{"id":47567,"date":"2024-11-06T20:51:26","date_gmt":"2024-11-07T01:51:26","guid":{"rendered":"https:\/\/prefblog.com\/?p=47567"},"modified":"2024-11-06T20:51:26","modified_gmt":"2024-11-07T01:51:26","slug":"november-6-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47567","title":{"rendered":"November 6, 2024"},"content":{"rendered":"

PerpetualDiscounts now yield 6.28%, equivalent to 8.16% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> yielded 4.85% on 2024-11-5 and since then the closing price of ZLC has changed from 15.40 to 15.34, a total return of -0.39%, implying an increase of yields of 3bp (BMO reports a duration of 12.44, but don\u2019t disclose whether this is Macaulay or Modified; I will assume Modified) to 4.88%. Therefore, the pre-tax interest-equivalent spread (in this context, the \u201cSeniority Spread\u201d) has widened dramatically to 340bp from the 305bp reported October 30<\/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>\n0.1493 %<\/td>\n2,145.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1493 %<\/td>\n4,115.3<\/td>\n<\/tr>\n
Floater<\/td>\n8.87 %<\/td>\n9.37 %<\/td>\n33,930<\/td>\n10.02<\/td>\n4<\/td>\n0.1493 %<\/td>\n2,371.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.3744 %<\/td>\n3,587.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.82 %<\/td>\n5.37 %<\/td>\n67,160<\/td>\n2.16<\/td>\n6<\/td>\n-0.3744 %<\/td>\n4,284.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.3744 %<\/td>\n3,343.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.3701 %<\/td>\n2,792.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.17 %<\/td>\n6.28 %<\/td>\n51,992<\/td>\n13.47<\/td>\n31<\/td>\n-1.3701 %<\/td>\n3,044.5<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.58 %<\/td>\n7.07 %<\/td>\n100,013<\/td>\n12.35<\/td>\n58<\/td>\n0.1969 %<\/td>\n2,649.4<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.11 %<\/td>\n6.14 %<\/td>\n68,585<\/td>\n13.67<\/td>\n21<\/td>\n-3.0615 %<\/td>\n2,964.8<\/td>\n<\/tr>\n
FloatingReset<\/td>\n7.71 %<\/td>\n7.48 %<\/td>\n26,804<\/td>\n11.90<\/td>\n2<\/td>\n0.2478 %<\/td>\n2,834.3<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.40 %<\/td>\n5.56 %<\/td>\n183,486<\/td>\n3.73<\/td>\n7<\/td>\n0.1163 %<\/td>\n2,587.0<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1969 %<\/td>\n2,708.3<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.31 %<\/td>\n6.29 %<\/td>\n82,212<\/td>\n13.43<\/td>\n14<\/td>\n-1.1544 %<\/td>\n2,768.9<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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\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.T<\/td>\nInsurance Straight<\/td>\n-19.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 7.60 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n-17.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 6.85 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n-11.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 7.59 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n-5.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.49
\nEvaluated at bid price : 18.49
\nBid-YTW : 6.66 %<\/td>\n<\/tr>\n
BN.PF.F<\/td>\nFixedReset Disc<\/td>\n-5.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 7.89 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nInsurance Straight<\/td>\n-4.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.35
\nEvaluated at bid price : 20.35
\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n
CU.PR.J<\/td>\nPerpetual-Discount<\/td>\n-4.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.80
\nEvaluated at bid price : 18.80
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n-4.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\n-4.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.27
\nEvaluated at bid price : 20.27
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n-3.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n-3.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n-3.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n-2.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.56
\nEvaluated at bid price : 21.82
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
PWF.PR.O<\/td>\nPerpetual-Discount<\/td>\n-2.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.73
\nEvaluated at bid price : 23.02
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
FFH.PR.K<\/td>\nFixedReset Disc<\/td>\n-2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 7.44 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n-2.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.90
\nEvaluated at bid price : 19.90
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetual-Discount<\/td>\n-2.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.50
\nEvaluated at bid price : 22.76
\nBid-YTW : 6.36 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.25
\nEvaluated at bid price : 18.25
\nBid-YTW : 6.83 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.52
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
POW.PR.C<\/td>\nPerpetual-Discount<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 23.25
\nEvaluated at bid price : 23.55
\nBid-YTW : 6.22 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.28
\nEvaluated at bid price : 22.55
\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.15
\nEvaluated at bid price : 22.43
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n-1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.90
\nEvaluated at bid price : 21.90
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n-1.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.94
\nEvaluated at bid price : 19.94
\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n
BN.PF.D<\/td>\nPerpetual-Discount<\/td>\n-1.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.40
\nEvaluated at bid price : 19.40
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n-1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.71
\nEvaluated at bid price : 19.71
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Discount<\/td>\n-1.74 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.73
\nEvaluated at bid price : 21.98
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n-1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.89
\nEvaluated at bid price : 22.31
\nBid-YTW : 6.95 %<\/td>\n<\/tr>\n
IFC.PR.K<\/td>\nInsurance Straight<\/td>\n-1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.30
\nEvaluated at bid price : 21.58
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n-1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.68
\nEvaluated at bid price : 18.68
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n
ENB.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.26
\nEvaluated at bid price : 22.53
\nBid-YTW : 6.22 %<\/td>\n<\/tr>\n
PVS.PR.J<\/td>\nSplitShare<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2028-02-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.00
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.16
\nEvaluated at bid price : 20.16
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n-1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.76
\nEvaluated at bid price : 18.76
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.67
\nEvaluated at bid price : 23.55
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
BN.PF.J<\/td>\nFixedReset Disc<\/td>\n-1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.11
\nEvaluated at bid price : 22.51
\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.05
\nEvaluated at bid price : 20.05
\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n-1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.65
\nEvaluated at bid price : 21.90
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
GWO.PR.L<\/td>\nInsurance Straight<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.71
\nEvaluated at bid price : 23.00
\nBid-YTW : 6.22 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset Disc<\/td>\n-1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.04
\nEvaluated at bid price : 20.04
\nBid-YTW : 6.65 %<\/td>\n<\/tr>\n
GWO.PR.S<\/td>\nInsurance Straight<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.49
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n
ENB.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 7.85 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nInsurance Straight<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 6.18 %<\/td>\n<\/tr>\n
FTS.PR.G<\/td>\nFixedReset Disc<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.35
\nEvaluated at bid price : 21.35
\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n
BN.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 15.25
\nEvaluated at bid price : 15.25
\nBid-YTW : 8.03 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n-1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.79
\nEvaluated at bid price : 23.78
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
FFH.PR.I<\/td>\nFixedReset Disc<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 7.73 %<\/td>\n<\/tr>\n
IFC.PR.I<\/td>\nInsurance Straight<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.11
\nEvaluated at bid price : 22.45
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nInsurance Straight<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 23.21
\nEvaluated at bid price : 23.51
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.60
\nEvaluated at bid price : 23.65
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
FFH.PR.C<\/td>\nFixedReset Disc<\/td>\n1.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.30
\nEvaluated at bid price : 23.05
\nBid-YTW : 6.78 %<\/td>\n<\/tr>\n
BN.PR.R<\/td>\nFixedReset Disc<\/td>\n2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 16.79
\nEvaluated at bid price : 16.79
\nBid-YTW : 7.68 %<\/td>\n<\/tr>\n
FTS.PR.M<\/td>\nFixedReset Disc<\/td>\n3.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.35
\nEvaluated at bid price : 20.35
\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n
BN.PF.B<\/td>\nFixedReset Disc<\/td>\n3.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.52
\nEvaluated at bid price : 20.52
\nBid-YTW : 7.23 %<\/td>\n<\/tr>\n
BN.PF.G<\/td>\nFixedReset Disc<\/td>\n3.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.35
\nEvaluated at bid price : 19.35
\nBid-YTW : 7.55 %<\/td>\n<\/tr>\n
ENB.PR.F<\/td>\nFixedReset Disc<\/td>\n5.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 7.75 %<\/td>\n<\/tr>\n
FFH.PR.G<\/td>\nFixedReset Disc<\/td>\n11.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 17.75
\nEvaluated at bid price : 17.75
\nBid-YTW : 7.75 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n16.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 6.18 %<\/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.C<\/td>\nFixedReset Disc<\/td>\n48,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.43
\nEvaluated at bid price : 23.31
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
BN.PF.A<\/td>\nFixedReset Disc<\/td>\n38,544<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 22.17
\nEvaluated at bid price : 22.71
\nBid-YTW : 6.88 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n29,145<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 21.46
\nEvaluated at bid price : 21.76
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n
BN.PF.G<\/td>\nFixedReset Disc<\/td>\n25,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.35
\nEvaluated at bid price : 19.35
\nBid-YTW : 7.55 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n18,147<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.16
\nEvaluated at bid price : 20.16
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n
ENB.PF.C<\/td>\nFixedReset Disc<\/td>\n17,309<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.19
\nEvaluated at bid price : 18.19
\nBid-YTW : 7.93 %<\/td>\n<\/tr>\n
There were 13 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
GWO.PR.T<\/td>\nInsurance Straight<\/td>\nQuote: 17.25 – 21.32
\nSpot Rate : 4.0700
\nAverage : 2.2017<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 7.60 %<\/td>\n<\/tr>\n

