{"id":40730,"date":"2020-04-13T22:02:49","date_gmt":"2020-04-14T03:02:49","guid":{"rendered":"http:\/\/prefblog.com\/?p=40730"},"modified":"2020-04-13T22:02:49","modified_gmt":"2020-04-14T03:02:49","slug":"april-13-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40730","title":{"rendered":"April 13, 2020"},"content":{"rendered":"

Amidst all the gloom, it was interesting to see the details of a recent Scotia covered bond issue<\/a>:<\/p>\n

Bank of Nova Scotia (BNS) became the first bank outside Europe to issue a deeply negative yielding covered bond in a good size on Wednesday. The transaction provided a beacon for other issuers and was perfectly timed to benefit from a window of market stability between Monday\u2019s and Thursday\u2019s shocking volatility.<\/p><\/blockquote>\n

It’s Series CBL26, with details available on the Scotiabank covered bond page<\/a>. The term sheet<\/a> specifies:<\/p>\n

Specified Currency or Currencies: \u20ac, EUR or EURO
…<\/b>
Issue Price: 101.198% of the Aggregate Nominal Amount
…<\/b>
Final Maturity Date: 18 March 2025
…<\/b>
Rate(s) of Interest: 0.01% per annum payable annually in arrears on each Interest Payment Date
…<\/b>
Indication of yield: -0.228% per annum<\/p><\/blockquote>\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-4.2670 %<\/td>\n1,408.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-4.2670 %<\/td>\n2,584.3<\/td>\n<\/tr>\n
Floater<\/td>\n5.46 %<\/td>\n5.67 %<\/td>\n42,377<\/td>\n14.41<\/td>\n4<\/td>\n-4.2670 %<\/td>\n1,489.4<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2090 %<\/td>\n3,262.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.09 %<\/td>\n6.28 %<\/td>\n86,727<\/td>\n3.95<\/td>\n7<\/td>\n-0.2090 %<\/td>\n3,895.9<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2090 %<\/td>\n3,039.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2689 %<\/td>\n2,756.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.08 %<\/td>\n6.32 %<\/td>\n90,181<\/td>\n13.47<\/td>\n35<\/td>\n0.2689 %<\/td>\n2,956.6<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n6.67 %<\/td>\n5.75 %<\/td>\n199,915<\/td>\n13.99<\/td>\n83<\/td>\n0.1867 %<\/td>\n1,699.9<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.81 %<\/td>\n6.18 %<\/td>\n102,168<\/td>\n13.46<\/td>\n27<\/td>\n-0.3886 %<\/td>\n2,907.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.22 %<\/td>\n4.78 %<\/td>\n31,613<\/td>\n14.44<\/td>\n4<\/td>\n-1.2768 %<\/td>\n1,694.6<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1867 %<\/td>\n2,350.9<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.97 %<\/td>\n4.88 %<\/td>\n113,178<\/td>\n1.75<\/td>\n3<\/td>\n-0.4003 %<\/td>\n2,704.0<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n7.07 %<\/td>\n6.13 %<\/td>\n125,076<\/td>\n13.43<\/td>\n22<\/td>\n0.7310 %<\/td>\n1,680.3<\/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\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
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n-11.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 12.45
\nEvaluated at bid price : 12.45
\nBid-YTW : 7.28 %<\/td>\n<\/tr>\n
TRP.PR.H<\/td>\nFloatingReset<\/td>\n-10.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 7.72
\nEvaluated at bid price : 7.72
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-6.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 7.52
\nEvaluated at bid price : 7.52
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
HSE.PR.E<\/td>\nFixedReset Disc<\/td>\n-5.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 9.25
\nEvaluated at bid price : 9.25
\nBid-YTW : 11.99 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n-4.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 7.56
\nEvaluated at bid price : 7.56
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-4.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 7.63
\nEvaluated at bid price : 7.63
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n-4.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.60
\nEvaluated at bid price : 14.60
\nBid-YTW : 6.47 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-3.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.25
\nEvaluated at bid price : 8.25
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\n-3.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-3.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.76
\nEvaluated at bid price : 8.76
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
BIP.PR.E<\/td>\nFixedReset Disc<\/td>\n-3.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.40
\nEvaluated at bid price : 19.40
\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-2.87 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.80
\nEvaluated at bid price : 8.80
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-2.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 11.60
\nEvaluated at bid price : 11.60
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.60
\nEvaluated at bid price : 8.60
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset Disc<\/td>\n-2.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 6.48 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-2.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 10.24
\nEvaluated at bid price : 10.24
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n-2.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 20.01
\nEvaluated at bid price : 20.01
\nBid-YTW : 6.44 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset Disc<\/td>\n-2.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.65
\nEvaluated at bid price : 8.65
\nBid-YTW : 12.08 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n-2.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.70
\nEvaluated at bid price : 8.70
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n
TRP.PR.K<\/td>\nFixedReset Disc<\/td>\n-2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.05
\nEvaluated at bid price : 21.05
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n-2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 18.41
\nEvaluated at bid price : 18.41
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.37
\nEvaluated at bid price : 14.37
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n-1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.01
\nEvaluated at bid price : 13.01
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Disc<\/td>\n-1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.25
\nEvaluated at bid price : 14.25
\nBid-YTW : 6.17 %<\/td>\n<\/tr>\n
EIT.PR.B<\/td>\nSplitShare<\/td>\n-1.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2025-03-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.50
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n-1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.05
\nEvaluated at bid price : 13.05
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.31
\nEvaluated at bid price : 13.31
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
RY.PR.W<\/td>\nPerpetual-Discount<\/td>\n-1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.98
\nEvaluated at bid price : 22.21
\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\n-1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 18.65
\nEvaluated at bid price : 18.65
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n
EML.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.75
