December 7, 2015

Oil got whacked today:

Oil fell to the lowest level in more than six years amid speculation that a record global glut will be prolonged after OPEC effectively abandoned its longtime strategy of limiting output to control prices.

West Texas Intermediate for January delivery sank $2.32, or 5.8 percent, to settle at $37.65 a barrel on the New York Mercantile Exchange, the lowest close since February 2009. The volume of all futures traded was 63 percent above the 100-day average at 2:40 p.m.

Tumbling oil helped spur a rout in energy stocks, which were the worst performers on the Standard & Poor’s 500 Index. Williams Cos., a pipeline company, dropped 17 percent, making it the worst performer on the S&P 500 Monday. Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, fell 2.9 percent and 2.6 percent, respectively. The pain wasn’t limited to the U.S., as BP Plc slipped 3.4 percent and Royal Dutch Shell Plc decreased 4.2 percent.

Other places, too!

Oil’s struggles mean more suffering for the Canadian dollar. It fell .84 of a cent to 74 cents (U.S.) on Monday, its lowest since June of 2004. Energy products represented roughly a quarter of Canada’s exports last year, and oil’s slump has been the key factor in the loonie’s 21-per-cent nosedive against its U.S. counterpart since the middle of 2014.

The Toronto Stock Exchange’s oil and gas index tumbled 6 per cent, the main factor in a 2.4-per-cent slide in the S&P/TSX composite index. Energy stocks make up nearly a fifth of the composite index. Companies with the highest debt levels and focus on oil took the biggest hits. Penn West Petroleum Ltd. sank nearly18 per cent, and Baytex Energy Corp. fell 17 per cent.

Things may seem bleak, but take heart! There’s some more drone news today:

The ranks of older and frail adults are growing rapidly in the developed world, raising alarms about how society is going to help them take care of themselves in their own homes.

Naira Hovakimyan has an idea: drones.

The University of Illinois roboticist recently received a $1.5 million grant from the National Science Foundation to explore the idea of designing small autonomous drones to perform simple household chores, like retrieving a bottle of medicine from another room. Dr. Hovakimyan acknowledged that the idea might seem off-putting to many, but she believes that drones not only will be safe, but will become an everyday fixture in elder care within a decade or two.

And for preferred share investors …

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Click for Big

It was a horrible day for the Canadian preferred share market, with PerpetualDiscounts losing 124bp, FixedResets down 99bp and DeemedRetractibles off 9bp. Let’s just not talk about the Performance Highlights table, OK? Volume was very, very extremely much huge, enlivened by a stack of after-hours contingent crosses by Nesbitt.

For those keeping score, TXPR is now down about 4.12% on the month to date and is now down to October 19 levels – about 4.23% above the low of October 14.

TXPL is down about 5.33% on the month to date and is also down to October 19 levels – about 4.52% above the October 14 low.

