{"id":47080,"date":"2024-07-16T19:38:53","date_gmt":"2024-07-17T00:38:53","guid":{"rendered":"https:\/\/prefblog.com\/?p=47080"},"modified":"2024-07-16T19:38:53","modified_gmt":"2024-07-17T00:38:53","slug":"july-16-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47080","title":{"rendered":"July 16, 2024"},"content":{"rendered":"

Canadian inflation came in low<\/a>:<\/p>\n

The Consumer Price Index rose 2.7 per cent in June on an annual basis, down from 2.9 per cent in May, Statistics Canada said Tuesday in a report. Financial analysts were expecting the inflation rate to ease to 2.8 per cent.<\/p>\n

This is the sixth consecutive month that inflation has fallen within the Bank of Canada\u2019s target range of 1 per cent to 3 per cent. Moreover, it\u2019s the fifth out of six months this year that headline inflation has proven soft, relative to expectations on Bay Street.<\/p>\n

On a month-to-month basis, consumer prices fell 0.1 per cent in June, without adjustments for seasonality.<\/p>\n

There were several contributors to the weaker reading. For example, gasoline prices fell 3.1 per cent in June from May, while prices for travel tours tumbled by 11.1 per cent.<\/p><\/blockquote>\n

… this had an immediate effect on the money market<\/a>:<\/p>\n

<\/a>
Pre-announcement<\/div>\n
<\/a>
Post-announcement<\/div>\n

But the IMF warns us not to expect too much<\/a>:<\/p>\n

The International Monetary Fund has warned that stubborn inflation could keep interest rates higher for longer than expected, increasing fiscal and financial risks around the world.<\/p>\n

Persistently high prices for services \u2014 which include haircuts, hotels and restaurants \u2014 as well as escalating trade tensions are propping up inflation and raising the prospect that interest rates will stay high for a while yet, the IMF cautioned Tuesday in its latest World Economic Outlook.<\/p>\n

The warning highlights that the global economy is not yet in the clear when it comes to inflation, which explains the caution on the part of central banks in cutting interest rates. High borrowing costs, in turn, are prolonging the squeeze on household and business finances.
…<\/b>
The agency blamed sticky services price inflation for \u201cholding up progress\u201d on reducing overall inflation. \u201cRisks of persistent inflation in the services sector are tied to both wage- and price-setting, given that labor accounts for a high share of the costs in that sector,\u201d it noted.<\/p>\n

\u201cThe escalation of trade tensions could further raise near-term risks to inflation by increasing the cost of imported goods.\u201d<\/p><\/blockquote>\n

So: when in doubt – shop<\/a>!<\/p>\n

Wall Street is cheering after fresh data showed American consumers aren\u2019t tapping out quite yet, despite a disappointing few months for retailers.<\/p>\n

US retail spending has been mostly flat since the beginning of the year, holding steady in June, the Commerce Department reported Tuesday. Consumer spending is American\u2019s main economic engine, powering two-thirds of the US economy. Retail sales, which capture spending on goods and food services, make up a big chunk of overall spending.<\/p>\n

June\u2019s reading was better than the outright decline economists projected in a FactSet poll \u2014 a shift from prior months when retail sales consistently came in worse than expected. The figures are adjusted for seasonal swings but not inflation.<\/p>\n

US consumers\u2019 surprising show of resilience helped send stocks higher on Tuesday, with the Dow reaching a new record.<\/p>\n

Sales at gas stations declined the most last month, dropping 3% from May. Spending at car dealerships and on automotive parts also fell markedly in June, reflecting the cyberattack on CDK Global, a software provider for dealerships. Excluding spending at gas stations and on cars, sales were up a solid 0.8% in June.<\/p>\n

