| 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 | 1.2256 % | 2,150.2 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.2256 % | 3,945.6 |
| Floater | 5.67 % | 5.81 % | 50,180 | 14.19 | 4 | 1.2256 % | 2,273.8 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0393 % | 3,434.5 |
| SplitShare | 4.79 % | 4.52 % | 32,499 | 3.74 | 6 | 0.0393 % | 4,101.5 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0393 % | 3,200.1 |
| Perpetual-Premium | 5.59 % | -1.53 % | 58,165 | 0.09 | 11 | 0.0503 % | 3,055.8 |
| Perpetual-Discount | 5.26 % | 5.34 % | 67,258 | 14.90 | 24 | 0.1636 % | 3,299.2 |
| FixedReset Disc | 5.39 % | 5.56 % | 196,192 | 14.59 | 64 | 0.4092 % | 2,215.6 |
| Deemed-Retractible | 5.15 % | 5.24 % | 72,919 | 14.88 | 27 | 0.1105 % | 3,242.9 |
| FloatingReset | 5.95 % | 5.90 % | 74,861 | 14.08 | 3 | -0.2881 % | 2,573.5 |
| FixedReset Prem | 5.09 % | 3.51 % | 145,704 | 1.52 | 22 | 0.0782 % | 2,647.9 |
| FixedReset Bank Non | 1.94 % | 3.65 % | 66,356 | 1.99 | 3 | 0.2456 % | 2,740.0 |
| FixedReset Ins Non | 5.22 % | 5.51 % | 140,504 | 14.65 | 22 | 0.4992 % | 2,245.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.C | Floater | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 12.00 Evaluated at bid price : 12.00 Bid-YTW : 5.81 % |
| BAM.PR.X | FixedReset Disc | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 13.95 Evaluated at bid price : 13.95 Bid-YTW : 5.99 % |
| SLF.PR.G | FixedReset Ins Non | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 13.71 Evaluated at bid price : 13.71 Bid-YTW : 5.54 % |
| TD.PF.K | FixedReset Disc | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 19.99 Evaluated at bid price : 19.99 Bid-YTW : 5.42 % |
| RY.PR.H | FixedReset Disc | 1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 5.35 % |
| CM.PR.O | FixedReset Disc | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 17.46 Evaluated at bid price : 17.46 Bid-YTW : 5.56 % |
| TRP.PR.G | FixedReset Disc | 1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 5.98 % |
| MFC.PR.F | FixedReset Ins Non | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 13.30 Evaluated at bid price : 13.30 Bid-YTW : 5.61 % |
| CU.PR.E | Perpetual-Discount | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 23.24 Evaluated at bid price : 23.71 Bid-YTW : 5.21 % |
| BAM.PR.B | Floater | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 12.00 Evaluated at bid price : 12.00 Bid-YTW : 5.81 % |
| IFC.PR.C | FixedReset Ins Non | 1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 18.25 Evaluated at bid price : 18.25 Bid-YTW : 5.78 % |
| MFC.PR.I | FixedReset Ins Non | 1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.49 % |
| MFC.PR.H | FixedReset Ins Non | 1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.51 % |
| BMO.PR.Y | FixedReset Disc | 1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 19.95 Evaluated at bid price : 19.95 Bid-YTW : 5.48 % |
| EMA.PR.C | FixedReset Disc | 1.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 18.97 Evaluated at bid price : 18.97 Bid-YTW : 5.86 % |
| PWF.PR.A | Floater | 1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 12.80 Evaluated at bid price : 12.80 Bid-YTW : 5.49 % |
| TRP.PR.C | FixedReset Disc | 2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 12.95 Evaluated at bid price : 12.95 Bid-YTW : 6.01 % |
| BAM.PR.R | FixedReset Disc | 2.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 16.18 Evaluated at bid price : 16.18 Bid-YTW : 5.98 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| HSE.PR.C | FixedReset Disc | 200,363 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 17.73 Evaluated at bid price : 17.73 Bid-YTW : 6.74 % |
| HSE.PR.A | FixedReset Disc | 199,957 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 12.00 Evaluated at bid price : 12.00 Bid-YTW : 6.89 % |
| CU.PR.H | Perpetual-Discount | 125,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 24.31 Evaluated at bid price : 24.81 Bid-YTW : 5.34 % |
| IAF.PR.G | FixedReset Ins Non | 110,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 5.70 % |
| BAM.PR.B | Floater | 101,975 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 12.00 Evaluated at bid price : 12.00 Bid-YTW : 5.81 % |
| NA.PR.E | FixedReset Disc | 96,916 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-01-14 Maturity Price : 18.85 Evaluated at bid price : 18.85 Bid-YTW : 5.67 % |
| There were 51 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| SLF.PR.J | FloatingReset | Quote: 13.37 – 13.70 Spot Rate : 0.3300 Average : 0.2075 YTW SCENARIO |
| RY.PR.N | Perpetual-Discount | Quote: 24.60 – 24.93 Spot Rate : 0.3300 Average : 0.2414 YTW SCENARIO |
| POW.PR.D | Perpetual-Discount | Quote: 23.28 – 23.55 Spot Rate : 0.2700 Average : 0.1902 YTW SCENARIO |
| GWO.PR.I | Deemed-Retractible | Quote: 21.60 – 21.84 Spot Rate : 0.2400 Average : 0.1676 YTW SCENARIO |
| PWF.PR.R | Perpetual-Premium | Quote: 25.05 – 25.33 Spot Rate : 0.2800 Average : 0.2144 YTW SCENARIO |
| TRP.PR.K | FixedReset Prem | Quote: 25.55 – 25.74 Spot Rate : 0.1900 Average : 0.1303 YTW SCENARIO |
Interesting take on fall in population growth rates worldwide. Eventually leading to perhaps falling population over a longer term. The long term guy-Keynes- is also copiously mentioned in this article.
And its implications for interest rates? Declining interest rates to enable consumption.
https://www.ft.com/content/c017334e-36bb-11ea-a6d3-9a26f8c3cba4