Market Action

June 12, 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 0.8850 % 2,311.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.8850 % 4,500.2
Floater 6.91 % 7.07 % 62,146 12.35 2 0.8850 % 2,593.5
OpRet 0.00 % 0.00 % 0 0.00 0 -0.3716 % 3,635.4
SplitShare 4.81 % 3.89 % 55,085 0.70 8 -0.3716 % 4,341.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.3716 % 3,387.3
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.1043 % 2,955.4
Perpetual-Discount 5.82 % 5.97 % 45,029 13.88 33 -0.1043 % 3,222.7
FixedReset Disc 5.62 % 6.34 % 129,838 12.80 46 -0.0718 % 2,890.8
Insurance Straight 5.82 % 5.86 % 53,566 14.17 20 -0.0443 % 3,112.5
FloatingReset 5.60 % 5.76 % 46,416 14.14 3 -0.2252 % 3,683.9
FixedReset Prem 6.08 % 5.22 % 126,188 3.07 12 -0.0934 % 2,610.4
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.0718 % 2,955.0
FixedReset Ins Non 5.24 % 5.88 % 63,357 13.99 14 -1.4658 % 2,939.6
Performance Highlights
Issue Index Change Notes
MFC.PR.I FixedReset Ins Non -6.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 22.83
Evaluated at bid price : 23.13
Bid-YTW : 6.35 %
GWO.PR.N FixedReset Ins Non -6.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 15.46
Evaluated at bid price : 15.46
Bid-YTW : 6.78 %
BN.PR.N Perpetual-Discount -4.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.39 %
PWF.PR.P FixedReset Disc -3.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 6.72 %
ENB.PR.B FixedReset Disc -3.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.39 %
PVS.PR.K SplitShare -2.97 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.50
Bid-YTW : 5.06 %
MFC.PR.Q FixedReset Ins Non -2.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 23.06
Evaluated at bid price : 24.20
Bid-YTW : 5.76 %
SLF.PR.H FixedReset Ins Non -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 6.02 %
PVS.PR.J SplitShare -1.70 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 24.82
Bid-YTW : 4.74 %
ENB.PR.J FixedReset Disc -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 20.32
Evaluated at bid price : 20.32
Bid-YTW : 7.04 %
SLF.PR.J FloatingReset -1.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 5.90 %
MFC.PR.L FixedReset Ins Non -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 22.09
Evaluated at bid price : 22.59
Bid-YTW : 5.86 %
BN.PF.B FixedReset Disc -1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 21.80
Evaluated at bid price : 22.15
Bid-YTW : 6.62 %
IFC.PR.A FixedReset Ins Non -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.60 %
MFC.PR.J FixedReset Ins Non -1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 23.23
Evaluated at bid price : 24.50
Bid-YTW : 5.77 %
IFC.PR.C FixedReset Ins Non -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 22.57
Evaluated at bid price : 23.02
Bid-YTW : 5.98 %
ENB.PR.H FixedReset Disc -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.48 %
BN.PF.C Perpetual-Discount -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 20.06
Evaluated at bid price : 20.06
Bid-YTW : 6.18 %
IFC.PR.I Insurance Straight -1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 23.21
Evaluated at bid price : 23.47
Bid-YTW : 5.86 %
IFC.PR.F Insurance Straight -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 22.67
Evaluated at bid price : 23.00
Bid-YTW : 5.87 %
CU.PR.E Perpetual-Discount 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 21.25
Evaluated at bid price : 21.25
Bid-YTW : 5.82 %
CU.PR.J Perpetual-Discount 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 20.55
Evaluated at bid price : 20.55
Bid-YTW : 5.83 %
GWO.PR.P Insurance Straight 2.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 23.14
Evaluated at bid price : 23.40
Bid-YTW : 5.78 %
SLF.PR.G FixedReset Ins Non 3.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 17.70
Evaluated at bid price : 17.70
Bid-YTW : 6.21 %
FTS.PR.H FixedReset Disc 6.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 17.06
Evaluated at bid price : 17.06
Bid-YTW : 6.43 %
Volume Highlights
Issue Index Shares
Traded
Notes
ENB.PF.K FixedReset Disc 28,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 23.06
Evaluated at bid price : 24.10
Bid-YTW : 6.40 %
BMO.PR.Y FixedReset Disc 21,900 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-08-25
Maturity Price : 25.00
Evaluated at bid price : 24.93
Bid-YTW : 5.21 %
ENB.PF.G FixedReset Disc 18,286 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 20.08
Evaluated at bid price : 20.08
Bid-YTW : 7.05 %
TD.PF.A FixedReset Disc 18,270 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 22.90
Evaluated at bid price : 24.18
Bid-YTW : 5.32 %
BN.PF.G FixedReset Disc 18,146 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 21.51
Evaluated at bid price : 21.51
Bid-YTW : 6.86 %
FFH.PR.G FixedReset Disc 18,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 23.61
Evaluated at bid price : 24.48
Bid-YTW : 5.63 %
There were 3 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
BN.PF.G FixedReset Disc Quote: 21.51 – 23.95
Spot Rate : 2.4400
Average : 1.4909

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 21.51
Evaluated at bid price : 21.51
Bid-YTW : 6.86 %

MFC.PR.I FixedReset Ins Non Quote: 23.13 – 25.00
Spot Rate : 1.8700
Average : 1.1103

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 22.83
Evaluated at bid price : 23.13
Bid-YTW : 6.35 %

IFC.PR.I Insurance Straight Quote: 23.47 – 25.99
Spot Rate : 2.5200
Average : 2.0060

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 23.21
Evaluated at bid price : 23.47
Bid-YTW : 5.86 %

GWO.PR.N FixedReset Ins Non Quote: 15.46 – 16.90
Spot Rate : 1.4400
Average : 0.9291

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 15.46
Evaluated at bid price : 15.46
Bid-YTW : 6.78 %

PVS.PR.K SplitShare Quote: 24.50 – 25.50
Spot Rate : 1.0000
Average : 0.6364

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.50
Bid-YTW : 5.06 %

BN.PF.E FixedReset Disc Quote: 19.94 – 20.90
Spot Rate : 0.9600
Average : 0.6305

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-12
Maturity Price : 19.94
Evaluated at bid price : 19.94
Bid-YTW : 6.95 %

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