to stay at home and defer purchases to save money, a survey showed on Thursday.

In London trade, the 10-year Treasury yield fell to 3.087 % , its lowest level in almost two weeks. It was down 6 bps on the day and followed sharp falls in bond yields across the euro area.

S&P Global’s flash euro zone Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic health, slumped to 51.9 in June from 54.8 in May, far below the 54.0 predicted in a Reuters poll.

Since hitting its highest since 2011 early last week, the benchmark 10-year Treasury yield has tumbled around 40 bps, highlighting investor uncertainty in the wake of aggressive monetary tightening from the Federal Reserve

There’s a lot of weeping and wailing about how abnormally high interests rates are right now:

Rising rates could bake higher expenses into family finances for years. With a fixed-rate mortgage, you are locking in today’s higher payments in for whatever term you choose. From that perspective, the familiar old five-year fixed rate mortgage doesn’t look great.

Higher mortgage costs also make houses less affordable to buy, which is itself a retirement problem. In no way does a home guarantee a financially secure retirement. But if you do own one, you have a valuable asset to sell in order to free up money for retirement costs like care provided through in-home services or nursing homes.

A return to normal inflation levels and an interest rate reversal would help avert this crisis, but we have a broader affordability problem to contend with in the form of lifestyle inflation.

I don’t get it. I don’t see anything abnormal at all about GOC-5 yields in the 3.00%-3.50% range when inflation is at 2% (or at least is projected to be there, according to the Canada Break-Even Inflation Rate). What I think is abnormal is fourteen years of ridiculously low yields, negative real yields, even negative NOMINAL yields, for heavens sake. Hell, it used to be that a negative yield on US Treasury Bills was breathlessly mentioned in textbooks as a gross aberation that only existed fleetingly due to special conditions in the Great Depression. And after reading this factoid, you checked it with a puzzled frown. Now, not so much.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.1024 % 2,502.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1024 % 4,800.5
Floater 4.97 % 4.98 % 50,100 15.55 3 0.1024 % 2,766.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.5919 % 3,438.3
SplitShare 4.95 % 6.04 % 43,939 3.16 8 -0.5919 % 4,106.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.5919 % 3,203.7
Perpetual-Premium 6.06 % 6.14 % 78,594 13.60 2 -0.6173 % 2,854.8
Perpetual-Discount 6.03 % 6.15 % 66,956 13.68 34 -0.4489 % 3,077.0
FixedReset Disc 4.70 % 6.41 % 121,105 13.48 57 -0.5125 % 2,483.6
Insurance Straight 6.02 % 6.07 % 87,547 13.82 19 0.3741 % 2,989.4
FloatingReset 5.93 % 6.30 % 50,870 13.48 2 -2.8702 % 2,581.9
FixedReset Prem 5.09 % 5.57 % 135,830 1.97 9 0.0485 % 2,592.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.5125 % 2,538.8
FixedReset Ins Non 4.60 % 6.39 % 76,328 13.60 15 -1.4767 % 2,610.2
Performance Highlights
Issue Index Change Notes
IFC.PR.C FixedReset Disc -10.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 7.10 %
MIC.PR.A Perpetual-Discount -8.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.88 %
TRP.PR.E FixedReset Disc -7.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.86 %
GWO.PR.N FixedReset Ins Non -4.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 13.40
Evaluated at bid price : 13.40
Bid-YTW : 7.15 %
MFC.PR.N FixedReset Ins Non -4.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.79
Evaluated at bid price : 18.79
Bid-YTW : 6.93 %
PWF.PR.P FixedReset Disc -4.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 14.12
Evaluated at bid price : 14.12
Bid-YTW : 7.31 %
TRP.PR.F FloatingReset -3.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 16.06
Evaluated at bid price : 16.06
Bid-YTW : 6.30 %
TRP.PR.A FixedReset Disc -3.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 7.79 %
MFC.PR.M FixedReset Ins Non -3.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.85 %
CU.PR.G Perpetual-Discount -2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.53
Evaluated at bid price : 18.53
Bid-YTW : 6.14 %
MFC.PR.F FixedReset Ins Non -2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 14.77
Evaluated at bid price : 14.77
Bid-YTW : 6.87 %
RY.PR.M FixedReset Disc -2.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.07
Evaluated at bid price : 20.07
Bid-YTW : 6.55 %
PWF.PF.A Perpetual-Discount -2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 6.26 %
SLF.PR.J FloatingReset -2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 5.60 %
IFC.PR.A FixedReset Ins Non -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.13
Evaluated at bid price : 19.13
Bid-YTW : 6.38 %
MFC.PR.L FixedReset Ins Non -2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 6.89 %
BIP.PR.F FixedReset Disc -2.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 23.11
Evaluated at bid price : 23.54
Bid-YTW : 6.39 %
RY.PR.H FixedReset Disc -2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.46 %
CU.PR.H Perpetual-Discount -2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.21 %
BAM.PR.T FixedReset Disc -2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 16.93
Evaluated at bid price : 16.93
Bid-YTW : 7.37 %
MFC.PR.K FixedReset Ins Non -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.07
Evaluated at bid price : 21.07
Bid-YTW : 6.39 %
BIP.PR.A FixedReset Disc -1.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 7.58 %
GWO.PR.S Insurance Straight -1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.29 %
RY.PR.N Perpetual-Discount -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 22.91
Evaluated at bid price : 23.26
Bid-YTW : 5.31 %
CU.PR.C FixedReset Disc -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.55 %
PVS.PR.K SplitShare -1.51 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 22.80
Bid-YTW : 6.09 %
TRP.PR.D FixedReset Disc -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.46 %
BIP.PR.E FixedReset Disc -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 22.57
Evaluated at bid price : 23.17
Bid-YTW : 6.62 %
CU.PR.D Perpetual-Discount -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.93
Evaluated at bid price : 19.93
Bid-YTW : 6.22 %
BAM.PF.G FixedReset Disc -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.30 %
PVS.PR.G SplitShare -1.23 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 24.10
Bid-YTW : 6.11 %
BAM.PR.R FixedReset Disc -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 16.94
Evaluated at bid price : 16.94
Bid-YTW : 7.26 %
SLF.PR.H FixedReset Ins Non -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 6.79 %
POW.PR.G Perpetual-Discount -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 22.71
Evaluated at bid price : 23.00
Bid-YTW : 6.09 %
FTS.PR.M FixedReset Disc -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 6.94 %
TRP.PR.C FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 13.26
Evaluated at bid price : 13.26
Bid-YTW : 7.72 %
IFC.PR.G FixedReset Ins Non -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.68
Evaluated at bid price : 22.10
Bid-YTW : 6.46 %
BIP.PR.B FixedReset Prem -1.00 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 24.75
Bid-YTW : 5.82 %
BAM.PF.D Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.21 %
GWO.PR.M Insurance Straight 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 6.06 %
BAM.PR.Z FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 23.00
Evaluated at bid price : 23.75
Bid-YTW : 6.42 %
CCS.PR.C Insurance Straight 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.02
Evaluated at bid price : 21.02
Bid-YTW : 5.98 %
GWO.PR.Y Insurance Straight 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.32
Evaluated at bid price : 18.32
Bid-YTW : 6.18 %
RY.PR.Z FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.34 %
GWO.PR.R Insurance Straight 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 6.16 %
POW.PR.A Perpetual-Discount 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 23.06
Evaluated at bid price : 23.32
Bid-YTW : 6.01 %
POW.PR.D Perpetual-Discount 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.97 %
MFC.PR.B Insurance Straight 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 5.93 %
CM.PR.O FixedReset Disc 2.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.33 %
BMO.PR.T FixedReset Disc 2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.71
Evaluated at bid price : 20.71
Bid-YTW : 6.34 %
Volume Highlights
Issue Index Shares
Traded
Notes
CM.PR.R FixedReset Disc 810,300 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 3.23 %
BMO.PR.T FixedReset Disc 103,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.71
Evaluated at bid price : 20.71
Bid-YTW : 6.34 %
TD.PF.A FixedReset Disc 81,575 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.71
Evaluated at bid price : 20.71
Bid-YTW : 6.31 %
BMO.PR.W FixedReset Disc 50,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.33 %
PWF.PF.A Perpetual-Discount 42,951 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 6.26 %
RY.PR.H FixedReset Disc 42,587 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.46 %
There were 25 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
MIC.PR.A Perpetual-Discount Quote: 19.75 – 22.83
Spot Rate : 3.0800
Average : 1.7463

