{"id":48482,"date":"2017-06-15T19:56:00","date_gmt":"2017-06-15T23:56:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48482"},"modified":"2025-07-21T19:57:20","modified_gmt":"2025-07-21T23:57:20","slug":"june-15-2017","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48482","title":{"rendered":"June 15, 2017"},"content":{"rendered":"

What a difference a week makes<\/a>!<\/p>\n

\n

Investors and economists are recalibrating rate forecasts after the central bank\u2019s surprise talk of tightening this week signaled a policy move could come sooner rather than later.<\/p>\n

A Bloomberg survey of 17 economists found the majority now project a rate increase this year. Six predict higher rates in October and two suggest a September hike. That\u2019s an about face from a week ago, when only two forecasters were projecting rates would rise in 2017.<\/p>\n

Traders are also pricing in a full 25 basis point increase to the central bank\u2019s 0.5 percent benchmark interest rate by the December meeting, according to Bloomberg calculations on overnight index swaps.
…<\/b>
Swaps trading on Thursday showed a 46 percent chance of an increase in July, and a 75 percent chance of one by December. A week ago the odds were 5 percent and 27 percent.<\/p>\n<\/blockquote>\n

The Canada five-year<\/a> bounced upwards today, closing at 1.14%.<\/p>\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-0.2321 %<\/td>\n2,162.0<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2321 %<\/td>\n3,967.1<\/td>\n<\/tr>\n
Floater<\/td>\n3.66 %<\/td>\n3.66 %<\/td>\n78,835<\/td>\n18.17<\/td>\n3<\/td>\n-0.2321 %<\/td>\n2,286.2<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0157 %<\/td>\n3,053.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.71 %<\/td>\n4.34 %<\/td>\n69,467<\/td>\n1.51<\/td>\n5<\/td>\n-0.0157 %<\/td>\n3,646.4<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0157 %<\/td>\n2,845.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.28 %<\/td>\n4.35 %<\/td>\n72,474<\/td>\n3.41<\/td>\n25<\/td>\n-0.0187 %<\/td>\n2,795.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.10 %<\/td>\n5.08 %<\/td>\n92,557<\/td>\n15.27<\/td>\n12<\/td>\n0.0000 %<\/td>\n3,005.5<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.42 %<\/td>\n3.96 %<\/td>\n201,657<\/td>\n6.56<\/td>\n96<\/td>\n0.5350 %<\/td>\n2,350.2<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n4.98 %<\/td>\n5.02 %<\/td>\n119,678<\/td>\n6.24<\/td>\n30<\/td>\n-0.0027 %<\/td>\n2,902.7<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.47 %<\/td>\n2.92 %<\/td>\n55,183<\/td>\n4.37<\/td>\n10<\/td>\n0.3747 %<\/td>\n2,563.7<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
HSE.PR.E<\/td>\nFixedReset<\/td>\n1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 23.10
\nEvaluated at bid price : 24.21
\nBid-YTW : 4.62 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 16.47
\nBid-YTW : 8.50 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.34
\nBid-YTW : 4.78 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.51
\nBid-YTW : 6.68 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 15.94
\nEvaluated at bid price : 15.94
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n
BAM.PF.A<\/td>\nFixedReset<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 22.51
\nEvaluated at bid price : 22.95
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.15
\nBid-YTW : 7.63 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset<\/td>\n1.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 21.63
\nEvaluated at bid price : 22.05
\nBid-YTW : 3.80 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 15.89
\nEvaluated at bid price : 15.89
\nBid-YTW : 4.15 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 15.80
\nBid-YTW : 8.61 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset<\/td>\n1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.84
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.61
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 22.81
\nEvaluated at bid price : 23.78
\nBid-YTW : 4.06 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset<\/td>\n1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 16.51
\nEvaluated at bid price : 16.51
\nBid-YTW : 3.85 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.86
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 14.78
\nEvaluated at bid price : 14.78
\nBid-YTW : 3.78 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.37
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset<\/td>\n1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.84
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset<\/td>\n2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.37
\nBid-YTW : 5.94 %<\/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
RY.PR.R<\/td>\nFixedReset<\/td>\n168,665<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.97
\nBid-YTW : 3.57 %<\/td>\n<\/tr>\n
RY.PR.Q<\/td>\nFixedReset<\/td>\n123,008<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-05-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.97
\nBid-YTW : 3.45 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset<\/td>\n110,550<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 21.26
\nEvaluated at bid price : 21.54
\nBid-YTW : 3.85 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset<\/td>\n109,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 22.70
\nEvaluated at bid price : 23.49
\nBid-YTW : 3.95 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset<\/td>\n109,039<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.61
\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset<\/td>\n98,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.43
\nBid-YTW : 3.88 %<\/td>\n<\/tr>\n
There were 45 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
CU.PR.C<\/td>\nFixedReset<\/td>\nQuote: 21.43 – 21.85
\nSpot Rate : 0.4200
\nAverage : 0.3351<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.43
\nBid-YTW : 3.95 %<\/td>\n<\/tr>\n

BAM.PF.H<\/td>\nFixedReset<\/td>\nQuote: 26.13 – 26.40
\nSpot Rate : 0.2700
\nAverage : 0.1904<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.13
\nBid-YTW : 3.59 %<\/td>\n<\/tr>\n

RY.PR.M<\/td>\nFixedReset<\/td>\nQuote: 22.88 – 23.10
\nSpot Rate : 0.2200
\nAverage : 0.1438<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-06-15
\nMaturity Price : 22.32
\nEvaluated at bid price : 22.88
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n

IAG.PR.G<\/td>\nFixedReset<\/td>\nQuote: 22.42 – 22.67
\nSpot Rate : 0.2500
\nAverage : 0.1749<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.42
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n

BMO.PR.Q<\/td>\nFixedReset<\/td>\nQuote: 21.37 – 21.67
\nSpot Rate : 0.3000
\nAverage : 0.2285<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.37
\nBid-YTW : 5.46 %<\/td>\n<\/tr>\n

NA.PR.A<\/td>\nFixedReset<\/td>\nQuote: 26.75 – 26.92
\nSpot Rate : 0.1700
\nAverage : 0.1102<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-08-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.75
\nBid-YTW : 3.72 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

What a difference a week makes! Investors and economists are recalibrating rate forecasts after the central bank\u2019s surprise talk of tightening this week signaled a policy move could come sooner rather than later. A Bloomberg …<\/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-48482","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48482","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=48482"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48482\/revisions"}],"predecessor-version":[{"id":48483,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48482\/revisions\/48483"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}