{"id":45404,"date":"2023-06-16T20:32:02","date_gmt":"2023-06-17T01:32:02","guid":{"rendered":"https:\/\/prefblog.com\/?p=45404"},"modified":"2023-06-16T20:32:02","modified_gmt":"2023-06-17T01:32:02","slug":"june-16-2023","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=45404","title":{"rendered":"June 16, 2023"},"content":{"rendered":"<p>The New York Fed released its <a href=\"https:\/\/www.newyorkfed.org\/research\/policy\/underlying-inflation-gauge\">Underlying Inflation Gauge<\/a> update today:<\/p>\n<blockquote>\n<ul>\n<li>The UIG &#8220;full data set&#8221; measure for May is currently estimated at 3.5%, a 0.5 percentage point decrease from the current estimate of the previous month.<\/li>\n<li>The &#8220;prices-only&#8221; measure for May is currently estimated at 3.0%, a 0.4 percentage point decrease from the current estimate of the previous month.<\/li>\n<li>The twelve-month change in the May CPI was +4.0%, a 0.9 percentage point decrease from the previous month.\n<ul>\n<li>-For May 2023, trend CPI inflation is estimated to be in the 3.0% to 3.5% range, a lower and slightly narrower range than April, with a 0.4 percentage point decrease on its lower bound and a 0.5 percentage point decrease on its upper bound.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/blockquote>\n<table border=\"1\">\n<tbody>\n<tr>\n<td colspan=\"8\"><strong>HIMIPref\u2122 Preferred Indices<br \/>\nThese values reflect the December 2008 revision of the HIMIPref\u2122 Indices<\/strong><br \/>\nValues are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>\nCurrent<br \/>\nYield<br \/>\n(at bid)<\/td>\n<td>Median<br \/>\nYTW<\/td>\n<td>Median<br \/>\nAverage<br \/>\nTrading<br \/>\nValue<\/td>\n<td>Median<br \/>\nMod Dur<br \/>\n(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.8889 %<\/td>\n<td>2,192.5<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.8889 %<\/td>\n<td>4,205.1<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>10.72 %<\/td>\n<td>10.80 %<\/td>\n<td>46,987<\/td>\n<td>8.99<\/td>\n<td>1<\/td>\n<td>0.8889 %<\/td>\n<td>2,423.4<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.1962 %<\/td>\n<td>3,283.0<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>5.11 %<\/td>\n<td>8.13 %<\/td>\n<td>41,764<\/td>\n<td>2.21<\/td>\n<td>6<\/td>\n<td>-0.1962 %<\/td>\n<td>3,920.6<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.1962 %<\/td>\n<td>3,059.0<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.2684 %<\/td>\n<td>2,627.8<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>6.49 %<\/td>\n<td>6.68 %<\/td>\n<td>40,138<\/td>\n<td>12.90<\/td>\n<td>31<\/td>\n<td>-0.2684 %<\/td>\n<td>2,865.5<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>5.83 %<\/td>\n<td>8.35 %<\/td>\n<td>85,145<\/td>\n<td>11.29<\/td>\n<td>63<\/td>\n<td>-0.0061 %<\/td>\n<td>2,139.8<\/td>\n<\/tr>\n<tr>\n<td>Insurance Straight<\/td>\n<td>6.41 %<\/td>\n<td>6.49 %<\/td>\n<td>54,903<\/td>\n<td>13.28<\/td>\n<td>19<\/td>\n<td>-0.1628 %<\/td>\n<td>2,807.1<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>11.31 %<\/td>\n<td>10.86 %<\/td>\n<td>27,037<\/td>\n<td>8.95<\/td>\n<td>2<\/td>\n<td>0.4103 %<\/td>\n<td>2,383.8<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Prem<\/td>\n<td>6.96 %<\/td>\n<td>6.98 %<\/td>\n<td>276,296<\/td>\n<td>3.75<\/td>\n<td>1<\/td>\n<td>0.0000 %<\/td>\n<td>2,322.8<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Bank Non<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.0061 %<\/td>\n<td>2,187.3<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>6.06 %<\/td>\n<td>7.68 %<\/td>\n<td>88,874<\/td>\n<td>11.77<\/td>\n<td>9<\/td>\n<td>0.1327 %<\/td>\n<td>2,343.5<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"1\">\n<tbody>\n<tr>\n<td colspan=\"4\"><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>MIC.PR.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-4.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 19.19<br \/>\nEvaluated at bid price : 19.19<br \/>\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.91 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 20.00<br \/>\nEvaluated at bid price : 20.00<br \/>\nBid-YTW : 7.79 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.32 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 13.92<br \/>\nEvaluated at bid price : 13.92<br \/>\nBid-YTW : 10.52 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 20.70<br \/>\nEvaluated at bid price : 20.70<br \/>\nBid-YTW : 8.14 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.K<\/td>\n<td>SplitShare<\/td>\n<td>-2.11 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2029-05-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 20.90<br \/>\nBid-YTW : 8.04 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.O<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.74 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 21.50<br \/>\nEvaluated at bid price : 21.50<br \/>\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Insurance Straight<\/td>\n<td>-1.73 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 19.37<br \/>\nEvaluated at bid price : 19.37<br \/>\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.O<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.14 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 17.30<br \/>\nEvaluated at bid price : 17.30<br \/>\nBid-YTW : 8.57 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.J<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.09 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 18.20<br \/>\nEvaluated at bid price : 18.20<br \/>\nBid-YTW : 6.60 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 17.40<br \/>\nEvaluated at bid price : 17.40<br \/>\nBid-YTW : 8.34 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.K<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 18.76<br \/>\nEvaluated at bid price : 18.76<br \/>\nBid-YTW : 6.72 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.Z<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.05 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 19.30<br \/>\nEvaluated at bid price : 19.30<br \/>\nBid-YTW : 8.46 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.L<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 23.18<br \/>\nEvaluated at bid price : 23.78<br \/>\nBid-YTW : 7.36 %<\/td>\n<\/tr>\n<tr>\n<td>ELF.