… and now it’s time for PrefLetter!
| 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 | 0.8530 % | 3,151.7 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.8530 % | 5,783.2 |
| Floater | 3.42 % | 3.64 % | 68,786 | 18.23 | 4 | 0.8530 % | 3,332.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2768 % | 3,186.5 |
| SplitShare | 4.61 % | 4.54 % | 61,528 | 4.92 | 5 | -0.2768 % | 3,805.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2768 % | 2,969.1 |
| Perpetual-Premium | 5.64 % | -15.44 % | 60,963 | 0.09 | 9 | -0.0044 % | 2,906.1 |
| Perpetual-Discount | 5.38 % | 5.48 % | 54,569 | 14.69 | 26 | 0.1035 % | 2,985.8 |
| FixedReset | 4.30 % | 4.58 % | 132,763 | 4.17 | 106 | 0.0813 % | 2,560.5 |
| Deemed-Retractible | 5.14 % | 5.93 % | 64,706 | 5.48 | 27 | 0.1828 % | 2,970.6 |
| FloatingReset | 3.28 % | 3.73 % | 32,884 | 3.38 | 9 | 0.0691 % | 2,840.3 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| MFC.PR.M | FixedReset | -1.09 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.50 Bid-YTW : 5.47 % |
| BAM.PF.E | FixedReset | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 23.30 Evaluated at bid price : 23.68 Bid-YTW : 4.85 % |
| BAM.PR.B | Floater | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 17.89 Evaluated at bid price : 17.89 Bid-YTW : 3.64 % |
| BAM.PR.C | Floater | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 17.90 Evaluated at bid price : 17.90 Bid-YTW : 3.64 % |
| IFC.PR.A | FixedReset | 1.79 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.85 Bid-YTW : 7.60 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| RY.PR.W | Perpetual-Discount | 222,825 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 24.49 Evaluated at bid price : 24.72 Bid-YTW : 5.02 % |
| BMO.PR.W | FixedReset | 50,591 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 22.68 Evaluated at bid price : 23.12 Bid-YTW : 4.61 % |
| BAM.PF.F | FixedReset | 28,494 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 24.54 Evaluated at bid price : 24.86 Bid-YTW : 4.93 % |
| RY.PR.H | FixedReset | 27,568 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 23.23 Evaluated at bid price : 23.75 Bid-YTW : 4.54 % |
| NA.PR.G | FixedReset | 21,207 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-13 Maturity Price : 23.21 Evaluated at bid price : 25.20 Bid-YTW : 4.75 % |
| EMA.PR.H | FixedReset | 19,036 | YTW SCENARIO Maturity Type : Call Maturity Date : 2023-08-15 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 4.48 % |
| There were 14 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BAM.PF.I | FixedReset | Quote: 26.00 – 27.00 Spot Rate : 1.0000 Average : 0.5836 YTW SCENARIO |
| MFC.PR.F | FixedReset | Quote: 19.30 – 19.97 Spot Rate : 0.6700 Average : 0.4196 YTW SCENARIO |
| RY.PR.N | Perpetual-Discount | Quote: 24.99 – 25.52 Spot Rate : 0.5300 Average : 0.3249 YTW SCENARIO |
| BAM.PF.H | FixedReset | Quote: 25.89 – 26.33 Spot Rate : 0.4400 Average : 0.2641 YTW SCENARIO |
| TRP.PR.F | FloatingReset | Quote: 20.65 – 21.00 Spot Rate : 0.3500 Average : 0.2178 YTW SCENARIO |
| PVS.PR.F | SplitShare | Quote: 25.50 – 26.00 Spot Rate : 0.5000 Average : 0.4037 YTW SCENARIO |