Market Action

May 20, 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 0.4385 % 2,173.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4385 % 4,231.6
Floater 7.09 % 7.40 % 61,916 11.99 3 0.4385 % 2,438.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0837 % 3,676.8
SplitShare 4.76 % 4.38 % 76,113 2.58 8 0.0837 % 4,390.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0837 % 3,425.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.0571 % 2,913.7
Perpetual-Discount 5.90 % 6.02 % 50,337 13.86 33 -0.0571 % 3,177.2
FixedReset Disc 5.57 % 6.48 % 114,917 12.89 51 -0.1696 % 2,827.9
Insurance Straight 5.86 % 5.93 % 62,889 13.93 21 -1.0724 % 3,087.1
FloatingReset 5.64 % 5.75 % 32,385 14.20 3 -0.2906 % 3,614.1
FixedReset Prem 6.40 % 5.50 % 121,353 3.43 8 0.0385 % 2,592.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1696 % 2,890.7
FixedReset Ins Non 5.26 % 5.83 % 62,948 13.93 14 0.5580 % 2,931.4
Performance Highlights
Issue Index Change Notes
GWO.PR.T Insurance Straight -22.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.73 %
ENB.PF.K FixedReset Disc -5.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.25
Evaluated at bid price : 22.66
Bid-YTW : 6.73 %
BN.PF.E FixedReset Disc -5.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.39 %
BIP.PR.E FixedReset Disc -3.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.74
Evaluated at bid price : 23.50
Bid-YTW : 6.50 %
GWO.PR.H Insurance Straight -3.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.09 %
POW.PR.D Perpetual-Discount -2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.04 %
GWO.PR.S Insurance Straight -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 21.78
Evaluated at bid price : 22.03
Bid-YTW : 6.05 %
IFC.PR.I Insurance Straight -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.60
Evaluated at bid price : 23.00
Bid-YTW : 5.95 %
CU.PR.G Perpetual-Discount -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 5.95 %
BN.PF.C Perpetual-Discount -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 6.26 %
POW.PR.C Perpetual-Discount -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.95
Evaluated at bid price : 24.20
Bid-YTW : 6.07 %
GWO.PR.M Insurance Straight -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.95
Evaluated at bid price : 24.20
Bid-YTW : 6.08 %
CU.PR.E Perpetual-Discount -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 6.02 %
BN.PR.K Floater 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 11.94
Evaluated at bid price : 11.94
Bid-YTW : 7.40 %
ENB.PR.H FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.24
Evaluated at bid price : 20.24
Bid-YTW : 6.51 %
NA.PR.S FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.25
Evaluated at bid price : 25.00
Bid-YTW : 5.45 %
IFC.PR.G FixedReset Ins Non 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.27
Evaluated at bid price : 24.75
Bid-YTW : 5.62 %
GWO.PR.I Insurance Straight 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.99 %
MFC.PR.C Insurance Straight 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.31
Evaluated at bid price : 20.31
Bid-YTW : 5.64 %
GWO.PR.Y Insurance Straight 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.90 %
SLF.PR.H FixedReset Ins Non 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.15 %
IFC.PR.E Insurance Straight 5.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.88
Evaluated at bid price : 23.27
Bid-YTW : 5.66 %
ENB.PF.G FixedReset Disc 6.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.37
Evaluated at bid price : 19.37
Bid-YTW : 7.15 %
CU.PR.J Perpetual-Discount 8.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.09
Evaluated at bid price : 19.09
Bid-YTW : 6.25 %
Volume Highlights
Issue Index Shares
Traded
Notes
FFH.PR.G FixedReset Disc 41,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.37
Evaluated at bid price : 24.22
Bid-YTW : 5.57 %
ENB.PF.K FixedReset Disc 35,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.25
Evaluated at bid price : 22.66
Bid-YTW : 6.73 %
MFC.PR.M FixedReset Ins Non 32,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.40
Evaluated at bid price : 23.18
Bid-YTW : 5.81 %
GWO.PR.Y Insurance Straight 27,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.90 %
RY.PR.M FixedReset Disc 26,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 24.01
Evaluated at bid price : 24.65
Bid-YTW : 5.49 %
MFC.PR.B Insurance Straight 26,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 5.74 %
There were 11 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.T Insurance Straight Quote: 17.00 – 22.00
Spot Rate : 5.0000
Average : 2.8090

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.73 %

BN.PF.E FixedReset Disc Quote: 18.45 – 20.99
Spot Rate : 2.5400
Average : 1.6966

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.39 %

ENB.PF.K FixedReset Disc Quote: 22.66 – 23.80
Spot Rate : 1.1400
Average : 0.7332

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.25
Evaluated at bid price : 22.66
Bid-YTW : 6.73 %

TD.PF.A FixedReset Disc Quote: 23.70 – 24.80
Spot Rate : 1.1000
Average : 0.7353

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.68
Evaluated at bid price : 23.70
Bid-YTW : 5.35 %

GWO.PR.Y Insurance Straight Quote: 19.40 – 21.00
Spot Rate : 1.6000
Average : 1.2845

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.90 %

BIP.PR.E FixedReset Disc Quote: 23.50 – 24.45
Spot Rate : 0.9500
Average : 0.6423

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.74
Evaluated at bid price : 23.50
Bid-YTW : 6.50 %

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