{"id":40751,"date":"2020-04-18T00:23:52","date_gmt":"2020-04-18T05:23:52","guid":{"rendered":"http:\/\/prefblog.com\/?p=40751"},"modified":"2020-04-18T00:23:52","modified_gmt":"2020-04-18T05:23:52","slug":"april-17-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40751","title":{"rendered":"April 17, 2020"},"content":{"rendered":"<div align=\"center\"><a href=\"http:\/\/prefblog.com\/wp-content\/uploads\/2020\/04\/rainbow_200417.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/prefblog.com\/wp-content\/uploads\/2020\/04\/rainbow_200417-300x200.jpg\" alt=\"rainbow_200417\" width=\"400\" height=\"266\" class=\"alignnone size-medium wp-image-40753\" \/><\/a><br \/><i>Click for Big<\/i><\/div>\n<p>TXPR <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=txpr\">closed at 501.84<\/a>, up 0.97% on the day, which was about 172bp higher than the day&#8217;s low, with a late recovery commencing at 3:30 that put even the last two day&#8217;s late rallies to shame. Volume today was superb at 7.21-million, behind only <a href=\"http:\/\/prefblog.com\/?p=40530\">March 18<\/a> in the past thirty days.<\/p>\n<p>CPD <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=cpd\">closed at 9.88<\/a>, down 0.30% on the day. Volume was 147,035, near the median of the past 30 trading days.<\/p>\n<p>ZPR <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=zpr\">closed at 7.73<\/a>, up 0.91% on the day. Volume of 138,961 was the lowest of the past 30 trading days, behind even <a href=\"http:\/\/prefblog.com\/?p=40739\">April 15<\/a>.<\/p>\n<p>Five-year Canada yields were <a href=\"https:\/\/www.investing.com\/rates-bonds\/canada-5-year-bond-yield-historical-data\">up 3bp to 0.46%<\/a> today.<\/p>\n<p>S&#038;P <a href=\"https:\/\/www.standardandpoors.com\/en_US\/web\/guest\/article\/-\/view\/type\/HTML\/id\/2414435\">downgraded First Quantum Minerals<\/a> one notch to CCC+:<\/p>\n<blockquote>\n<ul>\n<li>We see increased risks across Canada-headquartered copper miner First Quantum Minerals&#8217; (FQM&#8217;s) countries of operation, which could negatively affect production and operating costs.\n<li>Given our lower EBITDA forecast for 2020, we now expect a material deterioration in the company&#8217;s liquidity position and a covenant breach at the June testing date.\n<li>We are therefore lowering to &#8216;CCC+&#8217; from &#8216;B-&#8216; our long-term issuer credit rating on FQM and its senior unsecured bonds.\n<li>The stable outlook factors in our expectation that the company would be able to secure an amendment to its coming financial covenants testing in June 2020, as well as no further deterioration in production or copper prices beyond our current EBITDA forecast.<\/ul>\n<\/blockquote>\n<p>S&#038;P also <a href=\"https:\/\/www.standardandpoors.com\/en_US\/web\/guest\/article\/-\/view\/type\/HTML\/id\/2414798\">downgraded Ensign Drilling Inc.<\/a> four notches to CCC+:<\/p>\n<blockquote>\n<ul>\n<li>We expect Canada-based Ensign Drilling Inc.&#8217;s credit metrics to weaken materially due to significant cuts in capital budgets by exploration and production (E&#038;P) companies, driven by the substantial drop in crude oil prices.\n<li>Although we expect the company to generate positive free cash flows, limited availability on the credit facility and the potential for covenant breaches constrain the rating.\n<li>Accordingly, S&#038;P Global Ratings lowered its long-term issuer credit rating on Ensign and its issue-level rating on the company&#8217;s unsecured debt to &#8216;CCC+&#8217; from &#8216;BB-&#8216;.\n<li>The negative outlook incorporates our view that credit measures will remain weak over the next 12 months due to reduced drilling activity and that there is potential for liquidity to further deteriorate, if activity levels don&#8217;t recover.<\/ul>\n<\/blockquote>\n<p>OSFI released a statement titled <a href=\"https:\/\/www.osfi-bsif.gc.ca\/Eng\/osfi-bsif\/med\/Pages\/2020-04-17.aspx\">Statement from the Superintendent on Canadian bank capital and dividends<\/a>:<\/p>\n<blockquote><p>When there are periods of economic uncertainty or a downturn, releasing capital buffers is the first step in OSFI\u2019s contingency plan, as it enables banks to use the funds that had been set aside. To this end, on March 13, OSFI released 1.25 percentage points, which was about 55% of the Domestic Stability Buffer and at the same time, OSFI prohibited dividend increases and cancelled future share buybacks. OSFI will continue to monitor institutions\u2019 capital and liquidity levels and if conditions warrant, is prepared to release the remaining 1.0 percentage points of the buffer.<\/p>\n<p>OSFI has built other contingency measures into Canada\u2019s capital regime. Specifically, as banks move through capital layers, there are disbursement restrictions. For example, if sustaining a bank\u2019s capital level requires it to access funds that are in the Capital Conservation Buffer, the bank will be automatically required to restrict disbursements, including dividends and share buybacks. Restrictions for larger banks would apply earlier when its capital levels fall within the D-SIB surcharge threshold.<\/p>\n<p>OSFI has long signalled its expectations that banks use their capital buffer in the event of a downturn or period of economic uncertainty. For example in 2016 and 2017, I noted \u201c\u2026of course, a bank that is using up its capital needs to recapitalize. If this goes on long enough, or happens quickly enough, dramatic measures may be required. But for a bank that starts with capital well above its regulatory minimum, we all need to see the idea of using some of the bank\u2019s capital buffer as the normal first step in the process \u2026\u201d<\/p><\/blockquote>\n<p>Is this a sign they&#8217;re feeling a little bit of political pressure? Bank dividends have been a hot topic lately, as mentioned on <a href=\"http:\/\/prefblog.com\/?p=40715\">April 9<\/a> and <a href=\"http:\/\/prefblog.com\/?p=40666\">April 2<\/a>. For all that the implied reassurance may be welcome, this is a sign of an unhealthy economy: Canada&#8217;s financial system is grossly overweighted in banks and retirement portfolios reflect that in spades, given retirees need for income. Having all one&#8217;s eggs in one basket is not a good idea &#8211; I can only hope, rather forlornly, that the banks will be broken up once this idea becomes more acceptable in polite society. So we can expect a burst of bank hiring of ex-politicians in the near future!