{"id":50297,"date":"2019-05-02T22:00:00","date_gmt":"2019-05-03T02:00:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50297"},"modified":"2025-10-15T22:00:54","modified_gmt":"2025-10-16T02:00:54","slug":"may-2-2019","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50297","title":{"rendered":"May 2, 2019"},"content":{"rendered":"

Lots of Fed-betting today<\/a>:<\/p>\n

Treasury yields jumped as a wave of bets that the Fed will keep rates on hold longer than expected — before possibly cutting them — was unleashed in derivatives markets. Chairman Jerome Powell\u2019s comments on the \u201ctransient\u201d nature of factors keeping inflation below the target prompted a reassessment, with wagers on when a rate cut might happen shifting from December 2019 into 2020. The next clue on the health of the economy will be Friday\u2019s jobs report.<\/p>\n<\/blockquote>\n

This had an effect on Canadian bond yields<\/a>, with the 5-Year Canada yield up 7bp to 1.61%.<\/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>\n0.1368 %<\/td>\n2,073.0<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1368 %<\/td>\n3,803.8<\/td>\n<\/tr>\n
Floater<\/td>\n5.67 %<\/td>\n6.03 %<\/td>\n49,585<\/td>\n13.82<\/td>\n3<\/td>\n0.1368 %<\/td>\n2,192.1<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0227 %<\/td>\n3,286.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.69 %<\/td>\n4.85 %<\/td>\n80,123<\/td>\n4.29<\/td>\n7<\/td>\n-0.0227 %<\/td>\n3,925.1<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0227 %<\/td>\n3,062.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.51 %<\/td>\n-3.74 %<\/td>\n91,925<\/td>\n0.09<\/td>\n12<\/td>\n-0.0197 %<\/td>\n2,959.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.43 %<\/td>\n5.49 %<\/td>\n78,147<\/td>\n14.65<\/td>\n20<\/td>\n0.1168 %<\/td>\n3,099.6<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.25 %<\/td>\n5.29 %<\/td>\n172,921<\/td>\n15.06<\/td>\n63<\/td>\n0.0032 %<\/td>\n2,188.7<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.22 %<\/td>\n5.82 %<\/td>\n107,458<\/td>\n8.09<\/td>\n27<\/td>\n-0.0174 %<\/td>\n3,078.7<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.98 %<\/td>\n4.28 %<\/td>\n52,479<\/td>\n2.64<\/td>\n4<\/td>\n-0.1411 %<\/td>\n2,400.3<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.10 %<\/td>\n3.77 %<\/td>\n269,619<\/td>\n2.15<\/td>\n21<\/td>\n0.0389 %<\/td>\n2,587.1<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.98 %<\/td>\n3.92 %<\/td>\n158,774<\/td>\n2.65<\/td>\n3<\/td>\n0.0557 %<\/td>\n2,645.7<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.02 %<\/td>\n6.76 %<\/td>\n99,734<\/td>\n8.23<\/td>\n22<\/td>\n-0.2400 %<\/td>\n2,244.7<\/td>\n<\/tr>\n<\/table>\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
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-2.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.46
\nBid-YTW : 9.18 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.57 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 12.51
\nEvaluated at bid price : 12.51
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.59
\nBid-YTW : 6.86 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.61
\nBid-YTW : 9.37 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.34
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.50
\nBid-YTW : 7.63 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nDeemed-Retractible<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.49
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 14.21
\nEvaluated at bid price : 14.21
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 13.49
\nEvaluated at bid price : 13.49
\nBid-YTW : 5.13 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 5.20 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n2.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 14.30
\nEvaluated at bid price : 14.30
\nBid-YTW : 5.38 %<\/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
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n212,400<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 20.10
\nEvaluated at bid price : 20.10
\nBid-YTW : 5.36 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n89,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 18.10
\nEvaluated at bid price : 18.10
\nBid-YTW : 5.22 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n70,540<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 18.26
\nEvaluated at bid price : 18.26
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n63,100<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 22.35
\nEvaluated at bid price : 22.90
\nBid-YTW : 5.27 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Disc<\/td>\n61,400<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 22.05
\nEvaluated at bid price : 22.45
\nBid-YTW : 5.18 %<\/td>\n<\/tr>\n
PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\n54,050<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 23.07
\nEvaluated at bid price : 23.39
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
There were 28 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.T<\/td>\nFixedReset Disc<\/td>\nQuote: 15.90 – 16.53
\nSpot Rate : 0.6300
\nAverage : 0.4547<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 15.90
\nEvaluated at bid price : 15.90
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n

SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 14.46 – 14.89
\nSpot Rate : 0.4300
\nAverage : 0.2790<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.46
\nBid-YTW : 9.18 %<\/td>\n<\/tr>\n

MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\nQuote: 17.55 – 17.97
\nSpot Rate : 0.4200
\nAverage : 0.2725<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.55
\nBid-YTW : 7.99 %<\/td>\n<\/tr>\n

BAM.PF.I<\/td>\nFixedReset Disc<\/td>\nQuote: 24.45 – 24.77
\nSpot Rate : 0.3200
\nAverage : 0.1937<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 23.19
\nEvaluated at bid price : 24.45
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n

NA.PR.W<\/td>\nFixedReset Disc<\/td>\nQuote: 17.40 – 17.76
\nSpot Rate : 0.3600
\nAverage : 0.2417<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-02
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n

MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\nQuote: 22.34 – 22.72
\nSpot Rate : 0.3800
\nAverage : 0.2725<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.34
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Lots of Fed-betting today: Treasury yields jumped as a wave of bets that the Fed will keep rates on hold longer than expected — before possibly cutting them — was unleashed in derivatives markets. Chairman …<\/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-50297","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50297","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=50297"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50297\/revisions"}],"predecessor-version":[{"id":50298,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50297\/revisions\/50298"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}