{"id":44281,"date":"2022-10-19T18:35:30","date_gmt":"2022-10-19T23:35:30","guid":{"rendered":"https:\/\/prefblog.com\/?p=44281"},"modified":"2022-10-19T18:35:30","modified_gmt":"2022-10-19T23:35:30","slug":"october-19-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44281","title":{"rendered":"October 19, 2022"},"content":{"rendered":"

PerpetualDiscounts now yield 6.58%, equivalent to 8.55% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> have been hammered in the past week to yield 5.56%, so the pre-tax interest-equivalent spread (in this context, the \u201cSeniority Spread\u201d) has declined to 300bp from the 320bp reported October 12<\/a>.<\/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>\n0.0810 %<\/td>\n2,375.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0810 %<\/td>\n4,556.6<\/td>\n<\/tr>\n
Floater<\/td>\n7.72 %<\/td>\n7.80 %<\/td>\n38,063<\/td>\n11.59<\/td>\n2<\/td>\n0.0810 %<\/td>\n2,626.0<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1338 %<\/td>\n3,365.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.99 %<\/td>\n6.65 %<\/td>\n38,255<\/td>\n3.04<\/td>\n7<\/td>\n-0.1338 %<\/td>\n4,019.4<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1338 %<\/td>\n3,136.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2053 %<\/td>\n2,614.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.51 %<\/td>\n6.58 %<\/td>\n69,523<\/td>\n13.07<\/td>\n33<\/td>\n-0.2053 %<\/td>\n2,850.6<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.31 %<\/td>\n7.56 %<\/td>\n88,144<\/td>\n12.17<\/td>\n63<\/td>\n0.3276 %<\/td>\n2,254.3<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.54 %<\/td>\n6.56 %<\/td>\n79,909<\/td>\n13.11<\/td>\n19<\/td>\n-1.3379 %<\/td>\n2,752.3<\/td>\n<\/tr>\n
FloatingReset<\/td>\n9.11 %<\/td>\n9.41 %<\/td>\n39,926<\/td>\n10.02<\/td>\n2<\/td>\n0.8873 %<\/td>\n2,491.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3276 %<\/td>\n2,385.8<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3276 %<\/td>\n2,304.3<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.49 %<\/td>\n7.91 %<\/td>\n47,137<\/td>\n11.63<\/td>\n14<\/td>\n-0.0290 %<\/td>\n2,287.7<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n-12.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.08
\nEvaluated at bid price : 17.08
\nBid-YTW : 7.42 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n-7.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 14.60
\nEvaluated at bid price : 14.60
\nBid-YTW : 9.81 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n-3.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.80
\nEvaluated at bid price : 17.80
\nBid-YTW : 8.03 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n-2.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.25
\nEvaluated at bid price : 18.25
\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n-2.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.80
\nEvaluated at bid price : 17.80
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n
PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\n-2.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 19.82
\nEvaluated at bid price : 19.82
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n-2.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 14.25
\nEvaluated at bid price : 14.25
\nBid-YTW : 9.24 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n-1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.35
\nEvaluated at bid price : 17.35
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n-1.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.31
\nEvaluated at bid price : 17.31
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n-1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.25
\nEvaluated at bid price : 18.25
\nBid-YTW : 6.73 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.64
\nEvaluated at bid price : 22.00
\nBid-YTW : 7.32 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nInsurance Straight<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
GWO.PR.S<\/td>\nInsurance Straight<\/td>\n-1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 19.70
\nEvaluated at bid price : 19.70
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 7.91 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.10
\nEvaluated at bid price : 18.10
\nBid-YTW : 8.16 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 16.75
\nEvaluated at bid price : 16.75
\nBid-YTW : 8.60 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 6.47 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nInsurance Straight<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.05
\nEvaluated at bid price : 18.05
\nBid-YTW : 6.73 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 12.76
\nEvaluated at bid price : 12.76
\nBid-YTW : 8.77 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n-1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.35
\nEvaluated at bid price : 18.35
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
PVS.PR.H<\/td>\nSplitShare<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2027-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.35
\nBid-YTW : 6.65 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 19.15
\nEvaluated at bid price : 19.15
\nBid-YTW : 7.60 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.19
\nEvaluated at bid price : 17.19
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
NA.PR.G<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.75
\nBid-YTW : 7.32 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 19.51
\nEvaluated at bid price : 19.51
\nBid-YTW : 7.53 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 15.80
\nEvaluated at bid price : 15.80
\nBid-YTW : 9.41 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 16.01
\nEvaluated at bid price : 16.01
\nBid-YTW : 9.15 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 7.64 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Disc<\/td>\n1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.35
\nEvaluated at bid price : 17.35
\nBid-YTW : 8.07 %<\/td>\n<\/tr>\n
BAM.PF.F<\/td>\nFixedReset Disc<\/td>\n1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.45
\nEvaluated at bid price : 17.45
\nBid-YTW : 8.96 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.38
\nEvaluated at bid price : 21.38
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.35
\nEvaluated at bid price : 17.35
\nBid-YTW : 7.83 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 19.85
\nEvaluated at bid price : 19.85
\nBid-YTW : 7.89 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 19.65
\nEvaluated at bid price : 19.65
\nBid-YTW : 7.32 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n2.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.90
\nEvaluated at bid price : 18.90
\nBid-YTW : 6.67 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n2.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.41
\nEvaluated at bid price : 21.73
\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n2.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 16.40
\nEvaluated at bid price : 16.40
\nBid-YTW : 10.07 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n2.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 7.36 %<\/td>\n<\/tr>\n
CM.PR.T<\/td>\nFixedReset Disc<\/td>\n2.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 23.18
\nEvaluated at bid price : 23.60
\nBid-YTW : 7.21 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n2.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.93
\nEvaluated at bid price : 22.46
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
TD.PF.K<\/td>\nFixedReset Disc<\/td>\n6.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.61
\nEvaluated at bid price : 22.00
\nBid-YTW : 7.05 %<\/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
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n71,422<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 16.01
\nEvaluated at bid price : 16.01
\nBid-YTW : 9.15 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n54,675<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.64
\nEvaluated at bid price : 22.00
\nBid-YTW : 7.32 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n53,760<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.65
\nEvaluated at bid price : 18.65
\nBid-YTW : 7.56 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n42,122<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 21.67
\nEvaluated at bid price : 22.06
\nBid-YTW : 6.93 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n42,068<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 18.68
\nEvaluated at bid price : 18.68
\nBid-YTW : 7.65 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n23,925<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 11.95
\nEvaluated at bid price : 11.95
\nBid-YTW : 9.35 %<\/td>\n<\/tr>\n
There were 13 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
RY.PR.J<\/td>\nFixedReset Disc<\/td>\nQuote: 19.85 – 22.15
\nSpot Rate : 2.3000
\nAverage : 1.4851<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 19.85
\nEvaluated at bid price : 19.85
\nBid-YTW : 7.48 %<\/td>\n<\/tr>\n

