{"id":33180,"date":"2016-06-08T21:33:45","date_gmt":"2016-06-09T02:33:45","guid":{"rendered":"http:\/\/prefblog.com\/?p=33180"},"modified":"2016-06-08T21:33:45","modified_gmt":"2016-06-09T02:33:45","slug":"june-8-2016","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33180","title":{"rendered":"June 8, 2016"},"content":{"rendered":"

PerpetualDiscounts now have a yield of 5.38%, equivalent to 6.99% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> now yield 3.9%, so the pre-tax interest-equivalent spread is now about 310bp, narrowing from the 320bp reported June 1<\/a>.<\/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>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4155 %<\/td>\n1,682.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4155 %<\/td>\n3,073.7<\/td>\n<\/tr>\n
Floater<\/td>\n4.51 %<\/td>\n4.58 %<\/td>\n66,142<\/td>\n16.17<\/td>\n3<\/td>\n0.4155 %<\/td>\n1,771.4<\/td>\n<\/tr>\n
OpRet<\/td>\n4.87 %<\/td>\n-1.25 %<\/td>\n42,959<\/td>\n0.08<\/td>\n1<\/td>\n0.0796 %<\/td>\n2,831.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.88 %<\/td>\n4.71 %<\/td>\n86,961<\/td>\n4.69<\/td>\n7<\/td>\n0.2938 %<\/td>\n3,341.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2938 %<\/td>\n2,607.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.60 %<\/td>\n-1.34 %<\/td>\n75,481<\/td>\n0.09<\/td>\n9<\/td>\n0.2131 %<\/td>\n2,625.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.37 %<\/td>\n5.38 %<\/td>\n107,687<\/td>\n14.66<\/td>\n28<\/td>\n0.1639 %<\/td>\n2,730.0<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.07 %<\/td>\n4.53 %<\/td>\n163,198<\/td>\n14.58<\/td>\n87<\/td>\n0.2324 %<\/td>\n2,013.4<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.11 %<\/td>\n5.35 %<\/td>\n131,433<\/td>\n4.96<\/td>\n33<\/td>\n0.0832 %<\/td>\n2,705.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.10 %<\/td>\n5.00 %<\/td>\n26,842<\/td>\n5.23<\/td>\n17<\/td>\n0.1911 %<\/td>\n2,119.9<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BMO.PR.Q<\/td>\nFixedReset<\/td>\n-3.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.51
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset<\/td>\n-2.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.58
\nBid-YTW : 10.13 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset<\/td>\n-2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 16.36
\nBid-YTW : 8.54 %<\/td>\n<\/tr>\n
EML.PR.A<\/td>\nFixedReset<\/td>\n-1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.80
\nBid-YTW : 5.22 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset<\/td>\n-1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 17.71
\nEvaluated at bid price : 17.71
\nBid-YTW : 4.37 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.30
\nBid-YTW : 9.44 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset<\/td>\n1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 20.20
\nEvaluated at bid price : 20.20
\nBid-YTW : 4.33 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 17.48
\nEvaluated at bid price : 17.48
\nBid-YTW : 4.12 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 4.40 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nDeemed-Retractible<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.83
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 13.91
\nEvaluated at bid price : 13.91
\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n
FTS.PR.G<\/td>\nFixedReset<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 4.27 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 19.42
\nEvaluated at bid price : 19.42
\nBid-YTW : 4.32 %<\/td>\n<\/tr>\n
FTS.PR.I<\/td>\nFloatingReset<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 12.05
\nEvaluated at bid price : 12.05
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 19.81
\nEvaluated at bid price : 19.81
\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset<\/td>\n1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 20.15
\nEvaluated at bid price : 20.15
\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset<\/td>\n1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 4.37 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset<\/td>\n1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 14.58
\nEvaluated at bid price : 14.58
\nBid-YTW : 4.16 %<\/td>\n<\/tr>\n
HSE.PR.E<\/td>\nFixedReset<\/td>\n1.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset<\/td>\n2.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 17.96
\nEvaluated at bid price : 17.96
\nBid-YTW : 4.32 %<\/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
TD.PF.G<\/td>\nFixedReset<\/td>\n137,715<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.31
\nBid-YTW : 4.46 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset<\/td>\n74,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 18.63
\nEvaluated at bid price : 18.63
\nBid-YTW : 4.15 %<\/td>\n<\/tr>\n
RY.PR.R<\/td>\nFixedReset<\/td>\n72,100<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.45
\nBid-YTW : 4.57 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset<\/td>\n72,025<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 4.37 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset<\/td>\n58,978<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 18.76
\nEvaluated at bid price : 18.76
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset<\/td>\n54,863<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 17.71
\nEvaluated at bid price : 17.71
\nBid-YTW : 4.52 %<\/td>\n<\/tr>\n
There were 41 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
SLF.PR.H<\/td>\nFixedReset<\/td>\nQuote: 16.36 – 16.74
\nSpot Rate : 0.3800
\nAverage : 0.2566<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 16.36
\nBid-YTW : 8.54 %<\/td>\n<\/tr>\n

ALB.PR.C<\/td>\nSplitShare<\/td>\nQuote: 26.02 – 26.55
\nSpot Rate : 0.5300
\nAverage : 0.4167<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-02-28
\nMaturity Price : 25.67
\nEvaluated at bid price : 26.02
\nBid-YTW : 2.97 %<\/td>\n<\/tr>\n

IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.03 – 22.45
\nSpot Rate : 0.4200
\nAverage : 0.3214<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.03
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n

BMO.PR.R<\/td>\nFloatingReset<\/td>\nQuote: 21.85 – 22.25
\nSpot Rate : 0.4000
\nAverage : 0.3033<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.85
\nBid-YTW : 4.69 %<\/td>\n<\/tr>\n

TRP.PR.I<\/td>\nFloatingReset<\/td>\nQuote: 11.35 – 12.00
\nSpot Rate : 0.6500
\nAverage : 0.5567<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 11.35
\nEvaluated at bid price : 11.35
\nBid-YTW : 4.56 %<\/td>\n<\/tr>\n

FTS.PR.I<\/td>\nFloatingReset<\/td>\nQuote: 12.05 – 12.53
\nSpot Rate : 0.4800
\nAverage : 0.3869<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-06-08
\nMaturity Price : 12.05
\nEvaluated at bid price : 12.05
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PerpetualDiscounts now have a yield of 5.38%, equivalent to 6.99% interest at the standard equivalency factor of 1.3x. Long corporates now yield 3.9%, so the pre-tax interest-equivalent spread is now about 310bp, narrowing from the …<\/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-33180","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33180","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=33180"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33180\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}