Quote quality has been dropping recently and today plumbed new depths of woefulness.
Given that mutual fund annual reporting season is nearly upon us, I’ve got half a mind to write an article pointing out just how shitty these quotes are, and that they aren’t even derived from an “Active Market” as defined by the accountants, in the first place.
And, I will continue to ponder the question: is the abysmal quality of these quotes a matter of negligence or malevolence? Poor quotes help market makers and their associated salesmen rip off their clients and counterparties (as the true state of the market is somewhat obscured) and has the additional benefit of retarding the development of quantitative historical investment analysis – which must be done with some kind of bid-offer spread, preferably something approximating market conditions, since otherwise your estimate of transaction cost is just flim-flam and fairy dust.
It’s generally wiser to go with negligence, but it’s very hard to tell from the outside!
| 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 | -0.3282 % | 2,441.6 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3282 % | 4,480.2 |
| Floater | 4.79 % | 5.04 % | 44,270 | 15.47 | 4 | -0.3282 % | 2,582.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3870 % | 3,161.3 |
| SplitShare | 4.66 % | 5.51 % | 90,201 | 4.54 | 7 | 0.3870 % | 3,775.2 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3870 % | 2,945.6 |
| Perpetual-Premium | 5.59 % | -3.38 % | 149,183 | 0.08 | 2 | 0.2389 % | 2,862.2 |
| Perpetual-Discount | 5.75 % | 5.95 % | 72,221 | 14.00 | 33 | -0.1379 % | 2,886.2 |
| FixedReset Disc | 5.21 % | 5.70 % | 203,606 | 14.31 | 66 | -1.9755 % | 2,159.3 |
| Deemed-Retractible | 5.50 % | 6.64 % | 89,483 | 8.18 | 27 | -0.5621 % | 2,877.8 |
| FloatingReset | 4.17 % | 4.69 % | 42,993 | 2.94 | 7 | -1.1038 % | 2,431.4 |
| FixedReset Prem | 5.20 % | 4.52 % | 275,610 | 2.23 | 14 | -0.2270 % | 2,503.7 |
| FixedReset Bank Non | 2.98 % | 3.89 % | 136,065 | 0.14 | 6 | 0.0967 % | 2,569.8 |
| FixedReset Ins Non | 5.14 % | 7.23 % | 141,300 | 8.29 | 22 | -1.4441 % | 2,165.3 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.X | FixedReset Disc | -7.59 % | A nonsensical quote provided at high cost from Nonsense Central, as the issue traded 5,342 shares today in a range of 15.14-02 before being quoted at 14.74-16.01. The closing price was 16.01.
I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| EMA.PR.F | FixedReset Disc | -7.53 % | This crazy quote has a little justification, as the issue traded 3,190 shares today in a range of 17.94-19.25 before being quoted at 17.80-19.35. The closing price was 18.26.
I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| HSE.PR.E | FixedReset Disc | -7.32 % | This crazy quote is another product of Nonsense Central, as the issue traded 5,706 shares today in a range of 19.42-90 before being quoted at 19.00-81. The closing price was 19.42.
I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| BAM.PR.Z | FixedReset Disc | -5.72 % | More nonsense, as the issue traded 5,489 shares today in a range of 20.78-57 before being quoted at 20.43-21.49. The closing price was 21.48.
I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| CU.PR.C | FixedReset Disc | -5.70 % | More nonsense, as the issue traded 2,204 shares today in a range of 17.75-36 before being quoted at 17.38-18.47. The closing price was 17.96.
I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| GWO.PR.N | FixedReset Ins Non | -5.60 % | More nonsense, as the issue traded 3,100 shares today in a range of 14.67-03 before being quoted at 14.16-74. The closing price was 14.67.
I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| HSE.PR.A | FixedReset Disc | -5.41 % | More nonsense, as the issue traded 1,800 shares today in a range of 13.01-67 before being quoted at 12.95-73. The closing price was 13.67.
