TD continues to have problems:
Clearly TD Canada has sent a message to us that customer service is not a priority and is STILL not prepared to handle the growing volume of Traders out there. And so, I have begun the transfer of my funds from my Webbroker to another platform. This should be completed within the week. I have decided on Qtrade. And I will in the next while prepare for a complete withdraw of all of my money into another bank or credit union. This will need some thoughtful consideration.
I understand that Banks, like any other business, want to keep their shareholders happy. However, a complete disregard of us, the customer, this past week is quite remarkable. With the billions that this company made in its last quarter, my loss of business will not affect them at all. But I know that I am going to feel much better knowing that TD Canada will never again disrespect me this way again. Shame!
Qtrade…you’re up.
Click for Big
The preferred share market continued to show good strength today, probably in response to continued chatter about a policy hike:
On Monday, Bank of Montreal became the last major Canadian bank to change its forecast for next week to a rate hike. That followed the release of the central bank’s latest quarterly survey, which showed a generally robust outlook for the country’s sales and businesses investment.
… and five-year Canadas now yield 1.97%!
| 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 | 3.2307 % | 2,781.2 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 3.2307 % | 5,103.3 |
| Floater | 3.31 % | 3.46 % | 34,230 | 18.64 | 4 | 3.2307 % | 2,941.1 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4229 % | 3,143.8 |
| SplitShare | 4.67 % | 4.10 % | 60,721 | 3.42 | 5 | 0.4229 % | 3,754.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4229 % | 2,929.3 |
| Perpetual-Premium | 5.34 % | -2.57 % | 62,932 | 0.09 | 18 | 0.0174 % | 2,860.9 |
| Perpetual-Discount | 5.24 % | 5.24 % | 66,885 | 14.95 | 16 | 0.0133 % | 3,019.1 |
| FixedReset | 4.18 % | 4.23 % | 140,258 | 3.93 | 98 | 0.4438 % | 2,539.4 |
| Deemed-Retractible | 5.04 % | 5.33 % | 81,876 | 5.87 | 28 | -0.0927 % | 2,959.2 |
| FloatingReset | 2.98 % | 2.61 % | 38,851 | 0.79 | 10 | 0.4433 % | 2,745.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| SLF.PR.I | FixedReset | 1.05 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-12-31 Maturity Price : 25.00 Evaluated at bid price : 24.91 Bid-YTW : 3.95 % |
| BIP.PR.A | FixedReset | 1.08 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2020-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.37 Bid-YTW : 3.93 % |
| NA.PR.S | FixedReset | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 23.72 Evaluated at bid price : 24.15 Bid-YTW : 4.49 % |
| IFC.PR.A | FixedReset | 1.21 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.88 Bid-YTW : 6.46 % |
| TD.PF.A | FixedReset | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 23.92 Evaluated at bid price : 24.25 Bid-YTW : 4.37 % |
| TRP.PR.E | FixedReset | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 23.60 Evaluated at bid price : 23.95 Bid-YTW : 4.50 % |
| NA.PR.W | FixedReset | 1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 23.41 Evaluated at bid price : 23.73 Bid-YTW : 4.40 % |
| MFC.PR.K | FixedReset | 1.30 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.30 Bid-YTW : 5.40 % |
| TRP.PR.F | FloatingReset | 1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 19.94 Evaluated at bid price : 19.94 Bid-YTW : 3.82 % |
| TRP.PR.A | FixedReset | 1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 4.69 % |
| TRP.PR.C | FixedReset | 1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 17.76 Evaluated at bid price : 17.76 Bid-YTW : 4.68 % |
| HSE.PR.C | FixedReset | 1.54 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2019-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.08 Bid-YTW : 4.41 % |
| TRP.PR.D | FixedReset | 1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 23.02 Evaluated at bid price : 23.49 Bid-YTW : 4.59 % |
| BAM.PR.K | Floater | 1.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 16.05 Evaluated at bid price : 16.05 Bid-YTW : 3.51 % |
| MFC.PR.L | FixedReset | 1.96 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.40 Bid-YTW : 5.25 % |
| SLF.PR.H | FixedReset | 2.04 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.97 Bid-YTW : 5.56 % |
| PVS.PR.E | SplitShare | 2.06 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2018-02-07 Maturity Price : 26.00 Evaluated at bid price : 26.80 Bid-YTW : -24.40 % |
| TRP.PR.B | FixedReset | 2.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 16.75 Evaluated at bid price : 16.75 Bid-YTW : 4.68 % |
| HSE.PR.A | FixedReset | 2.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 18.24 Evaluated at bid price : 18.24 Bid-YTW : 4.81 % |
| SLF.PR.J | FloatingReset | 2.67 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.20 Bid-YTW : 6.70 % |
| BAM.PR.B | Floater | 3.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 16.26 Evaluated at bid price : 16.26 Bid-YTW : 3.46 % |
| PWF.PR.P | FixedReset | 3.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 18.93 Evaluated at bid price : 18.93 Bid-YTW : 4.51 % |
| BAM.PR.C | Floater | 3.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 16.27 Evaluated at bid price : 16.27 Bid-YTW : 3.46 % |
| PWF.PR.A | Floater | 4.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 19.16 Evaluated at bid price : 19.16 Bid-YTW : 2.95 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PR.Y | FixedReset | 110,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2018-10-31 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 3.41 % |
| RY.PR.Z | FixedReset | 108,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 23.54 Evaluated at bid price : 23.98 Bid-YTW : 4.38 % |
| TRP.PR.B | FixedReset | 108,100 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 16.75 Evaluated at bid price : 16.75 Bid-YTW : 4.68 % |
| NA.PR.W | FixedReset | 104,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-01-08 Maturity Price : 23.41 Evaluated at bid price : 23.73 Bid-YTW : 4.40 % |
| SLF.PR.H | FixedReset | 103,200 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.97 Bid-YTW : 5.56 % |
| BNS.PR.D | FloatingReset | 80,500 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.65 Bid-YTW : 3.52 % |
| There were 38 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 | Quote: 23.56 – 24.33 Spot Rate : 0.7700 Average : 0.4790 YTW SCENARIO |
| MFC.PR.F | FixedReset | Quote: 18.41 – 18.97 Spot Rate : 0.5600 Average : 0.3460 YTW SCENARIO |
| BAM.PR.X | FixedReset | Quote: 17.89 – 18.40 Spot Rate : 0.5100 Average : 0.3174 YTW SCENARIO |
| TRP.PR.H | FloatingReset | Quote: 16.31 – 16.95 Spot Rate : 0.6400 Average : 0.4619 YTW SCENARIO |
| TRP.PR.G | FixedReset | Quote: 24.30 – 24.84 Spot Rate : 0.5400 Average : 0.3737 YTW SCENARIO |
| HSE.PR.G | FixedReset | Quote: 25.03 – 25.48 Spot Rate : 0.4500 Average : 0.3074 YTW SCENARIO |