{"id":44238,"date":"2022-10-06T18:39:46","date_gmt":"2022-10-06T23:39:46","guid":{"rendered":"https:\/\/prefblog.com\/?p=44238"},"modified":"2022-10-06T18:39:46","modified_gmt":"2022-10-06T23:39:46","slug":"october-6-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44238","title":{"rendered":"October 6, 2022"},"content":{"rendered":"
<\/a><\/div>\n

TXPR closed at 568.84<\/a>, down 0.68% on the day. Volume today was 1.05-million, near the median of the past 21 trading days.<\/p>\n

CPD closed at 11.29<\/a>, down 0.53% on the day. Volume was 47,440, well below the median of the past 21 trading days.<\/p>\n

ZPR closed at 9.44<\/a>, down 0.74% on the day. Volume was 73,340, fourth-lowest of the past 21 trading days.<\/p>\n

Five-year Canada yields were up 6bp to 3.52%<\/a> today.<\/p>\n

Today’s market weakness has been attributed to central banks<\/a>:<\/p>\n

Major North American indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly jobs reports Friday that the Federal Reserve\u2019s aggressive interest rate stance will lead to a recession.
\n…<\/b>
\nThe Bank of Canada has also been raising rates at a rapid pace. Its governor, Tiff Macklem, made clear in a speech Thursday that the central bank will not yet be pivoting away from its hawkish stance. Macklem said the currency\u2019s recent weakness will offset some easing of inflation pressures that could come from improving global supply chains and lower commodity prices.<\/p>\n

Money markets raised bets on a 50-basis-point hike at the BoC\u2019s next policy announcement on Oct. 26, pricing in a 70% chance of such a move versus roughly 50% before the governor\u2019s speech.<\/p>\n

Canadian government bond yields rose across a more deeply inverted curve, with the 2-year moving above the 4% threshold for the first time since October 2007. It was up 14.7 basis points at 4.013% by late afternoon.
\n…<\/b>
\nChicago Fed President Charles Evans was the latest to spell out the central bank\u2019s outlook on Thursday, saying policymakers expect to deliver 125 basis points of rate hikes before year\u2019s end as inflation readings have been disappointing.<\/p><\/blockquote>\n

There was other reporting on Macklem’s speech<\/a>:<\/p>\n

The labour market remains too tight, he said, putting upward pressure on wages and business costs. Likewise, inflation is increasingly being driven by domestic factors, which is showing up in service-sector prices that aren\u2019t as responsive to higher borrowing costs.<\/p>\n

\u201cDomestic inflationary pressures have yet to ease. That doesn\u2019t mean higher interest rates are not working, but it will take time,\u201d Mr. Macklem said.
\n…<\/b>
\nMr. Macklem pointed to some promising signs for the trajectory of inflation. Oil prices have fallen in recent months as the outlook for global economic growth has darkened. Supply chain bottlenecks are improving and shipping costs have receded.<\/p><\/blockquote>\n

Municipal balance sheets may become less useful<\/a>:<\/p>\n

The independent body that sets accounting standards for Canada\u2019s public sector is proposing rule changes that would allow municipalities to include the value of wetlands, grasslands and other natural assets on their balance sheets.<\/p>\n

The Public Sector Accounting Board (PSAB) has been scrutinizing ways to recognize the value of a wide range of natural settings, from rivers and ponds to fields and marshes. The board is embarking on a complex process that would pave the way for new standards governing what is allowed to appear on financial statements.<\/p>\n

Advocates for revamping accounting rules say that during a time of heightened concerns over climate change, it\u2019s crucial to place financial values on natural assets and their environmental benefits. For example, adding the value of a river or marsh to its assets would enhance a city\u2019s credit rating and potentially reduce its borrowing costs.<\/p><\/blockquote>\n

It’s ridiculous. Natural assets may well be valuable, but that’s not the same thing as ‘convertible into cash’. I strongly agree that municipalities should maintain wetlands, grasslands etc. due to thir valu, but this value should be accounted for separately; for instance, a credit analyst might reduce the normal probability of a very destructive flood due to these features.<\/p>\n

On the other hand, of course, there’s the Bloomberg Effect; very few of the careful and extremely well paid financial analysts around bother reading financial statements in all their glory; they’ll go to Bloomberg and get the Recommended Ratios (required for box-ticking purposes) from a standard screen. It’s much faster, leaving more time for lunch with clients.<\/p>\n

Canadian Utilities will aquire a portfolio of wind and solar assets and projects in Alberta and Ontario for a purchase price of $730 million<\/a>:<\/p>\n

