{"id":49583,"date":"2018-08-10T22:02:00","date_gmt":"2018-08-11T02:02:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49583"},"modified":"2025-08-21T22:03:06","modified_gmt":"2025-08-22T02:03:06","slug":"august-10-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49583","title":{"rendered":"August 10, 2018"},"content":{"rendered":"

Jobs, jobs, … part-time civil-service jobs<\/a>!:<\/p>\n

The Canadian economy added about 54,000 new jobs last month, causing the jobless rate to fall two-tenths of a percentage point to 5.8 per cent.<\/p>\n

Statistics Canada said Friday that the economy added 82,000 part-time jobs, but that figure was offset by a loss of 28,000 full-time positions.<\/p>\n

The public sector added 49,600 new jobs, while the private sector added 5,200 positions.<\/p>\n<\/blockquote>\n

I was amused to see that everybody’s favourite whipping boys, the Credit Rating Agencies, received another touch of the lash today<\/a>:<\/p>\n

The lira has long been falling on worries about Erdogan\u2019s influence over monetary policy and worsening relations with the United States. That turned into a rout on Friday, with the lira diving more than 18 percent at one point, the biggest one-day drop since Turkey\u2019s 2001 financial crisis. <\/p>\n

It has also lost more than 40 percent this year, hitting a new record low after Trump took steps to punish Turkey in a wide-ranging dispute.
…<\/b>
Erdogan\u2019s characteristic defiance in the face of the crisis has further unnerved investors. The president, who says a shadowy \u201cinterest rate lobby\u201d and Western credit ratings agencies are attempting to bring down Turkey\u2019s economy, appealed to Turks\u2019 patriotism.<\/p>\n<\/blockquote>\n

Perhaps Mr. Erdogan and his boys will pay them a friendly visit<\/a>.<\/p>\n

… and now it’s time for me to get to work on PrefLetter<\/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-0.0538 %<\/td>\n3,102.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0538 %<\/td>\n5,692.4<\/td>\n<\/tr>\n
Floater<\/td>\n3.48 %<\/td>\n3.69 %<\/td>\n51,821<\/td>\n18.05<\/td>\n4<\/td>\n-0.0538 %<\/td>\n3,280.5<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0079 %<\/td>\n3,212.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.57 %<\/td>\n4.38 %<\/td>\n47,201<\/td>\n4.85<\/td>\n5<\/td>\n0.0079 %<\/td>\n3,836.2<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0079 %<\/td>\n2,993.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.62 %<\/td>\n-10.73 %<\/td>\n58,245<\/td>\n0.09<\/td>\n10<\/td>\n-0.0551 %<\/td>\n2,911.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.41 %<\/td>\n5.52 %<\/td>\n57,858<\/td>\n14.59<\/td>\n25<\/td>\n-0.1174 %<\/td>\n2,989.3<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.29 %<\/td>\n4.75 %<\/td>\n130,201<\/td>\n3.87<\/td>\n107<\/td>\n-0.2178 %<\/td>\n2,576.9<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.13 %<\/td>\n5.88 %<\/td>\n56,452<\/td>\n5.41<\/td>\n26<\/td>\n-0.0129 %<\/td>\n2,982.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.43 %<\/td>\n3.63 %<\/td>\n29,850<\/td>\n5.72<\/td>\n7<\/td>\n0.1500 %<\/td>\n2,840.9<\/td>\n<\/tr>\n<\/table>\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
BIP.PR.E<\/td>\nFixedReset<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2023-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.03
\nBid-YTW : 5.14 %<\/td>\n<\/tr>\n
MFC.PR.O<\/td>\nFixedReset<\/td>\n-1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-06-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.35
\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 17.71
\nEvaluated at bid price : 17.71
\nBid-YTW : 5.36 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset<\/td>\n-1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.75
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.85
\nBid-YTW : 7.98 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 17.24
\nEvaluated at bid price : 17.24
\nBid-YTW : 5.02 %<\/td>\n<\/tr>\n
TRP.PR.H<\/td>\nFloatingReset<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 17.32
\nEvaluated at bid price : 17.32
\nBid-YTW : 4.05 %<\/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
TD.PF.C<\/td>\nFixedReset<\/td>\n152,846<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 23.06
\nEvaluated at bid price : 23.50
\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset<\/td>\n109,963<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.30
\nBid-YTW : 4.13 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset<\/td>\n72,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 22.82
\nEvaluated at bid price : 23.45
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n
BNS.PR.R<\/td>\nFixedReset<\/td>\n43,200<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2019-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.13
\nBid-YTW : 3.01 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset<\/td>\n38,270<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 22.68
\nEvaluated at bid price : 23.10
\nBid-YTW : 4.84 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset<\/td>\n38,211<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.40
\nBid-YTW : 4.14 %<\/td>\n<\/tr>\n
There were 17 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
IFC.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 24.29 – 24.58
\nSpot Rate : 0.2900
\nAverage : 0.1926<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.29
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n

MFC.PR.O<\/td>\nFixedReset<\/td>\nQuote: 26.35 – 26.58
\nSpot Rate : 0.2300
\nAverage : 0.1379<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-06-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.35
\nBid-YTW : 3.91 %<\/td>\n<\/tr>\n

TRP.PR.G<\/td>\nFixedReset<\/td>\nQuote: 24.30 – 24.50
\nSpot Rate : 0.2000
\nAverage : 0.1303<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 23.23
\nEvaluated at bid price : 24.30
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n

BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.80 – 20.98
\nSpot Rate : 0.1800
\nAverage : 0.1140<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-08-10
\nMaturity Price : 20.80
\nEvaluated at bid price : 20.80
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n

GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.38 – 22.55
\nSpot Rate : 0.1700
\nAverage : 0.1057<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.38
\nBid-YTW : 6.98 %<\/td>\n<\/tr>\n

TD.PF.J<\/td>\nFixedReset<\/td>\nQuote: 25.50 – 25.70
\nSpot Rate : 0.2000
\nAverage : 0.1364<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2023-04-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.50
\nBid-YTW : 4.28 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Jobs, jobs, … part-time civil-service jobs!: The Canadian economy added about 54,000 new jobs last month, causing the jobless rate to fall two-tenths of a percentage point to 5.8 per cent. Statistics Canada said Friday …<\/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-49583","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49583","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=49583"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49583\/revisions"}],"predecessor-version":[{"id":49584,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49583\/revisions\/49584"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}