{"id":50431,"date":"2025-10-23T20:43:44","date_gmt":"2025-10-24T00:43:44","guid":{"rendered":"https:\/\/prefblog.com\/?p=50431"},"modified":"2025-10-23T20:43:44","modified_gmt":"2025-10-24T00:43:44","slug":"october-23-2025","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50431","title":{"rendered":"October 23, 2025"},"content":{"rendered":"

The TXPR Price Index hit a new 52-week high today of 683.66, edging the prior mark of 683.50 set yesterday.<\/p>\n

It’s nice to see some meaningful retaliation<\/a>:<\/p>\n

The federal government is firing back at Stellantis and General Motors by limiting the number of tariff-free vehicles the automakers can import from the U.S. to sell in Canada, CBC News has learned.<\/p>\n

The two multinational manufacturers will no longer be exempt from paying Canada\u2019s retaliatory tariffs on as many U.S.-assembled vehicles as before, sources said.<\/p>\n

The move is expected to put pressure on the companies to reinvest in Canadian production and workers to get this benefit back and avoid a big tariff bill.
…<\/b>
Effective immediately, the government is reducing the amount of American-assembled vehicles GM can import tariff-free by 24 per cent and cutting Stellantis’s amount by 50 per cent, sources said.<\/p><\/blockquote>\n

Yup. Let automakers import from the States at preferential tariff rates only as much as they export to the States. There are lots of other automakers from free-trade countries who will be happy to pick up any slack there might be.<\/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>\n6.55 %<\/td>\n7.01 %<\/td>\n19,861<\/td>\n13.48<\/td>\n1<\/td>\n0.0000 %<\/td>\n2,450.8<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.3306 %<\/td>\n4,582.2<\/td>\n<\/tr>\n
Floater<\/td>\n6.30 %<\/td>\n6.58 %<\/td>\n55,203<\/td>\n13.08<\/td>\n3<\/td>\n-0.3306 %<\/td>\n2,640.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0393 %<\/td>\n3,673.9<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.75 %<\/td>\n4.45 %<\/td>\n68,087<\/td>\n3.29<\/td>\n5<\/td>\n0.0393 %<\/td>\n4,387.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0393 %<\/td>\n3,423.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.47 %<\/td>\n-3.05 %<\/td>\n72,640<\/td>\n0.09<\/td>\n7<\/td>\n0.2827 %<\/td>\n3,105.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.54 %<\/td>\n5.58 %<\/td>\n44,597<\/td>\n14.54<\/td>\n26<\/td>\n1.3155 %<\/td>\n3,405.7<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.97 %<\/td>\n5.89 %<\/td>\n103,593<\/td>\n13.80<\/td>\n30<\/td>\n0.0150 %<\/td>\n3,060.3<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.45 %<\/td>\n5.49 %<\/td>\n55,865<\/td>\n14.62<\/td>\n22<\/td>\n-0.4611 %<\/td>\n3,334.7<\/td>\n<\/tr>\n
FloatingReset<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0150 %<\/td>\n3,640.6<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.63 %<\/td>\n4.79 %<\/td>\n121,455<\/td>\n2.76<\/td>\n22<\/td>\n0.0690 %<\/td>\n2,632.3<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0150 %<\/td>\n3,128.3<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.24 %<\/td>\n5.33 %<\/td>\n59,458<\/td>\n14.62<\/td>\n15<\/td>\n0.0349 %<\/td>\n3,060.8<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
ENB.PR.H<\/td>\nFixedReset Disc<\/td>\n-4.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.40
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nInsurance Straight<\/td>\n-3.87 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.36
\nEvaluated at bid price : 21.36
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
CU.PR.H<\/td>\nPerpetual-Discount<\/td>\n-3.87 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 22.63
\nEvaluated at bid price : 22.88
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n
GWO.PR.T<\/td>\nInsurance Straight<\/td>\n-3.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 23.01
\nEvaluated at bid price : 23.28
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
BN.PR.M<\/td>\nPerpetual-Discount<\/td>\n-2.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nInsurance Straight<\/td>\n-1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 23.20
\nEvaluated at bid price : 23.50
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n-1.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.86
\nEvaluated at bid price : 22.10
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nInsurance Straight<\/td>\n-1.69 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 23.03
\nEvaluated at bid price : 23.30
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
ENB.PF.C<\/td>\nFixedReset Disc<\/td>\n-1.47 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.38
\nEvaluated at bid price : 21.38
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
BN.PF.D<\/td>\nPerpetual-Discount<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.51
\nEvaluated at bid price : 21.51
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n
BN.PF.C<\/td>\nPerpetual-Discount<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.11
\nEvaluated at bid price : 21.11
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-11-22
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.06
\nBid-YTW : 4.20 %<\/td>\n<\/tr>\n
ENB.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 24.57
\nEvaluated at bid price : 24.82
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 23.51
\nEvaluated at bid price : 23.91
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nInsurance Straight<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 20.99
\nEvaluated at bid price : 20.99
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n6.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.65
\nEvaluated at bid price : 21.90
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n39.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 20.50
\nEvaluated at bid price : 20.50
\nBid-YTW : 5.52 %<\/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
MFC.PR.I<\/td>\nFixedReset Ins Non<\/td>\n30,000<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 23.73
\nEvaluated at bid price : 25.35
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n25,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 23.42
\nEvaluated at bid price : 24.80
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n
TD.PF.E<\/td>\nFixedReset Prem<\/td>\n20,275<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-11-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.98
\nBid-YTW : 5.16 %<\/td>\n<\/tr>\n
PVS.PR.K<\/td>\nSplitShare<\/td>\n19,100<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2029-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.16
\nBid-YTW : 4.45 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n14,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.07
\nEvaluated at bid price : 21.07
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
FFH.PR.I<\/td>\nFixedReset Disc<\/td>\n12,300<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2025-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.00
\nBid-YTW : 4.43 %<\/td>\n<\/tr>\n
There were 1 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
CU.PR.H<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.88 – 24.50
\nSpot Rate : 1.6200
\nAverage : 1.0980<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 22.63
\nEvaluated at bid price : 22.88
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n

ENB.PR.H<\/td>\nFixedReset Disc<\/td>\nQuote: 21.40 – 22.50
\nSpot Rate : 1.1000
\nAverage : 0.6478<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.40
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n

ENB.PR.Y<\/td>\nFixedReset Disc<\/td>\nQuote: 20.55 – 21.90
\nSpot Rate : 1.3500
\nAverage : 0.9463<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n

NA.PR.K<\/td>\nFixedReset Prem<\/td>\nQuote: 28.33 – 29.33
\nSpot Rate : 1.0000
\nAverage : 0.6250<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-05-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 28.33
\nBid-YTW : 4.13 %<\/td>\n<\/tr>\n

SLF.PR.D<\/td>\nInsurance Straight<\/td>\nQuote: 21.68 – 22.65
\nSpot Rate : 0.9700
\nAverage : 0.6326<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.42
\nEvaluated at bid price : 21.68
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n

CU.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.85 – 22.62
\nSpot Rate : 0.7700
\nAverage : 0.4769<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2055-10-23
\nMaturity Price : 21.52
\nEvaluated at bid price : 21.85
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The TXPR Price Index hit a new 52-week high today of 683.66, edging the prior mark of 683.50 set yesterday. It’s nice to see some meaningful retaliation: The federal government is firing back at Stellantis …<\/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-50431","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50431","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=50431"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50431\/revisions"}],"predecessor-version":[{"id":50432,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50431\/revisions\/50432"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}