{"id":43357,"date":"2022-05-02T19:03:29","date_gmt":"2022-05-03T00:03:29","guid":{"rendered":"https:\/\/prefblog.com\/?p=43357"},"modified":"2022-05-02T19:03:29","modified_gmt":"2022-05-03T00:03:29","slug":"may-2-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43357","title":{"rendered":"May 2, 2022"},"content":{"rendered":"

Some landlords are learning the risks of investing with a negative carry<\/a>:<\/p>\n

In recent years, many mom-and-pop real estate investors in the two cities have been quietly paying more in mortgage and other ownership costs than they receive in rent, trusting they\u2019d eventually sell at a profit thanks to rapidly rising home values, experts say.<\/p>\n

But as interest rates shoot up and price growth slows, some highly indebted landlords are beginning to feel the squeeze more acutely. That financial pain could eventually push rents even higher, some experts warn.
\n…<\/b>
\nIt\u2019s not uncommon for homeowners who\u2019ve seen the value of their first home soar in recent years to borrow against their home equity with a HELOC to fund the down payment on an investment property, [Toronto-based mortgage broker] Mr. [Ron] Butler said, speaking about the Ontario market. Borrowers often don\u2019t disclose to their bank they intend to use the HELOC to acquire a second home, he added.<\/p>\n

Once they\u2019ve drawn the cash for a down payment from the HELOC, borrowers typically apply for a mortgage to finance the rest of the real estate purchase, Mr. Butler said.<\/p>\n

With HELOC rates climbing, many of those highly leveraged investors are now scrambling to convert their line of credit balance into mortgage debt that comes with fixed payments, according to Mr. Butler. The risk is that some may not be able to do so.<\/p>\n

That may be because the additional debt they\u2019ve taken on from the investment property means they don\u2019t meet lenders\u2019 requirements. Another obstacle is the fact that climbing interest rates have raised the bar borrowers must clear to pass the federal mortgage stress test, Mr. Butler said. Yet another hitch is that mortgages, unlike HELOCs, require payments of both principal and interest, resulting in bigger monthly outlays for borrowers, he added.<\/p><\/blockquote>\n

Well, rising rents is one way the situation might be resolved. Another way is for the investors to eat the negative carry for an indefinite period; and the third is for the investors to sell at a loss. As the rental market seems to be priced at all the market can bear, I’ll suggest that the third is the most likely option with the timing set for the deals to close around the time the mortgage (if any) renews. That’s what happened in 1980 and again in 1991.<\/p>\n

But amid all this talk of rising prices, some may simply wish to relax<\/a>:<\/p>\n

