{"id":46401,"date":"2024-02-13T20:42:44","date_gmt":"2024-02-14T01:42:44","guid":{"rendered":"https:\/\/prefblog.com\/?p=46401"},"modified":"2024-02-13T20:42:44","modified_gmt":"2024-02-14T01:42:44","slug":"february-13-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=46401","title":{"rendered":"February 13, 2024"},"content":{"rendered":"

There are no magic wands in this world<\/a>:<\/p>\n

U.S. stock index futures extended losses sharply on Tuesday, as hotter-than-expected consumer inflation readings smashed market speculations of an early start to interest rate cuts this year.<\/p>\n

A Labor Department report showed the Consumer Price Index (CPI) rose 0.3% on a monthly basis in January, above the 0.2% increase expected by economists polled by Reuters. Annually, it increased 3.1% versus the 2.9% estimated growth.<\/p>\n

Excluding volatile food and energy components, the core figure rose 0.4% month-on-month in January, compared with the estimated 0.3% rise. Annually, it gained 3.9% versus the estimated 3.7% increase.<\/p><\/blockquote>\n

… and<\/a> …<\/p>\n

Interest rate swap markets, which capture traders\u2019 views on future monetary policy, now suggest only 40 per cent odds that the bank will cut rates in June, according to Refinitiv Eikon data. That\u2019s down from approximately 50-50 odds last Friday as Statistics Canada released a surprisingly strong jobs report, and 82 per cent odds just prior to a blowout jobs report in the U.S. on Feb. 2. The market is now pricing in only about half a percentage point decrease in the Bank of Canada key lending rate over the course of this year.<\/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>\n0.0424 %<\/td>\n2,281.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0424 %<\/td>\n4,375.6<\/td>\n<\/tr>\n
Floater<\/td>\n10.67 %<\/td>\n10.92 %<\/td>\n49,880<\/td>\n8.79<\/td>\n2<\/td>\n0.0424 %<\/td>\n2,521.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3354 %<\/td>\n3,439.1<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.89 %<\/td>\n7.12 %<\/td>\n49,633<\/td>\n1.90<\/td>\n7<\/td>\n0.3354 %<\/td>\n4,107.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3354 %<\/td>\n3,204.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1976 %<\/td>\n2,635.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.52 %<\/td>\n6.70 %<\/td>\n48,230<\/td>\n12.93<\/td>\n33<\/td>\n-0.1976 %<\/td>\n2,874.2<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.60 %<\/td>\n7.74 %<\/td>\n118,989<\/td>\n12.03<\/td>\n59<\/td>\n0.2509 %<\/td>\n2,355.8<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.33 %<\/td>\n6.51 %<\/td>\n68,095<\/td>\n13.13<\/td>\n21<\/td>\n-0.1927 %<\/td>\n2,863.7<\/td>\n<\/tr>\n
FloatingReset<\/td>\n10.01 %<\/td>\n10.30 %<\/td>\n35,289<\/td>\n9.20<\/td>\n3<\/td>\n0.1696 %<\/td>\n2,603.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.93 %<\/td>\n6.65 %<\/td>\n167,137<\/td>\n3.28<\/td>\n1<\/td>\n0.1580 %<\/td>\n2,519.3<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2509 %<\/td>\n2,408.1<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.44 %<\/td>\n7.19 %<\/td>\n94,540<\/td>\n12.37<\/td>\n14<\/td>\n-0.3058 %<\/td>\n2,612.0<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n-5.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 16.96
\nEvaluated at bid price : 16.96
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n-4.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 18.90
\nEvaluated at bid price : 18.90
\nBid-YTW : 8.06 %<\/td>\n<\/tr>\n
CU.PR.H<\/td>\nPerpetual-Discount<\/td>\n-2.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
BIP.PR.B<\/td>\nFixedReset Disc<\/td>\n-1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 21.67
\nEvaluated at bid price : 22.11
\nBid-YTW : 9.01 %<\/td>\n<\/tr>\n
MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 18.51
\nEvaluated at bid price : 18.51
\nBid-YTW : 7.43 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.26
\nEvaluated at bid price : 20.26
\nBid-YTW : 7.39 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Disc<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 23.10
\nEvaluated at bid price : 24.52
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 18.65
\nEvaluated at bid price : 18.65
\nBid-YTW : 7.93 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 14.84
\nEvaluated at bid price : 14.84
\nBid-YTW : 7.94 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 15.00
\nEvaluated at bid price : 15.00
\nBid-YTW : 8.09 %<\/td>\n<\/tr>\n
GWO.PR.S<\/td>\nInsurance Straight<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.12
\nEvaluated at bid price : 20.12
\nBid-YTW : 6.64 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 22.03
\nEvaluated at bid price : 22.51
\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.58
\nEvaluated at bid price : 20.58
\nBid-YTW : 6.68 %<\/td>\n<\/tr>\n
BN.PR.Z<\/td>\nFixedReset Disc<\/td>\n1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 19.71
\nEvaluated at bid price : 19.71
\nBid-YTW : 8.40 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 21.91
\nEvaluated at bid price : 21.91
\nBid-YTW : 7.01 %<\/td>\n<\/tr>\n
FFH.PR.D<\/td>\nFloatingReset<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 10.22 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.05
\nEvaluated at bid price : 20.05
\nBid-YTW : 7.74 %<\/td>\n<\/tr>\n
IFC.PR.I<\/td>\nInsurance Straight<\/td>\n1.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 21.35
\nEvaluated at bid price : 21.35
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
PVS.PR.J<\/td>\nSplitShare<\/td>\n1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.00
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n3.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n7.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.33
\nEvaluated at bid price : 20.33
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n18.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 18.25
\nEvaluated at bid price : 18.25
\nBid-YTW : 9.63 %<\/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
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n158,800<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 7.21 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n92,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 18.97
\nEvaluated at bid price : 18.97
\nBid-YTW : 7.84 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n82,367<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 19.50
\nEvaluated at bid price : 19.50
\nBid-YTW : 7.89 %<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetual-Discount<\/td>\n41,366<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 22.24
\nEvaluated at bid price : 22.51
\nBid-YTW : 6.52 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n35,327<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 19.81
\nEvaluated at bid price : 19.81
\nBid-YTW : 7.50 %<\/td>\n<\/tr>\n
BN.PF.B<\/td>\nFixedReset Disc<\/td>\n34,945<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 19.40
\nEvaluated at bid price : 19.40
\nBid-YTW : 8.32 %<\/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
EIT.PR.A<\/td>\nSplitShare<\/td>\nQuote: 25.11 – 26.11
\nSpot Rate : 1.0000
\nAverage : 0.5374<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2024-03-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.11
\nBid-YTW : 9.17 %<\/td>\n<\/tr>\n

BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\nQuote: 18.90 – 19.90
\nSpot Rate : 1.0000
\nAverage : 0.6827<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 18.90
\nEvaluated at bid price : 18.90
\nBid-YTW : 8.06 %<\/td>\n<\/tr>\n

GWO.PR.Y<\/td>\nInsurance Straight<\/td>\nQuote: 16.96 – 17.96
\nSpot Rate : 1.0000
\nAverage : 0.7310<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 16.96
\nEvaluated at bid price : 16.96
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n

BIP.PR.B<\/td>\nFixedReset Disc<\/td>\nQuote: 22.11 – 23.00
\nSpot Rate : 0.8900
\nAverage : 0.6583<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 21.67
\nEvaluated at bid price : 22.11
\nBid-YTW : 9.01 %<\/td>\n<\/tr>\n

FFH.PR.I<\/td>\nFixedReset Disc<\/td>\nQuote: 17.18 – 17.89
\nSpot Rate : 0.7100
\nAverage : 0.4873<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 17.18
\nEvaluated at bid price : 17.18
\nBid-YTW : 9.00 %<\/td>\n<\/tr>\n

MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\nQuote: 19.46 – 24.06
\nSpot Rate : 4.6000
\nAverage : 4.3992<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-02-13
\nMaturity Price : 19.46
\nEvaluated at bid price : 19.46
\nBid-YTW : 7.62 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

There are no magic wands in this world: U.S. stock index futures extended losses sharply on Tuesday, as hotter-than-expected consumer inflation readings smashed market speculations of an early start to interest rate cuts this year. …<\/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-46401","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46401","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=46401"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/46401\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}