TXPR closed at 616.88, hitting a new 52-week low on the day, down 1.02% on the day. Volume today was 2.54-million, above the median of the past 21 trading days.
CPD closed at 12.23, hitting a new 52-week low on the day, down 1.29% on the day. Volume was 117,270, third-highest of the past 21 trading days, behind April 7 and April 8.
ZPR closed at 10.27, hitting a new 52-week low on the day, down 1.91% on the day. Volume of 378,350 was well above the median of the past 21 trading days.
Five-year Canada yields were down 12bp to 2.60% today.
The tech-heavy Nasdaq index has now fallen 22% from its record high close last November, meeting the definition of a bear market which begins with a decline of 20% from recent highs.
…
Tesla contributed more than any other stock to the S&P 500 and Nasdaq’s steep declines. Tesla slumped 12% after investors worried that chief executive Elon Musk might sell some of his stake in the electric car maker to help pay for his $44 billion deal to buy Twitter, announced on Monday.
…
In Canada S&P/TSX composite index ended down 321.08 points, or 1.5%, at 20,690.81.
…
The Toronto market’s technology sector fell 3.7%, while heavily-weighted financials ended 1.8% lower.The industrials group was down 1.7%, weighed by a 7.3% decline for shares of Air Canada after the airline reported a larger-than-expected quarterly loss and said it is adding capacity to meet a rebound in spring traffic.
Energy was a bright spot, gaining 0.8% as oil prices rallied. U.S. crude oil futures settled 3.2% higher at $101.70 a barrel.
| 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 | 3.68 % | 4.36 % | 25,559 | 18.70 | 1 | -2.1739 % | 2,564.2 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.7846 % | 4,830.6 |
| Floater | 4.22 % | 4.30 % | 34,033 | 16.81 | 4 | -0.7846 % | 2,783.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.6259 % | 3,542.4 |
| SplitShare | 4.74 % | 5.11 % | 48,641 | 3.45 | 6 | -0.6259 % | 4,230.3 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.6259 % | 3,300.7 |
| Perpetual-Premium | 5.83 % | 5.97 % | 74,009 | 13.94 | 16 | 0.1719 % | 2,929.7 |
| Perpetual-Discount | 5.85 % | 5.93 % | 67,110 | 13.96 | 17 | 0.2600 % | 3,170.8 |
| FixedReset Disc | 4.66 % | 5.98 % | 132,886 | 14.19 | 49 | -2.4485 % | 2,465.8 |
| Insurance Straight | 5.75 % | 5.93 % | 99,068 | 14.01 | 20 | 0.3032 % | 3,119.8 |
| FloatingReset | 4.62 % | 4.98 % | 67,133 | 15.53 | 2 | -1.2154 % | 2,638.7 |
| FixedReset Prem | 4.92 % | 5.20 % | 144,708 | 2.13 | 19 | -0.3477 % | 2,621.2 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -2.4485 % | 2,520.5 |
| FixedReset Ins Non | 4.65 % | 5.94 % | 84,534 | 14.04 | 15 | -1.3589 % | 2,581.2 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| TD.PF.A | FixedReset Disc | -6.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 6.17 % |
| MFC.PR.N | FixedReset Ins Non | -5.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 6.31 % |
| SLF.PR.H | FixedReset Ins Non | -5.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 17.75 Evaluated at bid price : 17.75 Bid-YTW : 6.19 % |
| FTS.PR.M | FixedReset Disc | -5.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 18.75 Evaluated at bid price : 18.75 Bid-YTW : 6.72 % |
| BAM.PR.T | FixedReset Disc | -4.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 17.85 Evaluated at bid price : 17.85 Bid-YTW : 6.56 % |
| MFC.PR.F | FixedReset Ins Non | -4.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 14.95 Evaluated at bid price : 14.95 Bid-YTW : 6.18 % |
| BMO.PR.W | FixedReset Disc | -4.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 5.92 % |
| BAM.PR.R | FixedReset Disc | -3.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 17.11 Evaluated at bid price : 17.11 Bid-YTW : 6.68 % |
| BAM.PF.G | FixedReset Disc | -3.74 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.32 Evaluated at bid price : 19.32 Bid-YTW : 6.62 % |
| CM.PR.P | FixedReset Disc | -3.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.02 Evaluated at bid price : 20.02 Bid-YTW : 5.95 % |
| CU.PR.C | FixedReset Disc | -3.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.95 Evaluated at bid price : 20.95 Bid-YTW : 6.17 % |
| TD.PF.D | FixedReset Disc | -3.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 5.94 % |
| BAM.PR.Z | FixedReset Disc | -3.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.84 Evaluated at bid price : 22.33 Bid-YTW : 6.33 % |
