{"id":46282,"date":"2024-01-18T20:03:58","date_gmt":"2024-01-19T01:03:58","guid":{"rendered":"https:\/\/prefblog.com\/?p=46282"},"modified":"2024-01-18T20:03:58","modified_gmt":"2024-01-19T01:03:58","slug":"january-18-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=46282","title":{"rendered":"January 18, 2024"},"content":{"rendered":"
<\/a><\/div>\n

TXPR closed at 561.27<\/a>, up 0.50% on the day. Volume today was 2.87-million, highest of the past 21 trading days.<\/p>\n

CPD closed at 11.13<\/a>, up 0.27% on the day. Volume was 51,710, second-lowest of the past 21 trading days.<\/p>\n

ZPR closed at 9.44<\/a>, up 0.11% on the day. Volume was 206,980, highest of the past 21 trading days.<\/p>\n

Five-year Canada yields were up to 3.57%<\/a>.<\/p>\n

The Globe notes<\/a>:<\/p>\n

The number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly 1-1\/2 years. The data added to strong retail sales growth in December in painting an upbeat picture of the economy, and could make it difficult for the Federal Reserve to start cutting interest rates in March as financial markets anticipate. Bond yields Thursday rose modestly across the curve in both Canada and the U.S.<\/p>\n

Traders now see a 56% chance for a 25-basis-point rate cut in March at the Fed, compared with odds above 80% a month ago, according to the CME Group\u2019s FedWatch Tool.<\/p>\n

The chances of an interest rate cut by the Bank of Canada in the first half of this year have been on the decline as well, according to overnight swaps markets, which now see only about 60% odds the first cut will occur in April. Earlier this week, Canada released data showing unexpectedly stubborn core inflation.<\/p>\n

