Some people think the world might not end after all:
U.S. equities surged back from the biggest weekly rout in two years, with major benchmarks climbing more than 2.7 percent on signs that an escalation of trade tensions was beginning to ease.
…
The optimism toward U.S. stocks emerged after the limits of the Trump administration’s willingness to embrace protectionism came into view over the weekend. Treasury Secretary Steven Mnuchin told Fox News that he’s “cautiously hopeful” that China will reach a deal to avoid tariffs on $50 billion of U.S. exports, while European leaders demanded a permanent exclusion at the threat of retaliation and a deal was struck with South Korea.
…
The yield on 10-year Treasuries climbed four basis points to 2.85 percent.
| 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 | 0.7296 % | 3,025.6 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.7296 % | 5,551.8 |
| Floater | 3.30 % | 3.46 % | 101,188 | 18.61 | 4 | 0.7296 % | 3,199.6 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0000 % | 3,167.6 |
| SplitShare | 4.69 % | 4.16 % | 58,167 | 3.25 | 5 | 0.0000 % | 3,782.8 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0000 % | 2,951.5 |
| Perpetual-Premium | 5.63 % | 5.11 % | 79,561 | 0.74 | 11 | -0.1043 % | 2,834.5 |
| Perpetual-Discount | 5.39 % | 5.52 % | 82,186 | 14.60 | 23 | -0.4377 % | 2,913.7 |
| FixedReset | 4.30 % | 4.68 % | 175,779 | 5.83 | 104 | 0.0904 % | 2,504.7 |
| Deemed-Retractible | 5.21 % | 5.84 % | 90,486 | 5.70 | 28 | -0.1383 % | 2,900.5 |
| FloatingReset | 2.95 % | 3.08 % | 35,279 | 3.63 | 10 | 0.1064 % | 2,757.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.M | Perpetual-Discount | -1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 20.64 Evaluated at bid price : 20.64 Bid-YTW : 5.79 % |
| BAM.PF.C | Perpetual-Discount | -1.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 5.77 % |
| BAM.PF.D | Perpetual-Discount | -1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 5.77 % |
| BAM.PR.N | Perpetual-Discount | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 20.71 Evaluated at bid price : 20.71 Bid-YTW : 5.77 % |
| PWF.PR.E | Perpetual-Discount | -1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 24.50 Evaluated at bid price : 24.75 Bid-YTW : 5.64 % |
| NA.PR.E | FixedReset | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 23.04 Evaluated at bid price : 24.68 Bid-YTW : 4.66 % |
| TD.PF.B | FixedReset | 1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 22.67 Evaluated at bid price : 23.12 Bid-YTW : 4.68 % |
| PWF.PR.A | Floater | 1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 2.89 % |
| MFC.PR.G | FixedReset | 1.46 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-12-19 Maturity Price : 25.00 Evaluated at bid price : 24.31 Bid-YTW : 4.75 % |
| TRP.PR.C | FixedReset | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 4.80 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BNS.PR.A | FloatingReset | 417,442 | YTW SCENARIO Maturity Type : Call Maturity Date : 2018-04-25 Maturity Price : 25.00 Evaluated at bid price : 25.13 Bid-YTW : -6.22 % |
| W.PR.M | FixedReset | 51,112 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-10-15 Maturity Price : 25.00 Evaluated at bid price : 25.82 Bid-YTW : 4.53 % |
| TD.PF.J | FixedReset | 37,250 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 23.18 Evaluated at bid price : 25.09 Bid-YTW : 4.64 % |
| TD.PF.D | FixedReset | 30,524 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 23.20 Evaluated at bid price : 24.25 Bid-YTW : 4.83 % |
| CM.PR.R | FixedReset | 27,366 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-07-31 Maturity Price : 25.00 Evaluated at bid price : 25.22 Bid-YTW : 4.37 % |
| BMO.PR.S | FixedReset | 25,986 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-03-26 Maturity Price : 23.06 Evaluated at bid price : 23.57 Bid-YTW : 4.65 % |
| There were 25 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| TRP.PR.F | FloatingReset | Quote: 20.18 – 21.70 Spot Rate : 1.5200 Average : 0.9710 YTW SCENARIO |
| EIT.PR.A | SplitShare | Quote: 25.55 – 26.55 Spot Rate : 1.0000 Average : 0.6456 YTW SCENARIO |
| BAM.PF.E | FixedReset | Quote: 22.90 – 23.45 Spot Rate : 0.5500 Average : 0.4115 YTW SCENARIO |
| IFC.PR.E | Deemed-Retractible | Quote: 24.31 – 24.75 Spot Rate : 0.4400 Average : 0.3034 YTW SCENARIO |
| BMO.PR.Q | FixedReset | Quote: 22.25 – 22.60 Spot Rate : 0.3500 Average : 0.2171 YTW SCENARIO |
| TRP.PR.K | FixedReset | Quote: 25.55 – 25.85 Spot Rate : 0.3000 Average : 0.1801 YTW SCENARIO |