{"id":40379,"date":"2020-03-04T00:13:50","date_gmt":"2020-03-04T05:13:50","guid":{"rendered":"http:\/\/prefblog.com\/?p=40379"},"modified":"2020-03-04T00:13:50","modified_gmt":"2020-03-04T05:13:50","slug":"march-3-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40379","title":{"rendered":"March 3, 2020"},"content":{"rendered":"

The Fed slashed its policy rate<\/a> today:<\/p>\n

The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1\/2 percentage point, to 1 to 1\u20111\/4 percent. The Committee is closely monitoring developments and their implications for the economic outlook and will use its tools and act as appropriate to support the economy.<\/p>\n

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; Richard H. Clarida; Patrick Harker; Robert S. Kaplan; Neel Kashkari; Loretta J. Mester; and Randal K. Quarles.<\/p><\/blockquote>\n

This had mixed results<\/a>:<\/p>\n

Stocks in the United States rallied for about 15 minutes after the rate cut, but worries about the Fed\u2019s impotence in the face of economic risks from the coronavirus<\/a> quickly fueled a market sell-off. By late Tuesday, stocks were sharply lower and bond yields had plummeted to previously unthinkable lows as investors sought a safe place to park their money.<\/p>\n

The S&P 500 fell about 2.8 percent, undoing some of Monday\u2019s 4.6 percent surge. The yield on 10-year Treasury notes dipped below 1 percent.<\/p>\n

Interest rates are now set in a 1 percent to 1.25 percent range, and Jerome H. Powell, the Fed chair, signaled that further moves were possible. \u201cThe virus and the measures that are being taken to contain it will surely weigh on economic activity, both here and abroad, for some time,\u201d Mr. Powell said at a news conference, adding the Fed was \u201cprepared to use our tools and act appropriately, depending on the flow of events.\u201d<\/p>\n

But the market\u2019s negative reaction may reflect a recognition that cutting interest rates or engaging in other types of fiscal stimulus will do little to contain the virus that has sickened more than 90,000 people, with major outbreaks taking hold in South Korea, Japan, Iran and Italy.<\/p><\/blockquote>\n

So now all eyes are on the Bank of Canada<\/a>:<\/p>\n

The Canadian dollar fell against the greenback on Tuesday, giving up much of the prior day\u2019s rally, as the Federal Reserve cut interest rates in an emergency move that investors see the Bank of Canada matching at a policy decision on Wednesday.<\/p>\n

At 2:50 p.m. (1950 GMT), the Canadian dollar was trading 0.4% lower at 1.3371 to the greenback, or 74.79 U.S. cents. The currency, which on Friday hit its weakest intraday level in nearly nine months at 1.3465, traded in a range of 1.3319 to 1.3387.
…<\/b>
Canadian government bond yields tumbled across a steeper yield curve in sympathy with U.S. Treasuries. The 10-year yield was down 14.9 basis points at 0.953%, its lowest level since October 2016.<\/p><\/blockquote>\n

The Canada five year yield<\/a> was down 15bp to 0.90%. On February 21, just before the Great Coronavirus Panic of 2020, the yield was 1.30%. That’s a fast decline, particularly when considering that the year-end value was 1.69%!<\/p>\n

So, the Canadian preferred share market got hit again today; and I’m afraid that the constant repetition isn’t helping my comprehension of the correlation at all! I’m just glad I don’t have to provide any valuations of accounts today – the quote quality is disgraceful. Who knows where anything is priced? But don’t worry – jobs at the Toronto Exchange are protected.<\/p>\n\n\n\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>\n-0.4523 %<\/td>\n1,850.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4523 %<\/td>\n3,395.3<\/td>\n<\/tr>\n
Floater<\/td>\n6.61 %<\/td>\n6.91 %<\/td>\n51,419<\/td>\n12.55<\/td>\n4<\/td>\n-0.4523 %<\/td>\n1,956.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0848 %<\/td>\n3,449.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.81 %<\/td>\n4.39 %<\/td>\n53,734<\/td>\n4.09<\/td>\n7<\/td>\n-0.0848 %<\/td>\n4,119.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0848 %<\/td>\n3,214.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.58 %<\/td>\n4.85 %<\/td>\n75,661<\/td>\n0.08<\/td>\n12<\/td>\n0.2218 %<\/td>\n3,052.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.28 %<\/td>\n5.35 %<\/td>\n71,507<\/td>\n14.87<\/td>\n24<\/td>\n0.4339 %<\/td>\n3,308.0<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n6.08 %<\/td>\n5.69 %<\/td>\n185,736<\/td>\n14.25<\/td>\n64<\/td>\n-2.0277 %<\/td>\n1,974.6<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.22 %<\/td>\n5.34 %<\/td>\n86,471<\/td>\n14.85<\/td>\n27<\/td>\n0.3963 %<\/td>\n3,232.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n6.44 %<\/td>\n6.27 %<\/td>\n69,553<\/td>\n13.47<\/td>\n3<\/td>\n-1.1175 %<\/td>\n2,272.9<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.15 %<\/td>\n4.54 %<\/td>\n136,985<\/td>\n1.39<\/td>\n22<\/td>\n-0.2008 %<\/td>\n2,630.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.93 %<\/td>\n3.31 %<\/td>\n97,374<\/td>\n1.87<\/td>\n3<\/td>\n-0.0948 %<\/td>\n2,754.3<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.88 %<\/td>\n5.54 %<\/td>\n103,734<\/td>\n14.41<\/td>\n22<\/td>\n-1.9290 %<\/td>\n2,015.0<\/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\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\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n-22.48 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 4101 shares today<\/a> in a range of 17.71-01 before being quoted at 14.00-17.88. The closing price was 17.73, reached at 3:13pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 14.00
\nEvaluated at bid price : 14.00
\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n

TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n-11.30 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 3765 shares today<\/a> in a range of 16.97-26 before being quoted at 15.15-16.97. The closing price was 16.97, reached at 3:59pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.15
\nEvaluated at bid price : 15.15
\nBid-YTW : 6.69 %<\/td>\n<\/tr>\n

RY.PR.H<\/td>\nFixedReset Disc<\/td>\n-8.54 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 15,510 shares today<\/a> in a range of 16.00-30 before being quoted at 14.77-16.10. The closing price was 16.01, reached at 3:57pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 14.77
\nEvaluated at bid price : 14.77
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n

IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-7.38 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 3,300 shares today<\/a> in a range of 13.22-47 before being quoted at no bid-13.30 (in cases of no bid, HIMIPref™ uses a bid one dollar below the ask). The closing price was 13.22, reached at 3:55pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 12.30
\nEvaluated at bid price : 12.30
\nBid-YTW : 6.01 %<\/td>\n<\/tr>\n

TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-6.71 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 7,373 shares today<\/a> in a range of 10.55-82 before being quoted at 10.01-57. The closing price was 10.55, reached at 3:59pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 10.01
\nEvaluated at bid price : 10.01
\nBid-YTW : 6.57 %<\/td>\n<\/tr>\n

BAM.PF.B<\/td>\nFixedReset Disc<\/td>\n-6.35 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 19,135 shares today<\/a> in a range of 16.57-15 before being quoted at no bid – 16.92 (in cases of no bid, HIMIPref™ uses a bid one dollar below the ask). The closing price was 16.91, reached at 3:44pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.92
\nEvaluated at bid price : 15.92
\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n

MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n-5.80 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 31,763 shares today<\/a> in a range of 16.39-52 before being quoted at no bid – 16.44 (in cases of no bid, HIMIPref™ uses a bid one dollar below the ask). The closing price was 16.42, reached at 3:24pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.44
\nEvaluated at bid price : 15.44
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n

MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n-5.66 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 13,680 shares today<\/a> in a range of 10.99-30 before being quoted at 10.50-00. The closing price was 10.99, reached at 2.27pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 10.50
\nEvaluated at bid price : 10.50
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n

RY.PR.M<\/td>\nFixedReset Disc<\/td>\n-5.48 %<\/td>\nA nonsensical quote provided at high cost by Nonsense Central<\/a>, as the issue traded 86,900 shares today<\/a> in a range of 16.90-10 before being quoted at 16.05-90. The closing price was 16.90, reached at 2.30pm.<\/p>\n

I have not checked whether the lamentable state of the quote is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.05
\nEvaluated at bid price : 16.05
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n

MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-3.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.00
\nEvaluated at bid price : 15.00
\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-3.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.75
\nEvaluated at bid price : 15.75
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-3.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 17.05
\nEvaluated at bid price : 17.05
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset Disc<\/td>\n-3.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 21.28
\nEvaluated at bid price : 21.56
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
BAM.PF.A<\/td>\nFixedReset Disc<\/td>\n-2.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 18.35
\nEvaluated at bid price : 18.35
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n-2.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n-2.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.60
\nEvaluated at bid price : 15.60
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-2.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 18.13
\nEvaluated at bid price : 18.13
\nBid-YTW : 5.51 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n-2.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 11.50
\nEvaluated at bid price : 11.50
\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-2.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 14.52
\nEvaluated at bid price : 14.52
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n-2.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 11.26
\nEvaluated at bid price : 11.26
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
EMA.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.81
\nEvaluated at bid price : 16.81
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n-2.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\n-2.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.95
\nEvaluated at bid price : 16.95
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n-2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 17.20
\nEvaluated at bid price : 17.20
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
NA.PR.G<\/td>\nFixedReset Disc<\/td>\n-2.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 18.35
\nEvaluated at bid price : 18.35
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 19.86
\nEvaluated at bid price : 19.86
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-2.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 9.85
\nEvaluated at bid price : 9.85
\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n-2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.02
\nEvaluated at bid price : 15.02
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-2.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 12.15
\nEvaluated at bid price : 12.15
\nBid-YTW : 4.87 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Disc<\/td>\n-1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 19.30
\nEvaluated at bid price : 19.30
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.80
\nEvaluated at bid price : 16.80
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n-1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.82
\nEvaluated at bid price : 16.82
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 18.01
\nEvaluated at bid price : 18.01
\nBid-YTW : 6.44 %<\/td>\n<\/tr>\n
HSE.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.40
\nEvaluated at bid price : 16.40
\nBid-YTW : 7.24 %<\/td>\n<\/tr>\n
HSE.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.29
\nEvaluated at bid price : 15.29
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset Disc<\/td>\n-1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 7.11 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n-1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 18.44
\nEvaluated at bid price : 18.44
\nBid-YTW : 5.22 %<\/td>\n<\/tr>\n
EMA.PR.F<\/td>\nFixedReset Disc<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
BIK.PR.A<\/td>\nFixedReset Prem<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.45
\nBid-YTW : 5.26 %<\/td>\n<\/tr>\n
MFC.PR.R<\/td>\nFixedReset Ins Non<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 22.58
\nEvaluated at bid price : 22.90
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.85
\nEvaluated at bid price : 15.85
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 18.80
\nEvaluated at bid price : 18.80
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
BMO.PR.B<\/td>\nFixedReset Prem<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.00
\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.14
\nEvaluated at bid price : 16.14
\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Prem<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.22
\nBid-YTW : 4.66 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.04
\nEvaluated at bid price : 16.04
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n
BMO.PR.F<\/td>\nFixedReset Disc<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 22.34
\nEvaluated at bid price : 23.02
\nBid-YTW : 5.10 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 11.65
\nEvaluated at bid price : 11.65
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.00
\nEvaluated at bid price : 15.00
\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n
EMA.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.39
\nEvaluated at bid price : 15.39
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 17.17
\nEvaluated at bid price : 17.17
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
TD.PF.H<\/td>\nFixedReset Prem<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.17
\nBid-YTW : 4.72 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.90
\nEvaluated at bid price : 15.90
\nBid-YTW : 5.36 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.60
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n
PVS.PR.H<\/td>\nSplitShare<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2027-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.06 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 22.21
\nEvaluated at bid price : 22.49
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 21.80
\nEvaluated at bid price : 22.04
\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 5.30 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.27 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 22.15
\nEvaluated at bid price : 22.49
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 22.10
\nEvaluated at bid price : 22.34
\nBid-YTW : 5.51 %<\/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
HSE.PR.A<\/td>\nFixedReset Disc<\/td>\n218,525<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 9.50
\nEvaluated at bid price : 9.50
\nBid-YTW : 7.46 %<\/td>\n<\/tr>\n
PVS.PR.H<\/td>\nSplitShare<\/td>\n185,500<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2027-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.06 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n106,390<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
BMO.PR.B<\/td>\nFixedReset Prem<\/td>\n96,440<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.00
\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n92,855<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n86,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 16.05
\nEvaluated at bid price : 16.05
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
There were 59 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
TD.PF.D<\/td>\nFixedReset Disc<\/td>\nQuote: 14.00 – 17.88
\nSpot Rate : 3.8800
\nAverage : 2.1328<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 14.00
\nEvaluated at bid price : 14.00
\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n

TRP.PR.G<\/td>\nFixedReset Disc<\/td>\nQuote: 15.15 – 16.97
\nSpot Rate : 1.8200
\nAverage : 1.1082<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.15
\nEvaluated at bid price : 15.15
\nBid-YTW : 6.69 %<\/td>\n<\/tr>\n

NA.PR.C<\/td>\nFixedReset Disc<\/td>\nQuote: 19.86 – 21.40
\nSpot Rate : 1.5400
\nAverage : 0.9298<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 19.86
\nEvaluated at bid price : 19.86
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n

RY.PR.H<\/td>\nFixedReset Disc<\/td>\nQuote: 14.77 – 16.10
\nSpot Rate : 1.3300
\nAverage : 0.7540<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 14.77
\nEvaluated at bid price : 14.77
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n

GWO.PR.M<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.42 – 26.42
\nSpot Rate : 1.0000
\nAverage : 0.6054<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-04-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.42
\nBid-YTW : -19.11 %<\/td>\n<\/tr>\n

MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\nQuote: 15.44 – 16.44
\nSpot Rate : 1.0000
\nAverage : 0.6080<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-03-03
\nMaturity Price : 15.44
\nEvaluated at bid price : 15.44
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Fed slashed its policy rate today: The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its …<\/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-40379","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40379","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=40379"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40379\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}