| BAM.PF.A | FixedReset Disc | -3.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.67 Evaluated at bid price : 22.10 Bid-YTW : 6.32 % |
| BAM.PF.E | FixedReset Disc | -3.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 18.62 Evaluated at bid price : 18.62 Bid-YTW : 6.68 % |
| TD.PF.B | FixedReset Disc | -3.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.01 Evaluated at bid price : 20.01 Bid-YTW : 5.98 % |
| TD.PF.E | FixedReset Disc | -3.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 5.93 % |
| RY.PR.M | FixedReset Disc | -3.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 5.92 % |
| BAM.PR.X | FixedReset Disc | -3.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 6.58 % |
| PWF.PR.T | FixedReset Disc | -3.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.08 % |
| FTS.PR.G | FixedReset Disc | -3.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 6.40 % |
| CM.PR.S | FixedReset Disc | -3.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.82 Evaluated at bid price : 22.30 Bid-YTW : 5.72 % |
| MFC.PR.L | FixedReset Ins Non | -2.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.45 Evaluated at bid price : 19.45 Bid-YTW : 6.13 % |
| FTS.PR.H | FixedReset Disc | -2.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 14.41 Evaluated at bid price : 14.41 Bid-YTW : 6.47 % |
| RY.PR.H | FixedReset Disc | -2.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 5.88 % |
| MFC.PR.M | FixedReset Ins Non | -2.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.91 Evaluated at bid price : 19.91 Bid-YTW : 6.16 % |
| TD.PF.C | FixedReset Disc | -2.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 5.95 % |
| FTS.PR.K | FixedReset Disc | -2.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 17.91 Evaluated at bid price : 17.91 Bid-YTW : 6.59 % |
| RY.PR.J | FixedReset Disc | -2.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.18 Evaluated at bid price : 21.18 Bid-YTW : 5.93 % |
| BAM.PF.F | FixedReset Disc | -2.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 6.65 % |
| TRP.PR.A | FixedReset Disc | -2.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 16.25 Evaluated at bid price : 16.25 Bid-YTW : 6.86 % |
| NA.PR.E | FixedReset Disc | -2.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.88 Evaluated at bid price : 22.40 Bid-YTW : 5.82 % |
| BAM.PF.B | FixedReset Disc | -2.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.59 % |
| MFC.PR.K | FixedReset Ins Non | -2.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.77 Evaluated at bid price : 20.77 Bid-YTW : 5.93 % |
| TD.PF.K | FixedReset Disc | -2.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.85 Evaluated at bid price : 22.38 Bid-YTW : 5.83 % |
| TRP.PR.G | FixedReset Disc | -2.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 6.37 % |
| BMO.PR.T | FixedReset Disc | -2.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.02 % |
| IFC.PR.C | FixedReset Disc | -2.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.97 % |
| RY.PR.Z | FixedReset Disc | -2.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.34 Evaluated at bid price : 20.34 Bid-YTW : 5.85 % |
| BMO.PR.S | FixedReset Disc | -2.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 5.78 % |
| NA.PR.G | FixedReset Prem | -2.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.75 Evaluated at bid price : 23.16 Bid-YTW : 5.83 % |
| MFC.PR.I | FixedReset Ins Non | -2.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.50 Evaluated at bid price : 23.45 Bid-YTW : 5.92 % |
| BAM.PR.E | Ratchet | -2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 25.00 Evaluated at bid price : 18.00 Bid-YTW : 4.36 % |
| BNS.PR.I | FixedReset Disc | -2.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.40 Evaluated at bid price : 22.75 Bid-YTW : 5.60 % |
| BMO.PR.Y | FixedReset Disc | -2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 5.84 % |
| PVS.PR.J | SplitShare | -2.03 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 24.15 Bid-YTW : 5.23 % |
| PWF.PR.R | Perpetual-Premium | -2.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.76 Evaluated at bid price : 23.04 Bid-YTW : 5.99 % |
| BAM.PF.J | FixedReset Prem | -1.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 23.50 Evaluated at bid price : 24.15 Bid-YTW : 5.99 % |
