Market Action

May 1, 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 0.7519 % 2,066.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.7519 % 4,022.6
Floater 7.46 % 7.90 % 71,068 11.47 3 0.7519 % 2,318.2
OpRet 0.00 % 0.00 % 0 0.00 0 0.1539 % 3,648.0
SplitShare 4.79 % 4.66 % 84,346 2.63 8 0.1539 % 4,356.5
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1539 % 3,399.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.6867 % 2,870.0
Perpetual-Discount 5.99 % 6.13 % 51,883 13.71 33 0.6867 % 3,129.6
FixedReset Disc 5.71 % 6.56 % 116,447 12.66 49 0.6618 % 2,753.4
Insurance Straight 5.92 % 6.00 % 70,396 13.87 21 0.4803 % 3,060.3
FloatingReset 5.93 % 5.96 % 35,200 13.90 3 0.3521 % 3,476.0
FixedReset Prem 6.38 % 5.45 % 141,469 13.66 10 0.4439 % 2,564.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.6618 % 2,814.5
FixedReset Ins Non 5.63 % 6.03 % 66,981 13.61 12 2.8332 % 2,796.4
Performance Highlights
Issue Index Change Notes
CU.PR.G Perpetual-Discount -14.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 7.04 %
BN.PF.J FixedReset Disc -3.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.32
Evaluated at bid price : 22.75
Bid-YTW : 6.63 %
BN.PF.F FixedReset Disc -2.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 7.20 %
IFC.PR.F Insurance Straight -1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.58
Evaluated at bid price : 21.95
Bid-YTW : 6.10 %
GWO.PR.N FixedReset Ins Non 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 15.12
Evaluated at bid price : 15.12
Bid-YTW : 6.66 %
ENB.PR.P FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 7.25 %
MFC.PR.Q FixedReset Ins Non 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.57
Evaluated at bid price : 23.25
Bid-YTW : 5.94 %
BIP.PR.F FixedReset Disc 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.34
Evaluated at bid price : 22.95
Bid-YTW : 6.49 %
NA.PR.S FixedReset Prem 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.24
Evaluated at bid price : 25.00
Bid-YTW : 5.36 %
GWO.PR.H Insurance Straight 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 5.99 %
CM.PR.S FixedReset Prem 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 25.20
Evaluated at bid price : 25.20
Bid-YTW : 5.35 %
GWO.PR.I Insurance Straight 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 5.92 %
FFH.PR.I FixedReset Disc 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.79
Evaluated at bid price : 23.45
Bid-YTW : 5.94 %
MFC.PR.F FixedReset Ins Non 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 15.60
Evaluated at bid price : 15.60
Bid-YTW : 6.59 %
ENB.PF.E FixedReset Disc 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.55
Evaluated at bid price : 18.55
Bid-YTW : 7.46 %
PWF.PR.E Perpetual-Discount 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.66
Evaluated at bid price : 22.90
Bid-YTW : 6.04 %
ENB.PR.D FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.04
Evaluated at bid price : 18.04
Bid-YTW : 7.40 %
MFC.PR.L FixedReset Ins Non 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.52
Evaluated at bid price : 21.52
Bid-YTW : 6.11 %
PWF.PR.H Perpetual-Discount 1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.30
Evaluated at bid price : 23.58
Bid-YTW : 6.13 %
ENB.PR.Y FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.20
Evaluated at bid price : 18.20
Bid-YTW : 7.32 %
PWF.PR.K Perpetual-Discount 1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.21
Evaluated at bid price : 20.21
Bid-YTW : 6.17 %
GWO.PR.R Insurance Straight 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.02 %
IFC.PR.G FixedReset Ins Non 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.76
Evaluated at bid price : 23.60
Bid-YTW : 5.84 %
BN.PF.G FixedReset Disc 1.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.54
Evaluated at bid price : 19.54
Bid-YTW : 7.27 %
PWF.PR.S Perpetual-Discount 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.05 %
PWF.PR.F Perpetual-Discount 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.47
Evaluated at bid price : 21.73
Bid-YTW : 6.07 %
BN.PR.B Floater 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 11.15
Evaluated at bid price : 11.15
Bid-YTW : 7.90 %
CU.PR.D Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.43
Evaluated at bid price : 20.43
Bid-YTW : 6.00 %
BN.PR.M Perpetual-Discount 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.35 %
ENB.PF.A FixedReset Disc 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 7.33 %