CCS.PR.C<\/td>\nInsurance Straight<\/td>\nQuote: 17.08 – 19.75
\nSpot Rate : 2.6700
\nAverage : 1.8857<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 17.08
\nEvaluated at bid price : 17.08
\nBid-YTW : 7.42 %<\/td>\n<\/tr>\n

MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\nQuote: 16.50 – 22.30
\nSpot Rate : 5.8000
\nAverage : 5.3285<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 8.56 %<\/td>\n<\/tr>\n

BAM.PF.E<\/td>\nFixedReset Disc<\/td>\nQuote: 14.60 – 16.10
\nSpot Rate : 1.5000
\nAverage : 1.1213<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 14.60
\nEvaluated at bid price : 14.60
\nBid-YTW : 9.81 %<\/td>\n<\/tr>\n

MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\nQuote: 20.50 – 22.51
\nSpot Rate : 2.0100
\nAverage : 1.6365<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 7.64 %<\/td>\n<\/tr>\n

PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.55 – 21.47
\nSpot Rate : 0.9200
\nAverage : 0.5668<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-10-19
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 6.73 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PerpetualDiscounts now yield 6.58%, equivalent to 8.55% interest at the standard equivalency factor of 1.3x. Long corporates have been hammered in the past week to yield 5.56%, so the pre-tax interest-equivalent spread (in this context, …<\/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-44281","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44281","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=44281"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44281\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}