{"id":46377,"date":"2024-02-05T21:54:59","date_gmt":"2024-02-06T02:54:59","guid":{"rendered":"https:\/\/prefblog.com\/?p=46377"},"modified":"2024-02-05T21:54:59","modified_gmt":"2024-02-06T02:54:59","slug":"february-5-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=46377","title":{"rendered":"February 5, 2024"},"content":{"rendered":"

Bonds got hammered again<\/a>:<\/p>\n

In an interview aired on Sunday, Powell said more evidence on a sustainable downtrend in inflation was needed to warrant lower rates, while Minneapolis Fed President Neel Kashkari wrote in an essay published on Monday that a resilient economy could defer rate cuts for some time.<\/p>\n

Fresh data from the Institute for Supply Management showed the U.S. services sector\u2019s growth picked up in January, with a measure of input prices rising to an 11-month high.<\/p>\n

This added to doubts about rate cuts, already kindled by Friday\u2019s data, which signaled the labour market\u2019s resilience in the face of tight credit conditions.<\/p>\n

Adding pressure was the Treasury market, with both U.S. and Canadian 10-year yields up sharply for a second straight trading day and hitting their highest level since late January.<\/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>\n0.0000 %<\/td>\n2,275.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0000 %<\/td>\n4,364.5<\/td>\n<\/tr>\n
Floater<\/td>\n10.70 %<\/td>\n10.94 %<\/td>\n34,239<\/td>\n8.79<\/td>\n2<\/td>\n0.0000 %<\/td>\n2,515.3<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2343 %<\/td>\n3,409.1<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.94 %<\/td>\n7.32 %<\/td>\n50,343<\/td>\n1.92<\/td>\n7<\/td>\n-0.2343 %<\/td>\n4,071.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2343 %<\/td>\n3,176.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0367 %<\/td>\n2,691.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.38 %<\/td>\n6.54 %<\/td>\n51,424<\/td>\n13.14<\/td>\n34<\/td>\n-0.0367 %<\/td>\n2,934.9<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.56 %<\/td>\n7.57 %<\/td>\n119,372<\/td>\n12.19<\/td>\n59<\/td>\n0.1751 %<\/td>\n2,374.7<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.25 %<\/td>\n6.46 %<\/td>\n69,760<\/td>\n13.23<\/td>\n20<\/td>\n0.0226 %<\/td>\n2,896.5<\/td>\n<\/tr>\n
FloatingReset<\/td>\n9.84 %<\/td>\n10.21 %<\/td>\n36,573<\/td>\n9.32<\/td>\n3<\/td>\n-0.6604 %<\/td>\n2,652.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.91 %<\/td>\n6.51 %<\/td>\n175,660<\/td>\n3.31<\/td>\n1<\/td>\n-0.2745 %<\/td>\n2,527.3<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1751 %<\/td>\n2,427.4<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.36 %<\/td>\n7.05 %<\/td>\n102,551<\/td>\n12.57<\/td>\n14<\/td>\n0.0401 %<\/td>\n2,649.0<\/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\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.H<\/td>\nPerpetual-Discount<\/td>\n-4.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
IFC.PR.I<\/td>\nInsurance Straight<\/td>\n-3.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n
BN.PF.I<\/td>\nFixedReset Disc<\/td>\n-2.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.71
\nEvaluated at bid price : 20.71
\nBid-YTW : 8.56 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nInsurance Straight<\/td>\n-2.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.20
\nEvaluated at bid price : 20.20
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n-2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 7.75 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.28
\nEvaluated at bid price : 20.28
\nBid-YTW : 7.46 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n-1.84 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.91
\nBid-YTW : 7.53 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n-1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.11
\nEvaluated at bid price : 20.11
\nBid-YTW : 7.64 %<\/td>\n<\/tr>\n
FTS.PR.I<\/td>\nFloatingReset<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 16.25
\nEvaluated at bid price : 16.25
\nBid-YTW : 10.40 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-1.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 18.96
\nEvaluated at bid price : 18.96
\nBid-YTW : 6.97 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n-1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 18.26
\nEvaluated at bid price : 18.26
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 7.72 %<\/td>\n<\/tr>\n
FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 6.05 %<\/td>\n<\/tr>\n
FFH.PR.K<\/td>\nFixedReset Disc<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.25
\nEvaluated at bid price : 20.25
\nBid-YTW : 8.34 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 15.14
\nEvaluated at bid price : 15.14
\nBid-YTW : 7.89 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 19.20
\nEvaluated at bid price : 19.20
\nBid-YTW : 7.61 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 19.52
\nEvaluated at bid price : 19.52
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n
RY.PR.N<\/td>\nPerpetual-Discount<\/td>\n2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 21.71
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
BN.PR.R<\/td>\nFixedReset Disc<\/td>\n2.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 15.60
\nEvaluated at bid price : 15.60
\nBid-YTW : 8.83 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n3.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 9.64 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n5.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 18.10
\nEvaluated at bid price : 18.10
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
BN.PF.H<\/td>\nFixedReset Disc<\/td>\n6.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 22.24
\nEvaluated at bid price : 22.55
\nBid-YTW : 8.32 %<\/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
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n145,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 21.17
\nEvaluated at bid price : 21.17
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n
FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\n97,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 19.95
\nEvaluated at bid price : 19.95
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n95,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 19.25
\nEvaluated at bid price : 19.25
\nBid-YTW : 7.50 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n78,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n76,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 18.95
\nEvaluated at bid price : 18.95
\nBid-YTW : 7.62 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n70,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 7.11 %<\/td>\n<\/tr>\n
There were 23 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
CM.PR.O<\/td>\nFixedReset Disc<\/td>\nQuote: 20.35 – 22.15
\nSpot Rate : 1.8000
\nAverage : 1.0031<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.35
\nEvaluated at bid price : 20.35
\nBid-YTW : 7.25 %<\/td>\n<\/tr>\n

BN.PR.R<\/td>\nFixedReset Disc<\/td>\nQuote: 15.60 – 17.50
\nSpot Rate : 1.9000
\nAverage : 1.2476<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 15.60
\nEvaluated at bid price : 15.60
\nBid-YTW : 8.83 %<\/td>\n<\/tr>\n

PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\nQuote: 19.61 – 20.70
\nSpot Rate : 1.0900
\nAverage : 0.6583<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 19.61
\nEvaluated at bid price : 19.61
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n

IFC.PR.I<\/td>\nInsurance Straight<\/td>\nQuote: 21.00 – 21.95
\nSpot Rate : 0.9500
\nAverage : 0.6786<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n

CU.PR.H<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.40 – 21.66
\nSpot Rate : 1.2600
\nAverage : 0.9970<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n

NA.PR.S<\/td>\nFixedReset Disc<\/td>\nQuote: 20.28 – 20.90
\nSpot Rate : 0.6200
\nAverage : 0.3732<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-05
\nMaturity Price : 20.28
\nEvaluated at bid price : 20.28
\nBid-YTW : 7.46 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Bonds got hammered again: In an interview aired on Sunday, Powell said more evidence on a sustainable downtrend in inflation was needed to warrant lower rates, while Minneapolis Fed President Neel Kashkari wrote in an …<\/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-46377","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46377","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=46377"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46377\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}