{"id":49963,"date":"2025-09-04T20:04:38","date_gmt":"2025-09-05T00:04:38","guid":{"rendered":"https:\/\/prefblog.com\/?p=49963"},"modified":"2025-09-04T20:04:38","modified_gmt":"2025-09-05T00:04:38","slug":"september-4-2025","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49963","title":{"rendered":"September 4, 2025"},"content":{"rendered":"

Hats off, again, to the medical profession<\/a>!<\/p>\n

As national medical, scientific, public health and patient organizations, we call for the resignation of HHS Secretary Robert F. Kennedy Jr. to ensure the health of the American people. <\/p>\n

Forcing high-level CDC expert leaders to turn their back on decades of sound science to meet Kennedy\u2019s agenda puts us all at risk. This final exclamation point on a term defined by repeated efforts to undermine science and public health definitively leaves Americans less safe in a multitude of ways:
…<\/b>
We are gravely concerned that American people will needlessly suffer and die as a result of policies that turn away from sound interventions. After careful consideration, we insist on Kennedy\u2019s resignation to restore the integrity, credibility and science-driven mission of HHS and all its agencies. Our country needs leadership that will promote open, honest dialogue, not disregard decades of lifesaving science, spread misinformation, reverse medical progress and decimate programs that keep us safe. We are speaking out because protecting public health is our responsibility as physicians, scientists and patient advocates. It is also the responsibility of our elected officials, and we call for their support at this critical moment to protect the health of the nation. It is time to reverse course and begin rebuilding the public health infrastructure overseen by CDC. Kennedy has proven himself unwilling and ill-prepared to lead that effort. <\/p>\n

Thank you, \u202f <\/p>\n

Infectious Diseases Society of America\u202f
\n[20 other signatory organizations]<\/p><\/blockquote>\n

This follows the IDSA’s commentary<\/a> on the Monarez firing and consequent resignations discussed August 28<\/a>:<\/p>\n

The mass resignations of CDC expert leaders present a clear and present danger to Americans of all ages and leave our nation extremely vulnerable to a wide range of public health threats from outbreaks to bioterror attacks. As we near respiratory virus season, it is imperative that our country have expert public health leadership for effective surveillance, communications and responses. <\/p>\n

This loss of highly experienced CDC leadership is the latest devastating result of the Administration\u2019s sustained attacks on public health, and it absolutely must be the last. It is time for fundamental changes and a return to evidence-based policy. The Administration\u2019s current trajectory for destroying the public health system is reckless and cannot continue.<\/p><\/blockquote>\n

The organizations have more backbone than an entire caucus of Republicans.<\/p>\n

Meanwhile, the non-surreal world braces for tomorrow’s jobs number<\/a>:<\/p>\n

New metrics released Thursday showed that first-time claims for unemployment benefits rose to an 11-week high; that private-sector businesses sharply reined in their hiring last month; and that last month was the worst August for layoff announcements since the pandemic and, before that, the Great Recession.
…<\/b>
The latest data tees up an August jobs report that, when released Friday morning, is expected to show another month of tepid job gains. Economists have forecast that the economy added 80,000 jobs last month, which would be a slight increase from the slower-than-expected 73,000 net gain in July.<\/p><\/blockquote>\n

