TXPR closed at 565.07, up 0.68% on the day. Volume today was 7.12-million, highest by far of the past 21 trading days – which we may presume is due to the TXPR rebalancing reported by IrateAR and Lateralus Capital.
CPD closed at 11.18, up 0.45% on the day. Volume was 61,700, well below the median of the past 21 trading days.
ZPR closed at 9.52, up 0.85% on the day. Volume was 168,200, third-highest of the past 21 trading days.
Five-year Canada yields were up to 3.59%.
There were good markets everywhere:
The S&P 500 posted a record high close on Friday for the first time in two years, fueled by a rally in chipmakers and other heavyweight technology stocks on optimism around artificial intelligence. The TSX also ended solidly higher after a weak start, but remains more than 1,000 points away from its record high.
The benchmark’s close confirmed that the S&P 500 has been in a bull market since it closed at its low on Oct. 12, 2022, according to one measure which also puts that date as the end of a bear market.
In a selloff between its record high close of 4,796.56 on Jan. 3, 2022 and its low in October 2022, the S&P 500 tumbled 25%.
On Friday, the S&P 500 jumped 1.23% to end the session at 4,839.81 points.
…
The Nasdaq jumped 1.70% to 15,310.97 points, while Dow Jones Industrial Average rose 1.05% to 37,863.80 points.The Toronto Stock Exchange’s S&P/TSX composite index ended up 149.79 points, or 0.7%, at 20,906.52. For the week, the index was down 0.4%, after posting last Friday its highest weekly closing level in 21 months.
| 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 | 0.9594 % | 2,236.9 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.9594 % | 4,290.4 |
| Floater | 10.89 % | 11.07 % | 49,677 | 8.74 | 2 | 0.9594 % | 2,472.6 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1202 % | 3,419.4 |
| SplitShare | 4.92 % | 7.31 % | 49,907 | 1.97 | 7 | 0.1202 % | 4,083.5 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1202 % | 3,186.1 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0949 % | 2,668.7 |
| Perpetual-Discount | 6.44 % | 6.57 % | 51,790 | 13.12 | 34 | 0.0949 % | 2,910.1 |
| FixedReset Disc | 5.63 % | 7.55 % | 111,853 | 12.10 | 59 | 0.3304 % | 2,331.2 |
| Insurance Straight | 6.30 % | 6.45 % | 72,211 | 13.26 | 20 | -0.4652 % | 2,876.7 |
| FloatingReset | 10.28 % | 10.69 % | 31,747 | 8.95 | 5 | 0.4225 % | 2,605.0 |
| FixedReset Prem | 5.88 % | 6.32 % | 149,110 | 3.35 | 2 | 0.2782 % | 2,532.7 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.3304 % | 2,383.0 |
| FixedReset Ins Non | 5.51 % | 7.31 % | 90,948 | 12.48 | 14 | -0.0112 % | 2,578.0 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| NA.PR.W | FixedReset Disc | -5.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 17.40 Evaluated at bid price : 17.40 Bid-YTW : 8.17 % |
| SLF.PR.H | FixedReset Ins Non | -3.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 18.02 Evaluated at bid price : 18.02 Bid-YTW : 7.31 % |
| IFC.PR.I | Insurance Straight | -3.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.51 % |
| RY.PR.O | Perpetual-Discount | -2.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 21.65 Evaluated at bid price : 21.95 Bid-YTW : 5.66 % |
| IFC.PR.E | Insurance Straight | -2.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 20.59 Evaluated at bid price : 20.59 Bid-YTW : 6.39 % |
| MFC.PR.C | Insurance Straight | -2.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 18.30 Evaluated at bid price : 18.30 Bid-YTW : 6.23 % |
| GWO.PR.P | Insurance Straight | -2.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 20.51 Evaluated at bid price : 20.51 Bid-YTW : 6.66 % |
| FFH.PR.G | FixedReset Disc | -1.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 16.20 Evaluated at bid price : 16.20 Bid-YTW : 8.91 % |
| FFH.PR.I | FixedReset Disc | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 16.85 Evaluated at bid price : 16.85 Bid-YTW : 8.93 % |
| MFC.PR.J | FixedReset Ins Non | -1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 22.03 Evaluated at bid price : 22.51 Bid-YTW : 6.92 % |
| RY.PR.S | FixedReset Disc | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 21.71 Evaluated at bid price : 22.10 Bid-YTW : 6.81 % |
| CU.PR.E | Perpetual-Discount | -1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 19.39 Evaluated at bid price : 19.39 Bid-YTW : 6.43 % |
