{"id":50353,"date":"2019-05-31T10:28:00","date_gmt":"2019-05-31T14:28:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50353"},"modified":"2025-10-17T10:30:50","modified_gmt":"2025-10-17T14:30:50","slug":"may-31-2019","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50353","title":{"rendered":"May 31, 2019"},"content":{"rendered":"
<\/a>
Click for Big<\/i><\/div>\n

TXPR closed at 604.01<\/a>, down 0.72% on the day. Volume was 2.29-million, on the high side but nothing special in the context of the past thirty days. The low for the day was 601.96, down 1.06%, but the market commenced a slow (and feeble!) recovery just before 2pm.<\/p>\n

\"txpr_190531\"<\/a>
Click for Big<\/i><\/div>\n

Note that TXPR’s 52-week low is 596.56 – that’s not too far off!<\/p>\n

CPD closed at 12.10<\/a>, down 0.74% on the day. Volume of 78,406 was slightly above average in the context of the past thirty days.<\/p>\n

ZPR closed at 9.73<\/a>, down 1.02% on the day, after hitting a new 52-week low of 9.65. Volume of 254,914 was the highest of the past thirty days.<\/p>\n

Five-year Canada yields were down 9bp to 1.36%<\/a> today, enough to be considered a glib explanation for the preferred market carnage … although I confess that it still doesn’t make any sense to me why spreads should widen as yields decline! Where are the GIC refugees<\/a>?<\/p>\n

The shambles included the equity markets<\/a>:<\/p>\n

\n

Then the tweets on trade began. In early May, President Trump threatened new tariffs on Chinese products, shattering the calm as markets began a tailspin that was capped with a 1.3 percent drop for the S&P 500 on Friday.<\/p>\n

The benchmark index ended May down 6.6 percent, its first monthly decline of the year and its worst drop since an ugly sell-off at the end of 2018.<\/p>\n

The decline on Friday came after President Trump tweeted that he would impose a new tariff on all imports from Mexico \u2014 a tax that could rise to as high as 25 percent \u2014 unless the country\u2019s government took steps to address the flow of migrants across the United States\u2019 border, and Beijing announced plans to unveil a blacklist of foreign companies and people. China\u2019s move was seen as a retaliation against the Trump administration\u2019s efforts to deny American technology to Chinese companies.<\/p>\n

Earlier this month, the White House issued an order effectively barring sales by Huawei, China\u2019s leading networking company, broadening the conflict away from trade deficits and toward the difficult-to-resolve issues of technological dominance.
…<\/b>
Investors worldwide responded by pricing in the growing economic cost to the fight. Stock markets in trade-dependent economies such as Japan, South Korea and Germany also saw steep losses in May.<\/p>\n

On Friday, the drop in American stocks was sweeping: Investors dumped industrial and machinery stocks, shares of consumer products companies, and those of giant tech companies.
…<\/b>
To a certain extent, those low yields are pricing in growing expectations that the Federal Reserve will cut interest rates. According to the market for Fed Funds futures, traders are putting roughly 90 percent odds on the Fed cutting interest rates by the end of the year, up from about 38 percent in the middle of April.<\/p>\n<\/blockquote>\n

Some might consider it strange hubris for Trump to continue shaking his fist at logical allies while locked in a trade war with China – but I don’t consider it out of character at all. By me, he doesn’t care if it’s good policy; he doesn’t care if he can credibly claim a win after the dust has settled; he doesn’t care about the risks to the US economy. His base is convinced that the rest of the world is engaged in constant plotting to take away what is rightfully theirs, and they want a guy who will fight. So he fights. And, if he gets it right, the 29.1% of the voters who select him will outnumber the 28.9% of voters who don’t. That’s all that matters – and he’s proved himself to be a very astute counter of votes in the past.<\/p>\n

That’s the dark side of the matter for those poseurs who proclaim their cynicism by not voting. Campaigns cease to be about swinging the undecided and become solely a matter of motivating your base.<\/p>\n

