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TXPR closed at 534.55, up 0.77% on the day. Volume today was 1.82-million, about the median of the past thirty days.
CPD closed at 10.65, up 0.95% on the day. Volume was 65,080, near the lows of the past 30 trading days.
ZPR closed at 8.32, up 1.09% on the day. Volume of 584,299 was second-highest of the past 30 trading days, behind only June 30.
Five-year Canada yields were up 1bp at 0.38% today.
Employers brought back millions more workers in June as businesses began to reopen across the country. But the recent surge in coronavirus cases is threatening to stall the economic recovery long before it has reached most of the people who lost their jobs.
U.S. payrolls grew by 4.8 million in June, the Labor Department said Thursday. It was the second month of strong gains after April’s huge losses, when businesses laid off or furloughed tens of millions of workers as the pandemic put a large swath of economic activity on ice.
…
But the thaw is far from complete. There were still nearly 15 million fewer jobs in June than in February, before the pandemic forced businesses to close. The unemployment rate fell to 11.1 percent in June, down from a peak of 14.7 percent in April but still higher than in any previous period since World War II. The rate would have been about one percentage point higher, the Labor Department said, had it not been for persistent data-collection problems.
There was another American figure of interest:
More than 50,000 new coronavirus infections were reported across the United States on Thursday, according to a New York Times database, as the country set a new daily case record for the sixth time in nine days. The alarming new milestone came as some of the country’s most populous states reported major surges, and as public health officials scrambled to limit the damage. At least seven states reported single-day case records on Thursday: Alaska, Arkansas, Florida, Georgia, Montana, South Carolina and Tennessee.
Thursday’s reported total was an 87 percent increase in daily cases from two weeks ago, when states were reopening after extensive lockdowns eased the outbreak, particularly in the hard-hit Northeast.
But the market appeared to consider the former more important than the latter:
Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way.
All three major U.S. stock averages advanced, with the benchmark S&P 500 posting its fourth straight daily gain. The TSX also rose Thursday, for its third straight trading day of gains. U.S. markets are closed Friday for the Fourth of July holiday.
…
The Dow Jones Industrial Average rose 92.39 points, or 0.36%, to 25,827.36, the S&P 500 gained 14.15 points, or 0.45%, to 3,130.01 and the Nasdaq Composite added 53.00 points, or 0.52%, to 10,207.63.The S&P/TSX Composite Index rose 107.18 points, or 0.69%, at 15,622.40. Sector performance was mixed, with the Canadian Real Estate Index gaining 2.84%, and tech rising 3.67% thanks to a 8.36% jump in shares of Shopify to a new record high. Materials and industrials were lower.
| 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 | 0.3790 % | 1,452.3 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3790 % | 2,665.0 |
| Floater | 5.40 % | 5.74 % | 48,868 | 14.33 | 4 | 0.3790 % | 1,535.8 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4883 % | 3,457.7 |
| SplitShare | 4.86 % | 4.88 % | 69,600 | 3.80 | 7 | 0.4883 % | 4,129.2 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4883 % | 3,221.8 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2743 % | 3,022.7 |
| Perpetual-Discount | 5.58 % | 5.74 % | 73,839 | 14.32 | 35 | 0.2743 % | 3,242.1 |
| FixedReset Disc | 6.16 % | 5.10 % | 147,393 | 15.01 | 83 | 1.0479 % | 1,842.5 |
| Deemed-Retractible | 5.32 % | 5.48 % | 89,593 | 14.40 | 27 | 0.3858 % | 3,218.4 |
| FloatingReset | 5.11 % | 5.07 % | 43,189 | 15.43 | 3 | 0.7471 % | 1,732.6 |
| FixedReset Prem | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.0479 % | 2,548.2 |
| FixedReset Bank Non | 1.97 % | 3.13 % | 122,964 | 1.54 | 2 | 0.0817 % | 2,792.4 |
| FixedReset Ins Non | 6.50 % | 5.22 % | 108,414 | 14.79 | 22 | 0.9883 % | 1,831.9 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| TD.PF.D | FixedReset Disc | -1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.78 Evaluated at bid price : 15.78 Bid-YTW : 5.10 % |
| CM.PR.P | FixedReset Disc | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 14.78 Evaluated at bid price : 14.78 Bid-YTW : 4.99 % |
