Market Action

October November 6, 2025

Where’s Officer Bubbles when you need him?

Sean C. Dunn, the man who pitched a sandwich at the chest of a federal agent in an unintentionally viral act of opposition to President Trump’s law enforcement policies in Washington, was acquitted on Thursday after a jury found him not guilty of misdemeanor assault.

The verdict, which arrived after roughly seven hours of deliberation, capped a nearly three-month effort to penalize Mr. Dunn for the August outburst and the resulting chase to arrest him. The government had previously failed to persuade a grand jury to charge him with a felony.

It marked a significant setback for Jeanine Pirro, the U.S. attorney in Washington, who made Mr. Dunn’s case a centerpiece of Mr. Trump’s aggressive policing and prosecution strategy in the city. Washington residents have now twice rejected the government’s case against Mr. Dunn, after they refused to indict others caught up in the president’s crackdown.

The jury determined that the launching of the 12-inch deli sandwich from what the government described as “point-blank range” was not an attempt to cause bodily injury, preventing a conviction.

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 0.0765 % 2,419.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.0765 % 4,586.8
Floater 5.96 % 6.24 % 57,214 13.53 3 0.0765 % 2,643.4
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0548 % 3,686.6
SplitShare 4.74 % 4.45 % 66,178 3.26 5 -0.0548 % 4,402.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0548 % 3,435.1
Perpetual-Premium 5.64 % -16.89 % 76,255 0.09 6 0.1632 % 3,122.7
Perpetual-Discount 5.40 % 5.46 % 45,954 14.66 25 0.1613 % 3,462.9
FixedReset Disc 5.75 % 5.90 % 109,302 13.79 30 -0.1446 % 3,112.1
Insurance Straight 5.34 % 5.36 % 58,235 14.69 21 1.5131 % 3,404.3
FloatingReset 0.00 % 0.00 % 0 0.00 0 -0.1446 % 3,702.2
FixedReset Prem 5.86 % 4.69 % 107,670 2.34 21 -0.2699 % 2,645.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1446 % 3,181.2
FixedReset Ins Non 5.17 % 5.29 % 60,081 14.55 15 -0.0115 % 3,101.7
Performance Highlights
Issue Index Change Notes
BN.PR.X FixedReset Disc -6.92 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 6.14 %
TD.PF.J FixedReset Prem -2.30 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2028-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.45
Bid-YTW : 5.05 %
BMO.PR.E FixedReset Prem -1.58 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2028-11-25
Maturity Price : 25.00
Evaluated at bid price : 26.72
Bid-YTW : 4.30 %
MFC.PR.N FixedReset Ins Non -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 22.80
Evaluated at bid price : 23.96
Bid-YTW : 5.29 %
ENB.PF.E FixedReset Disc -1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 21.66
Evaluated at bid price : 22.00
Bid-YTW : 6.23 %
ENB.PR.D FixedReset Disc -1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.33 %
IFC.PR.F Insurance Straight -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 23.98
Evaluated at bid price : 24.29
Bid-YTW : 5.51 %
IFC.PR.E Insurance Straight 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 23.77
Evaluated at bid price : 24.03
Bid-YTW : 5.47 %
CIU.PR.A Perpetual-Discount 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 21.46
Evaluated at bid price : 21.46
Bid-YTW : 5.37 %
PWF.PR.O Perpetual-Premium 1.23 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-06
Maturity Price : 25.00
Evaluated at bid price : 25.51
Bid-YTW : -16.89 %
BN.PF.C Perpetual-Discount 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 21.44
Evaluated at bid price : 21.70
Bid-YTW : 5.65 %
MFC.PR.L FixedReset Ins Non 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 23.21
Evaluated at bid price : 24.76
Bid-YTW : 5.11 %
POW.PR.A Perpetual-Discount 1.76 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-06
Maturity Price : 25.00
Evaluated at bid price : 25.45
Bid-YTW : -11.70 %
BN.PF.D Perpetual-Discount 2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 5.63 %
PWF.PF.A Perpetual-Discount 2.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 5.41 %
BN.PF.B FixedReset Disc 2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 22.92
Evaluated at bid price : 24.00
Bid-YTW : 5.78 %
GWO.PR.P Insurance Straight 2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 24.54
Evaluated at bid price : 24.79
Bid-YTW : 5.51 %
ENB.PR.F FixedReset Disc 4.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 21.54
Evaluated at bid price : 21.92
Bid-YTW : 6.13 %
MFC.PR.C Insurance Straight 12.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 22.01
Evaluated at bid price : 22.25
Bid-YTW : 5.12 %
MFC.PR.B Insurance Straight 19.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 22.31
Evaluated at bid price : 22.58
Bid-YTW : 5.21 %
Volume Highlights
Issue Index Shares
Traded
Notes
GWO.PR.N FixedReset Ins Non 81,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 17.80
Evaluated at bid price : 17.80
Bid-YTW : 5.67 %
FFH.PR.I FixedReset Disc 61,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 24.04
Evaluated at bid price : 24.95
Bid-YTW : 5.57 %
SLF.PR.E Insurance Straight 33,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 22.10
Evaluated at bid price : 22.32
Bid-YTW : 5.09 %
POW.PR.D Perpetual-Discount 31,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 22.97
Evaluated at bid price : 23.24
Bid-YTW : 5.42 %
BN.PR.M Perpetual-Discount 23,368 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.74 %
GWO.PR.S Insurance Straight 18,210 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 24.09
Evaluated at bid price : 24.35
Bid-YTW : 5.45 %
There were 5 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.PR.X FixedReset Disc Quote: 18.71 – 20.20
Spot Rate : 1.4900
Average : 0.8233

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 18.71
Evaluated at bid price : 18.71
Bid-YTW : 6.14 %

BN.PF.C Perpetual-Discount Quote: 21.70 – 22.75
Spot Rate : 1.0500
Average : 0.6641

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 21.44
Evaluated at bid price : 21.70
Bid-YTW : 5.65 %

CU.PR.C FixedReset Disc Quote: 24.00 – 24.90
Spot Rate : 0.9000
Average : 0.5381

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 23.60
Evaluated at bid price : 24.00
Bid-YTW : 5.33 %

GWO.PR.L Insurance Straight Quote: 25.50 – 26.10
Spot Rate : 0.6000
Average : 0.4604

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-12-06
Maturity Price : 25.00
Evaluated at bid price : 25.50
Bid-YTW : -11.23 %

ENB.PR.D FixedReset Disc Quote: 20.75 – 21.25
Spot Rate : 0.5000
Average : 0.3744

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.33 %

MFC.PR.N FixedReset Ins Non Quote: 23.96 – 24.43
Spot Rate : 0.4700
Average : 0.3532

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-11-06
Maturity Price : 22.80
Evaluated at bid price : 23.96
Bid-YTW : 5.29 %

Leave a Reply