| BMO.PR.E | FixedReset Disc | -1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.89 Evaluated at bid price : 23.30 Bid-YTW : 5.78 % |
| IFC.PR.A | FixedReset Ins Non | -1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 6.00 % |
| BIP.PR.B | FixedReset Prem | -1.69 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.56 Bid-YTW : 4.97 % |
| TRP.PR.B | FixedReset Disc | -1.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 12.90 Evaluated at bid price : 12.90 Bid-YTW : 6.84 % |
| TRP.PR.E | FixedReset Disc | -1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 6.79 % |
| IFC.PR.F | Insurance Straight | -1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.86 Evaluated at bid price : 23.26 Bid-YTW : 5.74 % |
| BAM.PR.B | Floater | -1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 13.03 Evaluated at bid price : 13.03 Bid-YTW : 4.33 % |
| FTS.PR.F | Perpetual-Discount | -1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.54 Evaluated at bid price : 21.80 Bid-YTW : 5.70 % |
| GWO.PR.I | Insurance Straight | -1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 5.93 % |
| SLF.PR.G | FixedReset Ins Non | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 14.85 Evaluated at bid price : 14.85 Bid-YTW : 6.20 % |
| RY.PR.S | FixedReset Disc | -1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.65 Evaluated at bid price : 23.00 Bid-YTW : 5.46 % |
| CM.PR.O | FixedReset Disc | -1.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.07 Evaluated at bid price : 20.07 Bid-YTW : 6.02 % |
| SLF.PR.J | FloatingReset | -1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 4.33 % |
| TRP.PR.F | FloatingReset | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 16.51 Evaluated at bid price : 16.51 Bid-YTW : 4.98 % |
| FTS.PR.J | Perpetual-Discount | -1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 5.74 % |
| IFC.PR.E | Insurance Straight | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.41 Evaluated at bid price : 22.75 Bid-YTW : 5.76 % |
| BAM.PR.K | Floater | -1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 13.09 Evaluated at bid price : 13.09 Bid-YTW : 4.31 % |
| BAM.PR.C | Floater | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 13.14 Evaluated at bid price : 13.14 Bid-YTW : 4.30 % |
| PVS.PR.K | SplitShare | -1.02 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 24.15 Bid-YTW : 5.11 % |
| CU.PR.J | Perpetual-Discount | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.31 Evaluated at bid price : 20.31 Bid-YTW : 5.95 % |
| CU.PR.G | Perpetual-Discount | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 5.92 % |
| BIP.PR.E | FixedReset Prem | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 23.52 Evaluated at bid price : 24.08 Bid-YTW : 5.90 % |
| GWO.PR.T | Insurance Straight | 1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.60 Evaluated at bid price : 21.90 Bid-YTW : 5.93 % |
| PWF.PR.L | Perpetual-Discount | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.35 Evaluated at bid price : 21.62 Bid-YTW : 5.92 % |
| IAF.PR.G | FixedReset Ins Non | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.48 Evaluated at bid price : 23.40 Bid-YTW : 5.93 % |
| GWO.PR.L | Insurance Straight | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 23.70 Evaluated at bid price : 24.01 Bid-YTW : 5.94 % |
| CCS.PR.C | Insurance Straight | 1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 23.33 Evaluated at bid price : 23.61 Bid-YTW : 5.34 % |
| SLF.PR.C | Insurance Straight | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 5.57 % |
| MFC.PR.J | FixedReset Ins Non | 1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.03 Evaluated at bid price : 22.64 Bid-YTW : 5.86 % |
| GWO.PR.M | Insurance Straight | 1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 24.15 Evaluated at bid price : 24.40 Bid-YTW : 6.00 % |
| MFC.PR.B | Insurance Straight | 1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.72 % |
| PWF.PR.G | Perpetual-Premium | 1.50 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-05-26 Maturity Price : 25.00 Evaluated at bid price : 25.00 Bid-YTW : 5.17 % |
| MFC.PR.C | Insurance Straight | 1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 5.65 % |
| CU.PR.H | Perpetual-Premium | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.36 Evaluated at bid price : 22.75 Bid-YTW : 5.85 % |
