{"id":45025,"date":"2023-03-23T18:32:32","date_gmt":"2023-03-23T23:32:32","guid":{"rendered":"https:\/\/prefblog.com\/?p=45025"},"modified":"2023-03-23T18:32:32","modified_gmt":"2023-03-23T23:32:32","slug":"march-23-2023","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=45025","title":{"rendered":"March 23, 2023"},"content":{"rendered":"

The Bank of England hiked its rate 25bp to 4.25%<\/a> today:<\/p>\n

Consumer prices rose 10.4 percent in February from a year earlier, up from 10.1 percent the month before, ending a three-month downward trend and stubbornly keeping inflation in the double digits, according to data from the Office for National Statistics published on Wednesday.
\n…<\/b>
\nEarlier on Thursday, the Swiss National Bank, the country\u2019s central bank, raised interest rates by half a percentage point, to 1.5 percent, to counter \u201cthe renewed increase in inflationary pressures\u201d in Switzerland.
\n…<\/b>
\nThe Bank of England forecast that the inflation rate would fall significantly this year, and average about 4 percent around the end of the year. In fact, inflation should fall more than expected in the second quarter of this year because of the government\u2019s decision to extend its subsidy for household energy bills for an additional three months to the end of June. And wage growth has been weaker than expected, easing policymakers\u2019 concerns that high wages in the private sector would make it harder to return inflation to the bank\u2019s 2 percent target.
\n…<\/b>
\nAndrew Bailey, the governor of the central bank, told reporters after last month\u2019s meeting that there had been a \u201cturning of the corner\u201d on inflation but warned \u201cit\u2019s very early days, and the risks are very large.\u201d<\/p>\n

To some extent, those risks materialized in the surprising upturn in Wednesday\u2019s data, which showed food prices rising in February at their fastest pace in 45 years and a measure of services inflation increasing. This week\u2019s meeting showed the challenge the bank faces in determining the path of inflation.<\/p>\n

The increase in inflation, which was 0.6 percentage points higher last month than the central bank expected, came from rising food prices and higher prices for goods, namely clothing and footwear.<\/p><\/blockquote>\n

Speaking of rising wages, Christine Lagarde had a few words yesterday<\/a>:<\/p>\n

For the seven countries covered by the ECB\u2019s wage tracker, collective bargaining during 2022 led to an aggregate wage rise of 4.7% for this year. This is already playing a stronger role in core inflation. While wage-sensitive items contributed only around 0.5 percentage points to core inflation before the pandemic, that contribution has more than doubled in recent months.<\/p>\n

If both workers and firms accept fair burden sharing, and stronger wage growth represents merely a rebalancing between labour and capital, then both wage and price pressures should diminish as this process plays out. But if both parties attempt to unilaterally minimise their losses, we could see a feedback mechanism between higher profit margins, wages and prices.<\/p>\n

The risk of such a \u201ctit-for-tat\u201d dynamic is also heightened by the prospect that labour market tightness will
\nlinger.<\/p>\n

Unlike other jurisdictions, labour participation in the euro area has grown robustly since last year, helping to address part of the soaring labour demand driven by reopening. But the pandemic has also led to a sharp increase in public employment, reducing the pool of labour available to the private sector. And how much further labour supply can expand overall will depend, among other things, on complex policy questions such as countries\u2019 attitudes to immigration and childcare.<\/p>\n

At the same time, the unemployment rate is at a historical low and, in some countries, it is so low that it
\nwill be increasingly difficult to recruit from the remaining pool of labour.<\/p>\n

All this means that we could see a more prolonged cost-push shock coming from wage growth. This is unlikely to prevent goods disinflation, since wages represent only around 20% of direct input costs for manufacturing firms. But wages make up around 40% of direct input costs for services providers, and services inflation accounts for almost two-thirds of core inflation.<\/p>\n

