RAV4guy has sent me an MS-Excel version of his Redemption and New Issues Data and I have updated the post accordingly.
The market’s string of solid wins has come to an end, with TXPR down 0.08% after not setting a new 52-week high on the day. Oh, well, look at the bright side: we can all now look wise and inform everybody that it’s ‘profit-taking’. Maybe we’ll get on TV!
| 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 | -1.1662 % | 2,285.5 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.1662 % | 4,383.6 |
| Floater | 7.63 % | 7.78 % | 34,886 | 11.69 | 4 | -1.1662 % | 2,526.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1991 % | 3,637.0 |
| SplitShare | 4.75 % | 4.20 % | 64,283 | 1.17 | 7 | 0.1991 % | 4,343.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1991 % | 3,388.9 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2260 % | 2,902.2 |
| Perpetual-Discount | 5.92 % | 6.07 % | 52,383 | 13.73 | 32 | -0.2260 % | 3,164.7 |
| FixedReset Disc | 5.42 % | 6.61 % | 101,313 | 12.95 | 53 | -0.3014 % | 2,773.9 |
| Insurance Straight | 5.87 % | 5.97 % | 65,667 | 14.00 | 21 | -0.0246 % | 3,082.1 |
| FloatingReset | 6.46 % | 6.04 % | 35,195 | 13.11 | 4 | -1.1930 % | 3,326.2 |
| FixedReset Prem | 6.04 % | 5.56 % | 214,510 | 13.77 | 9 | -0.2382 % | 2,595.8 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3014 % | 2,835.5 |
| FixedReset Ins Non | 5.14 % | 6.00 % | 86,266 | 13.82 | 14 | 0.2301 % | 2,859.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BN.PR.R | FixedReset Disc | -4.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 16.80 Evaluated at bid price : 16.80 Bid-YTW : 7.57 % |
| ENB.PF.G | FixedReset Disc | -3.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 17.88 Evaluated at bid price : 17.88 Bid-YTW : 7.81 % |
| PWF.PR.G | Perpetual-Discount | -3.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 23.50 Evaluated at bid price : 23.77 Bid-YTW : 6.29 % |
| GWO.PR.G | Insurance Straight | -3.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 21.03 Evaluated at bid price : 21.03 Bid-YTW : 6.21 % |
| GWO.PR.P | Insurance Straight | -2.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 21.91 Evaluated at bid price : 22.15 Bid-YTW : 6.11 % |
| MFC.PR.B | Insurance Straight | -1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.85 % |
| BN.PR.M | Perpetual-Discount | -1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.01 Evaluated at bid price : 19.01 Bid-YTW : 6.27 % |
| POW.PR.B | Perpetual-Discount | -1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 21.91 Evaluated at bid price : 22.15 Bid-YTW : 6.14 % |
| BN.PF.C | Perpetual-Discount | -1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 6.29 % |
| PWF.PR.K | Perpetual-Discount | -1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 20.36 Evaluated at bid price : 20.36 Bid-YTW : 6.18 % |
| ENB.PR.F | FixedReset Disc | -1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 7.35 % |
| BN.PF.J | FixedReset Disc | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 22.47 Evaluated at bid price : 23.06 Bid-YTW : 6.65 % |
| BN.PF.E | FixedReset Disc | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.76 Evaluated at bid price : 19.76 Bid-YTW : 7.01 % |
| CU.PR.F | Perpetual-Discount | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.56 Evaluated at bid price : 19.56 Bid-YTW : 5.81 % |
| BN.PF.H | FixedReset Disc | 1.10 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 24.76 Bid-YTW : 5.75 % |
| BN.PR.K | Floater | 1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 12.32 Evaluated at bid price : 12.32 Bid-YTW : 7.79 % |
| BN.PR.N | Perpetual-Discount | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.12 Evaluated at bid price : 19.12 Bid-YTW : 6.24 % |
| ENB.PR.Y | FixedReset Disc | 1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 18.57 Evaluated at bid price : 18.57 Bid-YTW : 7.29 % |
| FFH.PR.I | FixedReset Disc | 1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 21.85 Evaluated at bid price : 22.36 Bid-YTW : 6.34 % |
| BN.PF.B | FixedReset Disc | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 21.60 Evaluated at bid price : 21.90 Bid-YTW : 6.61 % |
| BN.PF.D | Perpetual-Discount | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 6.23 % |
| MFC.PR.J | FixedReset Ins Non | 1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 23.01 Evaluated at bid price : 24.17 Bid-YTW : 5.90 % |
| BN.PR.T | FixedReset Disc | 1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 17.50 Evaluated at bid price : 17.50 Bid-YTW : 7.27 % |
| BN.PF.F | FixedReset Disc | 1.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 21.16 Evaluated at bid price : 21.16 Bid-YTW : 6.95 % |
| BN.PR.X | FixedReset Disc | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 16.65 Evaluated at bid price : 16.65 Bid-YTW : 7.19 % |
| POW.PR.C | Perpetual-Discount | 1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 24.25 Evaluated at bid price : 24.55 Bid-YTW : 6.00 % |
| CCS.PR.C | Insurance Straight | 1.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 5.98 % |
| GWO.PR.N | FixedReset Ins Non | 2.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 15.60 Evaluated at bid price : 15.60 Bid-YTW : 6.62 % |
| SLF.PR.E | Insurance Straight | 6.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 5.59 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.C | FixedReset Disc | 77,100 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 23.80 Evaluated at bid price : 24.82 Bid-YTW : 5.28 % |
| BN.PF.A | FixedReset Disc | 51,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 23.01 Evaluated at bid price : 24.30 Bid-YTW : 6.25 % |
| NA.PR.E | FixedReset Disc | 47,534 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 23.27 Evaluated at bid price : 24.85 Bid-YTW : 5.65 % |
| ENB.PR.J | FixedReset Disc | 33,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 20.26 Evaluated at bid price : 20.26 Bid-YTW : 7.11 % |
| FFH.PR.C | FixedReset Prem | 32,500 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-01-30 Maturity Price : 25.00 Evaluated at bid price : 24.95 Bid-YTW : 5.43 % |
| ENB.PF.C | FixedReset Disc | 29,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-13 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 7.37 % |
| There were 9 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| ENB.PR.J | FixedReset Disc | Quote: 20.26 – 25.00 Spot Rate : 4.7400 Average : 2.5331 YTW SCENARIO |
| BN.PR.R | FixedReset Disc | Quote: 16.80 – 18.06 Spot Rate : 1.2600 Average : 0.8138 YTW SCENARIO |
| PWF.PR.G | Perpetual-Discount | Quote: 23.77 – 24.81 Spot Rate : 1.0400 Average : 0.6168 YTW SCENARIO |
| ENB.PF.G | FixedReset Disc | Quote: 17.88 – 18.95 Spot Rate : 1.0700 Average : 0.6536 YTW SCENARIO |
| GWO.PR.G | Insurance Straight | Quote: 21.03 – 21.90 Spot Rate : 0.8700 Average : 0.4997 YTW SCENARIO |
| IFC.PR.A | FixedReset Ins Non | Quote: 20.50 – 21.50 Spot Rate : 1.0000 Average : 0.6740 YTW SCENARIO |
I believe it was actually defeated by dividends – TXPR is a price index rather than an absolute return index and things went ex today for around 0.22%. Up even when it’s down these days!
I’ll agree with that.
Yes, most of the Brookfields went ex-div today.