| BAM.PF.D | Perpetual-Discount | 1.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.05 % |
| BAM.PF.C | Perpetual-Discount | 2.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.99 % |
| RY.PR.N | Perpetual-Premium | 2.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 22.26 Evaluated at bid price : 22.65 Bid-YTW : 5.39 % |
| PWF.PR.P | FixedReset Disc | 2.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 14.41 Evaluated at bid price : 14.41 Bid-YTW : 6.47 % |
| NA.PR.W | FixedReset Disc | 3.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.63 Evaluated at bid price : 20.63 Bid-YTW : 5.78 % |
| PWF.PF.A | Perpetual-Discount | 3.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.61 Evaluated at bid price : 19.61 Bid-YTW : 5.77 % |
| GWO.PR.N | FixedReset Ins Non | 5.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 14.17 Evaluated at bid price : 14.17 Bid-YTW : 6.20 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| GWO.PR.Y | Insurance Straight | 301,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.55 Evaluated at bid price : 19.55 Bid-YTW : 5.82 % |
| MFC.PR.M | FixedReset Ins Non | 35,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 19.91 Evaluated at bid price : 19.91 Bid-YTW : 6.16 % |
| IFC.PR.K | Perpetual-Premium | 34,706 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 23.30 Evaluated at bid price : 23.60 Bid-YTW : 5.63 % |
| NA.PR.S | FixedReset Disc | 31,854 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 5.85 % |
| TRP.PR.D | FixedReset Disc | 29,354 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 6.83 % |
| IFC.PR.C | FixedReset Disc | 27,338 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-04-26 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.97 % |
| There were 34 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BAM.PF.A | FixedReset Disc | Quote: 22.10 – 24.00 Spot Rate : 1.9000 Average : 1.1891 YTW SCENARIO |
| GWO.PR.T | Insurance Straight | Quote: 21.90 – 24.00 Spot Rate : 2.1000 Average : 1.4065 YTW SCENARIO |
| FTS.PR.F | Perpetual-Discount | Quote: 21.80 – 23.74 Spot Rate : 1.9400 Average : 1.3342 YTW SCENARIO |
| PWF.PR.T | FixedReset Disc | Quote: 20.50 – 22.00 Spot Rate : 1.5000 Average : 0.9074 YTW SCENARIO |
| BAM.PR.Z | FixedReset Disc | Quote: 22.33 – 23.80 Spot Rate : 1.4700 Average : 0.9124 YTW SCENARIO |
| TD.PF.E | FixedReset Disc | Quote: 21.35 – 23.23 Spot Rate : 1.8800 Average : 1.3878 YTW SCENARIO |
Love the nuc (& especially the pot of gold and rainbow) pics! Just wanted to make an optimistic point since there’s a lot of disappointment in some of the performance of prefs in general lately . . .
On this day exactly one year ago, the GOC5 was yielding .68%. Right now, the yield is up another 8bp to 2.67%. Anyone who went long this bond a year ago, has lost easily well over half of their initial investment value. But most prefs are not down 50% over the same time period; in fact, most resets are down only 15-20% over that span. It would be fair to say, based on that performance, that prefs are clearly outperforming the broader fixed income market.
Potential pref investors looking to buy might therefore be very frustrated with the stubbornly high support level that’s keeping these prices up. For a typical pref, a move from a 5% yield to 6% would require a drop in price of around $5 per share . . . and this just hasn’t happened. It would be accurate to conclude that prefs have done a very good job insulating “long” investors from the highly volatile bond yield moves that always seem to track the various Central Bank mantra (and actual moves, of which there haven’t been many so far). If this market support can continue, reset prefs will be re-established as a far more secure fixed income investment than the GoC5 bond that they’re pegged to!
Well, thanks for the optimistic note.
Not all 1% fall in yields are equal.
Just ask the holders of a century Austrian bond yielding 2% 🙂
A fall from 4.5 to 5.75% is VERY painful, as so many holders of lifeco and utility perpetuals yielding 4.5% have discovered.
The next fall from 5.75% to 7%, if it were to happen, would be much less painful. Just fractions and arithmetic.
<>
Not even close.
A 5 year bond trading at par and yielding 0.68% one year ago
and now priced as a 4 year bond yielding 2.68%
would trade at $92.50.