{"id":32885,"date":"2016-04-06T23:55:30","date_gmt":"2016-04-07T04:55:30","guid":{"rendered":"http:\/\/prefblog.com\/?p=32885"},"modified":"2016-04-06T23:55:30","modified_gmt":"2016-04-07T04:55:30","slug":"april-6-2016","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32885","title":{"rendered":"April 6, 2016"},"content":{"rendered":"

Just the bare bones again! Hopefully I’ll have caught up with all my overdue things in the near future!<\/p>\n

PerpetualDiscounts now have a yield of 5.58%, equivalent to 7.25% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> now yield about 4.05%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 320bp, unchanged from the March 30<\/a> figure.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n5.01 %<\/td>\n6.09 %<\/td>\n10,310<\/td>\n16.57<\/td>\n1<\/td>\n0.7463 %<\/td>\n1,570.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n6.79 %<\/td>\n5.97 %<\/td>\n21,895<\/td>\n16.33<\/td>\n1<\/td>\n0.0000 %<\/td>\n2,929.8<\/td>\n<\/tr>\n
Floater<\/td>\n4.58 %<\/td>\n4.76 %<\/td>\n60,412<\/td>\n15.98<\/td>\n4<\/td>\n0.4383 %<\/td>\n1,689.5<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0068 %<\/td>\n2,803.0<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.73 %<\/td>\n5.06 %<\/td>\n88,979<\/td>\n1.60<\/td>\n6<\/td>\n-0.0068 %<\/td>\n3,280.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0068 %<\/td>\n2,559.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.80 %<\/td>\n-9.27 %<\/td>\n92,281<\/td>\n0.08<\/td>\n6<\/td>\n0.4702 %<\/td>\n2,581.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.57 %<\/td>\n5.58 %<\/td>\n95,674<\/td>\n14.49<\/td>\n33<\/td>\n0.1455 %<\/td>\n2,618.8<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.23 %<\/td>\n4.65 %<\/td>\n181,452<\/td>\n14.01<\/td>\n87<\/td>\n0.5733 %<\/td>\n1,945.6<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.20 %<\/td>\n5.44 %<\/td>\n123,630<\/td>\n5.10<\/td>\n34<\/td>\n-0.0374 %<\/td>\n2,623.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.13 %<\/td>\n5.02 %<\/td>\n35,896<\/td>\n5.40<\/td>\n17<\/td>\n-0.0658 %<\/td>\n2,018.1<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
GWO.PR.O<\/td>\nFloatingReset<\/td>\n-2.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 11.75
\nBid-YTW : 11.47 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset<\/td>\n-1.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 19.08
\nEvaluated at bid price : 19.08
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n-1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 10.06
\nEvaluated at bid price : 10.06
\nBid-YTW : 6.05 %<\/td>\n<\/tr>\n
PWF.PR.Q<\/td>\nFloatingReset<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 11.35
\nEvaluated at bid price : 11.35
\nBid-YTW : 4.49 %<\/td>\n<\/tr>\n
PVS.PR.D<\/td>\nSplitShare<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2021-10-08
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.50
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.89
\nEvaluated at bid price : 18.89
\nBid-YTW : 5.01 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.45
\nBid-YTW : 7.22 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.75
\nEvaluated at bid price : 18.75
\nBid-YTW : 4.21 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 4.18 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 4.20 %<\/td>\n<\/tr>\n
FTS.PR.M<\/td>\nFixedReset<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.52
\nEvaluated at bid price : 18.52
\nBid-YTW : 4.58 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.65
\nBid-YTW : 8.17 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 11.40
\nEvaluated at bid price : 11.40
\nBid-YTW : 4.19 %<\/td>\n<\/tr>\n
CIU.PR.C<\/td>\nFixedReset<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 11.25
\nEvaluated at bid price : 11.25
\nBid-YTW : 4.62 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset<\/td>\n1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 17.94
\nEvaluated at bid price : 17.94
\nBid-YTW : 4.44 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 4.25 %<\/td>\n<\/tr>\n
BAM.PF.F<\/td>\nFixedReset<\/td>\n1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 19.67
\nEvaluated at bid price : 19.67
\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 15.21
\nEvaluated at bid price : 15.21
\nBid-YTW : 4.95 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 14.47
\nEvaluated at bid price : 14.47
\nBid-YTW : 4.55 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 11.27
\nEvaluated at bid price : 11.27
\nBid-YTW : 4.49 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset<\/td>\n1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 4.75 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset<\/td>\n1.89 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.91
\nEvaluated at bid price : 18.91
\nBid-YTW : 4.37 %<\/td>\n<\/tr>\n
TD.PF.E<\/td>\nFixedReset<\/td>\n2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 20.73
\nEvaluated at bid price : 20.73
\nBid-YTW : 4.34 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset<\/td>\n2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 16.59
\nEvaluated at bid price : 16.59
\nBid-YTW : 4.48 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset<\/td>\n2.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.96
\nBid-YTW : 7.52 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset<\/td>\n2.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.70
\nEvaluated at bid price : 18.70
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n2.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 11.80
\nEvaluated at bid price : 11.80
\nBid-YTW : 4.75 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset<\/td>\n3.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 13.10
\nEvaluated at bid price : 13.10
\nBid-YTW : 4.28 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset<\/td>\n3.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 20.30
\nEvaluated at bid price : 20.30
\nBid-YTW : 4.33 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
NA.PR.X<\/td>\nFixedReset<\/td>\n132,400<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-05-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.45
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n123,485<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 20.52
\nEvaluated at bid price : 20.52
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
MFC.PR.O<\/td>\nFixedReset<\/td>\n112,070<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-06-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.17
\nBid-YTW : 4.75 %<\/td>\n<\/tr>\n
FTS.PR.M<\/td>\nFixedReset<\/td>\n83,673<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.52
\nEvaluated at bid price : 18.52
\nBid-YTW : 4.58 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset<\/td>\n68,887<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset<\/td>\n60,920<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.35
\nBid-YTW : 10.45 %<\/td>\n<\/tr>\n
There were 28 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset<\/td>\nQuote: 17.90 – 18.49
\nSpot Rate : 0.5900
\nAverage : 0.3762<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.90
\nBid-YTW : 7.88 %<\/td>\n<\/tr>\n

