{"id":44209,"date":"2022-10-04T19:42:24","date_gmt":"2022-10-05T00:42:24","guid":{"rendered":"https:\/\/prefblog.com\/?p=44209"},"modified":"2022-10-04T19:42:24","modified_gmt":"2022-10-05T00:42:24","slug":"october-4-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44209","title":{"rendered":"October 4, 2022"},"content":{"rendered":"
<\/a><\/div>\n

TXPR closed at 569.72<\/a>, down 0.53% on the day. Volume today was 1.46-million, third-highest of the past 21 trading days.<\/p>\n

CPD closed at 11.31<\/a>, down 0.53% on the day. Volume was 103,020, above the median of the past 21 trading days.<\/p>\n

ZPR closed at 9.49<\/a>, down 0.63% on the day. Volume was 250,400, third-highest of the past 21 trading days.<\/p>\n

Five-year Canada yields were up a few beeps to 3.30%<\/a> today.<\/p>\n

I really don’t know how low this market can go. Yields are already phenomenally high due to pending dividend increases and current price declines. I had some vague hopes that the reset of TD.PF.I to 6.301%<\/a> would spark a little interest, but it appears that the market is sneering at a mere 6.3% preferred dividend yield from a major bank.<\/p>\n

I am left with the suspicion that the market is expecting an imminent recession<\/a> and the return of near-zero yields:<\/p>\n

U.S. and Canadian stocks rallied for a second straight day on Tuesday after softer U.S. economic data and a smaller-than-expected interest rate hike by the Australian central bank stirred hope that the Federal Reserve might temper its aggressive raising of rates. After gaining 2.4% on Monday, the Canadian benchmark stock index rose almost another 2.6% for its best gain in two-and-a-half years.<\/p>\n

While labour demand remains fairly strong, U.S. job openings fell by the most in nearly 2-1\/2 years in August in a sign the Fed\u2019s mission to tame inflation by hiking rates was working to slow the economy.<\/p>\n

Earlier, the Reserve Bank of Australia surprised markets with a smaller-than-expected interest rate hike of 25 basis points. Its cash rate rose to a nine-year peak after six rate hikes in as many months in a tightening cycle other central banks are engaged in as well.
\n…<\/b>
\nStill, Fed Governor Philip Jefferson said inflation is the most serious problem facing the U.S. central bank and it \u201cmay take some time\u201d to address. San Francisco Fed President Mary Daly said the central bank needs to deliver more rate hikes.<\/p><\/blockquote>\n

How long will it take before the market decides that a 3.25% yield on five year Canada’s when inflation expectations are 2% is reasonably normal and that 0.5% with the same expectations is grossly abnormal? Will we all be dead by then?<\/p>\n

The Delaware Court of Chancery released a trove of Elon Musk’s eMails<\/a> (Exhibit H, page 82 of the PDF) that are public due to his lawsuit with Twitter. Reading them is, apparently, an emperor has no clothes moment<\/a>:<\/p>\n

What is so illuminating about the Musk messages is just how unimpressive, unimaginative, and sycophantic the powerful men in Musk\u2019s contacts appear to be. Whoever said there are no bad ideas in brainstorming never had access to Elon Musk\u2019s phone.
\n…<\/b>
\nIn no time, the texts were the central subject of discussion among tech workers and watchers. \u201cThe dominant reaction from all the threads I\u2019m in is Everyone looks fucking dumb,\u201d one former social-media executive, whom I\u2019ve granted anonymity because they have relationships with many of the people in Musk\u2019s texts, told me. \u201cIt\u2019s been a general Is this really how business is done? There\u2019s no real strategic thought or analysis. It\u2019s just emotional and done without any real care for consequence.\u201d<\/p><\/blockquote>\n

