{"id":48434,"date":"2017-05-02T22:27:00","date_gmt":"2017-05-03T02:27:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48434"},"modified":"2025-07-18T22:28:29","modified_gmt":"2025-07-19T02:28:29","slug":"may-2-2017","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48434","title":{"rendered":"May 2, 2017"},"content":{"rendered":"

Technology is having its effect! The relative price of services is rising, but the price of ‘stuff’ is falling<\/a>:<\/p>\n

\n

But another form of progress has led to what some economists call the \u201cWalmart effect\u201d: falling prices for a huge array of manufactured goods.<\/p>\n

Since the 1980s, for instance, the real price of a midrange color television has plummeted about tenfold, and televisions today are crisper, bigger, lighter and often Internet-connected. Similarly, the effective price of clothing, bicycles, small appliances, processed foods \u2014 virtually anything produced in a factory \u2014 has followed a downward trajectory. The result is that Americans can buy much more stuff at bargain prices.<\/p>\n

Many crucial services, though, remain out of reach for poor families. The costs of a college education and health care have soared.<\/p>\n<\/blockquote>\n

\"priceofstuff\"<\/a>
Click for Big<\/i><\/div>\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-0.0936 %<\/td>\n2,153.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0936 %<\/td>\n3,951.2<\/td>\n<\/tr>\n
Floater<\/td>\n3.54 %<\/td>\n3.66 %<\/td>\n47,795<\/td>\n18.14<\/td>\n4<\/td>\n-0.0936 %<\/td>\n2,277.1<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0313 %<\/td>\n3,024.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.70 %<\/td>\n4.34 %<\/td>\n71,515<\/td>\n1.61<\/td>\n5<\/td>\n-0.0313 %<\/td>\n3,611.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0313 %<\/td>\n2,818.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.32 %<\/td>\n-0.63 %<\/td>\n73,804<\/td>\n0.09<\/td>\n22<\/td>\n-0.1669 %<\/td>\n2,780.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.06 %<\/td>\n5.10 %<\/td>\n105,359<\/td>\n15.31<\/td>\n14<\/td>\n0.0746 %<\/td>\n3,010.7<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.44 %<\/td>\n4.05 %<\/td>\n228,724<\/td>\n6.56<\/td>\n94<\/td>\n-0.3091 %<\/td>\n2,333.1<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.00 %<\/td>\n4.88 %<\/td>\n142,542<\/td>\n3.50<\/td>\n31<\/td>\n-0.0328 %<\/td>\n2,890.8<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.52 %<\/td>\n3.07 %<\/td>\n52,023<\/td>\n4.49<\/td>\n10<\/td>\n-0.0885 %<\/td>\n2,528.9<\/td>\n<\/tr>\n<\/table>\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
IFC.PR.A<\/td>\nFixedReset<\/td>\n-2.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.77
\nBid-YTW : 8.05 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset<\/td>\n-1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 16.10
\nBid-YTW : 8.88 %<\/td>\n<\/tr>\n
BAM.PF.G<\/td>\nFixedReset<\/td>\n-1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 22.44
\nEvaluated at bid price : 23.03
\nBid-YTW : 4.33 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset<\/td>\n-1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 21.99
\nEvaluated at bid price : 22.39
\nBid-YTW : 4.05 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset<\/td>\n-1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 16.55
\nEvaluated at bid price : 16.55
\nBid-YTW : 4.34 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 16.11
\nEvaluated at bid price : 16.11
\nBid-YTW : 4.02 %<\/td>\n<\/tr>\n
TRP.PR.K<\/td>\nFixedReset<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.98
\nBid-YTW : 4.24 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Premium<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.35
\nBid-YTW : -10.77 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset<\/td>\n1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 19.13
\nEvaluated at bid price : 19.13
\nBid-YTW : 3.96 %<\/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.A<\/td>\nFixedReset<\/td>\n183,365<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 21.34
\nEvaluated at bid price : 21.65
\nBid-YTW : 3.88 %<\/td>\n<\/tr>\n
BMO.PR.L<\/td>\nDeemed-Retractible<\/td>\n150,150<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.98
\nBid-YTW : 3.86 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset<\/td>\n79,601<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 16.11
\nEvaluated at bid price : 16.11
\nBid-YTW : 4.02 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n67,018<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 24.12
\nEvaluated at bid price : 24.37
\nBid-YTW : 5.10 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n56,800<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.71
\nBid-YTW : 3.11 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset<\/td>\n43,520<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.37
\nBid-YTW : 3.62 %<\/td>\n<\/tr>\n
There were 26 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.M<\/td>\nFixedReset<\/td>\nQuote: 21.52 – 21.94
\nSpot Rate : 0.4200
\nAverage : 0.2654<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.52
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n

RY.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.22 – 25.53
\nSpot Rate : 0.3100
\nAverage : 0.1749<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.22
\nBid-YTW : -9.26 %<\/td>\n<\/tr>\n

BAM.PR.X<\/td>\nFixedReset<\/td>\nQuote: 16.55 – 17.03
\nSpot Rate : 0.4800
\nAverage : 0.3699<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 16.55
\nEvaluated at bid price : 16.55
\nBid-YTW : 4.34 %<\/td>\n<\/tr>\n

MFC.PR.J<\/td>\nFixedReset<\/td>\nQuote: 22.71 – 23.02
\nSpot Rate : 0.3100
\nAverage : 0.2078<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.71
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n

TRP.PR.B<\/td>\nFixedReset<\/td>\nQuote: 14.26 – 14.63
\nSpot Rate : 0.3700
\nAverage : 0.2758<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-05-02
\nMaturity Price : 14.26
\nEvaluated at bid price : 14.26
\nBid-YTW : 4.06 %<\/td>\n<\/tr>\n

PWF.PR.E<\/td>\nPerpetual-Premium<\/td>\nQuote: 25.35 – 25.65
\nSpot Rate : 0.3000
\nAverage : 0.2066<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.35
\nBid-YTW : -10.77 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Technology is having its effect! The relative price of services is rising, but the price of ‘stuff’ is falling: But another form of progress has led to what some economists call the \u201cWalmart effect\u201d: falling …<\/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-48434","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48434","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=48434"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48434\/revisions"}],"predecessor-version":[{"id":48435,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48434\/revisions\/48435"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}