{"id":44693,"date":"2023-01-25T20:06:04","date_gmt":"2023-01-26T01:06:04","guid":{"rendered":"https:\/\/prefblog.com\/?p=44693"},"modified":"2023-01-25T20:06:04","modified_gmt":"2023-01-26T01:06:04","slug":"january-25-2023","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44693","title":{"rendered":"January 25, 2023"},"content":{"rendered":"

\"\"<\/a><\/p>\n

TXPR closed at 576.60<\/a>, down 0.65% on the day. Volume today was 1.21-million, near the median of the past 21 trading days.<\/p>\n

CPD closed at 11.47<\/a>, down 0.78% on the day. Volume was 93,580, slightly below the median of the past 21 trading days.<\/p>\n

ZPR closed at 9.525<\/a>, down 0.16% on the day. Volume was 171,820, well below the median of the past 21 trading days.<\/p>\n

Five-year Canada yields were were down to 2.90%<\/a> today.<\/p>\n

The preferred market was weak all day, but it was a late day collapse that did the damage in our sector. More generally, pundits blamed earnings<\/a>:<\/p>\n

The S&P 500 ended nominally lower on Wednesday as a string of corporate earnings ran the gamut from downbeat to dismal, reviving worries over the economic impact of the U.S. Federal Reserve\u2019s restrictive policy. The TSX also closed with a modest loss, as market players took in what could be the final Bank of Canada rate hike for this monetary tightening cycle and began aggressively pricing in the possibility of interest rate cuts before year end.<\/p>\n

The S&P\/TSX Composite index and all three major U.S. stock indexes pared their losses throughout the afternoon to close well off session lows, with the blue-chip Dow eking out a small gain in the final minutes.<\/p>\n

The tech-laden Nasdaq was weighed down after Microsoft Corp, the first major technology firm to post quarterly results, offered dour guidance and raised red flags with respect to its megacap peers which have yet to report.
\n…<\/b>
\nInterest rate probabilities show about 89% odds of the bank making no change to its overnight rate at its next announcement on March 8, according to Refinitiv Eikon data.<\/p>\n

But following the bank\u2019s 10 am announcement and Monetary Policy Report, credit markets started making their most aggressive bets yet that the central bank\u2019s key lending rate will start coming down later this year as the bank shifts from inflation fighting to providing support to a slowing economy. They are now fully pricing in a 25 basis point cut by the Oct. 25 Bank of Canada meeting. And they are positioned for an overnight rate of 4.07% by the Dec. 6 meeting. That implies money markets are getting close to pricing in a 50 basis point cut in the overnight rate by the end of this year.<\/p><\/blockquote>\n

