{"id":46088,"date":"2023-12-01T20:57:40","date_gmt":"2023-12-02T01:57:40","guid":{"rendered":"https:\/\/prefblog.com\/?p=46088"},"modified":"2023-12-01T20:57:40","modified_gmt":"2023-12-02T01:57:40","slug":"december-1-2023","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=46088","title":{"rendered":"December 1, 2023"},"content":{"rendered":"<p>Plunging rate expectations are well illustrated by this <a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/us-bond-investors-brace-fed-rate-cuts-2024-2023-11-30\/\">chart from Reuters<\/a>:<\/p>\n<div align=\"center\"><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2023\/12\/rateExpectations_231201.png\"><img decoding=\"async\" src=\"https:\/\/prefblog.com\/wp-content\/uploads\/2023\/12\/rateExpectations_231201.png\" width=\"400\"><\/a><\/div>\n<p>Rate Expectations &#8230; isn&#8217;t there a novel with that title?<\/p>\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>0.5345 %<\/td>\n<td>2,180.9<\/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>0.5345 %<\/td>\n<td>4,182.9<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>11.17 %<\/td>\n<td>11.52 %<\/td>\n<td>50,411<\/td>\n<td>8.34<\/td>\n<td>2<\/td>\n<td>0.5345 %<\/td>\n<td>2,410.6<\/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>0.2283 %<\/td>\n<td>3,374.2<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.98 %<\/td>\n<td>7.20 %<\/td>\n<td>54,347<\/td>\n<td>1.81<\/td>\n<td>8<\/td>\n<td>0.2283 %<\/td>\n<td>4,029.5<\/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>0.2283 %<\/td>\n<td>3,144.0<\/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>0.3322 %<\/td>\n<td>2,537.8<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>6.73 %<\/td>\n<td>6.92 %<\/td>\n<td>52,233<\/td>\n<td>12.62<\/td>\n<td>33<\/td>\n<td>0.3322 %<\/td>\n<td>2,767.4<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>5.79 %<\/td>\n<td>7.91 %<\/td>\n<td>125,155<\/td>\n<td>11.79<\/td>\n<td>55<\/td>\n<td>0.3028 %<\/td>\n<td>2,230.2<\/td>\n<\/tr>\n<tr>\n<td>Insurance Straight<\/td>\n<td>6.55 %<\/td>\n<td>6.75 %<\/td>\n<td>66,814<\/td>\n<td>12.96<\/td>\n<td>19<\/td>\n<td>0.0166 %<\/td>\n<td>2,752.2<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>10.47 %<\/td>\n<td>10.50 %<\/td>\n<td>35,587<\/td>\n<td>9.24<\/td>\n<td>1<\/td>\n<td>1.1039 %<\/td>\n<td>2,504.3<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Prem<\/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>0.3028 %<\/td>\n<td>2,521.4<\/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>0.3028 %<\/td>\n<td>2,279.7<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>5.64 %<\/td>\n<td>7.53 %<\/td>\n<td>81,066<\/td>\n<td>12.27<\/td>\n<td>14<\/td>\n<td>0.2611 %<\/td>\n<td>2,520.1<\/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>RY.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-9.17 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.71<br \/>\nEvaluated at bid price : 19.71<br \/>\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>-3.95 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.75<br \/>\nEvaluated at bid price : 17.75<br \/>\nBid-YTW : 8.38 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.57 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 20.07<br \/>\nEvaluated at bid price : 20.07<br \/>\nBid-YTW : 8.24 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.50<br \/>\nEvaluated at bid price : 19.50<br \/>\nBid-YTW : 8.36 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.28 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 13.16<br \/>\nEvaluated at bid price : 13.16<br \/>\nBid-YTW : 8.96 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.H<\/td>\n<td>Insurance Straight<\/td>\n<td>-1.27 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.81<br \/>\nEvaluated at bid price : 17.81<br \/>\nBid-YTW : 6.82 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.F<\/td>\n<td>Insurance Straight<\/td>\n<td>-1.19 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.88<br \/>\nEvaluated at bid price : 19.88<br \/>\nBid-YTW : 6.81 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.H<\/td>\n<td>SplitShare<\/td>\n<td>-1.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2027-02-28<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.00<br \/>\nBid-YTW : 7.54 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.12<br \/>\nEvaluated at bid price : 19.12<br \/>\nBid-YTW : 6.97 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.01 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 14.00<br \/>\nEvaluated at bid price : 14.00<br \/>\nBid-YTW : 9.70 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.S<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.03 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.60<br \/>\nEvaluated at bid price : 17.60<br \/>\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 20.11<br \/>\nEvaluated at bid price : 20.11<br \/>\nBid-YTW : 9.21 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.I<\/td>\n<td>SplitShare<\/td>\n<td>1.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-10-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.90<br \/>\nBid-YTW : 7.25 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.10 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 18.35<br \/>\nEvaluated at bid price : 18.35<br \/>\nBid-YTW : 7.89 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.J<\/td>\n<td>FloatingReset<\/td>\n<td>1.10 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 15.57<br \/>\nEvaluated at bid price : 15.57<br \/>\nBid-YTW : 10.50 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.16 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 21.47<br \/>\nEvaluated at bid price : 21.75<br \/>\nBid-YTW : 7.15 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.18 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.20<br \/>\nEvaluated at bid price : 17.20<br \/>\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.18 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 22.34<br \/>\nEvaluated at bid price : 23.13<br \/>\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.21 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 16.74<br \/>\nEvaluated at bid price : 16.74<br \/>\nBid-YTW : 7.26 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.31 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 18.50<br \/>\nEvaluated at bid price : 18.50<br \/>\nBid-YTW : 6.68 