IFC.PR.E Insurance Straight 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.05
Evaluated at bid price : 22.45
Bid-YTW : 5.84 %
BN.PR.T FixedReset Disc 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.99
Evaluated at bid price : 16.99
Bid-YTW : 7.35 %
ENB.PR.T FixedReset Disc 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.98
Evaluated at bid price : 19.98
Bid-YTW : 7.16 %
MFC.PR.J FixedReset Ins Non 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.13
Evaluated at bid price : 24.31
Bid-YTW : 5.74 %
BN.PR.X FixedReset Disc 1.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.08
Evaluated at bid price : 16.08
Bid-YTW : 7.27 %
BN.PF.A FixedReset Disc 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.51
Evaluated at bid price : 23.20
Bid-YTW : 6.46 %
POW.PR.D Perpetual-Discount 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.90 %
ENB.PR.B FixedReset Disc 1.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 7.43 %
BN.PR.R FixedReset Disc 2.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 17.02
Evaluated at bid price : 17.02
Bid-YTW : 7.34 %
ENB.PF.K FixedReset Disc 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.00
Evaluated at bid price : 24.01
Bid-YTW : 6.35 %
MFC.PR.I FixedReset Ins Non 2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.32
Evaluated at bid price : 24.55
Bid-YTW : 5.84 %
SLF.PR.G FixedReset Ins Non 2.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.21
Evaluated at bid price : 16.21
Bid-YTW : 6.52 %
ENB.PR.H FixedReset Disc 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.73 %
IFC.PR.K Insurance Straight 2.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.82
Evaluated at bid price : 22.17
Bid-YTW : 5.98 %
MFC.PR.M FixedReset Ins Non 2.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.74
Evaluated at bid price : 22.12
Bid-YTW : 6.03 %
CU.PR.C FixedReset Disc 3.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.20
Evaluated at bid price : 20.20
Bid-YTW : 6.44 %
BN.PR.N Perpetual-Discount 5.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.34 %
IFC.PR.C FixedReset Ins Non 8.51 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 20.40
Evaluated at bid price : 20.40
Bid-YTW : 6.52 %
IFC.PR.A FixedReset Ins Non 10.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.40
Evaluated at bid price : 18.40
Bid-YTW : 6.31 %
CU.PR.F Perpetual-Discount 23.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 4.90 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.J FixedReset Disc 3,126,503 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 4.56 %
TD.PF.E FixedReset Disc 45,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 23.81
Evaluated at bid price : 24.50
Bid-YTW : 5.71 %
PVS.PR.L SplitShare 36,169 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2030-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.55
Bid-YTW : 5.23 %
BN.PF.E FixedReset Disc 32,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 7.19 %
ENB.PR.T FixedReset Disc 26,220 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.98
Evaluated at bid price : 19.98
Bid-YTW : 7.16 %
PVS.PR.J SplitShare 14,800 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 25.01
Bid-YTW : 4.66 %
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
CU.PR.G Perpetual-Discount Quote: 16.00 – 19.30
Spot Rate : 3.3000
Average : 1.8663

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 16.00
Evaluated at bid price : 16.00
Bid-YTW : 7.04 %

SLF.PR.C Insurance Straight Quote: 19.60 – 21.45
Spot Rate : 1.8500
Average : 1.0850

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.75 %

BN.PR.Z FixedReset Disc Quote: 21.45 – 22.90
Spot Rate : 1.4500
Average : 0.8108

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.89 %

MFC.PR.M FixedReset Ins Non Quote: 22.12 – 25.00
Spot Rate : 2.8800
Average : 2.2860

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 21.74
Evaluated at bid price : 22.12
Bid-YTW : 6.03 %

TD.PF.J FixedReset Prem Quote: 25.26 – 26.26
Spot Rate : 1.0000
Average : 0.5912

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2028-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : 5.41 %

BN.PF.G FixedReset Disc Quote: 19.54 – 20.48
Spot Rate : 0.9400
Average : 0.5619

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-01
Maturity Price : 19.54
Evaluated at bid price : 19.54
Bid-YTW : 7.27 %

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