HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
Ratchet | 3.91 % | 4.57 % | 19,696 | 18.21 | 1 | 1.4085 % | 2,564.2 |
FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.9814 % | 4,993.3 |
Floater | 4.13 % | 4.19 % | 42,529 | 16.98 | 3 | 1.9814 % | 2,877.7 |
OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0051 % | 3,496.2 |
SplitShare | 4.86 % | 5.59 % | 36,415 | 3.26 | 8 | -0.0051 % | 4,175.2 |
Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0051 % | 3,257.7 |
Perpetual-Premium | 5.90 % | 5.95 % | 58,359 | 13.94 | 1 | 0.0000 % | 2,958.2 |
Perpetual-Discount | 5.78 % | 5.86 % | 64,877 | 14.02 | 35 | -0.0078 % | 3,214.6 |
FixedReset Disc | 4.56 % | 5.92 % | 124,426 | 14.26 | 59 | 0.1766 % | 2,543.2 |
Insurance Straight | 5.70 % | 5.86 % | 89,285 | 14.02 | 20 | 0.5750 % | 3,147.5 |
FloatingReset | 4.59 % | 4.88 % | 58,089 | 15.65 | 2 | -0.1524 % | 2,658.2 |
FixedReset Prem | 5.10 % | 5.37 % | 125,668 | 2.06 | 9 | -0.0178 % | 2,583.2 |
FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1766 % | 2,599.7 |
FixedReset Ins Non | 4.44 % | 5.86 % | 72,694 | 14.17 | 15 | 1.0105 % | 2,702.7 |
Performance Highlights | |||
Issue | Index | Change | Notes |
TRP.PR.E | FixedReset Disc | -2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 19.33 Evaluated at bid price : 19.33 Bid-YTW : 6.47 % |
FTS.PR.G | FixedReset Disc | -1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 6.14 % |
BIP.PR.A | FixedReset Disc | -1.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.82 Evaluated at bid price : 22.10 Bid-YTW : 6.75 % |
FTS.PR.M | FixedReset Disc | -1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 6.45 % |
TRP.PR.D | FixedReset Disc | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 6.49 % |
MIC.PR.A | Perpetual-Discount | -1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.27 Evaluated at bid price : 21.56 Bid-YTW : 6.36 % |
GWO.PR.P | Insurance Straight | -1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 22.82 Evaluated at bid price : 23.10 Bid-YTW : 5.93 % |
POW.PR.B | Perpetual-Discount | -1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 22.33 Evaluated at bid price : 22.60 Bid-YTW : 5.99 % |
FTS.PR.K | FixedReset Disc | -1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 18.75 Evaluated at bid price : 18.75 Bid-YTW : 6.38 % |
CM.PR.Q | FixedReset Disc | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.46 Evaluated at bid price : 21.81 Bid-YTW : 5.88 % |
FTS.PR.H | FixedReset Disc | -1.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 14.85 Evaluated at bid price : 14.85 Bid-YTW : 6.43 % |
GWO.PR.M | Insurance Straight | 1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 24.60 Evaluated at bid price : 24.85 Bid-YTW : 5.92 % |
PWF.PR.P | FixedReset Disc | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 14.75 Evaluated at bid price : 14.75 Bid-YTW : 6.53 % |
GWO.PR.Q | Insurance Straight | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 22.04 Evaluated at bid price : 22.27 Bid-YTW : 5.87 % |
TD.PF.A | FixedReset Disc | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 5.87 % |
MFC.PR.B | Insurance Straight | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.92 Evaluated at bid price : 20.92 Bid-YTW : 5.66 % |
BAM.PR.E | Ratchet | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 25.00 Evaluated at bid price : 18.00 Bid-YTW : 4.57 % |
BMO.PR.Y | FixedReset Disc | 1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.51 Evaluated at bid price : 21.51 Bid-YTW : 5.89 % |
GWO.PR.Y | Insurance Straight | 1.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 5.76 % |
IFC.PR.A | FixedReset Ins Non | 1.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 5.94 % |
PWF.PR.Z | Perpetual-Discount | 2.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.94 Evaluated at bid price : 22.20 Bid-YTW : 5.85 % |
MFC.PR.L | FixedReset Ins Non | 2.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.13 % |