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.88 %

BAM.PF.B FixedReset Disc Quote: 20.06 – 22.54
Spot Rate : 2.4800
Average : 1.5901

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 20.06
Evaluated at bid price : 20.06
Bid-YTW : 7.07 %

BAM.PR.T FixedReset Disc Quote: 16.93 – 20.05
Spot Rate : 3.1200
Average : 2.2684

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 16.93
Evaluated at bid price : 16.93
Bid-YTW : 7.37 %

IFC.PR.C FixedReset Disc Quote: 18.36 – 20.44
Spot Rate : 2.0800
Average : 1.3675

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 18.36
Evaluated at bid price : 18.36
Bid-YTW : 7.10 %

TRP.PR.E FixedReset Disc Quote: 17.00 – 19.50
Spot Rate : 2.5000
Average : 1.8099

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.86 %

RY.PR.J FixedReset Disc Quote: 21.50 – 23.10
Spot Rate : 1.6000
Average : 0.9593

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-23
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.39 %

June 22, 2022

Thursday, June 23rd, 2022

TXPR closed at 614.13, down 0.80% on the day. Volume today was 2.06-million, well above the median of the past 21 trading days.

CPD closed at 12.25, down 1.05% on the day. Volume was 50,219, well below the median of the past 21 trading days.

ZPR closed at 10.28 down 0.77% on the day. Volume of 149,563 was below the median of the past 21 trading days.

Five-year Canada yields were up to 3.33% today.

Sorry that this is late: I had other things to do last night.

So, how about that Canadian inflation, eh?:

The consumer price index (CPI) rose 7.7 per cent in May from a year earlier, rising from April’s 6.8-per-cent pace, Statistics Canada said on Wednesday. It was the highest inflation rate since 1983 and part of a broader surge in prices that’s taken hold in advanced economies.

The recent jump in energy prices, stoked by the Russia-Ukraine war, is having a tangible effect on the numbers. Gasoline prices rose 12 per cent in May alone and were up 48 per cent from a year earlier; the national average price for regular unleaded remains north of $2 a litre.

So there’s another crypto company in trouble:

TSX-listed Voyager Digital Ltd.’s VOYG-T stock lost half its value in a single day after management warned of a potential default on a US$655-million loan to a troubled hedge fund, as investors continue to fear financial contagion owing to the crypto sector’s recent crash.

Voyager, which went public in Canada in 2019, was historically known for its trading venue that allows retail and institutional investors to buy and sell cryptocurrencies. Lately, however, the company has expanded its operations, and one of its newer divisions offers loans to institutional borrowers. At the end of March, Voyager had lent $2-billion worth of crypto assets, according to its quarterly filings.

On Wednesday, Voyager disclosed that it has lent US$655-million to Three Arrows Capital, a hedge fund known for trading cryptocurrencies, in the form of 15,250 bitcoin and US$350-million worth of USDC, another cryptocurrency.

According to their latest financials (SEDAR Voyager Digital Ltd. May 16 2022 07:30:45 ET Interim financial statements/report – EnglishPDF 606 K) they have loaned $2-billion in crypto while holding $227-million collateral. Sounds like the sooner these guys go bankrupt, the better.

Westjet’s unique take on planning has given me an idea for a new business:

On Wednesday, WestJet’s vice-president of government relations, Andrew Gibbons, said the airline is “disappointed” that the new rule unfairly makes it the “sole provider of reimbursement” for delays it cannot control. He said the airline relies on government agencies, NAV Canada, Canada Border Services Agency and Canadian Air Transport Security Authority (CATSA) to provide a seamless experience for travelers. These are the agencies that are understaffed and blamed for much of the delays at airports, particularly Toronto Pearson.

My idea is to offer valet parking at municipal lots downtown during sports events and other times of high demand; I figure I should be able to sell at least 5,000 tickets on busy days. Customers will not, of course, be refunded if I cannot actually park the cars due to the small number of such spots actually available; capacity is the government’s problem and I rely on them to provide a seamless experience for my customers.

PerpetualDiscounts now yield 6.14%, equivalent to 7.98% interest at the standard equivalency factor of 1.3x. Long corporates now yield 5.37%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has narrow sharply to 260bp from the 285bp reported June 15.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -1.8351 % 2,500.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.8351 % 4,795.6
Floater 4.97 % 4.99 % 50,375 15.54 3 -1.8351 % 2,763.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.5015 % 3,458.8
SplitShare 4.92 % 5.72 % 40,706 3.17 8 -0.5015 % 4,130.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.5015 % 3,222.8
Perpetual-Premium 6.02 % 6.09 % 78,762 13.68 2 -1.1391 % 2,872.6
Perpetual-Discount 6.00 % 6.14 % 64,219 13.70 34 -0.8679 % 3,090.9
FixedReset Disc 4.67 % 6.66 % 114,383 13.26 57 -0.5711 % 2,496.4
Insurance Straight 6.04 % 6.13 % 84,548 13.74 19 -0.8536 % 2,978.3
FloatingReset 5.53 % 5.86 % 49,279 14.12 2 0.2756 % 2,658.2
FixedReset Prem 5.09 % 5.48 % 135,611 1.97 9 0.2655 % 2,591.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.5711 % 2,551.9
FixedReset Ins Non 4.53 % 6.51 % 76,173 13.35 15 -0.8589 % 2,649.4
Performance Highlights
Issue Index Change Notes
BIP.PR.A FixedReset Disc -2.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.89
Evaluated at bid price : 20.89
Bid-YTW : 7.65 %
TRP.PR.D FixedReset Disc -2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 18.57
Evaluated at bid price : 18.57
Bid-YTW : 7.62 %
MFC.PR.L FixedReset Ins Non -2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 6.99 %
CU.PR.F Perpetual-Discount -2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.12 %
TRP.PR.B FixedReset Disc -2.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 12.87
Evaluated at bid price : 12.87
Bid-YTW : 7.93 %
MFC.PR.F FixedReset Ins Non -2.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 15.20
Evaluated at bid price : 15.20
Bid-YTW : 6.95 %
MFC.PR.M FixedReset Ins Non -2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.88 %
BAM.PF.E FixedReset Disc -2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 7.51 %
BAM.PR.K Floater -2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 4.99 %
BAM.PR.T FixedReset Disc -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 17.28
Evaluated at bid price : 17.28
Bid-YTW : 7.44 %
TRP.PR.C FixedReset Disc -2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 13.40
Evaluated at bid price : 13.40
Bid-YTW : 7.94 %
PWF.PR.P FixedReset Disc -2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 7.29 %
PWF.PR.F Perpetual-Discount -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.29
Evaluated at bid price : 21.29
Bid-YTW : 6.28 %
GWO.PR.Y Insurance Straight -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 6.25 %
POW.PR.B Perpetual-Discount -2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.30
Evaluated at bid price : 21.57
Bid-YTW : 6.20 %
BAM.PR.R FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 17.15
Evaluated at bid price : 17.15
Bid-YTW : 7.41 %
BAM.PR.X FixedReset Disc -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 17.33
Evaluated at bid price : 17.33
Bid-YTW : 7.58 %
BMO.PR.T FixedReset Disc -1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.73 %
MFC.PR.N FixedReset Ins Non -1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.86 %
CM.PR.O FixedReset Disc -1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.70 %
BAM.PR.B Floater -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 4.99 %
MFC.PR.B Insurance Straight -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.04 %
FTS.PR.H FixedReset Disc -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 14.60
Evaluated at bid price : 14.60
Bid-YTW : 7.38 %
CCS.PR.C Insurance Straight -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.78
Evaluated at bid price : 20.78
Bid-YTW : 6.05 %
MFC.PR.Q FixedReset Ins Non -1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 22.57
Evaluated at bid price : 23.10
Bid-YTW : 6.41 %
GWO.PR.R Insurance Straight -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.34
Evaluated at bid price : 19.34
Bid-YTW : 6.24 %
PVS.PR.J SplitShare -1.52 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 22.65
Bid-YTW : 6.47 %
CU.PR.D Perpetual-Discount -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.19
Evaluated at bid price : 20.19
Bid-YTW : 6.14 %
BAM.PR.C Floater -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 13.05
Evaluated at bid price : 13.05
Bid-YTW : 4.97 %
GWO.PR.S Insurance Straight -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.39
Evaluated at bid price : 21.39
Bid-YTW : 6.17 %
PVS.PR.H SplitShare -1.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 23.92
Bid-YTW : 5.85 %
SLF.PR.E Insurance Straight -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.21
Evaluated at bid price : 19.21
Bid-YTW : 5.89 %
BAM.PF.D Perpetual-Discount -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 6.27 %
PWF.PR.E Perpetual-Discount -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 6.21 %
BAM.PF.A FixedReset Disc -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.63
Evaluated at bid price : 22.03
Bid-YTW : 7.09 %
FTS.PR.J Perpetual-Discount -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.04 %
BNS.PR.I FixedReset Disc -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 23.56
Evaluated at bid price : 23.95
Bid-YTW : 6.09 %
GWO.PR.Q Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.82
Evaluated at bid price : 20.82
Bid-YTW : 6.22 %
SLF.PR.G FixedReset Ins Non -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 14.76
Evaluated at bid price : 14.76
Bid-YTW : 7.20 %
IFC.PR.G FixedReset Ins Non -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.83
Evaluated at bid price : 22.33
Bid-YTW : 6.63 %
PWF.PR.L Perpetual-Discount -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.24 %
GWO.PR.G Insurance Straight -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.23 %
NA.PR.S FixedReset Disc -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.76 %
SLF.PR.H FixedReset Ins Non -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.94 %
BIP.PR.E FixedReset Disc -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 22.87
Evaluated at bid price : 23.50
Bid-YTW : 6.76 %
ELF.PR.H Perpetual-Discount -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 23.25
Evaluated at bid price : 23.55
Bid-YTW : 5.94 %
SLF.PR.C Insurance Straight -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 5.87 %
CM.PR.Q FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.26
Evaluated at bid price : 21.26
Bid-YTW : 6.62 %
IFC.PR.E Insurance Straight 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 22.06
Evaluated at bid price : 22.35
Bid-YTW : 5.83 %
IFC.PR.F Insurance Straight 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 22.08
Evaluated at bid price : 22.40
Bid-YTW : 5.93 %
FTS.PR.K FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 7.21 %
MFC.PR.K FixedReset Ins Non 2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.51 %
BAM.PF.I FixedReset Prem 2.16 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-03-31
Maturity Price : 25.00
Evaluated at bid price : 26.07
Bid-YTW : 4.39 %
Volume Highlights
Issue Index Shares
Traded
Notes
IAF.PR.G FixedReset Ins Non 220,000 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-30
Maturity Price : 25.00
Evaluated at bid price : 24.98
Bid-YTW : 3.78 %
RS.PR.A SplitShare 118,833 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-12-31
Maturity Price : 10.00
Evaluated at bid price : 10.04
Bid-YTW : 5.47 %
BAM.PF.F FixedReset Disc 103,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 20.06
Evaluated at bid price : 20.06
Bid-YTW : 7.44 %
MFC.PR.J FixedReset Ins Non 59,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 22.88
Evaluated at bid price : 23.52
Bid-YTW : 6.38 %
IFC.PR.G FixedReset Ins Non 53,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.83
Evaluated at bid price : 22.33
Bid-YTW : 6.63 %
CM.PR.R FixedReset Disc 48,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 24.10
Evaluated at bid price : 25.05
Bid-YTW : 6.83 %
There were 20 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
SLF.PR.H FixedReset Ins Non Quote: 17.65 – 23.50
Spot Rate : 5.8500
Average : 4.1905

