Canadian headline inflation fell:
Canada’s annual inflation rate fell to 1.8 per cent in February, after prices in the same period a year ago had risen sharply when the government’s sales-tax relief ended, Statistics Canada said on Monday. Excluding the effect of indirect taxes, the Consumer Price Index rose 1.9 per cent year-over-year in February, it said.
The inflation data for March will be the final month affected by the base-year effect of the sales tax break. But rising crude oil prices as a result of the Iran war are likely to change inflation expectations.
…
Grocery prices rose 4.1 per cent in February after a 4.8-per-cent rise observed in January, and the statistics agency said they have risen by 30 per cent in the last five years. Gasoline prices decelerated by 14.2 per cent in February due to the continued impact of the removal of a carbon tax on the fuel, which reduced the year-over-year price. This impact will stay until April, Statscan said.Shelter costs – the largest component of the CPI basket with a weight of roughly 29 per cent – rose at a slower pace of 1.5 per cent in February as mortgage costs continued to ease. Rent costs rose 3.9 per cent on an annual basis in February.
…
The CPI-median, the centermost component of the CPI basket, was 2.3 per cent, while CPI-trim, which excludes the most extreme price changes, was also at 2.3 per cent.
| 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 | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0744 % | 2,488.7 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0744 % | 4,719.0 |
| Floater | 5.79 % | 5.95 % | 53,521 | 14.04 | 3 | 0.0744 % | 2,719.6 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0157 % | 3,669.3 |
| SplitShare | 4.76 % | 3.88 % | 79,011 | 0.93 | 5 | -0.0157 % | 4,382.0 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0157 % | 3,419.0 |
| Perpetual-Premium | 5.69 % | 5.77 % | 76,080 | 14.03 | 7 | 0.1816 % | 3,078.0 |
| Perpetual-Discount | 5.65 % | 5.72 % | 43,582 | 14.24 | 28 | -0.2222 % | 3,347.1 |
| FixedReset Disc | 5.88 % | 6.05 % | 121,637 | 13.72 | 27 | 0.2605 % | 3,199.7 |
| Insurance Straight | 5.50 % | 5.55 % | 61,785 | 14.53 | 22 | 0.2430 % | 3,308.9 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2605 % | 3,806.4 |
| FixedReset Prem | 5.98 % | 4.46 % | 84,341 | 2.42 | 21 | -0.0238 % | 2,652.6 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2605 % | 3,270.7 |
| FixedReset Ins Non | 5.28 % | 5.51 % | 87,941 | 14.32 | 14 | 0.1566 % | 3,132.8 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| POW.PR.A | Perpetual-Discount | -4.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 23.32 Evaluated at bid price : 23.60 Bid-YTW : 6.03 % |
| ENB.PF.C | FixedReset Disc | -3.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 21.83 Evaluated at bid price : 22.20 Bid-YTW : 6.41 % |
| IFC.PR.K | Insurance Straight | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 23.65 Evaluated at bid price : 24.10 Bid-YTW : 5.54 % |
| ENB.PR.D | FixedReset Disc | 1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 21.47 Evaluated at bid price : 21.82 Bid-YTW : 6.28 % |
| IFC.PR.A | FixedReset Ins Non | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 21.77 Evaluated at bid price : 22.25 Bid-YTW : 5.47 % |
| FTS.PR.F | Perpetual-Discount | 1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 22.28 Evaluated at bid price : 22.55 Bid-YTW : 5.47 % |
| PWF.PR.S | Perpetual-Discount | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.67 % |
| FTS.PR.H | FixedReset Disc | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 20.03 Evaluated at bid price : 20.03 Bid-YTW : 5.59 % |
| IFC.PR.E | Insurance Straight | 1.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 23.59 Evaluated at bid price : 23.85 Bid-YTW : 5.55 % |
| PWF.PR.P | FixedReset Disc | 1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 20.15 Evaluated at bid price : 20.15 Bid-YTW : 5.86 % |
| ENB.PR.J | FixedReset Disc | 2.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 22.64 Evaluated at bid price : 23.33 Bid-YTW : 6.15 % |
| PWF.PR.T | FixedReset Disc | 2.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 23.27 Evaluated at bid price : 24.65 Bid-YTW : 5.56 % |
| CCS.PR.C | Insurance Straight | 3.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 23.14 Evaluated at bid price : 23.40 Bid-YTW : 5.35 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.Q | FixedReset Ins Non | 46,100 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-06-19 Maturity Price : 25.00 Evaluated at bid price : 25.29 Bid-YTW : 5.40 % |
| SLF.PR.H | FixedReset Ins Non | 40,400 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 22.13 Evaluated at bid price : 22.79 Bid-YTW : 5.65 % |
| IFC.PR.F | Insurance Straight | 30,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 23.34 Evaluated at bid price : 23.60 Bid-YTW : 5.72 % |
| BN.PF.J | FixedReset Prem | 25,900 | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.70 Bid-YTW : 4.46 % |
| ENB.PF.K | FixedReset Prem | 14,000 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-03-01 Maturity Price : 25.00 Evaluated at bid price : 25.86 Bid-YTW : 4.53 % |
| POW.PR.H | Perpetual-Premium | 13,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-16 Maturity Price : 24.74 Evaluated at bid price : 25.15 Bid-YTW : 5.80 % |
| There were 4 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 |
| POW.PR.A | Perpetual-Discount | Quote: 23.60 – 24.83 Spot Rate : 1.2300 Average : 0.7480 YTW SCENARIO |
| ENB.PF.C | FixedReset Disc | Quote: 22.20 – 23.00 Spot Rate : 0.8000 Average : 0.4952 YTW SCENARIO |
| BN.PF.A | FixedReset Prem | Quote: 25.05 – 26.30 Spot Rate : 1.2500 Average : 0.9541 YTW SCENARIO |
| NA.PR.C | FixedReset Prem | Quote: 26.54 – 27.48 Spot Rate : 0.9400 Average : 0.7103 YTW SCENARIO |
| PWF.PR.O | Perpetual-Premium | Quote: 25.07 – 25.52 Spot Rate : 0.4500 Average : 0.2806 YTW SCENARIO |
| ENB.PF.G | FixedReset Disc | Quote: 23.00 – 23.41 Spot Rate : 0.4100 Average : 0.2628 YTW SCENARIO |