This kind of mortgage would make even Toronto real estate look attractive!
Denmark’s Jyske Bank offers a minus 0.5 per cent interest mortgage while still making a profit. Customers must make monthly principal payments, but the sum they owe is whittled down month by month by the negative rate over the life of the mortgage. The bank is able to fund the mortgage by selling a bond at minus 0.5 per cent, passing the rate to the customer, and making money on modest mortgage fees.
British Columbia’s top income earners will face higher taxes under Finance Minister Carole James’s budget, which maintains an operational surplus just as the pace of the province’s economic growth begins to slow.
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The new top marginal tax rate rises to 20.5 per cent from 16.8 per cent, for those with a personal net income of more than $220,000. The change will generate an additional $216-million in revenue annually. The NDP raised the rate from 14.8 per cent in 2017.
When Ernst & Young update their personal tax calculators I’ll update my BC Marginal Tax Rates.
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 | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3432 % | 2,069.8 |
FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3432 % | 3,798.0 |
Floater | 5.91 % | 6.11 % | 53,915 | 13.67 | 4 | 0.3432 % | 2,188.8 |
OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1615 % | 3,483.9 |
SplitShare | 4.72 % | 3.99 % | 40,329 | 3.66 | 6 | 0.1615 % | 4,160.5 |
Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1615 % | 3,246.2 |
Perpetual-Premium | 5.56 % | 1.12 % | 56,803 | 0.09 | 11 | 0.0644 % | 3,073.6 |
Perpetual-Discount | 5.16 % | 5.18 % | 67,478 | 14.97 | 24 | 0.3569 % | 3,383.2 |
FixedReset Disc | 5.50 % | 5.42 % | 195,303 | 14.74 | 65 | -0.1300 % | 2,181.1 |
Deemed-Retractible | 5.08 % | 5.18 % | 72,285 | 14.93 | 27 | 0.0923 % | 3,288.7 |
FloatingReset | 6.01 % | 6.07 % | 57,287 | 13.79 | 3 | 0.2194 % | 2,548.1 |
FixedReset Prem | 5.08 % | 3.46 % | 138,466 | 1.43 | 22 | -0.1081 % | 2,659.7 |
FixedReset Bank Non | 1.93 % | 3.26 % | 73,095 | 1.90 | 3 | -0.0136 % | 2,755.4 |
FixedReset Ins Non | 5.34 % | 5.45 % | 104,495 | 14.57 | 22 | -0.2558 % | 2,195.9 |
Performance Highlights | |||
Issue | Index | Change | Notes |
PWF.PR.P | FixedReset Disc | -1.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 13.31 Evaluated at bid price : 13.31 Bid-YTW : 5.59 % |
MFC.PR.L | FixedReset Ins Non | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 16.58 Evaluated at bid price : 16.58 Bid-YTW : 5.53 % |
BAM.PR.T | FixedReset Disc | -1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 6.00 % |
BIP.PR.D | FixedReset Disc | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 22.74 Evaluated at bid price : 23.05 Bid-YTW : 5.65 % |
MFC.PR.K | FixedReset Ins Non | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 17.92 Evaluated at bid price : 17.92 Bid-YTW : 5.36 % |
MFC.PR.H | FixedReset Ins Non | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 5.50 % |
W.PR.M | FixedReset Prem | -1.04 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-10-15 Maturity Price : 25.00 Evaluated at bid price : 25.75 Bid-YTW : 3.65 % |
BAM.PF.G | FixedReset Disc | -1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 18.21 Evaluated at bid price : 18.21 Bid-YTW : 5.90 % |
BAM.PR.K | Floater | 1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 11.49 Evaluated at bid price : 11.49 Bid-YTW : 6.11 % |
EMA.PR.E | Perpetual-Discount | 1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 22.17 Evaluated at bid price : 22.50 Bid-YTW : 5.00 % |
CU.PR.F | Perpetual-Discount | 1.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 22.08 Evaluated at bid price : 22.34 Bid-YTW : 5.04 % |
Volume Highlights | |||
Issue | Index | Shares Traded |
Notes |
IFC.PR.I | Perpetual-Premium | 743,673 | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.21 Bid-YTW : 5.32 % |
TD.PF.L | FixedReset Disc | 55,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 22.79 Evaluated at bid price : 23.90 Bid-YTW : 4.98 % |
CU.PR.G | Perpetual-Discount | 29,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 22.00 Evaluated at bid price : 22.27 Bid-YTW : 5.05 % |
BIP.PR.D | FixedReset Disc | 27,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 22.74 Evaluated at bid price : 23.05 Bid-YTW : 5.65 % |
RY.PR.Z | FixedReset Disc | 25,502 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 17.55 Evaluated at bid price : 17.55 Bid-YTW : 5.18 % |
CM.PR.Q | FixedReset Disc | 22,801 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-02-18 Maturity Price : 19.15 Evaluated at bid price : 19.15 Bid-YTW : 5.47 % |
There were 16 other index-included issues trading in excess of 10,000 shares. |
Wide Spread Highlights | ||
Issue | Index | Quote Data and Yield Notes |
SLF.PR.A | Deemed-Retractible | Quote: 23.11 – 23.46 Spot Rate : 0.3500 Average : 0.2466 YTW SCENARIO |
EMA.PR.H | FixedReset Prem | Quote: 25.08 – 25.38 Spot Rate : 0.3000 Average : 0.2124 YTW SCENARIO |
TRP.PR.G | FixedReset Disc | Quote: 18.70 – 18.94 Spot Rate : 0.2400 Average : 0.1645 YTW SCENARIO |
BNS.PR.I | FixedReset Disc | Quote: 20.11 – 20.39 Spot Rate : 0.2800 Average : 0.2113 YTW SCENARIO |
GWO.PR.Q | Deemed-Retractible | Quote: 24.70 – 24.93 Spot Rate : 0.2300 Average : 0.1619 YTW SCENARIO |
MFC.PR.Q | FixedReset Ins Non | Quote: 19.34 – 19.55 Spot Rate : 0.2100 Average : 0.1432 YTW SCENARIO |