PerpetualDiscounts now yield 5.99%, equivalent to 7.79% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> yielded 4.89% on 2023-1-20 and since then the closing price has changed from 15.51 to 15.59, an increase of 52bp in price, with a Duration of 12.36 (BMO doesn’t specify whether this is Macaulay or Modified Duration; I will assume Modified) which implies a decline in yield of about 4bp since 1\/20 to 4.85%, so the pre-tax interest-equivalent spread (in this context, the \u201cSeniority Spread\u201d) has narrowed to about 295bp from the 305bp reported January 18<\/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>\n-0.7527 %<\/td>\n2,534.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.7527 %<\/td>\n4,860.7<\/td>\n<\/tr>\n
Floater<\/td>\n8.56 %<\/td>\n8.66 %<\/td>\n51,833<\/td>\n10.69<\/td>\n2<\/td>\n-0.7527 %<\/td>\n2,801.2<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1571 %<\/td>\n3,399.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.95 %<\/td>\n6.57 %<\/td>\n60,051<\/td>\n2.82<\/td>\n7<\/td>\n0.1571 %<\/td>\n4,059.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1571 %<\/td>\n3,167.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.5947 %<\/td>\n2,866.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.94 %<\/td>\n5.99 %<\/td>\n93,497<\/td>\n13.91<\/td>\n35<\/td>\n-0.5947 %<\/td>\n3,126.2<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.37 %<\/td>\n7.06 %<\/td>\n96,373<\/td>\n12.67<\/td>\n62<\/td>\n-0.6417 %<\/td>\n2,254.8<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.83 %<\/td>\n5.98 %<\/td>\n98,127<\/td>\n13.89<\/td>\n20<\/td>\n-0.2634 %<\/td>\n3,081.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n9.75 %<\/td>\n10.10 %<\/td>\n42,685<\/td>\n9.44<\/td>\n2<\/td>\n-1.0709 %<\/td>\n2,549.4<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.59 %<\/td>\n6.21 %<\/td>\n173,775<\/td>\n4.08<\/td>\n2<\/td>\n-0.0395 %<\/td>\n2,383.7<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.6417 %<\/td>\n2,304.9<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.45 %<\/td>\n7.01 %<\/td>\n53,408<\/td>\n12.82<\/td>\n14<\/td>\n-0.6550 %<\/td>\n2,370.1<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BN.PR.M<\/td>\nPerpetual-Discount<\/td>\n-9.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.80
\nEvaluated at bid price : 17.80
\nBid-YTW : 6.76 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-5.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 11.00
\nEvaluated at bid price : 11.00
\nBid-YTW : 8.72 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n-4.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n-3.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 16.85
\nEvaluated at bid price : 16.85
\nBid-YTW : 7.56 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n-3.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n-3.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 13.10
\nEvaluated at bid price : 13.10
\nBid-YTW : 7.76 %<\/td>\n<\/tr>\n
BN.PF.H<\/td>\nFixedReset Disc<\/td>\n-2.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 22.62
\nEvaluated at bid price : 23.29
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-2.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.42
\nEvaluated at bid price : 17.42
\nBid-YTW : 7.35 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n-2.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 7.01 %<\/td>\n<\/tr>\n
IAF.PR.B<\/td>\nInsurance Straight<\/td>\n-2.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 20.26
\nEvaluated at bid price : 20.26
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
BN.PF.F<\/td>\nFixedReset Disc<\/td>\n-2.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 8.39 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 11.90
\nEvaluated at bid price : 11.90
\nBid-YTW : 8.37 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n-1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 6.87 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.94 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.65
\nEvaluated at bid price : 17.65
\nBid-YTW : 7.17 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n-1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 7.13 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n-1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.15
\nEvaluated at bid price : 18.15
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n
GWO.PR.L<\/td>\nInsurance Straight<\/td>\n-1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 23.04
\nEvaluated at bid price : 23.31
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 14.37
\nEvaluated at bid price : 14.37
\nBid-YTW : 8.30 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n-1.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.80
\nEvaluated at bid price : 17.80
\nBid-YTW : 7.21 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.67
\nEvaluated at bid price : 17.67
\nBid-YTW : 7.18 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n-1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.43
\nEvaluated at bid price : 18.43
\nBid-YTW : 6.97 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 21.36
\nEvaluated at bid price : 21.65
\nBid-YTW : 6.60 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 7.00 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n-1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 19.70
\nEvaluated at bid price : 19.70
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 16.11
\nEvaluated at bid price : 16.11
\nBid-YTW : 10.10 %<\/td>\n<\/tr>\n
BN.PR.B<\/td>\nFloater<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 13.11
\nEvaluated at bid price : 13.11
\nBid-YTW : 8.76 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.75
\nEvaluated at bid price : 17.75
\nBid-YTW : 7.17 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 21.69
\nEvaluated at bid price : 22.08
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
BN.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 15.91
\nEvaluated at bid price : 15.91
\nBid-YTW : 7.54 %<\/td>\n<\/tr>\n
BN.PR.R<\/td>\nFixedReset Disc<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 14.69
\nEvaluated at bid price : 14.69
\nBid-YTW : 8.24 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Disc<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.03
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 22.00
\nEvaluated at bid price : 22.55
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.95
\nEvaluated at bid price : 17.95
\nBid-YTW : 7.17 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset Disc<\/td>\n1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 13.50
\nEvaluated at bid price : 13.50
\nBid-YTW : 7.54 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.32
\nEvaluated at bid price : 18.32
\nBid-YTW : 8.42 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n2.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 7.50 %<\/td>\n<\/tr>\n
NA.PR.G<\/td>\nFixedReset Disc<\/td>\n2.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 21.62
\nEvaluated at bid price : 22.01
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n4.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.26
\nEvaluated at bid price : 18.26
\nBid-YTW : 7.06 %<\/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
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n36,201<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 19.95
\nEvaluated at bid price : 19.95
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n33,588<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 6.84 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Prem<\/td>\n31,636<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 23.09
\nEvaluated at bid price : 24.75
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
CU.PR.J<\/td>\nPerpetual-Discount<\/td>\n27,387<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 20.19
\nEvaluated at bid price : 20.19
\nBid-YTW : 5.99 %<\/td>\n<\/tr>\n
TD.PF.M<\/td>\nFixedReset Disc<\/td>\n24,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 24.02
\nEvaluated at bid price : 24.38
\nBid-YTW : 6.60 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n20,211<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 21.84
\nEvaluated at bid price : 22.30
\nBid-YTW : 6.10 %<\/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
BN.PR.M<\/td>\nPerpetual-Discount<\/td>\nQuote: 17.80 – 19.70
\nSpot Rate : 1.9000
\nAverage : 1.1258<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.80
\nEvaluated at bid price : 17.80
\nBid-YTW : 6.76 %<\/td>\n<\/tr>\n

BN.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 18.45 – 20.80
\nSpot Rate : 2.3500
\nAverage : 1.7003<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n

MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\nQuote: 17.42 – 18.40
\nSpot Rate : 0.9800
\nAverage : 0.5905<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 17.42
\nEvaluated at bid price : 17.42
\nBid-YTW : 7.35 %<\/td>\n<\/tr>\n

CM.PR.Y<\/td>\nFixedReset Disc<\/td>\nQuote: 24.04 – 24.99
\nSpot Rate : 0.9500
\nAverage : 0.6572<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 23.64
\nEvaluated at bid price : 24.04
\nBid-YTW : 6.73 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset Disc<\/td>\nQuote: 11.00 – 12.06
\nSpot Rate : 1.0600
\nAverage : 0.7713<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 11.00
\nEvaluated at bid price : 11.00
\nBid-YTW : 8.72 %<\/td>\n<\/tr>\n

RY.PR.H<\/td>\nFixedReset Disc<\/td>\nQuote: 18.15 – 18.75
\nSpot Rate : 0.6000
\nAverage : 0.3558<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-01-25
\nMaturity Price : 18.15
\nEvaluated at bid price : 18.15
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TXPR closed at 576.60, down 0.65% on the day. Volume today was 1.21-million, near the median of the past 21 trading days. CPD closed at 11.47, down 0.78% on the day. Volume was 93,580, slightly …<\/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-44693","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44693","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=44693"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44693\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}