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 5.04 % 6.12 % 35,311 16.51 1 -9.0909 % 1,540.9
FixedFloater 6.86 % 6.07 % 31,670 16.18 1 -4.6143 % 2,845.1
Floater 4.30 % 4.50 % 74,465 16.34 4 -1.2573 % 1,761.9
OpRet 4.86 % 4.02 % 29,400 0.72 1 -0.0397 % 2,736.5
SplitShare 4.80 % 5.50 % 85,917 2.87 6 -0.1839 % 3,212.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1839 % 2,506.4
Perpetual-Premium 5.81 % 5.84 % 88,033 14.00 7 -0.3412 % 2,493.2
Perpetual-Discount 5.73 % 5.81 % 99,680 14.15 33 -1.2382 % 2,498.5
FixedReset 5.28 % 4.85 % 232,665 14.77 77 -0.9915 % 1,951.0
Deemed-Retractible 5.25 % 5.34 % 130,657 5.34 33 -0.0855 % 2,552.0
FloatingReset 2.75 % 3.95 % 62,476 5.71 11 -0.5768 % 2,140.0
Performance Highlights
Issue Index Change Notes
BAM.PR.E Ratchet -9.09 % Sort-of reasonable, as the issue traded 4,600 shares in a range of 13.35-14.50 before closing at 13.50-14.59, 3×5. There were only five trades after 2:30pm, totaling 1400 shares, commencing with a trade at 14.10 and sporadically declining to 13.35. The VWAP was 14.21. I have not checked whether this lamentable state of affairs is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 25.00
Evaluated at bid price : 13.50
Bid-YTW : 6.12 %
MFC.PR.L FixedReset -6.65 % Not entirely unreasonable, since the issue traded 18,101 shares in a range of 17.40-18.64 before closing at 17.42-74, 3×1. VWAP was 17.96.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.42
Bid-YTW : 8.23 %
ELF.PR.H Perpetual-Discount -6.26 % Ridiculous, as the issue traded 6,528 shares in a range of 23.25-97 before closing at 22.03-00, 5×3. VWAP was 23.47. I have not checked whether this lamentable state of affairs is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 21.74
Evaluated at bid price : 22.03
Bid-YTW : 6.34 %
HSE.PR.C FixedReset -5.79 % Entirely reasonable, as the issue traded 19,063 shares in a range of 18.57-19.86 before closing at 18.70-26, 1×1. VWAP was 19.17; There were quite a few trades below the closing bid after 3:30pm.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 5.54 %
BAM.PR.G FixedFloater -4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 25.00
Evaluated at bid price : 13.85
Bid-YTW : 6.07 %
SLF.PR.I FixedReset -4.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.30
Bid-YTW : 7.12 %
TRP.PR.G FixedReset -4.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 5.17 %
MFC.PR.N FixedReset -3.94 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.54
Bid-YTW : 7.48 %
MFC.PR.M FixedReset -3.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.60
Bid-YTW : 7.51 %
IFC.PR.A FixedReset -3.77 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 15.06
Bid-YTW : 9.94 %
ELF.PR.F Perpetual-Discount -3.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 21.91
Evaluated at bid price : 22.15
Bid-YTW : 6.07 %
HSE.PR.E FixedReset -2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 5.56 %
FTS.PR.M FixedReset -2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 4.90 %
CU.PR.H Perpetual-Discount -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 22.08
Evaluated at bid price : 22.41
Bid-YTW : 5.89 %
MFC.PR.I FixedReset -2.74 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.20
Bid-YTW : 6.75 %
VNR.PR.A FixedReset -2.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 5.32 %
TD.PF.E FixedReset -2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 20.69
Evaluated at bid price : 20.69
Bid-YTW : 4.58 %
TRP.PR.H FloatingReset -2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 10.00
Evaluated at bid price : 10.00
Bid-YTW : 4.27 %
SLF.PR.H FixedReset -2.49 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 16.43
Bid-YTW : 8.62 %
HSE.PR.G FixedReset -2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.37 %
MFC.PR.G FixedReset -2.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.10
Bid-YTW : 6.78 %
BAM.PR.N Perpetual-Discount -2.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.37
Evaluated at bid price : 19.37
Bid-YTW : 6.26 %
PWF.PR.A Floater -2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 12.25
Evaluated at bid price : 12.25
Bid-YTW : 3.88 %
IAG.PR.A Deemed-Retractible -1.98 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.75
Bid-YTW : 7.16 %
BAM.PF.C Perpetual-Discount -1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.68
Evaluated at bid price : 19.68
Bid-YTW : 6.29 %
BIP.PR.A FixedReset -1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.76
Evaluated at bid price : 19.76
Bid-YTW : 5.66 %
PWF.PR.R Perpetual-Discount -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 23.27
Evaluated at bid price : 23.70
Bid-YTW : 5.86 %
TRP.PR.E FixedReset -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 4.83 %
BAM.PR.X FixedReset -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 13.86
