{"id":41648,"date":"2020-11-27T19:32:01","date_gmt":"2020-11-28T00:32:01","guid":{"rendered":"http:\/\/prefblog.com\/?p=41648"},"modified":"2020-11-27T19:32:01","modified_gmt":"2020-11-28T00:32:01","slug":"november-27-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41648","title":{"rendered":"November 27, 2020"},"content":{"rendered":"\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>\n0.4732 %<\/td>\n1,825.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4732 %<\/td>\n3,350.3<\/td>\n<\/tr>\n
Floater<\/td>\n4.66 %<\/td>\n4.72 %<\/td>\n38,099<\/td>\n15.94<\/td>\n3<\/td>\n0.4732 %<\/td>\n1,930.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1009 %<\/td>\n3,586.6<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.83 %<\/td>\n4.43 %<\/td>\n40,510<\/td>\n3.88<\/td>\n9<\/td>\n-0.1009 %<\/td>\n4,283.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1009 %<\/td>\n3,341.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.38 %<\/td>\n2.56 %<\/td>\n70,801<\/td>\n0.08<\/td>\n13<\/td>\n0.1202 %<\/td>\n3,191.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.09 %<\/td>\n5.03 %<\/td>\n78,887<\/td>\n15.16<\/td>\n19<\/td>\n0.1121 %<\/td>\n3,642.8<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.17 %<\/td>\n4.01 %<\/td>\n123,045<\/td>\n16.74<\/td>\n64<\/td>\n0.7501 %<\/td>\n2,238.7<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.01 %<\/td>\n4.73 %<\/td>\n94,876<\/td>\n15.15<\/td>\n22<\/td>\n0.0859 %<\/td>\n3,556.8<\/td>\n<\/tr>\n
FloatingReset<\/td>\n1.97 %<\/td>\n2.46 %<\/td>\n43,246<\/td>\n1.16<\/td>\n3<\/td>\n0.0942 %<\/td>\n1,823.3<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.19 %<\/td>\n2.79 %<\/td>\n228,461<\/td>\n0.70<\/td>\n15<\/td>\n0.0486 %<\/td>\n2,671.8<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.94 %<\/td>\n2.08 %<\/td>\n175,395<\/td>\n1.16<\/td>\n2<\/td>\n0.0603 %<\/td>\n2,866.5<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.28 %<\/td>\n4.06 %<\/td>\n74,709<\/td>\n16.84<\/td>\n22<\/td>\n0.3196 %<\/td>\n2,310.5<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-3.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 11.46
\nEvaluated at bid price : 11.46
\nBid-YTW : 4.02 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n-1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 22.72
\nEvaluated at bid price : 23.01
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 13.53
\nEvaluated at bid price : 13.53
\nBid-YTW : 4.35 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 12.35
\nEvaluated at bid price : 12.35
\nBid-YTW : 5.30 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 3.74 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 23.50
\nEvaluated at bid price : 23.95
\nBid-YTW : 5.20 %<\/td>\n<\/tr>\n
IAF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.30
\nEvaluated at bid price : 19.30
\nBid-YTW : 4.31 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 18.30
\nEvaluated at bid price : 18.30
\nBid-YTW : 4.31 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 3.74 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 21.36
\nEvaluated at bid price : 21.36
\nBid-YTW : 3.68 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 18.74
\nEvaluated at bid price : 18.74
\nBid-YTW : 3.97 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 18.58
\nEvaluated at bid price : 18.58
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n
BAM.PF.A<\/td>\nFixedReset Disc<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 4.97 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\n1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 4.04 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 20.08
\nEvaluated at bid price : 20.08
\nBid-YTW : 4.20 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.25
\nEvaluated at bid price : 19.25
\nBid-YTW : 3.78 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.75
\nEvaluated at bid price : 19.75
\nBid-YTW : 4.11 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.33
\nEvaluated at bid price : 19.33
\nBid-YTW : 3.75 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 15.85
\nEvaluated at bid price : 15.85
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.56
\nEvaluated at bid price : 19.56
\nBid-YTW : 3.69 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 3.82 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 20.53
\nEvaluated at bid price : 20.53
\nBid-YTW : 3.96 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.34
\nEvaluated at bid price : 19.34
\nBid-YTW : 3.67 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 17.80
\nEvaluated at bid price : 17.80
\nBid-YTW : 4.32 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 17.99
\nEvaluated at bid price : 17.99
\nBid-YTW : 4.11 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n1.94 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 15.80
\nEvaluated at bid price : 15.80
\nBid-YTW : 5.05 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 15.00
\nEvaluated at bid price : 15.00
\nBid-YTW : 5.11 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n2.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 12.11
\nEvaluated at bid price : 12.11
\nBid-YTW : 4.79 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 14.36
\nEvaluated at bid price : 14.36
\nBid-YTW : 4.86 %<\/td>\n<\/tr>\n
BAM.PF.F<\/td>\nFixedReset Disc<\/td>\n2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 5.06 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset Disc<\/td>\n2.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 14.45
\nEvaluated at bid price : 14.45
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset Disc<\/td>\n2.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 5.01 %<\/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
BNS.PR.G<\/td>\nFixedReset Prem<\/td>\n156,570<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-07-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.56
\nBid-YTW : 2.79 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Prem<\/td>\n63,100<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.65
\nBid-YTW : 2.94 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n47,860<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 23.91
\nEvaluated at bid price : 24.15
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n45,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 18.58
\nEvaluated at bid price : 18.58
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n
PVS.PR.D<\/td>\nSplitShare<\/td>\n32,000<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2021-10-08
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.05
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset Disc<\/td>\n28,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 5.01 %<\/td>\n<\/tr>\n
There were 26 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
GWO.PR.P<\/td>\nInsurance Straight<\/td>\nQuote: 25.35 – 26.35
\nSpot Rate : 1.0000
\nAverage : 0.6204<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-27
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.35
\nBid-YTW : -1.36 %<\/td>\n<\/tr>\n

SLF.PR.D<\/td>\nInsurance Straight<\/td>\nQuote: 24.15 – 24.98
\nSpot Rate : 0.8300
\nAverage : 0.5197<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 23.91
\nEvaluated at bid price : 24.15
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n

SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 11.46 – 12.00
\nSpot Rate : 0.5400
\nAverage : 0.3381<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 11.46
\nEvaluated at bid price : 11.46
\nBid-YTW : 4.02 %<\/td>\n<\/tr>\n

RY.PR.J<\/td>\nFixedReset Disc<\/td>\nQuote: 20.51 – 21.00
\nSpot Rate : 0.4900
\nAverage : 0.3087<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n

BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.01 – 23.50
\nSpot Rate : 0.4900
\nAverage : 0.3459<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 22.72
\nEvaluated at bid price : 23.01
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n

BAM.PF.A<\/td>\nFixedReset Disc<\/td>\nQuote: 18.55 – 18.92
\nSpot Rate : 0.3700
\nAverage : 0.2471<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2050-11-27
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 4.97 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

HIMIPref™ Preferred IndicesThese values reflect the December 2008 revision of the HIMIPref™ IndicesValues are provisional and are finalized monthly Index MeanCurrentYield(at bid) MedianYTW MedianAverageTradingValue MedianMod Dur(YTW) Issues Day’s Perf. Index Value Ratchet 0.00 % 0.00 …<\/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-41648","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41648","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=41648"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41648\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}