Market Action

March 20, 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 -0.0408 % 2,204.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.0408 % 4,291.5
Floater 7.08 % 7.42 % 31,366 12.09 4 -0.0408 % 2,473.2
OpRet 0.00 % 0.00 % 0 0.00 0 -0.2137 % 3,599.9
SplitShare 4.85 % 5.12 % 74,223 1.84 9 -0.2137 % 4,299.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2137 % 3,354.3
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1264 % 2,985.2
Perpetual-Discount 5.75 % 5.90 % 58,426 13.97 32 0.1264 % 3,255.2
FixedReset Disc 5.54 % 6.32 % 127,540 13.15 49 0.2265 % 2,814.8
Insurance Straight 5.67 % 5.70 % 76,679 14.39 21 0.2406 % 3,191.1
FloatingReset 5.52 % 5.56 % 59,882 14.58 4 0.0449 % 3,559.6
FixedReset Prem 5.80 % 5.50 % 164,285 13.74 10 -0.0510 % 2,580.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2265 % 2,877.3
FixedReset Ins Non 5.24 % 5.69 % 73,926 14.12 14 0.1072 % 2,884.1
Performance Highlights
Issue Index Change Notes
CU.PR.C FixedReset Disc -2.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 6.36 %
ENB.PR.P FixedReset Disc -2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 19.66
Evaluated at bid price : 19.66
Bid-YTW : 6.97 %
IFC.PR.G FixedReset Ins Non -2.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 22.55
Evaluated at bid price : 23.25
Bid-YTW : 5.82 %
SLF.PR.E Insurance Straight -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.51 %
MFC.PR.J FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 23.27
Evaluated at bid price : 24.70
Bid-YTW : 5.51 %
BIP.PR.B FixedReset Disc 1.10 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 24.87
Bid-YTW : 5.99 %
IFC.PR.A FixedReset Ins Non 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.66 %
FTS.PR.H FixedReset Disc 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 16.15
Evaluated at bid price : 16.15
Bid-YTW : 6.46 %
BIP.PR.F FixedReset Disc 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 22.59
Evaluated at bid price : 23.41
Bid-YTW : 6.23 %
ENB.PR.B FixedReset Disc 2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.95 %
PWF.PF.A Perpetual-Discount 2.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.73 %
SLF.PR.D Insurance Straight 3.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 5.48 %
BIP.PR.E FixedReset Disc 13.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 22.75
Evaluated at bid price : 23.56
Bid-YTW : 6.26 %
Volume Highlights
Issue Index Shares
Traded
Notes
BN.PF.G FixedReset Disc 460,679 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 6.92 %
RY.PR.M FixedReset Disc 209,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 23.82
Evaluated at bid price : 24.43
Bid-YTW : 5.37 %
TD.PF.D FixedReset Disc 195,525 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 23.98
Evaluated at bid price : 24.71
Bid-YTW : 5.55 %
BMO.PR.Y FixedReset Disc 99,225 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 23.95
Evaluated at bid price : 24.65
Bid-YTW : 5.45 %
CM.PR.Q FixedReset Disc 44,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 24.15
Evaluated at bid price : 24.83
Bid-YTW : 5.52 %
TD.PF.E FixedReset Disc 43,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 24.03
Evaluated at bid price : 24.62
Bid-YTW : 5.62 %
There were 21 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
PVS.PR.G SplitShare Quote: 25.05 – 26.05
Spot Rate : 1.0000
Average : 0.5497

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-04-19
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 4.62 %

IFC.PR.C FixedReset Ins Non Quote: 21.32 – 22.55
Spot Rate : 1.2300
Average : 0.8270

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 21.32
Evaluated at bid price : 21.32
Bid-YTW : 6.11 %

ENB.PR.P FixedReset Disc Quote: 19.66 – 20.24
Spot Rate : 0.5800
Average : 0.3453

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 19.66
Evaluated at bid price : 19.66
Bid-YTW : 6.97 %

BN.PR.K Floater Quote: 11.75 – 12.50
Spot Rate : 0.7500
Average : 0.5166

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 11.75
Evaluated at bid price : 11.75
Bid-YTW : 7.42 %

GWO.PR.S Insurance Straight Quote: 22.72 – 23.63
Spot Rate : 0.9100
Average : 0.7004

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 22.46
Evaluated at bid price : 22.72
Bid-YTW : 5.79 %

CU.PR.C FixedReset Disc Quote: 20.41 – 21.41
Spot Rate : 1.0000
Average : 0.8072

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-20
Maturity Price : 20.41
Evaluated at bid price : 20.41
Bid-YTW : 6.36 %

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