| 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 | 0.0408 % | 1,593.9 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0408 % | 2,924.7 |
| Floater | 5.24 % | 5.30 % | 58,226 | 14.97 | 3 | 0.0408 % | 1,685.5 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1292 % | 3,486.3 |
| SplitShare | 4.68 % | 4.69 % | 46,341 | 3.27 | 8 | 0.1292 % | 4,163.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1292 % | 3,248.4 |
| Perpetual-Premium | 5.57 % | 4.84 % | 78,560 | 4.05 | 4 | 0.0498 % | 3,077.4 |
| Perpetual-Discount | 5.49 % | 5.66 % | 74,278 | 14.39 | 31 | 0.2024 % | 3,321.1 |
| FixedReset Disc | 5.76 % | 4.46 % | 139,046 | 16.03 | 67 | -0.2536 % | 1,986.1 |
| Deemed-Retractible | 5.25 % | 5.34 % | 93,252 | 14.53 | 27 | 0.0746 % | 3,268.6 |
| FloatingReset | 2.94 % | 2.46 % | 33,863 | 1.47 | 3 | -0.1361 % | 1,758.2 |
| FixedReset Prem | 5.28 % | 4.40 % | 245,340 | 1.02 | 11 | 0.1084 % | 2,600.8 |
| FixedReset Bank Non | 1.96 % | 2.56 % | 113,146 | 1.46 | 2 | 0.2032 % | 2,824.6 |
| FixedReset Ins Non | 5.80 % | 4.53 % | 98,879 | 16.02 | 22 | 0.1525 % | 2,051.8 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| RY.PR.M | FixedReset Disc | -15.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 15.32 Evaluated at bid price : 15.32 Bid-YTW : 4.80 % |
| BAM.PR.R | FixedReset Disc | -2.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 12.12 Evaluated at bid price : 12.12 Bid-YTW : 5.50 % |
| CM.PR.O | FixedReset Disc | -1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 16.05 Evaluated at bid price : 16.05 Bid-YTW : 4.50 % |
| TD.PF.I | FixedReset Disc | -1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 4.12 % |
| BIP.PR.E | FixedReset Disc | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 6.28 % |
| CM.PR.T | FixedReset Disc | -1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 21.98 Evaluated at bid price : 22.40 Bid-YTW : 4.38 % |
| TRP.PR.G | FixedReset Disc | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 15.05 Evaluated at bid price : 15.05 Bid-YTW : 5.55 % |
| TD.PF.K | FixedReset Disc | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 4.27 % |
| MFC.PR.N | FixedReset Ins Non | -1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 15.71 Evaluated at bid price : 15.71 Bid-YTW : 4.64 % |
| BMO.PR.F | FixedReset Disc | -1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 22.78 Evaluated at bid price : 23.80 Bid-YTW : 4.21 % |
| BMO.PR.W | FixedReset Disc | -1.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 16.78 Evaluated at bid price : 16.78 Bid-YTW : 4.21 % |
| IFC.PR.A | FixedReset Ins Non | 1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 12.50 Evaluated at bid price : 12.50 Bid-YTW : 4.50 % |
| TRP.PR.K | FixedReset Disc | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 23.22 Evaluated at bid price : 23.59 Bid-YTW : 5.27 % |
| SLF.PR.H | FixedReset Ins Non | 1.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 14.19 Evaluated at bid price : 14.19 Bid-YTW : 4.46 % |
| TRP.PR.A | FixedReset Disc | 1.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 12.00 Evaluated at bid price : 12.00 Bid-YTW : 5.41 % |
| CU.PR.C | FixedReset Disc | 1.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 15.69 Evaluated at bid price : 15.69 Bid-YTW : 4.50 % |
| MFC.PR.F | FixedReset Ins Non | 1.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 9.81 Evaluated at bid price : 9.81 Bid-YTW : 4.50 % |
| BAM.PF.J | FixedReset Disc | 2.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 22.52 Evaluated at bid price : 23.00 Bid-YTW : 5.20 % |
| BMO.PR.Y | FixedReset Disc | 5.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 4.18 % |
| TD.PF.D | FixedReset Disc | 5.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 18.76 Evaluated at bid price : 18.76 Bid-YTW : 4.15 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| CM.PR.P | FixedReset Disc | 103,825 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 16.38 Evaluated at bid price : 16.38 Bid-YTW : 4.43 % |
| W.PR.M | FixedReset Disc | 66,055 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 24.03 Evaluated at bid price : 24.45 Bid-YTW : 5.35 % |
| NA.PR.X | FixedReset Prem | 62,900 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-05-15 Maturity Price : 25.00 Evaluated at bid price : 25.10 Bid-YTW : 4.85 % |
| CU.PR.C | FixedReset Disc | 51,549 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 15.69 Evaluated at bid price : 15.69 Bid-YTW : 4.50 % |
| BAM.PF.B | FixedReset Disc | 44,779 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 15.05 Evaluated at bid price : 15.05 Bid-YTW : 5.53 % |
| BMO.PR.E | FixedReset Disc | 39,025 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-08-04 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 4.29 % |
| There were 14 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| IAF.PR.G | FixedReset Ins Non | Quote: 18.25 – 25.00 Spot Rate : 6.7500 Average : 3.6124 YTW SCENARIO |
| RY.PR.M | FixedReset Disc | Quote: 15.32 – 18.50 Spot Rate : 3.1800 Average : 2.3424 YTW SCENARIO |
| EIT.PR.B | SplitShare | Quote: 25.30 – 26.30 Spot Rate : 1.0000 Average : 0.6217 YTW SCENARIO |
| MFC.PR.N | FixedReset Ins Non | Quote: 15.71 – 17.00 Spot Rate : 1.2900 Average : 0.9471 YTW SCENARIO |
| EIT.PR.A | SplitShare | Quote: 25.22 – 26.00 Spot Rate : 0.7800 Average : 0.5514 YTW SCENARIO |
| MFC.PR.J | FixedReset Ins Non | Quote: 17.55 – 19.17 Spot Rate : 1.6200 Average : 1.4221 YTW SCENARIO |
question for the bloggers , now that a lot of the common have a higher yield than the pref stock , what are you buying ?
I made the mistake of investing in Laurentian Bank commons a couple years ago, I figured they had a low price-to-book, and a big nice yield and they would eventually recover after the mortgage fraud. I regret not dumping my commons earlier. I also looked into chesswood at one point but luckily talked myself out of them.
Turns out my portfolio had far to much finance exposure, but hindsight is (the year) 2020. Moving forward it’s just sp500 for my equity side, and a basket of sketchy rate resets for my fixed income side.
I forgot where I was going with that story….. DONT CHASE YIELDS ON COMMONS. common dividends don’t matter.
In fact large common yields can be an indicator of a poorly run business. Be careful out there.
Yes, hindsight is always 2020…. Dividends can indicate strength, but it can indicate weakness as well as the stock falls because of declining health of the company… Sometime things recover, and sometimes they don’t….
Just because you think something is a great buy, the market thinks otherwise. Don’t fight the market…..