There was a great big stack of new 52-week lows set for individual issues today, so the ‘new lows’ section of the newspaper should make for interesting reading!<\/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>\n-3.0278 %<\/td>\n1,977.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-3.0278 %<\/td>\n3,629.1<\/td>\n<\/tr>\n
Floater<\/td>\n5.94 %<\/td>\n6.31 %<\/td>\n54,266<\/td>\n13.35<\/td>\n3<\/td>\n-3.0278 %<\/td>\n2,091.5<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0285 %<\/td>\n3,301.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.72 %<\/td>\n4.76 %<\/td>\n77,422<\/td>\n4.27<\/td>\n7<\/td>\n-0.0285 %<\/td>\n3,942.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0285 %<\/td>\n3,076.2<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.57 %<\/td>\n4.99 %<\/td>\n82,591<\/td>\n14.27<\/td>\n12<\/td>\n-0.0398 %<\/td>\n2,931.6<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.50 %<\/td>\n5.52 %<\/td>\n72,027<\/td>\n14.61<\/td>\n20<\/td>\n-0.3802 %<\/td>\n3,067.2<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.55 %<\/td>\n5.60 %<\/td>\n162,900<\/td>\n14.48<\/td>\n63<\/td>\n-1.1818 %<\/td>\n2,070.1<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.31 %<\/td>\n6.00 %<\/td>\n98,405<\/td>\n8.08<\/td>\n27<\/td>\n-0.3182 %<\/td>\n3,059.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n4.09 %<\/td>\n4.91 %<\/td>\n48,558<\/td>\n2.55<\/td>\n4<\/td>\n-1.1757 %<\/td>\n2,342.5<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.18 %<\/td>\n4.49 %<\/td>\n228,726<\/td>\n2.10<\/td>\n21<\/td>\n-0.7163 %<\/td>\n2,557.5<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n2.00 %<\/td>\n4.50 %<\/td>\n137,125<\/td>\n2.57<\/td>\n3<\/td>\n-0.7252 %<\/td>\n2,619.6<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.28 %<\/td>\n7.32 %<\/td>\n107,957<\/td>\n8.18<\/td>\n22<\/td>\n-0.9678 %<\/td>\n2,158.8<\/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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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
BAM.PR.K<\/td>\nFloater<\/td>\n-4.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 11.01
\nEvaluated at bid price : 11.01
\nBid-YTW : 6.39 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-3.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 11.29
\nEvaluated at bid price : 11.29
\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n-3.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 21.29
\nEvaluated at bid price : 21.57
\nBid-YTW : 4.87 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-3.19 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 12.45
\nEvaluated at bid price : 12.45
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n-3.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.14
\nEvaluated at bid price : 17.14
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n-3.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 6.63 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-3.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 11.15
\nEvaluated at bid price : 11.15
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-3.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 13.59
\nEvaluated at bid price : 13.59
\nBid-YTW : 6.62 %<\/td>\n<\/tr>\n
BMO.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.65 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 22.05
\nEvaluated at bid price : 22.40
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset Disc<\/td>\n-2.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 21.41
\nEvaluated at bid price : 21.75
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n-2.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 16.75
\nEvaluated at bid price : 16.75
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-2.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.37
\nBid-YTW : 7.34 %<\/td>\n<\/tr>\n
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-2.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 16.00
\nBid-YTW : 8.69 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n-2.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 14.64
\nEvaluated at bid price : 14.64
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.33
\nBid-YTW : 7.49 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n-2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 19.15
\nEvaluated at bid price : 19.15
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n-2.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.29
\nEvaluated at bid price : 17.29
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n-2.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 18.86
\nEvaluated at bid price : 18.86
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n-2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.65
\nBid-YTW : 7.27 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.97 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 12.94
\nEvaluated at bid price : 12.94
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 13.73
\nEvaluated at bid price : 13.73
\nBid-YTW : 6.23 %<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n-1.92 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 12.75
\nEvaluated at bid price : 12.75
\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.47
\nEvaluated at bid price : 17.47
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 20.73
\nEvaluated at bid price : 20.73
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nDeemed-Retractible<\/td>\n-1.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.31
\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n-1.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 18.32
\nEvaluated at bid price : 18.32
\nBid-YTW : 6.05 %<\/td>\n<\/tr>\n
BAM.PF.G<\/td>\nFixedReset Disc<\/td>\n-1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.32
\nEvaluated at bid price : 17.32
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.35
\nEvaluated at bid price : 17.35
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n-1.72 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.71
\nEvaluated at bid price : 17.71
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Disc<\/td>\n-1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 20.15
\nEvaluated at bid price : 20.15
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 22.03
\nEvaluated at bid price : 22.27
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n
BAM.PR.T<\/td>\nFixedReset Disc<\/td>\n-1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 14.80
\nEvaluated at bid price : 14.80
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 16.78
\nEvaluated at bid price : 16.78
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n-1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Disc<\/td>\n-1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 21.27
\nEvaluated at bid price : 21.55
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
IAF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.42
\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n-1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.30
\nEvaluated at bid price : 17.30
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n-1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 16.10
\nEvaluated at bid price : 16.10
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
BMO.PR.B<\/td>\nFixedReset Prem<\/td>\n-1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-02-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.26
\nBid-YTW : 4.49 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n-1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 18.42
\nEvaluated at bid price : 18.42
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
BAM.PF.J<\/td>\nFixedReset Disc<\/td>\n-1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 21.99
\nEvaluated at bid price : 22.40
\nBid-YTW : 5.37 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n-1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.80
\nBid-YTW : 7.92 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.90
\nBid-YTW : 6.65 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.62
\nBid-YTW : 7.32 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.95
\nBid-YTW : 9.86 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 23.22
\nEvaluated at bid price : 23.52
\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n
BAM.PF.H<\/td>\nFixedReset Prem<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.00
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 16.43
\nEvaluated at bid price : 16.43
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Prem<\/td>\n-1.29 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.29
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.51
\nEvaluated at bid price : 17.51
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nDeemed-Retractible<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.50
\nBid-YTW : 6.84 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 19.76
\nEvaluated at bid price : 19.76
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 16.50
\nEvaluated at bid price : 16.50
\nBid-YTW : 5.97 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Prem<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 4.09 %<\/td>\n<\/tr>\n
BNS.PR.F<\/td>\nFloatingReset<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.90
\nBid-YTW : 4.91 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-1.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.11
\nBid-YTW : 8.33 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 13.12
\nEvaluated at bid price : 13.12
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Disc<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 21.36
\nEvaluated at bid price : 21.36
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.63
\nBid-YTW : 9.80 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-1.07 %<\/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 : 7.05 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.70
\nBid-YTW : 7.54 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 20.93
\nEvaluated at bid price : 20.93
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n
SLF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.10
\nBid-YTW : 7.31 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 19.21
\nEvaluated at bid price : 19.21
\nBid-YTW : 5.37 %<\/td>\n<\/tr>\n
GWO.PR.T<\/td>\nDeemed-Retractible<\/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 : 23.26
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
W.PR.K<\/td>\nFixedReset Prem<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-01-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.30
\nBid-YTW : 4.92 %<\/td>\n<\/tr>\n
CM.PR.T<\/td>\nFixedReset Prem<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 23.01
\nEvaluated at bid price : 24.55
\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n
TRP.PR.K<\/td>\nFixedReset Prem<\/td>\n-1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 23.25
\nEvaluated at bid price : 24.65
\nBid-YTW : 5.30 %<\/td>\n<\/tr>\n
BNS.PR.Z<\/td>\nFixedReset Bank Non<\/td>\n-1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.71
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n
IFC.PR.E<\/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 : 5.91 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 20.35
\nEvaluated at bid price : 20.35
\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n1.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 16.52
\nEvaluated at bid price : 16.52
\nBid-YTW : 5.73 %<\/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
HSE.PR.A<\/td>\nFixedReset Disc<\/td>\n117,840<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 12.30
\nEvaluated at bid price : 12.30
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n95,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 16.92
\nEvaluated at bid price : 16.92
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
HSE.PR.C<\/td>\nFixedReset Disc<\/td>\n57,155<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.85
\nEvaluated at bid price : 17.85
\nBid-YTW : 6.61 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n53,816<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 19.15
\nEvaluated at bid price : 19.15
\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n
RY.PR.S<\/td>\nFixedReset Disc<\/td>\n51,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 20.73
\nEvaluated at bid price : 20.73
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n51,105<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 18.80
\nEvaluated at bid price : 18.80
\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n
There were 49 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
HSE.PR.A<\/td>\nFixedReset Disc<\/td>\nQuote: 12.30 – 12.84
\nSpot Rate : 0.5400
\nAverage : 0.3356<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 12.30
\nEvaluated at bid price : 12.30
\nBid-YTW : 6.46 %<\/td>\n<\/tr>\n

