Market Action

May 23, 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 -0.1376 % 2,152.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1376 % 4,190.0
Floater 7.16 % 7.53 % 57,756 11.84 3 -0.1376 % 2,414.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.8502 % 3,626.3
SplitShare 4.82 % 3.93 % 60,101 0.75 8 -0.8502 % 4,330.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.8502 % 3,378.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.5256 % 2,920.0
Perpetual-Discount 5.89 % 6.04 % 49,017 13.83 33 0.5256 % 3,184.1
FixedReset Disc 5.56 % 6.42 % 118,482 12.91 51 0.2811 % 2,832.9
Insurance Straight 5.85 % 5.98 % 60,154 13.86 21 -0.3113 % 3,093.9
FloatingReset 5.63 % 5.76 % 32,595 14.18 3 -0.0153 % 3,620.2
FixedReset Prem 6.41 % 5.47 % 118,435 3.41 8 0.2607 % 2,590.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2811 % 2,895.8
FixedReset Ins Non 5.33 % 5.86 % 61,400 14.06 14 0.6757 % 2,894.3
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -7.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %
CCS.PR.C Insurance Straight -2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.97 %
PVS.PR.K SplitShare -2.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.43
Bid-YTW : 5.06 %
BN.PF.E FixedReset Disc -1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.92
Evaluated at bid price : 18.92
Bid-YTW : 7.21 %
PVS.PR.J SplitShare -1.75 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 24.65
Bid-YTW : 4.90 %
GWO.PR.H Insurance Straight -1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.07 %
CU.PR.C FixedReset Disc -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.44 %
PWF.PR.S Perpetual-Discount -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 6.06 %
MFC.PR.C Insurance Straight -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.77 %
ENB.PR.P FixedReset Disc 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.87
Evaluated at bid price : 19.87
Bid-YTW : 6.99 %
ENB.PF.G FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 7.07 %
ENB.PR.F FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.23
Evaluated at bid price : 19.23
Bid-YTW : 7.10 %
PWF.PR.P FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 16.21
Evaluated at bid price : 16.21
Bid-YTW : 6.78 %
ENB.PR.B FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.63
Evaluated at bid price : 18.63
Bid-YTW : 7.12 %
POW.PR.G Perpetual-Discount 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.09
Evaluated at bid price : 23.35
Bid-YTW : 6.07 %
IFC.PR.I Insurance Straight 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.86
Evaluated at bid price : 23.30
Bid-YTW : 5.87 %
ENB.PF.K FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.03
Evaluated at bid price : 24.05
Bid-YTW : 6.31 %
FTS.PR.K FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.07 %
ENB.PR.N FixedReset Disc 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.77
Evaluated at bid price : 22.08
Bid-YTW : 6.60 %
TD.PF.I FixedReset Prem 1.79 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.55
Bid-YTW : 5.54 %
MFC.PR.J FixedReset Ins Non 1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.28
Evaluated at bid price : 24.65
Bid-YTW : 5.62 %
GWO.PR.I Insurance Straight 2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.85 %
MFC.PR.I FixedReset Ins Non 5.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.28
Evaluated at bid price : 24.43
Bid-YTW : 5.86 %
CU.PR.F Perpetual-Discount 17.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 4.92 %
Volume Highlights
Issue Index Shares
Traded
Notes
ENB.PF.G FixedReset Disc 118,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 7.07 %
ENB.PF.A FixedReset Disc 99,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 7.08 %
BN.PF.G FixedReset Disc 91,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.95 %
ENB.PR.Y FixedReset Disc 54,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 7.08 %
CU.PR.C FixedReset Disc 53,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.44 %
ENB.PF.C FixedReset Disc 47,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 7.10 %
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
FTS.PR.K FixedReset Disc Quote: 20.95 – 22.84
Spot Rate : 1.8900
Average : 1.0976

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.07 %

SLF.PR.E Insurance Straight Quote: 18.90 – 21.20
Spot Rate : 2.3000
Average : 1.5694

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %

MFC.PR.M FixedReset Ins Non Quote: 21.15 – 22.98
Spot Rate : 1.8300
Average : 1.4668

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.31 %

SLF.PR.C Insurance Straight Quote: 19.95 – 21.45
Spot Rate : 1.5000
Average : 1.1372

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.67 %

IFC.PR.C FixedReset Ins Non Quote: 23.12 – 24.12
Spot Rate : 1.0000
Average : 0.6523

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.67
Evaluated at bid price : 23.12
Bid-YTW : 5.84 %

PVS.PR.K SplitShare Quote: 24.43 – 25.65
Spot Rate : 1.2200
Average : 0.9099

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.43
Bid-YTW : 5.06 %

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