| 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 | 3.38 % | 3.98 % | 25,037 | 19.32 | 1 | -0.7858 % | 2,698.1 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.7063 % | 5,187.1 |
| Floater | 3.93 % | 4.02 % | 39,151 | 17.40 | 4 | 0.7063 % | 2,989.4 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1988 % | 3,613.4 |
| SplitShare | 4.65 % | 4.51 % | 43,826 | 3.50 | 6 | -0.1988 % | 4,315.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1988 % | 3,366.8 |
| Perpetual-Premium | 5.52 % | 5.31 % | 69,188 | 14.58 | 16 | 0.0990 % | 3,096.8 |
| Perpetual-Discount | 5.49 % | 5.52 % | 62,241 | 14.58 | 17 | -0.2268 % | 3,379.1 |
| FixedReset Disc | 4.40 % | 5.62 % | 129,814 | 14.74 | 49 | -1.0439 % | 2,612.8 |
| Insurance Straight | 5.44 % | 5.37 % | 89,477 | 14.67 | 20 | -0.0769 % | 3,300.0 |
| FloatingReset | 3.60 % | 3.89 % | 57,302 | 17.67 | 2 | -0.2055 % | 2,759.6 |
| FixedReset Prem | 4.87 % | 4.55 % | 149,732 | 2.16 | 19 | -0.0836 % | 2,649.9 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.0439 % | 2,670.8 |
| FixedReset Ins Non | 4.38 % | 5.58 % | 83,569 | 14.67 | 15 | 0.1207 % | 2,739.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| CM.PR.O | FixedReset Disc | -16.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 6.61 % |
| CM.PR.Q | FixedReset Disc | -12.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.17 % |
| MFC.PR.N | FixedReset Ins Non | -3.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 20.18 Evaluated at bid price : 20.18 Bid-YTW : 5.88 % |
| BMO.PR.T | FixedReset Disc | -3.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 5.65 % |
| NA.PR.E | FixedReset Disc | -3.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 22.51 Evaluated at bid price : 23.00 Bid-YTW : 5.58 % |
| CM.PR.P | FixedReset Disc | -2.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 5.60 % |
| BMO.PR.S | FixedReset Disc | -2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.52 Evaluated at bid price : 21.89 Bid-YTW : 5.55 % |
| PWF.PR.P | FixedReset Disc | -1.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 15.60 Evaluated at bid price : 15.60 Bid-YTW : 5.92 % |
| IFC.PR.C | FixedReset Disc | -1.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.34 Evaluated at bid price : 21.34 Bid-YTW : 5.67 % |
| CU.PR.E | Perpetual-Discount | -1.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 22.22 Evaluated at bid price : 22.50 Bid-YTW : 5.51 % |
| BAM.PF.B | FixedReset Disc | -1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.46 Evaluated at bid price : 21.46 Bid-YTW : 6.05 % |
| NA.PR.W | FixedReset Disc | -1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.30 Evaluated at bid price : 21.60 Bid-YTW : 5.42 % |
| TRP.PR.C | FixedReset Disc | -1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 14.16 Evaluated at bid price : 14.16 Bid-YTW : 6.44 % |
| RY.PR.J | FixedReset Disc | -1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 22.15 Evaluated at bid price : 22.57 Bid-YTW : 5.54 % |
| BIP.PR.A | FixedReset Disc | -1.26 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-06-30 Maturity Price : 25.00 Evaluated at bid price : 23.60 Bid-YTW : 5.99 % |
| BMO.PR.W | FixedReset Disc | -1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.48 Evaluated at bid price : 21.48 Bid-YTW : 5.53 % |
| BNS.PR.I | FixedReset Disc | -1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 23.81 Evaluated at bid price : 24.15 Bid-YTW : 5.20 % |
| PWF.PR.K | Perpetual-Discount | -1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.89 Evaluated at bid price : 22.13 Bid-YTW : 5.60 % |
| RY.PR.S | FixedReset Disc | -1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 23.82 Evaluated at bid price : 24.15 Bid-YTW : 5.21 % |
| CM.PR.Y | FixedReset Prem | -1.17 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2024-07-31 Maturity Price : 25.00 Evaluated at bid price : 25.30 Bid-YTW : 4.53 % |