I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| BAM.PR.R | FixedReset Disc | -4.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 16.64 Evaluated at bid price : 16.64 Bid-YTW : 6.07 % |
| TD.PF.B | FixedReset Disc | -4.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.38 Evaluated at bid price : 18.38 Bid-YTW : 5.74 % |
| TRP.PR.F | FloatingReset | -4.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 5.62 % |
| BAM.PF.E | FixedReset Disc | -4.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.45 Evaluated at bid price : 18.45 Bid-YTW : 6.05 % |
| BAM.PF.B | FixedReset Disc | -4.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 5.80 % |
| RY.PR.H | FixedReset Disc | -3.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 5.66 % |
| HSE.PR.C | FixedReset Disc | -3.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.75 Evaluated at bid price : 18.75 Bid-YTW : 6.69 % |
| IFC.PR.C | FixedReset Ins Non | -3.58 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.59 Bid-YTW : 7.69 % |
| TRP.PR.B | FixedReset Disc | -3.57 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 12.97 Evaluated at bid price : 12.97 Bid-YTW : 5.97 % |
| TRP.PR.D | FixedReset Disc | -3.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 17.65 Evaluated at bid price : 17.65 Bid-YTW : 6.05 % |
| BMO.PR.T | FixedReset Disc | -3.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.25 Evaluated at bid price : 18.25 Bid-YTW : 5.71 % |
| IFC.PR.F | Deemed-Retractible | -3.39 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.22 Bid-YTW : 6.80 % |
| TRP.PR.C | FixedReset Disc | -3.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 13.34 Evaluated at bid price : 13.34 Bid-YTW : 6.16 % |
| CCS.PR.C | Deemed-Retractible | -3.29 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.73 Bid-YTW : 6.74 % |
| TRP.PR.G | FixedReset Disc | -3.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 6.08 % |
| BAM.PR.B | Floater | -3.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 13.37 Evaluated at bid price : 13.37 Bid-YTW : 5.21 % |
| MFC.PR.F | FixedReset Ins Non | -2.95 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 14.15 Bid-YTW : 9.40 % |
| EMA.PR.H | FixedReset Disc | -2.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 22.74 Evaluated at bid price : 23.85 Bid-YTW : 5.15 % |
| BAM.PR.T | FixedReset Disc | -2.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 17.01 Evaluated at bid price : 17.01 Bid-YTW : 6.00 % |
| BIP.PR.A | FixedReset Disc | -2.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 6.84 % |
| TD.PF.C | FixedReset Disc | -2.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.35 Evaluated at bid price : 18.35 Bid-YTW : 5.70 % |
| BIP.PR.E | FixedReset Disc | -2.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.69 Evaluated at bid price : 22.03 Bid-YTW : 5.70 % |
| EML.PR.A | FixedReset Ins Non | -2.62 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-04-17 Maturity Price : 25.00 Evaluated at bid price : 25.61 Bid-YTW : 4.54 % |
| MFC.PR.R | FixedReset Ins Non | -2.53 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.47 Bid-YTW : 6.26 % |
| RY.PR.M | FixedReset Disc | -2.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.28 Evaluated at bid price : 20.28 Bid-YTW : 5.50 % |
| CM.PR.Q | FixedReset Disc | -2.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 5.83 % |
| CM.PR.S | FixedReset Disc | -2.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.34 % |
| TRP.PR.H | FloatingReset | -2.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 13.12 Evaluated at bid price : 13.12 Bid-YTW : 5.63 % |
| MFC.PR.H | FixedReset Ins Non | -2.37 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.00 Bid-YTW : 6.92 % |
| TD.PF.D | FixedReset Disc | -2.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.44 Evaluated at bid price : 20.44 Bid-YTW : 5.69 % |
| MFC.PR.C | Deemed-Retractible | -2.22 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.36 Bid-YTW : 7.62 % |
| PWF.PR.Q | FloatingReset | -2.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 14.99 Evaluated at bid price : 14.99 Bid-YTW : 5.51 % |
| CM.PR.O | FixedReset Disc | -2.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 5.78 % |
| GWO.PR.H | Deemed-Retractible | -2.18 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.62 Bid-YTW : 7.22 % |
