Market Action

July 29, 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 0.0392 % 2,350.5
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0392 % 4,575.6
Floater 6.79 % 6.89 % 46,458 12.67 2 0.0392 % 2,636.9
OpRet 0.00 % 0.00 % 0 0.00 0 -0.2186 % 3,676.7
SplitShare 4.76 % 4.36 % 53,456 2.42 7 -0.2186 % 4,390.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2186 % 3,425.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.1675 % 3,028.1
Perpetual-Discount 5.68 % 5.79 % 46,517 14.20 32 0.1675 % 3,301.9
FixedReset Disc 5.57 % 6.30 % 120,055 13.18 40 0.1569 % 3,016.9
Insurance Straight 5.56 % 5.65 % 58,424 14.41 19 0.4603 % 3,255.3
FloatingReset 5.50 % 5.37 % 37,566 14.83 2 1.0010 % 3,712.9
FixedReset Prem 5.72 % 4.99 % 107,698 2.95 16 -0.0628 % 2,633.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1569 % 3,083.9
FixedReset Ins Non 5.23 % 5.66 % 70,846 14.05 14 1.0627 % 3,057.6
Performance Highlights
Issue Index Change Notes
PWF.PR.F Perpetual-Discount -6.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.38
Evaluated at bid price : 21.65
Bid-YTW : 6.09 %
GWO.PR.P Insurance Straight -2.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 23.16
Evaluated at bid price : 23.42
Bid-YTW : 5.82 %
TD.PF.I FixedReset Prem -1.06 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 26.25
Bid-YTW : 3.97 %
FTS.PR.K FixedReset Disc 1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 22.40
Evaluated at bid price : 23.04
Bid-YTW : 5.73 %
GWO.PR.T Insurance Straight 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 22.36
Evaluated at bid price : 22.74
Bid-YTW : 5.71 %
IFC.PR.F Insurance Straight 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 23.51
Evaluated at bid price : 23.95
Bid-YTW : 5.58 %
POW.PR.D Perpetual-Discount 1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 22.01
Evaluated at bid price : 22.25
Bid-YTW : 5.66 %
CU.PR.D Perpetual-Discount 1.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.59
Evaluated at bid price : 21.85
Bid-YTW : 5.69 %
PWF.PR.S Perpetual-Discount 1.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.12
Evaluated at bid price : 21.12
Bid-YTW : 5.72 %
MFC.PR.J FixedReset Ins Non 1.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 23.60
Evaluated at bid price : 25.47
Bid-YTW : 5.66 %
GWO.PR.H Insurance Straight 2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.38
Evaluated at bid price : 21.65
Bid-YTW : 5.65 %
SLF.PR.J FloatingReset 2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 17.76
Evaluated at bid price : 17.76
Bid-YTW : 5.83 %
PWF.PR.K Perpetual-Discount 2.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.40
Evaluated at bid price : 21.67
Bid-YTW : 5.73 %
SLF.PR.G FixedReset Ins Non 3.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 5.98 %
MFC.PR.B Insurance Straight 4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.26
Evaluated at bid price : 21.53
Bid-YTW : 5.46 %
IFC.PR.A FixedReset Ins Non 8.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.60
Evaluated at bid price : 22.01
Bid-YTW : 5.51 %
Volume Highlights
Issue Index Shares
Traded
Notes
TD.PF.D FixedReset Prem 764,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 23.93
Evaluated at bid price : 24.99
Bid-YTW : 5.87 %
CM.PR.Q FixedReset Disc 658,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 23.93
Evaluated at bid price : 24.99
Bid-YTW : 5.87 %
ENB.PF.K FixedReset Disc 113,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 23.13
Evaluated at bid price : 24.20
Bid-YTW : 6.54 %
ENB.PF.G FixedReset Disc 105,421 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.56
Evaluated at bid price : 21.56
Bid-YTW : 6.77 %
BEP.PR.G FixedReset Ins Non 99,800 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.08
Bid-YTW : 4.79 %
SLF.PR.D Insurance Straight 80,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 20.99
Evaluated at bid price : 20.99
Bid-YTW : 5.36 %
There were 9 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
MFC.PR.M FixedReset Ins Non Quote: 21.15 – 24.98
Spot Rate : 3.8300
Average : 2.9959

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.58 %

BN.PF.D Perpetual-Discount Quote: 20.80 – 22.50
Spot Rate : 1.7000
Average : 0.9987

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.97 %

PWF.PR.F Perpetual-Discount Quote: 21.65 – 23.50
Spot Rate : 1.8500
Average : 1.2722

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.38
Evaluated at bid price : 21.65
Bid-YTW : 6.09 %

GWO.PR.I Insurance Straight Quote: 20.28 – 21.38
Spot Rate : 1.1000
Average : 0.6701

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 20.28
Evaluated at bid price : 20.28
Bid-YTW : 5.62 %

ENB.PR.D FixedReset Disc Quote: 20.57 – 21.40
Spot Rate : 0.8300
Average : 0.5495

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.76 %

CU.PR.E Perpetual-Discount Quote: 21.90 – 23.54
Spot Rate : 1.6400
Average : 1.3595

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-07-29
Maturity Price : 21.65
Evaluated at bid price : 21.90
Bid-YTW : 5.68 %

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