{"id":49281,"date":"2018-04-20T20:52:00","date_gmt":"2018-04-21T00:52:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49281"},"modified":"2025-08-13T20:53:17","modified_gmt":"2025-08-14T00:53:17","slug":"april-20-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49281","title":{"rendered":"April 20, 2018"},"content":{"rendered":"<p>Amidst all the nastiness about pipelines and deep, meaningful debate regarding whether Trudeau is photographed too often, it&#8217;s nice to know that <a href=\"https:\/\/www.bloomberg.com\/news\/features\/2018-04-20\/h-1b-workers-are-leaving-trump-s-america-for-the-canadian-dream\">some things are going right in our country<\/a>:<\/p>\n<blockquote>\n<p>No one tracks exactly how many ditch their skilled visas for the permanent residency Canada offers, but during the first year of Trump\u2019s presidency, the number of tech professionals globally who got permanent residency in Canada ticked up almost 40 percent from 2016, to more than 11,000.<br \/><b>&#8230;<\/b><br \/>In 1967, Canada became the first country to adopt a points-based immigration system. The country regularly tweaks how it rates applicants based on national goals and research into what makes for successful integration: A job offer used to come with 600 points, but now it\u2019s worth just 200. Other factors like speaking fluent English or French\u2014or, even better, both\u2014have been given more weight over the years. Country of origin is irrelevant.<\/p>\n<p>In 2016, Canada increased national immigration levels to 300,000 new permanent residents annually. Last year, in consultation with trade groups, it created a program called the Global Skills Strategy to issue temporary work permits to people with job offers in certain categories, including senior software engineers, in as little as two weeks. Since the program started in June, more than 5,600 people have been granted permits, from the U.S., India, Pakistan, Brazil, and elsewhere.<\/p>\n<\/blockquote>\n<p>There was a chaotic close for preferreds today, with TXPR going from 705.02 at 3:58pm to a closing level of 701.28. I presume this is due to MOC imbalances driven by pseudo-portfolio-managers saving valuable time on the <a href=\"https:\/\/www.spice-indices.com\/idpfiles\/spice-assets\/resources\/public\/documents\/689152_2018-04-06preferredindexreview.pdf?force_download=true\">TXPR index rebalancing<\/a> by using the &#8220;Market on Close&#8221; feature at the Toronto Exchange &#8211; after all, it wasn&#8217;t merely Friday, it was Friday 4\/20 and they urgently needed to get out of the office! <\/p>\n<p>Look at CU.PR.G, for instance &#8230; volume of 262,607 on the day with, as far as I can tell from the <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=cu.pr.g\">TMX free web page<\/a> (damned if I&#8217;m going to spend any money on this nonsense) only 100 shares trading at 21.45 prior to the close and then &#8230; wham! A closing quote of 21.12-57 and a closing price of 21.14 compared to the virtually identical CU.PR.F at 21.49-62, closing price of 21.53.<\/p>\n<p>I&#8217;ll be paying more attention to this in the future &#8230; there might be an opportunity to make a few bucks with a few stink-bids and stink-offers, but it&#8217;s pretty chancy stuff.<\/p>\n<table border=\"1\">\n<tr>\n<td colspan=\"8\"><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.6544 %<\/td>\n<td>2,950.3<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.6544 %<\/td>\n<td>5,413.7<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>3.38 %<\/td>\n<td>3.57 %<\/td>\n<td>95,289<\/td>\n<td>18.37<\/td>\n<td>4<\/td>\n<td>-0.6544 %<\/td>\n<td>3,120.0<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.2301 %<\/td>\n<td>3,144.0<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.62 %<\/td>\n<td>4.59 %<\/td>\n<td>77,316<\/td>\n<td>5.10<\/td>\n<td>5<\/td>\n<td>-0.2301 %<\/td>\n<td>3,754.6<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.2301 %<\/td>\n<td>2,929.4<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.56 %<\/td>\n<td>-7.85 %<\/td>\n<td>78,092<\/td>\n<td>0.09<\/td>\n<td>11<\/td>\n<td>-0.1003 %<\/td>\n<td>2,870.5<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.40 %<\/td>\n<td>5.46 %<\/td>\n<td>65,947<\/td>\n<td>14.72<\/td>\n<td>24<\/td>\n<td>-0.2302 %<\/td>\n<td>2,942.4<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>4.32 %<\/td>\n<td>4.75 %<\/td>\n<td>171,796<\/td>\n<td>5.74<\/td>\n<td>104<\/td>\n<td>-0.2936 %<\/td>\n<td>2,503.3<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.15 %<\/td>\n<td>5.74 %<\/td>\n<td>91,316<\/td>\n<td>5.64<\/td>\n<td>28<\/td>\n<td>-0.3913 %<\/td>\n<td>2,933.5<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>3.03 %<\/td>\n<td>3.13 %<\/td>\n<td>32,941<\/td>\n<td>3.58<\/td>\n<td>11<\/td>\n<td>-0.2012 %<\/td>\n<td>2,757.3<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"4\"><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.K<\/td>\n<td>Floater<\/td>\n<td>-2.06 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 16.60<br \/>\nEvaluated at bid price : 16.60<br \/>\nBid-YTW : 3.66 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.B<\/td>\n<td>FixedReset<\/td>\n<td>-1.57 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2020-12-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.15<br \/>\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>-1.56 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 17.62<br \/>\nEvaluated at bid price : 17.62<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.54 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 21.12<br \/>\nEvaluated at bid price : 21.12<br \/>\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.C<\/td>\n<td>FixedReset<\/td>\n<td>-1.54 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 17.28<br \/>\nEvaluated at bid price : 17.28<br \/>\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset<\/td>\n<td>-1.53 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 19.31<br \/>\nEvaluated at bid price : 19.31<br \/>\nBid-YTW : 4.52 %<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.42 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.97<br \/>\nBid-YTW : 6.59 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.Z<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.38 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 23.24<br \/>\nEvaluated at bid price : 23.55<br \/>\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.H<\/td>\n<td>FixedReset<\/td>\n<td>-1.31 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-10-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.71<br \/>\nBid-YTW : 3.96 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.27 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 21.00<br \/>\nBid-YTW : 7.69 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.G<\/td>\n<td>FixedReset<\/td>\n<td>-1.09 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 23.30<br \/>\nEvaluated at bid price : 23.61<br \/>\nBid-YTW : 5.21 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>-1.07 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 19.50<br \/>\nEvaluated at bid price : 19.50<br \/>\nBid-YTW : 5.11 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.J<\/td>\n<td>FloatingReset<\/td>\n<td>-1.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 19.02<br \/>\nBid-YTW : 7.08 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.B<\/td>\n<td>FixedReset<\/td>\n<td>-1.03 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 16.32<br \/>\nEvaluated at bid price : 16.32<br \/>\nBid-YTW : 4.99 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.Z<\/td>\n<td>FixedReset<\/td>\n<td>-1.03 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 22.82<br \/>\nEvaluated at bid price : 24.05<br \/>\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 21.33<br \/>\nEvaluated at bid price : 21.33<br \/>\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>-1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 17.46<br \/>\nEvaluated at bid price : 17.46<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>-1.01 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 19.60<br \/>\nBid-YTW : 7.73 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.B<\/td>\n<td>Floater<\/td>\n<td>-1.01 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 16.73<br \/>\nEvaluated at bid price : 16.73<br \/>\nBid-YTW : 3.63 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.F<\/td>\n<td>FloatingReset<\/td>\n<td>1.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 19.74<br \/>\nEvaluated at bid price : 19.74<br \/>\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"4\"><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.S<\/td>\n<td>FixedReset<\/td>\n<td>533,079<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 23.00<br \/>\nEvaluated at bid price : 24.52<br \/>\nBid-YTW : 4.55 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.J<\/td>\n<td>FixedReset<\/td>\n<td>450,054<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2023-04-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.18<br \/>\nBid-YTW : 4.67 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>262,607<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 21.12<br \/>\nEvaluated at bid price : 21.12<br \/>\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.E<\/td>\n<td>FixedReset<\/td>\n<td>236,498<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 23.02<br \/>\nEvaluated at bid price : 24.60<br \/>\nBid-YTW : 4.64 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.D<\/td>\n<td>Perpetual-Discount<\/td>\n<td>217,800<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 21.33<br \/>\nEvaluated at bid price : 21.33<br \/>\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.L<\/td>\n<td>Deemed-Retractible<\/td>\n<td>177,739<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-05-20<br \/>\nMaturity Price  : 25.25<br \/>\nEvaluated at bid price : 25.86<br \/>\nBid-YTW : -19.00 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.S<\/td>\n<td>Deemed-Retractible<\/td>\n<td>163,575<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.87<br \/>\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.E<\/td>\n<td>FixedReset<\/td>\n<td>157,697<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 21.63<br \/>\nEvaluated at bid price : 22.05<br \/>\nBid-YTW : 5.02 %<\/td>\n<\/tr>\n<tr>\n<td>IAG.PR.I<\/td>\n<td>FixedReset<\/td>\n<td>157,355<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2023-03-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.26<br \/>\nBid-YTW : 4.74 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.Q<\/td>\n<td>FixedReset<\/td>\n<td>153,297<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.18<br \/>\nBid-YTW : 4.72 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.M<\/td>\n<td>Deemed-Retractible<\/td>\n<td>148,834<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-05-20<br \/>\nMaturity Price  : 25.25<br \/>\nEvaluated at bid price : 26.28<br \/>\nBid-YTW : -35.71 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.J<\/td>\n<td>FixedReset<\/td>\n<td>148,387<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-05-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.35<br \/>\nBid-YTW : 3.94 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.T<\/td>\n<td>FixedReset<\/td>\n<td>146,550<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 22.25<br \/>\nEvaluated at bid price : 22.65<br \/>\nBid-YTW : 4.80 %<\/td>\n<\/tr>\n<tr>\n<td>RY.PR.Q<\/td>\n<td>FixedReset<\/td>\n<td>137,168<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-05-24<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.50<br \/>\nBid-YTW : 3.74 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>126,463<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-05-15<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.07<br \/>\nBid-YTW : 3.99 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>116,320<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 17.62<br \/>\nEvaluated at bid price : 17.62<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<tr>\n<td>W.PR.K<\/td>\n<td>FixedReset<\/td>\n<td>110,140<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-01-15<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.91<br \/>\nBid-YTW : 3.89 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.S<\/td>\n<td>FixedReset<\/td>\n<td>110,041<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 22.74<br \/>\nEvaluated at bid price : 23.25<br \/>\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.O<\/td>\n<td>FixedReset<\/td>\n<td>104,184<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2021-06-19<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 26.45<br \/>\nBid-YTW : 3.83 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.E<\/td>\n<td>FixedReset<\/td>\n<td>104,028<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2023-03-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.21<br \/>\nBid-YTW : 4.89 %<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\">There were 87 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"3\"><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.L<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 25.86 &#8211; 26.39<br \/>\nSpot Rate  :  0.5300<br \/>\nAverage  :  0.3046<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2018-05-20<br \/>\nMaturity Price  : 25.25<br \/>\nEvaluated at bid price : 25.86<br \/>\nBid-YTW : -19.00 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.J<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 25.18 &#8211; 25.70<br \/>\nSpot Rate  :  0.5200<br \/>\nAverage  :  0.3113<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2023-04-30<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.18<br \/>\nBid-YTW : 4.67 %<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>Quote: 22.97 &#8211; 23.58<br \/>\nSpot Rate  :  0.6100<br \/>\nAverage  :  0.4082<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2025-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 22.97<br \/>\nBid-YTW : 6.59 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.B<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 25.15 &#8211; 25.70<br \/>\nSpot Rate  :  0.5500<br \/>\nAverage  :  0.3489<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2020-12-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.15<br \/>\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 19.31 &#8211; 19.77<br \/>\nSpot Rate  :  0.4600<br \/>\nAverage  :  0.2685<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 19.31<br \/>\nEvaluated at bid price : 19.31<br \/>\nBid-YTW : 4.52 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>Quote: 17.62 &#8211; 18.23<br \/>\nSpot Rate  :  0.6100<br \/>\nAverage  :  0.4226<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2048-04-20<br \/>\nMaturity Price  : 17.62<br \/>\nEvaluated at bid price : 17.62<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Amidst all the nastiness about pipelines and deep, meaningful debate regarding whether Trudeau is photographed too often, it&#8217;s nice to know that some things are going right in our country: No one tracks exactly how 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