| BMO.PR.W | FixedReset Disc | -2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 5.60 % |
| NA.PR.W | FixedReset Disc | -2.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 17.86 Evaluated at bid price : 17.86 Bid-YTW : 5.85 % |
| NA.PR.E | FixedReset Disc | -2.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.56 Evaluated at bid price : 20.56 Bid-YTW : 5.55 % |
| BAM.PF.F | FixedReset Disc | -2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.96 % |
| MFC.PR.I | FixedReset Ins Non | -2.01 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.94 Bid-YTW : 7.35 % |
| RY.PR.J | FixedReset Disc | -2.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.61 % |
| CU.PR.G | Perpetual-Discount | -2.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 5.80 % |
| CM.PR.P | FixedReset Disc | -1.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 17.75 Evaluated at bid price : 17.75 Bid-YTW : 5.78 % |
| IAG.PR.G | FixedReset Ins Non | -1.99 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.75 Bid-YTW : 7.19 % |
| PWF.PR.P | FixedReset Disc | -1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 14.36 Evaluated at bid price : 14.36 Bid-YTW : 5.90 % |
| PWF.PR.A | Floater | -1.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 16.85 Evaluated at bid price : 16.85 Bid-YTW : 4.15 % |
| BMO.PR.S | FixedReset Disc | -1.76 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 5.61 % |
| SLF.PR.B | Deemed-Retractible | -1.70 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.86 Bid-YTW : 7.02 % |
| GWO.PR.I | Deemed-Retractible | -1.66 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.57 Bid-YTW : 7.46 % |
| BMO.PR.Y | FixedReset Disc | -1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.49 % |
| SLF.PR.E | Deemed-Retractible | -1.60 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.67 Bid-YTW : 7.40 % |
| MFC.PR.J | FixedReset Ins Non | -1.59 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.38 Bid-YTW : 7.10 % |
| HSE.PR.G | FixedReset Disc | -1.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 6.89 % |
| NA.PR.S | FixedReset Disc | -1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.98 Evaluated at bid price : 18.98 Bid-YTW : 5.73 % |
| BAM.PR.M | Perpetual-Discount | -1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.69 Evaluated at bid price : 19.69 Bid-YTW : 6.08 % |
| PWF.PR.L | Perpetual-Discount | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.31 Evaluated at bid price : 21.58 Bid-YTW : 6.01 % |
| BIP.PR.F | FixedReset Disc | -1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.78 Evaluated at bid price : 22.20 Bid-YTW : 5.76 % |
| CU.PR.I | FixedReset Disc | -1.35 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2020-12-01 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 3.32 % |
| BAM.PF.A | FixedReset Disc | -1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.26 Evaluated at bid price : 21.26 Bid-YTW : 5.76 % |
| BAM.PF.G | FixedReset Disc | -1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.95 Evaluated at bid price : 19.95 Bid-YTW : 5.94 % |
| RY.PR.Z | FixedReset Disc | -1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 5.46 % |
| SLF.PR.G | FixedReset Ins Non | -1.26 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 14.86 Bid-YTW : 9.02 % |
| MFC.PR.G | FixedReset Ins Non | -1.26 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.56 Bid-YTW : 7.47 % |
| W.PR.M | FixedReset Prem | -1.20 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-10-15 Maturity Price : 25.00 Evaluated at bid price : 24.75 Bid-YTW : 5.57 % |
| BAM.PR.N | Perpetual-Discount | -1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 19.89 Evaluated at bid price : 19.89 Bid-YTW : 6.02 % |
| TRP.PR.A | FixedReset Disc | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 15.96 Evaluated at bid price : 15.96 Bid-YTW : 5.96 % |
| SLF.PR.C | Deemed-Retractible | -1.15 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.75 Bid-YTW : 7.29 % |
| TD.PF.I | FixedReset Disc | -1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.57 Evaluated at bid price : 21.83 Bid-YTW : 5.58 % |
| VNR.PR.A | FixedReset Disc | -1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.01 Evaluated at bid price : 21.01 Bid-YTW : 5.68 % |
| BAM.PF.C | Perpetual-Discount | -1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.26 Evaluated at bid price : 20.26 Bid-YTW : 6.03 % |
