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Canada’s inflation rate rose for the first time in three months in October, bouncing back from its late-summer lull amid rising costs for automobiles and a rebound in airfares.
Meanwhile, new retail-sales figures showed a solid upturn in consumer demand at the end of the third quarter.
Statistics Canada reported on Friday that year-over-year inflation in the consumer price index was 2.4 per cent, after dipping to a four-month low of 2.2 per cent in September. It said CPI rose 0.3 per cent month over month, on both a seasonally adjusted and an unadjusted basis.
…
However, Statscan noted that the Bank of Canada’s three preferred measures of core inflation – designed to filter out short-term distortions and identify the broader trend across the economy – averaged 2.0 per cent in the month, little changed from September. All three core measures have been close to the central bank’s long-standing 2-per-cent inflation target for the past nine months, even as the overall inflation rate has swung wildly at times.
But oil got whacked:
Oil prices slumped up to nearly 8 per cent to the lowest in more than a year on Friday, posting the seventh consecutive weekly loss, amid intensifying fears of a supply glut even as major producers consider cutting output.
Oil supply, led by U.S. producers, is growing faster than demand and to prevent a buildup of unused fuel such as the one that emerged in 2015, the Organization of the Petroleum Exporting Countries is expected to start trimming output after a meeting on Dec. 6.
But this has done little so far to prop up prices, which have dropped more than 20 per cent so far in November, in a seven-week streak of losses. Prices were on course for their biggest one-month decline since late 2014.
… and the market got whacked again:
The bear market in oil globally combined with a persistent discount on Alberta crude has resulted in a powerful double negative for Canadian energy stocks. The S&P/TSX energy index slumped nearly 5 per cent Friday to levels not far off the depths of the 2014-to-2016 crash in oil prices.
…
Problems in Canada’s oil patch are rippling through to other companies with exposure to the sector. The S&P/TSX Composite Index is down by 7.4 per cent so far this year, reinforcing the sway the energy sector still holds over the Canadian market.
TXPR touched a new 52-week low of 644.06 before closing at 645.20, down 0.79%. Volume was about average in the context of the last thirty days.
CPD touched a new 52-week low of 12.90 before closing at 12.96, down 0.77%. Volume was on the high side in the context of the last thirty days, but not extraordinarily so.
ZPR touched a new 52-week low of 10.56 before closing at 10.61, down 0.66%. Again, volume was on the high side in the context of the last thirty days, but not extraordinarily so. The high-volume days were at the end of October.
| 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 | -2.5520 % | 2,679.7 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -2.5520 % | 4,917.1 |
| Floater | 4.34 % | 4.67 % | 38,448 | 16.04 | 4 | -2.5520 % | 2,833.8 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2697 % | 3,188.3 |
| SplitShare | 4.56 % | 5.04 % | 75,409 | 4.13 | 6 | -0.2697 % | 3,807.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2697 % | 2,970.8 |
| Perpetual-Premium | 5.93 % | 5.95 % | 49,456 | 13.92 | 3 | 0.1067 % | 2,864.6 |
| Perpetual-Discount | 5.72 % | 5.88 % | 74,250 | 14.05 | 31 | -0.3439 % | 2,864.4 |
| FixedReset Disc | 4.84 % | 5.61 % | 158,563 | 14.60 | 58 | -0.9809 % | 2,302.5 |
| Deemed-Retractible | 5.46 % | 7.45 % | 76,872 | 5.13 | 27 | -0.3629 % | 2,845.2 |
| FloatingReset | 4.04 % | 4.59 % | 36,688 | 5.32 | 6 | -0.0603 % | 2,596.1 |
| FixedReset Prem | 5.11 % | 4.77 % | 216,636 | 2.52 | 22 | -0.0090 % | 2,506.1 |
| FixedReset Bank Non | 2.98 % | 4.25 % | 121,172 | 2.96 | 6 | 0.0964 % | 2,568.2 |
| FixedReset Ins Non | 4.88 % | 7.72 % | 127,894 | 5.23 | 22 | -0.9199 % | 2,306.2 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| IFC.PR.G | FixedReset Ins Non | -3.95 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.62 Bid-YTW : 7.90 % |
