Another new high in the TXPR price index today, with today’s high of 667.47 eclipsing yesterday’s mark of 667.21.
There is startling news from the OSC:
“While it’s clear many bank representatives are prioritizing quality advice, it is also clear that sales pressures and incentivization may be driving concerning behaviours,” OSC chief executive Grant Vingoe said in a statement.
Quick, give ‘im the Nobel Prize! The report is titled Sales Culture Concerns at Five of Canada’s Bank-Affiliated Dealers
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| 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 | 1.0342 % | 2,341.3 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.0342 % | 4,557.7 |
| Floater | 6.82 % | 6.89 % | 54,011 | 12.70 | 2 | 1.0342 % | 2,626.6 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1632 % | 3,663.7 |
| SplitShare | 4.78 % | 4.39 % | 59,853 | 2.47 | 7 | -0.1632 % | 4,375.2 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1632 % | 3,413.7 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1076 % | 2,997.4 |
| Perpetual-Discount | 5.74 % | 5.88 % | 44,297 | 14.04 | 32 | 0.1076 % | 3,268.5 |
| FixedReset Disc | 5.66 % | 6.23 % | 114,033 | 13.17 | 40 | 0.2567 % | 2,968.5 |
| Insurance Straight | 5.70 % | 5.78 % | 47,864 | 14.25 | 19 | 0.2895 % | 3,179.2 |
| FloatingReset | 5.54 % | 5.37 % | 42,072 | 14.86 | 2 | 0.0717 % | 3,670.0 |
| FixedReset Prem | 5.74 % | 5.12 % | 125,272 | 3.00 | 16 | -0.0703 % | 2,624.6 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2567 % | 3,034.4 |
| FixedReset Ins Non | 5.21 % | 5.60 % | 63,782 | 14.25 | 14 | 0.8454 % | 3,070.4 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| MFC.PR.L | FixedReset Ins Non | -2.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 22.67 Evaluated at bid price : 23.60 Bid-YTW : 5.60 % |
| ENB.PR.H | FixedReset Disc | -2.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 6.35 % |
| MFC.PR.J | FixedReset Ins Non | -1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 23.42 Evaluated at bid price : 24.95 Bid-YTW : 5.67 % |
| PWF.PR.R | Perpetual-Discount | -1.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 22.98 Evaluated at bid price : 23.25 Bid-YTW : 6.03 % |
| SLF.PR.D | Insurance Straight | -1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.61 % |
| NA.PR.K | FixedReset Prem | -1.06 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-05-01 Maturity Price : 25.00 Evaluated at bid price : 27.90 Bid-YTW : 4.75 % |
| CU.PR.C | FixedReset Disc | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 23.21 Evaluated at bid price : 23.57 Bid-YTW : 5.72 % |
| ENB.PR.P | FixedReset Disc | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 6.63 % |
| PWF.PR.P | FixedReset Disc | 1.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 6.23 % |
| GWO.PR.R | Insurance Straight | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.81 % |
| BN.PR.B | Floater | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 12.70 Evaluated at bid price : 12.70 Bid-YTW : 6.89 % |
| FFH.PR.G | FixedReset Disc | 1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 23.42 Evaluated at bid price : 24.40 Bid-YTW : 5.61 % |
| FTS.PR.K | FixedReset Disc | 1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 22.12 Evaluated at bid price : 22.60 Bid-YTW : 5.71 % |
| CU.PR.J | Perpetual-Discount | 3.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 5.82 % |
| SLF.PR.E | Insurance Straight | 3.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.44 % |
| MFC.PR.M | FixedReset Ins Non | 16.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 23.04 Evaluated at bid price : 24.55 Bid-YTW : 5.45 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BMO.PR.Y | FixedReset Disc | 348,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-08-25 Maturity Price : 25.00 Evaluated at bid price : 25.09 Bid-YTW : 3.14 % |
| TD.PF.J | FixedReset Prem | 150,600 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-04-30 Maturity Price : 25.00 Evaluated at bid price : 25.70 Bid-YTW : 5.12 % |
| BN.PF.G | FixedReset Disc | 77,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 21.81 Evaluated at bid price : 22.24 Bid-YTW : 6.51 % |
| FTS.PR.M | FixedReset Disc | 39,516 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 22.48 Evaluated at bid price : 23.30 Bid-YTW : 5.89 % |
| ENB.PF.G | FixedReset Disc | 28,962 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 6.86 % |
| ENB.PF.K | FixedReset Disc | 28,400 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-07-09 Maturity Price : 23.10 Evaluated at bid price : 24.15 Bid-YTW : 6.41 % |
| 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 |
| ENB.PR.B | FixedReset Disc | Quote: 19.45 – 24.00 Spot Rate : 4.5500 Average : 3.6189 YTW SCENARIO |
| BN.PF.D | Perpetual-Discount | Quote: 20.30 – 22.00 Spot Rate : 1.7000 Average : 0.9584 YTW SCENARIO |
| BN.PR.Z | FixedReset Disc | Quote: 23.25 – 25.00 Spot Rate : 1.7500 Average : 1.0222 YTW SCENARIO |
| MFC.PR.J | FixedReset Ins Non | Quote: 24.95 – 26.50 Spot Rate : 1.5500 Average : 0.9253 YTW SCENARIO |
| MFC.PR.K | FixedReset Ins Non | Quote: 24.85 – 25.85 Spot Rate : 1.0000 Average : 0.5981 YTW SCENARIO |
| IFC.PR.C | FixedReset Ins Non | Quote: 24.20 – 25.00 Spot Rate : 0.8000 Average : 0.4893 YTW SCENARIO |