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 6.94 %

BAM.PR.K Floater Quote: 13.00 – 15.31
Spot Rate : 2.3100
Average : 1.3184

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 13.00
Evaluated at bid price : 13.00
Bid-YTW : 4.99 %

BAM.PF.E FixedReset Disc Quote: 18.35 – 20.90
Spot Rate : 2.5500
Average : 1.6646

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 7.51 %

MFC.PR.L FixedReset Ins Non Quote: 19.31 – 22.00
Spot Rate : 2.6900
Average : 1.9184

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 19.31
Evaluated at bid price : 19.31
Bid-YTW : 6.99 %

IFC.PR.I Perpetual-Discount Quote: 22.50 – 24.74
Spot Rate : 2.2400
Average : 1.6008

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 22.16
Evaluated at bid price : 22.50
Bid-YTW : 6.02 %

PWF.PR.Z Perpetual-Discount Quote: 21.20 – 23.00
Spot Rate : 1.8000
Average : 1.2304

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-22
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.18 %

June 21, 2022

Tuesday, June 21st, 2022

Oh, what a wicked world this is!

The Securities and Exchange Commission today charged Haverford, PA-based Egan-Jones Ratings Company, a nationally recognized statistical rating organization (NRSRO) registered with the Commission in certain ratings classes, with violating conflict of interest provisions. The SEC also charged the company’s founder and chief executive officer, Sean Egan, with causing certain of those violations.

The SEC’s order finds that, in 2019, Egan, who at the time headed Egan-Jones’s ratings group, became involved in business and marketing activities concerning a client and was influenced by sales and marketing considerations while participating in determining a credit rating for that client, which created a prohibited conflict of interest. The order finds that by issuing and maintaining a rating for the client under those circumstances, Egan-Jones violated the SEC’s NRSRO conflict of interest rules and, further, that Egan caused the company’s violations.

Egan-Jones is an investor-pay Credit Rating Agency; you know, those guys who are ever so much more ethical than the issuer-pay crowd.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -0.3008 % 2,547.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3008 % 4,885.2
Floater 4.88 % 4.90 % 51,129 15.70 3 -0.3008 % 2,815.4
OpRet 0.00 % 0.00 % 0 0.00 0 -0.3894 % 3,476.2
SplitShare 4.89 % 5.50 % 39,943 3.17 8 -0.3894 % 4,151.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.3894 % 3,239.0
Perpetual-Premium 5.95 % 6.09 % 78,517 13.68 2 -0.0813 % 2,905.7
Perpetual-Discount 5.95 % 6.06 % 63,338 13.75 34 0.0551 % 3,117.9
FixedReset Disc 4.65 % 6.65 % 114,718 13.32 57 0.4493 % 2,510.8
Insurance Straight 5.99 % 6.07 % 86,799 13.82 19 0.0890 % 3,003.9
FloatingReset 5.55 % 5.89 % 49,864 14.08 2 0.9583 % 2,650.9
FixedReset Prem 5.10 % 5.16 % 135,609 1.97 9 0.0487 % 2,584.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4493 % 2,566.5
FixedReset Ins Non 4.49 % 6.55 % 78,024 13.45 15 -0.4599 % 2,672.3
Performance Highlights
Issue Index Change Notes
MFC.PR.K FixedReset Ins Non -4.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.65 %
TRP.PR.G FixedReset Disc -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 7.05 %
IFC.PR.I Perpetual-Discount -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 22.16
Evaluated at bid price : 22.50
Bid-YTW : 6.02 %
CU.PR.J Perpetual-Discount -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.10 %
CU.PR.G Perpetual-Discount -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 5.97 %
POW.PR.G Perpetual-Discount -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 6.01 %
CCS.PR.C Insurance Straight -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 5.94 %
PWF.PF.A Perpetual-Discount -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.04 %
PVS.PR.J SplitShare -1.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.16 %
PVS.PR.I SplitShare -1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-10-31
Maturity Price : 25.00
Evaluated at bid price : 24.20
Bid-YTW : 5.90 %
BIP.PR.B FixedReset Prem 1.01 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 5.49 %
BNS.PR.I FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 23.89
Evaluated at bid price : 24.25
Bid-YTW : 6.01 %
BAM.PF.J FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-12-31
Maturity Price : 25.00
Evaluated at bid price : 24.85
Bid-YTW : 5.72 %
TD.PF.J FixedReset Disc 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 23.20
Evaluated at bid price : 23.80
Bid-YTW : 6.44 %
PWF.PR.S Perpetual-Discount 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.17 %
BMO.PR.W FixedReset Disc 1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.53 %
POW.PR.B Perpetual-Discount 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 22.08
Evaluated at bid price : 22.36
Bid-YTW : 6.09 %
PWF.PR.T FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.98 %
BMO.PR.T FixedReset Disc 1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.61 %
SLF.PR.J FloatingReset 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 5.22 %
TRP.PR.B FixedReset Disc 2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 13.21
Evaluated at bid price : 13.21
Bid-YTW : 7.74 %
IFC.PR.C FixedReset Disc 2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.59 %
CU.PR.F Perpetual-Discount 2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.11
Evaluated at bid price : 19.11
Bid-YTW : 5.95 %
TRP.PR.D FixedReset Disc 2.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 7.41 %
NA.PR.W FixedReset Disc 3.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.36
Evaluated at bid price : 20.36
Bid-YTW : 6.67 %
Volume Highlights
Issue Index Shares
Traded
Notes
BMO.PR.E FixedReset Disc 211,090 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 23.47
Evaluated at bid price : 23.90
Bid-YTW : 6.33 %
TRP.PR.F FloatingReset 105,759 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 5.89 %
BAM.PF.A FixedReset Disc 52,176 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 21.81
Evaluated at bid price : 22.31
Bid-YTW : 6.99 %
MFC.PR.C Insurance Straight 30,985 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 5.90 %
TD.PF.B FixedReset Disc 25,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.68
Evaluated at bid price : 20.68
Bid-YTW : 6.61 %
BAM.PR.Z FixedReset Disc 23,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 22.82
Evaluated at bid price : 23.56
Bid-YTW : 6.71 %
There were 6 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CU.PR.J Perpetual-Discount Quote: 19.70 – 21.99
Spot Rate : 2.2900
Average : 1.4739

