{"id":40666,"date":"2020-04-02T20:06:15","date_gmt":"2020-04-03T01:06:15","guid":{"rendered":"http:\/\/prefblog.com\/?p=40666"},"modified":"2020-04-02T20:06:15","modified_gmt":"2020-04-03T01:06:15","slug":"april-2-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40666","title":{"rendered":"April 2, 2020"},"content":{"rendered":"<div align=\"center\"><a href=\"http:\/\/prefblog.com\/wp-content\/uploads\/2020\/04\/unicorn_200402.jpeg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/prefblog.com\/wp-content\/uploads\/2020\/04\/unicorn_200402-300x169.jpeg\" alt=\"Unicorn photo realistic\" width=\"400\" height=\"225\" class=\"size-medium wp-image-40667\" \/><\/a><\/div>\n<p>It was a <a href=\"https:\/\/www.theglobeandmail.com\/investing\/markets\/inside-the-market\/market-news\/article-premarket-world-stocks-drift-as-wary-investors-expect-grim-us-jobs\/\">good day for oil<\/a>:<\/p>\n<blockquote><p>Canada\u2019s main stock index rose on Thursday, led by energy shares as crude prices posted their biggest-one day gains on record on Thursday.<\/p>\n<p>The Toronto Stock Exchange\u2019s S&#038;P\/TSX Composite index finished unofficially up 221.39 points, or 1.72%, at 13,097.76.<\/p>\n<p>Nine of the index\u2019s 11 major sectors were higher, led by the energy sector, which climbed 9.3%.<br \/><b>&#8230;<\/b><br \/>Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil.<\/p>\n<p>Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal.<br \/><b>&#8230;<\/b><br \/>Brent soared as much as 47% during the session, its highest intraday percentage gain ever. WTI jumped as much as 35%, its second highest ever, after an intraday gain of 36% on March 19.<\/p>\n<p>Oil prices pulled back from those highs as traders questioned whether Russia and Saudi Arabia could actually agree on such a big production cut.<\/p>\n<p>A senior administration official told Reuters the United States does not know formal details of Saudi Arabian and Russian plans to reduce oil supply yet and will not ask U.S. domestic oil producers to chip in with their own cuts.<\/p><\/blockquote>\n<p>An article in the Globe is titled <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-why-canadas-banks-have-no-plans-to-suspend-dividends-despite-a-global\/\">Why Canada\u2019s banks have no plans to suspend dividends despite a global trend of cuts<\/a> which has been a <a href=\"http:\/\/prefblog.com\/?p=40620#comment-195560\">hot topic lately<\/a>:<\/p>\n<blockquote><p>Canadian bank CEOs insist they will keep paying dividends, even as banks around the world have axed payouts under pressure from regulators to preserve capital within the banking system.<br \/><b>&#8230;<\/b><br \/>On Wednesday, the United Kingdom\u2019s largest banks bowed to pressure from Britain\u2019s financial regulator and suspended dividend payments. Several large European Banks, including Italy\u2019s UniCredit and Dutch bank ING Group have also halted after a request from the European Banking Authority, and Mexico\u2019s financial regulator followed suit on Thursday, saying that \u201cit\u2019s impossible to estimate how deep and how long the economic effects of the pandemic will be.\u201d<\/p>\n<p>Canada\u2019s Office of the Superintendent of Financial Institutions, has told domestic banks not to increase dividends or buy back shares, but has made no effort to reduce payouts. And so far, bank executives are telling investors not to worry.<br \/><b>&#8230;<\/b><br \/>Banks are facing significant pressure from an anticipated spike in loan losses in the long run, as well as widespread demand from companies to draw down funds on credit lines immediately. But bankers and regulators are keenly aware that bank stocks are widely held by millions of Canadians, some of whom depend on them as retirement income. Some worry that cutting off dividends could worsen the economic hardship from the crisis.<\/p>\n<p>\u201cAbout 77 [per cent] to 80 per cent of our shareholders are Canadian, either institutional or retail, so the construct of our shareholder base is very different than would be a European bank,\u201d said Bank of Nova Scotia CEO Brian Porter on Tuesday. Mr. Porter and Bank of Montreal CEO Darryl White both said they have no plans to slash their banks\u2019 dividends.<br \/><b>&#8230;<\/b><br \/>And Canadian banks are in a different position politically, after some British banks needed government bailouts in the last crisis, said Laurence Booth, professor of finance at the University of Toronto\u2019s Rotman School of Management.<\/p>\n<p>\u201cThe Canadian banks do not have the bad reputation that the European and the U.K. banks have got, so it\u2019s not like the government can lean on them and say, \u2018Look, we\u2019ve bailed you out, you\u2019re bad guys, do what we say, you\u2019ve got to rebuild your reputation,'&#8221; Mr. Booth said. \u201cSo that moral suasion component is missing in Canada.\u201d<\/p><\/blockquote>\n<p>For what it&#8217;s worth, here was my response to a client inquiry:<\/p>\n<blockquote><p>I don&#8217;t think a governmentally requested suspension of bank dividends is in the cards.<\/p>\n<p>Firstly, I don&#8217;t really see a good reason for it.<\/p>\n<p>Secondly, bank stocks are the bedrock of a great many retirement portfolios and conniving at a suspension of the income would bring the government a great deal of grief.