TXPR closed at 554.08, up 1.04% on the day. Volume today was 1.65-million, well above the median of the past 21 trading days.
CPD closed at 11.05, up 1.00% on the day. Volume was 138,780, second-highest of the past 21 trading days.
ZPR closed at 9.30, up 0.87% on the day. Volume was 563,620, highest of the past 21 trading days and more than double that of the second-highest.
Five-year Canada yields were down precipitously to 3.34% today.
Equities had an even hotter day:
Investors stampeded back into stocks Thursday, and sent bond yields to their biggest daily decline in more than a decade, after U.S. consumer price data suggested the Federal Reserve may be reaching a turning point in its battle against stubborn inflation.
…
Both Wall Street and Bay Street saw their biggest advance since April 2020. The S&P 500 jumped 5.5% and the Dow Jones Industrial Average rose just over 1,200 points. The tech-heavy Nasdaq, which is particularly sensitive to the path of interest rates, rallied 7.3%. The Canadian benchmark stock index rose 3.3%, closing at its highest level since Aug. 25.Even bitcoin surged, recovering nearly all its losses from Wednesday when a failed buyout for a troubled cryptocurrency exchange sent shockwaves through the sector.
…
For the next Bank of Canada policy meeting on Dec. 7, the market is now pricing in a 73% probability of a 25-basis-point hike in its overnight rate, versus 54% odds prior to the data, as bets of a larger 50-basis-point hike declined, according to Refinitiv Eikon data.The U.S. 10-year Treasury yield dropped about 30 basis points to a five-week low of 3.813%, its largest daily fall since March 2009. Canada’s five-year government bond – influential in the setting of mortgage rates – fell 26 basis points to 3.336%. The U.S. dollar plummeted, sending the Canadian dollar up 1.2% to a seven-week high of 74.79 cents US.
Lower bond yields and expectations central banks are nearly at the end of their rate-hiking cycle provided a shot of confidence to market bulls who have been arguing the recovery in equity markets is only in its early stages. But most agreed several more months of declining inflation numbers would be needed to confirm the trend.
So, yes, there was an encouraging US inflation number:
Consumer Price Index data released on Thursday showed that inflation cooled more than expected in October, welcome news for the Federal Reserve and White House after months of limited progress on bringing down inflation.
While inflation is still rapid, it slowed notably last month. Consumer prices picked up by 7.7 percent in the year through October, less than the 7.9 percent that analysts had expected, and down from 8.2 percent in the year through September. On a monthly basis, price gains climbed by 0.4 percent between September and October, matching the previous month.
After stripping out food and fuel, both of which jump around in price, a “core” inflation index decelerated to 6.3 percent on an annual basis, down from 6.6 percent in the prior reading.
…
Market expectations for where interest rates will move to next year dropped from a peak of over 5 percent to around 4.9 percent, as investors dialed back expectations of the number of interest rate increases to come.The two-year Treasury yield, which is sensitive to changes in Fed policy, plummeted by more than 0.2 percent, to around 4.4 percent. The dollar also fell swiftly, down 1 percent against a basket of currencies that represent America’s major trading partners.
…
Food prices continued to grow in October, inflating grocery bills for American households, though at a slightly slower pace than in previous months. The price of food rose 0.6 percent last month, down from 0.8 percent growth in September.While prices of some items have retreated after spiking earlier this year, others are reaching fresh highs. The price of cereals and bakery products climbed 0.8 percent from the previous month, driven by a 2 percent increase in the price of flour. Lunch meats rose 3.4 percent from September and lettuce increased by 3.3 percent. The price of eggs, which have been inflated this year because of an outbreak of avian flu, soared 10.1 percent on the month.
But the price of some products began to fall after peaking earlier this year. The price of frankfurters fell 2.3 percent. Whole milk fell 0.9 percent, and fresh fruits declined 2.4 percent.
On an annual basis, the food index rose 10.9 percent, down slightly compared with the pace of growth last month.
Some support for the official numbers was provided by the Fed’s Underlying Inflation Gauge:
- The UIG “full data set” measure for October is currently estimated at 4.2%, a 0.3 percentage point decrease from the current estimate of the previous month.