\nEvaluated at bid price : 22.20
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 18.52
\nEvaluated at bid price : 18.52
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
NA.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 22.34
\nEvaluated at bid price : 22.75
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.65
\nEvaluated at bid price : 19.65
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
IAF.PR.B<\/td>\nDeemed-Retractible<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.06
\nEvaluated at bid price : 19.06
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset Bank Non<\/td>\n-1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.75
\nBid-YTW : 4.88 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.00
\nEvaluated at bid price : 14.00
\nBid-YTW : 5.99 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.75
\nEvaluated at bid price : 22.07
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.75
\nEvaluated at bid price : 14.75
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.70
\nEvaluated at bid price : 8.70
\nBid-YTW : 4.78 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.53
\nEvaluated at bid price : 21.79
\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.15
\nEvaluated at bid price : 14.15
\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n
TD.PF.G<\/td>\nFixedReset Disc<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 22.73
\nEvaluated at bid price : 23.26
\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 20.98
\nEvaluated at bid price : 20.98
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.58
\nEvaluated at bid price : 19.58
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.87
\nEvaluated at bid price : 22.11
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 15.48
\nEvaluated at bid price : 15.48
\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 9.64
\nEvaluated at bid price : 9.64
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
TRP.PR.J<\/td>\nFixedReset Disc<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 23.44
\nEvaluated at bid price : 23.95
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.80
\nEvaluated at bid price : 13.80
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.39
\nEvaluated at bid price : 19.39
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.55
\nEvaluated at bid price : 13.55
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.25
\nEvaluated at bid price : 19.25
\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n
IAF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.80
\nEvaluated at bid price : 13.80
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\n1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.54
\nEvaluated at bid price : 13.54
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n
ELF.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.63
\nEvaluated at bid price : 21.95
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n
HSE.PR.C<\/td>\nFixedReset Disc<\/td>\n1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 9.18
\nEvaluated at bid price : 9.18
\nBid-YTW : 11.39 %<\/td>\n<\/tr>\n
BIP.PR.C<\/td>\nFixedReset Disc<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.41
\nEvaluated at bid price : 21.41
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.25
\nEvaluated at bid price : 14.25
\nBid-YTW : 7.35 %<\/td>\n<\/tr>\n
BAM.PF.I<\/td>\nFixedReset Disc<\/td>\n1.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 22.09
\nEvaluated at bid price : 22.38
\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n
BAM.PF.H<\/td>\nFixedReset Disc<\/td>\n1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 22.71
\nEvaluated at bid price : 23.35
\nBid-YTW : 5.36 %<\/td>\n<\/tr>\n
W.PR.M<\/td>\nFixedReset Disc<\/td>\n1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 22.59
\nEvaluated at bid price : 23.00
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 20.25
\nEvaluated at bid price : 20.25
\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n
MFC.PR.O<\/td>\nFixedReset Ins Non<\/td>\n2.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 23.51
\nEvaluated at bid price : 24.00
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
NA.PR.X<\/td>\nFixedReset Disc<\/td>\n2.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 23.54
\nEvaluated at bid price : 24.05
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n2.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 11.50
\nEvaluated at bid price : 11.50
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
MFC.PR.R<\/td>\nFixedReset Ins Non<\/td>\n2.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n3.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 15.41
\nEvaluated at bid price : 15.41
\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n3.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n3.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 8.57
\nEvaluated at bid price : 8.57
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n3.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.30
\nEvaluated at bid price : 14.30
\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n3.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 12.93
\nEvaluated at bid price : 12.93
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n4.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 16.85
\nEvaluated at bid price : 16.85
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset Disc<\/td>\n4.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 5.91
\nEvaluated at bid price : 5.91
\nBid-YTW : 9.96 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n5.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.79
\nEvaluated at bid price : 14.79
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n5.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.29
\nEvaluated at bid price : 13.29
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n7.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 12.90
\nEvaluated at bid price : 12.90
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n20.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.46
\nEvaluated at bid price : 14.46
\nBid-YTW : 5.65 %<\/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
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n312,511<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Disc<\/td>\n297,922<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n103,846<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 16.71
\nEvaluated at bid price : 16.71
\nBid-YTW : 5.29 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n79,417<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 13.76
\nEvaluated at bid price : 13.76
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
RY.PR.Q<\/td>\nFixedReset Disc<\/td>\n55,839<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 23.33
\nEvaluated at bid price : 23.85
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n45,799<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 14.30
\nEvaluated at bid price : 14.30
\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n
There were 32 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.M<\/td>\nFixedReset Disc<\/td>\nQuote: 19.65 – 24.83
\nSpot Rate : 5.1800
\nAverage : 2.7902<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 19.65
\nEvaluated at bid price : 19.65
\nBid-YTW : 5.61 %<\/td>\n<\/tr>\n