Prices for recreational and medicinal cannabis have dropped by 8.3 per cent and 10.2 per cent, respectively, over the past year, and by roughly 25 per cent in both categories since the end of 2018, according to Statistics Canada. The annual inflation rate hit 6.7 per cent in March, the highest since 1991.<\/p><\/blockquote>\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>\n3.76 %<\/td>\n4.43 %<\/td>\n24,500<\/td>\n18.60<\/td>\n1<\/td>\n1.7045 %<\/td>\n2,549.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.8850 %<\/td>\n4,814.0<\/td>\n<\/tr>\n
Floater<\/td>\n4.29 %<\/td>\n4.32 %<\/td>\n53,245<\/td>\n16.75<\/td>\n3<\/td>\n-0.8850 %<\/td>\n2,774.3<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2158 %<\/td>\n3,554.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.79 %<\/td>\n4.97 %<\/td>\n35,142<\/td>\n3.32<\/td>\n8<\/td>\n-0.2158 %<\/td>\n4,244.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2158 %<\/td>\n3,311.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.90 %<\/td>\n5.93 %<\/td>\n62,822<\/td>\n14.00<\/td>\n1<\/td>\n-0.2394 %<\/td>\n2,958.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.77 %<\/td>\n5.86 %<\/td>\n64,992<\/td>\n14.08<\/td>\n35<\/td>\n-0.0194 %<\/td>\n3,218.7<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.66 %<\/td>\n5.98 %<\/td>\n142,848<\/td>\n13.86<\/td>\n59<\/td>\n-0.4797 %<\/td>\n2,491.8<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.72 %<\/td>\n5.80 %<\/td>\n106,055<\/td>\n14.18<\/td>\n20<\/td>\n-1.1551 %<\/td>\n3,135.3<\/td>\n<\/tr>\n
FloatingReset<\/td>\n4.72 %<\/td>\n5.05 %<\/td>\n69,770<\/td>\n15.40<\/td>\n2<\/td>\n2.7273 %<\/td>\n2,659.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.04 %<\/td>\n4.69 %<\/td>\n145,635<\/td>\n2.11<\/td>\n9<\/td>\n-0.2505 %<\/td>\n2,616.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4797 %<\/td>\n2,547.1<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.62 %<\/td>\n6.15 %<\/td>\n85,164<\/td>\n13.76<\/td>\n15<\/td>\n0.5149 %<\/td>\n2,596.6<\/td>\n<\/tr>\n<\/tbody>\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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n-39.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 12.29
\nEvaluated at bid price : 12.29
\nBid-YTW : 10.29 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n-5.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 22.03
\nEvaluated at bid price : 22.26
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nInsurance Straight<\/td>\n-4.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.41
\nEvaluated at bid price : 20.41
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset Disc<\/td>\n-2.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 6.88 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n-2.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 13.07
\nEvaluated at bid price : 13.07
\nBid-YTW : 4.32 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n-2.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.30
\nEvaluated at bid price : 20.30
\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n-2.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 19.96
\nEvaluated at bid price : 19.96
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n-1.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n-1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 19.67
\nEvaluated at bid price : 19.67
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.01
\nEvaluated at bid price : 21.01
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 16.92
\nEvaluated at bid price : 16.92
\nBid-YTW : 6.80 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nInsurance Straight<\/td>\n-1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 22.03
\nEvaluated at bid price : 22.26
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.52
\nEvaluated at bid price : 20.52
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.11
\nEvaluated at bid price : 20.11
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
PVS.PR.J<\/td>\nSplitShare<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.21
\nBid-YTW : 5.20 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 19.71
\nEvaluated at bid price : 19.71
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.80
\nBid-YTW : 5.37 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nInsurance Straight<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.69
\nEvaluated at bid price : 20.69
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
GWO.PR.L<\/td>\nInsurance Straight<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 23.69
\nEvaluated at bid price : 24.00
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Prem<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 23.58
\nEvaluated at bid price : 24.75
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
IAF.PR.B<\/td>\nInsurance Straight<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n
ELF.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 22.34
\nEvaluated at bid price : 22.61
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
GWO.PR.T<\/td>\nInsurance Straight<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.68
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 23.09
\nEvaluated at bid price : 23.35
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 23.13
\nEvaluated at bid price : 23.50
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.85
\nEvaluated at bid price : 20.85
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.76
\nEvaluated at bid price : 20.76
\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.27
\nEvaluated at bid price : 21.54
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n
BAM.PF.I<\/td>\nFixedReset Disc<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 13.86
\nEvaluated at bid price : 13.86
\nBid-YTW : 6.90 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
CU.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 22.84
\nEvaluated at bid price : 23.10
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 18.62
\nEvaluated at bid price : 18.62
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.90
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n
BAM.PR.E<\/td>\nRatchet<\/td>\n1.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.90
\nBid-YTW : 4.43 %<\/td>\n<\/tr>\n
PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\n1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.97
\nEvaluated at bid price : 22.25
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n2.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 19.79
\nEvaluated at bid price : 19.79
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nPerpetual-Discount<\/td>\n2.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 23.30
\nEvaluated at bid price : 23.76
\nBid-YTW : 5.14 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n2.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n2.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 13.05
\nEvaluated at bid price : 13.05
\nBid-YTW : 7.00 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n5.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 16.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 4.48 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n6.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 15.29
\nEvaluated at bid price : 15.29
\nBid-YTW : 6.24 %<\/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
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n56,368<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n54,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.85
\nEvaluated at bid price : 20.85
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n51,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 17.70
\nEvaluated at bid price : 17.70
\nBid-YTW : 6.65 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n43,874<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 18.90
\nEvaluated at bid price : 18.90
\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n43,163<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 21.01
\nEvaluated at bid price : 21.01
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Disc<\/td>\n39,915<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.02
\nBid-YTW : 3.27 %<\/td>\n<\/tr>\n
There were 18 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
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\nQuote: 12.29 – 20.90
\nSpot Rate : 8.6100
\nAverage : 4.9456<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 12.29
\nEvaluated at bid price : 12.29
\nBid-YTW : 10.29 %<\/td>\n<\/tr>\n

MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\nQuote: 19.55 – 23.50
\nSpot Rate : 3.9500
\nAverage : 2.3592<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n

PVS.PR.I<\/td>\nSplitShare<\/td>\nQuote: 25.10 – 30.00
\nSpot Rate : 4.9000
\nAverage : 3.4335<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 4.88 %<\/td>\n<\/tr>\n

CU.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.65 – 24.11
\nSpot Rate : 3.4600
\nAverage : 2.0268<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n

PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 19.67 – 22.30
\nSpot Rate : 2.6300
\nAverage : 1.8146<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 19.67
\nEvaluated at bid price : 19.67
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n

CCS.PR.C<\/td>\nInsurance Straight<\/td>\nQuote: 22.26 – 23.80
\nSpot Rate : 1.5400
\nAverage : 1.0237<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-02
\nMaturity Price : 22.03
\nEvaluated at bid price : 22.26
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Some landlords are learning the risks of investing with a negative carry: In recent years, many mom-and-pop real estate investors in the two cities have been quietly paying more in mortgage and other ownership costs …<\/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-43357","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43357","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=43357"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43357\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}