{"id":49255,"date":"2018-03-05T22:02:00","date_gmt":"2018-03-06T03:02:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49255"},"modified":"2025-08-12T22:03:09","modified_gmt":"2025-08-13T02:03:09","slug":"march-5-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49255","title":{"rendered":"March 5, 2018"},"content":{"rendered":"

Canadian consumer confidence took a hit<\/a>:<\/p>\n

Economic sentiment cooled for a second straight month in February, according to polling by Nanos Research Group for Bloomberg News, with Canadians increasingly concerned about the sustainability of the nation\u2019s expansion. <\/p>\n

It\u2019s been a dramatic reversal in consumer confidence. Over the past two months, sentiment has dropped from near record highs to below average levels, reflecting an overall deterioration in economic conditions for households. These include three rate hikes by the Bank of Canada since July, a weakening Canadian dollar, sharp declines in stock prices, renewed worries about the housing market and a slowing economy.
…<\/b>
\nHighlights of the Consumer Confidence Report <\/p>\n

\u2022The decline in February was largely driven by expectations, rather than pocketbook issues
\n\u2022For example, Canadians are becoming more negative on the economy\u2019s outlook, with pessimists outnumbering optimists. About 22 percent of Canadians see the economy strengthening, versus about 28 percent who see it worsening. That\u2019s the biggest negative month-end gap since last May
\n\u2022A month ago, optimists outnumbered pessimists 28 percent to 23 percent
\n\u2022Expectations for real estate prices also showed a small deterioration in February
\n\u2022Pocketbook issues like job security and personal finances were largely stable or better in February, after posting large declines in January
\n\u2022Regionally, Alberta and British Columbia recorded sharp declines in sentiment in February, possibly reflecting a pipeline dispute between the two provinces.<\/p>\n<\/blockquote>\n

Meanwhile, sabre-rattling over trade continues<\/a>:<\/p>\n

The top U.S. trade envoy said on Monday that bilateral deals could replace NAFTA if the pact is not renegotiated soon, ramping up pressure on Canada and Mexico, already smarting from President Donald Trump’s plan to impose steel and aluminum tariffs.<\/p>\n

U.S. Trade Representative Robert Lighthizer said political headwinds would increase the longer the negotiations dragged on, warning that time to rework the 1994 trade deal was running “very short.”<\/p>\n

“We would prefer a three-way tripartite agreement. If that proves impossible, we are prepared to move on a bilateral basis,” Lighthizer said, reading from a statement in Mexico City at the end of a seventh round of talks.
…<\/b>
The Mexico City round of NAFTA talks was thrown into disarray after Trump announced a plan last week to impose a 25 per cent tariff on steel imports and a 10 per cent tariff on aluminum imports, arguing they were needed to protect U.S. industries and jobs.<\/p>\n

Trump tweeted earlier on Monday that “Tariffs on Steel and Aluminum will only come off if new & fair NAFTA agreement is signed.”<\/p>\n

Lighthizer said that meant Canada and Mexico would enjoy tariff exemptions once a NAFTA deal was reached, calling the tariffs an “incentive” to conclude the talks.<\/p>\n<\/blockquote>\n

But there is no unanimity<\/a>:<\/p>\n

U.S. House Speaker Paul Ryan urged the Trump administration not to move forward on the tariffs, citing risks to the economy, after Trump’s threats led to warnings about retaliatory moves from trading partners.<\/p>\n<\/blockquote>\n

But it’s entirely possible that the whole tariffs kerfuffle is just a negotiating tactic<\/a>. Hasn’t Trump bragged about the power of bluster when making deals?<\/p>\n

U.S. Trade Representative Robert Lighthizer said the Trump administration has offered to exclude Canada and Mexico from tariffs on steel and aluminum as an incentive to reach a deal on a new Nafta before a string of elections make it difficult.<\/p>\n

