TXPR closed at 544.36, up 0.52% on the day. Volume today was 556,320, lowest of the past 21 trading days.
CPD closed at 10.75, up 0.19% on the day. Volume was 90,700, second-lowest of the past 21 trading days.
ZPR closed at 9.04, up 0.22% on the day. Volume was 111,880, lowest of the past 21 trading days.
Five-year Canada yields were up a bit to 3.43% today.
Equities were down a bit today, but the annual figures got more attention:
U.S. and Canadian stocks ended the final trading session of 2022 lower on Friday, capping a year of sharp losses driven by aggressive interest rate hikes to curb inflation, recession fears, the Russia-Ukraine war and rising concerns over COVID cases in China.
Wall Street’s three main indexes booked their first yearly drop since 2018 as an era of loose monetary policy ended with the Federal Reserve’s fastest pace of rate hikes since the 1980s.
This also marked their biggest yearly declines since the 2008 financial crisis, largely driven by growth shares as the Fed’s rate hikes boosted U.S. Treasury yields and made stocks less attractive.
The TSX’s 2022 losses were less sharp, but the Canadian index still lost more than 8% this year, also its first annual decline since 2018.
| 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 | -0.1961 % | 2,445.8 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1961 % | 4,691.1 |
| Floater | 8.87 % | 8.94 % | 66,799 | 10.46 | 2 | -0.1961 % | 2,703.5 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1728 % | 3,263.7 |
| SplitShare | 5.21 % | 7.64 % | 61,311 | 2.74 | 8 | 0.1728 % | 3,897.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1728 % | 3,041.1 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0115 % | 2,638.6 |
| Perpetual-Discount | 6.46 % | 6.57 % | 101,895 | 13.11 | 35 | -0.0115 % | 2,877.3 |
| FixedReset Disc | 5.63 % | 7.89 % | 98,635 | 11.85 | 62 | 0.3410 % | 2,157.9 |
| Insurance Straight | 6.39 % | 6.51 % | 118,726 | 13.18 | 20 | 0.2333 % | 2,809.2 |
| FloatingReset | 10.10 % | 9.70 % | 35,480 | 9.79 | 2 | 1.7772 % | 2,417.1 |
| FixedReset Prem | 6.62 % | 6.66 % | 182,370 | 4.08 | 2 | -0.0992 % | 2,374.8 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3410 % | 2,205.8 |
| FixedReset Ins Non | 5.72 % | 8.12 % | 60,831 | 11.80 | 14 | 0.3746 % | 2,258.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| IFC.PR.I | Perpetual-Discount | -5.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.64 % |
| MFC.PR.C | Insurance Straight | -1.55 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 17.75 Evaluated at bid price : 17.75 Bid-YTW : 6.40 % |
| BN.PF.B | FixedReset Disc | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 16.11 Evaluated at bid price : 16.11 Bid-YTW : 9.19 % |
| BN.PR.M | Perpetual-Discount | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 17.80 Evaluated at bid price : 17.80 Bid-YTW : 6.73 % |
| TRP.PR.F | FloatingReset | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 14.78 Evaluated at bid price : 14.78 Bid-YTW : 10.73 % |
| BMO.PR.S | FixedReset Disc | 1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 7.92 % |
| MFC.PR.K | FixedReset Ins Non | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 17.15 Evaluated at bid price : 17.15 Bid-YTW : 8.18 % |
| MFC.PR.F | FixedReset Ins Non | 1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 12.70 Evaluated at bid price : 12.70 Bid-YTW : 8.30 % |
| TRP.PR.E | FixedReset Disc | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 14.70 Evaluated at bid price : 14.70 Bid-YTW : 9.30 % |
| NA.PR.E | FixedReset Disc | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 20.15 Evaluated at bid price : 20.15 Bid-YTW : 7.49 % |
| RY.PR.M | FixedReset Disc | 1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 18.05 Evaluated at bid price : 18.05 Bid-YTW : 7.57 % |
| GWO.PR.L | Insurance Straight | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 21.38 Evaluated at bid price : 21.65 Bid-YTW : 6.56 % |
| NA.PR.G | FixedReset Disc | 1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 7.19 % |
| BN.PR.X | FixedReset Disc | 1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 15.25 Evaluated at bid price : 15.25 Bid-YTW : 8.26 % |
| TRP.PR.D | FixedReset Disc | 1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 15.30 Evaluated at bid price : 15.30 Bid-YTW : 9.14 % |
| SLF.PR.D | Insurance Straight | 1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 6.19 % |
| TRP.PR.C | FixedReset Disc | 2.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 11.41 Evaluated at bid price : 11.41 Bid-YTW : 9.25 % |
| CM.PR.S | FixedReset Disc | 2.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 21.13 Evaluated at bid price : 21.13 Bid-YTW : 6.90 % |
| BIP.PR.E | FixedReset Disc | 2.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 19.97 Evaluated at bid price : 19.97 Bid-YTW : 8.05 % |
| BN.PF.H | FixedReset Disc | 2.18 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 23.40 Bid-YTW : 7.46 % |
| BN.PF.D | Perpetual-Discount | 2.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 18.30 Evaluated at bid price : 18.30 Bid-YTW : 6.75 % |
| MFC.PR.L | FixedReset Ins Non | 2.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 16.40 Evaluated at bid price : 16.40 Bid-YTW : 8.26 % |
| SLF.PR.J | FloatingReset | 2.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 9.70 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| RY.PR.S | FixedReset Disc | 55,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 7.34 % |
| RY.PR.Z | FixedReset Disc | 26,956 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 17.36 Evaluated at bid price : 17.36 Bid-YTW : 7.90 % |
| TD.PF.L | FixedReset Disc | 26,211 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 23.20 Evaluated at bid price : 23.67 Bid-YTW : 7.00 % |
| GWO.PR.N | FixedReset Ins Non | 17,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 12.05 Evaluated at bid price : 12.05 Bid-YTW : 8.42 % |
| TD.PF.B | FixedReset Disc | 13,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 17.29 Evaluated at bid price : 17.29 Bid-YTW : 7.99 % |
| CM.PR.S | FixedReset Disc | 13,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-12-30 Maturity Price : 21.13 Evaluated at bid price : 21.13 Bid-YTW : 6.90 % |
| There were 5 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| IFC.PR.I | Perpetual-Discount | Quote: 20.50 – 22.18 Spot Rate : 1.6800 Average : 1.0976 YTW SCENARIO |
| BN.PF.F | FixedReset Disc | Quote: 16.40 – 17.75 Spot Rate : 1.3500 Average : 0.8089 YTW SCENARIO |
| RY.PR.S | FixedReset Disc | Quote: 19.65 – 20.55 Spot Rate : 0.9000 Average : 0.5747 YTW SCENARIO |
| BN.PF.I | FixedReset Disc | Quote: 22.50 – 23.40 Spot Rate : 0.9000 Average : 0.6167 YTW SCENARIO |
| TRP.PR.C | FixedReset Disc | Quote: 11.41 – 12.20 Spot Rate : 0.7900 Average : 0.5451 YTW SCENARIO |
| BN.PF.A | FixedReset Disc | Quote: 18.37 – 19.16 Spot Rate : 0.7900 Average : 0.5492 YTW SCENARIO |