With respect to CUL\u2019s business risk profile, there would be no material immediate impact following the closing of the Acquisition as most CUL\u2019s consolidated cash flows would still be from its stable, low-risk regulated utilities in Canada and Australia. DBRS Morningstar expects CUL\u2019s regulated utility operations to continue to generate over 90% of CUL\u2019s consolidated cash flow in the medium term post-Acquisition, as the size of the Acquisition is relatively modest compared with CUL\u2019s total assets of approximately $21.4 billion as at June 30, 2022. However, after the Acquisition, should CUL take on an aggressive expansion in renewable generation assets to a degree that future cash flow (or EBITDA) contributed to CUL from its regulated utilities declines to significantly below 90% on a sustained basis, its rating could be affected. DBRS Morningstar is of the view that renewable generation assets, even when fully contracted, would entail higher risk than regulated utility assets.<\/p>\n

With respect to CUL\u2019s financial risk profile, DBRS Morningstar thinks the potential financing of the Acquisition would have no immediate material impact on its consolidated credit ratios. Following the closing of the Acquisition, DBRS Morningstar expects CUL to reasonably finance its future renewable generation projects in a manner so that its current credit metrics would remain relatively stable and solid within the required range to maintain its \u201cA\u201d rating, as indicated in DBRS Morningstar\u2019s \u201cGlobal Methodology for Rating Companies in the Regulated Electric, Natural Gas, and Water Utilities Industry\u201d (September 2022). A material deterioration of CUL\u2019s consolidated credit metrics, notwithstanding its business risk profile, could have a negative impact on CUL\u2019s ratings. DBRS Morningstar believes that CUL has sufficient liquidity to finance the Acquisition.<\/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>\n0.6160 %<\/td>\n2,354.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.6160 %<\/td>\n4,516.0<\/td>\n<\/tr>\n
Floater<\/td>\n7.79 %<\/td>\n7.65 %<\/td>\n48,357<\/td>\n11.79<\/td>\n2<\/td>\n0.6160 %<\/td>\n2,602.6<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1087 %<\/td>\n3,389.1<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.96 %<\/td>\n6.33 %<\/td>\n32,796<\/td>\n3.08<\/td>\n7<\/td>\n-0.1087 %<\/td>\n4,047.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1087 %<\/td>\n3,157.9<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.6993 %<\/td>\n2,667.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.38 %<\/td>\n6.50 %<\/td>\n72,846<\/td>\n13.28<\/td>\n33<\/td>\n-0.6993 %<\/td>\n2,908.4<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.24 %<\/td>\n7.26 %<\/td>\n91,482<\/td>\n12.44<\/td>\n63<\/td>\n-0.4499 %<\/td>\n2,285.2<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.31 %<\/td>\n6.40 %<\/td>\n75,032<\/td>\n13.35<\/td>\n19<\/td>\n-0.5352 %<\/td>\n2,850.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n8.67 %<\/td>\n9.03 %<\/td>\n36,300<\/td>\n10.39<\/td>\n2<\/td>\n-0.5806 %<\/td>\n2,501.5<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4499 %<\/td>\n2,418.5<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4499 %<\/td>\n2,335.9<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.47 %<\/td>\n7.89 %<\/td>\n45,215<\/td>\n12.09<\/td>\n14<\/td>\n-0.6670 %<\/td>\n2,313.0<\/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
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-7.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 15.05
\nEvaluated at bid price : 15.05
\nBid-YTW : 9.31 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n-4.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.12
\nEvaluated at bid price : 17.12
\nBid-YTW : 6.67 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n-4.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 7.98 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-2.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 15.55
\nEvaluated at bid price : 15.55
\nBid-YTW : 8.02 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n-2.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 14.42
\nEvaluated at bid price : 14.42
\nBid-YTW : 8.94 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n-2.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.75
\nEvaluated at bid price : 18.75
\nBid-YTW : 7.44 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n-2.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.64
\nEvaluated at bid price : 18.64
\nBid-YTW : 7.48 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-2.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 21.30
\nEvaluated at bid price : 21.30
\nBid-YTW : 7.38 %<\/td>\n<\/tr>\n
FTS.PR.M<\/td>\nFixedReset Disc<\/td>\n-2.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 8.25 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n-2.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 19.77
\nEvaluated at bid price : 19.77
\nBid-YTW : 7.21 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n-2.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 19.04
\nEvaluated at bid price : 19.04
\nBid-YTW : 7.54 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n-2.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.72
\nEvaluated at bid price : 17.72
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 16.72
\nEvaluated at bid price : 16.72
\nBid-YTW : 8.25 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n-1.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.74
\nEvaluated at bid price : 18.74
\nBid-YTW : 7.35 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset Disc<\/td>\n-1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.51
\nEvaluated at bid price : 17.51
\nBid-YTW : 8.58 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 19.13
\nEvaluated at bid price : 19.13
\nBid-YTW : 7.97 %<\/td>\n<\/tr>\n
GWO.PR.T<\/td>\nInsurance Straight<\/td>\n-1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n-1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 21.21
\nEvaluated at bid price : 21.21
\nBid-YTW : 6.18 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.76
\nEvaluated at bid price : 18.76
\nBid-YTW : 7.31 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 20.99
\nEvaluated at bid price : 20.99
\nBid-YTW : 7.37 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 15.70
\nEvaluated at bid price : 15.70
\nBid-YTW : 9.03 %<\/td>\n<\/tr>\n
FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 19.91
\nEvaluated at bid price : 19.91
\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 6.57 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Discount<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 20.95
\nEvaluated at bid price : 20.95
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 21.47
\nEvaluated at bid price : 21.47
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 19.96
\nEvaluated at bid price : 19.96
\nBid-YTW : 7.27 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.72
\nEvaluated at bid price : 17.72
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 22.14
\nEvaluated at bid price : 22.79
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 12.70
\nEvaluated at bid price : 12.70
\nBid-YTW : 8.63 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 16.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 8.05 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset Disc<\/td>\n1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 15.15
\nEvaluated at bid price : 15.15
\nBid-YTW : 8.61 %<\/td>\n<\/tr>\n
CU.PR.J<\/td>\nPerpetual-Discount<\/td>\n1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.90
\nEvaluated at bid price : 18.90
\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nInsurance Straight<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.81
\nEvaluated at bid price : 18.81
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
TD.PF.L<\/td>\nFixedReset Disc<\/td>\n1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 23.50
\nEvaluated at bid price : 23.90
\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 7.85 %<\/td>\n<\/tr>\n
NA.PR.G<\/td>\nFixedReset Disc<\/td>\n1.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 21.61
\nEvaluated at bid price : 22.00
\nBid-YTW : 7.05 %<\/td>\n<\/tr>\n
IFC.PR.K<\/td>\nPerpetual-Discount<\/td>\n2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
TD.PF.K<\/td>\nFixedReset Disc<\/td>\n2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 21.57
\nEvaluated at bid price : 21.95
\nBid-YTW : 6.88 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n2.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.90
\nEvaluated at bid price : 17.90
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
BAM.PF.G<\/td>\nFixedReset Disc<\/td>\n2.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 16.70
\nEvaluated at bid price : 16.70
\nBid-YTW : 8.67 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n2.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 21.79
\nEvaluated at bid price : 22.25
\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Disc<\/td>\n3.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 8.06 %<\/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
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n49,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 12.70
\nEvaluated at bid price : 12.70
\nBid-YTW : 8.63 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Disc<\/td>\n47,650<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 22.82
\nEvaluated at bid price : 24.12
\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n30,814<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n29,620<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.72
\nEvaluated at bid price : 17.72
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n14,812<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 19.73
\nEvaluated at bid price : 19.73
\nBid-YTW : 7.26 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n12,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 22.14
\nEvaluated at bid price : 22.79
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n
There were 6 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
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\nQuote: 16.72 – 18.85
\nSpot Rate : 2.1300
\nAverage : 1.4612<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 16.72
\nEvaluated at bid price : 16.72
\nBid-YTW : 8.25 %<\/td>\n<\/tr>\n

