{"id":46233,"date":"2024-01-03T20:54:05","date_gmt":"2024-01-04T01:54:05","guid":{"rendered":"https:\/\/prefblog.com\/?p=46233"},"modified":"2024-01-03T20:54:05","modified_gmt":"2024-01-04T01:54:05","slug":"january-3-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=46233","title":{"rendered":"January 3, 2024"},"content":{"rendered":"
<\/a><\/div>\n

TXPR closed at 544.96<\/a>, up 0.64% on the day. Volume today was 1.26-million, third-lowest of the past 21 trading days.<\/p>\n

CPD closed at 10.84<\/a>, up 0.84% on the day. Volume was 119,330, slightly below the median of the past 21 trading days.<\/p>\n

ZPR closed at 9.17<\/a>, up 0.66% on the day. Volume was 54,700, lowest of the past 21 trading days.<\/p>\n

Five-year Canada yields were up to 3.28%<\/a>.<\/p>\n

The pundits have a pat answer for today’s action in major markets<\/a>:<\/p>\n

U.S. and Canadian stock indexes ended the second session of the year down again in extended profit-taking on Wednesday after a strong finish to 2023, with minutes from the Federal Reserve\u2019s December meeting failing to shake off the funk hanging over markets.<\/p>\n

It was the first time the benchmark S&P 500 index has started the year with two straight declines since it kicked off 2015 with a three-session skid. It is also its worst two-day performance, on a percentage basis, since late-October.<\/p>\n

The decline contrasts with the blistering run for all three major Wall Street benchmarks in the final two months of the year. The S&P 500 came within striking distance of its all-time closing high last week as signs of cooling inflation spurred investors to bet on an aggressive rate-cutting schedule.
\n…<\/b>
\nAs of Wednesday, implied probabilities in interest rate swaps markets suggest the Bank of Canada will start cutting interest rates in April, with 125 basis points of cuts priced in by the end of this year.<\/p><\/blockquote>\n

Definitely, “profit taking” is my favourite rationale for market movement!<\/p>\n

