{"id":47585,"date":"2024-11-12T23:05:27","date_gmt":"2024-11-13T04:05:27","guid":{"rendered":"https:\/\/prefblog.com\/?p=47585"},"modified":"2024-11-12T23:05:27","modified_gmt":"2024-11-13T04:05:27","slug":"november-12-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47585","title":{"rendered":"November 12, 2024"},"content":{"rendered":"

So, there are disconcerting rumblings about the Fed<\/a>:<\/p>\n

Elon Musk, a key Trump backer who is expected to have considerable sway in helping shape Trump\u2019s policies, included a \u201c100\u201d emoji while resharing Republican Sen. Mike Lee of Utah\u2019s post on X calling for abolishing the Fed.<\/p>\n

\u201cThe Executive Branch should be under the direction of the president,\u201d Lee said Thursday in a post on X, hours after Fed Chair Jerome Powell told reporters he wouldn\u2019t resign if Trump asked him to. \u201cThe Federal Reserve is one of many examples of how we\u2019ve deviated from the Constitution in that regard,\u201d Lee added. \u201cYet another reason why we should #EndTheFed.\u201d
…<\/b>
\u201cThe American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. He will deliver,\u201d Leavitt said in an emailed statement to CNN.<\/p>\n

Those promises include bringing interest rates \u201cway down,\u201d which Trump vowed to do if elected at the National Association of Black Journalists\u2019 annual conference in August. Presidents, however, don\u2019t have any direct influence over the rates Americans pay to borrow money.
…<\/b>
Trump floated requiring Fed officials to consult with him on interest rate decisions. That could lead to pressure on Fed officials to keep rates lower to satisfy Trump\u2019s wishes, which in turn could reignite inflation.<\/p>\n

During his first term, Trump also threatened to remove or demote Fed Chair Jerome Powell, whom he has at times blamed for keeping interest rates too high.<\/p><\/blockquote>\n

So how much would all that be worth in real life? Maybe a full point on 10-year treasuries, just for starters? All this would be on top of the firehosing of debt-funded money into the economy … well, Trump’s always been a fan of thugs like Erdogan and, I suppose, wants to do for the US what Erdogan’s done for Turkey.<\/p>\n

