Market Action

May 27, 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 0.4666 % 2,170.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4666 % 4,225.8
Floater 7.10 % 7.50 % 58,247 11.86 3 0.4666 % 2,435.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.4032 % 3,646.4
SplitShare 4.80 % 4.30 % 85,135 2.59 8 0.4032 % 4,354.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4032 % 3,397.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.3697 % 2,911.0
Perpetual-Discount 5.91 % 6.04 % 50,336 13.81 33 -0.3697 % 3,174.3
FixedReset Disc 5.58 % 6.33 % 122,248 12.85 50 0.4133 % 2,852.8
Insurance Straight 5.80 % 5.91 % 59,072 13.98 21 1.0591 % 3,120.8
FloatingReset 5.60 % 5.72 % 34,889 14.22 3 0.0763 % 3,634.0
FixedReset Prem 6.37 % 5.27 % 116,645 3.41 8 0.2208 % 2,603.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4133 % 2,916.1
FixedReset Ins Non 5.29 % 5.83 % 60,851 13.99 14 -0.2749 % 2,915.7
Performance Highlights
Issue Index Change Notes
CU.PR.F Perpetual-Discount -15.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %
SLF.PR.H FixedReset Ins Non -7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.62 %
PWF.PR.F Perpetual-Discount -3.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.27 %
GWO.PR.S Insurance Straight -2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.78
Evaluated at bid price : 22.03
Bid-YTW : 6.06 %
ENB.PR.B FixedReset Disc -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.29 %
GWO.PR.T Insurance Straight -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.12 %
SLF.PR.C Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 5.65 %
BIP.PR.E FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.32
Evaluated at bid price : 24.75
Bid-YTW : 6.16 %
BN.PF.F FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.50
Evaluated at bid price : 21.78
Bid-YTW : 6.77 %
NA.PR.C FixedReset Prem 1.06 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 26.70
Bid-YTW : 4.23 %
PWF.PF.A Perpetual-Discount 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.01 %
IFC.PR.K Insurance Straight 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.45
Evaluated at bid price : 22.74
Bid-YTW : 5.86 %
BIP.PR.F FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.11
Evaluated at bid price : 24.51
Bid-YTW : 6.15 %
IFC.PR.F Insurance Straight 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.72
Evaluated at bid price : 23.08
Bid-YTW : 5.83 %
PVS.PR.J SplitShare 1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 4.30 %
ENB.PR.H FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.55 %
MFC.PR.K FixedReset Ins Non 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.98
Evaluated at bid price : 24.10
Bid-YTW : 5.53 %
GWO.PR.Y Insurance Straight 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.91 %
FTS.PR.G FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.18
Evaluated at bid price : 22.63
Bid-YTW : 5.83 %
PWF.PR.K Perpetual-Discount 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.05 %
BN.PR.Z FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.26
Evaluated at bid price : 22.65
Bid-YTW : 6.64 %
FTS.PR.K FixedReset Disc 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.97 %
PWF.PR.P FixedReset Disc 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.67 %
MFC.PR.B Insurance Straight 2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.80 %
MFC.PR.C Insurance Straight 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.64 %
PVS.PR.K SplitShare 2.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 4.44 %
GWO.PR.L Insurance Straight 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.59
Evaluated at bid price : 23.86
Bid-YTW : 6.02 %
ENB.PF.C FixedReset Disc 2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 7.07 %
CCS.PR.C Insurance Straight 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 5.77 %
GWO.PR.G Insurance Straight 5.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.92
Evaluated at bid price : 22.16
Bid-YTW : 5.96 %
SLF.PR.E Insurance Straight 7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 5.62 %
Volume Highlights
Issue Index Shares
Traded
Notes
BN.PF.G FixedReset Disc 216,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.88
Evaluated at bid price : 20.88
Bid-YTW : 6.97 %
BN.PF.B FixedReset Disc 193,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.58
Evaluated at bid price : 21.85
Bid-YTW : 6.64 %
TD.PF.A FixedReset Disc 184,701 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.72
Evaluated at bid price : 23.79
Bid-YTW : 5.36 %
TD.PF.I FixedReset Prem 155,239 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.62
Bid-YTW : 5.44 %
BN.PR.T FixedReset Disc 114,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.19
Evaluated at bid price : 18.19
Bid-YTW : 7.04 %
BN.PR.R FixedReset Disc 102,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.95 %
There were 25 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
PWF.PR.P FixedReset Disc Quote: 16.60 – 24.68
Spot Rate : 8.0800
Average : 4.3407

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.67 %

CU.PR.F Perpetual-Discount Quote: 19.35 – 23.88
Spot Rate : 4.5300
Average : 3.2220

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %

PWF.PF.A Perpetual-Discount Quote: 18.95 – 20.43
Spot Rate : 1.4800
Average : 0.9495

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.01 %

SLF.PR.G FixedReset Ins Non Quote: 17.22 – 18.60
Spot Rate : 1.3800
Average : 0.9309

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 6.33 %

TD.PF.D FixedReset Disc Quote: 24.83 – 25.83
Spot Rate : 1.0000
Average : 0.6132

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.91
Evaluated at bid price : 24.83
Bid-YTW : 5.72 %

PWF.PR.F Perpetual-Discount Quote: 21.20 – 22.25
Spot Rate : 1.0500
Average : 0.6876

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.27 %

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