<\/p>\n<p>Thirdly, the TSX\/S&#038;P index is about 32% Financials (see <a href=\"https:\/\/ca.spindices.com\/indices\/equity\/sp-tsx-composite-index\">LINK<\/a> ) compared to about 20% for the FTSE (see <a href=\"https:\/\/siblisresearch.com\/data\/ftse-100-sector-weights\/\">LINK<\/a> ), a paltry 1.6% (!) in NZ, and 9.4% banks in Europe (with an additional 5.9% in insurance; see <a href=\"https:\/\/www.stoxx.com\/document\/Bookmarks\/CurrentFactsheets\/SXXGR.pdf\">LINK<\/a> ). You have probably read some of my rants about the harmful effects on Canada of having such a bloated financial sector &#8230; there&#8217;s a global comparison for you! And in this instance, bank dividends are &#8216;too big to fail&#8217;!<\/p>\n<p>I&#8217;m not going to say it won&#8217;t ever happen. But I will say that we are not even close to the point where the possibility of mass suspension needs to be taken seriously.<\/p><\/blockquote>\n<p>I forgot to give him the <a href=\"https:\/\/us.spindices.com\/indices\/equity\/sp-nzx-50-index\">link for the New Zealand data<\/a>; such is life. I believe that in New Zealand they settle payments with sacks of wool and quarts of milk (&#8220;That&#8217;ll be three sacks and two quarts, ma&#8217;am&#8221;), but I may be wrong on that.<\/p>\n<p>TXPR <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=txpr\">closed at 463.03<\/a>, up 1.07% on the day. Volume today was 3.26-million, low in the context of the past thirty days but highest since <a href=\"http:\/\/prefblog.com\/?p=40624\">March 26<\/a>.<\/p>\n<p>CPD <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=cpd\">closed at 9.21<\/a>, up 2.22% on the day. Volume was 93,827, second-lowest of the past 30 trading days and only slightly more than the low set on <a href=\"http:\/\/prefblog.com\/?p=40657\">April 1<\/a>.<\/p>\n<p>ZPR <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=zpr\">closed at 7.25<\/a>, up 2.84% on the day. Volume of 364,785 was fourth-lowest of the past 30 trading days.<\/p>\n<p>Five-year Canada yields were <a href=\"https:\/\/www.investing.com\/rates-bonds\/canada-5-year-bond-yield-historical-data\">up 4bp to 0.58%<\/a> today.<\/p>\n<table border='1'>\n<tr>\n<td colspan='8'><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>1.1996 %<\/td>\n<td>1,361.8<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>1.1996 %<\/td>\n<td>2,498.8<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>5.65 %<\/td>\n<td>5.69 %<\/td>\n<td>46,488<\/td>\n<td>14.41<\/td>\n<td>4<\/td>\n<td>1.1996 %<\/td>\n<td>1,440.1<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.4902 %<\/td>\n<td>3,122.3<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>5.32 %<\/td>\n<td>7.34 %<\/td>\n<td>84,521<\/td>\n<td>3.95<\/td>\n<td>7<\/td>\n<td>0.4902 %<\/td>\n<td>3,728.7<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.4902 %<\/td>\n<td>2,909.3<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>1.1795 %<\/td>\n<td>2,547.6<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>6.54 %<\/td>\n<td>6.87 %<\/td>\n<td>92,739<\/td>\n<td>12.72<\/td>\n<td>35<\/td>\n<td>1.1795 %<\/td>\n<td>2,732.6<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>7.25 %<\/td>\n<td>6.29 %<\/td>\n<td>204,087<\/td>\n<td>13.08<\/td>\n<td>83<\/td>\n<td>1.5563 %<\/td>\n<td>1,555.0<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>6.28 %<\/td>\n<td>6.94 %<\/td>\n<td>104,102<\/td>\n<td>12.65<\/td>\n<td>27<\/td>\n<td>0.7935 %<\/td>\n<td>2,693.7<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>3.24 %<\/td>\n<td>1.26 %<\/td>\n<td>33,555<\/td>\n<td>1.80<\/td>\n<td>4<\/td>\n<td>0.8507 %<\/td>\n<td>1,650.4<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Prem<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>1.5563 %<\/td>\n<td>2,150.6<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Bank Non<\/td>\n<td>1.99 %<\/td>\n<td>5.22 %<\/td>\n<td>120,569<\/td>\n<td>1.77<\/td>\n<td>3<\/td>\n<td>0.7478 %<\/td>\n<td>2,666.5<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>7.66 %<\/td>\n<td>6.70 %<\/td>\n<td>115,039<\/td>\n<td>12.68<\/td>\n<td>22<\/td>\n<td>1.5349 %<\/td>\n<td>1,537.7<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>-3.77 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.01<br \/>\nEvaluated at bid price : 13.01<br \/>\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>-3.70 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.00<br \/>\nEvaluated at bid price : 13.00<br \/>\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.70 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 9.00<br \/>\nEvaluated at bid price : 9.00<br \/>\nBid-YTW : 6.79 %<\/td>\n<\/tr>\n<tr>\n<td>BIK.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.50 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 21.06<br \/>\nEvaluated at bid price : 21.06<br \/>\nBid-YTW : 7.01 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.Z<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-2.33 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 21.00<br \/>\nEvaluated at bid price : 21.00<br \/>\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.17 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 9.01<br \/>\nEvaluated at bid price : 9.01<br \/>\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.12 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 22.22<br \/>\nEvaluated at bid price : 22.61<br \/>\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.97 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.45<br \/>\nEvaluated at bid price : 17.45<br \/>\nBid-YTW : 7.23 