I’ve added a note about the Business Development Bank to yesterday’s post about OSFI<\/a>.<\/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>\n6.69 %<\/td>\n7.11 %<\/td>\n38,184<\/td>\n13.34<\/td>\n1<\/td>\n0.3659 %<\/td>\n2,459.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2511 %<\/td>\n4,667.5<\/td>\n<\/tr>\n
Floater<\/td>\n6.51 %<\/td>\n6.87 %<\/td>\n49,031<\/td>\n12.62<\/td>\n3<\/td>\n0.2511 %<\/td>\n2,689.9<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2653 %<\/td>\n3,639.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.81 %<\/td>\n4.57 %<\/td>\n58,866<\/td>\n3.42<\/td>\n6<\/td>\n0.2653 %<\/td>\n4,346.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2653 %<\/td>\n3,391.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.50 %<\/td>\n4.29 %<\/td>\n69,083<\/td>\n0.08<\/td>\n3<\/td>\n-0.1059 %<\/td>\n3,069.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.58 %<\/td>\n5.68 %<\/td>\n43,869<\/td>\n14.32<\/td>\n28<\/td>\n0.1099 %<\/td>\n3,368.9<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.91 %<\/td>\n6.20 %<\/td>\n118,496<\/td>\n13.38<\/td>\n32<\/td>\n-0.0753 %<\/td>\n3,032.3<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.46 %<\/td>\n5.47 %<\/td>\n53,746<\/td>\n14.62<\/td>\n18<\/td>\n0.8015 %<\/td>\n3,314.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n5.15 %<\/td>\n4.26 %<\/td>\n44,424<\/td>\n0.15<\/td>\n1<\/td>\n0.0396 %<\/td>\n3,811.0<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.66 %<\/td>\n5.09 %<\/td>\n119,411<\/td>\n2.44<\/td>\n21<\/td>\n0.0093 %<\/td>\n2,628.2<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0753 %<\/td>\n3,099.6<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.37 %<\/td>\n5.56 %<\/td>\n68,606<\/td>\n14.24<\/td>\n15<\/td>\n-1.6937 %<\/td>\n2,986.1<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-23.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 17.01
\nEvaluated at bid price : 17.01
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-3.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 18.05
\nEvaluated at bid price : 18.05
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n-2.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 23.42
\nEvaluated at bid price : 23.70
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
ENB.PR.N<\/td>\nFixedReset Disc<\/td>\n-1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 22.69
\nEvaluated at bid price : 23.50
\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 17.86
\nEvaluated at bid price : 17.86
\nBid-YTW : 5.96 %<\/td>\n<\/tr>\n
BN.PR.B<\/td>\nFloater<\/td>\n-1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 12.79
\nEvaluated at bid price : 12.79
\nBid-YTW : 6.93 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 21.83
\nEvaluated at bid price : 22.07
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
CU.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 21.06
\nEvaluated at bid price : 21.06
\nBid-YTW : 5.38 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 14.23
\nEvaluated at bid price : 14.23
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n1.86 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 20.86
\nEvaluated at bid price : 20.86
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n
GWO.PR.M<\/td>\nInsurance Straight<\/td>\n1.91 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-10-04
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.11
\nBid-YTW : -4.52 %<\/td>\n<\/tr>\n
ENB.PF.A<\/td>\nFixedReset Disc<\/td>\n1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 21.65
\nEvaluated at bid price : 21.97
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n1.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 21.52
\nEvaluated at bid price : 21.78
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n2.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nInsurance Straight<\/td>\n2.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 22.88
\nEvaluated at bid price : 23.15
\nBid-YTW : 5.56 %<\/td>\n<\/tr>\n
PVS.PR.M<\/td>\nSplitShare<\/td>\n2.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2031-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.37
\nBid-YTW : 4.87 %<\/td>\n<\/tr>\n
IFC.PR.I<\/td>\nInsurance Straight<\/td>\n6.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 24.17
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.60 %<\/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
FFH.PR.G<\/td>\nFixedReset Prem<\/td>\n289,600<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-10-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.12
\nBid-YTW : 4.67 %<\/td>\n<\/tr>\n
ENB.PF.C<\/td>\nFixedReset Disc<\/td>\n68,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 21.26
\nEvaluated at bid price : 21.26
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
BN.PR.K<\/td>\nFloater<\/td>\n59,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 12.90
\nEvaluated at bid price : 12.90
\nBid-YTW : 6.87 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n50,100<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 20.70
\nEvaluated at bid price : 20.70
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n
ENB.PR.B<\/td>\nFixedReset Disc<\/td>\n39,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 20.19
\nEvaluated at bid price : 20.19
\nBid-YTW : 6.64 %<\/td>\n<\/tr>\n
BN.PF.A<\/td>\nFixedReset Disc<\/td>\n28,527<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 23.37
\nEvaluated at bid price : 24.99
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
There were 12 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\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
See TMX DataLinx: ‘Last’ != ‘Close’<\/a> and the posts linked therein for an idea of why these quotes are so horrible.<\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\nQuote: 17.01 – 22.40
\nSpot Rate : 5.3900
\nAverage : 2.9178<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 17.01
\nEvaluated at bid price : 17.01
\nBid-YTW : 7.04 %<\/td>\n<\/tr>\n

BN.PF.J<\/td>\nFixedReset Prem<\/td>\nQuote: 25.11 – 26.11
\nSpot Rate : 1.0000
\nAverage : 0.6306<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 23.55
\nEvaluated at bid price : 25.11
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n

CU.PR.G<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.00 – 22.30
\nSpot Rate : 1.3000
\nAverage : 0.9535<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 21.00
\nEvaluated at bid price : 21.00
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n

BN.PR.B<\/td>\nFloater<\/td>\nQuote: 12.79 – 13.47
\nSpot Rate : 0.6800
\nAverage : 0.3880<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 12.79
\nEvaluated at bid price : 12.79
\nBid-YTW : 6.93 %<\/td>\n<\/tr>\n

CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.70 – 22.25
\nSpot Rate : 1.5500
\nAverage : 1.2678<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 20.70
\nEvaluated at bid price : 20.70
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n

IFC.PR.E<\/td>\nInsurance Straight<\/td>\nQuote: 23.70 – 24.40
\nSpot Rate : 0.7000
\nAverage : 0.4405<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-09-04
\nMaturity Price : 23.42
\nEvaluated at bid price : 23.70
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Hats off, again, to the medical profession! As national medical, scientific, public health and patient organizations, we call for the resignation of HHS Secretary Robert F. Kennedy Jr. to ensure the health of the American …<\/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-49963","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49963","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=49963"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49963\/revisions"}],"predecessor-version":[{"id":49966,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49963\/revisions\/49966"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}