{"id":41903,"date":"2021-02-03T23:43:02","date_gmt":"2021-02-04T04:43:02","guid":{"rendered":"http:\/\/prefblog.com\/?p=41903"},"modified":"2021-02-03T23:43:02","modified_gmt":"2021-02-04T04:43:02","slug":"february-3-2021","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=41903","title":{"rendered":"February 3, 2021"},"content":{"rendered":"

PerpetualDiscounts now yield 4.96%, equivalent to 6.45% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> now yield 2.88%, so the pre-tax interest-equivalent spread (in this context, the \u201cSeniority Spread\u201d) is sharply narrower at 355bp than the 370bp reported January 20<\/a>.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n2.7308 %<\/td>\n2,124.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n2.7308 %<\/td>\n3,897.8<\/td>\n<\/tr>\n
Floater<\/td>\n4.07 %<\/td>\n4.10 %<\/td>\n52,299<\/td>\n17.19<\/td>\n3<\/td>\n2.7308 %<\/td>\n2,246.3<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0269 %<\/td>\n3,630.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.70 %<\/td>\n4.49 %<\/td>\n38,656<\/td>\n4.17<\/td>\n8<\/td>\n0.0269 %<\/td>\n4,336.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0269 %<\/td>\n3,383.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.35 %<\/td>\n-4.65 %<\/td>\n71,647<\/td>\n0.09<\/td>\n18<\/td>\n-0.1025 %<\/td>\n3,236.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.97 %<\/td>\n4.96 %<\/td>\n73,775<\/td>\n15.37<\/td>\n13<\/td>\n0.5407 %<\/td>\n3,728.4<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.79 %<\/td>\n3.69 %<\/td>\n147,512<\/td>\n17.71<\/td>\n56<\/td>\n0.7625 %<\/td>\n2,449.1<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n4.98 %<\/td>\n4.65 %<\/td>\n91,346<\/td>\n4.10<\/td>\n22<\/td>\n0.4832 %<\/td>\n3,607.5<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.54 %<\/td>\n3.04 %<\/td>\n24,178<\/td>\n17.20<\/td>\n2<\/td>\n0.5076 %<\/td>\n1,950.9<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.12 %<\/td>\n3.30 %<\/td>\n193,621<\/td>\n1.04<\/td>\n20<\/td>\n0.0039 %<\/td>\n2,714.6<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.80 %<\/td>\n1.58 %<\/td>\n185,911<\/td>\n0.98<\/td>\n1<\/td>\n0.2004 %<\/td>\n2,892.0<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.71 %<\/td>\n3.56 %<\/td>\n93,818<\/td>\n17.89<\/td>\n22<\/td>\n1.5974 %<\/td>\n2,587.9<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
CU.PR.H<\/td>\nPerpetual-Premium<\/td>\n-3.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.24
\nEvaluated at bid price : 24.57
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Prem<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.62
\nBid-YTW : 3.88 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-09-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.98
\nBid-YTW : 4.44 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.98
\nEvaluated at bid price : 24.25
\nBid-YTW : 5.05 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 20.11
\nEvaluated at bid price : 20.11
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.25
\nEvaluated at bid price : 23.55
\nBid-YTW : 3.48 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.75
\nEvaluated at bid price : 23.50
\nBid-YTW : 3.49 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.60
\nEvaluated at bid price : 24.85
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 20.63
\nEvaluated at bid price : 20.63
\nBid-YTW : 3.65 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.74
\nEvaluated at bid price : 23.55
\nBid-YTW : 3.21 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 15.35
\nEvaluated at bid price : 15.35
\nBid-YTW : 4.49 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.14
\nEvaluated at bid price : 24.39
\nBid-YTW : 4.60 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 19.96
\nEvaluated at bid price : 19.96
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.58
\nEvaluated at bid price : 23.85
\nBid-YTW : 4.71 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.27
\nEvaluated at bid price : 24.57
\nBid-YTW : 4.62 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.20
\nEvaluated at bid price : 22.52
\nBid-YTW : 3.54 %<\/td>\n<\/tr>\n
TD.PF.K<\/td>\nFixedReset Disc<\/td>\n1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.62
\nEvaluated at bid price : 23.25
\nBid-YTW : 3.44 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 20.58
\nEvaluated at bid price : 20.58
\nBid-YTW : 3.58 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\n1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 10.16
\nEvaluated at bid price : 10.16
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
IAF.PR.B<\/td>\nInsurance Straight<\/td>\n1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.59
\nEvaluated at bid price : 24.84
\nBid-YTW : 4.67 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 19.25
\nEvaluated at bid price : 19.25
\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 21.61
\nEvaluated at bid price : 21.95
\nBid-YTW : 3.43 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.22
\nEvaluated at bid price : 23.62
\nBid-YTW : 3.57 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 15.90
\nEvaluated at bid price : 15.90
\nBid-YTW : 3.58 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 17.19
\nEvaluated at bid price : 17.19
\nBid-YTW : 4.57 %<\/td>\n<\/tr>\n
BAM.PF.F<\/td>\nFixedReset Disc<\/td>\n1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 19.25
\nEvaluated at bid price : 19.25
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 16.75
\nEvaluated at bid price : 16.75
\nBid-YTW : 4.49 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 11.41
\nEvaluated at bid price : 11.41
\nBid-YTW : 4.32 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 13.26
\nEvaluated at bid price : 13.26
\nBid-YTW : 3.50 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 13.01
\nEvaluated at bid price : 13.01
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 12.25
\nEvaluated at bid price : 12.25
\nBid-YTW : 3.04 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.81
\nEvaluated at bid price : 23.40
\nBid-YTW : 3.57 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n2.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.36
\nEvaluated at bid price : 22.65
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.39
\nEvaluated at bid price : 24.76
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n
IAF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n2.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.10
\nEvaluated at bid price : 23.55
\nBid-YTW : 3.50 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n2.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 17.91
\nEvaluated at bid price : 17.91
\nBid-YTW : 4.72 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n2.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 10.55
\nEvaluated at bid price : 10.55
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n2.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 21.24
\nEvaluated at bid price : 21.24
\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n2.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.16
\nEvaluated at bid price : 22.45
\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n2.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 14.27
\nEvaluated at bid price : 14.27
\nBid-YTW : 4.57 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n2.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 10.50
\nEvaluated at bid price : 10.50
\nBid-YTW : 4.12 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n2.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 10.55
\nEvaluated at bid price : 10.55
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n2.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 21.91
\nEvaluated at bid price : 22.45
\nBid-YTW : 3.53 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n3.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 16.57
\nEvaluated at bid price : 16.57
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n3.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 12.98
\nEvaluated at bid price : 12.98
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n4.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.05
\nEvaluated at bid price : 23.85
\nBid-YTW : 3.47 %<\/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
TRP.PR.K<\/td>\nFixedReset Disc<\/td>\n639,135<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.78
\nEvaluated at bid price : 24.97
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n606,305<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 22.20
\nEvaluated at bid price : 22.80
\nBid-YTW : 3.43 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n362,145<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 13.50
\nEvaluated at bid price : 13.50
\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n127,455<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 17.19
\nEvaluated at bid price : 17.19
\nBid-YTW : 4.57 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n108,602<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 23.74
\nEvaluated at bid price : 25.00
\nBid-YTW : 3.78 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n65,560<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 10.16
\nEvaluated at bid price : 10.16
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
There were 31 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
CU.PR.H<\/td>\nPerpetual-Premium<\/td>\nQuote: 24.57 – 25.95
\nSpot Rate : 1.3800
\nAverage : 0.8487<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.24
\nEvaluated at bid price : 24.57
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n

