TXPR closed at 635.41, up 0.86% on the day after setting a new 52-week high. Volume today was 1.29-million, near the median of the past 21 trading days.
CPD closed at 12.57, up 0.48% on the day after setting a new 52-week high. Volume was 56,850, below the median of the past 21 trading days.
ZPR closed at 10.95, up 0.74% on the day after setting a new 52-week high. Volume was 71,010, a little below the median of the past 21 trading days.
Five-year Canada yields were steady at 2.99%.
And that’s it for another year!
| 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 | -0.7194 % | 2,270.9 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.7194 % | 4,355.5 |
| Floater | 7.68 % | 7.94 % | 38,089 | 11.49 | 4 | -0.7194 % | 2,510.1 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0340 % | 3,637.2 |
| SplitShare | 4.75 % | 4.43 % | 56,334 | 1.12 | 7 | -0.0340 % | 4,343.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0340 % | 3,389.1 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0175 % | 2,877.0 |
| Perpetual-Discount | 5.97 % | 6.11 % | 54,369 | 13.71 | 32 | 0.0175 % | 3,137.2 |
| FixedReset Disc | 5.34 % | 6.53 % | 103,997 | 12.84 | 53 | 0.4097 % | 2,812.7 |
| Insurance Straight | 5.93 % | 6.02 % | 64,599 | 13.86 | 21 | 0.6484 % | 3,052.7 |
| FloatingReset | 6.45 % | 6.40 % | 44,370 | 13.34 | 4 | -0.1519 % | 3,332.0 |
| FixedReset Prem | 6.02 % | 5.56 % | 187,338 | 13.70 | 9 | 0.0606 % | 2,604.1 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4097 % | 2,875.1 |
| FixedReset Ins Non | 5.21 % | 6.00 % | 78,025 | 13.88 | 14 | 0.5354 % | 2,899.9 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| CU.PR.H | Perpetual-Discount | -4.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.19 % |
| RY.PR.O | Perpetual-Discount | -2.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 23.69 Evaluated at bid price : 24.00 Bid-YTW : 5.15 % |
| ENB.PR.D | FixedReset Disc | -2.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 18.45 Evaluated at bid price : 18.45 Bid-YTW : 7.43 % |
| MFC.PR.N | FixedReset Ins Non | -1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.36 % |
| FFH.PR.F | FloatingReset | -1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.72 Evaluated at bid price : 22.00 Bid-YTW : 6.11 % |
| BN.PR.C | Floater | -1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 12.12 Evaluated at bid price : 12.12 Bid-YTW : 7.95 % |
| ENB.PR.P | FixedReset Disc | 1.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 20.19 Evaluated at bid price : 20.19 Bid-YTW : 7.09 % |
| MFC.PR.B | Insurance Straight | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 20.10 Evaluated at bid price : 20.10 Bid-YTW : 5.84 % |
| PWF.PR.E | Perpetual-Discount | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 22.67 Evaluated at bid price : 22.91 Bid-YTW : 6.11 % |
| GWO.PR.Q | Insurance Straight | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.45 Evaluated at bid price : 21.45 Bid-YTW : 6.05 % |
| FFH.PR.G | FixedReset Disc | 1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.62 Evaluated at bid price : 22.00 Bid-YTW : 6.21 % |
| ENB.PR.J | FixedReset Disc | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 7.07 % |
| ENB.PR.T | FixedReset Disc | 1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.14 Evaluated at bid price : 21.14 Bid-YTW : 6.92 % |
| BN.PR.T | FixedReset Disc | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 18.08 Evaluated at bid price : 18.08 Bid-YTW : 7.09 % |
| BN.PR.R | FixedReset Disc | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 18.01 Evaluated at bid price : 18.01 Bid-YTW : 7.12 % |
| GWO.PR.R | Insurance Straight | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 19.90 Evaluated at bid price : 19.90 Bid-YTW : 6.08 % |
| ENB.PR.H | FixedReset Disc | 1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 20.61 Evaluated at bid price : 20.61 Bid-YTW : 6.63 % |
| ENB.PR.B | FixedReset Disc | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 18.80 Evaluated at bid price : 18.80 Bid-YTW : 7.27 % |
| ENB.PF.K | FixedReset Disc | 1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 22.33 Evaluated at bid price : 22.86 Bid-YTW : 6.85 % |
| BN.PF.J | FixedReset Disc | 1.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 22.77 Evaluated at bid price : 23.58 Bid-YTW : 6.53 % |
| IFC.PR.C | FixedReset Ins Non | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.76 Evaluated at bid price : 22.24 Bid-YTW : 6.11 % |
| ENB.PR.Y | FixedReset Disc | 1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 18.80 Evaluated at bid price : 18.80 Bid-YTW : 7.25 % |
| SLF.PR.D | Insurance Straight | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 20.12 Evaluated at bid price : 20.12 Bid-YTW : 5.57 % |
| FTS.PR.H | FixedReset Disc | 1.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 16.23 Evaluated at bid price : 16.23 Bid-YTW : 6.83 % |
| GWO.PR.P | Insurance Straight | 1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 22.26 Evaluated at bid price : 22.53 Bid-YTW : 6.02 % |
| FFH.PR.E | FixedReset Disc | 1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.95 Evaluated at bid price : 22.48 Bid-YTW : 5.73 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BN.PF.B | FixedReset Disc | 60,433 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 21.86 Evaluated at bid price : 22.27 Bid-YTW : 6.53 % |
| TD.PF.J | FixedReset Prem | 49,686 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 23.38 Evaluated at bid price : 25.13 Bid-YTW : 5.71 % |
| FFH.PR.K | FixedReset Disc | 37,696 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 23.05 Evaluated at bid price : 23.90 Bid-YTW : 6.60 % |
| ENB.PR.B | FixedReset Disc | 37,203 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 18.80 Evaluated at bid price : 18.80 Bid-YTW : 7.27 % |
| CM.PR.Q | FixedReset Disc | 30,867 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-07-31 Maturity Price : 25.00 Evaluated at bid price : 24.65 Bid-YTW : 5.20 % |
| NA.PR.G | FixedReset Prem | 22,605 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-12-31 Maturity Price : 23.62 Evaluated at bid price : 26.23 Bid-YTW : 5.78 % |
| There were 13 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| IFC.PR.F | Insurance Straight | Quote: 22.14 – 24.99 Spot Rate : 2.8500 Average : 1.5936 YTW SCENARIO |
| CU.PR.F | Perpetual-Discount | Quote: 19.46 – 20.70 Spot Rate : 1.2400 Average : 0.7231 YTW SCENARIO |
| GWO.PR.I | Insurance Straight | Quote: 18.70 – 19.99 Spot Rate : 1.2900 Average : 0.8771 YTW SCENARIO |
| CU.PR.H | Perpetual-Discount | Quote: 21.50 – 22.48 Spot Rate : 0.9800 Average : 0.6148 YTW SCENARIO |
| ENB.PF.G | FixedReset Disc | Quote: 18.80 – 19.55 Spot Rate : 0.7500 Average : 0.4432 YTW SCENARIO |
| FFH.PR.F | FloatingReset | Quote: 22.00 – 22.80 Spot Rate : 0.8000 Average : 0.4968 YTW SCENARIO |
[…] general, than PerpetualDiscounts although the spread has narrowed considerably in the past year; on December 31, I reported median YTWs of 6.53% and 6.11%, respectively, for these two indices; compare with mean […]