{"id":47069,"date":"2024-07-11T21:07:40","date_gmt":"2024-07-12T02:07:40","guid":{"rendered":"https:\/\/prefblog.com\/?p=47069"},"modified":"2024-07-11T21:07:40","modified_gmt":"2024-07-12T02:07:40","slug":"july-11-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47069","title":{"rendered":"July 11, 2024"},"content":{"rendered":"

So, there was good inflation news from the US<\/a>:<\/p>\n

Inflation in the United States cooled in June for a third straight month, a sign the worst price spike in four decades is steadily fading and may soon usher in interest-rate cuts by the Federal Reserve.<\/p>\n

In a better-than-expected report, consumer prices declined 0.1 per cent from May to June after having remained flat the previous month, the Labour Department said Thursday. It was the first monthly decline in overall inflation since May, 2020, when the economy was paralyzed by the pandemic.<\/p>\n

And measured from one year earlier, prices were up 3 per cent in June, cooler than the 3.3-per-cent annual rate in May.
…<\/b>
Also on Thursday, Mary Daly, a key Fed official, suggested the central bank should cut rates soon. Ms. Daly, president of the Fed\u2019s San Francisco branch, said she believed slowing inflation and a cooling job market justify a reduction in interest rates. She did not address the specific timing of any rate cut.<\/p>\n

\u201cI see it as likely that some policy adjustments will be warranted,\u201d Ms. Daly said on a conference call with reporters.<\/p><\/blockquote>\n