BMO.PR.T<\/td>\nFixedReset<\/td>\nQuote: 18.50 – 19.00
\nSpot Rate : 0.5000
\nAverage : 0.3644<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 4.25 %<\/td>\n<\/tr>\n

TD.PF.B<\/td>\nFixedReset<\/td>\nQuote: 18.55 – 18.95
\nSpot Rate : 0.4000
\nAverage : 0.2682<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 4.20 %<\/td>\n<\/tr>\n

HSE.PR.A<\/td>\nFixedReset<\/td>\nQuote: 10.06 – 10.50
\nSpot Rate : 0.4400
\nAverage : 0.3113<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 10.06
\nEvaluated at bid price : 10.06
\nBid-YTW : 6.05 %<\/td>\n<\/tr>\n

TD.PF.A<\/td>\nFixedReset<\/td>\nQuote: 18.60 – 18.95
\nSpot Rate : 0.3500
\nAverage : 0.2371<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 4.20 %<\/td>\n<\/tr>\n

TRP.PR.D<\/td>\nFixedReset<\/td>\nQuote: 17.35 – 17.61
\nSpot Rate : 0.2600
\nAverage : 0.1590<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-04-06
\nMaturity Price : 17.35
\nEvaluated at bid price : 17.35
\nBid-YTW : 4.65 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Just the bare bones again! Hopefully I’ll have caught up with all my overdue things in the near future! PerpetualDiscounts now have a yield of 5.58%, equivalent to 7.25% interest at the standard equivalency factor …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-32885","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32885","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32885"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32885\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}