{"id":50615,"date":"2019-08-19T21:56:00","date_gmt":"2019-08-20T01:56:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50615"},"modified":"2025-11-11T21:59:09","modified_gmt":"2025-11-12T02:59:09","slug":"august-19-2019","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50615","title":{"rendered":"August 19, 2019"},"content":{"rendered":"<p>Mohamed A. El-Erian <a href=\"https:\/\/www.facebook.com\/elerianm\/photos\/a.1536634639924666\/2307951929459596\/?type=3&amp;theater\">has again updated<\/a> my favourite financial market chart:<\/p>\n<div align=\"center\"><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2019\/08\/negativeYieldDebt_190819.png\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/prefblog.com\/wp-content\/uploads\/2019\/08\/negativeYieldDebt_190819-300x190.png\" alt=\"negativeyielddebt_190819\" width=\"400\" height=\"253\" class=\"alignnone size-medium wp-image-39271\"><\/a><br \/><i>Click for Big<\/i><\/div>\n<p>He also passed on <a href=\"https:\/\/www.facebook.com\/elerianm\/photos\/a.1536634639924666\/2308659239388865\/?type=3&amp;theater\">another great chart<\/a>:<\/p>\n<blockquote>\n<p>Along with the chart showing that the stock of negative-yielding bonds now stands at some $17 trillion, this one, via Zerohedge on Austria&#8217;s 100-year bond, screams how unusual &#8212; very very very unusual &#8212; conditions are in global fixed income.<\/p>\n<p>Issued two years ago with a yield of 2.1%, its price has doubled &#8230; implying that, if held to maturity, buyers today would recoup half of their investment.<\/p>\n<p>Look tonight for a Bloomberg Opinion post on a related issue.<\/p>\n<\/blockquote>\n<div align=\"center\"><a href=\"https:\/\/prefblog.com\/wp-content\/uploads\/2019\/08\/AustrianCenturyBond_190819.png\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/prefblog.com\/wp-content\/uploads\/2019\/08\/AustrianCenturyBond_190819-300x153.png\" alt=\"austriancenturybond_190819\" width=\"400\" height=\"204\" class=\"alignnone size-medium wp-image-39273\"><\/a><br \/><i>Click for Big<\/i><\/div>\n<p>Husky, which has been a feature on the price-movement highlights charts recently, saw <a href=\"https:\/\/www.theglobeandmail.com\/business\/industry-news\/energy-and-resources\/article-husky-energy-shares-rise-on-analyst-report-about-potential\/\">a modest counter-move today<\/a>:<\/p>\n<blockquote>\n<p>Shares in Husky Energy Inc. are up by about five per cent after an RBC Dominion Securities analyst suggested its low share price makes this a good time for the company to be taken private.<\/p>\n<p>The stock jumped by as much as 47 cents to $9.24 on Monday morning, still well off its 52-week high of $22.98 set last Sept. 27.<\/p>\n<p>In a report over the weekend, analyst Greg Pardy suggests that Husky\u2019s near-15-year-low share prices make privatization attractive for the entities controlled by Hong Kong billionaire Li Ka-Shing which own 69.5 per cent of the equity.<\/p>\n<\/blockquote>\n<p>There was more good news, of sorts, today: neither CPD nor ZPR made a new low!<\/p>\n<p>TXPR <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=txpr\">closed at 580.66<\/a>, down 0.07% on the day after setting a new 52-week low of 580.61. Volume was 1.54-million, the lowest since <a href=\"https:\/\/prefblog.com\/?p=39166\">August 2<\/a> and nothing special in the context of the past 30 days.<\/p>\n<p>CPD <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=cpd\">closed at 11.61<\/a>, up 0.09% on the day. Volume of 84,120 was at about the median of the past 30 days.<\/p>\n<p>ZPR <a href=\"https:\/\/web.tmxmoney.com\/quote.php?qm_symbol=zpr\">closed at 9.25<\/a>, up 0.22% on the day. Volume of 66,962 was very low in the context of the past thirty days.