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.X<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.90 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.70<br \/>\nEvaluated at bid price : 20.70<br \/>\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.83 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.80<br \/>\nEvaluated at bid price : 18.80<br \/>\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n<tr>\n<td>W.PR.K<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.75 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.70<br \/>\nEvaluated at bid price : 19.70<br \/>\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.74 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.75<br \/>\nEvaluated at bid price : 19.75<br \/>\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.23 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.85<br \/>\nEvaluated at bid price : 12.85<br \/>\nBid-YTW : 6.69 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.21 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.10<br \/>\nEvaluated at bid price : 13.10<br \/>\nBid-YTW : 6.72 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.16 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.51<br \/>\nEvaluated at bid price : 20.51<br \/>\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.Z<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.73<br \/>\nEvaluated at bid price : 13.73<br \/>\nBid-YTW : 6.86 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.80<br \/>\nEvaluated at bid price : 18.80<br \/>\nBid-YTW : 7.18 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.50<br \/>\nEvaluated at bid price : 19.50<br \/>\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.B<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.01 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.93<br \/>\nEvaluated at bid price : 17.93<br \/>\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n<tr>\n<td>ELF.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.43<br \/>\nEvaluated at bid price : 17.43<br \/>\nBid-YTW : 6.85 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.H<\/td>\n<td>FloatingReset<\/td>\n<td>1.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 7.68<br \/>\nEvaluated at bid price : 7.68<br \/>\nBid-YTW : 4.88 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.Q<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.39<br \/>\nEvaluated at bid price : 13.39<br \/>\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.A<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 9.50<br \/>\nEvaluated at bid price : 9.50<br \/>\nBid-YTW : 6.59 %<\/td>\n<\/tr>\n<tr>\n<td>ELF.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.07 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.92<br \/>\nEvaluated at bid price : 19.92<br \/>\nBid-YTW : 6.94 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.G<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.10 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.80<br \/>\nBid-YTW : 7.68 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.17 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 22.13<br \/>\nEvaluated at bid price : 22.41<br \/>\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.L<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.18 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.10<br \/>\nEvaluated at bid price : 17.10<br \/>\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.B<\/td>\n<td>Floater<\/td>\n<td>1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 7.59<br \/>\nEvaluated at bid price : 7.59<br \/>\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 16.80<br \/>\nEvaluated at bid price : 16.80<br \/>\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.24 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.66<br \/>\nBid-YTW : 7.98 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.M<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.26 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.90<br \/>\nEvaluated at bid price : 20.90<br \/>\nBid-YTW : 7.00 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.34 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 14.40<br \/>\nEvaluated at bid price : 14.40<br \/>\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.43 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.61<br \/>\nEvaluated at bid price : 20.61<br \/>\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.46 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.01<br \/>\nEvaluated at bid price : 18.01<br \/>\nBid-YTW : 6.23 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.48 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.77<br \/>\nEvaluated at bid price : 17.77<br \/>\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n<tr>\n<td>EIT.PR.A<\/td>\n<td>SplitShare<\/td>\n<td>1.50 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Soft Maturity<br \/>\nMaturity Date\t: 2024-03-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.00<br \/>\nBid-YTW : 7.28 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.55 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.05<br \/>\nEvaluated at bid price : 15.05<br \/>\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.55 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.01<br \/>\nEvaluated at bid price : 17.01<br \/>\nBid-YTW : 7.57 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.60 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.07<br \/>\nBid-YTW : 7.13 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.61 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 10.75<br \/>\nEvaluated at bid price : 10.75<br \/>\nBid-YTW : 6.76 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.64 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.51<br \/>\nEvaluated at bid price : 15.51<br \/>\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.T<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.64 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.60<br \/>\nEvaluated at bid price : 18.60<br \/>\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.75 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.06<br \/>\nEvaluated at bid price : 18.06<br \/>\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.76 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.17<br \/>\nEvaluated at bid price : 12.17<br \/>\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.76 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.02<br \/>\nEvaluated at bid price : 15.02<br \/>\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.H<\/td>\n<td>SplitShare<\/td>\n<td>1.76 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2027-02-28<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.50<br \/>\nBid-YTW : 6.62 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.77 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 11.50<br \/>\nEvaluated at bid price : 11.50<br \/>\nBid-YTW : 6.90 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.R<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.86 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.27<br \/>\nEvaluated at bid price : 20.27<br \/>\nBid-YTW : 6.93 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.Z<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.87 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.05<br \/>\nEvaluated at bid price : 19.05<br \/>\nBid-YTW : 6.91 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.92 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 14.32<br \/>\nEvaluated at bid price : 14.32<br \/>\nBid-YTW : 6.62 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.Q<\/td>\n<td>FixedReset Bank Non<\/td>\n<td>1.94 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.65<br \/>\nBid-YTW : 7.50 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.95 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.56<br \/>\nEvaluated at bid price : 12.56<br \/>\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.99 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.50<br \/>\nEvaluated at bid price : 19.50<br \/>\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.J<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.26<br \/>\nEvaluated at bid price : 13.26<br \/>\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.D<\/td>\n<td>Deemed-Retractible<\/td>\n<td>2.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.21<br \/>\nEvaluated at bid price : 17.21<br \/>\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.03 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.61<br \/>\nEvaluated at bid price : 15.61<br \/>\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.N<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.01<br \/>\nEvaluated at bid price : 12.01<br \/>\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.S<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.86<br \/>\nEvaluated at bid price : 17.86<br \/>\nBid-YTW : 6.87 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.38<br \/>\nEvaluated at bid price : 12.38<br \/>\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.K<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.12 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.30<br \/>\nEvaluated at bid price : 18.30<br \/>\nBid-YTW : 6.91 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 14.40<br \/>\nEvaluated at bid price : 14.40<br \/>\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.H<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.23 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.75<br \/>\nEvaluated at bid price : 13.75<br \/>\nBid-YTW : 6.95 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.25 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.45<br \/>\nEvaluated at bid price : 20.45<br \/>\nBid-YTW : 6.87 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.I<\/td>\n<td>Deemed-Retractible<\/td>\n<td>2.25 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 16.36<br \/>\nEvaluated at bid price : 16.36<br \/>\nBid-YTW : 6.94 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.26 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.40<br \/>\nEvaluated at bid price : 15.40<br \/>\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.64<br \/>\nEvaluated at bid price : 19.64<br \/>\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.H<\/td>\n<td>Deemed-Retractible<\/td>\n<td>2.35 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.26<br \/>\nEvaluated at bid price : 18.26<br \/>\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n<tr>\n<td>IAF.PR.I<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.38 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.35<br \/>\nEvaluated at bid price : 13.35<br \/>\nBid-YTW : 6.81 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.Q<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.49 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.35<br \/>\nEvaluated at bid price : 12.35<br \/>\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.E<\/td>\n<td>Deemed-Retractible<\/td>\n<td>2.50 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.50<br \/>\nEvaluated at bid price : 20.50<br \/>\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.K<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.53 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.17<br \/>\nEvaluated at bid price : 12.17<br \/>\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.54 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.40<br \/>\nEvaluated at bid price : 19.40<br \/>\nBid-YTW : 6.91 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.61 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.57<br \/>\nEvaluated at bid price : 12.57<br \/>\nBid-YTW : 6.59 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.68 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.04<br \/>\nEvaluated at bid price : 13.04<br \/>\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.O<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.71 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.14<br \/>\nEvaluated at bid price : 12.14<br \/>\nBid-YTW : 6.44 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.F<\/td>\n<td>FloatingReset<\/td>\n<td>2.74 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 9.00<br \/>\nEvaluated at bid price : 9.00<br \/>\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<tr>\n<td>EML.PR.A<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.90 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.20<br \/>\nEvaluated at bid price : 20.20<br \/>\nBid-YTW : 6.93 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.96 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.90<br \/>\nEvaluated at bid price : 13.90<br \/>\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.51<br \/>\nEvaluated at bid price : 13.51<br \/>\nBid-YTW : 6.66 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.Z<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.18<br \/>\nEvaluated at bid price : 13.18<br \/>\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.80<br \/>\nEvaluated at bid price : 15.80<br \/>\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.17 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.00<br \/>\nEvaluated at bid price : 13.00<br \/>\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>3.24 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 18.50<br \/>\nEvaluated at bid price : 18.50<br \/>\nBid-YTW : 6.17 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.R<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>3.25 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 16.52<br \/>\nEvaluated at bid price : 16.52<br \/>\nBid-YTW : 6.82 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.25 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.00<br \/>\nEvaluated at bid price : 20.00<br \/>\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 21.78<br \/>\nEvaluated at bid price : 22.26<br \/>\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.K<\/td>\n<td>Floater<\/td>\n<td>3.31 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 7.50<br \/>\nEvaluated at bid price : 7.50<br \/>\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.33 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.02<br \/>\nEvaluated at bid price : 13.02<br \/>\nBid-YTW : 6.42 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.E<\/td>\n<td>Deemed-Retractible<\/td>\n<td>3.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.10<br \/>\nEvaluated at bid price : 17.10<br \/>\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.54 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.16<br \/>\nEvaluated at bid price : 13.16<br \/>\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.58 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.32<br \/>\nEvaluated at bid price : 13.32<br \/>\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.K<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.59 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.02<br \/>\nEvaluated at bid price : 15.02<br \/>\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.83 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.30<br \/>\nEvaluated at bid price : 13.30<br \/>\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.90 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.50<br \/>\nEvaluated at bid price : 20.50<br \/>\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.I<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>3.92 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.25<br \/>\nEvaluated at bid price : 13.25<br \/>\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.K<\/td>\n<td>FixedReset Disc<\/td>\n<td>4.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.28<br \/>\nEvaluated at bid price : 20.28<br \/>\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>4.