{"id":43933,"date":"2022-08-02T22:25:38","date_gmt":"2022-08-03T03:25:38","guid":{"rendered":"https:\/\/prefblog.com\/?p=43933"},"modified":"2022-08-02T22:25:38","modified_gmt":"2022-08-03T03:25:38","slug":"august-2-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43933","title":{"rendered":"August 2, 2022"},"content":{"rendered":"

Excitement in the bond market today, which I have seen attributed to San Francisco Fed President Mary Daly’s remarks<\/a>:<\/p>\n

The Federal Reserve’s work of bringing down inflation is “nowhere near” almost done, San Francisco Fed President Mary Daly said on Tuesday, adding U.S. central bank officials are “still resolute and completely united” in the task of achieving price stability.<\/p>\n

Daly, in an interview streamed on LinkedIn and hosted by a CNBC anchor, said, “We have made a good start, and I feel really pleased with where we’ve gotten to by this point,” but she cautioned there is still “a long way to go” to lower inflation from four-decade highs.<\/p><\/blockquote>\n

These remarks, in turn, have been attributed<\/a> to correcting an earlier misinterpretation:<\/p>\n

Look at this one-week range for the yield on 2-year US government bonds.<\/p>\n

These are substantial moves for a short-dated maturity and caused primarily by Fed Chair Powell’s unscripted “neutral” remark and then the walk-back by other Fed officials.<\/p>\n

No wonder people chuckled when told the Fed doesn’t wish to amplify volatility in markets.<\/p><\/blockquote>\n