Evaluated at bid price : 13.86
Bid-YTW : 5.29 %
CU.PR.C FixedReset -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 4.80 %
MFC.PR.H FixedReset -1.76 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.23
Bid-YTW : 6.31 %
POW.PR.D Perpetual-Discount -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 21.56
Evaluated at bid price : 21.82
Bid-YTW : 5.81 %
FTS.PR.K FixedReset -1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 4.62 %
BAM.PR.M Perpetual-Discount -1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.47
Evaluated at bid price : 19.47
Bid-YTW : 6.23 %
BAM.PF.D Perpetual-Discount -1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 6.24 %
BAM.PR.C Floater -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 10.52
Evaluated at bid price : 10.52
Bid-YTW : 4.55 %
TRP.PR.B FixedReset -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 11.22
Evaluated at bid price : 11.22
Bid-YTW : 4.83 %
IFC.PR.C FixedReset -1.65 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 17.31
Bid-YTW : 8.72 %
CU.PR.D Perpetual-Discount -1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 21.31
Evaluated at bid price : 21.58
Bid-YTW : 5.71 %
FTS.PR.H FixedReset -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 13.54
Evaluated at bid price : 13.54
Bid-YTW : 4.42 %
SLF.PR.G FixedReset -1.58 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.36
Bid-YTW : 9.29 %
PWF.PR.L Perpetual-Discount -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 22.03
Evaluated at bid price : 22.26
Bid-YTW : 5.80 %
MFC.PR.F FixedReset -1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 14.46
Bid-YTW : 9.37 %
IAG.PR.G FixedReset -1.36 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.37
Bid-YTW : 6.56 %
HSE.PR.A FixedReset -1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 12.38
Evaluated at bid price : 12.38
Bid-YTW : 5.31 %
PWF.PR.E Perpetual-Discount -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 5.87 %
PWF.PR.F Perpetual-Discount -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 22.28
Evaluated at bid price : 22.55
Bid-YTW : 5.89 %
CM.PR.P FixedReset -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 17.40
Evaluated at bid price : 17.40
Bid-YTW : 4.77 %
TRP.PR.D FixedReset -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 4.98 %
SLF.PR.C Deemed-Retractible -1.20 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.69
Bid-YTW : 7.73 %
CU.PR.E Perpetual-Discount -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 21.55
Evaluated at bid price : 21.55
Bid-YTW : 5.73 %
W.PR.J Perpetual-Discount -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 23.56
Evaluated at bid price : 23.83
Bid-YTW : 5.96 %
BNS.PR.A FloatingReset -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.00
Bid-YTW : 3.92 %
BAM.PF.G FixedReset -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.53
Evaluated at bid price : 19.53
Bid-YTW : 5.13 %
SLF.PR.E Deemed-Retractible -1.04 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 19.89
Bid-YTW : 7.64 %
ENB.PR.A Perpetual-Discount -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 23.48
Evaluated at bid price : 23.75
Bid-YTW : 5.82 %
POW.PR.A Perpetual-Discount -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 23.74
Evaluated at bid price : 24.05
Bid-YTW : 5.91 %
BAM.PF.H FixedReset 1.07 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2020-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.57
Bid-YTW : 4.72 %
NA.PR.S FixedReset 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 17.93
Evaluated at bid price : 17.93
Bid-YTW : 4.85 %
MFC.PR.B Deemed-Retractible 1.67 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.72
Bid-YTW : 7.26 %
GWO.PR.N FixedReset 1.96 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 13.51
Bid-YTW : 9.97 %
TRP.PR.C FixedReset 2.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 12.30
Evaluated at bid price : 12.30
Bid-YTW : 5.01 %
GWO.PR.S Deemed-Retractible 5.16 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.26
Bid-YTW : 5.66 %
Volume Highlights
Issue Index Shares
Traded
Notes
BMO.PR.S FixedReset 313,635 Nesbitt crossed 293,800 at 18.82 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 4.52 %
MFC.PR.M FixedReset 292,516 Nesbitt crossed 274,100 at 18.60 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 18.60
Bid-YTW : 7.51 %
BAM.PF.G FixedReset 271,995 Nesbitt crossed 251,200 at 19.58 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.53
Evaluated at bid price : 19.53
Bid-YTW : 5.13 %
BAM.PF.F FixedReset 265,625 Nesbitt crossed 260,000 at 19.65 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.09 %
RY.PR.J FixedReset 255,232 Nesbitt crossed 228,400 at 19.83 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 4.62 %
