Market Action

March 17, 2025

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 0.3264 % 2,214.9
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.3264 % 4,311.7
Floater 7.05 % 7.32 % 29,439 12.21 4 0.3264 % 2,484.8
OpRet 0.00 % 0.00 % 0 0.00 0 0.0757 % 3,610.5
SplitShare 4.83 % 4.94 % 64,981 1.85 9 0.0757 % 4,311.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0757 % 3,364.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1187 % 2,967.6
Perpetual-Discount 5.79 % 5.92 % 55,946 13.94 32 0.1187 % 3,236.0
FixedReset Disc 5.55 % 6.30 % 131,181 13.17 49 0.4763 % 2,812.0
Insurance Straight 5.71 % 5.77 % 76,858 14.27 21 0.4217 % 3,170.9
FloatingReset 5.52 % 5.53 % 60,438 14.17 4 -0.0449 % 3,561.6
FixedReset Prem 5.81 % 5.47 % 171,064 13.88 10 -0.1572 % 2,575.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4763 % 2,874.5
FixedReset Ins Non 5.27 % 5.69 % 72,736 14.11 14 2.7728 % 2,869.4
Performance Highlights
Issue Index Change Notes
PWF.PR.S Perpetual-Discount -3.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.10 %
SLF.PR.D Insurance Straight -2.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.64 %
GWO.PR.R Insurance Straight -2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 5.90 %
GWO.PR.T Insurance Straight -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 21.55
Evaluated at bid price : 21.90
Bid-YTW : 5.88 %
MFC.PR.B Insurance Straight -1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.68 %
CU.PR.C FixedReset Disc -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.59
Evaluated at bid price : 20.59
Bid-YTW : 6.30 %
IFC.PR.E Insurance Straight 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 22.84
Evaluated at bid price : 23.24
Bid-YTW : 5.59 %
GWO.PR.M Insurance Straight 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 24.47
Evaluated at bid price : 24.71
Bid-YTW : 5.88 %
BN.PF.F FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 21.35
Evaluated at bid price : 21.65
Bid-YTW : 6.55 %
GWO.PR.P Insurance Straight 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 23.15
Evaluated at bid price : 23.45
Bid-YTW : 5.77 %
FTS.PR.F Perpetual-Discount 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 22.00
Evaluated at bid price : 22.23
Bid-YTW : 5.55 %
GWO.PR.I Insurance Straight 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.18
Evaluated at bid price : 20.18
Bid-YTW : 5.60 %
CU.PR.H Perpetual-Discount 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 22.68
Evaluated at bid price : 22.92
Bid-YTW : 5.77 %
ENB.PR.D FixedReset Disc 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 18.84
Evaluated at bid price : 18.84
Bid-YTW : 6.93 %
MFC.PR.M FixedReset Ins Non 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 22.17
Evaluated at bid price : 22.80
Bid-YTW : 5.72 %
GWO.PR.L Insurance Straight 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 23.87
Evaluated at bid price : 24.12
Bid-YTW : 5.87 %
POW.PR.D Perpetual-Discount 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 21.54
Evaluated at bid price : 21.80
Bid-YTW : 5.83 %
PWF.PR.T FixedReset Disc 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 22.27
Evaluated at bid price : 22.86
Bid-YTW : 5.76 %
SLF.PR.C Insurance Straight 1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.79
Evaluated at bid price : 20.79
Bid-YTW : 5.37 %
GWO.PR.Q Insurance Straight 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 22.01
Evaluated at bid price : 22.25
Bid-YTW : 5.80 %
ENB.PR.B FixedReset Disc 5.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 6.98 %
IFC.PR.K Insurance Straight 6.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 22.70
Evaluated at bid price : 23.02
Bid-YTW : 5.71 %
BN.PF.G FixedReset Disc 14.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 6.83 %
SLF.PR.H FixedReset Ins Non 54.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 19.64
Evaluated at bid price : 19.64
Bid-YTW : 6.00 %
Volume Highlights
Issue Index Shares
Traded
Notes
BMO.PR.Y FixedReset Disc 110,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 23.95
Evaluated at bid price : 24.64
Bid-YTW : 5.45 %
CM.PR.Q FixedReset Disc 102,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 24.04
Evaluated at bid price : 24.75
Bid-YTW : 5.54 %
FTS.PR.M FixedReset Disc 62,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 21.27
Evaluated at bid price : 21.27
Bid-YTW : 6.28 %
TD.PF.A FixedReset Disc 50,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 23.04
Evaluated at bid price : 24.59
Bid-YTW : 5.03 %
CU.PR.I FixedReset Disc 47,500 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-01
Maturity Price : 25.00
Evaluated at bid price : 24.75
Bid-YTW : 6.27 %
BN.PF.D Perpetual-Discount 43,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.11 %
There were 14 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
CU.PR.F Perpetual-Discount Quote: 20.05 – 23.88
Spot Rate : 3.8300
Average : 2.6226

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 5.67 %

BN.PF.E FixedReset Disc Quote: 19.40 – 20.99
Spot Rate : 1.5900
Average : 1.1456

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 6.83 %

PWF.PR.S Perpetual-Discount Quote: 20.00 – 21.00
Spot Rate : 1.0000
Average : 0.7656

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.10 %

SLF.PR.D Insurance Straight Quote: 19.80 – 20.75
Spot Rate : 0.9500
Average : 0.7473

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 5.64 %

CU.PR.C FixedReset Disc Quote: 20.59 – 21.59
Spot Rate : 1.0000
Average : 0.7995

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 20.59
Evaluated at bid price : 20.59
Bid-YTW : 6.30 %

MFC.PR.F FixedReset Ins Non Quote: 16.35 – 17.35
Spot Rate : 1.0000
Average : 0.8268

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-17
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 6.12 %

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