<\/p>\n<p>Meanwhile Mutual Funds that own bonds are now <a href=\"https:\/\/www.osc.gov.on.ca\/documents\/en\/Securities-Category8\/rule_20200417_81-504_notice-general-order-borrowing-limits-redemption-requests-mutual-funds.pdf\">allowed increased borrowing to fund redemptions<\/a>, if they&#8217;re having trouble selling bonds:<\/p>\n<blockquote><p>As a result of the Coronavirus pandemic (\u201cCOVID-19\u201d), the Ontario Securities Commission (the \u201cCommission\u201d) is providing to mutual funds temporary exemption from the borrowing limits set out in Ontario securities law, subject to terms and conditions, in order to accommodate requests for the redemption of mutual fund securities under securities legislation.<\/p>\n<p>Description of Order<\/p>\n<p>The order provides a temporary exemption to mutual funds that are subject to National Instrument 81-102 Investment Funds (\u201cNI 81-102\u201d), other than labour sponsored or venture capital funds, and which invest in fixed income securities from the borrowing limit imposed in subparagraph 2.6(1)(a)(i) of NI 81-102 for the period from April 17, 2020 to July 31, 2020 (the \u201cEffective Period\u201d), provided that the outstanding amount of all borrowings made by the mutual fund does not exceed 10 percent of its net asset value at the time of borrowing during the Effective Period.<\/p>\n<p>The relief provided above is subject to the following terms and conditions:<\/p>\n<p>\u2022 Any mutual fund relying on the order must use the temporary exemption from the borrowing limit only for the purpose of facilitating an orderly liquidation of fixed income securities to deal with the short-term dislocation in the fixed income securities market due to the COVID-19 pandemic, in order to accommodate requests for the redemption of securities of the mutual fund received during the period from April 17, 2020 to July 30, 2020.<br \/>\n<br \/><b>&#8230;<\/b><\/p><\/blockquote>\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>0.4998 %<\/td>\n<td>1,352.4<\/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>0.4998 %<\/td>\n<td>2,481.5<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>5.69 %<\/td>\n<td>5.92 %<\/td>\n<td>41,363<\/td>\n<td>14.03<\/td>\n<td>4<\/td>\n<td>0.4998 %<\/td>\n<td>1,430.1<\/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>0.1491 %<\/td>\n<td>3,279.1<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>5.06 %<\/td>\n<td>6.30 %<\/td>\n<td>81,219<\/td>\n<td>3.94<\/td>\n<td>7<\/td>\n<td>0.1491 %<\/td>\n<td>3,915.9<\/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>0.1491 %<\/td>\n<td>3,055.4<\/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>0.5421 %<\/td>\n<td>2,776.0<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>6.04 %<\/td>\n<td>6.28 %<\/td>\n<td>91,642<\/td>\n<td>13.51<\/td>\n<td>35<\/td>\n<td>0.5421 %<\/td>\n<td>2,977.6<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>6.79 %<\/td>\n<td>5.72 %<\/td>\n<td>208,878<\/td>\n<td>13.99<\/td>\n<td>83<\/td>\n<td>-0.4354 %<\/td>\n<td>1,668.6<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.80 %<\/td>\n<td>6.16 %<\/td>\n<td>102,288<\/td>\n<td>13.49<\/td>\n<td>27<\/td>\n<td>0.3834 %<\/td>\n<td>2,916.1<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>3.44 %<\/td>\n<td>0.77 %<\/td>\n<td>28,598<\/td>\n<td>0.10<\/td>\n<td>4<\/td>\n<td>-2.9187 %<\/td>\n<td>1,645.8<\/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>-0.4354 %<\/td>\n<td>2,307.6<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Bank Non<\/td>\n<td>1.97 %<\/td>\n<td>4.50 %<\/td>\n<td>117,325<\/td>\n<td>1.74<\/td>\n<td>3<\/td>\n<td>0.0693 %<\/td>\n<td>2,704.0<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>7.30 %<\/td>\n<td>6.09 %<\/td>\n<td>133,771<\/td>\n<td>13.26<\/td>\n<td>22<\/td>\n<td>-0.8882 %<\/td>\n<td>1,628.0<\/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>TRP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-15.71 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 10.46<br \/>\nEvaluated at bid price : 10.46<br \/>\nBid-YTW : 7.45 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>-14.62 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 7.01<br \/>\nEvaluated at bid price : 7.01<br \/>\nBid-YTW : 7.22 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>-12.27 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 7.01<br \/>\nEvaluated at bid price : 7.01<br \/>\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>-11.62 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.01<br \/>\nEvaluated at bid price : 13.01<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.H<\/td>\n<td>FloatingReset<\/td>\n<td>-11.47 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 7.18<br \/>\nEvaluated at bid price : 7.18<br \/>\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.A<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-10.27 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 9.26<br \/>\nEvaluated at bid price : 9.26<br \/>\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n<tr>\n<td>BIK.