TXPR closed at 657.51, down 0.52% on the day. Volume today was 1.36-million, slightly below the median of the past 21 trading days.
CPD closed at 13.09, down 0.30% on the day. Volume was 56,090, below the median of the past 21 trading days.
ZPR closed at 10.95 down 0.46% on the day. Volume of 147,290 was near the median of the past 21 trading days.
Five-year Canada yields were up to 3.15% today. It’s nice to see a three-handle on the GOC-5 yield after so long!
| 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 | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1665 % | 2,696.2 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1665 % | 5,171.4 |
| Floater | 4.61 % | 4.69 % | 45,197 | 15.98 | 3 | 0.1665 % | 2,980.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1469 % | 3,534.0 |
| SplitShare | 4.81 % | 4.92 % | 35,848 | 3.21 | 8 | 0.1469 % | 4,220.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1469 % | 3,292.9 |
| Perpetual-Premium | 5.77 % | -17.35 % | 62,775 | 0.09 | 2 | -0.0591 % | 2,997.9 |
| Perpetual-Discount | 5.59 % | 5.70 % | 61,615 | 14.32 | 34 | -0.4586 % | 3,319.5 |
| FixedReset Disc | 4.39 % | 5.87 % | 119,459 | 13.91 | 57 | -0.1936 % | 2,660.7 |
| Insurance Straight | 5.53 % | 5.55 % | 93,529 | 14.62 | 19 | -0.9002 % | 3,251.2 |
| FloatingReset | 4.90 % | 5.07 % | 51,892 | 15.43 | 2 | 0.5979 % | 2,731.2 |
| FixedReset Prem | 4.99 % | 4.18 % | 120,376 | 2.02 | 9 | 0.2864 % | 2,643.3 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1936 % | 2,719.7 |
| FixedReset Ins Non | 4.30 % | 5.78 % | 70,455 | 14.21 | 15 | -0.7386 % | 2,792.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BMO.PR.W | FixedReset Disc | -8.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 6.41 % |
| SLF.PR.D | Insurance Straight | -8.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 19.87 Evaluated at bid price : 19.87 Bid-YTW : 5.61 % |
| MFC.PR.F | FixedReset Ins Non | -7.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 6.63 % |
| BAM.PF.E | FixedReset Disc | -7.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 7.27 % |
| MFC.PR.N | FixedReset Ins Non | -6.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.41 % |
| CU.PR.H | Perpetual-Discount | -6.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 22.19 Evaluated at bid price : 22.49 Bid-YTW : 5.87 % |
| BAM.PR.R | FixedReset Disc | -4.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 17.95 Evaluated at bid price : 17.95 Bid-YTW : 6.85 % |
| GWO.PR.T | Insurance Straight | -2.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 22.49 Evaluated at bid price : 22.85 Bid-YTW : 5.63 % |
| GWO.PR.H | Insurance Straight | -2.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 5.72 % |
| BAM.PF.G | FixedReset Disc | -1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 6.54 % |
| SLF.PR.C | Insurance Straight | -1.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.09 Evaluated at bid price : 21.09 Bid-YTW : 5.29 % |
| POW.PR.D | Perpetual-Discount | -1.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.89 Evaluated at bid price : 22.13 Bid-YTW : 5.73 % |
| BAM.PF.A | FixedReset Disc | -1.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 23.33 Evaluated at bid price : 23.80 Bid-YTW : 6.32 % |
| GWO.PR.I | Insurance Straight | -1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 20.22 Evaluated at bid price : 20.22 Bid-YTW : 5.58 % |
| PWF.PR.Z | Perpetual-Discount | -1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 22.65 Evaluated at bid price : 23.04 Bid-YTW : 5.64 % |
| BAM.PR.M | Perpetual-Discount | -1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.28 Evaluated at bid price : 21.55 Bid-YTW : 5.60 % |
| POW.PR.G | Perpetual-Discount | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 24.46 Evaluated at bid price : 24.70 Bid-YTW : 5.75 % |
| PWF.PR.R | Perpetual-Discount | -1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 23.75 Evaluated at bid price : 24.06 Bid-YTW : 5.78 % |
| PWF.PR.L | Perpetual-Discount | -1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 22.18 Evaluated at bid price : 22.46 Bid-YTW : 5.74 % |
| POW.PR.B | Perpetual-Discount | -1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 23.48 Evaluated at bid price : 23.75 Bid-YTW : 5.71 % |
| TRP.PR.C | FixedReset Disc | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 14.84 Evaluated at bid price : 14.84 Bid-YTW : 6.83 % |
| IFC.PR.F | Insurance Straight | 1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 23.21 Evaluated at bid price : 23.67 Bid-YTW : 5.68 % |
| PWF.PF.A | Perpetual-Discount | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.30 % |
| TRP.PR.D | FixedReset Disc | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 20.80 Evaluated at bid price : 20.80 Bid-YTW : 6.45 % |
| TRP.PR.E | FixedReset Disc | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 20.40 Evaluated at bid price : 20.40 Bid-YTW : 6.45 % |