| SLF.PR.I | FixedReset Ins Non | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 5.14 % |
| HSE.PR.E | FixedReset Disc | 1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 11.48 Evaluated at bid price : 11.48 Bid-YTW : 9.22 % |
| TRP.PR.G | FixedReset Disc | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 14.20 Evaluated at bid price : 14.20 Bid-YTW : 5.96 % |
| PWF.PR.S | Perpetual-Discount | 1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 5.77 % |
| IFC.PR.A | FixedReset Ins Non | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 11.13 Evaluated at bid price : 11.13 Bid-YTW : 5.18 % |
| PVS.PR.E | SplitShare | 1.19 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-10-31 Maturity Price : 25.00 Evaluated at bid price : 25.45 Bid-YTW : 4.88 % |
| RY.PR.M | FixedReset Disc | 1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 16.06 Evaluated at bid price : 16.06 Bid-YTW : 4.73 % |
| BAM.PR.K | Floater | 1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 7.50 Evaluated at bid price : 7.50 Bid-YTW : 5.76 % |
| GWO.PR.S | Deemed-Retractible | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 22.85 Evaluated at bid price : 23.29 Bid-YTW : 5.65 % |
| BIP.PR.F | FixedReset Disc | 1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 20.54 Evaluated at bid price : 20.54 Bid-YTW : 6.26 % |
| SLF.PR.H | FixedReset Ins Non | 1.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 11.91 Evaluated at bid price : 11.91 Bid-YTW : 5.41 % |
| TD.PF.H | FixedReset Disc | 1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 22.89 Evaluated at bid price : 23.35 Bid-YTW : 4.89 % |
| MFC.PR.N | FixedReset Ins Non | 1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 14.20 Evaluated at bid price : 14.20 Bid-YTW : 5.21 % |
| IFC.PR.I | Perpetual-Discount | 1.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 23.66 Evaluated at bid price : 24.00 Bid-YTW : 5.65 % |
| BAM.PF.F | FixedReset Disc | 1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 14.41 Evaluated at bid price : 14.41 Bid-YTW : 6.00 % |
| TRP.PR.D | FixedReset Disc | 1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 12.89 Evaluated at bid price : 12.89 Bid-YTW : 5.84 % |
| TRP.PR.K | FixedReset Disc | 1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 23.25 Evaluated at bid price : 23.60 Bid-YTW : 5.23 % |
| BMO.PR.B | FixedReset Disc | 1.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 22.76 Evaluated at bid price : 23.15 Bid-YTW : 4.86 % |
| MFC.PR.F | FixedReset Ins Non | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 9.13 Evaluated at bid price : 9.13 Bid-YTW : 4.97 % |
| RY.PR.Z | FixedReset Disc | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.24 Evaluated at bid price : 15.24 Bid-YTW : 4.68 % |
| BNS.PR.I | FixedReset Disc | 1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 17.94 Evaluated at bid price : 17.94 Bid-YTW : 4.55 % |
| BMO.PR.T | FixedReset Disc | 1.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 14.70 Evaluated at bid price : 14.70 Bid-YTW : 4.90 % |
| HSE.PR.C | FixedReset Disc | 1.69 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 10.85 Evaluated at bid price : 10.85 Bid-YTW : 9.14 % |
| MFC.PR.I | FixedReset Ins Non | 1.69 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 16.27 Evaluated at bid price : 16.27 Bid-YTW : 5.22 % |
| BIK.PR.A | FixedReset Disc | 1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 22.74 Evaluated at bid price : 23.70 Bid-YTW : 6.17 % |
| CM.PR.Q | FixedReset Disc | 1.74 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.21 Evaluated at bid price : 15.21 Bid-YTW : 5.20 % |
| BAM.PF.J | FixedReset Disc | 1.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 22.50 Evaluated at bid price : 23.00 Bid-YTW : 5.17 % |
| BAM.PR.X | FixedReset Disc | 1.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 9.77 Evaluated at bid price : 9.77 Bid-YTW : 5.76 % |
| BIP.PR.D | FixedReset Disc | 1.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.12 Evaluated at bid price : 21.12 Bid-YTW : 5.96 % |
| RY.PR.J | FixedReset Disc | 1.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 16.49 Evaluated at bid price : 16.49 Bid-YTW : 4.81 % |
| TD.PF.M | FixedReset Disc | 1.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.89 Evaluated at bid price : 22.30 Bid-YTW : 4.76 % |
| BIP.PR.E | FixedReset Disc | 1.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 20.62 Evaluated at bid price : 20.62 Bid-YTW : 6.11 % |
