TXPR closed at 506.60, up 1.61% on the day and taking us all the way back to where we were on October 13! Volume today was 1.62-million, above the median of the past 21 trading days.
CPD closed at 10.13, up 2.01% on the day. Volume was 107,310, third-highest of the past 21 trading days.
ZPR closed at 8.50, up 1.68% on the day. Volume was 122,200, below the median of the past 21 trading days.
Five-year Canada yields were down to 3.98%.
Is it all about declining yields?
North American main stock indexes rallied Thursday on hopes that the Federal Reserve had reached the end of its tightening campaign, while a raft of upbeat corporate updates added to the bullish mood in both Canada and the U.S. The Canadian benchmark stock index achieved its biggest daily gain in a year, closing up 2.8%, aided by a 21.3% surge in shares of tech heavyweight Shopify.
The Fed held interest rates steady on Wednesday as expected, and while Chair Jerome Powell left the door open to further tightening he also acknowledged the impact of a recent surge in bond yields on the economy.
The comments, viewed as hints that the central bank is done with its rate hikes, sent longer-dated U.S. Treasury yields tumbling, which supported stocks.
| 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 | 2.1336 % | 2,127.7 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 2.1336 % | 4,080.9 |
| Floater | 11.44 % | 11.72 % | 35,848 | 8.28 | 2 | 2.1336 % | 2,351.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2484 % | 3,302.3 |
| SplitShare | 5.06 % | 8.64 % | 40,749 | 1.86 | 7 | 0.2484 % | 3,943.7 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2484 % | 3,077.0 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 2.1836 % | 2,448.7 |
| Perpetual-Discount | 7.01 % | 7.13 % | 51,796 | 12.42 | 31 | 2.1836 % | 2,670.2 |
| FixedReset Disc | 6.13 % | 9.14 % | 118,945 | 10.67 | 55 | 1.3561 % | 2,085.8 |
| Insurance Straight | 6.79 % | 7.03 % | 65,530 | 12.47 | 16 | 2.5104 % | 2,648.5 |
| FloatingReset | 11.41 % | 11.70 % | 30,283 | 8.30 | 1 | 0.8421 % | 2,311.3 |
| FixedReset Prem | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.3561 % | 2,358.1 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.3561 % | 2,132.1 |
| FixedReset Ins Non | 6.30 % | 8.95 % | 80,383 | 10.91 | 14 | 1.8041 % | 2,255.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| RY.PR.O | Perpetual-Discount | -1.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.14 % |
| GWO.PR.I | Insurance Straight | -1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.99 Evaluated at bid price : 15.99 Bid-YTW : 7.15 % |
| TD.PF.I | FixedReset Disc | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 22.19 Evaluated at bid price : 22.75 Bid-YTW : 7.67 % |
| CU.PR.C | FixedReset Disc | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 9.14 % |
| NA.PR.C | FixedReset Disc | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 22.96 Evaluated at bid price : 24.25 Bid-YTW : 7.67 % |
| ELF.PR.H | Perpetual-Discount | 1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.15 Evaluated at bid price : 19.15 Bid-YTW : 7.27 % |
| BN.PR.B | Floater | 1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 11.00 Evaluated at bid price : 11.00 Bid-YTW : 11.74 % |
| FTS.PR.H | FixedReset Disc | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.90 Evaluated at bid price : 12.90 Bid-YTW : 10.11 % |
| BN.PF.I | FixedReset Disc | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.20 Evaluated at bid price : 17.20 Bid-YTW : 10.67 % |
| TD.PF.J | FixedReset Disc | 1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.55 Evaluated at bid price : 20.55 Bid-YTW : 8.00 % |
| BN.PR.N | Perpetual-Discount | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.40 Evaluated at bid price : 15.40 Bid-YTW : 7.85 % |
| BN.PF.D | Perpetual-Discount | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.95 Evaluated at bid price : 15.95 Bid-YTW : 7.81 % |
| MFC.PR.I | FixedReset Ins Non | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 8.88 % |
