{"id":42067,"date":"2021-03-16T22:42:42","date_gmt":"2021-03-17T03:42:42","guid":{"rendered":"http:\/\/prefblog.com\/?p=42067"},"modified":"2021-03-16T22:42:42","modified_gmt":"2021-03-17T03:42:42","slug":"march-15-2021","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42067","title":{"rendered":"March 15, 2021"},"content":{"rendered":"

I could have sworn I posted this last night … but the day after PrefLetter<\/a> goes out is always a little incoherent!<\/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>\n1.1180 %<\/td>\n2,338.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n1.1180 %<\/td>\n4,290.8<\/td>\n<\/tr>\n
Floater<\/td>\n3.74 %<\/td>\n3.74 %<\/td>\n59,671<\/td>\n18.00<\/td>\n3<\/td>\n1.1180 %<\/td>\n2,472.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3169 %<\/td>\n3,683.2<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.76 %<\/td>\n3.98 %<\/td>\n40,031<\/td>\n3.63<\/td>\n9<\/td>\n0.3169 %<\/td>\n4,398.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3169 %<\/td>\n3,431.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.31 %<\/td>\n0.28 %<\/td>\n75,786<\/td>\n0.09<\/td>\n21<\/td>\n0.1982 %<\/td>\n3,244.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.96 %<\/td>\n4.99 %<\/td>\n79,662<\/td>\n15.49<\/td>\n13<\/td>\n0.0414 %<\/td>\n3,737.1<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.38 %<\/td>\n3.92 %<\/td>\n185,594<\/td>\n17.11<\/td>\n52<\/td>\n0.0549 %<\/td>\n2,649.8<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.01 %<\/td>\n4.62 %<\/td>\n84,769<\/td>\n15.47<\/td>\n22<\/td>\n0.0621 %<\/td>\n3,631.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.95 %<\/td>\n3.23 %<\/td>\n43,050<\/td>\n19.16<\/td>\n2<\/td>\n0.4679 %<\/td>\n2,421.3<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.08 %<\/td>\n3.87 %<\/td>\n227,465<\/td>\n1.02<\/td>\n26<\/td>\n-0.0753 %<\/td>\n2,722.5<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.80 %<\/td>\n2.04 %<\/td>\n218,951<\/td>\n0.44<\/td>\n1<\/td>\n0.0400 %<\/td>\n2,892.0<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.39 %<\/td>\n3.82 %<\/td>\n146,082<\/td>\n17.48<\/td>\n22<\/td>\n0.4100 %<\/td>\n2,803.2<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 22.18
\nEvaluated at bid price : 22.50
\nBid-YTW : 4.48 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 16.99
\nEvaluated at bid price : 16.99
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n
BAM.PF.G<\/td>\nFixedReset Disc<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 20.25
\nEvaluated at bid price : 20.25
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 12.34
\nEvaluated at bid price : 12.34
\nBid-YTW : 4.40 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 11.52
\nEvaluated at bid price : 11.52
\nBid-YTW : 3.72 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 23.45
\nEvaluated at bid price : 23.78
\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 16.77
\nEvaluated at bid price : 16.77
\nBid-YTW : 3.63 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 23.66
\nEvaluated at bid price : 23.93
\nBid-YTW : 4.83 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 21.89
\nEvaluated at bid price : 22.32
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 22.39
\nEvaluated at bid price : 23.25
\nBid-YTW : 3.89 %<\/td>\n<\/tr>\n
BIP.PR.E<\/td>\nFixedReset Disc<\/td>\n1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2023-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.00
\nBid-YTW : 4.91 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n
RS.PR.A<\/td>\nSplitShare<\/td>\n1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-12-31
\nMaturity Price : 10.00
\nEvaluated at bid price : 10.50
\nBid-YTW : 4.36 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 22.66
\nEvaluated at bid price : 23.20
\nBid-YTW : 3.98 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 11.40
\nEvaluated at bid price : 11.40
\nBid-YTW : 3.76 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n2.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 23.01
\nEvaluated at bid price : 24.40
\nBid-YTW : 3.66 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n3.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 13.68
\nEvaluated at bid price : 13.68
\nBid-YTW : 4.45 %<\/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
TD.PF.G<\/td>\nFixedReset Prem<\/td>\n256,087<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.29
\nBid-YTW : 1.30 %<\/td>\n<\/tr>\n
SLF.PR.B<\/td>\nInsurance Straight<\/td>\n115,517<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 24.50
\nEvaluated at bid price : 24.75
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n98,780<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.27
\nBid-YTW : 4.04 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n86,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 15.45
\nEvaluated at bid price : 15.45
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n
RY.PR.Q<\/td>\nFixedReset Prem<\/td>\n39,790<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-05-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 1.76 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nInsurance Straight<\/td>\n35,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 24.59
\nEvaluated at bid price : 24.84
\nBid-YTW : 4.78 %<\/td>\n<\/tr>\n
There were 22 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
PWF.PR.E<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.48 – 27.30
\nSpot Rate : 1.8200
\nAverage : 1.0316<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.48
\nBid-YTW : -9.78 %<\/td>\n<\/tr>\n

BAM.PR.T<\/td>\nFixedReset Disc<\/td>\nQuote: 18.25 – 19.15
\nSpot Rate : 0.9000
\nAverage : 0.5559<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 18.25
\nEvaluated at bid price : 18.25
\nBid-YTW : 4.58 %<\/td>\n<\/tr>\n

BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\nQuote: 22.50 – 23.11
\nSpot Rate : 0.6100
\nAverage : 0.4398<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 22.18
\nEvaluated at bid price : 22.50
\nBid-YTW : 4.48 %<\/td>\n<\/tr>\n

IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.40 – 18.95
\nSpot Rate : 0.5500
\nAverage : 0.4057<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n

TRP.PR.A<\/td>\nFixedReset Disc<\/td>\nQuote: 16.99 – 17.30
\nSpot Rate : 0.3100
\nAverage : 0.2008<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 16.99
\nEvaluated at bid price : 16.99
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n

BAM.PF.G<\/td>\nFixedReset Disc<\/td>\nQuote: 20.25 – 20.70
\nSpot Rate : 0.4500
\nAverage : 0.3514<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2051-03-15
\nMaturity Price : 20.25
\nEvaluated at bid price : 20.25
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

I could have sworn I posted this last night … but the day after PrefLetter goes out is always a little incoherent! HIMIPref™ Preferred IndicesThese values reflect the December 2008 revision of the HIMIPref™ IndicesValues …<\/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-42067","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42067","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=42067"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42067\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}