… and now it’s time for 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 | 1.4786 % | 2,312.5 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.4786 % | 4,243.3 |
| Floater | 3.78 % | 3.76 % | 59,874 | 17.97 | 3 | 1.4786 % | 2,445.4 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0912 % | 3,671.5 |
| SplitShare | 4.77 % | 4.01 % | 37,054 | 3.64 | 9 | 0.0912 % | 4,384.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0912 % | 3,421.0 |
| Perpetual-Premium | 5.32 % | 1.66 % | 75,405 | 0.09 | 21 | -0.0957 % | 3,238.5 |
| Perpetual-Discount | 4.97 % | 4.97 % | 80,727 | 15.49 | 13 | 0.0803 % | 3,735.5 |
| FixedReset Disc | 4.38 % | 3.90 % | 187,139 | 17.12 | 52 | 0.4390 % | 2,648.4 |
| Insurance Straight | 5.02 % | 4.64 % | 85,689 | 15.45 | 22 | -0.0590 % | 3,629.0 |
| FloatingReset | 2.97 % | 3.26 % | 43,225 | 19.11 | 2 | 0.3353 % | 2,410.0 |
| FixedReset Prem | 5.07 % | 3.81 % | 229,979 | 1.03 | 26 | 0.1533 % | 2,724.6 |
| FixedReset Bank Non | 1.81 % | 2.09 % | 220,356 | 0.45 | 1 | 0.0000 % | 2,890.8 |
| FixedReset Ins Non | 4.41 % | 3.85 % | 147,199 | 17.41 | 22 | 0.2361 % | 2,791.8 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| TRP.PR.C | FixedReset Disc | -3.70 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 13.26 Evaluated at bid price : 13.26 Bid-YTW : 4.58 % |
| TD.PF.M | FixedReset Prem | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 23.52 Evaluated at bid price : 25.61 Bid-YTW : 4.49 % |
| CU.PR.G | Perpetual-Discount | -1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 22.81 Evaluated at bid price : 23.20 Bid-YTW : 4.86 % |
| BNS.PR.I | FixedReset Disc | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 23.28 Evaluated at bid price : 24.67 Bid-YTW : 3.64 % |
| MFC.PR.L | FixedReset Ins Non | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 21.42 Evaluated at bid price : 21.75 Bid-YTW : 3.75 % |
| IFC.PR.A | FixedReset Ins Non | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 3.87 % |
| BAM.PF.J | FixedReset Prem | 1.21 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.04 Bid-YTW : 4.53 % |
| TRP.PR.B | FixedReset Disc | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 12.47 Evaluated at bid price : 12.47 Bid-YTW : 4.35 % |
| TRP.PR.F | FloatingReset | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 15.54 Evaluated at bid price : 15.54 Bid-YTW : 3.26 % |
| BAM.PF.H | FixedReset Prem | 1.24 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 26.01 Bid-YTW : 4.03 % |
| MFC.PR.K | FixedReset Ins Non | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 22.19 Evaluated at bid price : 22.53 Bid-YTW : 3.74 % |
| BAM.PR.B | Floater | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 11.40 Evaluated at bid price : 11.40 Bid-YTW : 3.75 % |
| BAM.PR.T | FixedReset Disc | 1.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 18.24 Evaluated at bid price : 18.24 Bid-YTW : 4.58 % |
| BAM.PF.F | FixedReset Disc | 1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 21.78 Evaluated at bid price : 22.09 Bid-YTW : 4.41 % |
| TRP.PR.A | FixedReset Disc | 1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 17.20 Evaluated at bid price : 17.20 Bid-YTW : 4.44 % |
| BAM.PR.C | Floater | 1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 11.39 Evaluated at bid price : 11.39 Bid-YTW : 3.76 % |
| BAM.PR.K | Floater | 1.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 11.20 Evaluated at bid price : 11.20 Bid-YTW : 3.82 % |
| NA.PR.S | FixedReset Disc | 1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 22.64 Evaluated at bid price : 23.38 Bid-YTW : 3.73 % |
| BAM.PR.Z | FixedReset Disc | 1.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 22.44 Evaluated at bid price : 22.78 Bid-YTW : 4.42 % |
| BAM.PR.R | FixedReset Disc | 1.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 17.99 Evaluated at bid price : 17.99 Bid-YTW : 4.62 % |
| SLF.PR.G | FixedReset Ins Non | 2.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 15.10 Evaluated at bid price : 15.10 Bid-YTW : 3.82 % |
| BIP.PR.E | FixedReset Disc | 2.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 23.42 Evaluated at bid price : 24.60 Bid-YTW : 5.02 % |
| BAM.PF.B | FixedReset Disc | 3.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 21.08 Evaluated at bid price : 21.08 Bid-YTW : 4.49 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.O | FixedReset Ins Non | 726,803 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-06-19 Maturity Price : 25.00 Evaluated at bid price : 25.22 Bid-YTW : 1.95 % |
| CU.PR.C | FixedReset Disc | 154,095 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 20.62 Evaluated at bid price : 20.62 Bid-YTW : 4.17 % |
| BAM.PF.H | FixedReset Prem | 75,230 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 26.01 Bid-YTW : 4.03 % |
| MFC.PR.K | FixedReset Ins Non | 65,479 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 22.19 Evaluated at bid price : 22.53 Bid-YTW : 3.74 % |
| BNS.PR.H | FixedReset Prem | 61,963 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-01-26 Maturity Price : 25.00 Evaluated at bid price : 25.80 Bid-YTW : 1.85 % |
| IAF.PR.G | FixedReset Ins Non | 51,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-03-12 Maturity Price : 24.10 Evaluated at bid price : 24.49 Bid-YTW : 3.92 % |
| There were 24 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BAM.PR.K | Floater | Quote: 11.20 – 15.88 Spot Rate : 4.6800 Average : 2.5418 YTW SCENARIO |
| RY.PR.M | FixedReset Disc | Quote: 23.08 – 24.30 Spot Rate : 1.2200 Average : 0.7012 YTW SCENARIO |
| IFC.PR.C | FixedReset Ins Non | Quote: 22.90 – 23.80 Spot Rate : 0.9000 Average : 0.6138 YTW SCENARIO |
| GWO.PR.N | FixedReset Ins Non | Quote: 15.00 – 15.85 Spot Rate : 0.8500 Average : 0.5700 YTW SCENARIO |
| TRP.PR.C | FixedReset Disc | Quote: 13.26 – 14.02 Spot Rate : 0.7600 Average : 0.4970 YTW SCENARIO |
| RY.PR.J | FixedReset Disc | Quote: 23.80 – 24.50 Spot Rate : 0.7000 Average : 0.4598 YTW SCENARIO |