{"id":49729,"date":"2018-10-23T20:44:00","date_gmt":"2018-10-24T00:44:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49729"},"modified":"2025-08-25T20:44:52","modified_gmt":"2025-08-26T00:44:52","slug":"october-23-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49729","title":{"rendered":"October 23, 2018"},"content":{"rendered":"

Another grim day for the Canadian preferred shares market. TXPR touched a new 52 Week low of 695.25 (note that this is the price index, not the total return index; saying that this is a 52-week low ignores interim dividends paid), while, unsurprisingly, CPD did the same, touching a new 52 Week low of 13.93 (with a similar not about dividends!). Volume in CPD was valued at $1.7-million<\/a> the highest in the past month, while the calculated volume of TXPR was on the high side for the past month<\/a>, but only a bit more than half the October 19 value.<\/p>\n\n\n\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>\n0.3258 %<\/td>\n3,100.3<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.3258 %<\/td>\n5,688.9<\/td>\n<\/tr>\n
Floater<\/td>\n3.50 %<\/td>\n3.72 %<\/td>\n40,596<\/td>\n18.03<\/td>\n4<\/td>\n0.3258 %<\/td>\n3,278.5<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0079 %<\/td>\n3,227.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.61 %<\/td>\n4.79 %<\/td>\n50,654<\/td>\n4.70<\/td>\n5<\/td>\n0.0079 %<\/td>\n3,854.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0079 %<\/td>\n3,007.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.65 %<\/td>\n5.08 %<\/td>\n78,665<\/td>\n14.02<\/td>\n12<\/td>\n-0.1169 %<\/td>\n2,895.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.61 %<\/td>\n5.75 %<\/td>\n76,432<\/td>\n14.27<\/td>\n21<\/td>\n-0.0362 %<\/td>\n2,921.7<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.24 %<\/td>\n5.16 %<\/td>\n148,400<\/td>\n15.32<\/td>\n45<\/td>\n-0.1914 %<\/td>\n2,567.5<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.35 %<\/td>\n6.80 %<\/td>\n63,847<\/td>\n5.23<\/td>\n27<\/td>\n-0.1135 %<\/td>\n2,891.4<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.67 %<\/td>\n3.79 %<\/td>\n43,510<\/td>\n5.52<\/td>\n4<\/td>\n-0.5109 %<\/td>\n2,835.6<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n4.89 %<\/td>\n4.29 %<\/td>\n259,630<\/td>\n3.06<\/td>\n34<\/td>\n-0.0162 %<\/td>\n2,559.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n3.11 %<\/td>\n3.61 %<\/td>\n79,497<\/td>\n0.33<\/td>\n8<\/td>\n0.0713 %<\/td>\n2,577.7<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.46 %<\/td>\n5.82 %<\/td>\n118,557<\/td>\n5.35<\/td>\n22<\/td>\n-0.0797 %<\/td>\n2,515.6<\/td>\n<\/tr>\n<\/table>\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.PR.R<\/td>\nFixedReset Disc<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 20.68
\nEvaluated at bid price : 20.68
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 20.47
\nEvaluated at bid price : 20.47
\nBid-YTW : 4.41 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.43
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n-1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.55
\nBid-YTW : 7.39 %<\/td>\n<\/tr>\n
IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 24.64
\nEvaluated at bid price : 24.95
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 17.68
\nEvaluated at bid price : 17.68
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.08
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.63
\nBid-YTW : 6.57 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Premium<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 23.97
\nEvaluated at bid price : 24.30
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.69
\nBid-YTW : 9.39 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 20.76
\nEvaluated at bid price : 20.76
\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.32
\nBid-YTW : 7.46 %<\/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
RY.PR.D<\/td>\nDeemed-Retractible<\/td>\n367,328<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-11-22
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.24
\nBid-YTW : 1.80 %<\/td>\n<\/tr>\n
RY.PR.Q<\/td>\nFixedReset Prem<\/td>\n111,908<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-05-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.26
\nBid-YTW : 3.82 %<\/td>\n<\/tr>\n
TD.PR.Y<\/td>\nFixedReset Bank Non<\/td>\n57,800<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2018-11-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.98
\nBid-YTW : 3.61 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n54,985<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.28
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Prem<\/td>\n44,600<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2023-11-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.19
\nBid-YTW : 4.82 %<\/td>\n<\/tr>\n
BIP.PR.C<\/td>\nFixedReset Prem<\/td>\n38,220<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.35
\nBid-YTW : 4.99 %<\/td>\n<\/tr>\n
There were 24 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
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\nQuote: 20.68 – 21.28
\nSpot Rate : 0.6000
\nAverage : 0.3956<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 20.68
\nEvaluated at bid price : 20.68
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n

IFC.PR.F<\/td>\nDeemed-Retractible<\/td>\nQuote: 23.25 – 23.99
\nSpot Rate : 0.7400
\nAverage : 0.5812<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.25
\nBid-YTW : 6.80 %<\/td>\n<\/tr>\n

BAM.PF.F<\/td>\nFixedReset Disc<\/td>\nQuote: 24.27 – 24.84
\nSpot Rate : 0.5700
\nAverage : 0.4177<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 23.74
\nEvaluated at bid price : 24.27
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n

BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.10 – 20.61
\nSpot Rate : 0.5100
\nAverage : 0.3612<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 20.10
\nEvaluated at bid price : 20.10
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n

IGM.PR.B<\/td>\nPerpetual-Premium<\/td>\nQuote: 24.95 – 25.37
\nSpot Rate : 0.4200
\nAverage : 0.2881<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 24.64
\nEvaluated at bid price : 24.95
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n

BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.71 – 21.17
\nSpot Rate : 0.4600
\nAverage : 0.3373<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-23
\nMaturity Price : 20.71
\nEvaluated at bid price : 20.71
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Another grim day for the Canadian preferred shares market. TXPR touched a new 52 Week low of 695.25 (note that this is the price index, not the total return index; saying that this is a …<\/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-49729","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49729","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=49729"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49729\/revisions"}],"predecessor-version":[{"id":49730,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49729\/revisions\/49730"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}