SLF.PR.E<\/td>\nInsurance Straight<\/td>\nQuote: 24.37 – 24.87
\nSpot Rate : 0.5000
\nAverage : 0.3441<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 24.12
\nEvaluated at bid price : 24.37
\nBid-YTW : 4.65 %<\/td>\n<\/tr>\n

SLF.PR.J<\/td>\nFloatingReset<\/td>\nQuote: 12.25 – 12.75
\nSpot Rate : 0.5000
\nAverage : 0.3565<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 12.25
\nEvaluated at bid price : 12.25
\nBid-YTW : 3.04 %<\/td>\n<\/tr>\n

GWO.PR.P<\/td>\nInsurance Straight<\/td>\nQuote: 25.33 – 25.77
\nSpot Rate : 0.4400
\nAverage : 0.2987<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-03-05
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.33
\nBid-YTW : -4.45 %<\/td>\n<\/tr>\n

BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\nQuote: 19.37 – 19.81
\nSpot Rate : 0.4400
\nAverage : 0.3204<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 19.37
\nEvaluated at bid price : 19.37
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset Disc<\/td>\nQuote: 10.16 – 10.70
\nSpot Rate : 0.5400
\nAverage : 0.4234<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-02-03
\nMaturity Price : 10.16
\nEvaluated at bid price : 10.16
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PerpetualDiscounts now yield 4.96%, equivalent to 6.45% interest at the standard equivalency factor of 1.3x. Long corporates now yield 2.88%, so the pre-tax interest-equivalent spread (in this context, the \u201cSeniority Spread\u201d) is sharply narrower at …<\/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-41903","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41903","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=41903"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/41903\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}