PerpetualDiscounts now yield 6.72%, equivalent to 8.74% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> yielded 4.72% on 2023-12-15 and since then the closing price has changed from 15.88 to 15.33, a decline of 346bp in price, with a Duration (BMO doesn’t specify Modified or Macaulay – I will assume the former) of 12.60 implying an increase of 27bp in yield to 4.99%, so the pre-tax interest-equivalent spread (in this context, the \u201cSeniority Spread\u201d) has narrowed sharply to 374bp from the 430bp reported December 27<\/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>\n0.4989 %<\/td>\n2,141.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4989 %<\/td>\n4,106.9<\/td>\n<\/tr>\n
Floater<\/td>\n11.37 %<\/td>\n11.51 %<\/td>\n53,146<\/td>\n8.49<\/td>\n2<\/td>\n0.4989 %<\/td>\n2,366.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1153 %<\/td>\n3,377.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.98 %<\/td>\n7.80 %<\/td>\n51,172<\/td>\n2.01<\/td>\n7<\/td>\n-0.1153 %<\/td>\n4,034.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1153 %<\/td>\n3,147.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.8972 %<\/td>\n2,609.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.58 %<\/td>\n6.72 %<\/td>\n57,673<\/td>\n12.90<\/td>\n34<\/td>\n0.8972 %<\/td>\n2,845.3<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.82 %<\/td>\n7.73 %<\/td>\n115,882<\/td>\n12.00<\/td>\n59<\/td>\n0.3818 %<\/td>\n2,255.4<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.46 %<\/td>\n6.63 %<\/td>\n76,163<\/td>\n13.05<\/td>\n20<\/td>\n0.6630 %<\/td>\n2,802.8<\/td>\n<\/tr>\n
FloatingReset<\/td>\n10.65 %<\/td>\n10.87 %<\/td>\n37,177<\/td>\n8.92<\/td>\n5<\/td>\n0.3299 %<\/td>\n2,522.4<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.90 %<\/td>\n6.72 %<\/td>\n158,677<\/td>\n12.55<\/td>\n2<\/td>\n-0.6711 %<\/td>\n2,525.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3818 %<\/td>\n2,305.5<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.63 %<\/td>\n7.17 %<\/td>\n80,448<\/td>\n12.54<\/td>\n14<\/td>\n0.5612 %<\/td>\n2,525.3<\/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\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
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.09
\nEvaluated at bid price : 18.09
\nBid-YTW : 7.82 %<\/td>\n<\/tr>\n
IFC.PR.I<\/td>\nInsurance Straight<\/td>\n-2.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 20.25
\nEvaluated at bid price : 20.25
\nBid-YTW : 6.73 %<\/td>\n<\/tr>\n
PVS.PR.J<\/td>\nSplitShare<\/td>\n-1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.15
\nBid-YTW : 7.80 %<\/td>\n<\/tr>\n
BN.PF.G<\/td>\nFixedReset Disc<\/td>\n-1.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 16.37
\nEvaluated at bid price : 16.37
\nBid-YTW : 8.96 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nPerpetual-Discount<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.40
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
BN.PF.B<\/td>\nFixedReset Disc<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.33
\nEvaluated at bid price : 17.33
\nBid-YTW : 8.62 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.44
\nEvaluated at bid price : 17.44
\nBid-YTW : 7.75 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Prem<\/td>\n-1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 23.40
\nEvaluated at bid price : 25.41
\nBid-YTW : 6.72 %<\/td>\n<\/tr>\n
BN.PR.Z<\/td>\nFixedReset Disc<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.28
\nEvaluated at bid price : 18.28
\nBid-YTW : 8.57 %<\/td>\n<\/tr>\n
BN.PR.B<\/td>\nFloater<\/td>\n1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 11.11
\nEvaluated at bid price : 11.11
\nBid-YTW : 11.51 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.07
\nEvaluated at bid price : 17.07
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.54
\nEvaluated at bid price : 18.54
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.46
\nEvaluated at bid price : 18.46
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
FFH.PR.M<\/td>\nFixedReset Disc<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 21.56
\nEvaluated at bid price : 21.93
\nBid-YTW : 8.13 %<\/td>\n<\/tr>\n
BN.PR.R<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 14.20
\nEvaluated at bid price : 14.20
\nBid-YTW : 9.13 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 20.82
\nEvaluated at bid price : 20.82
\nBid-YTW : 6.76 %<\/td>\n<\/tr>\n
FFH.PR.G<\/td>\nFixedReset Disc<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 15.77
\nEvaluated at bid price : 15.77
\nBid-YTW : 8.76 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.20
\nEvaluated at bid price : 18.20
\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n
FFH.PR.F<\/td>\nFloatingReset<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 16.90
\nEvaluated at bid price : 16.90
\nBid-YTW : 10.91 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.57
\nEvaluated at bid price : 18.57
\nBid-YTW : 7.46 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 20.70
\nEvaluated at bid price : 20.70
\nBid-YTW : 6.79 %<\/td>\n<\/tr>\n
GWO.PR.L<\/td>\nInsurance Straight<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 20.90
\nEvaluated at bid price : 20.90
\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n
FTS.PR.I<\/td>\nFloatingReset<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 15.00
\nEvaluated at bid price : 15.00
\nBid-YTW : 11.19 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.08
\nEvaluated at bid price : 18.08
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.01
\nBid-YTW : 7.28 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.77
\nEvaluated at bid price : 18.77
\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 19.81
\nEvaluated at bid price : 19.81
\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.79
\nEvaluated at bid price : 18.79
\nBid-YTW : 7.28 %<\/td>\n<\/tr>\n
BN.PR.X<\/td>\nFixedReset Disc<\/td>\n1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 14.70
\nEvaluated at bid price : 14.70
\nBid-YTW : 8.53 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 19.30
\nEvaluated at bid price : 19.30
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
BN.PF.F<\/td>\nFixedReset Disc<\/td>\n1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 8.69 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.20
\nEvaluated at bid price : 17.20
\nBid-YTW : 6.68 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.30
\nEvaluated at bid price : 17.30
\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetual-Discount<\/td>\n1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 22.33
\nEvaluated at bid price : 22.60
\nBid-YTW : 6.44 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n1.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 19.85
\nEvaluated at bid price : 19.85
\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n
BN.PF.D<\/td>\nPerpetual-Discount<\/td>\n1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 7.11 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 14.26
\nEvaluated at bid price : 14.26
\nBid-YTW : 7.61 %<\/td>\n<\/tr>\n
FFH.PR.K<\/td>\nFixedReset Disc<\/td>\n2.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 19.09
\nEvaluated at bid price : 19.09
\nBid-YTW : 8.44 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Disc<\/td>\n2.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 21.47
\nEvaluated at bid price : 21.47
\nBid-YTW : 7.85 %<\/td>\n<\/tr>\n
BN.PR.M<\/td>\nPerpetual-Discount<\/td>\n2.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 6.95 %<\/td>\n<\/tr>\n
PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\n2.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 6.73 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n2.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 13.39
\nEvaluated at bid price : 13.39
\nBid-YTW : 8.43 %<\/td>\n<\/tr>\n
BN.PF.I<\/td>\nFixedReset Disc<\/td>\n2.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 8.69 %<\/td>\n<\/tr>\n
CU.PR.H<\/td>\nPerpetual-Discount<\/td>\n2.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 20.20
\nEvaluated at bid price : 20.20
\nBid-YTW : 6.60 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nInsurance Straight<\/td>\n3.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 22.17
\nEvaluated at bid price : 22.45
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n3.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.53
\nEvaluated at bid price : 18.53
\nBid-YTW : 6.81 %<\/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
BNS.PR.I<\/td>\nFixedReset Prem<\/td>\n56,809<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-02-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.91
\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n41,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 19.25
\nEvaluated at bid price : 19.25
\nBid-YTW : 7.21 %<\/td>\n<\/tr>\n
BN.PF.G<\/td>\nFixedReset Disc<\/td>\n34,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 16.37
\nEvaluated at bid price : 16.37
\nBid-YTW : 8.96 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\n25,635<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 21.92
\nEvaluated at bid price : 22.40
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n21,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 13.21
\nEvaluated at bid price : 13.21
\nBid-YTW : 7.99 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n20,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.08
\nEvaluated at bid price : 18.08
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
There were 9 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
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 17.27 – 20.00
\nSpot Rate : 2.7300
\nAverage : 1.7201<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.27
\nEvaluated at bid price : 17.27
\nBid-YTW : 6.61 %<\/td>\n<\/tr>\n