| BN.PF.E | FixedReset Disc | 1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 13.78 Evaluated at bid price : 13.78 Bid-YTW : 11.54 % |
| TD.PF.A | FixedReset Disc | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 9.10 % |
| CM.PR.Y | FixedReset Disc | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 22.90 Evaluated at bid price : 23.54 Bid-YTW : 8.15 % |
| IFC.PR.K | Perpetual-Discount | 1.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.02 Evaluated at bid price : 19.02 Bid-YTW : 7.01 % |
| BMO.PR.E | FixedReset Disc | 1.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 21.91 Evaluated at bid price : 22.40 Bid-YTW : 7.64 % |
| FTS.PR.M | FixedReset Disc | 1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.13 Evaluated at bid price : 17.13 Bid-YTW : 9.58 % |
| FTS.PR.F | Perpetual-Discount | 1.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 6.69 % |
| NA.PR.W | FixedReset Disc | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.25 Evaluated at bid price : 16.25 Bid-YTW : 9.56 % |
| IFC.PR.E | Insurance Straight | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 6.88 % |
| GWO.PR.G | Insurance Straight | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.55 Evaluated at bid price : 18.55 Bid-YTW : 7.12 % |
| BN.PF.C | Perpetual-Discount | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.90 Evaluated at bid price : 15.90 Bid-YTW : 7.76 % |
| BN.PF.F | FixedReset Disc | 1.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.55 Evaluated at bid price : 15.55 Bid-YTW : 11.16 % |
| FTS.PR.K | FixedReset Disc | 1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.05 Evaluated at bid price : 17.05 Bid-YTW : 9.28 % |
| PWF.PR.G | Perpetual-Discount | 1.70 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.88 Evaluated at bid price : 20.88 Bid-YTW : 7.13 % |
| PWF.PR.T | FixedReset Disc | 1.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.45 Evaluated at bid price : 19.45 Bid-YTW : 8.48 % |
| POW.PR.B | Perpetual-Discount | 1.84 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.85 Evaluated at bid price : 18.85 Bid-YTW : 7.19 % |
| MFC.PR.L | FixedReset Ins Non | 1.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.01 Evaluated at bid price : 17.01 Bid-YTW : 9.32 % |
| CM.PR.S | FixedReset Disc | 1.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 8.18 % |
| FTS.PR.G | FixedReset Disc | 1.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 8.46 % |
| GWO.PR.M | Insurance Straight | 1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 7.12 % |
| BN.PR.R | FixedReset Disc | 1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.40 Evaluated at bid price : 12.40 Bid-YTW : 11.65 % |
| TD.PF.C | FixedReset Disc | 1.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.99 Evaluated at bid price : 16.99 Bid-YTW : 9.19 % |
| MFC.PR.J | FixedReset Ins Non | 1.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.54 Evaluated at bid price : 19.54 Bid-YTW : 8.59 % |
| POW.PR.C | Perpetual-Discount | 2.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 21.22 Evaluated at bid price : 21.22 Bid-YTW : 6.92 % |
| SLF.PR.C | Insurance Straight | 2.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.65 Evaluated at bid price : 17.65 Bid-YTW : 6.40 % |
| POW.PR.G | Perpetual-Discount | 2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 7.16 % |
| PWF.PR.E | Perpetual-Discount | 2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.29 Evaluated at bid price : 19.29 Bid-YTW : 7.19 % |
| BN.PF.A | FixedReset Disc | 2.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.09 Evaluated at bid price : 19.09 Bid-YTW : 9.27 % |
| PWF.PR.H | Perpetual-Discount | 2.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.22 Evaluated at bid price : 20.22 Bid-YTW : 7.17 % |
| MFC.PR.M | FixedReset Ins Non | 2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.96 Evaluated at bid price : 16.96 Bid-YTW : 9.45 % |
| CU.PR.G | Perpetual-Discount | 2.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.36 Evaluated at bid price : 16.36 Bid-YTW : 6.89 % |