What a world! “Axe the tax” is considered incisive political commentary, and a provincial party can project economic growth of 5.4%<\/a> (in order to project a balanced budget, eventually) and still get a lot of votes … buckle your seatbelts, boys!<\/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>\n0.0426 %<\/td>\n2,149.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0426 %<\/td>\n4,122.3<\/td>\n<\/tr>\n
Floater<\/td>\n8.86 %<\/td>\n9.39 %<\/td>\n32,543<\/td>\n9.99<\/td>\n4<\/td>\n0.0426 %<\/td>\n2,375.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1269 %<\/td>\n3,601.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.80 %<\/td>\n5.42 %<\/td>\n71,420<\/td>\n2.14<\/td>\n6<\/td>\n-0.1269 %<\/td>\n4,300.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1269 %<\/td>\n3,355.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.7315 %<\/td>\n2,793.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n6.16 %<\/td>\n6.27 %<\/td>\n50,755<\/td>\n13.49<\/td>\n31<\/td>\n-0.7315 %<\/td>\n3,045.8<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.58 %<\/td>\n7.02 %<\/td>\n91,046<\/td>\n12.45<\/td>\n58<\/td>\n0.1640 %<\/td>\n2,648.7<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n6.02 %<\/td>\n6.13 %<\/td>\n64,039<\/td>\n13.67<\/td>\n21<\/td>\n0.1447 %<\/td>\n3,009.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n7.61 %<\/td>\n7.28 %<\/td>\n28,061<\/td>\n12.12<\/td>\n2<\/td>\n0.3695 %<\/td>\n2,855.3<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.39 %<\/td>\n5.59 %<\/td>\n174,934<\/td>\n3.72<\/td>\n7<\/td>\n0.4602 %<\/td>\n2,592.3<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1640 %<\/td>\n2,707.5<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.30 %<\/td>\n6.28 %<\/td>\n75,231<\/td>\n13.44<\/td>\n14<\/td>\n0.2829 %<\/td>\n2,771.3<\/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
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-18.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 7.61 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n-13.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 7.14 %<\/td>\n<\/tr>\n
BIP.PR.B<\/td>\nFixedReset Disc<\/td>\n-4.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 22.65
\nEvaluated at bid price : 23.15
\nBid-YTW : 8.09 %<\/td>\n<\/tr>\n
CU.PR.J<\/td>\nPerpetual-Discount<\/td>\n-4.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n-3.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 18.55
\nEvaluated at bid price : 18.55
\nBid-YTW : 6.65 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n-3.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 18.01
\nEvaluated at bid price : 18.01
\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n-2.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
ELF.PR.H<\/td>\nPerpetual-Discount<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 21.76
\nEvaluated at bid price : 22.01
\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n
BN.PF.A<\/td>\nFixedReset Disc<\/td>\n-1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 21.90
\nEvaluated at bid price : 22.29
\nBid-YTW : 7.02 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
MIC.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 20.10
\nEvaluated at bid price : 20.10
\nBid-YTW : 6.74 %<\/td>\n<\/tr>\n
BN.PR.Z<\/td>\nFixedReset Disc<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 20.40
\nEvaluated at bid price : 20.40
\nBid-YTW : 7.52 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Disc<\/td>\n1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 23.71
\nEvaluated at bid price : 24.21
\nBid-YTW : 6.79 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n
ENB.PF.G<\/td>\nFixedReset Disc<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 17.71
\nEvaluated at bid price : 17.71
\nBid-YTW : 7.97 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.72
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
ENB.PR.D<\/td>\nFixedReset Disc<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 18.01
\nEvaluated at bid price : 18.01
\nBid-YTW : 7.71 %<\/td>\n<\/tr>\n
FTS.PR.G<\/td>\nFixedReset Disc<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 21.38
\nEvaluated at bid price : 21.70
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset Disc<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 15.35
\nEvaluated at bid price : 15.35
\nBid-YTW : 7.24 %<\/td>\n<\/tr>\n
BIK.PR.A<\/td>\nFixedReset Prem<\/td>\n1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-04-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.07
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n8.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
BN.PF.I<\/td>\nFixedReset Disc<\/td>\n14.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 21.69
\nEvaluated at bid price : 22.15
\nBid-YTW : 7.58 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n29.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 19.90
\nEvaluated at bid price : 19.90
\nBid-YTW : 5.68 %<\/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
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n152,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 23.14
\nEvaluated at bid price : 24.83
\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n137,591<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 19.80
\nEvaluated at bid price : 19.80
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n101,857<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 22.23
\nEvaluated at bid price : 22.88
\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n
ENB.PR.T<\/td>\nFixedReset Disc<\/td>\n90,544<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 20.18
\nEvaluated at bid price : 20.18
\nBid-YTW : 7.36 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n71,907<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 23.96
\nEvaluated at bid price : 24.95
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n
BN.PF.G<\/td>\nFixedReset Disc<\/td>\n64,930<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 19.39
\nEvaluated at bid price : 19.39
\nBid-YTW : 7.52 %<\/td>\n<\/tr>\n
There were 14 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 – 21.20
\nSpot Rate : 3.9500
\nAverage : 2.3036<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 7.61 %<\/td>\n<\/tr>\n

BIP.PR.E<\/td>\nFixedReset Disc<\/td>\nQuote: 22.90 – 25.10
\nSpot Rate : 2.2000
\nAverage : 1.3186<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 22.34
\nEvaluated at bid price : 22.90
\nBid-YTW : 6.85 %<\/td>\n<\/tr>\n

PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\nQuote: 17.00 – 20.00
\nSpot Rate : 3.0000
\nAverage : 2.2562<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 7.14 %<\/td>\n<\/tr>\n

BIP.PR.B<\/td>\nFixedReset Disc<\/td>\nQuote: 23.15 – 24.50
\nSpot Rate : 1.3500
\nAverage : 0.7847<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 22.65
\nEvaluated at bid price : 23.15
\nBid-YTW : 8.09 %<\/td>\n<\/tr>\n

POW.PR.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.56 – 23.70
\nSpot Rate : 1.1400
\nAverage : 0.7214<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 22.29
\nEvaluated at bid price : 22.56
\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n

GWO.PR.S<\/td>\nInsurance Straight<\/td>\nQuote: 21.50 – 22.50
\nSpot Rate : 1.0000
\nAverage : 0.6397<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-11-12
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

So, there are disconcerting rumblings about the Fed: Elon Musk, a key Trump backer who is expected to have considerable sway in helping shape Trump\u2019s policies, included a \u201c100\u201d emoji while resharing Republican Sen. Mike …<\/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-47585","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47585","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=47585"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47585\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}