HSE.PR.C<\/td>\nFixedReset Disc<\/td>\nQuote: 17.85 – 18.27
\nSpot Rate : 0.4200
\nAverage : 0.2404<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 17.85
\nEvaluated at bid price : 17.85
\nBid-YTW : 6.61 %<\/td>\n<\/tr>\n

CM.PR.Q<\/td>\nFixedReset Disc<\/td>\nQuote: 18.86 – 19.36
\nSpot Rate : 0.5000
\nAverage : 0.3214<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 18.86
\nEvaluated at bid price : 18.86
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n

CU.PR.E<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.27 – 22.76
\nSpot Rate : 0.4900
\nAverage : 0.3290<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 22.03
\nEvaluated at bid price : 22.27
\nBid-YTW : 5.52 %<\/td>\n<\/tr>\n

TRP.PR.G<\/td>\nFixedReset Disc<\/td>\nQuote: 18.32 – 18.70
\nSpot Rate : 0.3800
\nAverage : 0.2259<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-05-31
\nMaturity Price : 18.32
\nEvaluated at bid price : 18.32
\nBid-YTW : 6.05 %<\/td>\n<\/tr>\n

IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\nQuote: 20.90 – 21.35
\nSpot Rate : 0.4500
\nAverage : 0.3057<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.90
\nBid-YTW : 6.65 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Click for Big TXPR closed at 604.01, down 0.72% on the day. Volume was 2.29-million, on the high side but nothing special in the context of the past thirty days. The low for the day …<\/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-50353","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50353","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=50353"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50353\/revisions"}],"predecessor-version":[{"id":50354,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50353\/revisions\/50354"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}