- The “prices-only” measure for October is currently estimated at 5.7%, a 0.3 percentage point decrease from the current estimate of the previous month.
- The twelve-month change in the October CPI was +7.7%, a 0.5 percentage point decrease from the previous month.
- -For October 2022, trend CPI inflation is estimated to be in the 4.2% to 5.7% range, a similar range to September, with a 0.3% decrease on its lower and upper bounds.
The “prices-only” underlying inflation gauge (UIG) is derived from a large number of disaggregated price series in the consumer price index (CPI), while the “full data set” measure incorporates additional macroeconomic and financial variables. For a list of the series employed, see the data appendix.
But Tiff Macklem was not so sunny:
Bank of Canada governor Tiff Macklem said that unemployment needs to rise in order to slow down inflation, although elevated levels of job vacancies could soften the blow.
In a speech in Toronto hosted by the Public Policy Forum, Mr. Macklem said that Canada’s labour market is overheating, with unemployment near a record low and businesses struggling to find workers. This is feeding through into inflation, as companies bid up wages to compete for employees.
“We need to rebalance the labour market,” Mr. Macklem said. “This will be a difficult adjustment. We want to do this in the best way possible for Canadian workers and businesses.”
Mr. Macklem’s comments come on the heels of a blowout jobs report last Friday. Employment jumped by 108,000 in October, recouping all of the jobs lost during the summer slowdown. Average hourly wages were up 5.6 per cent that month compared to the previous year, while the rate of unemployment remained steady at 5.2 per cent as work force participation rose.
…
“The unemployment rate in June hit a record low – and while that seems like a good thing, it is not sustainable,” Mr. Macklem said. “The tightness in the labour market is a symptom of the general imbalance between demand and supply that is fuelling inflation and hurting all Canadians.”
And it appears that troubles in the construction & development industry are worsening:
Romspen, one of Canada’s biggest private mortgage lenders, with $3.2-billion in assets under management, is freezing investor redemptions, citing some trouble with loan repayments.
The act of freezing redemptions, known as “gating” in the investment industry, prevents investors from taking their money out of the fund. Because Romspen is a private lender, a preset mechanism for redemptions normally permits a certain amount to be paid back to investors each month.
The company has not said how long the freeze will last. Instead, it told investors this week that it will “temporarily defer payment of unit redemptions requests until there is more clarity with respect to the fund’s timetable for borrower loan repayments and the receipt of proceeds of collateral and asset monetizations.”
Romspen’s portfolio largely comprises construction and predevelopment loans, and it lends to borrowers across the United States and Canada. In its letter to investors, the company warned that “if redemption demands continue at high levels, the trustees may be compelled to institute other temporary liquidity management measures.”
| 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 | 0.9934 % | 2,344.9 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.9934 % | 4,497.6 |
| Floater | 8.53 % | 8.65 % | 58,329 | 10.66 | 2 | 0.9934 % | 2,592.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1681 % | 3,291.8 |
| SplitShare | 5.17 % | 7.61 % | 40,869 | 2.84 | 8 | -0.1681 % | 3,931.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1681 % | 3,067.2 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.7431 % | 2,589.5 |
| Perpetual-Discount | 6.58 % | 6.70 % | 78,212 | 12.94 | 34 | 1.7431 % | 2,823.7 |
| FixedReset Disc | 5.45 % | 7.55 % | 86,019 | 12.13 | 63 | 1.0246 % | 2,212.3 |
| Insurance Straight | 6.52 % | 6.68 % | 81,292 | 12.91 | 18 | 1.7553 % | 2,762.1 |
| FloatingReset | 9.33 % | 9.76 % | 37,925 | 9.67 | 2 | -0.8039 % | 2,504.0 |
| FixedReset Prem | 4.42 % | -3.65 % | 405,610 | 0.10 | 1 | 0.1990 % | 2,343.5 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.0246 % | 2,261.4 |