BAM.PF.A<\/td>\nFixedReset Disc<\/td>\nQuote: 15.75 – 21.00
\nSpot Rate : 5.2500
\nAverage : 3.4390<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 15.75
\nEvaluated at bid price : 15.75
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n

TRP.PR.G<\/td>\nFixedReset Disc<\/td>\nQuote: 12.45 – 15.29
\nSpot Rate : 2.8400
\nAverage : 2.1144<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 12.45
\nEvaluated at bid price : 12.45
\nBid-YTW : 7.28 %<\/td>\n<\/tr>\n

TD.PF.E<\/td>\nFixedReset Disc<\/td>\nQuote: 15.35 – 17.30
\nSpot Rate : 1.9500
\nAverage : 1.4169<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 15.35
\nEvaluated at bid price : 15.35
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n

BAM.PF.I<\/td>\nFixedReset Disc<\/td>\nQuote: 22.38 – 23.84
\nSpot Rate : 1.4600
\nAverage : 0.9772<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 22.09
\nEvaluated at bid price : 22.38
\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n

TRP.PR.K<\/td>\nFixedReset Disc<\/td>\nQuote: 21.05 – 22.24
\nSpot Rate : 1.1900
\nAverage : 0.8757<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-04-13
\nMaturity Price : 21.05
\nEvaluated at bid price : 21.05
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Amidst all the gloom, it was interesting to see the details of a recent Scotia covered bond issue: Bank of Nova Scotia (BNS) became the first bank outside Europe to issue a deeply negative yielding …<\/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-40730","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40730","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=40730"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40730\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}