SLF.PR.D<\/td>\nInsurance Straight<\/td>\nQuote: 16.50 – 19.75
\nSpot Rate : 3.2500
\nAverage : 1.7622<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 6.85 %<\/td>\n<\/tr>\n

IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.00 – 21.22
\nSpot Rate : 3.2200
\nAverage : 2.1561<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 7.59 %<\/td>\n<\/tr>\n

BN.PF.F<\/td>\nFixedReset Disc<\/td>\nQuote: 19.00 – 20.40
\nSpot Rate : 1.4000
\nAverage : 0.9807<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 7.89 %<\/td>\n<\/tr>\n

CU.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 18.80 – 19.87
\nSpot Rate : 1.0700
\nAverage : 0.6754<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 18.80
\nEvaluated at bid price : 18.80
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n

PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.27 – 21.74
\nSpot Rate : 1.4700
\nAverage : 1.0847<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-06
\nMaturity Price : 20.27
\nEvaluated at bid price : 20.27
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

PerpetualDiscounts now yield 6.28%, equivalent to 8.16% interest at the standard equivalency factor of 1.3x. Long corporates yielded 4.85% on 2024-11-5 and since then the closing price of ZLC has changed from 15.40 to 15.34, …<\/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-47567","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47567","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=47567"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47567\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}