BAM.PR.R | FixedReset Disc | 2.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 17.67 Evaluated at bid price : 17.67 Bid-YTW : 6.64 % |
BMO.PR.W | FixedReset Disc | 2.74 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.92 % |
MFC.PR.F | FixedReset Ins Non | 2.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 15.72 Evaluated at bid price : 15.72 Bid-YTW : 6.06 % |
CCS.PR.C | Insurance Straight | 2.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.94 Evaluated at bid price : 22.17 Bid-YTW : 5.72 % |
MFC.PR.N | FixedReset Ins Non | 3.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 6.12 % |
NA.PR.S | FixedReset Disc | 3.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.31 Evaluated at bid price : 21.60 Bid-YTW : 5.90 % |
MFC.PR.M | FixedReset Ins Non | 5.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.49 Evaluated at bid price : 20.49 Bid-YTW : 6.14 % |
BAM.PF.E | FixedReset Disc | 5.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 19.11 Evaluated at bid price : 19.11 Bid-YTW : 6.68 % |
BAM.PR.K | Floater | 5.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 13.51 Evaluated at bid price : 13.51 Bid-YTW : 4.19 % |
Volume Highlights | |||
Issue | Index | Shares Traded |
Notes |
MIC.PR.A | Perpetual-Discount | 150,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 21.27 Evaluated at bid price : 21.56 Bid-YTW : 6.36 % |
TD.PF.K | FixedReset Disc | 40,680 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 22.91 Evaluated at bid price : 23.35 Bid-YTW : 5.75 % |
CU.PR.J | Perpetual-Discount | 38,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 20.40 Evaluated at bid price : 20.40 Bid-YTW : 5.85 % |
CU.PR.I | FixedReset Prem | 38,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-01 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 4.23 % |
BMO.PR.D | FixedReset Disc | 26,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 24.11 Evaluated at bid price : 24.87 Bid-YTW : 6.01 % |
BAM.PF.A | FixedReset Disc | 24,974 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-20 Maturity Price : 22.54 Evaluated at bid price : 22.97 Bid-YTW : 6.24 % |
There were 2 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: 20.40 – 23.52 Spot Rate : 3.1200 Average : 2.4190 YTW SCENARIO |
ELF.PR.F | Perpetual-Discount | Quote: 22.41 – 24.00 Spot Rate : 1.5900 Average : 1.0018 YTW SCENARIO |
MFC.PR.C | Insurance Straight | Quote: 20.30 – 21.70 Spot Rate : 1.4000 Average : 0.9660 YTW SCENARIO |
BAM.PR.T | FixedReset Disc | Quote: 18.54 – 20.49 Spot Rate : 1.9500 Average : 1.5350 YTW SCENARIO |
TD.PF.E | FixedReset Disc | Quote: 21.90 – 23.23 Spot Rate : 1.3300 Average : 0.9232 YTW SCENARIO |
CU.PR.F | Perpetual-Discount | Quote: 20.18 – 22.75 Spot Rate : 2.5700 Average : 2.1645 YTW SCENARIO |
IAF.PR.G To Be Redeemed
Tuesday, May 17th, 2022Industrial Alliance Insurance and Financial Services Inc. has announced:
IAF.PR.G arose via ticker change from IAG.PR.G in January 2019. IAG.PR.G was issued as a FixedReset, 4.30%+285, that commenced trading 2012-6-1 after being announced 2012-5-24. Unusually, the issue was re-opened shortly afterwards. IAG.PR.G reset at 3.777% in 2017; I recommended against conversion; and there was no conversion, although getting official confirmation of this was like pulling teeth.
The issue has been tracked by HIMIPref™ and assigned to the FixedReset (Discount) subindex.
The redemption notice came as a surprise to the markets; the issue traded up $1.03 to 25.18, which isn’t a bad day’s work; its sister issue, IAF.PR.I, was up a similar amount; this follows similar jumps on the ENB.PR.U redemption announcement. The Straight Perpetual, IAF.PR.B, was up only about 1.10% today, though, so the market’s largesse was not indiscriminate!
Thanks to Assiduous Reader niagara for bringing this to my attention!
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