Market Action

March 18, 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 -0.3457 % 2,207.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.3457 % 4,296.8
Floater 7.07 % 7.39 % 29,825 12.14 4 -0.3457 % 2,476.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.0489 % 3,612.2
SplitShare 4.83 % 4.78 % 68,444 1.85 9 0.0489 % 4,313.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0489 % 3,365.8
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0226 % 2,968.3
Perpetual-Discount 5.78 % 5.93 % 56,541 13.94 32 0.0226 % 3,236.7
FixedReset Disc 5.55 % 6.38 % 129,790 13.19 49 0.0405 % 2,813.2
Insurance Straight 5.73 % 5.76 % 77,857 14.26 21 -0.3134 % 3,161.0
FloatingReset 5.52 % 5.54 % 58,146 14.17 4 -0.0561 % 3,559.6
FixedReset Prem 5.80 % 5.48 % 172,282 13.88 10 0.2440 % 2,581.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0405 % 2,875.6
FixedReset Ins Non 5.25 % 5.70 % 76,102 14.12 14 0.2187 % 2,875.6
Performance Highlights
Issue Index Change Notes
PWF.PF.A Perpetual-Discount -6.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 6.17 %
GWO.PR.G Insurance Straight -4.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.22 %
IFC.PR.F Insurance Straight -2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.48
Evaluated at bid price : 22.75
Bid-YTW : 5.84 %
GWO.PR.I Insurance Straight -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 19.78
Evaluated at bid price : 19.78
Bid-YTW : 5.71 %
BIP.PR.E FixedReset Disc -1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.48
Evaluated at bid price : 23.08
Bid-YTW : 6.40 %
ENB.PR.B FixedReset Disc -1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.10 %
POW.PR.D Perpetual-Discount -1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.51
Evaluated at bid price : 21.51
Bid-YTW : 5.93 %
ENB.PR.N FixedReset Disc -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.88
Evaluated at bid price : 22.25
Bid-YTW : 6.46 %
IFC.PR.K Insurance Straight -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.47
Evaluated at bid price : 22.76
Bid-YTW : 5.78 %
MFC.PR.Q FixedReset Ins Non -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.82
Evaluated at bid price : 23.75
Bid-YTW : 5.68 %
BN.PF.D Perpetual-Discount 1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.03 %
GWO.PR.R Insurance Straight 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 20.68
Evaluated at bid price : 20.68
Bid-YTW : 5.83 %
SLF.PR.H FixedReset Ins Non 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 5.93 %
FTS.PR.H FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 15.94
Evaluated at bid price : 15.94
Bid-YTW : 6.55 %
IFC.PR.C FixedReset Ins Non 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.35
Evaluated at bid price : 21.35
Bid-YTW : 6.10 %
CU.PR.C FixedReset Disc 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.18 %
GWO.PR.T Insurance Straight 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.95
Evaluated at bid price : 22.35
Bid-YTW : 5.76 %
PWF.PR.S Perpetual-Discount 3.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 20.66
Evaluated at bid price : 20.66
Bid-YTW : 5.90 %
SLF.PR.D Insurance Straight 3.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.44 %
BN.PR.N Perpetual-Discount 6.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 19.83
Evaluated at bid price : 19.83
Bid-YTW : 6.02 %
Volume Highlights
Issue Index Shares
Traded
Notes
CU.PR.C FixedReset Disc 197,135 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.18 %
CM.PR.S FixedReset Prem 180,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 25.47
Evaluated at bid price : 25.47
Bid-YTW : 5.28 %
NA.PR.S FixedReset Prem 134,599 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 23.27
Evaluated at bid price : 25.11
Bid-YTW : 5.33 %
SLF.PR.D Insurance Straight 101,425 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.44 %
FTS.PR.M FixedReset Disc 100,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.32
Evaluated at bid price : 21.32
Bid-YTW : 6.27 %
ENB.PF.A FixedReset Disc 96,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 7.00 %
There were 31 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
PWF.PF.A Perpetual-Discount Quote: 18.55 – 20.89
Spot Rate : 2.3400
Average : 1.3489

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 6.17 %

GWO.PR.G Insurance Straight Quote: 21.00 – 22.50
Spot Rate : 1.5000
Average : 0.9744

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.22 %

MFC.PR.L FixedReset Ins Non Quote: 22.48 – 23.60
Spot Rate : 1.1200
Average : 0.6611

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.00
Evaluated at bid price : 22.48
Bid-YTW : 5.70 %

BN.PF.A FixedReset Disc Quote: 23.31 – 24.40
Spot Rate : 1.0900
Average : 0.6962

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.56
Evaluated at bid price : 23.31
Bid-YTW : 6.30 %

IFC.PR.F Insurance Straight Quote: 22.75 – 23.98
Spot Rate : 1.2300
Average : 0.9728

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.48
Evaluated at bid price : 22.75
Bid-YTW : 5.84 %

BIP.PR.E FixedReset Disc Quote: 23.08 – 24.25
Spot Rate : 1.1700
Average : 0.9207

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-18
Maturity Price : 22.48
Evaluated at bid price : 23.08
Bid-YTW : 6.40 %

Leave a Reply