Market Action

May 28, 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 0.1366 % 2,173.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1366 % 4,231.6
Floater 7.09 % 7.51 % 58,507 11.86 3 0.1366 % 2,438.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0694 % 3,648.9
SplitShare 4.79 % 4.07 % 84,017 2.59 8 0.0694 % 4,357.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0694 % 3,400.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.2609 % 2,918.6
Perpetual-Discount 5.89 % 6.03 % 50,508 13.85 33 0.2609 % 3,182.6
FixedReset Disc 5.56 % 6.27 % 122,603 12.80 50 0.2820 % 2,860.8
Insurance Straight 5.83 % 5.95 % 59,778 13.91 21 -0.4886 % 3,105.5
FloatingReset 5.56 % 5.70 % 36,530 14.28 3 0.7628 % 3,661.8
FixedReset Prem 6.37 % 5.28 % 117,142 3.35 8 0.0239 % 2,604.6
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2820 % 2,924.3
FixedReset Ins Non 5.24 % 5.78 % 60,685 14.04 14 0.8270 % 2,939.9
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -7.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 6.04 %
IFC.PR.F Insurance Straight -4.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.63
Evaluated at bid price : 22.00
Bid-YTW : 6.12 %
CCS.PR.C Insurance Straight -3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.98 %
GWO.PR.H Insurance Straight -1.79 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.07 %
BIP.PR.F FixedReset Disc -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.96
Evaluated at bid price : 24.15
Bid-YTW : 6.26 %
ENB.PR.F FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 7.05 %
BIP.PR.B FixedReset Disc 1.04 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-31
Maturity Price : 25.00
Evaluated at bid price : 25.26
Bid-YTW : 5.22 %
MFC.PR.F FixedReset Ins Non 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.31 %
BIP.PR.A FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.17
Bid-YTW : 3.47 %
GWO.PR.Y Insurance Straight 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 5.83 %
GWO.PR.P Insurance Straight 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.77
Evaluated at bid price : 23.05
Bid-YTW : 5.95 %
MFC.PR.B Insurance Straight 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.38
Evaluated at bid price : 20.38
Bid-YTW : 5.72 %
IFC.PR.A FixedReset Ins Non 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.57 %
ENB.PR.H FixedReset Disc 1.48 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 6.45 %
CU.PR.G Perpetual-Discount 1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.29
Evaluated at bid price : 19.29
Bid-YTW : 5.87 %
GWO.PR.T Insurance Straight 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.48
Evaluated at bid price : 21.80
Bid-YTW : 6.00 %
SLF.PR.C Insurance Straight 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.54 %
BN.PF.E FixedReset Disc 1.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.64
Evaluated at bid price : 19.64
Bid-YTW : 6.98 %
IFC.PR.I Insurance Straight 1.96 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.99
Evaluated at bid price : 23.45
Bid-YTW : 5.84 %
ENB.PR.B FixedReset Disc 2.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 7.14 %
GWO.PR.S Insurance Straight 2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 22.22
Evaluated at bid price : 22.50
Bid-YTW : 5.93 %
FTS.PR.H FixedReset Disc 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 6.46 %
SLF.PR.J FloatingReset 4.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 5.81 %
PWF.PR.F Perpetual-Discount 4.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.89
Evaluated at bid price : 22.13
Bid-YTW : 5.99 %
SLF.PR.H FixedReset Ins Non 8.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.16
Evaluated at bid price : 20.16
Bid-YTW : 6.08 %
Volume Highlights
Issue Index Shares
Traded
Notes
BIP.PR.A FixedReset Disc 391,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-30
Maturity Price : 25.00
Evaluated at bid price : 25.17
Bid-YTW : 3.47 %
ENB.PR.B FixedReset Disc 163,922 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.68
Evaluated at bid price : 18.68
Bid-YTW : 7.14 %
BN.PF.J FixedReset Disc 119,320 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 23.30
Evaluated at bid price : 24.60
Bid-YTW : 6.20 %
ENB.PF.C FixedReset Disc 117,161 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 7.03 %
RY.PR.M FixedReset Disc 70,610 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-11-24
Maturity Price : 25.00
Evaluated at bid price : 24.71
Bid-YTW : 5.48 %
ENB.PF.G FixedReset Disc 63,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.65
Evaluated at bid price : 19.65
Bid-YTW : 7.10 %
There were 24 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.F Perpetual-Discount Quote: 19.35 – 23.88
Spot Rate : 4.5300
Average : 3.9061

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %

IFC.PR.F Insurance Straight Quote: 22.00 – 24.00
Spot Rate : 2.0000
Average : 1.4311

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 21.63
Evaluated at bid price : 22.00
Bid-YTW : 6.12 %

BN.PF.E FixedReset Disc Quote: 19.64 – 20.99
Spot Rate : 1.3500
Average : 0.8642

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 19.64
Evaluated at bid price : 19.64
Bid-YTW : 6.98 %

BN.PR.R FixedReset Disc Quote: 18.49 – 20.00
Spot Rate : 1.5100
Average : 1.0366

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.49
Evaluated at bid price : 18.49
Bid-YTW : 6.94 %

CU.PR.C FixedReset Disc Quote: 20.57 – 21.96
Spot Rate : 1.3900
Average : 0.9546

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.48 %

SLF.PR.E Insurance Straight Quote: 18.65 – 20.59
Spot Rate : 1.9400
Average : 1.5435

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-28
Maturity Price : 18.65
Evaluated at bid price : 18.65
Bid-YTW : 6.04 %

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