CCS.PR.C<\/td>\nInsurance Straight<\/td>\nQuote: 20.75 – 23.50
\nSpot Rate : 2.7500
\nAverage : 2.1615<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n

BAM.PF.E<\/td>\nFixedReset Disc<\/td>\nQuote: 15.05 – 16.66
\nSpot Rate : 1.6100
\nAverage : 1.0386<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 15.05
\nEvaluated at bid price : 15.05
\nBid-YTW : 9.31 %<\/td>\n<\/tr>\n

CU.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 17.12 – 18.44
\nSpot Rate : 1.3200
\nAverage : 0.8331<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.12
\nEvaluated at bid price : 17.12
\nBid-YTW : 6.67 %<\/td>\n<\/tr>\n

GWO.PR.Y<\/td>\nInsurance Straight<\/td>\nQuote: 17.72 – 18.75
\nSpot Rate : 1.0300
\nAverage : 0.6715<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 17.72
\nEvaluated at bid price : 17.72
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n

MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.30 – 19.50
\nSpot Rate : 1.2000
\nAverage : 0.9051<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-06
\nMaturity Price : 18.30
\nEvaluated at bid price : 18.30
\nBid-YTW : 7.85 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TXPR closed at 568.84, down 0.68% on the day. Volume today was 1.05-million, near the median of the past 21 trading days. CPD closed at 11.29, down 0.53% on the day. Volume was 47,440, well …<\/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-44238","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44238","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=44238"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44238\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}