<\/a><\/div>\n

And the confusion arose because<\/a>:<\/p>\n

One of Federal Reserve Chair Jerome Powell\u2019s unscripted remarks at his press conference on Wednesday \u2014 that interest rates have reached a \u201cneutral level\u201d after the just-announced 75-basis-point interest-rate increase \u2014 is sure to prompt much discussion among economists in the weeks and months ahead. Judging from how markets reacted the minute he made this remark, it is clear what conclusions the vast majority of investors want these economists to reach.
\n…<\/b>
\nIn today\u2019s world, this is translated by markets into the view that the Fed now believes that it has already done the bulk of what is needed to tighten monetary policy to deal with what Powell himself described as inflation that remains \u201cmuch too high\u201d and is inflicting \u201cconsiderable hardship\u201d on Americans.<\/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>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4164 %<\/td>\n2,449.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4164 %<\/td>\n4,698.6<\/td>\n<\/tr>\n
Floater<\/td>\n6.45 %<\/td>\n6.55 %<\/td>\n38,837<\/td>\n13.09<\/td>\n3<\/td>\n-0.4164 %<\/td>\n2,707.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4666 %<\/td>\n3,465.0<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.91 %<\/td>\n5.80 %<\/td>\n39,670<\/td>\n3.10<\/td>\n8<\/td>\n0.4666 %<\/td>\n4,138.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4666 %<\/td>\n3,228.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1879 %<\/td>\n2,887.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.90 %<\/td>\n6.02 %<\/td>\n72,933<\/td>\n13.86<\/td>\n34<\/td>\n0.1879 %<\/td>\n3,148.6<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.77 %<\/td>\n5.85 %<\/td>\n113,516<\/td>\n14.48<\/td>\n55<\/td>\n0.4544 %<\/td>\n2,473.9<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.87 %<\/td>\n5.99 %<\/td>\n83,646<\/td>\n13.90<\/td>\n18<\/td>\n0.0396 %<\/td>\n3,065.1<\/td>\n<\/tr>\n
FloatingReset<\/td>\n7.04 %<\/td>\n7.33 %<\/td>\n42,131<\/td>\n12.10<\/td>\n2<\/td>\n-0.5786 %<\/td>\n2,510.5<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.02 %<\/td>\n4.85 %<\/td>\n128,772<\/td>\n1.89<\/td>\n10<\/td>\n0.5188 %<\/td>\n2,596.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4544 %<\/td>\n2,528.8<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.87 %<\/td>\n6.28 %<\/td>\n58,427<\/td>\n13.69<\/td>\n14<\/td>\n-1.4393 %<\/td>\n2,506.3<\/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\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-4.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 22.63
\nEvaluated at bid price : 23.70
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-3.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 18.44
\nEvaluated at bid price : 18.44
\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n
BIP.PR.E<\/td>\nFixedReset Disc<\/td>\n-3.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 22.61
\nEvaluated at bid price : 23.25
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-2.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 22.93
\nEvaluated at bid price : 23.61
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n-1.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 15.82
\nEvaluated at bid price : 15.82
\nBid-YTW : 7.26 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset Disc<\/td>\n-1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 13.50
\nEvaluated at bid price : 13.50
\nBid-YTW : 6.97 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 13.76
\nEvaluated at bid price : 13.76
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 17.64
\nEvaluated at bid price : 17.64
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.30
\nEvaluated at bid price : 21.30
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n-1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.60
\nEvaluated at bid price : 21.60
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.53
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 17.20
\nEvaluated at bid price : 17.20
\nBid-YTW : 7.24 %<\/td>\n<\/tr>\n
BAM.PF.G<\/td>\nFixedReset Disc<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 17.38
\nEvaluated at bid price : 17.38
\nBid-YTW : 7.40 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 12.72
\nEvaluated at bid price : 12.72
\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n
PVS.PR.G<\/td>\nSplitShare<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2026-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 17.31
\nEvaluated at bid price : 17.31
\nBid-YTW : 6.64 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 20.05
\nEvaluated at bid price : 20.05
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.40
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Prem<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 4.58 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 23.17
\nEvaluated at bid price : 23.80
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n
FTS.PR.G<\/td>\nFixedReset Disc<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 18.65
\nEvaluated at bid price : 18.65
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.33
\nEvaluated at bid price : 21.63
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 15.35
\nEvaluated at bid price : 15.35
\nBid-YTW : 7.28 %<\/td>\n<\/tr>\n
CM.PR.T<\/td>\nFixedReset Prem<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.44
\nBid-YTW : 4.21 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 23.31
\nEvaluated at bid price : 24.08
\nBid-YTW : 5.31 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 24.16
\nEvaluated at bid price : 24.51
\nBid-YTW : 5.22 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 19.45
\nEvaluated at bid price : 19.45
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n
BMO.PR.F<\/td>\nFixedReset Prem<\/td>\n1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 3.78 %<\/td>\n<\/tr>\n
ELF.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.75
\nEvaluated at bid price : 22.00
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
ELF.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 22.77
\nEvaluated at bid price : 23.05
\nBid-YTW : 6.01 %<\/td>\n<\/tr>\n
FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.78
\nEvaluated at bid price : 22.02
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
PVS.PR.I<\/td>\nSplitShare<\/td>\n1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.67
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n1.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.20
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 17.35
\nEvaluated at bid price : 17.35
\nBid-YTW : 7.18 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.81
\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\n2.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 18.51
\nEvaluated at bid price : 18.51
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n2.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 24.00
\nEvaluated at bid price : 24.40
\nBid-YTW : 5.46 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n2.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 12.30
\nEvaluated at bid price : 12.30
\nBid-YTW : 7.25 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset Disc<\/td>\n2.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 6.60 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n4.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.47
\nEvaluated at bid price : 21.47
\nBid-YTW : 6.08 %<\/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
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n164,494<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.47
\nEvaluated at bid price : 21.47
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Disc<\/td>\n41,618<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-09-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.96
\nBid-YTW : 3.62 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n39,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 22.63
\nEvaluated at bid price : 23.70
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\n26,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n24,949<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n19,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.59
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.75 %<\/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.PR.T<\/td>\nFixedReset Disc<\/td>\nQuote: 16.76 – 22.95
\nSpot Rate : 6.1900
\nAverage : 3.8054<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 16.76
\nEvaluated at bid price : 16.76
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n

BAM.PF.G<\/td>\nFixedReset Disc<\/td>\nQuote: 17.38 – 20.95
\nSpot Rate : 3.5700
\nAverage : 2.2259<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 17.38
\nEvaluated at bid price : 17.38
\nBid-YTW : 7.40 %<\/td>\n<\/tr>\n

CM.PR.P<\/td>\nFixedReset Disc<\/td>\nQuote: 21.38 – 22.88
\nSpot Rate : 1.5000
\nAverage : 0.9701<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.38
\nEvaluated at bid price : 21.38
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n

IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 21.10 – 22.65
\nSpot Rate : 1.5500
\nAverage : 1.1041<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 21.10
\nEvaluated at bid price : 21.10
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n

MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.44 – 19.76
\nSpot Rate : 1.3200
\nAverage : 0.8744<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-08-02
\nMaturity Price : 18.44
\nEvaluated at bid price : 18.44
\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n

EIT.PR.A<\/td>\nSplitShare<\/td>\nQuote: 25.11 – 26.11
\nSpot Rate : 1.0000
\nAverage : 0.5790<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2024-03-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.11
\nBid-YTW : 4.95 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Excitement in the bond market today, which I have seen attributed to San Francisco Fed President Mary Daly’s remarks: The Federal Reserve’s work of bringing down inflation is “nowhere near” almost done, San Francisco Fed …<\/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-43933","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43933","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=43933"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43933\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}