BN.PR.Z<\/td>\nFixedReset Disc<\/td>\nQuote: 18.28 – 19.55
\nSpot Rate : 1.2700
\nAverage : 0.7859<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 18.28
\nEvaluated at bid price : 18.28
\nBid-YTW : 8.57 %<\/td>\n<\/tr>\n

POW.PR.B<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.02 – 21.02
\nSpot Rate : 1.0000
\nAverage : 0.5841<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 20.02
\nEvaluated at bid price : 20.02
\nBid-YTW : 6.72 %<\/td>\n<\/tr>\n

BIK.PR.A<\/td>\nFixedReset Disc<\/td>\nQuote: 21.62 – 22.50
\nSpot Rate : 0.8800
\nAverage : 0.5334<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 21.35
\nEvaluated at bid price : 21.62
\nBid-YTW : 8.46 %<\/td>\n<\/tr>\n

GWO.PR.I<\/td>\nInsurance Straight<\/td>\nQuote: 17.45 – 18.25
\nSpot Rate : 0.8000
\nAverage : 0.4810<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.45
\nEvaluated at bid price : 17.45
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n

BN.PF.F<\/td>\nFixedReset Disc<\/td>\nQuote: 17.60 – 19.00
\nSpot Rate : 1.4000
\nAverage : 1.1232<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-03
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 8.69 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TXPR closed at 544.96, up 0.64% on the day. Volume today was 1.26-million, third-lowest of the past 21 trading days. CPD closed at 10.84, up 0.84% on the day. Volume was 119,330, slightly below the …<\/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-46233","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46233","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=46233"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46233\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}