The SEC has released a lot of statistics that may be of interest:
The Securities and Exchange Commission’s Division of Economic and Risk Analysis (DERA) published a new report on security based swap dealers (SBSDs) and updated statistics and data visualizations on initial public offerings (IPOs), follow-on registered offerings, corporate bond offerings, Regulation A offerings, Regulation Crowdfunding offerings, Regulation D offerings, municipal advisors, transfer agents, SBSDs, and asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS) issuances.
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Market activity increased across several categories in 2025. The updated statistics show that in 2025 there were 374 IPOs raising over $70 billion in proceeds, up from 246 IPOs raising $39 billion in 2024. The number of follow-on registered offerings increased slightly in 2025, while the amount of capital raised in the offerings decreased slightly. Amounts raised in unregistered offerings also increased in 2025. There were 34,553 Regulation D offerings in 2025 compared to 32,554 Regulation D offerings in 2024. These offerings raised $2.1 trillion in capital in 2024 and $2.4 trillion in 2025.
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These findings and other statistics can be found on the SEC’s public statistics and data visualizations webpage. The webpage provides statistics presented in time series charts to show market trends, pie charts to show distribution across different categories, as well as heat maps to show geographic distributions. The visuals are interactive and downloadable, thus allowing the public to explore the information they are interested in.In addition to the statistics updates, Commission staff also released a report on The Financial Conditions of Security-Based Swap Dealers. The report presents statistics on selected measures of SBSDs’ financial conditions, including statistics on assets held, cash, financial leverage, profitability, and aggregate positions in security-based swaps, swaps, and mixed swaps.
| 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 | 0.2478 % | 2,494.9 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2478 % | 4,730.6 |
| Floater | 5.77 % | 5.95 % | 52,741 | 14.04 | 3 | 0.2478 % | 2,726.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0315 % | 3,670.5 |
| SplitShare | 4.76 % | 3.93 % | 78,832 | 0.93 | 5 | 0.0315 % | 4,383.3 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0315 % | 3,420.1 |
| Perpetual-Premium | 5.70 % | 5.81 % | 75,255 | 14.06 | 7 | -0.3172 % | 3,068.3 |
| Perpetual-Discount | 5.63 % | 5.70 % | 43,536 | 14.28 | 28 | 0.3700 % | 3,359.5 |
| FixedReset Disc | 5.87 % | 6.04 % | 124,903 | 13.84 | 27 | 0.2453 % | 3,207.5 |
| Insurance Straight | 5.52 % | 5.57 % | 61,742 | 14.55 | 22 | -0.3656 % | 3,296.8 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2453 % | 3,815.7 |
| FixedReset Prem | 5.98 % | 4.65 % | 88,482 | 2.02 | 21 | -0.0293 % | 2,651.9 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2453 % | 3,278.7 |
| FixedReset Ins Non | 5.30 % | 5.57 % | 84,421 | 14.40 | 14 | -0.3832 % | 3,120.8 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| GWO.PR.Y | Insurance Straight | -2.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.65 % |
| IFC.PR.A | FixedReset Ins Non | -2.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 21.36 Evaluated at bid price : 21.36 Bid-YTW : 5.64 % |
| CU.PR.F | Perpetual-Discount | -2.57 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 19.70 Evaluated at bid price : 19.70 Bid-YTW : 5.77 % |
| TD.PF.I | FixedReset Prem | -2.46 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-10-31 Maturity Price : 25.00 Evaluated at bid price : 25.75 Bid-YTW : 4.91 % |
| ENB.PR.B | FixedReset Disc | -2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 21.40 Evaluated at bid price : 21.40 Bid-YTW : 6.43 % |
| CCS.PR.C | Insurance Straight | -1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 22.71 Evaluated at bid price : 23.00 Bid-YTW : 5.44 % |
| POW.PR.C | Perpetual-Premium | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 24.88 Evaluated at bid price : 25.20 Bid-YTW : 5.85 % |
| FTS.PR.F | Perpetual-Discount | -1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 22.07 Evaluated at bid price : 22.30 Bid-YTW : 5.53 % |
| IFC.PR.K | Insurance Straight | -1.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 23.09 Evaluated at bid price : 23.52 Bid-YTW : 5.58 % |
| PWF.PR.S | Perpetual-Discount | 1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 21.48 Evaluated at bid price : 21.74 Bid-YTW : 5.59 % |
| SLF.PR.G | FixedReset Ins Non | 1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 18.93 Evaluated at bid price : 18.93 Bid-YTW : 5.85 % |
| ENB.PF.C | FixedReset Disc | 1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 22.03 Evaluated at bid price : 22.50 Bid-YTW : 6.32 % |
| ENB.PF.G | FixedReset Disc | 1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 22.48 Evaluated at bid price : 23.32 Bid-YTW : 6.15 % |
| IFC.PR.I | Insurance Straight | 1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 23.95 Evaluated at bid price : 24.25 Bid-YTW : 5.57 % |
| BN.PR.X | FixedReset Disc | 1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 19.91 Evaluated at bid price : 19.91 Bid-YTW : 6.11 % |
| POW.PR.D | Perpetual-Discount | 3.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 22.72 Evaluated at bid price : 23.01 Bid-YTW : 5.52 % |
| POW.PR.A | Perpetual-Discount | 4.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 24.50 Evaluated at bid price : 24.75 Bid-YTW : 5.75 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BN.PF.J | FixedReset Prem | 83,870 | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.54 Bid-YTW : 4.84 % |
| PWF.PR.T | FixedReset Disc | 70,601 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 23.32 Evaluated at bid price : 24.77 Bid-YTW : 5.53 % |
| BN.PR.R | FixedReset Disc | 70,100 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 21.66 Evaluated at bid price : 22.05 Bid-YTW : 6.05 % |
| TD.PF.A | FixedReset Prem | 30,900 | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-10-31 Maturity Price : 25.00 Evaluated at bid price : 25.80 Bid-YTW : 4.22 % |
| TD.PF.J | FixedReset Prem | 30,735 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-04-30 Maturity Price : 25.00 Evaluated at bid price : 26.00 Bid-YTW : 4.15 % |
| ENB.PF.E | FixedReset Disc | 27,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-03-17 Maturity Price : 22.31 Evaluated at bid price : 22.97 Bid-YTW : 6.17 % |
| There were 7 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 |
| TD.PF.I | FixedReset Prem | Quote: 25.75 – 26.65 Spot Rate : 0.9000 Average : 0.6182 YTW SCENARIO |
| IFC.PR.A | FixedReset Ins Non | Quote: 21.36 – 22.22 Spot Rate : 0.8600 Average : 0.5843 YTW SCENARIO |
| CU.PR.F | Perpetual-Discount | Quote: 19.70 – 20.70 Spot Rate : 1.0000 Average : 0.7551 YTW SCENARIO |
| IFC.PR.K | Insurance Straight | Quote: 23.52 – 24.21 Spot Rate : 0.6900 Average : 0.4738 YTW SCENARIO |
| ENB.PR.B | FixedReset Disc | Quote: 21.40 – 21.94 Spot Rate : 0.5400 Average : 0.3279 YTW SCENARIO |
| GWO.PR.Y | Insurance Straight | Quote: 20.00 – 20.79 Spot Rate : 0.7900 Average : 0.5921 YTW SCENARIO |