{"id":42994,"date":"2022-02-10T20:35:43","date_gmt":"2022-02-11T01:35:43","guid":{"rendered":"https:\/\/prefblog.com\/?p=42994"},"modified":"2022-02-10T20:35:43","modified_gmt":"2022-02-11T01:35:43","slug":"february-10-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=42994","title":{"rendered":"February 10, 2022"},"content":{"rendered":"

US inflation has recorded a 40-year high<\/a>:<\/p>\n

The Canadian dollar CADUSD weakened against the greenback on Thursday as data showing that U.S. inflation soared to a 40-year high in January raised expectations for aggressive interest rate hikes by the Federal Reserve.<\/p>\n

U.S. bond yields climbed and the greenback rallied against a basket of major currencies as the U.S. consumer price index climbed at an annual rate of 7.5 per cent, fueling speculation of a 50 basis points interest rate hike from the Fed next month.<\/p><\/blockquote>\n

The NYT reports signs of spreading<\/a>:<\/p>\n

More worrying were the report\u2019s details, which showed inflation moving beyond pandemic-affected goods and services, a sign that rapid gains could prove longer lasting and harder to shake off.
\n…<\/b>
\nLately, it is more than just shortages of goods at play. Price gains are increasingly hitting consumers in hard-to-avoid ways as they show up in necessities: January\u2019s inflation reading was driven by food, electricity and shelter costs, the Bureau of Labor Statistics said.
\n…<\/b>
\nAfter Thursday\u2019s report, investors expected the Fed to withdraw economic support even more quickly. Markets braced for a half-percentage-point increase in the federal funds rate at the central bank\u2019s meeting next month \u2014 double the usual increment.<\/p>\n

The inflation reading sent stocks down and government bond yields up. The S&P 500 dropped 1.8 percent, while the Nasdaq composite fell 2.1 percent. The yield on 10-year U.S. Treasury notes rose 0.1 percentage points, to about 2.03 percent, the highest level since November 2019.<\/p><\/blockquote>\n

GOC-5 hit 1.84% today<\/a>; the highest in the BOC’s weekly series since 2019-2-13<\/a>.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref\u2122 Preferred Indices
\nThese values reflect the December 2008 revision of the HIMIPref\u2122 Indices<\/strong>
\nValues are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
\nCurrent
\nYield
\n(at bid)<\/td>\n		Median
\nYTW<\/td>\n		Median
\nAverage
\nTrading
\nValue<\/td>\n		Median
\nMod Dur
\n(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n3.00 %<\/td>\n3.45 %<\/td>\n41,482<\/td>\n20.12<\/td>\n1<\/td>\n0.5416 %<\/td>\n2,908.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3067 %<\/td>\n5,672.1<\/td>\n<\/tr>\n
Floater<\/td>\n2.81 %<\/td>\n2.83 %<\/td>\n62,607<\/td>\n20.15<\/td>\n3<\/td>\n0.3067 %<\/td>\n3,268.9<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1832 %<\/td>\n3,662.1<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.63 %<\/td>\n4.35 %<\/td>\n32,190<\/td>\n3.63<\/td>\n6<\/td>\n0.1832 %<\/td>\n4,373.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1832 %<\/td>\n3,412.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.20 %<\/td>\n-15.55 %<\/td>\n55,685<\/td>\n0.09<\/td>\n22<\/td>\n-0.1035 %<\/td>\n3,238.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n4.79 %<\/td>\n4.74 %<\/td>\n60,682<\/td>\n15.74<\/td>\n11<\/td>\n-0.1224 %<\/td>\n3,849.9<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n3.92 %<\/td>\n4.21 %<\/td>\n116,938<\/td>\n16.49<\/td>\n44<\/td>\n-0.3261 %<\/td>\n2,862.6<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n4.91 %<\/td>\n4.60 %<\/td>\n80,975<\/td>\n15.66<\/td>\n18<\/td>\n-0.1728 %<\/td>\n3,649.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.67 %<\/td>\n3.02 %<\/td>\n53,021<\/td>\n19.64<\/td>\n2<\/td>\n0.0000 %<\/td>\n2,958.5<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n4.76 %<\/td>\n3.55 %<\/td>\n104,163<\/td>\n1.78<\/td>\n26<\/td>\n0.0015 %<\/td>\n2,713.4<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.3261 %<\/td>\n2,926.2<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.09 %<\/td>\n4.14 %<\/td>\n73,077<\/td>\n16.55<\/td>\n17<\/td>\n0.0585 %<\/td>\n2,968.0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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.PF.E<\/td>\nFixedReset Disc<\/td>\n-3.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 4.88 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n-2.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 24.18
\nEvaluated at bid price : 24.65
\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n-1.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 18.30
\nEvaluated at bid price : 18.30
\nBid-YTW : 4.07 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n-1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 22.80
\nEvaluated at bid price : 23.84
\nBid-YTW : 4.20 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 4.75 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 17.75
\nEvaluated at bid price : 17.75
\nBid-YTW : 4.11 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 22.85
\nEvaluated at bid price : 23.52
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset Disc<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.25
\nBid-YTW : 3.95 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 4.02 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
\nTraded<\/td>\n		Notes<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n103,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 22.90
\nEvaluated at bid price : 23.68
\nBid-YTW : 4.13 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n68,822<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 24.53
\nEvaluated at bid price : 24.83
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Prem<\/td>\n50,800<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2023-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.30
\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n44,703<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 22.97
\nEvaluated at bid price : 24.00
\nBid-YTW : 4.04 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n42,265<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 23.98
\nEvaluated at bid price : 24.23
\nBid-YTW : 4.69 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n40,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 22.91
\nEvaluated at bid price : 23.85
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
There were 12 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\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
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\nQuote: 21.45 – 22.50
\nSpot Rate : 1.0500
\nAverage : 0.7497<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 4.88 %<\/td>\n<\/tr>\n

BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\nQuote: 24.65 – 25.20
\nSpot Rate : 0.5500
\nAverage : 0.3437<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 24.18
\nEvaluated at bid price : 24.65
\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n

RY.PR.M<\/td>\nFixedReset Disc<\/td>\nQuote: 23.84 – 24.35
\nSpot Rate : 0.5100
\nAverage : 0.3043<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 22.80
\nEvaluated at bid price : 23.84
\nBid-YTW : 4.20 %<\/td>\n<\/tr>\n

MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.30 – 18.83
\nSpot Rate : 0.5300
\nAverage : 0.3599<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 18.30
\nEvaluated at bid price : 18.30
\nBid-YTW : 4.07 %<\/td>\n<\/tr>\n

BAM.PF.B<\/td>\nFixedReset Disc<\/td>\nQuote: 23.58 – 24.01
\nSpot Rate : 0.4300
\nAverage : 0.2643<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 23.26
\nEvaluated at bid price : 23.58
\nBid-YTW : 4.64 %<\/td>\n<\/tr>\n

TRP.PR.E<\/td>\nFixedReset Disc<\/td>\nQuote: 21.49 – 22.02
\nSpot Rate : 0.5300
\nAverage : 0.3665<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-02-10
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.49
\nBid-YTW : 4.70 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

US inflation has recorded a 40-year high: The Canadian dollar CADUSD weakened against the greenback on Thursday as data showing that U.S. inflation soared to a 40-year high in January raised expectations for aggressive interest …<\/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-42994","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42994","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=42994"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/42994\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}