US consumer inflation ticked up:
The cost of living continues to increase for Americans at a time when the job market appears to be on shakier footing, creating a complicated economic problem that could be tricky to solve.
Consumer prices rose 0.4% in August, driving the annual inflation rate to 2.9%, the highest since January, according to Bureau of Labor Statistics data released Thursday. The reading marked an acceleration from the 2.7% increase seen in July, with price hikes driving up the cost of Americans’ most basic needs.
Grocery and fuel prices shot higher in August after falling the month before. Food at home prices rose 0.6% — the highest monthly jump in nearly three years — and gas prices climbed by 1.9% after falling 2.2% the month before.
…
Paychecks also aren’t going as far as they used to: Real (inflation-adjusted) hourly earnings slowed to 0.7% in August, the lowest gain in more than a year, BLS data shows.
| 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 | 6.71 % | 7.15 % | 39,947 | 13.29 | 1 | 0.0000 % | 2,450.8 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.5040 % | 4,662.8 |
| Floater | 6.52 % | 6.90 % | 60,737 | 12.56 | 3 | 0.5040 % | 2,687.2 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2380 % | 3,650.7 |
| SplitShare | 4.80 % | 4.53 % | 59,116 | 3.41 | 6 | 0.2380 % | 4,359.7 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2380 % | 3,401.6 |
| Perpetual-Premium | 5.48 % | 1.90 % | 70,665 | 0.08 | 3 | 0.0396 % | 3,082.9 |
| Perpetual-Discount | 5.52 % | 5.66 % | 44,683 | 14.34 | 28 | -0.0031 % | 3,401.7 |
| FixedReset Disc | 5.89 % | 6.03 % | 120,910 | 13.56 | 32 | 0.2163 % | 3,039.7 |
| Insurance Straight | 5.42 % | 5.43 % | 56,852 | 14.75 | 18 | 0.2947 % | 3,338.7 |
| FloatingReset | 5.06 % | 3.85 % | 43,999 | 0.13 | 1 | 0.0791 % | 3,815.5 |
| FixedReset Prem | 5.65 % | 4.79 % | 121,008 | 2.42 | 21 | 0.0685 % | 2,634.8 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2163 % | 3,107.2 |
| FixedReset Ins Non | 5.24 % | 5.42 % | 66,742 | 14.49 | 15 | 0.4885 % | 3,057.9 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| CU.PR.E | Perpetual-Discount | -1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 22.22 Evaluated at bid price : 22.50 Bid-YTW : 5.48 % |
| CU.PR.D | Perpetual-Discount | -1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 22.22 Evaluated at bid price : 22.50 Bid-YTW : 5.48 % |
| BN.PF.G | FixedReset Disc | 1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 22.34 Evaluated at bid price : 23.10 Bid-YTW : 6.07 % |
| FTS.PR.M | FixedReset Disc | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 22.62 Evaluated at bid price : 23.55 Bid-YTW : 5.64 % |
| BN.PR.K | Floater | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 12.85 Evaluated at bid price : 12.85 Bid-YTW : 6.90 % |
| TD.PF.J | FixedReset Prem | 1.49 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-04-30 Maturity Price : 25.00 Evaluated at bid price : 25.94 Bid-YTW : 4.52 % |
| BN.PF.E | FixedReset Disc | 1.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 21.64 Evaluated at bid price : 21.97 Bid-YTW : 6.12 % |
| MFC.PR.J | FixedReset Ins Non | 2.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 23.52 Evaluated at bid price : 25.15 Bid-YTW : 5.41 % |
| IFC.PR.E | Insurance Straight | 2.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 23.95 Evaluated at bid price : 24.24 Bid-YTW : 5.46 % |
| CIU.PR.A | Perpetual-Discount | 2.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 21.28 Evaluated at bid price : 21.28 Bid-YTW : 5.45 % |
| ENB.PR.B | FixedReset Disc | 4.57 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 20.13 Evaluated at bid price : 20.13 Bid-YTW : 6.49 % |
| SLF.PR.G | FixedReset Ins Non | 6.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 18.08 Evaluated at bid price : 18.08 Bid-YTW : 5.82 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| POW.PR.A | Perpetual-Discount | 123,400 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 24.49 Evaluated at bid price : 24.72 Bid-YTW : 5.75 % |
| ENB.PR.B | FixedReset Disc | 102,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 20.13 Evaluated at bid price : 20.13 Bid-YTW : 6.49 % |
| FFH.PR.G | FixedReset Prem | 90,500 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-10-30 Maturity Price : 25.00 Evaluated at bid price : 25.14 Bid-YTW : 4.64 % |
| IFC.PR.I | Insurance Straight | 61,367 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 24.24 Evaluated at bid price : 24.57 Bid-YTW : 5.59 % |
| MFC.PR.N | FixedReset Ins Non | 51,350 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-09-11 Maturity Price : 22.57 Evaluated at bid price : 23.50 Bid-YTW : 5.40 % |
| TD.PF.E | FixedReset Prem | 51,300 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-10-31 Maturity Price : 25.00 Evaluated at bid price : 25.04 Bid-YTW : 4.79 % |
| 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 |
| BN.PF.J | FixedReset Prem | Quote: 25.20 – 26.20 Spot Rate : 1.0000 Average : 0.5813 YTW SCENARIO |
| BN.PF.I | FixedReset Prem | Quote: 25.35 – 26.35 Spot Rate : 1.0000 Average : 0.7997 YTW SCENARIO |
| BN.PF.A | FixedReset Disc | Quote: 25.48 – 26.48 Spot Rate : 1.0000 Average : 0.8093 YTW SCENARIO |
| IFC.PR.G | FixedReset Ins Non | Quote: 25.31 – 25.75 Spot Rate : 0.4400 Average : 0.2638 YTW SCENARIO |
| PWF.PR.L | Perpetual-Discount | Quote: 22.72 – 23.25 Spot Rate : 0.5300 Average : 0.3815 YTW SCENARIO |
| BN.PR.X | FixedReset Disc | Quote: 19.80 – 20.25 Spot Rate : 0.4500 Average : 0.3380 YTW SCENARIO |