| PVS.PR.I | SplitShare | -1.17 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-10-31 Maturity Price : 25.00 Evaluated at bid price : 25.45 Bid-YTW : 4.37 % |
| PWF.PR.S | Perpetual-Discount | -1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.49 Evaluated at bid price : 21.75 Bid-YTW : 5.52 % |
| TRP.PR.B | FixedReset Disc | -1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 13.35 Evaluated at bid price : 13.35 Bid-YTW : 6.51 % |
| BAM.PR.X | FixedReset Disc | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 5.95 % |
| SLF.PR.H | FixedReset Ins Non | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 5.58 % |
| CU.PR.F | Perpetual-Discount | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.26 Evaluated at bid price : 21.26 Bid-YTW : 5.37 % |
| CU.PR.H | Perpetual-Premium | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 23.96 Evaluated at bid price : 24.30 Bid-YTW : 5.46 % |
| MFC.PR.C | Insurance Straight | 1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 5.35 % |
| SLF.PR.G | FixedReset Ins Non | 1.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 16.05 Evaluated at bid price : 16.05 Bid-YTW : 5.66 % |
| TD.PF.E | FixedReset Disc | 1.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 22.47 Evaluated at bid price : 23.15 Bid-YTW : 5.38 % |
| FTS.PR.H | FixedReset Disc | 1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 15.55 Evaluated at bid price : 15.55 Bid-YTW : 5.92 % |
| PWF.PR.A | Floater | 2.74 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 3.77 % |
| MFC.PR.K | FixedReset Ins Non | 3.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 22.21 Evaluated at bid price : 22.59 Bid-YTW : 5.34 % |
| TRP.PR.A | FixedReset Disc | 3.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 17.78 Evaluated at bid price : 17.78 Bid-YTW : 6.18 % |
| BAM.PR.T | FixedReset Disc | 3.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 19.69 Evaluated at bid price : 19.69 Bid-YTW : 5.89 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| IFC.PR.K | Perpetual-Premium | 178,644 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 24.54 Evaluated at bid price : 24.93 Bid-YTW : 5.31 % |
| TRP.PR.A | FixedReset Disc | 23,845 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 17.78 Evaluated at bid price : 17.78 Bid-YTW : 6.18 % |
| TRP.PR.K | FixedReset Prem | 20,835 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-05-31 Maturity Price : 25.00 Evaluated at bid price : 25.23 Bid-YTW : 2.67 % |
| TRP.PR.E | FixedReset Disc | 18,665 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 6.21 % |
| TRP.PR.D | FixedReset Disc | 17,465 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-14 Maturity Price : 19.42 Evaluated at bid price : 19.42 Bid-YTW : 6.28 % |
| CM.PR.R | FixedReset Prem | 17,096 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-07-31 Maturity Price : 25.00 Evaluated at bid price : 24.95 Bid-YTW : 4.55 % |
| There were 11 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| CM.PR.O | FixedReset Disc | Quote: 18.00 – 21.66 Spot Rate : 3.6600 Average : 2.5019 YTW SCENARIO |
| IAF.PR.B | Insurance Straight | Quote: 22.50 – 25.00 Spot Rate : 2.5000 Average : 1.4118 YTW SCENARIO |
| CM.PR.Q | FixedReset Disc | Quote: 20.00 – 23.13 Spot Rate : 3.1300 Average : 2.0434 YTW SCENARIO |
| BAM.PR.M | Perpetual-Discount | Quote: 21.20 – 22.25 Spot Rate : 1.0500 Average : 0.6076 YTW SCENARIO |
| NA.PR.E | FixedReset Disc | Quote: 23.00 – 23.86 Spot Rate : 0.8600 Average : 0.5428 YTW SCENARIO |
| CM.PR.P | FixedReset Disc | Quote: 21.00 – 21.88 Spot Rate : 0.8800 Average : 0.6658 YTW SCENARIO |
There are so many investment grade preferreds now yielding 5% or so ie like a 6.5% bond
What are we missing?
Are we headed for even higher inflation?
default risks?
Banks just went on a hiring binge
I am buying and not looking at the losses and hoping for the best