TXPR closed at 566.66, up 0.52% on the day. Volume today was 1.32-million, below the median of the past 21 trading days.
CPD closed at 11.25, up 0.36% on the day. Volume was 41,910, fourth-lowest of the past 21 trading days.
ZPR closed at 9.67, up 0.52% on the day. Volume was 116,710, near the median of the past 21 trading days.
Five-year Canada yields were up to 3.60%.
The Globe comments:
Despite the fresh data showing progress on the inflation front, U.S. Treasury yields rose on Friday on concerns about the growing supply of government debt.
The U.S. Treasury Department is likely to announce next week one more round of increases in auction sizes when it details the government’s borrowing needs for the coming quarter.
The Treasury faces higher spending needs due in part to higher social security and interest rate costs.
By late afternoon, the U.S. two-year yield was up 4 basis points and the Canadian equivalent bond yield was up about 8 basis points.
| 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 | -0.5068 % | 2,276.5 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.5068 % | 4,366.3 |
| Floater | 10.70 % | 10.90 % | 36,430 | 8.84 | 2 | -0.5068 % | 2,516.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4429 % | 3,414.7 |
| SplitShare | 4.93 % | 7.17 % | 53,399 | 1.95 | 7 | -0.4429 % | 4,077.9 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4429 % | 3,181.7 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1272 % | 2,676.6 |
| Perpetual-Discount | 6.42 % | 6.55 % | 52,022 | 13.11 | 34 | 0.1272 % | 2,918.7 |
| FixedReset Disc | 5.58 % | 7.51 % | 119,490 | 12.09 | 59 | 0.0475 % | 2,353.7 |
| Insurance Straight | 6.28 % | 6.44 % | 69,967 | 13.24 | 20 | 0.2678 % | 2,884.8 |
| FloatingReset | 10.09 % | 10.45 % | 30,298 | 9.17 | 5 | -0.1000 % | 2,662.2 |
| FixedReset Prem | 5.89 % | 6.42 % | 160,617 | 3.33 | 2 | 0.1191 % | 2,531.7 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0475 % | 2,405.9 |
| FixedReset Ins Non | 5.43 % | 7.11 % | 97,733 | 12.54 | 14 | -0.0590 % | 2,617.0 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| PVS.PR.J | SplitShare | -2.57 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 22.41 Bid-YTW : 7.61 % |
| CM.PR.Q | FixedReset Disc | -1.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.15 Evaluated at bid price : 19.15 Bid-YTW : 7.84 % |
| FFH.PR.G | FixedReset Disc | -1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 8.53 % |
| MFC.PR.M | FixedReset Ins Non | -1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 7.64 % |
| FFH.PR.K | FixedReset Disc | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 8.46 % |
| BN.PR.B | Floater | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 11.76 Evaluated at bid price : 11.76 Bid-YTW : 10.94 % |
| BN.PR.R | FixedReset Disc | -1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 15.00 Evaluated at bid price : 15.00 Bid-YTW : 9.06 % |
| TD.PF.E | FixedReset Disc | -1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 20.41 Evaluated at bid price : 20.41 Bid-YTW : 7.46 % |
| PVS.PR.H | SplitShare | -1.06 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2027-02-28 Maturity Price : 25.00 Evaluated at bid price : 23.25 Bid-YTW : 7.56 % |
| CU.PR.C | FixedReset Disc | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.74 Evaluated at bid price : 19.74 Bid-YTW : 7.47 % |
| TD.PF.C | FixedReset Disc | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 7.29 % |
| FTS.PR.I | FloatingReset | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 15.92 Evaluated at bid price : 15.92 Bid-YTW : 10.60 % |
| CCS.PR.C | Insurance Straight | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 6.41 % |
| TD.PF.A | FixedReset Disc | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 7.06 % |
| CU.PR.F | Perpetual-Discount | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 6.37 % |
| SLF.PR.C | Insurance Straight | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.10 Evaluated at bid price : 19.10 Bid-YTW : 5.90 % |
| FTS.PR.G | FixedReset Disc | 1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 21.26 Evaluated at bid price : 21.26 Bid-YTW : 6.98 % |
| GWO.PR.Y | Insurance Straight | 1.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 17.95 Evaluated at bid price : 17.95 Bid-YTW : 6.35 % |
| FTS.PR.F | Perpetual-Discount | 2.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 20.22 Evaluated at bid price : 20.22 Bid-YTW : 6.17 % |
| FTS.PR.K | FixedReset Disc | 3.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.13 Evaluated at bid price : 19.13 Bid-YTW : 7.48 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BMO.PR.T | FixedReset Disc | 175,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 7.38 % |
| FFH.PR.G | FixedReset Disc | 81,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 8.53 % |
| RY.PR.J | FixedReset Disc | 66,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 20.07 Evaluated at bid price : 20.07 Bid-YTW : 7.54 % |
| CM.PR.P | FixedReset Disc | 50,870 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 18.52 Evaluated at bid price : 18.52 Bid-YTW : 7.67 % |
| RY.PR.M | FixedReset Disc | 47,472 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 7.51 % |
| RY.PR.Z | FixedReset Disc | 41,371 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-01-26 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 7.11 % |
| There were 11 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| GWO.PR.S | Insurance Straight | Quote: 20.54 – 21.92 Spot Rate : 1.3800 Average : 0.8225 YTW SCENARIO |
| MFC.PR.L | FixedReset Ins Non | Quote: 19.35 – 21.00 Spot Rate : 1.6500 Average : 1.3229 YTW SCENARIO |
| PVS.PR.J | SplitShare | Quote: 22.41 – 23.45 Spot Rate : 1.0400 Average : 0.8064 YTW SCENARIO |
| TD.PF.A | FixedReset Disc | Quote: 20.35 – 23.45 Spot Rate : 3.1000 Average : 2.9254 YTW SCENARIO |
| CU.PR.E | Perpetual-Discount | Quote: 19.50 – 22.12 Spot Rate : 2.6200 Average : 2.4669 YTW SCENARIO |
| MFC.PR.M | FixedReset Ins Non | Quote: 19.25 – 20.25 Spot Rate : 1.0000 Average : 0.8623 YTW SCENARIO |