So in Ontario we continue along the Pathway of Doom in today’s election. There have been a lot of complaints about the available choices – but consider this! The next government will have to try very hard to be worse than the outgoing one!
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 | -0.1113 % | 2,974.4 |
FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1113 % | 5,457.9 |
Floater | 3.36 % | 3.61 % | 70,342 | 18.19 | 4 | -0.1113 % | 3,145.4 |
OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1194 % | 3,170.1 |
SplitShare | 4.63 % | 4.64 % | 78,688 | 5.02 | 5 | -0.1194 % | 3,785.8 |
Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1194 % | 2,953.8 |
Perpetual-Premium | 5.64 % | -3.78 % | 65,613 | 0.09 | 9 | -0.0960 % | 2,869.9 |
Perpetual-Discount | 5.41 % | 5.53 % | 61,107 | 14.55 | 26 | 0.0116 % | 2,940.8 |
FixedReset | 4.31 % | 4.72 % | 151,955 | 5.68 | 105 | -0.1034 % | 2,533.5 |
Deemed-Retractible | 5.19 % | 5.78 % | 69,311 | 5.57 | 27 | -0.0189 % | 2,940.2 |
FloatingReset | 3.05 % | 3.70 % | 36,058 | 3.47 | 9 | -0.0550 % | 2,790.0 |
Performance Highlights | |||
Issue | Index | Change | Notes |
PWF.PR.P | FixedReset | -2.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-06-07 Maturity Price : 19.13 Evaluated at bid price : 19.13 Bid-YTW : 4.63 % |
TRP.PR.G | FixedReset | -1.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-06-07 Maturity Price : 22.88 Evaluated at bid price : 23.64 Bid-YTW : 5.19 % |
TRP.PR.E | FixedReset | -1.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-06-07 Maturity Price : 21.94 Evaluated at bid price : 22.51 Bid-YTW : 4.98 % |
TRP.PR.C | FixedReset | -1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-06-07 Maturity Price : 17.52 Evaluated at bid price : 17.52 Bid-YTW : 5.00 % |
MFC.PR.M | FixedReset | -1.08 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.85 Bid-YTW : 5.94 % |
BAM.PF.C | Perpetual-Discount | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-06-07 Maturity Price : 21.54 Evaluated at bid price : 21.54 Bid-YTW : 5.74 % |
GWO.PR.N | FixedReset | 1.41 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.36 Bid-YTW : 7.19 % |
Volume Highlights | |||
Issue | Index | Shares Traded |
Notes |
IFC.PR.G | FixedReset | 140,862 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.68 Bid-YTW : 5.14 % |
BNS.PR.R | FixedReset | 65,300 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.07 Bid-YTW : 4.05 % |
CM.PR.S | FixedReset | 62,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-06-07 Maturity Price : 22.84 Evaluated at bid price : 24.08 Bid-YTW : 4.71 % |
RY.PR.R | FixedReset | 48,860 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-08-24 Maturity Price : 25.00 Evaluated at bid price : 26.50 Bid-YTW : 3.60 % |
MFC.PR.M | FixedReset | 36,280 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.85 Bid-YTW : 5.94 % |
NA.PR.X | FixedReset | 36,198 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-05-15 Maturity Price : 25.00 Evaluated at bid price : 26.22 Bid-YTW : 3.97 % |
There were 19 other index-included issues trading in excess of 10,000 shares. |
Wide Spread Highlights | ||
Issue | Index | Quote Data and Yield Notes |
TRP.PR.B | FixedReset | Quote: 16.50 – 17.25 Spot Rate : 0.7500 Average : 0.5248 YTW SCENARIO |
TRP.PR.E | FixedReset | Quote: 22.51 – 23.20 Spot Rate : 0.6900 Average : 0.4890 YTW SCENARIO |
TRP.PR.C | FixedReset | Quote: 17.52 – 17.96 Spot Rate : 0.4400 Average : 0.2501 YTW SCENARIO |
PWF.PR.P | FixedReset | Quote: 19.13 – 19.61 Spot Rate : 0.4800 Average : 0.2907 YTW SCENARIO |
TRP.PR.G | FixedReset | Quote: 23.64 – 24.12 Spot Rate : 0.4800 Average : 0.3303 YTW SCENARIO |
BAM.PR.R | FixedReset | Quote: 20.45 – 20.85 Spot Rate : 0.4000 Average : 0.2599 YTW SCENARIO |
DFN.PR.A To Get Bigger
June 7th, 2018Quadravest has announced:
Given that the NAVPU as of May 31 was 18.06, assigning a $10.00 value to the preferreds and calculating a value of 9.87 to the DFN Capital Units based on today’s close of BCE and TRP, we can estimate that the premium to NAV on this offer is somewhere close to 10%. Wow!
Update, 2018-6-18: They raised $30-million:
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