TXPR closed at 566.46, up 0.55% on the day. Volume today was 1.37-million, a little above the median of the past 21 trading days.
CPD closed at 11.34, up 1.25% on the day. Volume was 136,500, highest of the past 21 trading days.
ZPR closed at 9.64, up 0.84% on the day. Volume was 168,730, fourth-highest of the past 21 trading days.
Five-year Canada yields were down to 3.60%.
| 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 | 0.5328 % | 2,370.2 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.5328 % | 4,546.1 |
| Floater | 10.27 % | 10.55 % | 44,182 | 9.01 | 2 | 0.5328 % | 2,619.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0545 % | 3,391.5 |
| SplitShare | 4.96 % | 7.33 % | 51,010 | 1.88 | 7 | 0.0545 % | 4,050.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0545 % | 3,160.1 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2497 % | 2,635.6 |
| Perpetual-Discount | 6.52 % | 6.74 % | 44,498 | 12.86 | 33 | 0.2497 % | 2,874.0 |
| FixedReset Disc | 5.58 % | 7.46 % | 112,678 | 12.15 | 59 | 0.5768 % | 2,376.8 |
| Insurance Straight | 6.43 % | 6.49 % | 63,856 | 13.25 | 21 | -0.1101 % | 2,821.0 |
| FloatingReset | 9.96 % | 10.10 % | 35,424 | 9.37 | 3 | -0.0565 % | 2,597.9 |
| FixedReset Prem | 7.01 % | 7.04 % | 156,433 | 12.34 | 1 | 0.1199 % | 2,489.5 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.5768 % | 2,429.6 |
| FixedReset Ins Non | 5.55 % | 7.37 % | 81,370 | 12.37 | 14 | -0.3870 % | 2,559.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| GWO.PR.T | Insurance Straight | -8.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 17.05 Evaluated at bid price : 17.05 Bid-YTW : 7.57 % |
| TD.PF.E | FixedReset Disc | -8.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 18.55 Evaluated at bid price : 18.55 Bid-YTW : 8.32 % |
| BMO.PR.Y | FixedReset Disc | -4.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 19.01 Evaluated at bid price : 19.01 Bid-YTW : 7.96 % |
| SLF.PR.H | FixedReset Ins Non | -2.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 7.37 % |
| CU.PR.I | FixedReset Disc | -1.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 22.18 Evaluated at bid price : 22.50 Bid-YTW : 7.79 % |
| IFC.PR.G | FixedReset Ins Non | -1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 7.27 % |
| PWF.PR.T | FixedReset Disc | -1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.21 Evaluated at bid price : 20.21 Bid-YTW : 7.35 % |
| PWF.PR.G | Perpetual-Discount | -1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.94 Evaluated at bid price : 22.17 Bid-YTW : 6.74 % |
| BN.PF.G | FixedReset Disc | 1.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 17.17 Evaluated at bid price : 17.17 Bid-YTW : 9.10 % |
| GWO.PR.L | Insurance Straight | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.44 Evaluated at bid price : 21.70 Bid-YTW : 6.51 % |
| BN.PF.C | Perpetual-Discount | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 7.00 % |
| RY.PR.N | Perpetual-Discount | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.91 Evaluated at bid price : 22.20 Bid-YTW : 5.54 % |
| CU.PR.C | FixedReset Disc | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 19.11 Evaluated at bid price : 19.11 Bid-YTW : 7.69 % |
| BIP.PR.A | FixedReset Disc | 1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 18.10 Evaluated at bid price : 18.10 Bid-YTW : 9.51 % |
| GWO.PR.Q | Insurance Straight | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 19.71 Evaluated at bid price : 19.71 Bid-YTW : 6.54 % |
| RY.PR.H | FixedReset Disc | 1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.46 Evaluated at bid price : 20.46 Bid-YTW : 7.19 % |
| RY.PR.S | FixedReset Disc | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 22.09 Evaluated at bid price : 22.68 Bid-YTW : 6.64 % |
| BIP.PR.F | FixedReset Disc | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.89 Evaluated at bid price : 20.89 Bid-YTW : 7.80 % |
| BN.PR.K | Floater | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 12.22 Evaluated at bid price : 12.22 Bid-YTW : 10.63 % |
