{"id":49085,"date":"2018-01-10T21:32:00","date_gmt":"2018-01-11T02:32:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49085"},"modified":"2025-08-05T21:33:49","modified_gmt":"2025-08-06T01:33:49","slug":"january-10-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49085","title":{"rendered":"January 10, 2018"},"content":{"rendered":"

The Bay Street Boys have got all the mileage they could out of the ‘everything is rosy’ story, so now they’re shaking the other tree<\/a>:<\/p>\n

Mexico\u2019s peso and Canada\u2019s dollar dropped after reports the U.S. may pull out of the trillion-dollar trade pact that President Donald Trump has threatened to dump if it doesn\u2019t favor his nation.<\/p>\n

Both currencies pared losses after a White House official said there hasn\u2019t been any change in Trump\u2019s position on Nafta. The peso fell 0.5 percent to 19.3398 per dollar as of 3:33 p.m. in New York, after falling as much as 0.9 percent. The Canadian dollar slipped 0.6 percent to 1.2543 per dollar. Yields on Canadian government 2-year notes fell six basis points to 1.74 percent.<\/p>\n<\/blockquote>\n

The Five-Year Canada yield declined to 1.95%<\/a>.<\/p>\n

PerpetualDiscounts now yield 5.25%, equivalent to 6.83% interest at the standard equivalency factor of 1.3x. Long corporates<\/a> now yield about 3.90%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now about 295bp, a slight (and perhaps spurious) narrowing from the 300bp reported January 3<\/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>\n1.5479 %<\/td>\n2,855.1<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n1.5479 %<\/td>\n5,238.9<\/td>\n<\/tr>\n
Floater<\/td>\n3.22 %<\/td>\n3.36 %<\/td>\n35,767<\/td>\n18.87<\/td>\n4<\/td>\n1.5479 %<\/td>\n3,019.2<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0466 %<\/td>\n3,158.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.65 %<\/td>\n4.06 %<\/td>\n58,758<\/td>\n3.42<\/td>\n5<\/td>\n-0.0466 %<\/td>\n3,771.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0466 %<\/td>\n2,942.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.36 %<\/td>\n-0.57 %<\/td>\n55,100<\/td>\n0.09<\/td>\n18<\/td>\n-0.0218 %<\/td>\n2,861.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.30 %<\/td>\n5.25 %<\/td>\n73,936<\/td>\n15.06<\/td>\n16<\/td>\n-0.4881 %<\/td>\n2,997.2<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.17 %<\/td>\n4.15 %<\/td>\n139,752<\/td>\n3.86<\/td>\n98<\/td>\n-0.1486 %<\/td>\n2,546.8<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.04 %<\/td>\n5.38 %<\/td>\n81,297<\/td>\n5.86<\/td>\n28<\/td>\n-0.0545 %<\/td>\n2,956.3<\/td>\n<\/tr>\n
FloatingReset<\/td>\n2.97 %<\/td>\n2.56 %<\/td>\n37,946<\/td>\n1.03<\/td>\n10<\/td>\n0.1133 %<\/td>\n2,760.9<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n-2.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 21.65
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n-1.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n-1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 21.67
\nEvaluated at bid price : 22.03
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.85
\nBid-YTW : 3.45 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.24
\nBid-YTW : 4.81 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-11-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.26
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n
BAM.PF.I<\/td>\nFixedReset<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.20
\nBid-YTW : 3.62 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 23.33
\nEvaluated at bid price : 23.65
\nBid-YTW : 4.41 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.80
\nBid-YTW : 6.82 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 18.10
\nEvaluated at bid price : 18.10
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 21.05
\nEvaluated at bid price : 21.05
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 24.34
\nEvaluated at bid price : 24.65
\nBid-YTW : 5.32 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.45
\nBid-YTW : 6.50 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.15
\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 16.73
\nEvaluated at bid price : 16.73
\nBid-YTW : 3.36 %<\/td>\n<\/tr>\n
PWF.PR.T<\/td>\nFixedReset<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.11
\nBid-YTW : 3.56 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.76
\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 16.71
\nEvaluated at bid price : 16.71
\nBid-YTW : 3.37 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nDeemed-Retractible<\/td>\n1.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.45
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n3.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 16.75
\nEvaluated at bid price : 16.75
\nBid-YTW : 3.36 %<\/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
CM.PR.R<\/td>\nFixedReset<\/td>\n713,839<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.38
\nBid-YTW : 4.00 %<\/td>\n<\/tr>\n
TD.PR.S<\/td>\nFixedReset<\/td>\n180,700<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.00
\nBid-YTW : 3.05 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset<\/td>\n87,835<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 23.41
\nEvaluated at bid price : 23.73
\nBid-YTW : 4.39 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset<\/td>\n71,035<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.42
\nBid-YTW : 4.16 %<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nFixedReset<\/td>\n40,900<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.08
\nBid-YTW : 3.60 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset<\/td>\n40,860<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.74
\nBid-YTW : 4.83 %<\/td>\n<\/tr>\n
There were 36 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
GWO.PR.M<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.86 – 26.17
\nSpot Rate : 0.3100
\nAverage : 0.1910<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-02-09
\nMaturity Price : 25.50
\nEvaluated at bid price : 25.86
\nBid-YTW : -9.29 %<\/td>\n<\/tr>\n

HSE.PR.A<\/td>\nFixedReset<\/td>\nQuote: 18.10 – 18.49
\nSpot Rate : 0.3900
\nAverage : 0.2815<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 18.10
\nEvaluated at bid price : 18.10
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n

BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.00 – 22.45
\nSpot Rate : 0.4500
\nAverage : 0.3452<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 21.65
\nEvaluated at bid price : 22.00
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n

GWO.PR.N<\/td>\nFixedReset<\/td>\nQuote: 18.65 – 18.95
\nSpot Rate : 0.3000
\nAverage : 0.2031<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.65
\nBid-YTW : 7.51 %<\/td>\n<\/tr>\n

BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.45 – 21.71
\nSpot Rate : 0.2600
\nAverage : 0.1713<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n

BAM.PF.B<\/td>\nFixedReset<\/td>\nQuote: 24.30 – 24.57
\nSpot Rate : 0.2700
\nAverage : 0.1843<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-01-10
\nMaturity Price : 23.86
\nEvaluated at bid price : 24.30
\nBid-YTW : 4.73 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Bay Street Boys have got all the mileage they could out of the ‘everything is rosy’ story, so now they’re shaking the other tree: Mexico\u2019s peso and Canada\u2019s dollar dropped after reports the U.S. …<\/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-49085","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49085","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=49085"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49085\/revisions"}],"predecessor-version":[{"id":49086,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49085\/revisions\/49086"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}