<\/p>\n<p>Five-year Canada yields were <a href=\"https:\/\/www.investing.com\/rates-bonds\/canada-5-year-bond-yield-historical-data\">up 2bp to 1.22%<\/a> today. <\/p>\n<p>So what&#8217;s going on with Structured Notes? <a href=\"https:\/\/www.bmonotes.com\/Type\/NPPNs\">BMO&#8217;s page<\/a> shows <a href=\"https:\/\/www.bmonotes.com\/Note\/JHN12544\">JHN12544<\/a>, to be issued August 21 with a seven year term; and <a href=\"https:\/\/www.bmonotes.com\/Note\/JHN12545\">JHN12545, to be issued August 21 with a seven year term. <a href=\"https:\/\/www.tdstructurednotes.com\/snp\/equityLinkedNotes.action\">TD&#8217;s page<\/a> shows <a href=\"https:\/\/www.tdstructurednotes.com\/snp\/noteDetails.action?noteId=2471\">Series 416<\/a> to be issued August 26 with a seven year term. <a href=\"https:\/\/nbcstructuredsolutions.ca\/listeProduits.aspx?mode=all&amp;search=Canadian%20preferred%20share\">National&#8217;s page<\/a> shows nothing cooking after one was issued August 2 and four issued in July.<\/p>\n<table border=\"1\">\n<tr>\n<td colspan=\"8\"><strong>HIMIPref&trade; Preferred Indices<br \/>These values reflect the December 2008 revision of the HIMIPref&trade; Indices<\/strong><br \/>Values are provisional and are finalized monthly<\/td>\n<\/tr>\n<tr>\n<td>Index<\/td>\n<td>Mean<br \/>Current<br \/>Yield<br \/>(at bid)<\/td>\n<td>Median<br \/>YTW<\/td>\n<td>Median<br \/>Average<br \/>Trading<br \/>Value<\/td>\n<td>Median<br \/>Mod Dur<br \/>(YTW)<\/td>\n<td>Issues<\/td>\n<td>Day&#8217;s Perf.<\/td>\n<td>Index Value<\/td>\n<\/tr>\n<tr>\n<td>Ratchet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.2375 %<\/td>\n<td>1,814.6<\/td>\n<\/tr>\n<tr>\n<td>FixedFloater<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>-0.2375 %<\/td>\n<td>3,329.8<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>6.58 %<\/td>\n<td>6.79 %<\/td>\n<td>42,081<\/td>\n<td>12.73<\/td>\n<td>4<\/td>\n<td>-0.2375 %<\/td>\n<td>1,919.0<\/td>\n<\/tr>\n<tr>\n<td>OpRet<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.5703 %<\/td>\n<td>3,356.8<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.64 %<\/td>\n<td>4.67 %<\/td>\n<td>62,901<\/td>\n<td>4.06<\/td>\n<td>7<\/td>\n<td>0.5703 %<\/td>\n<td>4,008.8<\/td>\n<\/tr>\n<tr>\n<td>Interest-Bearing<\/td>\n<td>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.5703 %<\/td>\n<td>3,127.8<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.64 %<\/td>\n<td>-6.04 %<\/td>\n<td>61,829<\/td>\n<td>0.09<\/td>\n<td>9<\/td>\n<td>0.1808 %<\/td>\n<td>2,974.1<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.47 %<\/td>\n<td>5.59 %<\/td>\n<td>53,920<\/td>\n<td>14.50<\/td>\n<td>25<\/td>\n<td>0.1719 %<\/td>\n<td>3,113.8<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>5.91 %<\/td>\n<td>5.55 %<\/td>\n<td>150,335<\/td>\n<td>14.61<\/td>\n<td>66<\/td>\n<td>-0.1448 %<\/td>\n<td>1,971.0<\/td>\n<\/tr>\n<tr>\n<td>Deemed-Retractible<\/td>\n<td>5.29 %<\/td>\n<td>6.07 %<\/td>\n<td>70,775<\/td>\n<td>7.86<\/td>\n<td>27<\/td>\n<td>0.0450 %<\/td>\n<td>3,084.9<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>4.69 %<\/td>\n<td>7.47 %<\/td>\n<td>59,638<\/td>\n<td>7.93<\/td>\n<td>3<\/td>\n<td>-0.1014 %<\/td>\n<td>2,263.5<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Prem<\/td>\n<td>5.21 %<\/td>\n<td>4.85 %<\/td>\n<td>167,738<\/td>\n<td>1.97<\/td>\n<td>21<\/td>\n<td>0.0057 %<\/td>\n<td>2,559.0<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Bank Non<\/td>\n<td>1.99 %<\/td>\n<td>4.39 %<\/td>\n<td>93,987<\/td>\n<td>2.37<\/td>\n<td>3<\/td>\n<td>-0.0840 %<\/td>\n<td>2,641.0<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>5.59 %<\/td>\n<td>8.10 %<\/td>\n<td>102,248<\/td>\n<td>8.01<\/td>\n<td>21<\/td>\n<td>0.0367 %<\/td>\n<td>2,054.6<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"4\"><strong>Performance Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Change<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>-3.31 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 15.47<br \/>\nEvaluated at bid price : 15.47<br \/>\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.30 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 13.60<br \/>\nEvaluated at bid price : 13.60<br \/>\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.18 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 18.83<br \/>\nEvaluated at bid price : 18.83<br \/>\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.99 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 17.20<br \/>\nEvaluated at bid price : 17.20<br \/>\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n<tr>\n<td>EMA.PR.