Canadian retail sales data for November, due on Friday, could offer clues on the Bank of Canada\u2019s policy outlook ahead of the central bank\u2019s policy decision next week. Economists expect sales to decline 0.1% after rising 0.6% in October.
\n
…<\/b>
Atlanta Federal Reserve President Raphael Bostic said he was open to reducing rates sooner than he had anticipated if there is \u201cconvincing\u201d evidence in coming months that inflation is falling faster than he expected. Bostic had previously said he expected it would be appropriate to cut rates in the second half of 2024.<\/p><\/blockquote>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(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>\n0.6585 %<\/td>\n2,215.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.6585 %<\/td>\n4,249.6<\/td>\n<\/tr>\n
Floater<\/td>\n10.99 %<\/td>\n11.19 %<\/td>\n40,329<\/td>\n8.67<\/td>\n2<\/td>\n0.6585 %<\/td>\n2,449.1<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2048 %<\/td>\n3,415.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.93 %<\/td>\n7.44 %<\/td>\n50,277<\/td>\n1.97<\/td>\n7<\/td>\n0.2048 %<\/td>\n4,078.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2048 %<\/td>\n3,182.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2512 %<\/td>\n2,666.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.44 %<\/td>\n6.56 %<\/td>\n51,594<\/td>\n13.13<\/td>\n34<\/td>\n0.2512 %<\/td>\n2,907.4<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.65 %<\/td>\n7.63 %<\/td>\n109,688<\/td>\n12.11<\/td>\n59<\/td>\n0.3111 %<\/td>\n2,323.6<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.27 %<\/td>\n6.45 %<\/td>\n69,813<\/td>\n13.27<\/td>\n20<\/td>\n0.3077 %<\/td>\n2,890.1<\/td>\n<\/tr>\n
FloatingReset<\/td>\n10.33 %<\/td>\n10.73 %<\/td>\n32,167<\/td>\n8.99<\/td>\n5<\/td>\n1.6363 %<\/td>\n2,594.0<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.90 %<\/td>\n6.50 %<\/td>\n146,807<\/td>\n3.35<\/td>\n2<\/td>\n0.1194 %<\/td>\n2,525.7<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3111 %<\/td>\n2,375.1<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.51 %<\/td>\n7.28 %<\/td>\n90,807<\/td>\n12.35<\/td>\n14<\/td>\n0.1350 %<\/td>\n2,578.3<\/td>\n<\/tr>\n<\/table>\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
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n-1.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 18.41
\nEvaluated at bid price : 18.41
\nBid-YTW : 7.72 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 14.15
\nEvaluated at bid price : 14.15
\nBid-YTW : 8.32 %<\/td>\n<\/tr>\n
IFC.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 20.95
\nEvaluated at bid price : 20.95
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 19.57
\nEvaluated at bid price : 19.57
\nBid-YTW : 7.66 %<\/td>\n<\/tr>\n
BN.PF.B<\/td>\nFixedReset Disc<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 18.51
\nEvaluated at bid price : 18.51
\nBid-YTW : 8.46 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 20.15
\nEvaluated at bid price : 20.15
\nBid-YTW : 8.12 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 18.74
\nEvaluated at bid price : 18.74
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n
BN.PR.K<\/td>\nFloater<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 11.48
\nEvaluated at bid price : 11.48
\nBid-YTW : 11.19 %<\/td>\n<\/tr>\n
BN.PF.G<\/td>\nFixedReset Disc<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 16.80
\nEvaluated at bid price : 16.80
\nBid-YTW : 9.11 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
FFH.PR.I<\/td>\nFixedReset Disc<\/td>\n1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 17.10
\nEvaluated at bid price : 17.10
\nBid-YTW : 8.80 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 17.92
\nEvaluated at bid price : 17.92
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n2.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 17.77
\nEvaluated at bid price : 17.77
\nBid-YTW : 9.63 %<\/td>\n<\/tr>\n
FFH.PR.C<\/td>\nFixedReset Disc<\/td>\n2.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 20.12
\nEvaluated at bid price : 20.12
\nBid-YTW : 8.27 %<\/td>\n<\/tr>\n
FFH.PR.F<\/td>\nFloatingReset<\/td>\n2.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 10.86 %<\/td>\n<\/tr>\n
IFC.PR.I<\/td>\nInsurance Straight<\/td>\n3.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 21.38
\nEvaluated at bid price : 21.65
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n
FFH.PR.D<\/td>\nFloatingReset<\/td>\n4.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 21.20
\nEvaluated at bid price : 21.20
\nBid-YTW : 9.88 %<\/td>\n<\/tr>\n
FFH.PR.G<\/td>\nFixedReset Disc<\/td>\n5.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 16.46
\nEvaluated at bid price : 16.46
\nBid-YTW : 8.77 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n308,658<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 14.15
\nEvaluated at bid price : 14.15
\nBid-YTW : 8.32 %<\/td>\n<\/tr>\n
BMO.PR.F<\/td>\nFixedReset Disc<\/td>\n259,447<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 23.90
\nEvaluated at bid price : 24.66
\nBid-YTW : 7.22 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Prem<\/td>\n171,626<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-02-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.97
\nBid-YTW : 4.90 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n107,560<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 19.03
\nEvaluated at bid price : 19.03
\nBid-YTW : 7.71 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n96,930<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 21.94
\nEvaluated at bid price : 22.40
\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n76,273<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 19.25
\nEvaluated at bid price : 19.25
\nBid-YTW : 7.41 %<\/td>\n<\/tr>\n
There were 19 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\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
BIP.PR.B<\/td>\nFixedReset Disc<\/td>\nQuote: 22.85 – 24.95
\nSpot Rate : 2.1000
\nAverage : 1.2668<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 22.52
\nEvaluated at bid price : 22.85
\nBid-YTW : 8.53 %<\/td>\n<\/tr>\n

IFC.PR.E<\/td>\nInsurance Straight<\/td>\nQuote: 21.15 – 22.50
\nSpot Rate : 1.3500
\nAverage : 0.8539<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 6.22 %<\/td>\n<\/tr>\n

SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.75 – 20.00
\nSpot Rate : 1.2500
\nAverage : 0.8020<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 18.75
\nEvaluated at bid price : 18.75
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n

BN.PF.E<\/td>\nFixedReset Disc<\/td>\nQuote: 15.83 – 17.40
\nSpot Rate : 1.5700
\nAverage : 1.1631<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 15.83
\nEvaluated at bid price : 15.83
\nBid-YTW : 9.40 %<\/td>\n<\/tr>\n

PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\nQuote: 18.30 – 18.91
\nSpot Rate : 0.6100
\nAverage : 0.4259<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 18.30
\nEvaluated at bid price : 18.30
\nBid-YTW : 6.59 %<\/td>\n<\/tr>\n

CU.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 17.76 – 18.64
\nSpot Rate : 0.8800
\nAverage : 0.7116<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-01-18
\nMaturity Price : 17.76
\nEvaluated at bid price : 17.76
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TXPR closed at 561.27, up 0.50% on the day. Volume today was 2.87-million, highest of the past 21 trading days. CPD closed at 11.13, up 0.27% on the day. Volume was 51,710, second-lowest of 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-46282","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46282","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=46282"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46282\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}