| BMO.PR.W | FixedReset Disc | 1.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.03 Evaluated at bid price : 15.03 Bid-YTW : 4.88 % |
| CM.PR.Y | FixedReset Disc | 1.84 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.04 Evaluated at bid price : 21.04 Bid-YTW : 5.07 % |
| CM.PR.O | FixedReset Disc | 1.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 14.18 Evaluated at bid price : 14.18 Bid-YTW : 5.18 % |
| CM.PR.S | FixedReset Disc | 1.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.74 Evaluated at bid price : 15.74 Bid-YTW : 4.89 % |
| IAF.PR.G | FixedReset Ins Non | 1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 5.16 % |
| MFC.PR.J | FixedReset Ins Non | 1.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.84 Evaluated at bid price : 15.84 Bid-YTW : 5.17 % |
| PWF.PR.P | FixedReset Disc | 1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 9.35 Evaluated at bid price : 9.35 Bid-YTW : 5.40 % |
| BMO.PR.D | FixedReset Disc | 2.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 18.79 Evaluated at bid price : 18.79 Bid-YTW : 4.91 % |
| NA.PR.W | FixedReset Disc | 2.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.12 Evaluated at bid price : 15.12 Bid-YTW : 4.92 % |
| CU.PR.H | Perpetual-Discount | 2.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 24.27 Evaluated at bid price : 24.56 Bid-YTW : 5.39 % |
| TRP.PR.E | FixedReset Disc | 2.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 12.80 Evaluated at bid price : 12.80 Bid-YTW : 5.84 % |
| TD.PF.I | FixedReset Disc | 2.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 18.65 Evaluated at bid price : 18.65 Bid-YTW : 4.81 % |
| TD.PF.L | FixedReset Disc | 2.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 4.78 % |
| MFC.PR.R | FixedReset Ins Non | 2.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 5.09 % |
| TD.PF.E | FixedReset Disc | 2.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 16.88 Evaluated at bid price : 16.88 Bid-YTW : 4.89 % |
| CCS.PR.C | Deemed-Retractible | 2.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 22.11 Evaluated at bid price : 22.33 Bid-YTW : 5.63 % |
| TRP.PR.H | FloatingReset | 3.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 7.40 Evaluated at bid price : 7.40 Bid-YTW : 5.07 % |
| GWO.PR.N | FixedReset Ins Non | 3.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 9.04 Evaluated at bid price : 9.04 Bid-YTW : 4.69 % |
| IFC.PR.C | FixedReset Ins Non | 3.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 14.54 Evaluated at bid price : 14.54 Bid-YTW : 5.28 % |
| HSE.PR.G | FixedReset Disc | 3.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 10.68 Evaluated at bid price : 10.68 Bid-YTW : 9.21 % |
| CM.PR.R | FixedReset Disc | 5.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 18.93 Evaluated at bid price : 18.93 Bid-YTW : 5.07 % |
| TD.PF.A | FixedReset Disc | 5.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 15.27 Evaluated at bid price : 15.27 Bid-YTW : 4.77 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| W.PR.M | FixedReset Disc | 159,095 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 23.85 Evaluated at bid price : 24.28 Bid-YTW : 5.35 % |
| MFC.PR.R | FixedReset Ins Non | 112,734 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.10 Evaluated at bid price : 21.10 Bid-YTW : 5.09 % |
| TRP.PR.C | FixedReset Disc | 77,262 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 8.47 Evaluated at bid price : 8.47 Bid-YTW : 5.67 % |
| MFC.PR.B | Deemed-Retractible | 53,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 21.87 Evaluated at bid price : 22.11 Bid-YTW : 5.29 % |
| TD.PF.J | FixedReset Disc | 49,083 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 4.92 % |
| RY.PR.M | FixedReset Disc | 43,100 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-07-02 Maturity Price : 16.06 Evaluated at bid price : 16.06 Bid-YTW : 4.73 % |
| There were 27 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.M | FixedReset Ins Non | Quote: 14.30 – 17.00 Spot Rate : 2.7000 Average : 1.5056 YTW SCENARIO |
| EIT.PR.B | SplitShare | Quote: 25.00 – 26.00 Spot Rate : 1.0000 Average : 0.5519 YTW SCENARIO |
| MFC.PR.Q | FixedReset Ins Non | Quote: 14.37 – 16.08 Spot Rate : 1.7100 Average : 1.3677 YTW SCENARIO |
| NA.PR.C | FixedReset Disc | Quote: 19.46 – 20.19 Spot Rate : 0.7300 Average : 0.4882 YTW SCENARIO |
| TRP.PR.A | FixedReset Disc | Quote: 11.40 – 12.29 Spot Rate : 0.8900 Average : 0.6750 YTW SCENARIO |
| TD.PF.D | FixedReset Disc | Quote: 15.78 – 16.78 Spot Rate : 1.0000 Average : 0.8135 YTW SCENARIO |