The BoC has a lot of people convinced there will be a hike next week:
In Canada, there is now an 89 per cent probability of a rate hike next week, marking a radical shift from negligible chances of a rate hike just a month ago.
I’ll go along with that … certainly there has been no back-pedalling by the bank as the market has become progressively more sure that This Is It. But the fat lady hasn’t sung yet … if they stand pat, there will be carnage!
| 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 | 3.0627 % | 2,313.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 3.0627 % | 4,245.0 |
| Floater | 3.42 % | 3.45 % | 76,901 | 18.67 | 3 | 3.0627 % | 2,446.4 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0313 % | 3,070.7 |
| SplitShare | 4.69 % | 4.25 % | 61,274 | 1.45 | 5 | 0.0313 % | 3,667.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0313 % | 2,861.2 |
| Perpetual-Premium | 5.35 % | 3.15 % | 71,162 | 0.09 | 21 | -0.0005 % | 2,786.2 |
| Perpetual-Discount | 5.19 % | 5.17 % | 87,176 | 15.23 | 15 | -0.5615 % | 2,974.5 |
| FixedReset | 4.36 % | 4.30 % | 189,127 | 6.43 | 97 | -0.0957 % | 2,384.1 |
| Deemed-Retractible | 5.01 % | 5.22 % | 115,547 | 6.19 | 30 | -0.1039 % | 2,889.2 |
| FloatingReset | 2.65 % | 3.06 % | 50,882 | 4.32 | 10 | 0.0999 % | 2,592.3 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| HSE.PR.G | FixedReset | -2.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 22.96 Evaluated at bid price : 23.97 Bid-YTW : 5.09 % |
| BAM.PF.D | Perpetual-Discount | -2.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 22.61 Evaluated at bid price : 22.95 Bid-YTW : 5.36 % |
| BAM.PR.M | Perpetual-Discount | -1.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 21.84 Evaluated at bid price : 22.08 Bid-YTW : 5.40 % |
| BAM.PR.N | Perpetual-Discount | -1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 21.87 Evaluated at bid price : 22.11 Bid-YTW : 5.40 % |
| BAM.PF.C | Perpetual-Discount | -1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 22.31 Evaluated at bid price : 22.62 Bid-YTW : 5.38 % |
| NA.PR.W | FixedReset | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 21.30 Evaluated at bid price : 21.30 Bid-YTW : 4.36 % |
| BAM.PF.I | FixedReset | -1.15 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.75 Bid-YTW : 4.14 % |
| MFC.PR.L | FixedReset | -1.12 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.11 Bid-YTW : 6.36 % |
| TRP.PR.H | FloatingReset | 1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 14.55 Evaluated at bid price : 14.55 Bid-YTW : 3.42 % |
| BAM.PR.T | FixedReset | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 20.37 Evaluated at bid price : 20.37 Bid-YTW : 4.54 % |
| BAM.PR.B | Floater | 2.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 13.77 Evaluated at bid price : 13.77 Bid-YTW : 3.45 % |
| BAM.PR.C | Floater | 3.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 13.77 Evaluated at bid price : 13.77 Bid-YTW : 3.45 % |
| BAM.PR.K | Floater | 3.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 13.85 Evaluated at bid price : 13.85 Bid-YTW : 3.43 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.E | FixedReset | 729,530 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 22.87 Evaluated at bid price : 23.88 Bid-YTW : 4.34 % |
| CM.PR.R | FixedReset | 266,887 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-07-31 Maturity Price : 25.00 Evaluated at bid price : 25.11 Bid-YTW : 4.43 % |
| TD.PF.B | FixedReset | 167,773 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 21.39 Evaluated at bid price : 21.71 Bid-YTW : 4.26 % |
| TD.PF.H | FixedReset | 111,993 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-10-31 Maturity Price : 25.00 Evaluated at bid price : 26.04 Bid-YTW : 3.73 % |
| RY.PR.H | FixedReset | 111,280 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 21.59 Evaluated at bid price : 22.00 Bid-YTW : 4.25 % |
| BAM.PR.Z | FixedReset | 105,860 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 23.31 Evaluated at bid price : 24.08 Bid-YTW : 4.56 % |
| TRP.PR.E | FixedReset | 103,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2047-07-06 Maturity Price : 22.13 Evaluated at bid price : 22.42 Bid-YTW : 4.27 % |
| There were 17 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| TD.PR.T | FloatingReset | Quote: 24.40 – 25.33 Spot Rate : 0.9300 Average : 0.5203 YTW SCENARIO |
| TD.PF.F | Perpetual-Premium | Quote: 25.06 – 25.39 Spot Rate : 0.3300 Average : 0.2161 YTW SCENARIO |
| BAM.PF.I | FixedReset | Quote: 25.75 – 26.06 Spot Rate : 0.3100 Average : 0.1975 YTW SCENARIO |
| BAM.PF.F | FixedReset | Quote: 23.95 – 24.25 Spot Rate : 0.3000 Average : 0.1879 YTW SCENARIO |
| HSE.PR.G | FixedReset | Quote: 23.97 – 24.47 Spot Rate : 0.5000 Average : 0.3911 YTW SCENARIO |
| EIT.PR.A | SplitShare | Quote: 25.90 – 26.20 Spot Rate : 0.3000 Average : 0.1916 YTW SCENARIO |