Meanwhile, online sales were up a healthy 1.9% in June. The strength from that category could persist in July due to Amazon\u2019s annual deal event known as Prime Day. Sales at home improvement stores were also robust last month, rising 1.4%<\/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>\n0.3072 %<\/td>\n2,179.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3072 %<\/td>\n4,181.0<\/td>\n<\/tr>\n
Floater<\/td>\n10.64 %<\/td>\n10.81 %<\/td>\n87,574<\/td>\n8.93<\/td>\n2<\/td>\n0.3072 %<\/td>\n2,409.6<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2818 %<\/td>\n3,497.0<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.78 %<\/td>\n6.72 %<\/td>\n28,785<\/td>\n1.23<\/td>\n6<\/td>\n0.2818 %<\/td>\n4,176.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2818 %<\/td>\n3,258.4<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0917 %<\/td>\n2,718.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.33 %<\/td>\n6.47 %<\/td>\n56,115<\/td>\n13.27<\/td>\n28<\/td>\n0.0917 %<\/td>\n2,964.7<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.14 %<\/td>\n7.06 %<\/td>\n112,654<\/td>\n12.48<\/td>\n49<\/td>\n0.0928 %<\/td>\n2,631.9<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.10 %<\/td>\n6.37 %<\/td>\n61,022<\/td>\n13.39<\/td>\n21<\/td>\n0.3216 %<\/td>\n2,926.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n9.19 %<\/td>\n8.95 %<\/td>\n30,968<\/td>\n10.43<\/td>\n4<\/td>\n-0.6122 %<\/td>\n2,786.4<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.83 %<\/td>\n6.20 %<\/td>\n258,391<\/td>\n3.94<\/td>\n8<\/td>\n0.0148 %<\/td>\n2,534.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0928 %<\/td>\n2,690.4<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.24 %<\/td>\n6.62 %<\/td>\n94,319<\/td>\n13.12<\/td>\n14<\/td>\n0.0448 %<\/td>\n2,804.9<\/td>\n<\/tr>\n<\/table>\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-6.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.44
\nEvaluated at bid price : 19.44
\nBid-YTW : 7.44 %<\/td>\n<\/tr>\n
BN.PF.F<\/td>\nFixedReset Disc<\/td>\n-3.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.70
\nEvaluated at bid price : 19.70
\nBid-YTW : 8.00 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 23.01
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n-1.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 17.78
\nEvaluated at bid price : 17.78
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n
FFH.PR.J<\/td>\nFloatingReset<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.55
\nEvaluated at bid price : 19.55
\nBid-YTW : 9.77 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 18.15
\nEvaluated at bid price : 18.15
\nBid-YTW : 6.76 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.30
\nEvaluated at bid price : 19.30
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 21.65
\nEvaluated at bid price : 21.90
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
BN.PR.X<\/td>\nFixedReset Disc<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 16.33
\nEvaluated at bid price : 16.33
\nBid-YTW : 7.87 %<\/td>\n<\/tr>\n
BN.PR.T<\/td>\nFixedReset Disc<\/td>\n1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 16.61
\nEvaluated at bid price : 16.61
\nBid-YTW : 8.11 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 21.18
\nEvaluated at bid price : 21.18
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.20
\nEvaluated at bid price : 19.20
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.16
\nEvaluated at bid price : 19.16
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n
PVS.PR.J<\/td>\nSplitShare<\/td>\n1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.75
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
BIP.PR.E<\/td>\nFixedReset Disc<\/td>\n7.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 22.11
\nEvaluated at bid price : 22.58
\nBid-YTW : 7.23 %<\/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>\n175,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 23.96
\nEvaluated at bid price : 24.94
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n106,924<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 23.31
\nEvaluated at bid price : 24.05
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
TD.PF.M<\/td>\nFixedReset Prem<\/td>\n101,200<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-08-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.94
\nBid-YTW : 6.69 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n76,260<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 21.18
\nEvaluated at bid price : 21.18
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n75,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 24.19
\nEvaluated at bid price : 24.19
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n75,014<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 17.12
\nEvaluated at bid price : 17.12
\nBid-YTW : 6.79 %<\/td>\n<\/tr>\n
There were 17 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.E<\/td>\nInsurance Straight<\/td>\nQuote: 21.35 – 23.22
\nSpot Rate : 1.8700
\nAverage : 1.1545<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 21.35
\nEvaluated at bid price : 21.35
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n

CU.PR.C<\/td>\nFixedReset Disc<\/td>\nQuote: 19.44 – 21.05
\nSpot Rate : 1.6100
\nAverage : 1.0306<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.44
\nEvaluated at bid price : 19.44
\nBid-YTW : 7.44 %<\/td>\n<\/tr>\n

GWO.PR.G<\/td>\nInsurance Straight<\/td>\nQuote: 20.46 – 21.41
\nSpot Rate : 0.9500
\nAverage : 0.5774<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 20.46
\nEvaluated at bid price : 20.46
\nBid-YTW : 6.42 %<\/td>\n<\/tr>\n

BN.PF.F<\/td>\nFixedReset Disc<\/td>\nQuote: 19.70 – 20.55
\nSpot Rate : 0.8500
\nAverage : 0.6016<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 19.70
\nEvaluated at bid price : 19.70
\nBid-YTW : 8.00 %<\/td>\n<\/tr>\n

PVS.PR.J<\/td>\nSplitShare<\/td>\nQuote: 23.75 – 24.90
\nSpot Rate : 1.1500
\nAverage : 0.9098<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.75
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n

GWO.PR.I<\/td>\nInsurance Straight<\/td>\nQuote: 17.78 – 18.50
\nSpot Rate : 0.7200
\nAverage : 0.5530<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-07-16
\nMaturity Price : 17.78
\nEvaluated at bid price : 17.78
\nBid-YTW : 6.40 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Canadian inflation came in low: The Consumer Price Index rose 2.7 per cent in June on an annual basis, down from 2.9 per cent in May, Statistics Canada said Tuesday in a report. Financial analysts …<\/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-47080","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47080","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=47080"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47080\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}