{"id":47706,"date":"2024-12-10T20:54:55","date_gmt":"2024-12-11T01:54:55","guid":{"rendered":"https:\/\/prefblog.com\/?p=47706"},"modified":"2024-12-10T20:54:55","modified_gmt":"2024-12-11T01:54:55","slug":"december-10-2024","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=47706","title":{"rendered":"December 10, 2024"},"content":{"rendered":"

The Canadian preferred share market continued to show strength – up 0.41% today after setting a new 52-week high – aided by renewed murmers of a potential TD.PF.C redemption<\/a>.<\/p>\n

It’s a very odd market: there are enough players willing to bet that the market is cheap enough relative to other markets to make redemption speculation make sense, but not enough to actually raise the market to levels that would reflect this as a generalized rule. So it’s all special situations. I’ll be glad when things return to normal!<\/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>\n-0.3940 %<\/td>\n2,311.1<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.3940 %<\/td>\n4,432.6<\/td>\n<\/tr>\n
Floater<\/td>\n8.24 %<\/td>\n8.53 %<\/td>\n32,261<\/td>\n10.73<\/td>\n4<\/td>\n-0.3940 %<\/td>\n2,554.6<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1993 %<\/td>\n3,633.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.76 %<\/td>\n4.24 %<\/td>\n67,683<\/td>\n1.18<\/td>\n7<\/td>\n0.1993 %<\/td>\n4,339.4<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1993 %<\/td>\n3,385.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.6528 %<\/td>\n2,879.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.96 %<\/td>\n6.13 %<\/td>\n51,719<\/td>\n13.64<\/td>\n32<\/td>\n0.6528 %<\/td>\n3,139.4<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.45 %<\/td>\n6.66 %<\/td>\n102,934<\/td>\n12.76<\/td>\n53<\/td>\n0.3497 %<\/td>\n2,759.9<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.91 %<\/td>\n6.04 %<\/td>\n66,334<\/td>\n13.88<\/td>\n21<\/td>\n0.9957 %<\/td>\n3,065.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n6.41 %<\/td>\n5.97 %<\/td>\n32,726<\/td>\n12.79<\/td>\n4<\/td>\n0.5923 %<\/td>\n3,376.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.03 %<\/td>\n5.45 %<\/td>\n212,675<\/td>\n13.91<\/td>\n9<\/td>\n0.0434 %<\/td>\n2,600.6<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3497 %<\/td>\n2,821.1<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.18 %<\/td>\n5.94 %<\/td>\n86,734<\/td>\n13.91<\/td>\n14<\/td>\n0.0000 %<\/td>\n2,836.2<\/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
BN.PF.J<\/td>\nFixedReset Disc<\/td>\n-3.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 21.94
\nEvaluated at bid price : 22.26
\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-2.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.76
\nEvaluated at bid price : 23.71
\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetual-Discount<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 23.44
\nEvaluated at bid price : 23.73
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nInsurance Straight<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 23.68
\nEvaluated at bid price : 23.95
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
ENB.PR.D<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 18.56
\nEvaluated at bid price : 18.56
\nBid-YTW : 7.19 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.18
\nEvaluated at bid price : 22.46
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
IFC.PR.K<\/td>\nInsurance Straight<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 21.76
\nEvaluated at bid price : 22.10
\nBid-YTW : 6.05 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 20.18
\nEvaluated at bid price : 20.18
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 20.18
\nEvaluated at bid price : 20.18
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 21.73
\nEvaluated at bid price : 22.15
\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n
BN.PF.B<\/td>\nFixedReset Disc<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 21.52
\nEvaluated at bid price : 21.80
\nBid-YTW : 6.66 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 21.05
\nEvaluated at bid price : 21.05
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n
ENB.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.49
\nEvaluated at bid price : 22.75
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 18.79
\nEvaluated at bid price : 18.79
\nBid-YTW : 6.01 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 23.03
\nEvaluated at bid price : 23.30
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n1.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 19.18
\nEvaluated at bid price : 19.18
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.87 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 19.05
\nEvaluated at bid price : 19.05
\nBid-YTW : 6.37 %<\/td>\n<\/tr>\n
ENB.PF.G<\/td>\nFixedReset Disc<\/td>\n1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 18.41
\nEvaluated at bid price : 18.41
\nBid-YTW : 7.41 %<\/td>\n<\/tr>\n
FFH.PR.F<\/td>\nFloatingReset<\/td>\n2.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.72
\nEvaluated at bid price : 23.00
\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n
BN.PF.D<\/td>\nPerpetual-Discount<\/td>\n2.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 19.75
\nEvaluated at bid price : 19.75
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n2.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n2.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 20.57
\nEvaluated at bid price : 20.57
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n5.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 23.74
\nEvaluated at bid price : 24.77
\nBid-YTW : 5.16 %<\/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>\n300,026<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 23.74
\nEvaluated at bid price : 24.77
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n116,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 23.04
\nEvaluated at bid price : 24.10
\nBid-YTW : 5.29 %<\/td>\n<\/tr>\n
FFH.PR.C<\/td>\nFixedReset Prem<\/td>\n85,134<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-01-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.23
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
FFH.PR.E<\/td>\nFixedReset Disc<\/td>\n82,593<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.15
\nEvaluated at bid price : 22.80
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n
ENB.PR.Y<\/td>\nFixedReset Disc<\/td>\n48,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 18.25
\nEvaluated at bid price : 18.25
\nBid-YTW : 7.29 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n37,959<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 18.79
\nEvaluated at bid price : 18.79
\nBid-YTW : 6.01 %<\/td>\n<\/tr>\n
There were 24 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
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\nQuote: 23.91 – 24.75
\nSpot Rate : 0.8400
\nAverage : 0.4700<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.84
\nEvaluated at bid price : 23.91
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n

IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 23.71 – 24.50
\nSpot Rate : 0.7900
\nAverage : 0.4957<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.76
\nEvaluated at bid price : 23.71
\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n

BN.PF.J<\/td>\nFixedReset Disc<\/td>\nQuote: 22.26 – 23.10
\nSpot Rate : 0.8400
\nAverage : 0.5662<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 21.94
\nEvaluated at bid price : 22.26
\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n

PWF.PR.R<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.35 – 23.00
\nSpot Rate : 0.6500
\nAverage : 0.3909<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 22.06
\nEvaluated at bid price : 22.35
\nBid-YTW : 6.23 %<\/td>\n<\/tr>\n

SLF.PR.C<\/td>\nInsurance Straight<\/td>\nQuote: 20.20 – 20.89
\nSpot Rate : 0.6900
\nAverage : 0.4841<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 20.20
\nEvaluated at bid price : 20.20
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n

CU.PR.E<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.90 – 21.50
\nSpot Rate : 0.6000
\nAverage : 0.4102<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2054-12-10
\nMaturity Price : 20.90
\nEvaluated at bid price : 20.90
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Canadian preferred share market continued to show strength – up 0.41% today after setting a new 52-week high – aided by renewed murmers of a potential TD.PF.C redemption. It’s a very odd market: there …<\/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-47706","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47706","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=47706"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/47706\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}