{"id":43774,"date":"2022-07-08T21:33:23","date_gmt":"2022-07-09T02:33:23","guid":{"rendered":"https:\/\/prefblog.com\/?p=43774"},"modified":"2022-07-08T21:33:23","modified_gmt":"2022-07-09T02:33:23","slug":"july-8-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43774","title":{"rendered":"July 8, 2022"},"content":{"rendered":"

Jobs, jobs … whoopsy<\/a>!:<\/p>\n

The Canadian economy posted a surprise loss of jobs in June, the first monthly decline that was not associated with tighter public-health restrictions since the outset of the pandemic.<\/p>\n

Overall employment fell by 43,000 last month, fully retracing the increase of 40,000 in May, Statistics Canada said on Friday. Financial analysts were expecting a gain of 22,500 positions, based on the median estimate. The job losses were especially stark for the self-employed and those 55 and up.<\/p>\n

Despite the decline, the unemployment rate fell to a new record low of 4.9 per cent (from 5.1 per cent) as fewer people searched for work.<\/p>\n

Hiring conditions remain challenging in Canada. At last count, employers were recruiting for about one million positions \u2013 far greater than job-vacancy levels before the pandemic, impacting salaries.<\/p>\n

Average hourly wages rose 5.2 per cent in June from a year earlier, up from 3.9 per cent in May. Wages have been accelerating as the labour shortage drags on, although pay hasn\u2019t kept pace with inflation.<\/p><\/blockquote>\n

The US did better<\/a>:<\/p>\n

The economy added 372,000 jobs in June, a hotter-than-expected boost to the labor market that may ease worries of an impending recession, but that also complicates the job of the Federal Reserve as it seeks to quell inflation.<\/p>\n

The unemployment rate was 3.6 percent, the same as a month earlier, the Labor Department reported Friday.<\/p>\n

The number is in line with the average gain over the last few months, including 368,000 in April and 384,000 in May. Employers have continued to compete for workers in recent months, with initial unemployment claims rising only slightly from their low point in March.<\/p>\n

The private sector has now regained its prepandemic number of jobs, while the public sector remains 664,000 jobs below February 2020. Other than the public sector, no industry lost jobs in June, on a seasonally adjusted basis.
\n…<\/b>
\nWages continued to climb rapidly last month, offering little encouragement to the Federal Reserve as policymakers hope for a slowdown in pay gains that might allow inflation to moderate.<\/p>\n

Average hourly earnings picked up by 5.1 percent in the year through June, moderating slightly from 5.3 percent in the year through May. Economists in a Bloomberg survey had expected a slightly bigger cool-down, to 5 percent.<\/p><\/blockquote>\n

So Musk is attempting to terminate the Twitter deal<\/a>:<\/p>\n

Less than three months ago, Elon Musk, the world\u2019s richest man, struck a blockbuster $44 billion deal to buy Twitter. He proclaimed that the company had \u201ctremendous potential.\u201d
\n…<\/b>
\nIn a regulatory filing prepared by his lawyers, Mr. Musk said he was terminating the Twitter deal because of a continuing disagreement over the number of spam accounts on the platform. He claimed that Twitter had not provided information necessary to calculate the number of those accounts \u2014 which the company has said is lower than 5 percent \u2014 and that it had appeared to make inaccurate statements.<\/p><\/blockquote>\n