| PWF.PR.T | FixedReset Disc | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.53 Evaluated at bid price : 21.90 Bid-YTW : 6.14 % |
| TRP.PR.G | FixedReset Disc | 1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.93 Evaluated at bid price : 22.30 Bid-YTW : 6.14 % |
| FTS.PR.K | FixedReset Disc | 1.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.33 % |
| BMO.PR.Y | FixedReset Disc | 1.57 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 22.23 Evaluated at bid price : 22.70 Bid-YTW : 5.84 % |
| RY.PR.H | FixedReset Disc | 1.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 22.20 Evaluated at bid price : 22.50 Bid-YTW : 5.74 % |
| BAM.PR.T | FixedReset Disc | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 19.86 Evaluated at bid price : 19.86 Bid-YTW : 6.32 % |
| IFC.PR.I | Perpetual-Discount | 2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 23.90 Evaluated at bid price : 24.30 Bid-YTW : 5.64 % |
| BAM.PF.I | FixedReset Prem | 2.57 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.95 Bid-YTW : 4.76 % |
| CU.PR.G | Perpetual-Discount | 3.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 20.55 Evaluated at bid price : 20.55 Bid-YTW : 5.52 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| CM.PR.R | FixedReset Disc | 68,167 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-07-31 Maturity Price : 25.00 Evaluated at bid price : 25.10 Bid-YTW : 4.91 % |
| IFC.PR.G | FixedReset Ins Non | 42,624 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 24.20 Evaluated at bid price : 24.62 Bid-YTW : 5.78 % |
| PWF.PR.R | Perpetual-Discount | 28,628 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 23.75 Evaluated at bid price : 24.06 Bid-YTW : 5.78 % |
| BMO.PR.E | FixedReset Disc | 23,556 | YTW SCENARIO Maturity Type : Call Maturity Date : 2023-11-25 Maturity Price : 25.00 Evaluated at bid price : 24.85 Bid-YTW : 5.42 % |
| MFC.PR.B | Insurance Straight | 16,857 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-06-06 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 5.29 % |
| TD.PF.J | FixedReset Disc | 15,678 | YTW SCENARIO Maturity Type : Call Maturity Date : 2023-04-30 Maturity Price : 25.00 Evaluated at bid price : 25.00 Bid-YTW : 5.26 % |
| There were 16 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| SLF.PR.J | FloatingReset | Quote: 16.15 – 25.00 Spot Rate : 8.8500 Average : 4.7359 YTW SCENARIO |
| CM.PR.O | FixedReset Disc | Quote: 22.17 – 24.50 Spot Rate : 2.3300 Average : 1.3281 YTW SCENARIO |
| MFC.PR.N | FixedReset Ins Non | Quote: 20.00 – 21.75 Spot Rate : 1.7500 Average : 1.0639 YTW SCENARIO |
| BMO.PR.W | FixedReset Disc | Quote: 20.05 – 22.48 Spot Rate : 2.4300 Average : 1.7545 YTW SCENARIO |
| MFC.PR.F | FixedReset Ins Non | Quote: 15.00 – 16.59 Spot Rate : 1.5900 Average : 1.0709 YTW SCENARIO |
| BAM.PF.E | FixedReset Disc | Quote: 18.40 – 20.73 Spot Rate : 2.3300 Average : 1.8129 YTW SCENARIO |
I have a few comments about this blog, and a question to follow.
Firstly, this venue is almost certainly the most concise, up to date, and worthwhile resource not only for the highly specific world of Canadian pref investing, but for general financial insights as well. How any one individual can keep this stream of information available, on a daily basis, and for such a long time, is beyond me. I’ve been following this blog for a very long time; a true “go to” resource that I would miss, if it ever vanishes. I never imagined so many pictures of bomb blasts, and rainbow scenes were out there as well! I truly believe that if investors, especially those in the early stages of participation in the financial markets, read this blog every day . . . the market would be a better place!
The other reason I’ve laid out these somewhat ingratiating, but very accurate observations is to ask this question:
Is anyone aware of anything even marginally close to this venue, that addresses the world of REITs? I’m sure that many pref investing “assiduous readers” have some involvement in this investing area, since it kind of resembles pref investing in many ways.
James, . . . maybe in your spare time (just kidding!), it might be time to introduce . . . REITBlog?
“The other reason I’ve laid out these somewhat ingratiating, but very accurate observations …”
Convictions are more dangerous foes of truth than lies. – Friedrich Nietzsche
?? I’m not sure what that reply has to do with REITs information . . .
ratchetrick, you might want to look at the YouTube videos posted by Mark Meldrum (https://www.youtube.com/c/MarkMeldrumPhD). In the past Mark was a big REIT investor. More recently he has been focused more on other market areas, but he did talk about CAP REIT in a recent video a week or two ago. Lately he posts once a week on the weekend. His comments are usually interesting and insightful.