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 6.10 %

IFC.PR.A FixedReset Ins Non Quote: 19.51 – 20.98
Spot Rate : 1.4700
Average : 0.9659

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.54 %

BMO.PR.W FixedReset Disc Quote: 20.80 – 22.35
Spot Rate : 1.5500
Average : 1.1019

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.53 %

TD.PF.D FixedReset Disc Quote: 21.29 – 22.92
Spot Rate : 1.6300
Average : 1.2319

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 21.29
Evaluated at bid price : 21.29
Bid-YTW : 6.63 %

RY.PR.Z FixedReset Disc Quote: 20.70 – 22.55
Spot Rate : 1.8500
Average : 1.5006

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.60 %

CCS.PR.C Insurance Straight Quote: 21.15 – 24.25
Spot Rate : 3.1000
Average : 2.7538

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-21
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 5.94 %

June 20, 2022

Monday, June 20th, 2022
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.4026 % 2,554.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4026 % 4,900.0
Floater 4.87 % 4.87 % 51,784 15.74 3 0.4026 % 2,823.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.4633 % 3,489.8
SplitShare 4.87 % 5.51 % 40,423 3.18 8 0.4633 % 4,167.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4633 % 3,251.7
Perpetual-Premium 5.95 % 6.07 % 79,257 13.72 2 -0.6261 % 2,908.0
Perpetual-Discount 5.95 % 6.07 % 63,270 13.73 34 -0.5033 % 3,116.2
FixedReset Disc 4.67 % 6.66 % 116,924 13.27 57 0.2264 % 2,499.5
Insurance Straight 5.99 % 6.09 % 88,084 13.80 19 -0.6743 % 3,001.2
FloatingReset 5.60 % 5.89 % 46,206 14.07 2 3.1569 % 2,625.7
FixedReset Prem 5.11 % 5.21 % 135,585 1.98 9 -0.2032 % 2,583.4
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2264 % 2,555.0
FixedReset Ins Non 4.47 % 6.47 % 77,735 13.46 15 0.4653 % 2,684.7
Performance Highlights
Issue Index Change Notes
NA.PR.W FixedReset Disc -3.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.87 %
IFC.PR.F Insurance Straight -3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 21.60
Evaluated at bid price : 21.90
Bid-YTW : 6.07 %
PWF.PR.S Perpetual-Discount -2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.27 %
SLF.PR.E Insurance Straight -2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.80 %
BAM.PF.C Perpetual-Discount -2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 6.27 %
BAM.PR.M Perpetual-Discount -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.16 %
IFC.PR.C FixedReset Disc -1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.75 %
GWO.PR.I Insurance Straight -1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 18.74
Evaluated at bid price : 18.74
Bid-YTW : 6.04 %
CU.PR.D Perpetual-Discount -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.04 %
FTS.PR.K FixedReset Disc -1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.36 %
TRP.PR.D FixedReset Disc -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 7.62 %
CU.PR.F Perpetual-Discount -1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.11 %
GWO.PR.R Insurance Straight -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.53
Evaluated at bid price : 19.53
Bid-YTW : 6.18 %
GWO.PR.M Insurance Straight -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 23.62
Evaluated at bid price : 23.89
Bid-YTW : 6.09 %
GWO.PR.P Insurance Straight -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 22.01
Evaluated at bid price : 22.25
Bid-YTW : 6.09 %
SLF.PR.C Insurance Straight -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.24
Evaluated at bid price : 19.24
Bid-YTW : 5.81 %
MFC.PR.C Insurance Straight -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 5.87 %
BAM.PF.J FixedReset Disc -1.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 23.84
Evaluated at bid price : 24.51
Bid-YTW : 6.59 %
PWF.PR.H Perpetual-Discount -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 23.53
Evaluated at bid price : 23.80
Bid-YTW : 6.13 %
SLF.PR.H FixedReset Ins Non -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.88 %
MFC.PR.B Insurance Straight -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 5.90 %
GWO.PR.H Insurance Straight -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.88
Evaluated at bid price : 19.88
Bid-YTW : 6.13 %
POW.PR.B Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 21.73
Evaluated at bid price : 21.98
Bid-YTW : 6.20 %
PVS.PR.I SplitShare 1.03 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-10-31
Maturity Price : 25.00
Evaluated at bid price : 24.45
Bid-YTW : 5.56 %
CCS.PR.C Insurance Straight 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.87 %
MFC.PR.M FixedReset Ins Non 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.67 %
PVS.PR.J SplitShare 1.09 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 23.25
Bid-YTW : 5.93 %
BAM.PF.B FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 7.19 %
BAM.PR.T FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 7.31 %
NA.PR.E FixedReset Disc 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 22.64
Evaluated at bid price : 23.20
Bid-YTW : 6.45 %
BAM.PF.E FixedReset Disc 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 18.78
Evaluated at bid price : 18.78
Bid-YTW : 7.34 %
SLF.PR.D Insurance Straight 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 5.80 %
BAM.PR.R FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 17.47
Evaluated at bid price : 17.47
Bid-YTW : 7.28 %
TRP.PR.G FixedReset Disc 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 20.62
Evaluated at bid price : 20.62
Bid-YTW : 6.93 %
TD.PF.E FixedReset Disc 1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 6.65 %
GWO.PR.Y Insurance Straight 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 18.47
Evaluated at bid price : 18.47
Bid-YTW : 6.12 %
CM.PR.O FixedReset Disc 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.57 %
TRP.PR.C FixedReset Disc 2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 13.74
Evaluated at bid price : 13.74
Bid-YTW : 7.76 %
NA.PR.S FixedReset Disc 3.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 6.71 %
MFC.PR.K FixedReset Ins Non 4.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 21.62
Evaluated at bid price : 22.02
Bid-YTW : 6.33 %
SLF.PR.J FloatingReset 6.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 15.85
Evaluated at bid price : 15.85
Bid-YTW : 5.32 %
Volume Highlights
Issue Index Shares
Traded
Notes
TD.PF.K FixedReset Disc 106,890 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 22.56
Evaluated at bid price : 23.00
Bid-YTW : 6.48 %
TRP.PR.G FixedReset Disc 76,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 20.62
Evaluated at bid price : 20.62
Bid-YTW : 6.93 %
BAM.PR.N Perpetual-Discount 58,640 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.28
Evaluated at bid price : 19.28
Bid-YTW : 6.19 %
SLF.PR.D Insurance Straight 47,501 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.27
Evaluated at bid price : 19.27
Bid-YTW : 5.80 %
SLF.PR.E Insurance Straight 31,483 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.80 %
MFC.PR.I FixedReset Ins Non 27,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 23.91
Evaluated at bid price : 24.75
Bid-YTW : 6.35 %
There were 6 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
SLF.PR.J FloatingReset Quote: 15.85 – 25.00
Spot Rate : 9.1500
Average : 6.5752