The coming lawsuit should be immensely entertaining.<\/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>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1289 %<\/td>\n2,486.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1289 %<\/td>\n4,769.8<\/td>\n<\/tr>\n
Floater<\/td>\n5.00 %<\/td>\n5.04 %<\/td>\n39,136<\/td>\n15.47<\/td>\n3<\/td>\n0.1289 %<\/td>\n2,748.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2247 %<\/td>\n3,493.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.87 %<\/td>\n5.06 %<\/td>\n47,777<\/td>\n3.17<\/td>\n8<\/td>\n-0.2247 %<\/td>\n4,171.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2247 %<\/td>\n3,254.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2773 %<\/td>\n2,846.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.99 %<\/td>\n6.06 %<\/td>\n67,482<\/td>\n13.84<\/td>\n34<\/td>\n0.2773 %<\/td>\n3,103.5<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.75 %<\/td>\n6.42 %<\/td>\n111,564<\/td>\n13.59<\/td>\n56<\/td>\n0.2783 %<\/td>\n2,482.9<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.99 %<\/td>\n6.07 %<\/td>\n87,987<\/td>\n13.81<\/td>\n18<\/td>\n0.2213 %<\/td>\n3,002.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n6.16 %<\/td>\n6.53 %<\/td>\n43,756<\/td>\n13.17<\/td>\n2<\/td>\n0.1576 %<\/td>\n2,578.6<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.00 %<\/td>\n4.42 %<\/td>\n127,839<\/td>\n1.96<\/td>\n10<\/td>\n0.2218 %<\/td>\n2,608.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2783 %<\/td>\n2,538.1<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.75 %<\/td>\n6.70 %<\/td>\n59,055<\/td>\n13.27<\/td>\n14<\/td>\n0.3300 %<\/td>\n2,565.6<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-3.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 16.87
\nEvaluated at bid price : 16.87
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
RY.PR.O<\/td>\nPerpetual-Discount<\/td>\n-2.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 22.93
\nEvaluated at bid price : 23.20
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n-1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.25
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 19.47
\nEvaluated at bid price : 19.47
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 17.78
\nEvaluated at bid price : 17.78
\nBid-YTW : 7.63 %<\/td>\n<\/tr>\n
PWF.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 24.25
\nEvaluated at bid price : 24.55
\nBid-YTW : 6.01 %<\/td>\n<\/tr>\n
TD.PF.M<\/td>\nFixedReset Prem<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.06
\nBid-YTW : 4.84 %<\/td>\n<\/tr>\n
PWF.PR.O<\/td>\nPerpetual-Discount<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 23.63
\nEvaluated at bid price : 23.90
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 17.03
\nEvaluated at bid price : 17.03
\nBid-YTW : 7.39 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 5.99 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.49
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 18.66
\nEvaluated at bid price : 18.66
\nBid-YTW : 7.03 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 21.27
\nEvaluated at bid price : 21.27
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
BIP.PR.E<\/td>\nFixedReset Disc<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 22.70
\nEvaluated at bid price : 23.33
\nBid-YTW : 6.64 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nInsurance Straight<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 19.08
\nEvaluated at bid price : 19.08
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 15.85
\nEvaluated at bid price : 15.85
\nBid-YTW : 7.70 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 22.26
\nEvaluated at bid price : 23.02
\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n
NA.PR.G<\/td>\nFixedReset Disc<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 23.29
\nEvaluated at bid price : 23.75
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset Disc<\/td>\n1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 18.90
\nEvaluated at bid price : 18.90
\nBid-YTW : 6.89 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.49
\nBid-YTW : 6.44 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n4.94 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 18.71
\nEvaluated at bid price : 18.71
\nBid-YTW : 7.03 %<\/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
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n250,600<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.96
\nBid-YTW : 3.87 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n59,108<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Disc<\/td>\n33,522<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 24.01
\nEvaluated at bid price : 24.96
\nBid-YTW : 6.47 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n22,898<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 21.38
\nEvaluated at bid price : 21.38
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetual-Discount<\/td>\n20,006<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 23.91
\nEvaluated at bid price : 24.15
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n16,892<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 20.70
\nEvaluated at bid price : 20.70
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
There were 4 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
CU.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.00 – 21.99
\nSpot Rate : 1.9900
\nAverage : 1.2848<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n

BNS.PR.I<\/td>\nFixedReset Disc<\/td>\nQuote: 23.85 – 25.20
\nSpot Rate : 1.3500
\nAverage : 0.8519<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 23.44
\nEvaluated at bid price : 23.85
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n

IFC.PR.K<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.90 – 23.49
\nSpot Rate : 1.5900
\nAverage : 1.2331<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 21.58
\nEvaluated at bid price : 21.90
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n

EIT.PR.A<\/td>\nSplitShare<\/td>\nQuote: 25.27 – 26.27
\nSpot Rate : 1.0000
\nAverage : 0.7096<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2024-03-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.27
\nBid-YTW : 4.34 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset Disc<\/td>\nQuote: 12.40 – 13.25
\nSpot Rate : 0.8500
\nAverage : 0.6005<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 12.40
\nEvaluated at bid price : 12.40
\nBid-YTW : 7.97 %<\/td>\n<\/tr>\n

RY.PR.O<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.20 – 23.85
\nSpot Rate : 0.6500
\nAverage : 0.4732<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-07-08
\nMaturity Price : 22.93
\nEvaluated at bid price : 23.20
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Jobs, jobs … whoopsy!: The Canadian economy posted a surprise loss of jobs in June, the first monthly decline that was not associated with tighter public-health restrictions since the outset of the pandemic. Overall employment …<\/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-43774","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43774","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=43774"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43774\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}