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.K<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.40 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 18.10<br \/>\nEvaluated at bid price : 18.10<br \/>\nBid-YTW : 6.94 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.51 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 18.78<br \/>\nEvaluated at bid price : 18.78<br \/>\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.F<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.54 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 14.50<br \/>\nEvaluated at bid price : 14.50<br \/>\nBid-YTW : 7.83 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.J<\/td>\n<td>SplitShare<\/td>\n<td>1.59 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2028-02-29<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.35<br \/>\nBid-YTW : 7.37 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.O<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.62 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 21.36<br \/>\nEvaluated at bid price : 21.36<br \/>\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.62 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 15.70<br \/>\nEvaluated at bid price : 15.70<br \/>\nBid-YTW : 9.79 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.M<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.75 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 16.85<br \/>\nEvaluated at bid price : 16.85<br \/>\nBid-YTW : 7.21 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.83 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 21.87<br \/>\nEvaluated at bid price : 22.30<br \/>\nBid-YTW : 6.95 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.X<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 14.40<br \/>\nEvaluated at bid price : 14.40<br \/>\nBid-YTW : 9.20 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.63 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 18.70<br \/>\nEvaluated at bid price : 18.70<br \/>\nBid-YTW : 9.39 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.W<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.72 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 18.15<br \/>\nEvaluated at bid price : 18.15<br \/>\nBid-YTW : 7.91 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PF.A<\/td>\n<td>Perpetual-Discount<\/td>\n<td>2.81 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.17<br \/>\nEvaluated at bid price : 17.17<br \/>\nBid-YTW : 6.65 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.78 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.20<br \/>\nEvaluated at bid price : 19.20<br \/>\nBid-YTW : 8.73 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>4.48 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 15.16<br \/>\nEvaluated at bid price : 15.16<br \/>\nBid-YTW : 9.79 %<\/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>BN.PF.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>93,294<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 20.11<br \/>\nEvaluated at bid price : 20.11<br \/>\nBid-YTW : 9.21 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>40,116<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 13.06<br \/>\nEvaluated at bid price : 13.06<br \/>\nBid-YTW : 9.03 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>37,625<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 16.74<br \/>\nEvaluated at bid price : 16.74<br \/>\nBid-YTW : 7.26 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>35,549<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.70<br \/>\nEvaluated at bid price : 17.70<br \/>\nBid-YTW : 8.25 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>27,927<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.36<br \/>\nEvaluated at bid price : 19.36<br \/>\nBid-YTW : 7.77 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.Z<\/td>\n<td>FixedReset Disc<\/td>\n<td>26,867<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.80<br \/>\nEvaluated at bid price : 19.80<br \/>\nBid-YTW : 7.33 %<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\">There were 16 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>BN.PR.X<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 14.40 &#8211; 16.30<br \/>\nSpot Rate  :  1.9000<br \/>\nAverage  :  1.0703<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 14.40<br \/>\nEvaluated at bid price : 14.40<br \/>\nBid-YTW : 9.20 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.N<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 19.71 &#8211; 21.65<br \/>\nSpot Rate  :  1.9400<br \/>\nAverage  :  1.1955<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 19.71<br \/>\nEvaluated at bid price : 19.71<br \/>\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 17.75 &#8211; 18.75<br \/>\nSpot Rate  :  1.0000<br \/>\nAverage  :  0.7062<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.75<br \/>\nEvaluated at bid price : 17.75<br \/>\nBid-YTW : 8.38 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 17.00 &#8211; 18.30<br \/>\nSpot Rate  :  1.3000<br \/>\nAverage  :  1.0099<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 17.00<br \/>\nEvaluated at bid price : 17.00<br \/>\nBid-YTW : 9.48 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.D<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 18.97 &#8211; 19.97<br \/>\nSpot Rate  :  1.0000<br \/>\nAverage  :  0.7453<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 18.97<br \/>\nEvaluated at bid price : 18.97<br \/>\nBid-YTW : 8.01 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 20.07 &#8211; 21.16<br \/>\nSpot Rate  :  1.0900<br \/>\nAverage  :  0.8989<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2053-12-01<br \/>\nMaturity Price  : 20.07<br \/>\nEvaluated at bid price : 20.07<br \/>\nBid-YTW : 8.24 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Plunging rate expectations are well illustrated by this chart from Reuters: Rate Expectations &#8230; isn&#8217;t there a novel with that title? HIMIPref\u2122 Preferred Indices These values reflect the December 2008 revision of the HIMIPref\u2122 Indices &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-46088","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46088","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=46088"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46088\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}