President Donald Trump\u2019s \u201cview was that it makes sense that if we get a successful agreement, to have them be excluded,\u201d Lighthizer told reporters in Mexico City on Monday following the seventh round of talks to renegotiate the North American Free Trade Agreement. \u201cIt\u2019s an incentive to get a deal.\u201d<\/p>\n<\/blockquote>\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>\n0.2962 %<\/td>\n3,064.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2962 %<\/td>\n5,623.1<\/td>\n<\/tr>\n
Floater<\/td>\n3.24 %<\/td>\n3.43 %<\/td>\n111,191<\/td>\n18.60<\/td>\n4<\/td>\n0.2962 %<\/td>\n3,240.6<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2516 %<\/td>\n3,162.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.70 %<\/td>\n4.20 %<\/td>\n65,046<\/td>\n3.31<\/td>\n5<\/td>\n0.2516 %<\/td>\n3,777.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2516 %<\/td>\n2,947.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.63 %<\/td>\n4.73 %<\/td>\n80,760<\/td>\n0.64<\/td>\n11<\/td>\n0.1441 %<\/td>\n2,824.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.36 %<\/td>\n5.54 %<\/td>\n92,733<\/td>\n14.55<\/td>\n23<\/td>\n-0.0598 %<\/td>\n2,919.9<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.26 %<\/td>\n4.52 %<\/td>\n168,781<\/td>\n5.92<\/td>\n102<\/td>\n-0.2184 %<\/td>\n2,513.8<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.20 %<\/td>\n5.75 %<\/td>\n93,598<\/td>\n5.76<\/td>\n28<\/td>\n0.0654 %<\/td>\n2,901.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.00 %<\/td>\n3.00 %<\/td>\n37,581<\/td>\n3.69<\/td>\n10<\/td>\n-0.0177 %<\/td>\n2,766.0<\/td>\n<\/tr>\n<\/table>\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
SLF.PR.H<\/td>\nFixedReset<\/td>\n-1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.74
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n-1.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.90
\nBid-YTW : 7.34 %<\/td>\n<\/tr>\n
TD.PF.E<\/td>\nFixedReset<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 23.19
\nEvaluated at bid price : 24.35
\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 22.90
\nEvaluated at bid price : 24.31
\nBid-YTW : 4.66 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 18.07
\nEvaluated at bid price : 18.07
\nBid-YTW : 4.82 %<\/td>\n<\/tr>\n<\/table>\n\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>\n1,095,945<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 23.08
\nEvaluated at bid price : 23.48
\nBid-YTW : 4.47 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset<\/td>\n679,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 22.82
\nEvaluated at bid price : 23.17
\nBid-YTW : 4.52 %<\/td>\n<\/tr>\n
TD.PF.H<\/td>\nFixedReset<\/td>\n368,702<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.82
\nBid-YTW : 4.03 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset<\/td>\n158,950<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.75
\nBid-YTW : 4.89 %<\/td>\n<\/tr>\n
BMO.PR.C<\/td>\nFixedReset<\/td>\n125,962<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.12
\nBid-YTW : 4.43 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset<\/td>\n116,926<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 23.11
\nEvaluated at bid price : 23.55
\nBid-YTW : 4.46 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset<\/td>\n106,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 22.90
\nEvaluated at bid price : 24.31
\nBid-YTW : 4.66 %<\/td>\n<\/tr>\n
There were 35 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
HSE.PR.E<\/td>\nFixedReset<\/td>\nQuote: 25.02 – 25.30
\nSpot Rate : 0.2800
\nAverage : 0.1983<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.02
\nBid-YTW : 4.31 %<\/td>\n<\/tr>\n

SLF.PR.H<\/td>\nFixedReset<\/td>\nQuote: 21.74 – 21.96
\nSpot Rate : 0.2200
\nAverage : 0.1486<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.74
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n

MFC.PR.N<\/td>\nFixedReset<\/td>\nQuote: 23.37 – 23.63
\nSpot Rate : 0.2600
\nAverage : 0.2022<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.37
\nBid-YTW : 5.25 %<\/td>\n<\/tr>\n

BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.60 – 21.82
\nSpot Rate : 0.2200
\nAverage : 0.1669<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-03-05
\nMaturity Price : 21.60
\nEvaluated at bid price : 21.60
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n

BMO.PR.R<\/td>\nFloatingReset<\/td>\nQuote: 24.71 – 24.85
\nSpot Rate : 0.1400
\nAverage : 0.0975<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.71
\nBid-YTW : 3.00 %<\/td>\n<\/tr>\n

TD.PF.I<\/td>\nFixedReset<\/td>\nQuote: 25.04 – 25.20
\nSpot Rate : 0.1600
\nAverage : 0.1185<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.04
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Canadian consumer confidence took a hit: Economic sentiment cooled for a second straight month in February, according to polling by Nanos Research Group for Bloomberg News, with Canadians increasingly concerned about the sustainability of the …<\/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-49255","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49255","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=49255"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49255\/revisions"}],"predecessor-version":[{"id":49256,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49255\/revisions\/49256"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}