Market Action

April 30, 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 -1.4253 % 2,051.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 -1.4253 % 3,992.6
Floater 7.52 % 8.02 % 71,917 11.34 3 -1.4253 % 2,300.9
OpRet 0.00 % 0.00 % 0 0.00 0 0.1193 % 3,642.4
SplitShare 4.80 % 4.64 % 64,362 1.73 8 0.1193 % 4,349.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1193 % 3,393.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0456 % 2,850.4
Perpetual-Discount 6.03 % 6.15 % 52,438 13.67 33 0.0456 % 3,108.2
FixedReset Disc 5.74 % 6.60 % 117,464 12.68 49 0.1553 % 2,735.3
Insurance Straight 5.94 % 6.04 % 71,365 13.81 21 0.2316 % 3,045.7
FloatingReset 5.95 % 5.96 % 36,646 13.90 3 -0.3827 % 3,463.8
FixedReset Prem 6.41 % 5.44 % 143,736 13.68 10 0.1377 % 2,553.6
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1553 % 2,796.0
FixedReset Ins Non 5.79 % 6.20 % 67,184 13.37 12 -0.1157 % 2,719.4
Performance Highlights
Issue Index Change Notes
IFC.PR.C FixedReset Ins Non -3.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 7.07 %
BN.PR.N Perpetual-Discount -3.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.69 %
PWF.PR.A Floater -2.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.83 %
BN.PR.K Floater -1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 8.12 %
PWF.PR.K Perpetual-Discount -1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.93
Evaluated at bid price : 19.93
Bid-YTW : 6.26 %
ENB.PR.D FixedReset Disc -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 7.51 %
IFC.PR.K Insurance Straight -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 21.32
Evaluated at bid price : 21.60
Bid-YTW : 6.14 %
BN.PR.X FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 15.80
Evaluated at bid price : 15.80
Bid-YTW : 7.40 %
GWO.PR.I Insurance Straight 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.01
Evaluated at bid price : 19.01
Bid-YTW : 6.00 %
BIP.PR.B FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 6.21 %
IFC.PR.F Insurance Straight 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 21.89
Evaluated at bid price : 22.31
Bid-YTW : 5.99 %
MFC.PR.C Insurance Straight 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.32
Evaluated at bid price : 19.32
Bid-YTW : 5.91 %
ENB.PR.A Perpetual-Discount 1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 22.60
Evaluated at bid price : 22.85
Bid-YTW : 6.12 %
BN.PF.I FixedReset Disc 1.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 23.20
Evaluated at bid price : 23.55
Bid-YTW : 6.95 %
MFC.PR.I FixedReset Ins Non 2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 23.04
Evaluated at bid price : 23.93
Bid-YTW : 6.02 %
POW.PR.D Perpetual-Discount 2.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.01 %
BN.PF.F FixedReset Disc 2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 7.00 %
Volume Highlights
Issue Index Shares
Traded
Notes
ENB.PF.E FixedReset Disc 125,810 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.31
Evaluated at bid price : 18.31
Bid-YTW : 7.56 %
ENB.PR.B FixedReset Disc 64,263 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 17.55
Evaluated at bid price : 17.55
Bid-YTW : 7.58 %
FTS.PR.M FixedReset Disc 57,728 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.62 %
BN.PR.B Floater 21,535 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 10.98
Evaluated at bid price : 10.98
Bid-YTW : 8.02 %
CU.PR.C FixedReset Disc 21,273 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 19.86
Evaluated at bid price : 19.86
Bid-YTW : 6.68 %
BN.PR.K Floater 20,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 10.85
Evaluated at bid price : 10.85
Bid-YTW : 8.12 %
There were 6 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.L Insurance Straight Quote: 23.56 – 24.99
Spot Rate : 1.4300
Average : 0.8332

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 23.26
Evaluated at bid price : 23.56
Bid-YTW : 6.06 %

BIP.PR.A FixedReset Disc Quote: 23.00 – 24.45
Spot Rate : 1.4500
Average : 0.8856

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 22.27
Evaluated at bid price : 23.00
Bid-YTW : 6.93 %

IFC.PR.A FixedReset Ins Non Quote: 16.61 – 19.18
Spot Rate : 2.5700
Average : 2.1106

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 16.61
Evaluated at bid price : 16.61
Bid-YTW : 7.00 %

CU.PR.I FixedReset Disc Quote: 24.74 – 25.50
Spot Rate : 0.7600
Average : 0.4302

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 24.17
Evaluated at bid price : 24.74
Bid-YTW : 6.55 %

BN.PR.N Perpetual-Discount Quote: 18.00 – 18.75
Spot Rate : 0.7500
Average : 0.4824

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 6.69 %

CU.PR.F Perpetual-Discount Quote: 18.83 – 23.88
Spot Rate : 5.0500
Average : 4.7838

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-04-30
Maturity Price : 18.83
Evaluated at bid price : 18.83
Bid-YTW : 6.09 %

Leave a Reply