In parallel, firms\u2019 profit margins continue to grow, in part because some are taking advantage of supply-demand imbalances to test consumer demand with large price increases \u2013 over and above their increase in costs. But in the absence of a persistent rise in market power, this can only continue insofar as demand remains resilient. Otherwise, firms will have to absorb cost increases in margins and price pressures will start to ease.<\/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>\n-0.0400 %<\/td>\n2,402.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0400 %<\/td>\n4,608.2<\/td>\n<\/tr>\n
Floater<\/td>\n9.38 %<\/td>\n9.45 %<\/td>\n52,339<\/td>\n10.02<\/td>\n2<\/td>\n-0.0400 %<\/td>\n2,655.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3907 %<\/td>\n3,318.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.07 %<\/td>\n7.42 %<\/td>\n53,771<\/td>\n2.69<\/td>\n7<\/td>\n0.3907 %<\/td>\n3,963.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3907 %<\/td>\n3,092.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0414 %<\/td>\n2,760.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.18 %<\/td>\n6.31 %<\/td>\n58,891<\/td>\n13.40<\/td>\n35<\/td>\n-0.0414 %<\/td>\n3,010.0<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.72 %<\/td>\n7.49 %<\/td>\n97,295<\/td>\n12.07<\/td>\n61<\/td>\n-0.0215 %<\/td>\n2,148.3<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.10 %<\/td>\n6.15 %<\/td>\n74,032<\/td>\n13.73<\/td>\n20<\/td>\n0.2374 %<\/td>\n2,944.1<\/td>\n<\/tr>\n
FloatingReset<\/td>\n10.00 %<\/td>\n10.33 %<\/td>\n32,194<\/td>\n9.32<\/td>\n2<\/td>\n0.0984 %<\/td>\n2,478.0<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.57 %<\/td>\n6.42 %<\/td>\n238,962<\/td>\n12.82<\/td>\n2<\/td>\n0.5952 %<\/td>\n2,353.0<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0215 %<\/td>\n2,196.0<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.64 %<\/td>\n7.20 %<\/td>\n82,576<\/td>\n12.32<\/td>\n13<\/td>\n-0.3815 %<\/td>\n2,341.3<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-7.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 10.01
\nEvaluated at bid price : 10.01
\nBid-YTW : 9.56 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-2.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.52
\nEvaluated at bid price : 16.52
\nBid-YTW : 7.23 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n-2.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.60
\nEvaluated at bid price : 16.60
\nBid-YTW : 7.65 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Discount<\/td>\n-2.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.76
\nEvaluated at bid price : 22.01
\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n
CM.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 22.96
\nEvaluated at bid price : 23.42
\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 11.12
\nEvaluated at bid price : 11.12
\nBid-YTW : 9.04 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\n-1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.40
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n
BN.PF.F<\/td>\nFixedReset Disc<\/td>\n-1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.29
\nEvaluated at bid price : 16.29
\nBid-YTW : 8.73 %<\/td>\n<\/tr>\n
BIK.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 22.54
\nEvaluated at bid price : 23.05
\nBid-YTW : 7.49 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 17.15
\nEvaluated at bid price : 17.15
\nBid-YTW : 7.82 %<\/td>\n<\/tr>\n
BN.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 14.66
\nEvaluated at bid price : 14.66
\nBid-YTW : 8.13 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 12.60
\nEvaluated at bid price : 12.60
\nBid-YTW : 7.95 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.80
\nEvaluated at bid price : 16.80
\nBid-YTW : 7.67 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.05
\nEvaluated at bid price : 21.05
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.67
\nEvaluated at bid price : 16.67
\nBid-YTW : 9.21 %<\/td>\n<\/tr>\n
TD.PF.M<\/td>\nFixedReset Disc<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 23.45
\nEvaluated at bid price : 23.90
\nBid-YTW : 6.81 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 18.66
\nEvaluated at bid price : 18.66
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
CU.PR.J<\/td>\nPerpetual-Discount<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 19.20
\nEvaluated at bid price : 19.20
\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n
GWO.PR.T<\/td>\nInsurance Straight<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.96
\nEvaluated at bid price : 20.96
\nBid-YTW : 6.18 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.80
\nEvaluated at bid price : 21.80
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 22.25
\nEvaluated at bid price : 22.91
\nBid-YTW : 6.44 %<\/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 : 7.39 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 18.05
\nEvaluated at bid price : 18.05
\nBid-YTW : 7.37 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nInsurance Straight<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.85
\nEvaluated at bid price : 20.85
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 18.50
\nEvaluated at bid price : 18.50
\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.05
\nEvaluated at bid price : 20.05
\nBid-YTW : 6.84 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 6.95 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 15.38
\nEvaluated at bid price : 15.38
\nBid-YTW : 8.71 %<\/td>\n<\/tr>\n
MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.94
\nEvaluated at bid price : 21.94
\nBid-YTW : 6.47 %<\/td>\n<\/tr>\n
BMO.PR.F<\/td>\nFixedReset Disc<\/td>\n2.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 22.89
\nEvaluated at bid price : 23.39
\nBid-YTW : 6.90 %<\/td>\n<\/tr>\n
BN.PF.I<\/td>\nFixedReset Disc<\/td>\n2.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 7.84 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nInsurance Straight<\/td>\n2.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n3.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 18.30
\nEvaluated at bid price : 18.30
\nBid-YTW : 7.43 %<\/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
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n31,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 6.95 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n19,660<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 19.65
\nEvaluated at bid price : 19.65
\nBid-YTW : 7.52 %<\/td>\n<\/tr>\n
BN.PF.I<\/td>\nFixedReset Disc<\/td>\n19,325<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 7.84 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\n13,400<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.40
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n12,342<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 7.42 %<\/td>\n<\/tr>\n
FTS.PR.M<\/td>\nFixedReset Disc<\/td>\n11,675<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.85
\nEvaluated at bid price : 16.85
\nBid-YTW : 7.94 %<\/td>\n<\/tr>\n
There were 4 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
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\nQuote: 17.54 – 19.27
\nSpot Rate : 1.7300
\nAverage : 1.1019<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 17.54
\nEvaluated at bid price : 17.54
\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n

TRP.PR.E<\/td>\nFixedReset Disc<\/td>\nQuote: 15.15 – 17.45
\nSpot Rate : 2.3000
\nAverage : 1.6904<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 15.15
\nEvaluated at bid price : 15.15
\nBid-YTW : 8.66 %<\/td>\n<\/tr>\n

BMO.PR.T<\/td>\nFixedReset Disc<\/td>\nQuote: 16.71 – 17.95
\nSpot Rate : 1.2400
\nAverage : 0.8352<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.71
\nEvaluated at bid price : 16.71
\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset Disc<\/td>\nQuote: 10.01 – 10.74
\nSpot Rate : 0.7300
\nAverage : 0.5144<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 10.01
\nEvaluated at bid price : 10.01
\nBid-YTW : 9.56 %<\/td>\n<\/tr>\n

IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\nQuote: 16.52 – 17.08
\nSpot Rate : 0.5600
\nAverage : 0.3804<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 16.52
\nEvaluated at bid price : 16.52
\nBid-YTW : 7.23 %<\/td>\n<\/tr>\n

POW.PR.B<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.40 – 21.87
\nSpot Rate : 0.4700
\nAverage : 0.3406<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2053-03-23
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.40
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Bank of England hiked its rate 25bp to 4.25% today: Consumer prices rose 10.4 percent in February from a year earlier, up from 10.1 percent the month before, ending a three-month downward trend and …<\/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-45025","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/45025","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=45025"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/45025\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}