{"id":50345,"date":"2019-05-21T11:52:00","date_gmt":"2019-05-21T15:52:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50345"},"modified":"2025-10-16T11:53:26","modified_gmt":"2025-10-16T15:53:26","slug":"may-21-2019","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50345","title":{"rendered":"May 21, 2019"},"content":{"rendered":"

Canadian bond yields rose dramatically today with the five-year Canada bond yield up 8bp to 1.65%<\/a>. This may be related to a decrease in trade tensions<\/a>:<\/p>\n

\n

The Canadian dollar strengthened to an 11-day high against the greenback on Tuesday as investors calculated that the threat of trade uncertainty would ease for Canada even as they ramped up on countries with close economic links to China.<\/p>\n

Signs that Asia is already feeling the pinch from a trade conflict between the United States and China pushed the U.S. dollar to a four-week high against a basket of major currencies. <\/p>\n

Investors have worried that U.S. restrictions on Chinese telecoms equipment maker Huawei Technologies Co Ltd could lead to an escalation in the trade tensions between Washington and Beijing.<\/p>\n

Meanwhile, the United States has agreed to lift tariffs on steel and aluminum from Canada and Mexico. Canadian Foreign Minister Chrystia Freeland has since said that Canada will move quickly to ratify the new North American trade pact, called the United States-Mexico-Canada Agreement, or USMCA.<\/p>\n<\/blockquote>\n

Or maybe not. Who knows?<\/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>\n0.1920 %<\/td>\n2,069.0<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1920 %<\/td>\n3,796.5<\/td>\n<\/tr>\n
Floater<\/td>\n5.68 %<\/td>\n6.02 %<\/td>\n49,293<\/td>\n13.80<\/td>\n3<\/td>\n0.1920 %<\/td>\n2,187.9<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4435 %<\/td>\n3,297.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.70 %<\/td>\n4.85 %<\/td>\n82,009<\/td>\n4.24<\/td>\n7<\/td>\n0.4435 %<\/td>\n3,938.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4435 %<\/td>\n3,072.8<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.53 %<\/td>\n2.96 %<\/td>\n85,816<\/td>\n0.09<\/td>\n12<\/td>\n-0.0362 %<\/td>\n2,952.9<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.43 %<\/td>\n5.45 %<\/td>\n71,934<\/td>\n14.75<\/td>\n20<\/td>\n-0.1232 %<\/td>\n3,108.6<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.28 %<\/td>\n5.44 %<\/td>\n151,288<\/td>\n14.86<\/td>\n63<\/td>\n0.2205 %<\/td>\n2,176.2<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.22 %<\/td>\n5.81 %<\/td>\n95,400<\/td>\n8.04<\/td>\n27<\/td>\n0.1769 %<\/td>\n3,084.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.96 %<\/td>\n4.30 %<\/td>\n44,569<\/td>\n2.58<\/td>\n4<\/td>\n0.0895 %<\/td>\n2,412.3<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.11 %<\/td>\n3.84 %<\/td>\n242,759<\/td>\n2.10<\/td>\n21<\/td>\n0.0464 %<\/td>\n2,589.3<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.98 %<\/td>\n4.01 %<\/td>\n153,976<\/td>\n2.60<\/td>\n3<\/td>\n0.0973 %<\/td>\n2,649.4<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.08 %<\/td>\n6.75 %<\/td>\n93,907<\/td>\n8.23<\/td>\n22<\/td>\n0.4653 %<\/td>\n2,237.2<\/td>\n<\/tr>\n<\/table>\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
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 14.70
\nEvaluated at bid price : 14.70
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 22.21
\nEvaluated at bid price : 22.53
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.82
\nBid-YTW : 8.82 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nDeemed-Retractible<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.90
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 22.23
\nEvaluated at bid price : 22.74
\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.91
\nBid-YTW : 7.89 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 13.85
\nEvaluated at bid price : 13.85
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n
PVS.PR.E<\/td>\nSplitShare<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.75
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 13.01
\nEvaluated at bid price : 13.01
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.75
\nBid-YTW : 6.53 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.35
\nBid-YTW : 6.82 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n1.65 %<\/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 : 7.57 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.45
\nBid-YTW : 8.05 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n2.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 17.86
\nEvaluated at bid price : 17.86
\nBid-YTW : 5.51 %<\/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
BMO.PR.B<\/td>\nFixedReset Prem<\/td>\n121,215<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.80
\nBid-YTW : 3.62 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n54,023<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 18.14
\nEvaluated at bid price : 18.14
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n29,600<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.30
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n26,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 20.70
\nEvaluated at bid price : 20.70
\nBid-YTW : 5.26 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Disc<\/td>\n25,670<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 22.12
\nEvaluated at bid price : 22.54
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n24,516<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 22.35
\nEvaluated at bid price : 22.89
\nBid-YTW : 5.36 %<\/td>\n<\/tr>\n
There were 21 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
CCS.PR.C<\/td>\nDeemed-Retractible<\/td>\nQuote: 23.07 – 23.79
\nSpot Rate : 0.7200
\nAverage : 0.5114<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.07
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n

BAM.PF.B<\/td>\nFixedReset Disc<\/td>\nQuote: 18.01 – 18.46
\nSpot Rate : 0.4500
\nAverage : 0.2778<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 18.01
\nEvaluated at bid price : 18.01
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n

CU.PR.E<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.70 – 23.19
\nSpot Rate : 0.4900
\nAverage : 0.3405<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-21
\nMaturity Price : 22.33
\nEvaluated at bid price : 22.70
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n

IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.05 – 18.55
\nSpot Rate : 0.5000
\nAverage : 0.3611<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.05
\nBid-YTW : 8.06 %<\/td>\n<\/tr>\n

IAF.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 21.34 – 21.90
\nSpot Rate : 0.5600
\nAverage : 0.4282<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.34
\nBid-YTW : 6.23 %<\/td>\n<\/tr>\n

IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\nQuote: 14.88 – 15.30
\nSpot Rate : 0.4200
\nAverage : 0.3292<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.88
\nBid-YTW : 9.62 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Canadian bond yields rose dramatically today with the five-year Canada bond yield up 8bp to 1.65%. This may be related to a decrease in trade tensions: The Canadian dollar strengthened to an 11-day high against …<\/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-50345","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50345","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=50345"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50345\/revisions"}],"predecessor-version":[{"id":50346,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50345\/revisions\/50346"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}