| FixedReset Ins Non | 5.45 % | 7.63 % | 47,021 | 12.06 | 14 | 0.5039 % | 2,304.3 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PF.H | FixedReset Disc | -3.05 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 23.80 Bid-YTW : 6.97 % |
| PVS.PR.J | SplitShare | -1.36 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 21.80 Bid-YTW : 7.60 % |
| SLF.PR.J | FloatingReset | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 15.10 Evaluated at bid price : 15.10 Bid-YTW : 9.31 % |
| CCS.PR.C | Insurance Straight | -1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.77 Evaluated at bid price : 18.77 Bid-YTW : 6.77 % |
| TD.PF.K | FixedReset Disc | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.92 Evaluated at bid price : 20.92 Bid-YTW : 7.08 % |
| GWO.PR.Q | Insurance Straight | 1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 6.79 % |
| TD.PF.B | FixedReset Disc | 1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.33 Evaluated at bid price : 17.33 Bid-YTW : 7.85 % |
| RY.PR.N | Perpetual-Discount | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.45 Evaluated at bid price : 20.45 Bid-YTW : 6.02 % |
| IAF.PR.I | FixedReset Ins Non | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 7.18 % |
| BAM.PF.E | FixedReset Disc | 1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 15.78 Evaluated at bid price : 15.78 Bid-YTW : 8.75 % |
| CM.PR.P | FixedReset Disc | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.35 Evaluated at bid price : 17.35 Bid-YTW : 7.71 % |
| MFC.PR.N | FixedReset Ins Non | 1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 16.95 Evaluated at bid price : 16.95 Bid-YTW : 7.97 % |
| GWO.PR.R | Insurance Straight | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.02 Evaluated at bid price : 18.02 Bid-YTW : 6.77 % |
| TD.PF.E | FixedReset Disc | 1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 7.18 % |
| GWO.PR.M | Insurance Straight | 1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.98 Evaluated at bid price : 22.21 Bid-YTW : 6.63 % |
| POW.PR.C | Perpetual-Discount | 1.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.86 Evaluated at bid price : 22.10 Bid-YTW : 6.64 % |
| POW.PR.G | Perpetual-Discount | 1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.09 Evaluated at bid price : 21.09 Bid-YTW : 6.73 % |
| MFC.PR.L | FixedReset Ins Non | 1.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 16.70 Evaluated at bid price : 16.70 Bid-YTW : 8.09 % |
| PWF.PR.O | Perpetual-Discount | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.28 Evaluated at bid price : 21.55 Bid-YTW : 6.78 % |
| CM.PR.S | FixedReset Disc | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.78 % |
| GWO.PR.L | Insurance Straight | 1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.30 Evaluated at bid price : 21.30 Bid-YTW : 6.75 % |
| BMO.PR.F | FixedReset Disc | 1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 22.93 Evaluated at bid price : 23.35 Bid-YTW : 7.17 % |
| PWF.PR.S | Perpetual-Discount | 1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.07 Evaluated at bid price : 18.07 Bid-YTW : 6.71 % |
| BAM.PR.B | Floater | 1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 12.28 Evaluated at bid price : 12.28 Bid-YTW : 8.65 % |
| TRP.PR.E | FixedReset Disc | 1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 15.65 Evaluated at bid price : 15.65 Bid-YTW : 8.74 % |
| PWF.PF.A | Perpetual-Discount | 1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 16.95 Evaluated at bid price : 16.95 Bid-YTW : 6.71 % |
| PWF.PR.H | Perpetual-Discount | 1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.48 Evaluated at bid price : 21.48 Bid-YTW : 6.76 % |
| GWO.PR.H | Insurance Straight | 1.55 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.34 Evaluated at bid price : 18.34 Bid-YTW : 6.72 % |
| PWF.PR.L | Perpetual-Discount | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.14 Evaluated at bid price : 19.14 Bid-YTW : 6.73 % |
| PWF.PR.G | Perpetual-Discount | 1.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.86 Evaluated at bid price : 22.10 Bid-YTW : 6.73 % |
