The New York Fed published the latest Survey of Consumer Expectations:
March Survey: Short-Term Inflation Expectations Rise as Gas Price Growth Expectations Surge; Labor Expectations Come in Mixed
- Median inflation expectations increased by 0.4 percentage point (ppt) to 3.4 percent at the one-year-ahead horizon, increased by 0.1 ppt to 3.1 percent at the three-year-ahead horizon, and were unchanged at 3.0 percent at the five-year-ahead horizon in March.
- Median year-ahead commodity price change expectations increased by 5.3 ppts for gas to 9.4 percent, the highest reading since March 2022.
- The mean perceived probability of finding a job if one’s current job was lost increased by 1.9 ppts to 45.9 percent; however, the mean perceived probability of losing one’s job in the next twelve months also increased by 0.6 ppt to 14.4 percent.
- Perceptions about households’ current financial situations deteriorated compared to a year ago, with a larger share of households reporting a worse financial situation and a smaller share reporting a better financial situation. Year-ahead expectations about households’ financial situations also worsened, with the share of households expecting a worse financial situation at its highest level since April 2025.
For more details:
Press Release: Short-Term Inflation Expectations Increase as Gas Price Growth Expectations Spike
| 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 | -0.1678 % | 2,489.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1678 % | 4,720.2 |
| Floater | 5.82 % | 5.97 % | 25,462 | 13.97 | 4 | -0.1678 % | 2,720.3 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0553 % | 3,655.2 |
| SplitShare | 4.78 % | 4.52 % | 71,467 | 2.91 | 5 | 0.0553 % | 4,365.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0553 % | 3,405.8 |
| Perpetual-Premium | 5.85 % | 5.96 % | 54,238 | 13.84 | 1 | -0.1980 % | 3,025.7 |
| Perpetual-Discount | 5.76 % | 5.80 % | 49,980 | 14.17 | 34 | 0.0301 % | 3,290.0 |
| FixedReset Disc | 5.90 % | 6.10 % | 104,575 | 13.68 | 27 | -0.2694 % | 3,192.5 |
| Insurance Straight | 5.66 % | 5.78 % | 63,604 | 14.26 | 22 | 0.0635 % | 3,213.7 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2694 % | 3,797.8 |
| FixedReset Prem | 6.02 % | 4.71 % | 87,105 | 2.39 | 21 | -0.2521 % | 2,635.8 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2694 % | 3,263.4 |
| FixedReset Ins Non | 5.26 % | 5.51 % | 80,600 | 14.35 | 14 | 0.2203 % | 3,145.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| ENB.PR.Y | FixedReset Disc | -4.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 20.66 Evaluated at bid price : 20.66 Bid-YTW : 6.69 % |
| ENB.PF.G | FixedReset Disc | -3.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 21.87 Evaluated at bid price : 22.30 Bid-YTW : 6.52 % |
| NA.PR.G | FixedReset Prem | -2.51 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-11-16 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 5.70 % |
| GWO.PR.T | Insurance Straight | -2.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 21.67 Evaluated at bid price : 21.92 Bid-YTW : 5.91 % |
| ENB.PF.C | FixedReset Disc | -1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 21.92 Evaluated at bid price : 22.32 Bid-YTW : 6.44 % |
| BN.PF.G | FixedReset Disc | -1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 22.85 Evaluated at bid price : 24.04 Bid-YTW : 6.10 % |
| ENB.PF.K | FixedReset Prem | -1.17 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-03-01 Maturity Price : 25.00 Evaluated at bid price : 25.25 Bid-YTW : 6.04 % |
| BN.PF.E | FixedReset Disc | -1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 22.59 Evaluated at bid price : 23.45 Bid-YTW : 5.91 % |
| GWO.PR.Y | Insurance Straight | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.67 % |
| IFC.PR.I | Insurance Straight | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 23.81 Evaluated at bid price : 24.25 Bid-YTW : 5.59 % |
| PWF.PR.P | FixedReset Disc | 1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 20.56 Evaluated at bid price : 20.56 Bid-YTW : 5.80 % |
| CU.PR.C | FixedReset Disc | 2.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 24.31 Evaluated at bid price : 24.69 Bid-YTW : 5.61 % |
| SLF.PR.H | FixedReset Ins Non | 2.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 22.25 Evaluated at bid price : 23.00 Bid-YTW : 5.66 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| GWO.PR.G | Insurance Straight | 54,900 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 22.35 Evaluated at bid price : 22.62 Bid-YTW : 5.78 % |
| FTS.PR.H | FixedReset Disc | 50,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 19.95 Evaluated at bid price : 19.95 Bid-YTW : 5.67 % |
| GWO.PR.L | Insurance Straight | 32,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 24.00 Evaluated at bid price : 24.25 Bid-YTW : 5.86 % |
| GWO.PR.P | Insurance Straight | 26,600 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 23.16 Evaluated at bid price : 23.42 Bid-YTW : 5.80 % |
| MFC.PR.I | FixedReset Ins Non | 25,750 | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-09-19 Maturity Price : 25.00 Evaluated at bid price : 25.72 Bid-YTW : 4.15 % |
| FTS.PR.M | FixedReset Disc | 21,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-04-07 Maturity Price : 23.16 Evaluated at bid price : 24.64 Bid-YTW : 5.65 % |
| There were 12 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: 21.92 – 25.00 Spot Rate : 3.0800 Average : 2.4065 YTW SCENARIO |
| MFC.PR.I | FixedReset Ins Non | Quote: 25.72 – 26.72 Spot Rate : 1.0000 Average : 0.5890 YTW SCENARIO |
| ENB.PF.G | FixedReset Disc | Quote: 22.30 – 23.11 Spot Rate : 0.8100 Average : 0.4978 YTW SCENARIO |
| ENB.PR.Y | FixedReset Disc | Quote: 20.66 – 21.66 Spot Rate : 1.0000 Average : 0.6923 YTW SCENARIO |
| NA.PR.G | FixedReset Prem | Quote: 25.65 – 26.40 Spot Rate : 0.7500 Average : 0.4780 YTW SCENARIO |
| CU.PR.H | Perpetual-Discount | Quote: 22.93 – 23.86 Spot Rate : 0.9300 Average : 0.7121 YTW SCENARIO |