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.30<br \/>\nEvaluated at bid price : 15.30<br \/>\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>4.56 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.62<br \/>\nEvaluated at bid price : 12.62<br \/>\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>4.72 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.31<br \/>\nEvaluated at bid price : 13.31<br \/>\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.W<\/td>\n<td>FixedReset Disc<\/td>\n<td>4.73 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.84<br \/>\nEvaluated at bid price : 12.84<br \/>\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>4.79 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 14.21<br \/>\nEvaluated at bid price : 14.21<br \/>\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>5.07 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.60<br \/>\nEvaluated at bid price : 17.60<br \/>\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>5.95 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 11.75<br \/>\nEvaluated at bid price : 11.75<br \/>\nBid-YTW : 6.82 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>5.98 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.42<br \/>\nEvaluated at bid price : 15.42<br \/>\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>6.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.26<br \/>\nEvaluated at bid price : 13.26<br \/>\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>6.49 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.25<br \/>\nEvaluated at bid price : 15.25<br \/>\nBid-YTW : 6.61 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>6.83 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 10.95<br \/>\nEvaluated at bid price : 10.95<br \/>\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>9.30 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 14.10<br \/>\nEvaluated at bid price : 14.10<br \/>\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>10.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 7.70<br \/>\nEvaluated at bid price : 7.70<br \/>\nBid-YTW : 6.05 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>11.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 21.93<br \/>\nEvaluated at bid price : 22.21<br \/>\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>18.85 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 10.72<br \/>\nEvaluated at bid price : 10.72<br \/>\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='4'><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.F<\/td>\n<td>FloatingReset<\/td>\n<td>430,808<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 9.00<br \/>\nEvaluated at bid price : 9.00<br \/>\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.Z<\/td>\n<td>Perpetual-Discount<\/td>\n<td>162,500<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 19.05<br \/>\nEvaluated at bid price : 19.05<br \/>\nBid-YTW : 6.91 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>86,250<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 12.56<br \/>\nEvaluated at bid price : 12.56<br \/>\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>82,316<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.32<br \/>\nEvaluated at bid price : 13.32<br \/>\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>70,000<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 5.68<br \/>\nEvaluated at bid price : 5.68<br \/>\nBid-YTW : 10.29 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>57,409<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 15.25<br \/>\nEvaluated at bid price : 15.25<br \/>\nBid-YTW : 6.61 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 52 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border='1'>\n<tr>\n<td colspan='3'><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 13.01 &#8211; 14.30<br \/>\nSpot Rate  :  1.2900<br \/>\nAverage  :  0.9451<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 13.01<br \/>\nEvaluated at bid price : 13.01<br \/>\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 21.50 &#8211; 22.77<br \/>\nSpot Rate  :  1.2700<br \/>\nAverage  :  0.9911<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 21.50<br \/>\nEvaluated at bid price : 21.50<br \/>\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.E<\/td>\n<td>SplitShare<\/td>\n<td>Quote: 23.50 &#8211; 24.50<br \/>\nSpot Rate  :  1.0000<br \/>\nAverage  :  0.7858<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-10-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.50<br \/>\nBid-YTW : 8.36 %<\/td>\n<\/tr>\n<tr>\n<td>EIT.PR.B<\/td>\n<td>SplitShare<\/td>\n<td>Quote: 22.75 &#8211; 24.75<br \/>\nSpot Rate  :  2.0000<br \/>\nAverage  :  1.8122<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Soft Maturity<br \/>\nMaturity Date\t: 2025-03-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.75<br \/>\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 20.80 &#8211; 21.50<br \/>\nSpot Rate  :  0.7000<br \/>\nAverage  :  0.5352<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 20.80<br \/>\nEvaluated at bid price : 20.80<br \/>\nBid-YTW : 6.01 %<\/td>\n<\/tr>\n<tr>\n<td>CIU.PR.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 17.80 &#8211; 19.16<br \/>\nSpot Rate  :  1.3600<br \/>\nAverage  :  1.2024<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-02<br \/>\nMaturity Price  : 17.80<br \/>\nEvaluated at bid price : 17.80<br \/>\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>It was a good day for oil: Canada\u2019s main stock index rose on Thursday, led by energy shares as crude prices posted their biggest-one day gains on record on Thursday. The Toronto Stock Exchange\u2019s S&#038;P\/TSX &hellip;<\/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-40666","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40666","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=40666"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40666\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}