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 15.85
Evaluated at bid price : 15.85
Bid-YTW : 5.32 %

CU.PR.F Perpetual-Discount Quote: 18.61 – 22.75
Spot Rate : 4.1400
Average : 2.5180

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.11 %

CU.PR.G Perpetual-Discount Quote: 19.30 – 23.00
Spot Rate : 3.7000
Average : 2.4236

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 5.89 %

SLF.PR.H FixedReset Ins Non Quote: 17.80 – 23.50
Spot Rate : 5.7000
Average : 4.6089

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 6.88 %

BAM.PF.B FixedReset Disc Quote: 20.41 – 22.65
Spot Rate : 2.2400
Average : 1.3805

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 7.19 %

BAM.PF.G FixedReset Disc Quote: 19.10 – 21.64
Spot Rate : 2.5400
Average : 1.6848

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-20
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 7.43 %

June 17, 2022

Monday, June 20th, 2022

Sorry this is so late!

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.9142 % 2,544.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.9142 % 4,880.3
Floater 4.89 % 4.90 % 51,832 15.71 3 0.9142 % 2,812.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0669 % 3,473.7
SplitShare 4.90 % 5.48 % 40,057 3.18 8 -0.0669 % 4,148.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0669 % 3,236.7
Perpetual-Premium 5.91 % 6.02 % 80,110 13.79 2 1.8096 % 2,926.3
Perpetual-Discount 5.92 % 6.04 % 63,026 13.78 34 0.6780 % 3,132.0
FixedReset Disc 4.68 % 6.61 % 119,113 13.26 57 0.4480 % 2,493.9
Insurance Straight 5.95 % 5.99 % 91,378 13.94 19 0.4032 % 3,021.6
FloatingReset 5.38 % 5.54 % 47,890 14.63 2 -3.8037 % 2,545.4
FixedReset Prem 5.10 % 5.13 % 137,704 1.98 9 0.2391 % 2,588.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4480 % 2,549.3
FixedReset Ins Non 4.49 % 6.47 % 77,276 13.54 15 0.3264 % 2,672.2
Performance Highlights
Issue Index Change Notes
SLF.PR.J FloatingReset -7.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 14.95
Evaluated at bid price : 14.95
Bid-YTW : 5.22 %
GWO.PR.Y Insurance Straight -2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 18.10
Evaluated at bid price : 18.10
Bid-YTW : 6.25 %
IFC.PR.E Insurance Straight -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.68
Evaluated at bid price : 22.00
Bid-YTW : 5.92 %
TRP.PR.C FixedReset Disc -1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 13.40
Evaluated at bid price : 13.40
Bid-YTW : 7.86 %
SLF.PR.D Insurance Straight -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 5.88 %
CCS.PR.C Insurance Straight -1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.18
Evaluated at bid price : 21.18
Bid-YTW : 5.93 %
BMO.PR.S FixedReset Disc -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.62
Evaluated at bid price : 20.62
Bid-YTW : 6.70 %
IFC.PR.K Perpetual-Discount -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.97
Evaluated at bid price : 22.26
Bid-YTW : 5.91 %
PVS.PR.J SplitShare -1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 6.14 %
PWF.PR.G Perpetual-Premium 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 24.60
Evaluated at bid price : 24.85
Bid-YTW : 6.02 %
BAM.PF.J FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-12-31
Maturity Price : 25.00
Evaluated at bid price : 24.80
Bid-YTW : 5.98 %
BAM.PR.M Perpetual-Discount 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.03 %
GWO.PR.M Insurance Straight 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 24.00
Evaluated at bid price : 24.25
Bid-YTW : 6.00 %
TRP.PR.G FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.99 %
BAM.PR.Z FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 22.82
Evaluated at bid price : 23.55
Bid-YTW : 6.64 %
TRP.PR.E FixedReset Disc 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 7.45 %
GWO.PR.Q Insurance Straight 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.10 %
BIP.PR.E FixedReset Disc 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 23.17
Evaluated at bid price : 23.80
Bid-YTW : 6.60 %
SLF.PR.C Insurance Straight 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 5.73 %
CU.PR.J Perpetual-Discount 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.04 %
BAM.PF.G FixedReset Disc 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 7.37 %
GWO.PR.R Insurance Straight 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.83
Evaluated at bid price : 19.83
Bid-YTW : 6.08 %
FTS.PR.F Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.01 %
BAM.PF.C Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.12 %
TRP.PR.B FixedReset Disc 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 12.85
Evaluated at bid price : 12.85
Bid-YTW : 7.85 %
PWF.PR.H Perpetual-Discount 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 23.83
Evaluated at bid price : 24.08
Bid-YTW : 6.06 %
CU.PR.F Perpetual-Discount 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.01 %
GWO.PR.I Insurance Straight 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.92 %
TRP.PR.D FixedReset Disc 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 18.85
Evaluated at bid price : 18.85
Bid-YTW : 7.43 %
FTS.PR.M FixedReset Disc 1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.07
Evaluated at bid price : 20.07
Bid-YTW : 6.96 %
BAM.PR.C Floater 1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 13.23
Evaluated at bid price : 13.23
Bid-YTW : 4.90 %
FTS.PR.J Perpetual-Discount 2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 5.94 %
BMO.PR.W FixedReset Disc 2.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.46
Evaluated at bid price : 20.46
Bid-YTW : 6.57 %
IFC.PR.I Perpetual-Discount 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 22.66
Evaluated at bid price : 22.95
Bid-YTW : 5.89 %
MIC.PR.A Perpetual-Discount 2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.34
Evaluated at bid price : 21.65
Bid-YTW : 6.25 %
SLF.PR.E Insurance Straight 2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.96
Evaluated at bid price : 19.96
Bid-YTW : 5.66 %
POW.PR.G Perpetual-Discount 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 23.91
Evaluated at bid price : 24.15
Bid-YTW : 5.90 %
CM.PR.Q FixedReset Disc 2.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.58 %
POW.PR.C Perpetual-Premium 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 24.35
Evaluated at bid price : 24.66
Bid-YTW : 5.98 %
GWO.PR.P Insurance Straight 2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 22.31
Evaluated at bid price : 22.58
Bid-YTW : 5.99 %
IFC.PR.G FixedReset Ins Non 2.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 22.01
Evaluated at bid price : 22.61
Bid-YTW : 6.47 %
TRP.PR.A FixedReset Disc 2.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 16.19
Evaluated at bid price : 16.19
Bid-YTW : 7.66 %
NA.PR.W FixedReset Disc 3.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 6.58 %
IFC.PR.C FixedReset Disc 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.57 %
CU.PR.G Perpetual-Discount 4.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 19.33
Evaluated at bid price : 19.33
Bid-YTW : 5.88 %
Volume Highlights
Issue Index Shares
Traded
Notes
NA.PR.E FixedReset Disc 28,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 22.18
Evaluated at bid price : 22.90
Bid-YTW : 6.46 %
RS.PR.A SplitShare 21,600 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-12-31
Maturity Price : 10.00
Evaluated at bid price : 10.09
Bid-YTW : 5.28 %
TD.PF.I FixedReset Disc 17,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 23.97
Evaluated at bid price : 24.70
Bid-YTW : 6.46 %
BAM.PR.Z FixedReset Disc 14,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 22.82
Evaluated at bid price : 23.55
Bid-YTW : 6.64 %
MFC.PR.J FixedReset Ins Non 14,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 23.05
Evaluated at bid price : 23.70
Bid-YTW : 6.26 %
CU.PR.F Perpetual-Discount 14,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.01 %
There were 5 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
SLF.PR.H FixedReset Ins Non Quote: 18.00 – 23.50
Spot Rate : 5.5000
Average : 3.4127

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.75 %

CCS.PR.C Insurance Straight Quote: 21.18 – 24.25
Spot Rate : 3.0700
Average : 1.8524

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.18
Evaluated at bid price : 21.18
Bid-YTW : 5.93 %

BAM.PF.F FixedReset Disc Quote: 20.01 – 22.48
Spot Rate : 2.4700
Average : 1.5138

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.01
Evaluated at bid price : 20.01
Bid-YTW : 7.39 %

RY.PR.J FixedReset Disc Quote: 21.25 – 23.10
Spot Rate : 1.8500
Average : 1.1608

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.61 %

TD.PF.D FixedReset Disc Quote: 21.01 – 22.92
Spot Rate : 1.9100
Average : 1.2399

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 6.65 %

MFC.PR.M FixedReset Ins Non Quote: 20.43 – 22.00
Spot Rate : 1.5700
Average : 1.0457

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-17
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 6.67 %

June 16, 2022

Thursday, June 16th, 2022

TXPR closed at 617.13, down 1.74% on the day. Volume today was 1.51-million, slightly above the median of the past 21 trading days.