| CM.PR.P | FixedReset Disc | 1.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 7.50 % |
| TD.PF.B | FixedReset Disc | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.90 Evaluated at bid price : 22.40 Bid-YTW : 6.58 % |
| BMO.PR.S | FixedReset Disc | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.84 Evaluated at bid price : 22.30 Bid-YTW : 6.70 % |
| FTS.PR.M | FixedReset Disc | 1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 18.55 Evaluated at bid price : 18.55 Bid-YTW : 8.15 % |
| NA.PR.S | FixedReset Disc | 1.69 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.08 Evaluated at bid price : 21.08 Bid-YTW : 7.21 % |
| GWO.PR.S | Insurance Straight | 1.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.10 Evaluated at bid price : 20.10 Bid-YTW : 6.54 % |
| NA.PR.W | FixedReset Disc | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 19.30 Evaluated at bid price : 19.30 Bid-YTW : 7.53 % |
| RY.PR.Z | FixedReset Disc | 1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 6.88 % |
| TD.PF.C | FixedReset Disc | 1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.23 Evaluated at bid price : 20.23 Bid-YTW : 7.21 % |
| CM.PR.O | FixedReset Disc | 1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.34 Evaluated at bid price : 21.34 Bid-YTW : 6.95 % |
| BMO.PR.W | FixedReset Disc | 2.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 7.19 % |
| TD.PF.A | FixedReset Disc | 2.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.47 Evaluated at bid price : 21.80 Bid-YTW : 6.69 % |
| FTS.PR.F | Perpetual-Discount | 2.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.04 Evaluated at bid price : 20.04 Bid-YTW : 6.16 % |
| RY.PR.J | FixedReset Disc | 2.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.75 Evaluated at bid price : 20.75 Bid-YTW : 7.43 % |
| BMO.PR.T | FixedReset Disc | 3.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.93 Evaluated at bid price : 20.93 Bid-YTW : 7.00 % |
| TD.PF.D | FixedReset Disc | 3.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 7.39 % |
| RY.PR.M | FixedReset Disc | 3.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.11 Evaluated at bid price : 20.11 Bid-YTW : 7.36 % |
| CM.PR.Q | FixedReset Disc | 3.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 7.46 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BMO.PR.T | FixedReset Disc | 84,375 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.93 Evaluated at bid price : 20.93 Bid-YTW : 7.00 % |
| GWO.PR.R | Insurance Straight | 65,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 18.51 Evaluated at bid price : 18.51 Bid-YTW : 6.49 % |
| TD.PF.D | FixedReset Disc | 63,607 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 7.39 % |
| BMO.PR.S | FixedReset Disc | 57,189 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 21.84 Evaluated at bid price : 22.30 Bid-YTW : 6.70 % |
| RY.PR.M | FixedReset Disc | 56,631 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.11 Evaluated at bid price : 20.11 Bid-YTW : 7.36 % |
| RY.PR.H | FixedReset Disc | 53,449 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-03-01 Maturity Price : 20.46 Evaluated at bid price : 20.46 Bid-YTW : 7.19 % |
| There were 23 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| GWO.PR.T | Insurance Straight | Quote: 17.05 – 20.59 Spot Rate : 3.5400 Average : 2.3598 YTW SCENARIO |
| TD.PF.E | FixedReset Disc | Quote: 18.55 – 21.11 Spot Rate : 2.5600 Average : 1.5630 YTW SCENARIO |
| BMO.PR.Y | FixedReset Disc | Quote: 19.01 – 20.95 Spot Rate : 1.9400 Average : 1.1037 YTW SCENARIO |
| SLF.PR.H | FixedReset Ins Non | Quote: 18.00 – 19.20 Spot Rate : 1.2000 Average : 0.9152 YTW SCENARIO |
| TD.PF.D | FixedReset Disc | Quote: 20.90 – 21.90 Spot Rate : 1.0000 Average : 0.7642 YTW SCENARIO |
| BN.PF.I | FixedReset Disc | Quote: 20.00 – 20.78 Spot Rate : 0.7800 Average : 0.5478 YTW SCENARIO |
[…] continue to yield more, in general, than PerpetualDiscounts; on February 29, I reported median YTWs of 7.46% and 6.74%, respectively, for these two indices; compare with mean […]