I have long taken the view that hard (and smart!) work and good ideas will get you a decent life and a lottery ticket. If your ticket is a winner, you can get unimaginably rich and there’s nothing more to the process than that; but if your ticket doesn’t come up, at least you’ve still got the decent life! Before entering the full-time workforce, I thought that the business world was run by smart, careful individuals who spent a lot of time checking their data and considering arguments. Then I started working and …. nahhhhh.<\/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>\n0.1992 %<\/td>\n2,417.0<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1992 %<\/td>\n4,635.8<\/td>\n<\/tr>\n
Floater<\/td>\n7.58 %<\/td>\n7.62 %<\/td>\n60,350<\/td>\n11.83<\/td>\n2<\/td>\n0.1992 %<\/td>\n2,671.6<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.5239 %<\/td>\n3,381.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.97 %<\/td>\n6.33 %<\/td>\n34,239<\/td>\n3.09<\/td>\n7<\/td>\n0.5239 %<\/td>\n4,038.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.5239 %<\/td>\n3,150.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.6904 %<\/td>\n2,686.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.34 %<\/td>\n6.48 %<\/td>\n70,920<\/td>\n13.19<\/td>\n33<\/td>\n0.6904 %<\/td>\n2,929.6<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.23 %<\/td>\n7.01 %<\/td>\n90,459<\/td>\n12.66<\/td>\n63<\/td>\n-1.3780 %<\/td>\n2,287.6<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.29 %<\/td>\n6.30 %<\/td>\n74,301<\/td>\n13.50<\/td>\n19<\/td>\n0.5633 %<\/td>\n2,861.3<\/td>\n<\/tr>\n
FloatingReset<\/td>\n8.66 %<\/td>\n9.00 %<\/td>\n36,215<\/td>\n10.42<\/td>\n2<\/td>\n-1.2796 %<\/td>\n2,504.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.3780 %<\/td>\n2,421.1<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.3780 %<\/td>\n2,338.4<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.44 %<\/td>\n7.53 %<\/td>\n44,852<\/td>\n12.40<\/td>\n14<\/td>\n-0.8793 %<\/td>\n2,316.5<\/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\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
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n-7.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.43
\nEvaluated at bid price : 19.43
\nBid-YTW : 7.05 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n-7.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n-5.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 7.22 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n-3.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.93
\nEvaluated at bid price : 18.93
\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n-3.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 12.54
\nEvaluated at bid price : 12.54
\nBid-YTW : 8.44 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n-3.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.05
\nEvaluated at bid price : 19.05
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n-3.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 7.05 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n-3.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.97
\nEvaluated at bid price : 18.97
\nBid-YTW : 7.12 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n-3.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.16
\nEvaluated at bid price : 19.16
\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n-3.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.88 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n-2.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 17.59
\nEvaluated at bid price : 17.59
\nBid-YTW : 7.97 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n-2.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.96
\nEvaluated at bid price : 18.96
\nBid-YTW : 7.03 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n-2.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.86
\nEvaluated at bid price : 22.38
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n-2.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.82
\nEvaluated at bid price : 22.30
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
TD.PF.K<\/td>\nFixedReset Disc<\/td>\n-2.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.75
\nBid-YTW : 6.76 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-2.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.56
\nEvaluated at bid price : 21.56
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Disc<\/td>\n-2.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 22.82
\nEvaluated at bid price : 24.10
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n-2.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.20
\nEvaluated at bid price : 19.20
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n-2.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n-2.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.96
\nEvaluated at bid price : 19.96
\nBid-YTW : 7.00 %<\/td>\n<\/tr>\n
TD.PF.E<\/td>\nFixedReset Disc<\/td>\n-2.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 6.86 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n-2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 12.73
\nEvaluated at bid price : 12.73
\nBid-YTW : 8.06 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n-2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 7.12 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n-2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.16
\nEvaluated at bid price : 19.16
\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 22.12
\nEvaluated at bid price : 22.75
\nBid-YTW : 6.23 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n-1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.59
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n
IFC.PR.I<\/td>\nPerpetual-Discount<\/td>\n-1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.77
\nEvaluated at bid price : 22.12
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.35
\nEvaluated at bid price : 21.35
\nBid-YTW : 6.62 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 16.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 8.37 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 15.75
\nEvaluated at bid price : 15.75
\nBid-YTW : 9.00 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 16.55
\nEvaluated at bid price : 16.55
\nBid-YTW : 8.00 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 16.14
\nEvaluated at bid price : 16.14
\nBid-YTW : 8.39 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 14.42
\nEvaluated at bid price : 14.42
\nBid-YTW : 8.62 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.67
\nEvaluated at bid price : 22.07
\nBid-YTW : 6.66 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 16.80
\nEvaluated at bid price : 16.80
\nBid-YTW : 7.87 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 20.71
\nEvaluated at bid price : 20.71
\nBid-YTW : 7.41 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.10
\nEvaluated at bid price : 19.10
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 11.75
\nEvaluated at bid price : 11.75
\nBid-YTW : 8.52 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 16.89
\nEvaluated at bid price : 16.89
\nBid-YTW : 7.99 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 16.70
\nEvaluated at bid price : 16.70
\nBid-YTW : 7.92 %<\/td>\n<\/tr>\n
FTS.PR.M<\/td>\nFixedReset Disc<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 17.65
\nEvaluated at bid price : 17.65
\nBid-YTW : 7.85 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.21
\nEvaluated at bid price : 21.21
\nBid-YTW : 6.18 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.90
\nEvaluated at bid price : 19.90
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 6.60 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.20
\nEvaluated at bid price : 18.20
\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 22.17
\nEvaluated at bid price : 22.45
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 17.80
\nEvaluated at bid price : 17.80
\nBid-YTW : 8.11 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
IFC.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.31
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetual-Discount<\/td>\n1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 22.39
\nEvaluated at bid price : 22.65
\nBid-YTW : 6.42 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n2.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.15
\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n2.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.90
\nEvaluated at bid price : 18.90
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n2.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 6.48 %<\/td>\n<\/tr>\n
ELF.PR.H<\/td>\nPerpetual-Discount<\/td>\n4.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.75
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n6.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 21.76
\nEvaluated at bid price : 21.76
\nBid-YTW : 6.14 %<\/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.I<\/td>\nFixedReset Disc<\/td>\n60,290<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 22.82
\nEvaluated at bid price : 24.10
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n55,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 7.05 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n39,905<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.20
\nEvaluated at bid price : 19.20
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n27,550<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 16.29
\nEvaluated at bid price : 16.29
\nBid-YTW : 8.40 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n27,390<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 7.22 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n21,877<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.88 %<\/td>\n<\/tr>\n
There were 15 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
MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 19.95 – 28.99
\nSpot Rate : 9.0400
\nAverage : 5.6998<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.95
\nEvaluated at bid price : 19.95
\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n

IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 19.36 – 22.25
\nSpot Rate : 2.8900
\nAverage : 1.6710<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 19.36
\nEvaluated at bid price : 19.36
\nBid-YTW : 7.53 %<\/td>\n<\/tr>\n

PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\nQuote: 18.79 – 20.44
\nSpot Rate : 1.6500
\nAverage : 0.9784<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.79
\nEvaluated at bid price : 18.79
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n

BIP.PR.F<\/td>\nFixedReset Disc<\/td>\nQuote: 20.71 – 22.95
\nSpot Rate : 2.2400
\nAverage : 1.7916<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 20.71
\nEvaluated at bid price : 20.71
\nBid-YTW : 7.41 %<\/td>\n<\/tr>\n

CM.PR.P<\/td>\nFixedReset Disc<\/td>\nQuote: 18.00 – 19.95
\nSpot Rate : 1.9500
\nAverage : 1.5145<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n

TD.PF.A<\/td>\nFixedReset Disc<\/td>\nQuote: 18.95 – 20.39
\nSpot Rate : 1.4400
\nAverage : 1.0701<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-04
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 7.05 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TXPR closed at 569.72, down 0.53% on the day. Volume today was 1.46-million, third-highest of the past 21 trading days. CPD closed at 11.31, down 0.53% on the day. Volume was 103,020, above the median …<\/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-44209","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44209","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=44209"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44209\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}