This post will be delayed a little bit. Sorry!
Update, 2026-09-05:
| 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 | 0.2556 % | 2,669.3 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2556 % | 5,026.8 |
| Floater | 5.41 % | 5.51 % | 30,721 | 14.60 | 3 | 0.2556 % | 2,896.9 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1667 % | 3,634.2 |
| SplitShare | 4.79 % | 4.29 % | 60,550 | 2.58 | 5 | 0.1667 % | 4,340.0 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1667 % | 3,386.2 |
| Perpetual-Premium | 5.65 % | 5.56 % | 51,878 | 6.73 | 12 | -0.0232 % | 3,074.4 |
| Perpetual-Discount | 5.55 % | 5.65 % | 38,031 | 14.38 | 21 | 0.3223 % | 3,399.3 |
| FixedReset Disc | 5.51 % | 5.87 % | 91,184 | 14.00 | 17 | -0.2594 % | 3,410.6 |
| Insurance Straight | 5.40 % | 5.50 % | 43,167 | 14.49 | 20 | 0.0972 % | 3,330.6 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2594 % | 4,164.3 |
| FixedReset Prem | 5.94 % | 4.61 % | 77,360 | 2.18 | 32 | -0.8008 % | 2,651.3 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2594 % | 3,486.3 |
| FixedReset Ins Non | 5.19 % | 4.64 % | 51,980 | 1.93 | 14 | -0.2941 % | 3,286.7 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BN.PR.Z | FixedReset Prem | -26.89 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 8.47 % |
| IFC.PR.A | FixedReset Ins Non | -4.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 22.39 Evaluated at bid price : 22.81 Bid-YTW : 5.60 % |
| ENB.PR.F | FixedReset Disc | -2.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 23.13 Evaluated at bid price : 23.51 Bid-YTW : 6.21 % |
| ENB.PF.G | FixedReset Disc | -1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 22.95 Evaluated at bid price : 24.21 Bid-YTW : 6.09 % |
| BN.PF.E | FixedReset Disc | -1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 23.15 Evaluated at bid price : 24.61 Bid-YTW : 5.85 % |
| IFC.PR.K | Insurance Straight | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 23.17 Evaluated at bid price : 23.61 Bid-YTW : 5.64 % |
| GWO.PR.Z | Insurance Straight | -1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 24.64 Evaluated at bid price : 25.05 Bid-YTW : 5.78 % |
| MFC.PR.L | FixedReset Ins Non | -1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 23.38 Evaluated at bid price : 24.90 Bid-YTW : 5.51 % |
| BN.PR.B | Floater | -1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 13.85 Evaluated at bid price : 13.85 Bid-YTW : 5.73 % |
| GWO.PR.I | Insurance Straight | -1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 5.44 % |
| PWF.PR.T | FixedReset Prem | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 23.51 Evaluated at bid price : 25.05 Bid-YTW : 5.67 % |
| NA.PR.C | FixedReset Prem | -1.02 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-11-15 Maturity Price : 25.00 Evaluated at bid price : 26.27 Bid-YTW : 2.99 % |
| SLF.PR.G | FixedReset Ins Non | 1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 21.31 Evaluated at bid price : 21.60 Bid-YTW : 5.35 % |
| BIP.PR.E | FixedReset Prem | 1.28 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-03-31 Maturity Price : 25.00 Evaluated at bid price : 26.00 Bid-YTW : 3.69 % |
| PWF.PR.R | Perpetual-Discount | 1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 24.12 Evaluated at bid price : 24.37 Bid-YTW : 5.70 % |
| GWO.PR.N | FixedReset Ins Non | 1.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 21.29 Evaluated at bid price : 21.29 Bid-YTW : 5.37 % |
| TD.PF.J | FixedReset Prem | 1.43 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-04-30 Maturity Price : 25.00 Evaluated at bid price : 26.25 Bid-YTW : 2.97 % |
| CCS.PR.C | Insurance Straight | 1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 23.58 Evaluated at bid price : 23.85 Bid-YTW : 5.32 % |
| MFC.PR.K | FixedReset Ins Non | 1.51 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-19 Maturity Price : 25.00 Evaluated at bid price : 26.25 Bid-YTW : 3.66 % |
| PWF.PR.A | Floater | 1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 14.90 Evaluated at bid price : 14.90 Bid-YTW : 5.28 % |
| MFC.PR.B | Insurance Straight | 1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 22.66 Evaluated at bid price : 22.90 Bid-YTW : 5.08 % |
| PWF.PR.K | Perpetual-Discount | 2.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 21.90 Evaluated at bid price : 22.14 Bid-YTW : 5.65 % |
| BN.PR.N | Perpetual-Discount | 3.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 21.31 Evaluated at bid price : 21.31 Bid-YTW : 5.68 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BILP.PR.A | FixedReset Prem | 112,827 | YTW SCENARIO Maturity Type : Call Maturity Date : 2031-10-01 Maturity Price : 25.00 Evaluated at bid price : 25.31 Bid-YTW : 5.40 % |
| IFC.PR.C | FixedReset Ins Non | 49,375 | YTW SCENARIO Maturity Type : Call Maturity Date : 2026-09-30 Maturity Price : 25.00 Evaluated at bid price : 25.15 Bid-YTW : 3.22 % |
| PWF.PR.R | Perpetual-Discount | 32,389 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 24.12 Evaluated at bid price : 24.37 Bid-YTW : 5.70 % |
| BMO.PR.E | FixedReset Prem | 20,842 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-11-25 Maturity Price : 25.00 Evaluated at bid price : 27.15 Bid-YTW : 2.88 % |
| FFH.PR.K | FixedReset Prem | 18,050 | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.30 Bid-YTW : 4.46 % |
| POW.PR.D | Perpetual-Discount | 16,628 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-08-31 Maturity Price : 22.49 Evaluated at bid price : 22.75 Bid-YTW : 5.57 % |
| 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 |
| BN.PR.Z | FixedReset Prem | Quote: 19.00 – 26.01 Spot Rate : 7.0100 Average : 3.7442 YTW SCENARIO |
| IFC.PR.A | FixedReset Ins Non | Quote: 22.81 – 24.05 Spot Rate : 1.2400 Average : 0.7830 YTW SCENARIO |
| GWO.PR.S | Insurance Straight | Quote: 23.65 – 24.49 Spot Rate : 0.8400 Average : 0.5338 YTW SCENARIO |
| ENB.PR.F | FixedReset Disc | Quote: 23.51 – 24.45 Spot Rate : 0.9400 Average : 0.7092 YTW SCENARIO |
| BN.PF.E | FixedReset Disc | Quote: 24.61 – 25.35 Spot Rate : 0.7400 Average : 0.5135 YTW SCENARIO |
| ENB.PF.G | FixedReset Disc | Quote: 24.21 – 24.87 Spot Rate : 0.6600 Average : 0.4519 YTW SCENARIO |
[…] continue to yield more than PerpetualDiscounts; on August 31, I reported median YTWs of 5.87% and 5.65%, respectively, for these two indices; compare with mean […]