| POW.PR.B | Perpetual-Discount | -1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.97 Evaluated at bid price : 22.20 Bid-YTW : 6.04 % |
| MFC.PR.B | Deemed-Retractible | -1.09 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.99 Bid-YTW : 7.40 % |
| POW.PR.G | Perpetual-Discount | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 23.08 Evaluated at bid price : 23.55 Bid-YTW : 5.95 % |
| CU.PR.H | Perpetual-Discount | -1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 23.55 Evaluated at bid price : 24.00 Bid-YTW : 5.52 % |
| SLF.PR.D | Deemed-Retractible | -1.00 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.75 Bid-YTW : 7.29 % |
| W.PR.J | Perpetual-Discount | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 23.24 Evaluated at bid price : 23.54 Bid-YTW : 5.96 % |
| BAM.PF.D | Perpetual-Discount | 1.57 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 20.74 Evaluated at bid price : 20.74 Bid-YTW : 5.95 % |
| W.PR.H | Perpetual-Discount | 1.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 23.34 Evaluated at bid price : 23.63 Bid-YTW : 5.83 % |
| RY.PR.O | Perpetual-Discount | 1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 23.13 Evaluated at bid price : 23.50 Bid-YTW : 5.26 % |
| IFC.PR.E | Deemed-Retractible | 1.78 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.81 Bid-YTW : 6.36 % |
| RY.PR.S | FixedReset Disc | 1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 21.97 Evaluated at bid price : 22.50 Bid-YTW : 4.95 % |
| PVS.PR.F | SplitShare | 1.82 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2024-09-30 Maturity Price : 25.00 Evaluated at bid price : 24.58 Bid-YTW : 5.25 % |
| BIP.PR.D | FixedReset Disc | 2.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 22.41 Evaluated at bid price : 23.00 Bid-YTW : 6.03 % |
| BAM.PR.K | Floater | 3.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 13.80 Evaluated at bid price : 13.80 Bid-YTW : 5.04 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| RY.PR.H | FixedReset Disc | 13,541 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 5.66 % |
| BAM.PF.H | FixedReset Prem | 12,917 | YTW SCENARIO Maturity Type : Call Maturity Date : 2020-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.68 Bid-YTW : 3.61 % |
| RY.PR.Q | FixedReset Prem | 12,120 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-05-24 Maturity Price : 25.00 Evaluated at bid price : 25.79 Bid-YTW : 4.38 % |
| TD.PF.C | FixedReset Disc | 11,986 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.35 Evaluated at bid price : 18.35 Bid-YTW : 5.70 % |
| CM.PR.O | FixedReset Disc | 11,967 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-01-03 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 5.78 % |
| CU.PR.I | FixedReset Disc | 11,800 | YTW SCENARIO Maturity Type : Call Maturity Date : 2020-12-01 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 3.32 % |
| There were 7 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| EMA.PR.F | FixedReset Disc | Quote: 17.80 – 19.35 Spot Rate : 1.5500 Average : 0.9312 YTW SCENARIO |
| IFC.PR.C | FixedReset Ins Non | Quote: 18.59 – 20.20 Spot Rate : 1.6100 Average : 0.9980 YTW SCENARIO |
| IAG.PR.I | FixedReset Ins Non | Quote: 21.20 – 22.80 Spot Rate : 1.6000 Average : 1.0488 YTW SCENARIO |
| MFC.PR.B | Deemed-Retractible | Quote: 19.99 – 21.40 Spot Rate : 1.4100 Average : 0.8994 YTW SCENARIO |
| BAM.PR.R | FixedReset Disc | Quote: 16.64 – 17.78 Spot Rate : 1.1400 Average : 0.6313 YTW SCENARIO |
| BAM.PR.X | FixedReset Disc | Quote: 14.74 – 16.01 Spot Rate : 1.2700 Average : 0.7945 YTW SCENARIO |
What’s going on with IAG.PR.A and other preferreds by IAG. Don’t see any quotes. I’m getting invalid ticker message.
Hi – Please define shitty quote quality?
iA Financial Group Announces Completion of Plan of Arrangement
Please define shitty quote quality
How well the quotes reflect what you could have actually traded at the end of the day.
It’s related to the concept of an active market:
The quality of quotes sold at extortionate prices by the Toronto Stock Exchange was lowered significantly when the Exchange introduced the extended trading session and forgot to adjust their database query for closing quotes.
The quotes provided as of 4:30pm have no independent usefulness whatsoever; they are useful only insofar as they reflect the market at the 4pm close. And yesterday, that wasn’t very far at all.