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>-9.45 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.83<br \/>\nEvaluated at bid price : 19.83<br \/>\nBid-YTW : 7.47 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>-6.40 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.05<br \/>\nEvaluated at bid price : 8.05<br \/>\nBid-YTW : 12.93 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.K<\/td>\n<td>FixedReset Disc<\/td>\n<td>-5.51 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 15.26<br \/>\nEvaluated at bid price : 15.26<br \/>\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-5.14 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.30<br \/>\nEvaluated at bid price : 8.30<br \/>\nBid-YTW : 13.25 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.J<\/td>\n<td>FloatingReset<\/td>\n<td>-4.45 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.15<br \/>\nEvaluated at bid price : 8.15<br \/>\nBid-YTW : 5.29 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-4.26 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.10<br \/>\nEvaluated at bid price : 8.10<br \/>\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n<tr>\n<td>W.PR.K<\/td>\n<td>FixedReset Disc<\/td>\n<td>-3.96 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.12<br \/>\nEvaluated at bid price : 21.12<br \/>\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>-3.81 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 15.90<br \/>\nEvaluated at bid price : 15.90<br \/>\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-3.25 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 20.26<br \/>\nEvaluated at bid price : 20.26<br \/>\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.98 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 12.37<br \/>\nEvaluated at bid price : 12.37<br \/>\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.97 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.60<br \/>\nEvaluated at bid price : 19.60<br \/>\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-2.78 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 14.00<br \/>\nEvaluated at bid price : 14.00<br \/>\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.68 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 14.50<br \/>\nEvaluated at bid price : 14.50<br \/>\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n<tr>\n<td>IAF.PR.I<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-2.52 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.90<br \/>\nEvaluated at bid price : 13.90<br \/>\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.41 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 4.85<br \/>\nEvaluated at bid price : 4.85<br \/>\nBid-YTW : 11.60 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.O<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 12.80<br \/>\nEvaluated at bid price : 12.80<br \/>\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.Z<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.76<br \/>\nEvaluated at bid price : 13.76<br \/>\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.M<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-2.14 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 12.82<br \/>\nEvaluated at bid price : 12.82<br \/>\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n<tr>\n<td>EIT.PR.B<\/td>\n<td>SplitShare<\/td>\n<td>-2.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Soft Maturity<br \/>\nMaturity Date\t: 2025-03-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.50<br \/>\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.01<br \/>\nEvaluated at bid price : 8.01<br \/>\nBid-YTW : 12.69 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.L<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-2.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 12.44<br \/>\nEvaluated at bid price : 12.44<br \/>\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n<tr>\n<td>IAF.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.96 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.00<br \/>\nEvaluated at bid price : 13.00<br \/>\nBid-YTW : 6.57 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.H<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.93 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 11.15<br \/>\nEvaluated at bid price : 11.15<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.F<\/td>\n<td>FloatingReset<\/td>\n<td>-1.91 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 9.25<br \/>\nEvaluated at bid price : 9.25<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.Q<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.91 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.37<br \/>\nEvaluated at bid price : 13.37<br \/>\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.73 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.08<br \/>\nEvaluated at bid price : 13.08<br \/>\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.58 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.10<br \/>\nEvaluated at bid price : 13.10<br \/>\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n<tr>\n<td>EML.PR.A<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.56 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.68<br \/>\nEvaluated at bid price : 22.10<br \/>\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.47 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.45<br \/>\nEvaluated at bid price : 13.45<br \/>\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.J<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.40 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 14.10<br \/>\nEvaluated at bid price : 14.10<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.36 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.81<br \/>\nEvaluated at bid price : 13.81<br \/>\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.35 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 10.95<br \/>\nEvaluated at bid price : 10.95<br \/>\nBid-YTW : 6.42 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.H<\/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: 2050-04-17<br \/>\nMaturity Price  : 14.75<br \/>\nEvaluated at bid price : 14.75<br \/>\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.99<br \/>\nEvaluated at bid price : 13.99<br \/>\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.B<\/td>\n<td>Floater<\/td>\n<td>-1.10 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 7.18<br \/>\nEvaluated at bid price : 7.18<br \/>\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.07 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.86<br \/>\nEvaluated at bid price : 13.86<br \/>\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.03 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 22.66<br \/>\nEvaluated at bid price : 23.01<br \/>\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 12.62<br \/>\nEvaluated at bid price : 12.62<br \/>\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 15.41<br \/>\nEvaluated at bid price : 15.41<br \/>\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.G<\/td>\n<td>SplitShare<\/td>\n<td>1.11 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Option Certainty<br \/>\nMaturity Date\t: 2026-02-28<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.76<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.11 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 23.49<br \/>\nEvaluated at bid price : 23.76<br \/>\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.F<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.12 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.10<br \/>\nEvaluated at bid price : 8.10<br \/>\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.E<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.16 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.43<br \/>\nEvaluated at bid price : 21.75<br \/>\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 16.90<br \/>\nEvaluated at bid price : 16.90<br \/>\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.O<\/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: 2050-04-17<br \/>\nMaturity Price  : 22.97<br \/>\nEvaluated at bid price : 23.48<br \/>\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.A<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.27 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.90<br \/>\nEvaluated at bid price : 19.90<br \/>\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.N<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.63<br \/>\nEvaluated at bid price : 8.63<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<tr>\n<td>CIU.PR.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.60<br \/>\nEvaluated at bid price : 19.60<br \/>\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<tr>\n<td>POW.PR.B<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.12<br \/>\nEvaluated at bid price : 21.12<br \/>\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.33 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 15.20<br \/>\nEvaluated at bid price : 15.20<br \/>\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.Q<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 22.90<br \/>\nEvaluated at bid price : 23.42<br \/>\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.75<br \/>\nEvaluated at bid price : 19.75<br \/>\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.M<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 23.03<br \/>\nEvaluated at bid price : 23.30<br \/>\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.C<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.46 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.43<br \/>\nEvaluated at bid price : 19.43<br \/>\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.52 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 22.50<br \/>\nEvaluated at bid price : 22.76<br \/>\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.Q<\/td>\n<td>Deemed-Retractible<\/td>\n<td>1.57 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 20.75<br \/>\nEvaluated at bid price : 20.75<br \/>\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.67 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.52<br \/>\nEvaluated at bid price : 21.89<br \/>\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.72 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 20.15<br \/>\nEvaluated at bid price : 20.15<br \/>\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.79 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 22.38<br \/>\nEvaluated at bid price : 22.70<br \/>\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.93 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 14.79<br \/>\nEvaluated at bid price : 14.79<br \/>\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.95 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.59<br \/>\nEvaluated at bid price : 22.00<br \/>\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.A<\/td>\n<td>Floater<\/td>\n<td>2.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.35<br \/>\nEvaluated at bid price : 8.35<br \/>\nBid-YTW : 5.21 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>2.16 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.97<br \/>\nEvaluated at bid price : 22.27<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.L<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.30<br \/>\nEvaluated at bid price : 19.30<br \/>\nBid-YTW : 5.29 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.78 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 20.30<br \/>\nEvaluated at bid price : 20.30<br \/>\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.75<br \/>\nEvaluated at bid price : 13.75<br \/>\nBid-YTW : 7.40 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.B<\/td>\n<td>Deemed-Retractible<\/td>\n<td>3.01 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.49<br \/>\nEvaluated at bid price : 19.49<br \/>\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.30 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.55<br \/>\nEvaluated at bid price : 21.90<br \/>\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.33 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 16.74<br \/>\nEvaluated at bid price : 16.74<br \/>\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.C<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>3.43 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.88<br \/>\nEvaluated at bid price : 13.88<br \/>\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.58 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.57<br \/>\nEvaluated at bid price : 21.96<br \/>\nBid-YTW : 5.25 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>5.