| GWO.PR.Y | Insurance Straight | 2.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.25 Evaluated at bid price : 16.25 Bid-YTW : 7.03 % |
| PWF.PR.L | Perpetual-Discount | 2.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.04 Evaluated at bid price : 18.04 Bid-YTW : 7.13 % |
| PWF.PR.O | Perpetual-Discount | 2.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 7.21 % |
| MFC.PR.B | Insurance Straight | 2.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.82 Evaluated at bid price : 17.82 Bid-YTW : 6.64 % |
| CU.PR.J | Perpetual-Discount | 2.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 7.00 % |
| PWF.PR.S | Perpetual-Discount | 2.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.20 Evaluated at bid price : 17.20 Bid-YTW : 7.04 % |
| BIK.PR.A | FixedReset Disc | 2.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.08 Evaluated at bid price : 20.08 Bid-YTW : 10.19 % |
| BIP.PR.E | FixedReset Disc | 2.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 9.27 % |
| MFC.PR.F | FixedReset Ins Non | 2.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.65 Evaluated at bid price : 12.65 Bid-YTW : 9.80 % |
| PWF.PR.F | Perpetual-Discount | 2.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.38 Evaluated at bid price : 18.38 Bid-YTW : 7.21 % |
| GWO.PR.N | FixedReset Ins Non | 2.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.05 Evaluated at bid price : 12.05 Bid-YTW : 9.94 % |
| CIU.PR.A | Perpetual-Discount | 2.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.55 Evaluated at bid price : 16.55 Bid-YTW : 6.97 % |
| PWF.PR.Z | Perpetual-Discount | 2.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.05 Evaluated at bid price : 18.05 Bid-YTW : 7.20 % |
| BN.PF.G | FixedReset Disc | 2.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 13.87 Evaluated at bid price : 13.87 Bid-YTW : 11.81 % |
| GWO.PR.L | Insurance Straight | 2.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 7.11 % |
| PWF.PR.R | Perpetual-Discount | 2.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.26 Evaluated at bid price : 19.26 Bid-YTW : 7.20 % |
| BN.PR.M | Perpetual-Discount | 2.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.75 Evaluated at bid price : 15.75 Bid-YTW : 7.67 % |
| BN.PR.Z | FixedReset Disc | 2.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.83 Evaluated at bid price : 16.83 Bid-YTW : 10.24 % |
| GWO.PR.Q | Insurance Straight | 2.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.40 Evaluated at bid price : 18.40 Bid-YTW : 7.11 % |
| CM.PR.O | FixedReset Disc | 2.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 8.84 % |
| PWF.PR.K | Perpetual-Discount | 2.76 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.52 Evaluated at bid price : 17.52 Bid-YTW : 7.13 % |
| SLF.PR.G | FixedReset Ins Non | 2.80 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.84 Evaluated at bid price : 12.84 Bid-YTW : 10.01 % |
| MFC.PR.K | FixedReset Ins Non | 2.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 8.41 % |
| BN.PR.T | FixedReset Disc | 2.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.55 Evaluated at bid price : 12.55 Bid-YTW : 11.42 % |
| IFC.PR.A | FixedReset Ins Non | 2.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.27 Evaluated at bid price : 16.27 Bid-YTW : 8.67 % |
| GWO.PR.H | Insurance Straight | 3.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.64 Evaluated at bid price : 17.64 Bid-YTW : 6.98 % |
| CU.PR.D | Perpetual-Discount | 3.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.25 Evaluated at bid price : 18.25 Bid-YTW : 6.73 % |
| CU.PR.E | Perpetual-Discount | 3.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.05 Evaluated at bid price : 18.05 Bid-YTW : 6.80 % |
| BN.PR.K | Floater | 3.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 11.02 Evaluated at bid price : 11.02 Bid-YTW : 11.72 % |
| NA.PR.E | FixedReset Disc | 3.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.85 Evaluated at bid price : 19.85 Bid-YTW : 8.17 % |
