Market Action

April 29, 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 0.5158 % 2,080.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.5158 % 4,050.3
Floater 7.41 % 8.00 % 68,699 11.37 3 0.5158 % 2,334.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.0050 % 3,638.1
SplitShare 4.81 % 4.78 % 65,068 1.73 8 0.0050 % 4,344.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0050 % 3,389.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.1381 % 2,849.1
Perpetual-Discount 6.03 % 6.16 % 54,597 13.67 33 -0.1381 % 3,106.8
FixedReset Disc 5.75 % 6.64 % 121,600 12.63 49 0.1575 % 2,731.1
Insurance Straight 5.96 % 6.06 % 71,613 13.80 21 -0.4791 % 3,038.6
FloatingReset 5.92 % 5.97 % 38,056 13.89 3 0.1757 % 3,477.1
FixedReset Prem 6.42 % 5.46 % 143,233 13.93 10 0.1260 % 2,550.1
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1575 % 2,791.7
FixedReset Ins Non 5.78 % 6.19 % 68,175 13.41 12 -0.6567 % 2,722.5
Performance Highlights
Issue Index Change Notes
IFC.PR.A FixedReset Ins Non -10.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.00 %
SLF.PR.E Insurance Straight -3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.17
Evaluated at bid price : 19.17
Bid-YTW : 5.94 %
MFC.PR.C Insurance Straight -2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.00 %
BN.PF.I FixedReset Disc -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.75
Evaluated at bid price : 23.10
Bid-YTW : 7.08 %
MFC.PR.I FixedReset Ins Non -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.76
Evaluated at bid price : 23.40
Bid-YTW : 6.17 %
BN.PF.D Perpetual-Discount -1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 6.52 %
MFC.PR.B Insurance Straight -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 5.98 %
CCS.PR.C Insurance Straight -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.04 %
SLF.PR.C Insurance Straight -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.76 %
SLF.PR.D Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.82 %
ENB.PF.K FixedReset Disc -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.66
Evaluated at bid price : 23.34
Bid-YTW : 6.55 %
CU.PR.G Perpetual-Discount 1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 6.00 %
BMO.PR.E FixedReset Prem 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 23.57
Evaluated at bid price : 25.88
Bid-YTW : 5.46 %
BN.PF.E FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 7.19 %
IFC.PR.G FixedReset Ins Non 1.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.57
Evaluated at bid price : 23.25
Bid-YTW : 5.94 %
PWF.PR.A Floater 1.71 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 13.07
Evaluated at bid price : 13.07
Bid-YTW : 6.66 %
IFC.PR.K Insurance Straight 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.50
Evaluated at bid price : 21.84
Bid-YTW : 6.07 %
BN.PF.J FixedReset Disc 3.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.82
Evaluated at bid price : 23.60
Bid-YTW : 6.36 %
Volume Highlights
Issue Index Shares
Traded
Notes
FTS.PR.M FixedReset Disc 153,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 20.53
Evaluated at bid price : 20.53
Bid-YTW : 6.64 %
PWF.PR.P FixedReset Disc 112,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 14.95
Evaluated at bid price : 14.95
Bid-YTW : 7.18 %
ENB.PR.N FixedReset Disc 103,923 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 6.92 %
CU.PR.H Perpetual-Discount 78,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.93 %
NA.PR.E FixedReset Disc 66,976 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 23.27
Evaluated at bid price : 24.72
Bid-YTW : 5.46 %
RY.PR.J FixedReset Disc 58,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.94
Bid-YTW : 4.66 %
There were 18 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
POW.PR.B Perpetual-Discount Quote: 22.03 – 25.00
Spot Rate : 2.9700
Average : 1.7510

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.78
Evaluated at bid price : 22.03
Bid-YTW : 6.12 %

MFC.PR.L FixedReset Ins Non Quote: 21.12 – 23.79
Spot Rate : 2.6700
Average : 1.6962

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.12
Evaluated at bid price : 21.12
Bid-YTW : 6.23 %

IFC.PR.A FixedReset Ins Non Quote: 16.61 – 19.15
Spot Rate : 2.5400
Average : 1.6069

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.00 %

MFC.PR.M FixedReset Ins Non Quote: 21.60 – 25.00
Spot Rate : 3.4000
Average : 2.9119

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 21.32
Evaluated at bid price : 21.60
Bid-YTW : 6.19 %

CU.PR.F Perpetual-Discount Quote: 18.95 – 23.88
Spot Rate : 4.9300
Average : 4.4920

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.05 %

MFC.PR.K FixedReset Ins Non Quote: 23.40 – 24.09
Spot Rate : 0.6900
Average : 0.4725

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-29
Maturity Price : 22.62
Evaluated at bid price : 23.40
Bid-YTW : 5.72 %

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