Market Action

May 9, 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 1.1507 % 2,137.6
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.1507 % 4,161.2
Floater 7.21 % 7.64 % 60,879 11.74 3 1.1507 % 2,398.1
OpRet 0.00 % 0.00 % 0 0.00 0 0.0543 % 3,665.0
SplitShare 4.77 % 4.41 % 79,509 2.61 8 0.0543 % 4,376.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0543 % 3,415.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.9980 % 2,926.1
Perpetual-Discount 5.88 % 6.02 % 50,130 13.86 33 0.9980 % 3,190.8
FixedReset Disc 5.60 % 6.39 % 110,774 12.83 51 0.4064 % 2,811.5
Insurance Straight 5.85 % 5.93 % 64,882 13.97 21 -0.2270 % 3,093.1
FloatingReset 5.70 % 5.78 % 32,697 14.17 3 0.0621 % 3,575.3
FixedReset Prem 6.42 % 5.40 % 118,604 3.45 8 0.0434 % 2,585.0
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4064 % 2,874.0
FixedReset Ins Non 5.39 % 5.93 % 64,076 13.92 14 0.7920 % 2,861.5
Performance Highlights
Issue Index Change Notes
SLF.PR.C Insurance Straight -3.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.61
Evaluated at bid price : 19.61
Bid-YTW : 5.76 %
SLF.PR.E Insurance Straight -3.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.88 %
MFC.PR.B Insurance Straight -2.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 5.90 %
PWF.PR.T FixedReset Disc -2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 21.52
Evaluated at bid price : 21.52
Bid-YTW : 6.16 %
BN.PF.I FixedReset Disc -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 23.35
Evaluated at bid price : 23.70
Bid-YTW : 6.89 %
GWO.PR.Y Insurance Straight -1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.28
Evaluated at bid price : 19.28
Bid-YTW : 5.92 %
ENB.PF.A FixedReset Disc 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 7.01 %
BN.PR.K Floater 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 11.35
Evaluated at bid price : 11.35
Bid-YTW : 7.77 %
POW.PR.B Perpetual-Discount 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 22.07
Evaluated at bid price : 22.30
Bid-YTW : 6.06 %
BN.PR.M Perpetual-Discount 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.26
Evaluated at bid price : 19.26
Bid-YTW : 6.26 %
ENB.PR.J FixedReset Disc 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 7.03 %
MFC.PR.Q FixedReset Ins Non 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 23.00
Evaluated at bid price : 24.08
Bid-YTW : 5.69 %
PWF.PR.L Perpetual-Discount 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 6.06 %
IFC.PR.C FixedReset Ins Non 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 21.33
Evaluated at bid price : 21.62
Bid-YTW : 6.12 %
ENB.PR.A Perpetual-Discount 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 5.96 %
MFC.PR.J FixedReset Ins Non 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 23.28
Evaluated at bid price : 24.67
Bid-YTW : 5.62 %
PWF.PR.H Perpetual-Discount 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 23.68
Evaluated at bid price : 23.95
Bid-YTW : 6.04 %
ENB.PR.H FixedReset Disc 1.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.42
Evaluated at bid price : 20.42
Bid-YTW : 6.48 %
PWF.PR.P FixedReset Disc 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 15.50
Evaluated at bid price : 15.50
Bid-YTW : 6.90 %
BN.PR.B Floater 1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 11.55
Evaluated at bid price : 11.55
Bid-YTW : 7.64 %
BN.PR.R FixedReset Disc 1.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 7.00 %
PWF.PR.Z Perpetual-Discount 2.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 21.43
Evaluated at bid price : 21.43
Bid-YTW : 6.06 %
GWO.PR.R Insurance Straight 2.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.93 %
ENB.PR.D FixedReset Disc 2.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.04
Evaluated at bid price : 19.04
Bid-YTW : 6.99 %
BN.PR.X FixedReset Disc 2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 16.94
Evaluated at bid price : 16.94
Bid-YTW : 6.87 %
PWF.PR.K Perpetual-Discount 2.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.58
Evaluated at bid price : 20.58
Bid-YTW : 6.07 %
ENB.PR.T FixedReset Disc 2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.85 %
GWO.PR.I Insurance Straight 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.88 %
ENB.PR.P FixedReset Disc 3.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.97 %
ENB.PR.B FixedReset Disc 3.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 7.10 %
SLF.PR.G FixedReset Ins Non 5.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.33 %
CU.PR.F Perpetual-Discount 21.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 4.91 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.J FixedReset Disc 345,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.96
Bid-YTW : 5.03 %
FTS.PR.M FixedReset Disc 77,521 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 21.13
Evaluated at bid price : 21.13
Bid-YTW : 6.44 %
PWF.PR.T FixedReset Disc 50,003 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 21.52
Evaluated at bid price : 21.52
Bid-YTW : 6.16 %
ENB.PF.C FixedReset Disc 47,740 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 7.08 %
ENB.PR.Y FixedReset Disc 41,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 7.01 %
ENB.PR.D FixedReset Disc 39,853 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.04
Evaluated at bid price : 19.04
Bid-YTW : 6.99 %
There were 13 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: 22.30 – 24.95
Spot Rate : 2.6500
Average : 1.9278

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 22.07
Evaluated at bid price : 22.30
Bid-YTW : 6.06 %

BN.PR.T FixedReset Disc Quote: 17.49 – 18.90
Spot Rate : 1.4100
Average : 0.8087

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 17.49
Evaluated at bid price : 17.49
Bid-YTW : 7.12 %

SLF.PR.E Insurance Straight Quote: 19.40 – 20.85
Spot Rate : 1.4500
Average : 1.0721

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.88 %

CU.PR.D Perpetual-Discount Quote: 20.66 – 21.85
Spot Rate : 1.1900
Average : 0.8138

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 20.66
Evaluated at bid price : 20.66
Bid-YTW : 5.95 %

GWO.PR.Y Insurance Straight Quote: 19.28 – 21.00
Spot Rate : 1.7200
Average : 1.3991

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-09
Maturity Price : 19.28
Evaluated at bid price : 19.28
Bid-YTW : 5.92 %

PVS.PR.J SplitShare Quote: 25.21 – 26.21
Spot Rate : 1.0000
Average : 0.6907

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 25.21
Bid-YTW : 4.39 %

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