| BAM.PR.X | FixedReset Disc | -3.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 15.93 Evaluated at bid price : 15.93 Bid-YTW : 6.05 % |
| BAM.PR.K | Floater | -3.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 14.80 Evaluated at bid price : 14.80 Bid-YTW : 4.73 % |
| BAM.PR.Z | FixedReset Disc | -3.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.52 Evaluated at bid price : 20.52 Bid-YTW : 6.33 % |
| MFC.PR.N | FixedReset Ins Non | -2.84 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.48 Bid-YTW : 9.16 % |
| BAM.PR.R | FixedReset Disc | -2.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 17.51 Evaluated at bid price : 17.51 Bid-YTW : 6.30 % |
| BAM.PR.B | Floater | -2.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 14.89 Evaluated at bid price : 14.89 Bid-YTW : 4.70 % |
| BAM.PR.C | Floater | -2.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 4.67 % |
| NA.PR.G | FixedReset Disc | -2.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 22.34 Evaluated at bid price : 23.11 Bid-YTW : 5.45 % |
| EMA.PR.H | FixedReset Disc | -2.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 22.40 Evaluated at bid price : 23.20 Bid-YTW : 5.27 % |
| MFC.PR.M | FixedReset Ins Non | -2.19 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.64 Bid-YTW : 9.13 % |
| PWF.PR.A | Floater | -2.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.08 Evaluated at bid price : 19.08 Bid-YTW : 3.64 % |
| HSE.PR.C | FixedReset Disc | -2.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.78 Evaluated at bid price : 20.78 Bid-YTW : 6.45 % |
| BAM.PF.G | FixedReset Disc | -1.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 6.11 % |
| BAM.PR.N | Perpetual-Discount | -1.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.12 Evaluated at bid price : 19.12 Bid-YTW : 6.33 % |
| HSE.PR.G | FixedReset Disc | -1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.55 Evaluated at bid price : 21.93 Bid-YTW : 6.49 % |
| SLF.PR.I | FixedReset Ins Non | -1.82 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.60 Bid-YTW : 7.31 % |
| TRP.PR.E | FixedReset Disc | -1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 6.16 % |
| BMO.PR.Y | FixedReset Disc | -1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.49 Evaluated at bid price : 21.85 Bid-YTW : 5.61 % |
| CM.PR.P | FixedReset Disc | -1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 5.59 % |
| GWO.PR.M | Deemed-Retractible | -1.59 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.80 Bid-YTW : 6.17 % |
| BAM.PF.F | FixedReset Disc | -1.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.17 Evaluated at bid price : 21.17 Bid-YTW : 6.16 % |
| MFC.PR.L | FixedReset Ins Non | -1.58 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.37 Bid-YTW : 9.27 % |
| SLF.PR.D | Deemed-Retractible | -1.57 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.45 Bid-YTW : 9.46 % |
| BIP.PR.F | FixedReset Disc | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 22.49 Evaluated at bid price : 23.40 Bid-YTW : 5.60 % |
| BMO.PR.T | FixedReset Disc | -1.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.54 % |
| CU.PR.G | Perpetual-Discount | -1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 5.88 % |
| BAM.PF.E | FixedReset Disc | -1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 6.10 % |
| MFC.PR.H | FixedReset Ins Non | -1.42 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.18 Bid-YTW : 7.72 % |
| CU.PR.E | Perpetual-Discount | -1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 5.87 % |
| GWO.PR.I | Deemed-Retractible | -1.41 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.64 Bid-YTW : 9.33 % |
| BAM.PF.A | FixedReset Disc | -1.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.46 Evaluated at bid price : 21.75 Bid-YTW : 6.02 % |
| BAM.PR.T | FixedReset Disc | -1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 17.66 Evaluated at bid price : 17.66 Bid-YTW : 6.27 % |
| CU.PR.F | Perpetual-Discount | -1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.32 Evaluated at bid price : 19.32 Bid-YTW : 5.86 % |
| TD.PF.B | FixedReset Disc | -1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.72 Evaluated at bid price : 20.72 Bid-YTW : 5.54 % |
| CU.PR.C | FixedReset Disc | -1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 5.71 % |
