Market Action

December 2, 2025

Brompton has announced a treasury offering of SBC.PR.A preferreds only; I have updated the post SBC.PR.A: Capital Unit Split.

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 0.7732 % 2,411.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.7732 % 4,571.6
Floater 5.98 % 6.25 % 59,872 13.46 3 0.7732 % 2,634.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.2453 % 3,654.9
SplitShare 4.78 % 4.23 % 70,117 1.20 5 0.2453 % 4,364.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2453 % 3,405.5
Perpetual-Premium 5.66 % 5.54 % 73,723 6.85 7 -0.0564 % 3,100.7
Perpetual-Discount 5.50 % 5.61 % 50,441 14.47 28 0.4537 % 3,405.1
FixedReset Disc 5.84 % 5.88 % 103,393 13.75 31 0.8508 % 3,123.3
Insurance Straight 5.47 % 5.52 % 56,958 14.52 21 -0.6760 % 3,322.5
FloatingReset 0.00 % 0.00 % 0 0.00 0 0.8508 % 3,715.5
FixedReset Prem 5.92 % 4.90 % 111,997 2.27 20 0.1524 % 2,650.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.8508 % 3,192.6
FixedReset Ins Non 5.28 % 5.32 % 75,672 14.64 13 2.1337 % 3,108.1
Performance Highlights
Issue Index Change Notes
GWO.PR.T Insurance Straight -14.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 6.52 %
GWO.PR.Y Insurance Straight -3.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 5.66 %
FTS.PR.G FixedReset Disc -2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.11
Evaluated at bid price : 24.20
Bid-YTW : 5.27 %
POW.PR.B Perpetual-Discount -1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.69
Evaluated at bid price : 24.00
Bid-YTW : 5.65 %
ENB.PR.J FixedReset Disc -1.66 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.72
Evaluated at bid price : 21.98
Bid-YTW : 6.29 %
PWF.PR.H Perpetual-Premium -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 24.68
Evaluated at bid price : 25.00
Bid-YTW : 5.81 %
CU.PR.F Perpetual-Discount -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 5.50 %
GWO.PR.R Insurance Straight 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.83
Evaluated at bid price : 22.07
Bid-YTW : 5.52 %
ENB.PR.B FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 6.18 %
FTS.PR.K FixedReset Disc 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 22.42
Evaluated at bid price : 23.02
Bid-YTW : 5.40 %
BN.PR.T FixedReset Disc 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 20.47
Evaluated at bid price : 20.47
Bid-YTW : 6.19 %
BN.PR.N Perpetual-Discount 1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 5.76 %
MFC.PR.M FixedReset Ins Non 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.14
Evaluated at bid price : 24.72
Bid-YTW : 5.23 %
ENB.PR.P FixedReset Disc 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.82
Evaluated at bid price : 22.12
Bid-YTW : 6.16 %
PWF.PR.L Perpetual-Discount 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 22.82
Evaluated at bid price : 23.10
Bid-YTW : 5.57 %
CU.PR.G Perpetual-Discount 1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 5.37 %
PWF.PR.A Floater 1.56 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 13.70
Evaluated at bid price : 13.70
Bid-YTW : 5.74 %
FTS.PR.H FixedReset Disc 1.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 5.59 %
BN.PF.E FixedReset Disc 1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 22.33
Evaluated at bid price : 23.02
Bid-YTW : 5.83 %
PWF.PR.E Perpetual-Discount 2.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 24.23
Evaluated at bid price : 24.52
Bid-YTW : 5.66 %
CU.PR.C FixedReset Disc 2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.48
Evaluated at bid price : 23.90
Bid-YTW : 5.44 %
ENB.PR.D FixedReset Disc 2.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.24 %
IFC.PR.C FixedReset Ins Non 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.67
Evaluated at bid price : 24.25
Bid-YTW : 5.55 %
MFC.PR.N FixedReset Ins Non 3.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.06
Evaluated at bid price : 24.55
Bid-YTW : 5.13 %
PWF.PR.K Perpetual-Discount 3.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 22.16
Evaluated at bid price : 22.44
Bid-YTW : 5.57 %
POW.PR.A Perpetual-Discount 4.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 24.64
Evaluated at bid price : 24.90
Bid-YTW : 5.70 %
ENB.PR.F FixedReset Disc 5.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.48
Evaluated at bid price : 21.84
Bid-YTW : 6.14 %
MFC.PR.L FixedReset Ins Non 6.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.12
Evaluated at bid price : 24.52
Bid-YTW : 5.16 %
BN.PF.G FixedReset Disc 10.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.01
Evaluated at bid price : 24.50
Bid-YTW : 5.79 %
GWO.PR.N FixedReset Ins Non 18.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 5.62 %
Volume Highlights
Issue Index Shares
Traded
Notes
BIP.PR.B FixedReset Disc 200,884 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-01-30
Maturity Price : 25.00
Evaluated at bid price : 24.94
Bid-YTW : 5.27 %
GWO.PR.N FixedReset Ins Non 128,397 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 18.35
Evaluated at bid price : 18.35
Bid-YTW : 5.62 %
FTS.PR.J Perpetual-Discount 66,006 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 22.12
Evaluated at bid price : 22.40
Bid-YTW : 5.32 %
FTS.PR.H FixedReset Disc 64,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 19.03
Evaluated at bid price : 19.03
Bid-YTW : 5.59 %
ENB.PF.G FixedReset Disc 62,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 22.02
Evaluated at bid price : 22.55
Bid-YTW : 6.14 %
BN.PF.M FixedReset Prem 60,300 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2031-01-01
Maturity Price : 25.00
Evaluated at bid price : 25.60
Bid-YTW : 4.91 %
There were 19 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
GWO.PR.T Insurance Straight Quote: 20.17 – 24.00
Spot Rate : 3.8300
Average : 2.1645

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 20.17
Evaluated at bid price : 20.17
Bid-YTW : 6.52 %

ENB.PF.C FixedReset Disc Quote: 22.21 – 24.50
Spot Rate : 2.2900
Average : 1.3116

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.82
Evaluated at bid price : 22.21
Bid-YTW : 6.15 %

CU.PR.J Perpetual-Discount Quote: 21.60 – 23.15
Spot Rate : 1.5500
Average : 1.1026

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.60
Evaluated at bid price : 21.60
Bid-YTW : 5.54 %

FTS.PR.G FixedReset Disc Quote: 24.20 – 25.09
Spot Rate : 0.8900
Average : 0.5244

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.11
Evaluated at bid price : 24.20
Bid-YTW : 5.27 %

NA.PR.S FixedReset Prem Quote: 25.75 – 26.75
Spot Rate : 1.0000
Average : 0.7077

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 23.55
Evaluated at bid price : 25.75
Bid-YTW : 5.17 %

ENB.PR.J FixedReset Disc Quote: 21.98 – 22.78
Spot Rate : 0.8000
Average : 0.5310

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-12-02
Maturity Price : 21.72
Evaluated at bid price : 21.98
Bid-YTW : 6.29 %

Leave a Reply