| BMO.PR.Y | FixedReset Disc | 3.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.75 Evaluated at bid price : 16.75 Bid-YTW : 9.51 % |
| SLF.PR.H | FixedReset Ins Non | 3.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.82 Evaluated at bid price : 15.82 Bid-YTW : 8.95 % |
| POW.PR.D | Perpetual-Discount | 3.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 6.97 % |
| GWO.PR.P | Insurance Straight | 3.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 7.11 % |
| SLF.PR.E | Insurance Straight | 3.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.53 Evaluated at bid price : 17.53 Bid-YTW : 6.51 % |
| GWO.PR.R | Insurance Straight | 3.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.45 Evaluated at bid price : 17.45 Bid-YTW : 6.99 % |
| SLF.PR.D | Insurance Straight | 3.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 6.38 % |
| BN.PF.J | FixedReset Disc | 3.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.60 Evaluated at bid price : 17.60 Bid-YTW : 10.00 % |
| BN.PR.X | FixedReset Disc | 3.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.96 Evaluated at bid price : 12.96 Bid-YTW : 10.90 % |
| TD.PF.B | FixedReset Disc | 3.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.20 Evaluated at bid price : 18.20 Bid-YTW : 8.76 % |
| FTS.PR.J | Perpetual-Discount | 3.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 18.25 Evaluated at bid price : 18.25 Bid-YTW : 6.65 % |
| BMO.PR.F | FixedReset Disc | 4.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 23.54 Evaluated at bid price : 24.25 Bid-YTW : 7.85 % |
| CU.PR.F | Perpetual-Discount | 4.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.88 Evaluated at bid price : 16.88 Bid-YTW : 6.68 % |
| PWF.PF.A | Perpetual-Discount | 5.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.20 Evaluated at bid price : 16.20 Bid-YTW : 7.01 % |
| MFC.PR.C | Insurance Straight | 6.84 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 6.54 % |
| PWF.PR.P | FixedReset Disc | 7.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.42 Evaluated at bid price : 12.42 Bid-YTW : 10.28 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| GWO.PR.N | FixedReset Ins Non | 84,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.05 Evaluated at bid price : 12.05 Bid-YTW : 9.94 % |
| PWF.PR.P | FixedReset Disc | 78,369 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 12.42 Evaluated at bid price : 12.42 Bid-YTW : 10.28 % |
| BN.PR.N | Perpetual-Discount | 49,424 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 15.40 Evaluated at bid price : 15.40 Bid-YTW : 7.85 % |
| BMO.PR.E | FixedReset Disc | 44,013 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 21.91 Evaluated at bid price : 22.40 Bid-YTW : 7.64 % |
| RY.PR.S | FixedReset Disc | 40,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 8.01 % |
| BN.PR.Z | FixedReset Disc | 37,571 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-02 Maturity Price : 16.83 Evaluated at bid price : 16.83 Bid-YTW : 10.24 % |
| There were 21 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BMO.PR.W | FixedReset Disc | Quote: 16.65 – 25.10 Spot Rate : 8.4500 Average : 4.5474 YTW SCENARIO |
| SLF.PR.G | FixedReset Ins Non | Quote: 12.84 – 20.00 Spot Rate : 7.1600 Average : 4.1934 YTW SCENARIO |
| GWO.PR.I | Insurance Straight | Quote: 15.99 – 20.00 Spot Rate : 4.0100 Average : 2.6098 YTW SCENARIO |
| POW.PR.B | Perpetual-Discount | Quote: 18.85 – 23.00 Spot Rate : 4.1500 Average : 2.8830 YTW SCENARIO |
| SLF.PR.E | Insurance Straight | Quote: 17.53 – 20.21 Spot Rate : 2.6800 Average : 1.7489 YTW SCENARIO |
| BN.PF.B | FixedReset Disc | Quote: 17.20 – 18.77 Spot Rate : 1.5700 Average : 0.9199 YTW SCENARIO |
I wouldn’t be surprised if some of the dislocations in the preferred market over the last month were partly due to Traynor Capital’s trades & associated unwinding of positions from their executing brokers. Definitely some seesaw action that seemed over-exaggerated relative to underlying market conditions. We’ll see what details bubble to the surface over the coming weeks…