| TD.PF.A | FixedReset Disc | 1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.36 Evaluated at bid price : 17.36 Bid-YTW : 7.74 % |
| BAM.PR.X | FixedReset Disc | 1.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 15.95 Evaluated at bid price : 15.95 Bid-YTW : 7.94 % |
| MFC.PR.F | FixedReset Ins Non | 1.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 12.71 Evaluated at bid price : 12.71 Bid-YTW : 8.25 % |
| PWF.PR.E | Perpetual-Discount | 1.76 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.82 Evaluated at bid price : 20.82 Bid-YTW : 6.67 % |
| PWF.PR.F | Perpetual-Discount | 1.76 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.64 Evaluated at bid price : 19.64 Bid-YTW : 6.75 % |
| PWF.PR.R | Perpetual-Discount | 1.76 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.76 Evaluated at bid price : 20.76 Bid-YTW : 6.69 % |
| RY.PR.H | FixedReset Disc | 1.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.85 Evaluated at bid price : 17.85 Bid-YTW : 7.56 % |
| BAM.PF.G | FixedReset Disc | 1.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 16.00 Evaluated at bid price : 16.00 Bid-YTW : 8.88 % |
| PWF.PR.K | Perpetual-Discount | 1.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.75 Evaluated at bid price : 18.75 Bid-YTW : 6.67 % |
| CM.PR.Q | FixedReset Disc | 1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.58 Evaluated at bid price : 18.58 Bid-YTW : 7.51 % |
| NA.PR.W | FixedReset Disc | 1.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.35 Evaluated at bid price : 17.35 Bid-YTW : 7.72 % |
| SLF.PR.D | Insurance Straight | 1.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.83 Evaluated at bid price : 17.83 Bid-YTW : 6.34 % |
| POW.PR.A | Perpetual-Discount | 1.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.15 Evaluated at bid price : 21.15 Bid-YTW : 6.71 % |
| BMO.PR.Y | FixedReset Disc | 1.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 7.49 % |
| RY.PR.Z | FixedReset Disc | 1.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.87 Evaluated at bid price : 17.87 Bid-YTW : 7.55 % |
| TD.PF.C | FixedReset Disc | 1.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.27 Evaluated at bid price : 17.27 Bid-YTW : 7.79 % |
| BAM.PF.F | FixedReset Disc | 1.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.21 Evaluated at bid price : 17.21 Bid-YTW : 8.71 % |
| POW.PR.B | Perpetual-Discount | 2.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.21 Evaluated at bid price : 20.21 Bid-YTW : 6.71 % |
| TRP.PR.A | FixedReset Disc | 2.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 14.60 Evaluated at bid price : 14.60 Bid-YTW : 8.61 % |
| TD.PF.L | FixedReset Disc | 2.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 23.36 Evaluated at bid price : 23.79 Bid-YTW : 6.86 % |
| MIC.PR.A | Perpetual-Discount | 2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.15 Evaluated at bid price : 19.15 Bid-YTW : 7.18 % |
| BMO.PR.T | FixedReset Disc | 2.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.27 Evaluated at bid price : 17.27 Bid-YTW : 7.78 % |
| GWO.PR.Y | Insurance Straight | 2.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.12 Evaluated at bid price : 17.12 Bid-YTW : 6.68 % |
| BIP.PR.F | FixedReset Disc | 2.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 7.56 % |
| NA.PR.S | FixedReset Disc | 2.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.84 Evaluated at bid price : 17.84 Bid-YTW : 7.86 % |
| BMO.PR.E | FixedReset Disc | 2.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.61 Evaluated at bid price : 22.00 Bid-YTW : 6.78 % |
| CU.PR.J | Perpetual-Discount | 2.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.90 Evaluated at bid price : 17.90 Bid-YTW : 6.66 % |
| CU.PR.H | Perpetual-Discount | 2.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.68 Evaluated at bid price : 19.68 Bid-YTW : 6.70 % |
| GWO.PR.T | Insurance Straight | 2.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 6.68 % |
| NA.PR.G | FixedReset Disc | 2.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.55 Evaluated at bid price : 20.55 Bid-YTW : 7.40 % |
