And now it’s time to start preparing 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 | -0.4249 % | 1,940.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4249 % | 3,560.6 |
| Floater | 6.21 % | 6.35 % | 54,742 | 13.43 | 4 | -0.4249 % | 2,052.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0452 % | 3,376.5 |
| SplitShare | 4.67 % | 4.61 % | 61,324 | 4.03 | 7 | 0.0452 % | 4,032.2 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0452 % | 3,146.1 |
| Perpetual-Premium | 5.61 % | -15.70 % | 64,813 | 0.09 | 6 | -0.0845 % | 2,982.7 |
| Perpetual-Discount | 5.44 % | 5.59 % | 63,576 | 14.46 | 28 | 0.3001 % | 3,147.2 |
| FixedReset Disc | 5.51 % | 5.55 % | 177,548 | 14.32 | 73 | 0.4511 % | 2,082.6 |
| Deemed-Retractible | 5.26 % | 5.85 % | 74,656 | 7.91 | 27 | 0.1918 % | 3,134.2 |
| FloatingReset | 4.48 % | 6.63 % | 57,705 | 8.07 | 3 | 0.6868 % | 2,373.4 |
| FixedReset Prem | 5.25 % | 4.04 % | 136,446 | 1.61 | 14 | 0.0614 % | 2,581.2 |
| FixedReset Bank Non | 1.98 % | 4.42 % | 87,952 | 2.30 | 3 | -0.5126 % | 2,655.8 |
| FixedReset Ins Non | 5.42 % | 7.87 % | 112,245 | 7.92 | 21 | 0.6016 % | 2,130.3 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| PWF.PR.A | Floater | -1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 11.95 Evaluated at bid price : 11.95 Bid-YTW : 5.85 % |
| PWF.PR.R | Perpetual-Discount | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 24.76 Evaluated at bid price : 25.00 Bid-YTW : 5.57 % |
| CM.PR.Y | FixedReset Disc | 1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 23.06 Evaluated at bid price : 24.70 Bid-YTW : 5.23 % |
| IAF.PR.I | FixedReset Ins Non | 1.03 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 19.60 Bid-YTW : 7.54 % |
| IAF.PR.B | Deemed-Retractible | 1.05 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.10 Bid-YTW : 6.13 % |
| GWO.PR.R | Deemed-Retractible | 1.07 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.65 Bid-YTW : 6.04 % |
| POW.PR.G | Perpetual-Discount | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 24.92 Evaluated at bid price : 25.16 Bid-YTW : 5.65 % |
| TD.PF.C | FixedReset Disc | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 17.20 Evaluated at bid price : 17.20 Bid-YTW : 5.53 % |
| MFC.PR.H | FixedReset Ins Non | 1.21 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.85 Bid-YTW : 6.82 % |
| MFC.PR.M | FixedReset Ins Non | 1.24 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 16.34 Bid-YTW : 9.13 % |
| TRP.PR.A | FixedReset Disc | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 13.38 Evaluated at bid price : 13.38 Bid-YTW : 6.41 % |
| TD.PF.D | FixedReset Disc | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 19.46 Evaluated at bid price : 19.46 Bid-YTW : 5.55 % |
| BAM.PF.J | FixedReset Disc | 1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 22.94 Evaluated at bid price : 24.02 Bid-YTW : 4.89 % |
| HSE.PR.E | FixedReset Disc | 1.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 7.01 % |
| MFC.PR.Q | FixedReset Ins Non | 1.51 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.80 Bid-YTW : 7.91 % |
| BMO.PR.Y | FixedReset Disc | 1.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 18.80 Evaluated at bid price : 18.80 Bid-YTW : 5.63 % |
| SLF.PR.I | FixedReset Ins Non | 1.64 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.57 Bid-YTW : 7.77 % |
| SLF.PR.J | FloatingReset | 1.67 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 13.40 Bid-YTW : 10.47 % |
| BAM.PF.F | FixedReset Disc | 1.74 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 17.55 Evaluated at bid price : 17.55 Bid-YTW : 6.24 % |
| CM.PR.Q | FixedReset Disc | 1.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 18.58 Evaluated at bid price : 18.58 Bid-YTW : 5.80 % |
| GWO.PR.N | FixedReset Ins Non | 1.89 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 14.52 Bid-YTW : 8.99 % |
| TD.PF.E | FixedReset Disc | 1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 19.78 Evaluated at bid price : 19.78 Bid-YTW : 5.55 % |
| IFC.PR.A | FixedReset Ins Non | 2.01 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 14.62 Bid-YTW : 9.76 % |
| EMA.PR.F | FixedReset Disc | 2.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 16.85 Evaluated at bid price : 16.85 Bid-YTW : 6.21 % |
| BAM.PF.E | FixedReset Disc | 2.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 16.20 Evaluated at bid price : 16.20 Bid-YTW : 6.30 % |
| HSE.PR.C | FixedReset Disc | 2.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 16.51 Evaluated at bid price : 16.51 Bid-YTW : 7.04 % |
| TD.PF.A | FixedReset Disc | 2.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 17.43 Evaluated at bid price : 17.43 Bid-YTW : 5.44 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| POW.PR.D | Perpetual-Discount | 133,858 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 22.11 Evaluated at bid price : 22.39 Bid-YTW : 5.67 % |
| CU.PR.C | FixedReset Disc | 119,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 17.05 Evaluated at bid price : 17.05 Bid-YTW : 5.65 % |
| CM.PR.R | FixedReset Disc | 54,269 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 21.24 Evaluated at bid price : 21.24 Bid-YTW : 5.72 % |
| BAM.PR.X | FixedReset Disc | 52,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2049-09-13 Maturity Price : 12.97 Evaluated at bid price : 12.97 Bid-YTW : 6.20 % |
| TRP.PR.K | FixedReset Disc | 52,259 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-05-31 Maturity Price : 25.00 Evaluated at bid price : 25.15 Bid-YTW : 4.76 % |
| MFC.PR.R | FixedReset Ins Non | 45,200 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2030-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.14 Bid-YTW : 5.67 % |
| There were 46 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| TD.PF.E | FixedReset Disc | Quote: 19.78 – 20.23 Spot Rate : 0.4500 Average : 0.2870 YTW SCENARIO |
| HSE.PR.G | FixedReset Disc | Quote: 17.67 – 18.19 Spot Rate : 0.5200 Average : 0.3871 YTW SCENARIO |
| BAM.PF.G | FixedReset Disc | Quote: 17.40 – 17.83 Spot Rate : 0.4300 Average : 0.2976 YTW SCENARIO |
| IFC.PR.E | Deemed-Retractible | Quote: 23.77 – 24.20 Spot Rate : 0.4300 Average : 0.3009 YTW SCENARIO |
| IAF.PR.G | FixedReset Ins Non | Quote: 19.02 – 19.37 Spot Rate : 0.3500 Average : 0.2227 YTW SCENARIO |
| RY.PR.J | FixedReset Disc | Quote: 19.16 – 19.49 Spot Rate : 0.3300 Average : 0.2065 YTW SCENARIO |