A nice win for Toronto in the tech job sweepstakes:
Toronto has added the most technology jobs in the past five years and has the fourth-best tech talent market in Canada and the U.S., according to a new report released Tuesday.
The report by CBRE Group said Toronto added 82,100 technology-related jobs between 2012 and 2017 to beat out the San Francisco Bay Area for the spot by about 4,270 jobs.
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In terms of tech jobs added over the five year period to 2017, Montreal added 22,300, while Vancouver added 16,100 and Ottawa added 9,700.
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Ottawa had the highest concentration of tech talent of any of the 50 markets at 11.2% of all jobs, compared to 9.8% for San Francisco and 8.9% for Toronto.
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Ottawa also ranked highest in momentum of talent pools because of a 15.2% tech employment growth for a two-year stretch to the end of 2017, compared with a 10% drop for the two prior years.
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San Francisco ranked highest on average wages at more than US$125,000 a year, while Ottawa ranked as the highest Canadian city for wages at US$67,871.
PerpetualDiscounts now yield 5.50%, equivalent to 7.15% interest at the standard equivalency factor of 1.3x. Long corporates now yield about 3.95%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 320bp, a sharp narrowing from the 335bp reported July 18.
| 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 | 0.5253 % | 3,114.3 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.5253 % | 5,714.6 |
| Floater | 3.47 % | 3.69 % | 61,537 | 18.08 | 4 | 0.5253 % | 3,293.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0158 % | 3,200.4 |
| SplitShare | 4.59 % | 4.66 % | 55,863 | 4.89 | 5 | -0.0158 % | 3,822.0 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0158 % | 2,982.1 |
| Perpetual-Premium | 5.64 % | -12.26 % | 61,803 | 0.09 | 9 | -0.0183 % | 2,911.1 |
| Perpetual-Discount | 5.40 % | 5.50 % | 56,633 | 14.64 | 26 | -0.1676 % | 2,979.8 |
| FixedReset | 4.30 % | 4.62 % | 131,041 | 4.13 | 106 | -0.0494 % | 2,563.5 |
| Deemed-Retractible | 5.16 % | 6.06 % | 61,127 | 5.44 | 27 | -0.1220 % | 2,967.6 |
| FloatingReset | 3.27 % | 3.65 % | 32,693 | 3.35 | 9 | -0.0049 % | 2,831.9 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| CU.PR.C | FixedReset | -1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 22.14 Evaluated at bid price : 22.65 Bid-YTW : 4.75 % |
| RY.PR.N | Perpetual-Discount | -1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 23.87 Evaluated at bid price : 24.28 Bid-YTW : 5.02 % |
| TRP.PR.H | FloatingReset | -1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 4.03 % |
| TRP.PR.C | FixedReset | -1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 17.52 Evaluated at bid price : 17.52 Bid-YTW : 4.96 % |
| TRP.PR.E | FixedReset | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 21.84 Evaluated at bid price : 22.35 Bid-YTW : 4.96 % |
| BAM.PR.K | Floater | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 17.65 Evaluated at bid price : 17.65 Bid-YTW : 3.69 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.D | FixedReset | 158,269 | YTW SCENARIO Maturity Type : Call Maturity Date : 2020-07-31 Maturity Price : 25.00 Evaluated at bid price : 24.50 Bid-YTW : 4.64 % |
| TRP.PR.C | FixedReset | 76,743 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 17.52 Evaluated at bid price : 17.52 Bid-YTW : 4.96 % |
| TD.PF.C | FixedReset | 55,743 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 22.90 Evaluated at bid price : 23.32 Bid-YTW : 4.62 % |
| BAM.PR.T | FixedReset | 50,932 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 21.02 Evaluated at bid price : 21.02 Bid-YTW : 5.06 % |
| IFC.PR.A | FixedReset | 40,853 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.80 Bid-YTW : 7.70 % |
| TD.PF.B | FixedReset | 35,701 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-07-25 Maturity Price : 22.90 Evaluated at bid price : 23.45 Bid-YTW : 4.62 % |
| There were 17 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.G | FixedReset | Quote: 24.28 – 24.92 Spot Rate : 0.6400 Average : 0.3884 YTW SCENARIO |
| MFC.PR.H | FixedReset | Quote: 25.33 – 25.86 Spot Rate : 0.5300 Average : 0.3221 YTW SCENARIO |
| RY.PR.N | Perpetual-Discount | Quote: 24.28 – 24.80 Spot Rate : 0.5200 Average : 0.3572 YTW SCENARIO |
| TRP.PR.H | FloatingReset | Quote: 17.00 – 17.50 Spot Rate : 0.5000 Average : 0.3488 YTW SCENARIO |
| SLF.PR.H | FixedReset | Quote: 22.00 – 22.40 Spot Rate : 0.4000 Average : 0.2705 YTW SCENARIO |
| RY.PR.O | Perpetual-Discount | Quote: 24.68 – 25.00 Spot Rate : 0.3200 Average : 0.1940 YTW SCENARIO |
San Francisco ranked highest on average wages at more than US$125,000 a year, while Ottawa ranked as the highest Canadian city for wages at US$67,871
Sounds like them “Co-Ops” for little to no pay in Canada are working out just fine. That said, given the rental/housing costs in SFO, at 125k/year…just say’n they are probably on par for (not much) disposable income.
Rental and housing costs are indeed the flip side of all that money: San Francisco: Where a six-figure salary is ‘low income’:
Two bedrooms rent in Ottawa for nearly CAD 1,570 or about USD 1,200.