The TXPR Price Index hit a new 52-week high today of 683.66, edging the prior mark of 683.50 set yesterday.
It’s nice to see some meaningful retaliation:
The federal government is firing back at Stellantis and General Motors by limiting the number of tariff-free vehicles the automakers can import from the U.S. to sell in Canada, CBC News has learned.
The two multinational manufacturers will no longer be exempt from paying Canada’s retaliatory tariffs on as many U.S.-assembled vehicles as before, sources said.
The move is expected to put pressure on the companies to reinvest in Canadian production and workers to get this benefit back and avoid a big tariff bill.
…
Effective immediately, the government is reducing the amount of American-assembled vehicles GM can import tariff-free by 24 per cent and cutting Stellantis’s amount by 50 per cent, sources said.
Yup. Let automakers import from the States at preferential tariff rates only as much as they export to the States. There are lots of other automakers from free-trade countries who will be happy to pick up any slack there might be.
| 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 | 6.55 % | 7.01 % | 19,861 | 13.48 | 1 | 0.0000 % | 2,450.8 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3306 % | 4,582.2 |
| Floater | 6.30 % | 6.58 % | 55,203 | 13.08 | 3 | -0.3306 % | 2,640.7 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0393 % | 3,673.9 |
| SplitShare | 4.75 % | 4.45 % | 68,087 | 3.29 | 5 | 0.0393 % | 4,387.5 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0393 % | 3,423.3 |
| Perpetual-Premium | 5.47 % | -3.05 % | 72,640 | 0.09 | 7 | 0.2827 % | 3,105.3 |
| Perpetual-Discount | 5.54 % | 5.58 % | 44,597 | 14.54 | 26 | 1.3155 % | 3,405.7 |
| FixedReset Disc | 5.97 % | 5.89 % | 103,593 | 13.80 | 30 | 0.0150 % | 3,060.3 |
| Insurance Straight | 5.45 % | 5.49 % | 55,865 | 14.62 | 22 | -0.4611 % | 3,334.7 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0150 % | 3,640.6 |
| FixedReset Prem | 5.63 % | 4.79 % | 121,455 | 2.76 | 22 | 0.0690 % | 2,632.3 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0150 % | 3,128.3 |
| FixedReset Ins Non | 5.24 % | 5.33 % | 59,458 | 14.62 | 15 | 0.0349 % | 3,060.8 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| ENB.PR.H | FixedReset Disc | -4.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 5.95 % |
| GWO.PR.R | Insurance Straight | -3.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.36 Evaluated at bid price : 21.36 Bid-YTW : 5.68 % |
| CU.PR.H | Perpetual-Discount | -3.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 22.63 Evaluated at bid price : 22.88 Bid-YTW : 5.82 % |
| GWO.PR.T | Insurance Straight | -3.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 23.01 Evaluated at bid price : 23.28 Bid-YTW : 5.58 % |
| BN.PR.M | Perpetual-Discount | -2.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 20.55 Evaluated at bid price : 20.55 Bid-YTW : 5.85 % |
| GWO.PR.G | Insurance Straight | -1.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 23.20 Evaluated at bid price : 23.50 Bid-YTW : 5.58 % |
| CCS.PR.C | Insurance Straight | -1.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.86 Evaluated at bid price : 22.10 Bid-YTW : 5.71 % |
| GWO.PR.Q | Insurance Straight | -1.69 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 5.57 % |
| ENB.PF.C | FixedReset Disc | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.38 Evaluated at bid price : 21.38 Bid-YTW : 6.34 % |
| BN.PF.D | Perpetual-Discount | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.51 Evaluated at bid price : 21.51 Bid-YTW : 5.76 % |
| BN.PF.C | Perpetual-Discount | 1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.11 Evaluated at bid price : 21.11 Bid-YTW : 5.81 % |
| POW.PR.G | Perpetual-Discount | 1.21 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-11-22 Maturity Price : 25.00 Evaluated at bid price : 25.06 Bid-YTW : 4.20 % |
| ENB.PR.A | Perpetual-Discount | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 24.57 Evaluated at bid price : 24.82 Bid-YTW : 5.62 % |
| CU.PR.C | FixedReset Disc | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 23.51 Evaluated at bid price : 23.91 Bid-YTW : 5.33 % |
| GWO.PR.I | Insurance Straight | 1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 20.99 Evaluated at bid price : 20.99 Bid-YTW : 5.42 % |
| PWF.PR.S | Perpetual-Discount | 6.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.65 Evaluated at bid price : 21.90 Bid-YTW : 5.49 % |
| PWF.PF.A | Perpetual-Discount | 39.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 5.52 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.I | FixedReset Ins Non | 30,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 23.73 Evaluated at bid price : 25.35 Bid-YTW : 5.45 % |
| MFC.PR.J | FixedReset Ins Non | 25,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 23.42 Evaluated at bid price : 24.80 Bid-YTW : 5.41 % |
| TD.PF.E | FixedReset Prem | 20,275 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-11-30 Maturity Price : 25.00 Evaluated at bid price : 24.98 Bid-YTW : 5.16 % |
| PVS.PR.K | SplitShare | 19,100 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 25.16 Bid-YTW : 4.45 % |
| BN.PR.N | Perpetual-Discount | 14,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2055-10-23 Maturity Price : 21.07 Evaluated at bid price : 21.07 Bid-YTW : 5.70 % |
| FFH.PR.I | FixedReset Disc | 12,300 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.00 Bid-YTW : 4.43 % |
| There were 1 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 |
| CU.PR.H | Perpetual-Discount | Quote: 22.88 – 24.50 Spot Rate : 1.6200 Average : 1.0980 YTW SCENARIO |
| ENB.PR.H | FixedReset Disc | Quote: 21.40 – 22.50 Spot Rate : 1.1000 Average : 0.6478 YTW SCENARIO |
| ENB.PR.Y | FixedReset Disc | Quote: 20.55 – 21.90 Spot Rate : 1.3500 Average : 0.9463 YTW SCENARIO |
| NA.PR.K | FixedReset Prem | Quote: 28.33 – 29.33 Spot Rate : 1.0000 Average : 0.6250 YTW SCENARIO |
| SLF.PR.D | Insurance Straight | Quote: 21.68 – 22.65 Spot Rate : 0.9700 Average : 0.6326 YTW SCENARIO |
| CU.PR.J | Perpetual-Discount | Quote: 21.85 – 22.62 Spot Rate : 0.7700 Average : 0.4769 YTW SCENARIO |