{"id":44433,"date":"2022-11-25T23:35:13","date_gmt":"2022-11-26T04:35:13","guid":{"rendered":"https:\/\/prefblog.com\/?p=44433"},"modified":"2022-11-25T23:35:13","modified_gmt":"2022-11-26T04:35:13","slug":"november-25-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44433","title":{"rendered":"November 25, 2022"},"content":{"rendered":"

Tax-loss selling season is gearing up; there are some interesting changes occuring in relative valuation at the moment. Nothing huge, nothing widespread – but enough to be noticable and, I hope, profitable!<\/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>\n0.3313 %<\/td>\n2,328.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3313 %<\/td>\n4,466.2<\/td>\n<\/tr>\n
Floater<\/td>\n8.59 %<\/td>\n8.80 %<\/td>\n55,643<\/td>\n10.48<\/td>\n2<\/td>\n0.3313 %<\/td>\n2,573.9<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2401 %<\/td>\n3,284.1<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.18 %<\/td>\n7.19 %<\/td>\n47,052<\/td>\n2.80<\/td>\n8<\/td>\n0.2401 %<\/td>\n3,921.9<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2401 %<\/td>\n3,060.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.7179 %<\/td>\n2,637.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.46 %<\/td>\n6.59 %<\/td>\n88,595<\/td>\n13.07<\/td>\n34<\/td>\n0.7179 %<\/td>\n2,876.5<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.51 %<\/td>\n7.68 %<\/td>\n91,038<\/td>\n11.90<\/td>\n63<\/td>\n0.4115 %<\/td>\n2,186.2<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.37 %<\/td>\n6.55 %<\/td>\n95,093<\/td>\n13.06<\/td>\n18<\/td>\n0.6139 %<\/td>\n2,823.9<\/td>\n<\/tr>\n
FloatingReset<\/td>\n9.22 %<\/td>\n9.78 %<\/td>\n43,527<\/td>\n9.62<\/td>\n2<\/td>\n-0.6675 %<\/td>\n2,536.4<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.65 %<\/td>\n6.30 %<\/td>\n422,051<\/td>\n4.19<\/td>\n1<\/td>\n0.3937 %<\/td>\n2,373.3<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4115 %<\/td>\n2,234.8<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.48 %<\/td>\n7.74 %<\/td>\n46,573<\/td>\n12.07<\/td>\n14<\/td>\n0.1862 %<\/td>\n2,292.4<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 15.45
\nEvaluated at bid price : 15.45
\nBid-YTW : 8.92 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n-1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.68
\nEvaluated at bid price : 18.68
\nBid-YTW : 6.69 %<\/td>\n<\/tr>\n
PVS.PR.G<\/td>\nSplitShare<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2026-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.05
\nBid-YTW : 7.64 %<\/td>\n<\/tr>\n
PVS.PR.I<\/td>\nSplitShare<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.01
\nBid-YTW : 7.83 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 19.40
\nEvaluated at bid price : 19.40
\nBid-YTW : 7.71 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset Disc<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 14.85
\nEvaluated at bid price : 14.85
\nBid-YTW : 8.69 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 6.62 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.74
\nEvaluated at bid price : 17.74
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.05
\nEvaluated at bid price : 18.05
\nBid-YTW : 7.68 %<\/td>\n<\/tr>\n
PWF.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 22.28
\nEvaluated at bid price : 22.55
\nBid-YTW : 6.61 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.09
\nEvaluated at bid price : 18.09
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.50
\nBid-YTW : 7.19 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.44
\nEvaluated at bid price : 18.44
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.69
\nEvaluated at bid price : 17.69
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
PVS.PR.J<\/td>\nSplitShare<\/td>\n1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.00
\nBid-YTW : 7.19 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.75
\nEvaluated at bid price : 17.75
\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 15.60
\nEvaluated at bid price : 15.60
\nBid-YTW : 7.78 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nInsurance Straight<\/td>\n1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.75
\nEvaluated at bid price : 18.75
\nBid-YTW : 6.22 %<\/td>\n<\/tr>\n
ELF.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 6.61 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 20.45
\nEvaluated at bid price : 20.45
\nBid-YTW : 6.48 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.65
\nEvaluated at bid price : 17.65
\nBid-YTW : 6.42 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.58
\nEvaluated at bid price : 17.58
\nBid-YTW : 6.48 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 21.10
\nEvaluated at bid price : 21.10
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
RY.PR.O<\/td>\nPerpetual-Discount<\/td>\n2.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 21.10
\nEvaluated at bid price : 21.10
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n2.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 19.75
\nEvaluated at bid price : 19.75
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n6.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.14
\nEvaluated at bid price : 18.14
\nBid-YTW : 7.46 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n16.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 16.25
\nEvaluated at bid price : 16.25
\nBid-YTW : 8.67 %<\/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
GWO.PR.M<\/td>\nInsurance Straight<\/td>\n77,918<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 21.94
\nEvaluated at bid price : 22.17
\nBid-YTW : 6.66 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n45,051<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 15.70
\nEvaluated at bid price : 15.70
\nBid-YTW : 8.95 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Prem<\/td>\n36,300<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-11-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n33,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.07
\nEvaluated at bid price : 17.07
\nBid-YTW : 8.26 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Disc<\/td>\n32,900<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.61
\nBid-YTW : 6.57 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n27,284<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.65
\nEvaluated at bid price : 17.65
\nBid-YTW : 6.42 %<\/td>\n<\/tr>\n
There were 21 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
PVS.PR.I<\/td>\nSplitShare<\/td>\nQuote: 23.01 – 24.25
\nSpot Rate : 1.2400
\nAverage : 0.7264<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.01
\nBid-YTW : 7.83 %<\/td>\n<\/tr>\n

GWO.PR.Y<\/td>\nInsurance Straight<\/td>\nQuote: 17.74 – 19.05
\nSpot Rate : 1.3100
\nAverage : 0.8249<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.74
\nEvaluated at bid price : 17.74
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n

BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 18.65 – 19.65
\nSpot Rate : 1.0000
\nAverage : 0.5990<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 18.65
\nEvaluated at bid price : 18.65
\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n

PVS.PR.G<\/td>\nSplitShare<\/td>\nQuote: 23.05 – 23.84
\nSpot Rate : 0.7900
\nAverage : 0.5135<\/p>\n

YTW SCENARIO
\nMaturity Type : Option Certainty
\nMaturity Date\t: 2026-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.05
\nBid-YTW : 7.64 %<\/td>\n<\/tr>\n

BAM.PF.F<\/td>\nFixedReset Disc<\/td>\nQuote: 17.09 – 18.26
\nSpot Rate : 1.1700
\nAverage : 0.9391<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 17.09
\nEvaluated at bid price : 17.09
\nBid-YTW : 8.82 %<\/td>\n<\/tr>\n

MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\nQuote: 16.71 – 17.27
\nSpot Rate : 0.5600
\nAverage : 0.3641<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-11-25
\nMaturity Price : 16.71
\nEvaluated at bid price : 16.71
\nBid-YTW : 8.01 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Tax-loss selling season is gearing up; there are some interesting changes occuring in relative valuation at the moment. Nothing huge, nothing widespread – but enough to be noticable and, I hope, profitable! HIMIPref\u2122 Preferred Indices …<\/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-44433","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44433","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=44433"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44433\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}