{"id":48810,"date":"2017-10-11T20:39:00","date_gmt":"2017-10-12T00:39:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=48810"},"modified":"2025-07-25T20:40:33","modified_gmt":"2025-07-26T00:40:33","slug":"october-11-2017","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=48810","title":{"rendered":"October 11, 2017"},"content":{"rendered":"

The salutary effects of Ontario’s minimum wage hike are becoming visible: one large company is thinking about what it’s doing and taking steps to increase productivity<\/a>:<\/p>\n

\n

Grocery store chain Metro Inc. says it will eliminate about 280 jobs starting in 2021 as part of a $400-million overhaul of its Ontario distribution network.<\/p>\n

The company says the move to modernize and automate its network will mean the loss of about 180 full-time and 100 part-time positions.<\/p>\n

The announcement follows comments by Metro in August that it would study automation as it looked to cut costs in the face of the Ontario government’s plan to raise the minimum wage next year.<\/p>\n<\/blockquote>\n

PerpetualDiscounts now yield 5.32%, equivalent to 6.92% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> now yield about 4.05%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 285bp, a significant narrowing from the 295bp reported October 4<\/a>.<\/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-0.2358 %<\/td>\n2,415.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2358 %<\/td>\n4,433.1<\/td>\n<\/tr>\n
Floater<\/td>\n3.78 %<\/td>\n3.94 %<\/td>\n28,764<\/td>\n17.58<\/td>\n4<\/td>\n-0.2358 %<\/td>\n2,554.8<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0066 %<\/td>\n3,074.6<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.74 %<\/td>\n4.66 %<\/td>\n75,736<\/td>\n4.39<\/td>\n6<\/td>\n0.0066 %<\/td>\n3,671.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0066 %<\/td>\n2,864.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.36 %<\/td>\n2.99 %<\/td>\n64,477<\/td>\n0.22<\/td>\n17<\/td>\n0.0417 %<\/td>\n2,816.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.36 %<\/td>\n5.32 %<\/td>\n62,163<\/td>\n14.91<\/td>\n19<\/td>\n0.0113 %<\/td>\n2,940.8<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.26 %<\/td>\n4.31 %<\/td>\n150,972<\/td>\n4.59<\/td>\n99<\/td>\n0.1883 %<\/td>\n2,469.8<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.08 %<\/td>\n5.58 %<\/td>\n101,012<\/td>\n6.02<\/td>\n30<\/td>\n0.1635 %<\/td>\n2,896.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.77 %<\/td>\n2.73 %<\/td>\n50,891<\/td>\n4.06<\/td>\n8<\/td>\n0.1197 %<\/td>\n2,676.6<\/td>\n<\/tr>\n<\/table>\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
ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 21.75
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 20.41
\nEvaluated at bid price : 20.41
\nBid-YTW : 4.75 %<\/td>\n<\/tr>\n
HSE.PR.E<\/td>\nFixedReset<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.68
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.52
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 24.05
\nEvaluated at bid price : 24.87
\nBid-YTW : 4.73 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 17.11
\nEvaluated at bid price : 17.11
\nBid-YTW : 4.82 %<\/td>\n<\/tr>\n
BMO.PR.Q<\/td>\nFixedReset<\/td>\n1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.35
\nBid-YTW : 4.74 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 20.09
\nEvaluated at bid price : 20.09
\nBid-YTW : 3.55 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.50
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n2.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 16.30
\nEvaluated at bid price : 16.30
\nBid-YTW : 4.50 %<\/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
TRP.PR.J<\/td>\nFixedReset<\/td>\n242,000<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.70
\nBid-YTW : 3.69 %<\/td>\n<\/tr>\n
TRP.PR.K<\/td>\nFixedReset<\/td>\n196,554<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.01
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
RY.PR.R<\/td>\nFixedReset<\/td>\n150,859<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-08-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.99
\nBid-YTW : 3.51 %<\/td>\n<\/tr>\n
NA.PR.A<\/td>\nFixedReset<\/td>\n110,695<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-08-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.13
\nBid-YTW : 4.01 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset<\/td>\n108,828<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 23.16
\nEvaluated at bid price : 23.57
\nBid-YTW : 4.38 %<\/td>\n<\/tr>\n
TD.PF.E<\/td>\nFixedReset<\/td>\n106,096<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.90
\nBid-YTW : 3.78 %<\/td>\n<\/tr>\n
There were 29 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
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\nQuote: 24.85 – 26.66
\nSpot Rate : 1.8100
\nAverage : 1.0178<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 24.60
\nEvaluated at bid price : 24.85
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n

BMO.PR.Q<\/td>\nFixedReset<\/td>\nQuote: 22.35 – 22.74
\nSpot Rate : 0.3900
\nAverage : 0.2523<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.35
\nBid-YTW : 4.74 %<\/td>\n<\/tr>\n

ELF.PR.G<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.00 – 22.38
\nSpot Rate : 0.3800
\nAverage : 0.2433<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 21.75
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n

GWO.PR.N<\/td>\nFixedReset<\/td>\nQuote: 17.35 – 17.75
\nSpot Rate : 0.4000
\nAverage : 0.2826<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.35
\nBid-YTW : 8.31 %<\/td>\n<\/tr>\n

BMO.PR.S<\/td>\nFixedReset<\/td>\nQuote: 23.80 – 24.08
\nSpot Rate : 0.2800
\nAverage : 0.1685<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2047-10-11
\nMaturity Price : 23.40
\nEvaluated at bid price : 23.80
\nBid-YTW : 4.32 %<\/td>\n<\/tr>\n

MFC.PR.L<\/td>\nFixedReset<\/td>\nQuote: 22.11 – 22.36
\nSpot Rate : 0.2500
\nAverage : 0.1745<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.11
\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The salutary effects of Ontario’s minimum wage hike are becoming visible: one large company is thinking about what it’s doing and taking steps to increase productivity: Grocery store chain Metro Inc. says it will eliminate …<\/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-48810","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48810","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=48810"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48810\/revisions"}],"predecessor-version":[{"id":48811,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/48810\/revisions\/48811"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}