FTS.PR.M FixedReset 203,405 Nesbitt crossed 184,800 at 18.40 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.12
Evaluated at bid price : 18.12
Bid-YTW : 4.90 %
BAM.PR.T FixedReset 185,974 Nesbitt crossed 166,400 at 15.43 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 15.30
Evaluated at bid price : 15.30
Bid-YTW : 5.51 %
POW.PR.G Perpetual-Premium 184,737 Nesbitt crossed 178,700 at 24.40 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 23.90
Evaluated at bid price : 24.39
Bid-YTW : 5.81 %
HSE.PR.E FixedReset 171,252 Nesbitt crossed 159,900 at 20.31 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 5.56 %
BAM.PR.N Perpetual-Discount 168,241 Nesbitt crossed 152,100 at 19.50 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.37
Evaluated at bid price : 19.37
Bid-YTW : 6.26 %
TRP.PR.D FixedReset 154,478 RBC crossed 14,100 at 17.55. Desjardins crossed 101,600 at 17.29.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 4.98 %
CU.PR.H Perpetual-Discount 150,827 Nesbitt crossed 141,600 at 22.41 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 22.08
Evaluated at bid price : 22.41
Bid-YTW : 5.89 %
RY.PR.P Perpetual-Discount 138,408 Nesbitt crossed 137,000 at 24.79 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 24.41
Evaluated at bid price : 24.79
Bid-YTW : 5.37 %
BNS.PR.M Deemed-Retractible 138,241 Nesbitt crossed 126,500 at 25.01 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.01
Bid-YTW : 4.60 %
BNS.PR.L Deemed-Retractible 135,762 Nesbitt crossed 127,900 at 25.02 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.01
Bid-YTW : 4.60 %
RY.PR.F Deemed-Retractible 124,132 RBC crossed 49,400 at 24.82. Nesbitt crossed 61,700 at 24.78 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.77
Bid-YTW : 4.68 %
BAM.PF.E FixedReset 117,469 Nesbitt crossed 102,700 at 18.74 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.37
Evaluated at bid price : 18.37
Bid-YTW : 5.10 %
TD.PF.F Perpetual-Discount 117,273 Nesbitt crossed 114,200 at 22.72 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 22.39
Evaluated at bid price : 22.69
Bid-YTW : 5.45 %
BAM.PR.Z FixedReset 116,350 Nesbitt crossed 89,700 at 19.72 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 19.56
Evaluated at bid price : 19.56
Bid-YTW : 5.17 %
GWO.PR.M Deemed-Retractible 114,826 Nesbitt crossed 106,200 at 25.20 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 5.67 %
TRP.PR.E FixedReset 112,153 Desjardins crossed 91,400 at 18.53.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.11
Evaluated at bid price : 18.11
Bid-YTW : 4.83 %
IGM.PR.B Perpetual-Premium 110,292 Nesbitt crossed 108,400 at 25.28 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 24.93
Evaluated at bid price : 25.28
Bid-YTW : 5.90 %
PWF.PR.G Perpetual-Premium 109,903 Nesbitt crossed 100,200 at 25.34 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-01-06
Maturity Price : 25.00
Evaluated at bid price : 25.30
Bid-YTW : -1.41 %
BMO.PR.Z Perpetual-Discount 109,414 Nesbitt crossed 102,700 at 23.85 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 23.48
Evaluated at bid price : 23.80
Bid-YTW : 5.28 %
SLF.PR.B Deemed-Retractible 108,170 Nesbitt crossed 99,500 at 21.21 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.12
Bid-YTW : 7.13 %
MFC.PR.B Deemed-Retractible 104,967 Nesbitt crossed 99,100 at 20.75 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.72
Bid-YTW : 7.26 %
PWF.PR.K Perpetual-Discount 104,603 Nesbitt crossed 101,100 at 21.87 after hours as a contingent cross.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 21.34
Evaluated at bid price : 21.61
Bid-YTW : 5.79 %
There were 68 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
VNR.PR.A FixedReset Quote: 18.01 – 19.00
Spot Rate : 0.9900
Average : 0.6495

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 5.32 %

ELF.PR.H Perpetual-Discount Quote: 22.03 – 23.00
Spot Rate : 0.9700
Average : 0.6410

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 21.74
Evaluated at bid price : 22.03
Bid-YTW : 6.34 %

HSE.PR.E FixedReset Quote: 20.15 – 20.98
Spot Rate : 0.8300
Average : 0.6028

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 5.56 %

TD.PF.E FixedReset Quote: 20.69 – 21.35
Spot Rate : 0.6600
Average : 0.4349

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 20.69
Evaluated at bid price : 20.69
Bid-YTW : 4.58 %

GWO.PR.M Deemed-Retractible Quote: 25.20 – 25.91
Spot Rate : 0.7100
Average : 0.5014

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : 5.67 %

BAM.PR.E Ratchet Quote: 13.50 – 14.59
Spot Rate : 1.0900
Average : 0.8896

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2045-12-07
Maturity Price : 25.00
Evaluated at bid price : 13.50
Bid-YTW : 6.12 %

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