Five-year Canadas are now at 3.44%<\/a>.<\/p>\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>\n1.2821 %<\/td>\n2,184.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n1.2821 %<\/td>\n4,190.2<\/td>\n<\/tr>\n
Floater<\/td>\n10.62 %<\/td>\n10.77 %<\/td>\n88,548<\/td>\n8.98<\/td>\n2<\/td>\n1.2821 %<\/td>\n2,414.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1372 %<\/td>\n3,490.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.79 %<\/td>\n6.67 %<\/td>\n27,532<\/td>\n1.25<\/td>\n6<\/td>\n-0.1372 %<\/td>\n4,168.4<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1372 %<\/td>\n3,252.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3534 %<\/td>\n2,705.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.36 %<\/td>\n6.50 %<\/td>\n51,784<\/td>\n13.21<\/td>\n28<\/td>\n0.3534 %<\/td>\n2,950.0<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.15 %<\/td>\n7.14 %<\/td>\n111,942<\/td>\n12.36<\/td>\n49<\/td>\n0.5244 %<\/td>\n2,625.7<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.14 %<\/td>\n6.38 %<\/td>\n61,478<\/td>\n13.38<\/td>\n21<\/td>\n0.3141 %<\/td>\n2,908.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n9.25 %<\/td>\n8.95 %<\/td>\n32,569<\/td>\n10.45<\/td>\n4<\/td>\n-0.5500 %<\/td>\n2,780.3<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.83 %<\/td>\n6.22 %<\/td>\n264,879<\/td>\n3.95<\/td>\n8<\/td>\n-0.0593 %<\/td>\n2,533.7<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.5244 %<\/td>\n2,683.9<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.10 %<\/td>\n6.75 %<\/td>\n100,887<\/td>\n13.15<\/td>\n14<\/td>\n-0.1867 %<\/td>\n2,786.8<\/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\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-8.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 7.39 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset Disc<\/td>\n-4.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n
BN.PR.X<\/td>\nFixedReset Disc<\/td>\n-3.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 16.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 8.12 %<\/td>\n<\/tr>\n
PWF.PR.G<\/td>\nPerpetual-Discount<\/td>\n-2.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 22.28
\nEvaluated at bid price : 22.55
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n-2.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 17.30
\nEvaluated at bid price : 17.30
\nBid-YTW : 8.95 %<\/td>\n<\/tr>\n
MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 19.31
\nEvaluated at bid price : 19.31
\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n
BN.PF.H<\/td>\nFixedReset Disc<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.20
\nBid-YTW : 7.48 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 14.60
\nEvaluated at bid price : 14.60
\nBid-YTW : 7.67 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n
FFH.PR.G<\/td>\nFixedReset Disc<\/td>\n-1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 17.71
\nEvaluated at bid price : 17.71
\nBid-YTW : 8.19 %<\/td>\n<\/tr>\n
TD.PF.E<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.08
\nEvaluated at bid price : 23.55
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
FFH.PR.C<\/td>\nFixedReset Disc<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 21.76
\nEvaluated at bid price : 22.20
\nBid-YTW : 7.46 %<\/td>\n<\/tr>\n
FFH.PR.K<\/td>\nFixedReset Disc<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 21.34
\nEvaluated at bid price : 21.65
\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n
BN.PR.K<\/td>\nFloater<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 11.43
\nEvaluated at bid price : 11.43
\nBid-YTW : 10.82 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 22.22
\nEvaluated at bid price : 22.80
\nBid-YTW : 6.66 %<\/td>\n<\/tr>\n
BN.PR.B<\/td>\nFloater<\/td>\n1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 11.48
\nEvaluated at bid price : 11.48
\nBid-YTW : 10.77 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 22.62
\nEvaluated at bid price : 23.64
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n
PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\n1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 21.41
\nEvaluated at bid price : 21.41
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 20.35
\nEvaluated at bid price : 20.35
\nBid-YTW : 6.47 %<\/td>\n<\/tr>\n
BN.PR.Z<\/td>\nFixedReset Disc<\/td>\n3.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 20.91
\nEvaluated at bid price : 20.91
\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n3.94 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.06
\nEvaluated at bid price : 24.25
\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n4.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 19.58
\nEvaluated at bid price : 19.58
\nBid-YTW : 6.54 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n6.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.26
\nEvaluated at bid price : 23.80
\nBid-YTW : 6.36 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n7.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 15.17
\nEvaluated at bid price : 15.17
\nBid-YTW : 7.81 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n23.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 22.66
\nEvaluated at bid price : 23.56
\nBid-YTW : 6.34 %<\/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
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n252,167<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.96
\nEvaluated at bid price : 24.92
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n204,732<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.27
\nEvaluated at bid price : 24.00
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n101,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 21.33
\nEvaluated at bid price : 21.60
\nBid-YTW : 6.75 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n97,800<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.17
\nEvaluated at bid price : 23.91
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Prem<\/td>\n85,119<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.96
\nEvaluated at bid price : 24.92
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n68,718<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 23.39
\nEvaluated at bid price : 23.98
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
There were 16 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
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\nQuote: 17.50 – 19.06
\nSpot Rate : 1.5600
\nAverage : 1.0358<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 17.50
\nEvaluated at bid price : 17.50
\nBid-YTW : 7.39 %<\/td>\n<\/tr>\n

PWF.PR.T<\/td>\nFixedReset Disc<\/td>\nQuote: 20.60 – 22.00
\nSpot Rate : 1.4000
\nAverage : 0.9122<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n

MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 19.31 – 19.90
\nSpot Rate : 0.5900
\nAverage : 0.3829<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 19.31
\nEvaluated at bid price : 19.31
\nBid-YTW : 7.07 %<\/td>\n<\/tr>\n

POW.PR.G<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.60 – 22.05
\nSpot Rate : 0.4500
\nAverage : 0.2912<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 21.33
\nEvaluated at bid price : 21.60
\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n

FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 19.31 – 19.75
\nSpot Rate : 0.4400
\nAverage : 0.2845<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 19.31
\nEvaluated at bid price : 19.31
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n

PWF.PR.G<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.55 – 23.05
\nSpot Rate : 0.5000
\nAverage : 0.3493<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-11
\nMaturity Price : 22.28
\nEvaluated at bid price : 22.55
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

So, there was good inflation news from the US: Inflation in the United States cooled in June for a third straight month, a sign the worst price spike in four decades is steadily fading and …<\/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-47069","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47069","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=47069"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47069\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}