CPD closed at 12.26, down 2.16% on the day. Volume was 90,760, above the median of the past 21 trading days.

ZPR closed at 10.27 down 2.19% on the day. Volume of 227,820 was above the median of the past 21 trading days.

Five-year Canada yields were down to 3.33% today.

It was a bad day all ’round:

Canada’s main stock index slumped on Thursday to its lowest level in 14 months and its currency weakened as investors grew more worried that aggressive central bank interest rate hikes would trigger a recession, weighing on corporate earnings.

The Toronto Stock Exchange’s S&P/TSX composite index unofficially closed down 3.1%, or 607.50 points, at 19,004.06, its lowest level since April 2021.

The Canadian dollar was trading 0.3% lower at 1.2925 to the greenback, or 77.37 U.S. cents, after touching on Wednesday its weakest intraday level in more than one month at 1.2995.

U.S. stock indexes also tumbled on Thursday as the Swiss National Bank and the Bank of England lifted interest rates following the Federal Reserve’s 75-basis-point hike on Wednesday, with central banks aiming to slow domestic activity in the face of soaring price pressures.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -1.6729 % 2,521.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.6729 % 4,836.1
Floater 4.93 % 4.92 % 53,616 15.67 3 -1.6729 % 2,787.1
OpRet 0.00 % 0.00 % 0 0.00 0 -0.6744 % 3,476.0
SplitShare 4.89 % 5.49 % 39,856 3.19 8 -0.6744 % 4,151.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.6744 % 3,238.9
Perpetual-Premium 6.01 % 6.08 % 81,324 13.70 2 -2.4473 % 2,874.3
Perpetual-Discount 5.96 % 6.10 % 63,364 13.74 34 -1.7740 % 3,110.9
FixedReset Disc 4.70 % 6.69 % 122,851 13.33 57 -2.2799 % 2,482.8
Insurance Straight 5.98 % 6.05 % 92,629 13.85 19 -1.2989 % 3,009.5
FloatingReset 5.18 % 5.54 % 49,842 14.63 2 -1.7480 % 2,646.0
FixedReset Prem 5.11 % 5.49 % 139,166 1.98 9 -0.5461 % 2,582.5
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -2.2799 % 2,537.9
FixedReset Ins Non 4.51 % 6.57 % 77,401 13.47 15 -1.5426 % 2,663.5
Performance Highlights
Issue Index Change Notes
NA.PR.S FixedReset Disc -6.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.85 %
BAM.PR.T FixedReset Disc -6.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 7.31 %
NA.PR.W FixedReset Disc -6.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.79 %
TRP.PR.G FixedReset Disc -5.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 7.06 %
FTS.PR.F Perpetual-Discount -5.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.10 %
FTS.PR.J Perpetual-Discount -5.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.06 %
MFC.PR.K FixedReset Ins Non -4.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.59 %
TRP.PR.A FixedReset Disc -4.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 15.75
Evaluated at bid price : 15.75
Bid-YTW : 7.87 %
BMO.PR.T FixedReset Disc -4.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 6.66 %
FTS.PR.H FixedReset Disc -3.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 14.70
Evaluated at bid price : 14.70
Bid-YTW : 7.25 %
BMO.PR.W FixedReset Disc -3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 6.70 %
POW.PR.C Perpetual-Premium -3.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.72
Evaluated at bid price : 24.03
Bid-YTW : 6.14 %
MIC.PR.A Perpetual-Discount -3.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.40 %
TRP.PR.F FloatingReset -3.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 5.54 %
GWO.PR.S Insurance Straight -3.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.16 %
TD.PF.D FixedReset Disc -3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 6.70 %
TRP.PR.B FixedReset Disc -3.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 12.66
Evaluated at bid price : 12.66
Bid-YTW : 7.96 %
BAM.PR.X FixedReset Disc -3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 17.47
Evaluated at bid price : 17.47
Bid-YTW : 7.42 %
BMO.PR.Y FixedReset Disc -3.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.85
Evaluated at bid price : 20.85
Bid-YTW : 6.61 %
PWF.PR.T FixedReset Disc -3.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.16
Evaluated at bid price : 20.16
Bid-YTW : 6.99 %
MFC.PR.L FixedReset Ins Non -3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.58
Evaluated at bid price : 19.58
Bid-YTW : 6.81 %
NA.PR.E FixedReset Disc -3.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.55
Evaluated at bid price : 23.10
Bid-YTW : 6.41 %
CU.PR.J Perpetual-Discount -3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 6.12 %
IFC.PR.G FixedReset Ins Non -3.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.61
Evaluated at bid price : 22.00
Bid-YTW : 6.66 %
TRP.PR.C FixedReset Disc -3.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 13.62
Evaluated at bid price : 13.62
Bid-YTW : 7.74 %
TRP.PR.E FixedReset Disc -3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.53 %
BAM.PF.C Perpetual-Discount -3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.61
Evaluated at bid price : 19.61
Bid-YTW : 6.21 %
CU.PR.F Perpetual-Discount -3.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.61
Evaluated at bid price : 18.61
Bid-YTW : 6.11 %
GWO.PR.T Insurance Straight -3.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.88
Evaluated at bid price : 20.88
Bid-YTW : 6.20 %
CU.PR.G Perpetual-Discount -3.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.56
Evaluated at bid price : 18.56
Bid-YTW : 6.12 %
PWF.PF.A Perpetual-Discount -3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 5.96 %
TRP.PR.D FixedReset Disc -2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 7.55 %
CM.PR.Q FixedReset Disc -2.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.73 %
IFC.PR.C FixedReset Disc -2.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.77 %
BAM.PF.G FixedReset Disc -2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.84
Evaluated at bid price : 18.84
Bid-YTW : 7.46 %
BAM.PF.B FixedReset Disc -2.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 7.20 %
FTS.PR.K FixedReset Disc -2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 7.23 %
BAM.PR.C Floater -2.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 13.01
Evaluated at bid price : 13.01
Bid-YTW : 4.98 %
CCS.PR.C Insurance Straight -2.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.84 %
BAM.PF.E FixedReset Disc -2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.47
Evaluated at bid price : 18.47
Bid-YTW : 7.39 %
ELF.PR.H Perpetual-Discount -2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 5.90 %
NA.PR.G FixedReset Disc -2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.41
Evaluated at bid price : 23.85
Bid-YTW : 6.38 %
TD.PF.K FixedReset Disc -2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.48
Evaluated at bid price : 22.90
Bid-YTW : 6.45 %
BMO.PR.S FixedReset Disc -2.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 6.61 %
BAM.PF.A FixedReset Disc -2.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.74
Evaluated at bid price : 22.20
Bid-YTW : 6.96 %
GWO.PR.R Insurance Straight -2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.17 %
GWO.PR.G Insurance Straight -2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.11
Evaluated at bid price : 21.11
Bid-YTW : 6.19 %
RY.PR.M FixedReset Disc -2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.65 %
MFC.PR.N FixedReset Ins Non -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.57 %
RY.PR.S FixedReset Disc -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.11
Evaluated at bid price : 23.50
Bid-YTW : 6.05 %
GWO.PR.L Insurance Straight -2.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.93
Evaluated at bid price : 23.20
Bid-YTW : 6.10 %
CM.PR.S FixedReset Disc -2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.33
Evaluated at bid price : 23.15
Bid-YTW : 6.27 %
CU.PR.H Perpetual-Discount -2.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.85
Evaluated at bid price : 21.85
Bid-YTW : 6.07 %
BAM.PR.M Perpetual-Discount -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 6.09 %
FTS.PR.M FixedReset Disc -1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 7.07 %
POW.PR.B Perpetual-Discount -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.01
Evaluated at bid price : 22.25
Bid-YTW : 6.12 %
PWF.PR.S Perpetual-Discount -1.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.15 %
GWO.PR.Q Insurance Straight -1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.17 %
SLF.PR.H FixedReset Ins Non -1.91 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.75 %
