Market Action

June 17, 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 -0.1629 % 2,259.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1629 % 4,398.0
Floater 7.07 % 7.11 % 74,138 12.47 2 -0.1629 % 2,534.6
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1784 % 3,642.4
SplitShare 4.80 % 4.47 % 70,763 2.53 8 -0.1784 % 4,349.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1784 % 3,393.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.2663 % 2,950.0
Perpetual-Discount 5.83 % 5.97 % 43,232 13.87 33 -0.2663 % 3,216.8
FixedReset Disc 5.62 % 6.17 % 116,409 12.94 46 0.0394 % 2,891.9
Insurance Straight 5.79 % 5.84 % 52,028 14.18 20 0.0070 % 3,127.8
FloatingReset 5.65 % 5.72 % 41,675 14.34 3 -0.1214 % 3,650.1
FixedReset Prem 6.08 % 5.26 % 115,495 3.05 12 -0.0484 % 2,607.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.0394 % 2,956.2
FixedReset Ins Non 5.16 % 5.85 % 68,566 14.16 14 0.4569 % 2,987.4
Performance Highlights
Issue Index Change Notes
FTS.PR.J Perpetual-Discount -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.77 %
PWF.PR.E Perpetual-Discount -1.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 22.84
Evaluated at bid price : 23.12
Bid-YTW : 6.03 %
MFC.PR.B Insurance Straight -1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 5.78 %
CU.PR.G Perpetual-Discount -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 5.80 %
CU.PR.F Perpetual-Discount -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 19.71
Evaluated at bid price : 19.71
Bid-YTW : 5.77 %
GWO.PR.N FixedReset Ins Non 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 16.68
Evaluated at bid price : 16.68
Bid-YTW : 6.30 %
BN.PR.T FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 18.52
Evaluated at bid price : 18.52
Bid-YTW : 6.92 %
GWO.PR.M Insurance Straight 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 24.00
Evaluated at bid price : 24.25
Bid-YTW : 6.00 %
IFC.PR.I Insurance Straight 1.52 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 22.90
Evaluated at bid price : 23.35
Bid-YTW : 5.78 %
PWF.PR.L Perpetual-Discount 1.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 21.33
Evaluated at bid price : 21.60
Bid-YTW : 5.99 %
MFC.PR.J FixedReset Ins Non 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 23.45
Evaluated at bid price : 25.07
Bid-YTW : 5.62 %
MFC.PR.L FixedReset Ins Non 2.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 22.59
Evaluated at bid price : 23.45
Bid-YTW : 5.63 %
Volume Highlights
Issue Index Shares
Traded
Notes
CM.PR.Q FixedReset Disc 220,400 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.04
Bid-YTW : 5.24 %
CU.PR.E Perpetual-Discount 75,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 21.02
Evaluated at bid price : 21.02
Bid-YTW : 5.89 %
TD.PF.D FixedReset Disc 50,700 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-07-31
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 5.02 %
MFC.PR.Q FixedReset Ins Non 41,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 23.27
Evaluated at bid price : 24.71
Bid-YTW : 5.63 %
BIP.PR.A FixedReset Disc 31,600 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-07-30
Maturity Price : 25.00
Evaluated at bid price : 24.97
Bid-YTW : 5.64 %
PWF.PR.H Perpetual-Discount 31,220 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 23.95
Evaluated at bid price : 24.20
Bid-YTW : 6.03 %
There were 14 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: 16.75 – 17.90
Spot Rate : 1.1500
Average : 0.8612

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 16.75
Evaluated at bid price : 16.75
Bid-YTW : 6.73 %

IFC.PR.G FixedReset Ins Non Quote: 24.40 – 25.00
Spot Rate : 0.6000
Average : 0.3756

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 23.15
Evaluated at bid price : 24.40
Bid-YTW : 5.71 %

CU.PR.H Perpetual-Discount Quote: 23.02 – 23.83
Spot Rate : 0.8100
Average : 0.5967

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 22.73
Evaluated at bid price : 23.02
Bid-YTW : 5.74 %

SLF.PR.G FixedReset Ins Non Quote: 17.60 – 18.30
Spot Rate : 0.7000
Average : 0.5114

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.25 %

MFC.PR.F FixedReset Ins Non Quote: 17.45 – 18.50
Spot Rate : 1.0500
Average : 0.8788

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-06-17
Maturity Price : 17.45
Evaluated at bid price : 17.45
Bid-YTW : 6.11 %

TD.PF.I FixedReset Prem Quote: 26.05 – 26.47
Spot Rate : 0.4200
Average : 0.2578

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 26.05
Bid-YTW : 4.81 %

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