| BN.PF.I | FixedReset Disc | 1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 8.65 % |
| BN.PF.H | FixedReset Disc | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 21.32 Evaluated at bid price : 21.62 Bid-YTW : 8.57 % |
| TD.PF.C | FixedReset Disc | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 19.49 Evaluated at bid price : 19.49 Bid-YTW : 7.32 % |
| BN.PR.B | Floater | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 11.60 Evaluated at bid price : 11.60 Bid-YTW : 11.07 % |
| BN.PF.C | Perpetual-Discount | 1.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 17.89 Evaluated at bid price : 17.89 Bid-YTW : 6.86 % |
| TD.PF.B | FixedReset Disc | 1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 21.06 Evaluated at bid price : 21.06 Bid-YTW : 6.88 % |
| IFC.PR.A | FixedReset Ins Non | 1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 18.17 Evaluated at bid price : 18.17 Bid-YTW : 7.18 % |
| BMO.PR.T | FixedReset Disc | 1.55 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 19.60 Evaluated at bid price : 19.60 Bid-YTW : 7.41 % |
| SLF.PR.C | Insurance Straight | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 19.10 Evaluated at bid price : 19.10 Bid-YTW : 5.89 % |
| CM.PR.P | FixedReset Disc | 1.69 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 18.65 Evaluated at bid price : 18.65 Bid-YTW : 7.60 % |
| FTS.PR.I | FloatingReset | 2.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 15.71 Evaluated at bid price : 15.71 Bid-YTW : 10.69 % |
| TD.PF.A | FixedReset Disc | 2.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 20.22 Evaluated at bid price : 20.22 Bid-YTW : 7.08 % |
| IFC.PR.C | FixedReset Ins Non | 2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 19.28 Evaluated at bid price : 19.28 Bid-YTW : 7.47 % |
| BN.PR.M | Perpetual-Discount | 2.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 17.90 Evaluated at bid price : 17.90 Bid-YTW : 6.72 % |
| BMO.PR.Y | FixedReset Disc | 2.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 20.05 Evaluated at bid price : 20.05 Bid-YTW : 7.48 % |
| BN.PR.N | Perpetual-Discount | 3.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 17.94 Evaluated at bid price : 17.94 Bid-YTW : 6.70 % |
| TD.PF.E | FixedReset Disc | 3.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 7.35 % |
| BIP.PR.B | FixedReset Disc | 4.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 23.57 Evaluated at bid price : 23.90 Bid-YTW : 8.16 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| GWO.PR.N | FixedReset Ins Non | 297,828 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 14.27 Evaluated at bid price : 14.27 Bid-YTW : 7.83 % |
| PWF.PR.P | FixedReset Disc | 290,870 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 14.17 Evaluated at bid price : 14.17 Bid-YTW : 8.31 % |
| MFC.PR.K | FixedReset Ins Non | 244,728 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 22.06 Evaluated at bid price : 22.60 Bid-YTW : 6.64 % |
| SLF.PR.H | FixedReset Ins Non | 206,590 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 18.02 Evaluated at bid price : 18.02 Bid-YTW : 7.31 % |
| BMO.PR.S | FixedReset Disc | 189,139 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 20.56 Evaluated at bid price : 20.56 Bid-YTW : 7.23 % |
| BIP.PR.B | FixedReset Disc | 153,072 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 23.57 Evaluated at bid price : 23.90 Bid-YTW : 8.16 % |
| TD.PF.B | FixedReset Disc | 111,167 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-19 Maturity Price : 21.06 Evaluated at bid price : 21.06 Bid-YTW : 6.88 % |
| There were 58 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BN.PF.F | FixedReset Disc | Quote: 17.80 – 23.90 Spot Rate : 6.1000 Average : 3.2972 YTW SCENARIO |
| TD.PF.A | FixedReset Disc | Quote: 20.22 – 23.45 Spot Rate : 3.2300 Average : 1.7841 YTW SCENARIO |
| CU.PR.E | Perpetual-Discount | Quote: 19.39 – 22.12 Spot Rate : 2.7300 Average : 1.6513 YTW SCENARIO |
| CU.PR.H | Perpetual-Discount | Quote: 20.40 – 22.49 Spot Rate : 2.0900 Average : 1.3973 YTW SCENARIO |
| MFC.PR.K | FixedReset Ins Non | Quote: 22.60 – 23.95 Spot Rate : 1.3500 Average : 0.7914 YTW SCENARIO |
| NA.PR.W | FixedReset Disc | Quote: 17.40 – 18.97 Spot Rate : 1.5700 Average : 1.0400 YTW SCENARIO |