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 14.70<br \/>\nEvaluated at bid price : 14.70<br \/>\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>7.58 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 10.65<br \/>\nEvaluated at bid price : 10.65<br \/>\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>8.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.99<br \/>\nEvaluated at bid price : 19.99<br \/>\nBid-YTW : 6.32 %<\/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>273,856<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 9.25<br \/>\nEvaluated at bid price : 9.25<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>239,362<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 4.85<br \/>\nEvaluated at bid price : 4.85<br \/>\nBid-YTW : 11.60 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>215,004<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.30<br \/>\nEvaluated at bid price : 8.30<br \/>\nBid-YTW : 13.25 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>210,505<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 16.74<br \/>\nEvaluated at bid price : 16.74<br \/>\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.B<\/td>\n<td>Floater<\/td>\n<td>194,685<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 7.18<br \/>\nEvaluated at bid price : 7.18<br \/>\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>176,970<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.01<br \/>\nEvaluated at bid price : 8.01<br \/>\nBid-YTW : 12.69 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>176,575<\/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 : 24.78<br \/>\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.N<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>167,981<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.63<br \/>\nEvaluated at bid price : 8.63<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.H<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>143,342<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 11.15<br \/>\nEvaluated at bid price : 11.15<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.I<\/td>\n<td>Perpetual-Discount<\/td>\n<td>142,131<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 22.66<br \/>\nEvaluated at bid price : 23.01<br \/>\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>141,265<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 7.01<br \/>\nEvaluated at bid price : 7.01<br \/>\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n<tr>\n<td>IAF.PR.I<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>130,863<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.90<br \/>\nEvaluated at bid price : 13.90<br \/>\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>128,217<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 19.85<br \/>\nEvaluated at bid price : 19.85<br \/>\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.J<\/td>\n<td>FloatingReset<\/td>\n<td>118,530<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 8.15<br \/>\nEvaluated at bid price : 8.15<br \/>\nBid-YTW : 5.29 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 90 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>BAM.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 15.41 &#8211; 21.00<br \/>\nSpot Rate  :  5.5900<br \/>\nAverage  :  3.2291<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 15.41<br \/>\nEvaluated at bid price : 15.41<br \/>\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 9.03 &#8211; 13.90<br \/>\nSpot Rate  :  4.8700<br \/>\nAverage  :  2.9205<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 9.03<br \/>\nEvaluated at bid price : 9.03<br \/>\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n<tr>\n<td>W.PR.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 22.34 &#8211; 24.70<br \/>\nSpot Rate  :  2.3600<br \/>\nAverage  :  1.3202<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.83<br \/>\nEvaluated at bid price : 22.34<br \/>\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.I<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>Quote: 13.50 &#8211; 16.00<br \/>\nSpot Rate  :  2.5000<br \/>\nAverage  :  1.5254<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 13.50<br \/>\nEvaluated at bid price : 13.50<br \/>\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.F<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 22.27 &#8211; 24.80<br \/>\nSpot Rate  :  2.5300<br \/>\nAverage  :  1.5695<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 21.97<br \/>\nEvaluated at bid price : 22.27<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 10.46 &#8211; 13.00<br \/>\nSpot Rate  :  2.5400<br \/>\nAverage  :  1.6315<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2050-04-17<br \/>\nMaturity Price  : 10.46<br \/>\nEvaluated at bid price : 10.46<br \/>\nBid-YTW : 7.45 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Click for Big TXPR closed at 501.84, up 0.97% on the day, which was about 172bp higher than the day&#8217;s low, with a late recovery commencing at 3:30 that put even the last two day&#8217;s &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-40751","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40751","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=40751"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40751\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}