{"id":48329,"date":"2017-04-20T21:10:00","date_gmt":"2017-04-21T01:10:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48329"},"modified":"2025-07-17T21:11:11","modified_gmt":"2025-07-18T01:11:11","slug":"april-20-2017","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48329","title":{"rendered":"April 20, 2017"},"content":{"rendered":"<p>So, what the Liberal government of Ontario has done for electricity, they <a href=\"https:\/\/news.ontario.ca\/mof\/en\/2017\/04\/ontarios-fair-housing-plan.html\">are now doing for housing<\/a>:<\/p>\n<blockquote><p>Ontario&#8217;s Fair Housing Plan introduces a comprehensive package of measures to help more people find affordable homes, increase supply, protect buyers and renters and bring stability to the real estate market.<\/p>\n<\/blockquote>\n<p>The roots of the housing price boom are:<\/p>\n<ul>\n<li>low interest rates\n<li>an explosion of CMHC guarantees, and\n<li>unsatisfactory stock market returns<\/ul>\n<p>I don&#8217;t see anything in the plan that addresses any of that.<\/p>\n<table border=\"1\">\n<tr>\n<td colspan=\"8\"><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.4083 %<\/td>\n<td>2,147.3<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.4083 %<\/td>\n<td>3,940.1<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>3.55 %<\/td>\n<td>3.65 %<\/td>\n<td>44,980<\/td>\n<td>18.19<\/td>\n<td>4<\/td>\n<td>-0.4083 %<\/td>\n<td>2,270.7<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.1304 %<\/td>\n<td>3,023.7<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.94 %<\/td>\n<td>4.15 %<\/td>\n<td>54,223<\/td>\n<td>0.62<\/td>\n<td>6<\/td>\n<td>-0.1304 %<\/td>\n<td>3,610.9<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.1304 %<\/td>\n<td>2,817.4<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.28 %<\/td>\n<td>-6.10 %<\/td>\n<td>74,238<\/td>\n<td>0.09<\/td>\n<td>23<\/td>\n<td>0.1816 %<\/td>\n<td>2,787.3<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.08 %<\/td>\n<td>5.07 %<\/td>\n<td>108,450<\/td>\n<td>15.33<\/td>\n<td>13<\/td>\n<td>-0.0032 %<\/td>\n<td>2,997.3<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>4.38 %<\/td>\n<td>3.96 %<\/td>\n<td>235,704<\/td>\n<td>6.64<\/td>\n<td>94<\/td>\n<td>0.1465 %<\/td>\n<td>2,360.8<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>4.98 %<\/td>\n<td>4.49 %<\/td>\n<td>144,737<\/td>\n<td>0.10<\/td>\n<td>31<\/td>\n<td>0.1426 %<\/td>\n<td>2,892.5<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>2.55 %<\/td>\n<td>3.11 %<\/td>\n<td>56,094<\/td>\n<td>4.51<\/td>\n<td>9<\/td>\n<td>0.2146 %<\/td>\n<td>2,540.8<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"4\"><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.T<\/td>\n<td>FixedReset<\/td>\n<td>-1.15 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 22.76<br \/>\nEvaluated at bid price : 23.13<br \/>\nBid-YTW : 3.75 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>1.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.01<br \/>\nBid-YTW : 5.51 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.F<\/td>\n<td>FloatingReset<\/td>\n<td>1.54 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 19.11<br \/>\nEvaluated at bid price : 19.11<br \/>\nBid-YTW : 3.29 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.M<\/td>\n<td>FixedReset<\/td>\n<td>2.19 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 21.98<br \/>\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"4\"><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>360,183<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2022-05-25<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.83<br \/>\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.D<\/td>\n<td>FixedReset<\/td>\n<td>150,378<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 22.55<br \/>\nEvaluated at bid price : 23.24<br \/>\nBid-YTW : 4.04 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>102,113<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 16.99<br \/>\nEvaluated at bid price : 16.99<br \/>\nBid-YTW : 4.22 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.M<\/td>\n<td>FixedReset<\/td>\n<td>62,000<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 22.42<br \/>\nEvaluated at bid price : 23.08<br \/>\nBid-YTW : 3.96 %<\/td>\n<\/tr>\n<tr>\n<td>IAG.PR.G<\/td>\n<td>FixedReset<\/td>\n<td>56,850<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.05<br \/>\nBid-YTW : 5.18 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.T<\/td>\n<td>FixedReset<\/td>\n<td>45,769<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 20.00<br \/>\nEvaluated at bid price : 20.00<br \/>\nBid-YTW : 4.26 %<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\">There were 40 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"3\"><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>EML.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 26.62 &#8211; 27.09<br \/>\nSpot Rate  :  0.4700<br \/>\nAverage  :  0.3239<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-04-17<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.62<br \/>\nBid-YTW : 4.01 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.T<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 23.13 &#8211; 23.43<br \/>\nSpot Rate  :  0.3000<br \/>\nAverage  :  0.1998<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 22.76<br \/>\nEvaluated at bid price : 23.13<br \/>\nBid-YTW : 3.75 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.Z<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 22.12 &#8211; 22.45<br \/>\nSpot Rate  :  0.3300<br \/>\nAverage  :  0.2339<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.12<br \/>\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.H<\/td>\n<td>FloatingReset<\/td>\n<td>Quote: 13.87 &#8211; 14.14<br \/>\nSpot Rate  :  0.2700<br \/>\nAverage  :  0.1913<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2047-04-20<br \/>\nMaturity Price  : 13.87<br \/>\nEvaluated at bid price : 13.87<br \/>\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.J<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 26.82 &#8211; 27.10<br \/>\nSpot Rate  :  0.2800<br \/>\nAverage  :  0.2024<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-05-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.82<br \/>\nBid-YTW : 3.81 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.N<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 16.05 &#8211; 16.30<br \/>\nSpot Rate  :  0.2500<br \/>\nAverage  :  0.1734<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 16.05<br \/>\nBid-YTW : 8.73 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>So, what the Liberal government of Ontario has done for electricity, they are now doing for housing: Ontario&#8217;s Fair Housing Plan introduces a comprehensive package of measures to help more people find affordable homes, increase &hellip;<\/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-48329","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48329","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=48329"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48329\/revisions"}],"predecessor-version":[{"id":48330,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48329\/revisions\/48330"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}