RY.PR.J FixedReset Disc -1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.26
Evaluated at bid price : 21.26
Bid-YTW : 6.60 %
SLF.PR.E Insurance Straight -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.54
Evaluated at bid price : 19.54
Bid-YTW : 5.78 %
BAM.PR.R FixedReset Disc -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 17.10
Evaluated at bid price : 17.10
Bid-YTW : 7.36 %
BAM.PR.N Perpetual-Discount -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 6.10 %
BAM.PF.F FixedReset Disc -1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 7.32 %
TD.PF.J FixedReset Disc -1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.72
Evaluated at bid price : 23.30
Bid-YTW : 6.51 %
RY.PR.H FixedReset Disc -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.55 %
PWF.PR.R Perpetual-Discount -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.41
Evaluated at bid price : 22.67
Bid-YTW : 6.16 %
TD.PF.E FixedReset Disc -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.01
Evaluated at bid price : 21.01
Bid-YTW : 6.68 %
BAM.PF.H FixedReset Prem -1.73 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.60
Bid-YTW : 4.23 %
PVS.PR.K SplitShare -1.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 23.10
Bid-YTW : 5.85 %
TD.PF.B FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.64 %
GWO.PR.H Insurance Straight -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.91
Evaluated at bid price : 19.91
Bid-YTW : 6.12 %
PWF.PR.E Perpetual-Discount -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.35
Evaluated at bid price : 22.62
Bid-YTW : 6.17 %
TD.PF.A FixedReset Disc -1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.37
Evaluated at bid price : 20.37
Bid-YTW : 6.57 %
PWF.PR.Z Perpetual-Discount -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.28
Evaluated at bid price : 21.28
Bid-YTW : 6.15 %
PWF.PR.F Perpetual-Discount -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.40
Evaluated at bid price : 21.67
Bid-YTW : 6.15 %
BAM.PR.K Floater -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 13.17
Evaluated at bid price : 13.17
Bid-YTW : 4.92 %
CIU.PR.A Perpetual-Discount -1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.32
Evaluated at bid price : 19.32
Bid-YTW : 6.01 %
POW.PR.A Perpetual-Discount -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 6.06 %
MFC.PR.M FixedReset Ins Non -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.65 %
BAM.PF.J FixedReset Disc -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.90
Evaluated at bid price : 24.55
Bid-YTW : 6.51 %
GWO.PR.N FixedReset Ins Non -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 14.10
Evaluated at bid price : 14.10
Bid-YTW : 7.02 %
TD.PF.C FixedReset Disc -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.76
Evaluated at bid price : 20.76
Bid-YTW : 6.47 %
PWF.PR.H Perpetual-Discount -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.43
Evaluated at bid price : 23.72
Bid-YTW : 6.15 %
FTS.PR.G FixedReset Disc -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.66
Evaluated at bid price : 19.66
Bid-YTW : 6.96 %
PWF.PR.K Perpetual-Discount -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 6.16 %
GWO.PR.P Insurance Straight -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 6.15 %
SLF.PR.C Insurance Straight -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.26
Evaluated at bid price : 19.26
Bid-YTW : 5.80 %
RY.PR.Z FixedReset Disc -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.51 %
SLF.PR.D Insurance Straight -1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 5.79 %
POW.PR.D Perpetual-Discount -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.05
Evaluated at bid price : 21.05
Bid-YTW : 6.06 %
BIP.PR.E FixedReset Disc -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.88
Evaluated at bid price : 23.50
Bid-YTW : 6.69 %
CM.PR.O FixedReset Disc -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.66 %
PWF.PR.L Perpetual-Discount -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.09
Evaluated at bid price : 21.09
Bid-YTW : 6.15 %
CU.PR.C FixedReset Disc -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.55
Evaluated at bid price : 21.55
Bid-YTW : 6.55 %
BMO.PR.E FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.34
Evaluated at bid price : 23.78
Bid-YTW : 6.29 %
ELF.PR.F Perpetual-Discount -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.01
Evaluated at bid price : 22.25
Bid-YTW : 6.06 %
PVS.PR.H SplitShare -1.02 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2027-02-28
Maturity Price : 25.00
Evaluated at bid price : 24.25
Bid-YTW : 5.49 %
IFC.PR.A FixedReset Ins Non -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.51
Evaluated at bid price : 19.51
Bid-YTW : 6.46 %
PVS.PR.G SplitShare -1.01 % YTW SCENARIO
Maturity Type : Option Certainty
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 24.40
Bid-YTW : 5.70 %
CU.PR.E Perpetual-Discount -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.04 %
PWF.PR.G Perpetual-Premium -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 24.29
Evaluated at bid price : 24.60
Bid-YTW : 6.08 %
BAM.PF.D Perpetual-Discount 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.15 %
GWO.PR.Y Insurance Straight 5.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.50
Evaluated at bid price : 18.50
Bid-YTW : 6.11 %
Volume Highlights
Issue Index Shares
Traded
Notes
BAM.PR.Z FixedReset Disc 120,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.41
Evaluated at bid price : 23.30
Bid-YTW : 6.71 %
TD.PF.J FixedReset Disc 49,608 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 22.72
Evaluated at bid price : 23.30
Bid-YTW : 6.51 %
BMO.PR.E FixedReset Disc 39,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 23.34
Evaluated at bid price : 23.78
Bid-YTW : 6.29 %
CU.PR.E Perpetual-Discount 38,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.04 %
FTS.PR.J Perpetual-Discount 28,405 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.06 %
TD.PF.L FixedReset Prem 24,300 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-04-30
Maturity Price : 25.00
Evaluated at bid price : 24.78
Bid-YTW : 6.12 %
There were 22 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: 16.20 – 25.00
Spot Rate : 8.8000
Average : 6.7695

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 16.20
Evaluated at bid price : 16.20
Bid-YTW : 4.82 %

MFC.PR.L FixedReset Ins Non Quote: 19.58 – 22.00
Spot Rate : 2.4200
Average : 1.5770

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 19.58
Evaluated at bid price : 19.58
Bid-YTW : 6.81 %

BAM.PR.T FixedReset Disc Quote: 17.45 – 20.05
Spot Rate : 2.6000
Average : 1.8368

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 7.31 %

NA.PR.S FixedReset Disc Quote: 20.50 – 22.34
Spot Rate : 1.8400
Average : 1.1797

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.85 %

TRP.PR.E FixedReset Disc Quote: 18.20 – 20.50
Spot Rate : 2.3000
Average : 1.6424

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.53 %

GWO.PR.S Insurance Straight Quote: 21.40 – 23.35
Spot Rate : 1.9500
Average : 1.4457

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-16
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 6.16 %

June 15, 2022

Wednesday, June 15th, 2022

The big news of the day was the FOMC meeting:

Overall economic activity appears to have picked up after edging down in the first quarter. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures.

The invasion of Ukraine by Russia is causing tremendous human and economic hardship. The invasion and related events are creating additional upward pressure on inflation and are weighing on global economic activity. In addition, COVID-related lockdowns in China are likely to exacerbate supply chain disruptions. The Committee is highly attentive to inflation risks.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 1‑1/2 to 1-3/4 percent and anticipates that ongoing increases in the target range will be appropriate. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in the Plans for Reducing the Size of the Federal Reserve’s Balance Sheet that were issued in May. The Committee is strongly committed to returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; James Bullard; Lisa D. Cook; Patrick Harker; Philip N. Jefferson; Loretta J. Mester; and Christopher J. Waller. Voting against this action was Esther L. George, who preferred at this meeting to raise the target range for the federal funds rate by 0.5 percentage point to 1-1/4 percent to 1-1/2 percent. Patrick Harker voted as an alternate member at this meeting.