| BIP.PR.B | FixedReset Disc | 2.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 22.24 Evaluated at bid price : 22.71 Bid-YTW : 8.15 % |
| SLF.PR.C | Insurance Straight | 2.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.82 Evaluated at bid price : 17.82 Bid-YTW : 6.34 % |
| BIP.PR.E | FixedReset Disc | 2.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 7.55 % |
| MFC.PR.B | Insurance Straight | 2.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.31 Evaluated at bid price : 18.31 Bid-YTW : 6.47 % |
| TRP.PR.D | FixedReset Disc | 2.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 16.07 Evaluated at bid price : 16.07 Bid-YTW : 8.70 % |
| RY.PR.M | FixedReset Disc | 2.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 7.28 % |
| IFC.PR.E | Insurance Straight | 2.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 6.41 % |
| BAM.PR.M | Perpetual-Discount | 2.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 6.67 % |
| TRP.PR.G | FixedReset Disc | 2.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 16.90 Evaluated at bid price : 16.90 Bid-YTW : 8.43 % |
| CU.PR.G | Perpetual-Discount | 3.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.05 Evaluated at bid price : 17.05 Bid-YTW : 6.62 % |
| TD.PF.D | FixedReset Disc | 3.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 19.06 Evaluated at bid price : 19.06 Bid-YTW : 7.40 % |
| CU.PR.E | Perpetual-Discount | 3.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 6.65 % |
| GWO.PR.I | Insurance Straight | 3.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.41 Evaluated at bid price : 17.41 Bid-YTW : 6.57 % |
| GWO.PR.P | Insurance Straight | 3.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 20.21 Evaluated at bid price : 20.21 Bid-YTW : 6.80 % |
| BAM.PR.N | Perpetual-Discount | 3.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.93 Evaluated at bid price : 17.93 Bid-YTW : 6.74 % |
| BAM.PF.D | Perpetual-Discount | 3.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.35 Evaluated at bid price : 18.35 Bid-YTW : 6.79 % |
| MFC.PR.C | Insurance Straight | 3.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 6.37 % |
| CIU.PR.A | Perpetual-Discount | 3.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.42 Evaluated at bid price : 17.42 Bid-YTW : 6.63 % |
| BMO.PR.S | FixedReset Disc | 4.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.16 Evaluated at bid price : 18.16 Bid-YTW : 7.60 % |
| CU.PR.F | Perpetual-Discount | 7.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.10 Evaluated at bid price : 17.10 Bid-YTW : 6.61 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| GWO.PR.Y | Insurance Straight | 79,712 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.12 Evaluated at bid price : 17.12 Bid-YTW : 6.68 % |
| BMO.PR.S | FixedReset Disc | 78,842 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.16 Evaluated at bid price : 18.16 Bid-YTW : 7.60 % |
| NA.PR.C | FixedReset Prem | 77,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-12-15 Maturity Price : 25.00 Evaluated at bid price : 25.18 Bid-YTW : -3.65 % |
| TRP.PR.B | FixedReset Disc | 75,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 11.45 Evaluated at bid price : 11.45 Bid-YTW : 8.92 % |
| GWO.PR.I | Insurance Straight | 31,675 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 17.41 Evaluated at bid price : 17.41 Bid-YTW : 6.57 % |
| FTS.PR.J | Perpetual-Discount | 28,330 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-11-10 Maturity Price : 18.55 Evaluated at bid price : 18.55 Bid-YTW : 6.55 % |
| There were 31 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| CU.PR.H | Perpetual-Discount | Quote: 19.68 – 22.10 Spot Rate : 2.4200 Average : 1.6860 YTW SCENARIO |
| BMO.PR.W | FixedReset Disc | Quote: 17.11 – 18.75 Spot Rate : 1.6400 Average : 1.2032 YTW SCENARIO |
| IFC.PR.I | Perpetual-Discount | Quote: 21.40 – 22.49 Spot Rate : 1.0900 Average : 0.7206 YTW SCENARIO |
| SLF.PR.E | Insurance Straight | Quote: 17.65 – 18.51 Spot Rate : 0.8600 Average : 0.5428 YTW SCENARIO |
| FTS.PR.K | FixedReset Disc | Quote: 16.85 – 17.58 Spot Rate : 0.7300 Average : 0.4890 YTW SCENARIO |
| GWO.PR.R | Insurance Straight | Quote: 18.02 – 18.68 Spot Rate : 0.6600 Average : 0.4500 YTW SCENARIO |