| SLF.PR.A | Deemed-Retractible | -1.26 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.34 Bid-YTW : 8.93 % |
| BAM.PF.B | FixedReset Disc | -1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.34 Evaluated at bid price : 20.34 Bid-YTW : 6.14 % |
| BMO.PR.S | FixedReset Disc | -1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 5.60 % |
| RY.PR.Z | FixedReset Disc | -1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.76 Evaluated at bid price : 20.76 Bid-YTW : 5.45 % |
| IAG.PR.I | FixedReset Ins Non | -1.22 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.65 Bid-YTW : 6.94 % |
| MFC.PR.I | FixedReset Ins Non | -1.21 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.30 Bid-YTW : 7.67 % |
| TRP.PR.G | FixedReset Disc | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 6.20 % |
| CM.PR.O | FixedReset Disc | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.63 % |
| NA.PR.S | FixedReset Disc | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.66 Evaluated at bid price : 20.66 Bid-YTW : 5.72 % |
| RY.PR.H | FixedReset Disc | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.47 % |
| CM.PR.Q | FixedReset Disc | -1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.59 Evaluated at bid price : 21.99 Bid-YTW : 5.63 % |
| BMO.PR.W | FixedReset Disc | -1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.45 Evaluated at bid price : 20.45 Bid-YTW : 5.51 % |
| TRP.PR.A | FixedReset Disc | -1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 17.06 Evaluated at bid price : 17.06 Bid-YTW : 6.17 % |
| RY.PR.J | FixedReset Disc | -1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 21.81 Evaluated at bid price : 22.31 Bid-YTW : 5.52 % |
| PWF.PR.Q | FloatingReset | -1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 4.37 % |
| BAM.PR.M | Perpetual-Discount | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 6.24 % |
| PWF.PR.S | Perpetual-Discount | -1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-11-23 Maturity Price : 20.59 Evaluated at bid price : 20.59 Bid-YTW : 5.90 % |
| BAM.PF.I | FixedReset Prem | 1.03 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-03-31 Maturity Price : 25.00 Evaluated at bid price : 24.50 Bid-YTW : 5.74 % |
| GWO.PR.N | FixedReset Ins Non | 1.42 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 16.40 Bid-YTW : 10.89 % |
| RY.PR.G | Deemed-Retractible | 1.50 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2018-12-23 Maturity Price : 25.00 Evaluated at bid price : 25.07 Bid-YTW : 0.94 % |
| MFC.PR.F | FixedReset Ins Non | 1.58 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 16.10 Bid-YTW : 11.10 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| RY.PR.L | FixedReset Bank Non | 281,114 | YTW SCENARIO Maturity Type : Call Maturity Date : 2019-02-24 Maturity Price : 25.00 Evaluated at bid price : 25.05 Bid-YTW : 3.44 % |
| BNS.PR.R | FixedReset Bank Non | 156,860 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.04 Bid-YTW : 4.25 % |
| BMO.PR.B | FixedReset Prem | 64,542 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-02-25 Maturity Price : 25.00 Evaluated at bid price : 25.25 Bid-YTW : 4.53 % |
| BNS.PR.Z | FixedReset Bank Non | 64,200 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.50 Bid-YTW : 4.64 % |
| BNS.PR.Y | FixedReset Bank Non | 52,040 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.90 Bid-YTW : 4.27 % |
| BNS.PR.G | FixedReset Prem | 49,815 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-07-25 Maturity Price : 25.00 Evaluated at bid price : 25.89 Bid-YTW : 4.27 % |
| There were 32 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| IFC.PR.F | Deemed-Retractible | Quote: 23.12 – 23.98 Spot Rate : 0.8600 Average : 0.5946 YTW SCENARIO |
| BAM.PR.Z | FixedReset Disc | Quote: 20.52 – 21.23 Spot Rate : 0.7100 Average : 0.4835 YTW SCENARIO |
| EMA.PR.H | FixedReset Disc | Quote: 23.20 – 23.80 Spot Rate : 0.6000 Average : 0.3840 YTW SCENARIO |
| BMO.PR.Y | FixedReset Disc | Quote: 21.85 – 22.50 Spot Rate : 0.6500 Average : 0.4423 YTW SCENARIO |
| BMO.PR.S | FixedReset Disc | Quote: 20.75 – 21.19 Spot Rate : 0.4400 Average : 0.3017 YTW SCENARIO |
| GWO.PR.M | Deemed-Retractible | Quote: 24.80 – 25.20 Spot Rate : 0.4000 Average : 0.2620 YTW SCENARIO |