But the big market mover, it appears, was the accompanying economic projections.

The Globe & Mail remarks:

Bond yields fell after the release of Fed projections on Wednesday that showed economic growth slowing to a below-trend rate of 1.7 per cent, and policymakers expecting to cut interest rates in 2024. Stocks on Wall Street ended the day higher.

Interest rate futures markets also reflected about an 85 per cent probability that the Fed will raise rates by 75 basis points at its next policy meeting in July. For September’s meeting, however, the greater probability – at more than 50 per cent – was for a 50-basis-point increase.

Meanwhile, in the frozen North:

Canadian home prices and sales dropped in May in a second straight month of declines, as a sharp jump in borrowing costs rattles the market and makes it harder for homebuyers to get a mortgage.

The national home price index, which adjusts for pricing volatility, fell 0.8 per cent to $822,900 on a seasonally adjusted basis, according to the Canadian Real Estate Association, or CREA, with more sizable price declines in what had been some of the country’s hottest markets — southern Ontario and Chilliwack B.C.

The number of home resales dropped by 8.6 per cent from April to May on a seasonally adjusted basis, bringing the level of activity back in line with pre-pandemic times, CREA said. Last month’s sales were down in three-quarters of the country, with the greatest declines in the major cities, including Toronto.

PerpetualDiscounts now yield 5.98%, equivalent to 7.77% interest at the standard equivalency factor of 1.3x. Long corporates now yield 4.94%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has widened sharply to 285bp from the 245bp reported June 8.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 -0.3979 % 2,564.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3979 % 4,918.4
Floater 4.85 % 4.85 % 53,794 15.79 3 -0.3979 % 2,834.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0051 % 3,499.6
SplitShare 4.86 % 5.27 % 38,812 3.19 8 -0.0051 % 4,179.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0051 % 3,260.9
Perpetual-Premium 5.87 % 5.90 % 67,300 13.95 2 0.6054 % 2,946.4
Perpetual-Discount 5.86 % 5.98 % 60,910 13.95 34 -0.0718 % 3,167.1
FixedReset Disc 4.59 % 6.50 % 122,351 13.54 57 0.2002 % 2,540.7
Insurance Straight 5.90 % 5.96 % 89,716 14.02 19 -0.6218 % 3,049.1
FloatingReset 5.09 % 5.34 % 49,134 14.96 2 -0.1805 % 2,693.1
FixedReset Prem 5.08 % 5.40 % 135,581 1.99 9 -0.3599 % 2,596.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2002 % 2,597.1
FixedReset Ins Non 4.44 % 6.39 % 79,379 13.60 15 -0.0610 % 2,705.3
Performance Highlights
Issue Index Change Notes
GWO.PR.Y Insurance Straight -9.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 17.50
Evaluated at bid price : 17.50
Bid-YTW : 6.46 %
BIP.PR.A FixedReset Disc -2.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 7.42 %
BAM.PR.N Perpetual-Discount -2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 19.91
Evaluated at bid price : 19.91
Bid-YTW : 5.99 %
BAM.PR.R FixedReset Disc -2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 7.23 %
BAM.PR.M Perpetual-Discount -2.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.96 %
GWO.PR.P Insurance Straight -2.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 22.07
Evaluated at bid price : 22.30
Bid-YTW : 6.07 %
CCS.PR.C Insurance Straight -2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.82
Evaluated at bid price : 22.06
Bid-YTW : 5.68 %
CM.PR.Y FixedReset Prem -1.77 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2024-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 5.52 %
GWO.PR.M Insurance Straight -1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 23.85
Evaluated at bid price : 24.10
Bid-YTW : 6.03 %
BIP.PR.F FixedReset Disc -1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 23.66
Evaluated at bid price : 24.06
Bid-YTW : 6.40 %
PWF.PR.O Perpetual-Discount -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 6.13 %
SLF.PR.H FixedReset Ins Non -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 6.62 %
PVS.PR.J SplitShare -1.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 23.30
Bid-YTW : 5.87 %
BAM.PF.B FixedReset Disc -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 20.78
Evaluated at bid price : 20.78
Bid-YTW : 7.00 %
TRP.PR.A FixedReset Disc -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 7.52 %
TRP.PR.E FixedReset Disc -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.29 %
POW.PR.G Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 23.48
Evaluated at bid price : 23.75
Bid-YTW : 6.00 %
BIP.PR.E FixedReset Disc 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 23.17
Evaluated at bid price : 23.80
Bid-YTW : 6.60 %
CU.PR.F Perpetual-Discount 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 19.21
Evaluated at bid price : 19.21
Bid-YTW : 5.91 %
MFC.PR.N FixedReset Ins Non 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 20.81
Evaluated at bid price : 20.81
Bid-YTW : 6.43 %
NA.PR.S FixedReset Disc 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.60
Evaluated at bid price : 22.01
Bid-YTW : 6.37 %
PVS.PR.K SplitShare 1.29 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 23.50
Bid-YTW : 5.55 %
POW.PR.C Perpetual-Premium 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 24.68
Evaluated at bid price : 25.00
Bid-YTW : 5.90 %
BAM.PF.J FixedReset Disc 1.43 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-12-31
Maturity Price : 25.00
Evaluated at bid price : 24.90
Bid-YTW : 5.16 %
TRP.PR.G FixedReset Disc 1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 6.71 %
POW.PR.B Perpetual-Discount 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 5.99 %
GWO.PR.R Insurance Straight 2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 20.02
Evaluated at bid price : 20.02
Bid-YTW : 6.02 %
RY.PR.J FixedReset Disc 2.70 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.36
Evaluated at bid price : 21.67
Bid-YTW : 6.47 %
BMO.PR.W FixedReset Disc 3.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 20.86
Evaluated at bid price : 20.86
Bid-YTW : 6.44 %
Volume Highlights
Issue Index Shares
Traded
Notes
CM.PR.R FixedReset Disc 69,966 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.08
Bid-YTW : 6.54 %
IFC.PR.A FixedReset Ins Non 55,184 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 19.71
Evaluated at bid price : 19.71
Bid-YTW : 6.39 %
RY.PR.J FixedReset Disc 47,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.36
Evaluated at bid price : 21.67
Bid-YTW : 6.47 %
BAM.PR.K Floater 32,017 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 13.37
Evaluated at bid price : 13.37
Bid-YTW : 4.84 %
TRP.PR.A FixedReset Disc 31,208 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 16.51
Evaluated at bid price : 16.51
Bid-YTW : 7.52 %
PWF.PR.G Perpetual-Premium 20,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 24.60
Evaluated at bid price : 24.85
Bid-YTW : 6.02 %
There were 9 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
IFC.PR.C FixedReset Disc Quote: 20.34 – 22.83
Spot Rate : 2.4900
Average : 1.7901

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 20.34
Evaluated at bid price : 20.34
Bid-YTW : 6.58 %

BAM.PR.T FixedReset Disc Quote: 18.62 – 20.05
Spot Rate : 1.4300
Average : 0.9999

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 18.62
Evaluated at bid price : 18.62
Bid-YTW : 6.87 %

CCS.PR.C Insurance Straight Quote: 22.06 – 23.25
Spot Rate : 1.1900
Average : 0.8107

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.82
Evaluated at bid price : 22.06
Bid-YTW : 5.68 %

BIP.PR.A FixedReset Disc Quote: 21.40 – 23.00
Spot Rate : 1.6000
Average : 1.2605

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 7.42 %

BAM.PR.R FixedReset Disc Quote: 17.42 – 19.40
Spot Rate : 1.9800
Average : 1.7058

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 17.42
Evaluated at bid price : 17.42
Bid-YTW : 7.23 %

CU.PR.G Perpetual-Discount Quote: 19.15 – 23.00
Spot Rate : 3.8500
Average : 3.5953

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2052-06-15
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 5.93 %