Market Action

March 26, 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 0.1832 % 2,216.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1832 % 4,314.3
Floater 7.04 % 7.37 % 29,431 12.14 4 0.1832 % 2,486.3
OpRet 0.00 % 0.00 % 0 0.00 0 -0.4445 % 3,596.5
SplitShare 4.85 % 5.02 % 69,587 1.83 9 -0.4445 % 4,295.0
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.4445 % 3,351.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.2156 % 2,977.6
Perpetual-Discount 5.77 % 5.94 % 55,097 13.89 32 0.2156 % 3,246.9
FixedReset Disc 5.55 % 6.38 % 122,741 13.13 49 -0.2492 % 2,810.8
Insurance Straight 5.70 % 5.72 % 69,860 14.37 21 -0.4217 % 3,177.2
FloatingReset 5.51 % 5.53 % 65,241 14.62 4 0.0336 % 3,567.6
FixedReset Prem 5.79 % 5.40 % 160,824 13.96 10 0.0039 % 2,585.7
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.2492 % 2,873.2
FixedReset Ins Non 5.34 % 5.67 % 69,901 14.19 14 0.4350 % 2,897.4
Performance Highlights
Issue Index Change Notes
BIP.PR.E FixedReset Disc -11.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 7.19 %
GWO.PR.T Insurance Straight -8.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.32 %
ENB.PR.B FixedReset Disc -2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 7.23 %
PVS.PR.K SplitShare -2.78 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 23.80
Bid-YTW : 5.86 %
CCS.PR.C Insurance Straight -1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 21.45
Evaluated at bid price : 21.71
Bid-YTW : 5.78 %
CU.PR.G Perpetual-Discount -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.78 %
BN.PF.G FixedReset Disc -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 19.90
Evaluated at bid price : 19.90
Bid-YTW : 6.98 %
PVS.PR.J SplitShare -1.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 24.50
Bid-YTW : 5.26 %
PWF.PR.H Perpetual-Discount 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 24.10
Evaluated at bid price : 24.36
Bid-YTW : 6.00 %
PWF.PR.F Perpetual-Discount 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 22.10
Evaluated at bid price : 22.38
Bid-YTW : 5.96 %
IFC.PR.F Insurance Straight 3.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 23.04
Evaluated at bid price : 23.47
Bid-YTW : 5.65 %
CU.PR.C FixedReset Disc 3.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.25 %
BN.PR.N Perpetual-Discount 5.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 19.64
Evaluated at bid price : 19.64
Bid-YTW : 6.08 %
MFC.PR.M FixedReset Ins Non 6.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 22.79
Evaluated at bid price : 24.00
Bid-YTW : 5.40 %
Volume Highlights
Issue Index Shares
Traded
Notes
ENB.PF.E FixedReset Disc 66,667 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 18.94
Evaluated at bid price : 18.94
Bid-YTW : 7.14 %
TD.PF.E FixedReset Disc 50,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 24.00
Evaluated at bid price : 24.60
Bid-YTW : 5.63 %
ENB.PR.H FixedReset Disc 19,079 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.38 %
CU.PR.E Perpetual-Discount 18,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 20.72
Evaluated at bid price : 20.72
Bid-YTW : 5.98 %
CM.PR.S FixedReset Prem 15,774 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 25.43
Evaluated at bid price : 25.43
Bid-YTW : 5.30 %
PWF.PR.G Perpetual-Discount 14,603 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 24.64
Evaluated at bid price : 24.90
Bid-YTW : 6.02 %
There were 4 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
GWO.PR.M Insurance Straight Quote: 24.70 – 27.75
Spot Rate : 3.0500
Average : 1.6707

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 24.46
Evaluated at bid price : 24.70
Bid-YTW : 5.89 %

BIP.PR.E FixedReset Disc Quote: 20.75 – 23.82
Spot Rate : 3.0700
Average : 2.1726

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 7.19 %

GWO.PR.T Insurance Straight Quote: 20.50 – 22.65
Spot Rate : 2.1500
Average : 1.4315

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.32 %

PVS.PR.K SplitShare Quote: 23.80 – 24.80
Spot Rate : 1.0000
Average : 0.6911

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 23.80
Bid-YTW : 5.86 %

BN.PR.T FixedReset Disc Quote: 18.00 – 18.95
Spot Rate : 0.9500
Average : 0.6555

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.80 %

ENB.PR.B FixedReset Disc Quote: 18.01 – 18.85
Spot Rate : 0.8400
Average : 0.6064

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-03-26
Maturity Price : 18.01
Evaluated at bid price : 18.01
Bid-YTW : 7.23 %

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