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.22 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 20.80<br \/>\nEvaluated at bid price : 20.80<br \/>\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.36 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 18.65<br \/>\nEvaluated at bid price : 18.65<br \/>\nBid-YTW : 7.96 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.61 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 12.62<br \/>\nEvaluated at bid price : 12.62<br \/>\nBid-YTW : 9.22 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.82 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 19.06<br \/>\nEvaluated at bid price : 19.06<br \/>\nBid-YTW : 8.75 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.89 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 13.45<br \/>\nEvaluated at bid price : 13.45<br \/>\nBid-YTW : 10.00 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"1\">\n<tbody>\n<tr>\n<td colspan=\"4\"><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>\nTraded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.M<\/td>\n<td>FixedReset Disc<\/td>\n<td>102,300<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 16.66<br \/>\nEvaluated at bid price : 16.66<br \/>\nBid-YTW : 9.06 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.W<\/td>\n<td>FixedReset Disc<\/td>\n<td>52,035<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 17.01<br \/>\nEvaluated at bid price : 17.01<br \/>\nBid-YTW : 8.54 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.K<\/td>\n<td>FixedReset Disc<\/td>\n<td>36,700<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 21.70<br \/>\nEvaluated at bid price : 22.10<br \/>\nBid-YTW : 7.20 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>25,000<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 17.00<br \/>\nEvaluated at bid price : 17.00<br \/>\nBid-YTW : 8.52 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>21,496<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 16.07<br \/>\nEvaluated at bid price : 16.07<br \/>\nBid-YTW : 9.75 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>13,700<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 13.02<br \/>\nEvaluated at bid price : 13.02<br \/>\nBid-YTW : 10.30 %<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\">There were 2 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"1\">\n<tbody>\n<tr>\n<td colspan=\"3\"><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 17.94 &#8211; 22.72<br \/>\nSpot Rate  :  4.7800<br \/>\nAverage  :  2.9671<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 17.94<br \/>\nEvaluated at bid price : 17.94<br \/>\nBid-YTW : 8.28 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.F<\/td>\n<td>Insurance Straight<\/td>\n<td>Quote: 21.50 &#8211; 23.50<br \/>\nSpot Rate  :  2.0000<br \/>\nAverage  :  1.3650<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 21.50<br \/>\nEvaluated at bid price : 21.50<br \/>\nBid-YTW : 6.19 %<\/td>\n<\/tr>\n<tr>\n<td>MIC.PR.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 19.19 &#8211; 20.25<br \/>\nSpot Rate  :  1.0600<br \/>\nAverage  :  0.7861<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 19.19<br \/>\nEvaluated at bid price : 19.19<br \/>\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 18.06 &#8211; 19.00<br \/>\nSpot Rate  :  0.9400<br \/>\nAverage  :  0.7332<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 18.06<br \/>\nEvaluated at bid price : 18.06<br \/>\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.G<\/td>\n<td>SplitShare<\/td>\n<td>Quote: 22.80 &#8211; 23.75<br \/>\nSpot Rate  :  0.9500<br \/>\nAverage  :  0.7674<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Option Certainty<br \/>\nMaturity Date\t: 2026-02-28<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.80<br \/>\nBid-YTW : 8.72 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 13.92 &#8211; 14.70<br \/>\nSpot Rate  :  0.7800<br \/>\nAverage  :  0.5992<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-06-16<br \/>\nMaturity Price  : 13.92<br \/>\nEvaluated at bid price : 13.92<br \/>\nBid-YTW : 10.52 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The New York Fed released its Underlying Inflation Gauge update today: The UIG &#8220;full data set&#8221; measure for May is currently estimated at 3.5%, a 0.5 percentage point decrease from the current estimate of the &hellip;<\/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-45404","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/45404","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=45404"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/45404\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}