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.84 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 15.51<br \/>\nEvaluated at bid price : 15.51<br \/>\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.74 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 13.58<br \/>\nEvaluated at bid price : 13.58<br \/>\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n<tr>\n<td>IAF.PR.G<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.70 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2030-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 18.53<br \/>\nBid-YTW : 7.73 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.I<\/td>\n<td>FixedReset Prem<\/td>\n<td>-1.67 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 24.35<br \/>\nEvaluated at bid price : 24.70<br \/>\nBid-YTW : 4.93 %<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Deemed-Retractible<\/td>\n<td>-1.60 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2030-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 23.36<br \/>\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.49 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 17.88<br \/>\nEvaluated at bid price : 17.88<br \/>\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.I<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>-1.49 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2030-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 18.15<br \/>\nBid-YTW : 8.10 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.44 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 18.51<br \/>\nEvaluated at bid price : 18.51<br \/>\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.32 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 18.01<br \/>\nEvaluated at bid price : 18.01<br \/>\nBid-YTW : 5.46 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.23 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 16.05<br \/>\nEvaluated at bid price : 16.05<br \/>\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 16.11<br \/>\nEvaluated at bid price : 16.11<br \/>\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n<tr>\n<td>TRP.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 9.90<br \/>\nEvaluated at bid price : 9.90<br \/>\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.W<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.07 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 15.16<br \/>\nEvaluated at bid price : 15.16<br \/>\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.13 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 17.95<br \/>\nEvaluated at bid price : 17.95<br \/>\nBid-YTW : 6.17 %<\/td>\n<\/tr>\n<tr>\n<td>EIT.PR.A<\/td>\n<td>SplitShare<\/td>\n<td>1.18 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Soft Maturity<br \/>\nMaturity Date\t: 2024-03-14<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.71<br \/>\nBid-YTW : 4.34 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.G<\/td>\n<td>SplitShare<\/td>\n<td>1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Option Certainty<br \/>\nMaturity Date\t: 2026-02-28<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.40<br \/>\nBid-YTW : 4.82 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.24 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 17.16<br \/>\nEvaluated at bid price : 17.16<br \/>\nBid-YTW : 7.06 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.J<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.28 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2030-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 18.39<br \/>\nBid-YTW : 7.96 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.A<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.45 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2030-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 13.96<br \/>\nBid-YTW : 10.22 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.51 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 16.82<br \/>\nEvaluated at bid price : 16.82<br \/>\nBid-YTW : 7.22 %<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.52 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 16.75<br \/>\nEvaluated at bid price : 16.75<br \/>\nBid-YTW : 7.19 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.J<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.56 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 19.59<br \/>\nEvaluated at bid price : 19.59<br \/>\nBid-YTW : 5.25 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.65 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 24.29<br \/>\nEvaluated at bid price : 24.60<br \/>\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.Q<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.93 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2030-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 18.36<br \/>\nBid-YTW : 7.95 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.F<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.03 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2030-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 12.76<br \/>\nBid-YTW : 10.27 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>3.62 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 12.60<br \/>\nEvaluated at bid price : 12.60<br \/>\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"4\"><strong>Volume Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Shares<br \/>Traded<\/td>\n<td>Notes<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>62,170<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 12.60<br \/>\nEvaluated at bid price : 12.60<br \/>\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>59,890<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 16.15<br \/>\nEvaluated at bid price : 16.15<br \/>\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>42,300<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 16.09<br \/>\nEvaluated at bid price : 16.09<br \/>\nBid-YTW : 5.44 %<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.I<\/td>\n<td>FixedReset Disc<\/td>\n<td>32,400<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 19.16<br \/>\nEvaluated at bid price : 19.16<br \/>\nBid-YTW : 5.20 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.K<\/td>\n<td>FixedReset Disc<\/td>\n<td>31,002<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 19.01<br \/>\nEvaluated at bid price : 19.01<br \/>\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n<tr>\n<td>CM.PR.S<\/td>\n<td>FixedReset Disc<\/td>\n<td>29,015<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 17.20<br \/>\nEvaluated at bid price : 17.20<br \/>\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\">There were 19 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<tr>\n<td colspan=\"3\"><strong>Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Issue<\/td>\n<td>Index<\/td>\n<td>Quote Data and Yield Notes<\/td>\n<\/tr>\n<tr>\n<td>HSE.PR.A<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 10.50 &#8211; 11.30<br \/>\nSpot Rate  :  0.8000<br \/>\nAverage  :  0.5825<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 10.50<br \/>\nEvaluated at bid price : 10.50<br \/>\nBid-YTW : 6.97 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PF.F<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 15.47 &#8211; 16.00<br \/>\nSpot Rate  :  0.5300<br \/>\nAverage  :  0.3319<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 15.47<br \/>\nEvaluated at bid price : 15.47<br \/>\nBid-YTW : 6.70 %<\/td>\n<\/tr>\n<tr>\n<td>BAM.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 13.60 &#8211; 14.15<br \/>\nSpot Rate  :  0.5500<br \/>\nAverage  :  0.3535<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 13.60<br \/>\nEvaluated at bid price : 13.60<br \/>\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n<tr>\n<td>TD.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 18.51 &#8211; 19.03<br \/>\nSpot Rate  :  0.5200<br \/>\nAverage  :  0.3290<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 18.51<br \/>\nEvaluated at bid price : 18.51<br \/>\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.C<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 16.12 &#8211; 16.75<br \/>\nSpot Rate  :  0.6300<br \/>\nAverage  :  0.4557<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 16.12<br \/>\nEvaluated at bid price : 16.12<br \/>\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.B<\/td>\n<td>FixedReset Prem<\/td>\n<td>Quote: 24.50 &#8211; 24.99<br \/>\nSpot Rate  :  0.4900<br \/>\nAverage  :  0.3286<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2049-08-19<br \/>\nMaturity Price  : 23.27<br \/>\nEvaluated at bid price : 24.50<br \/>\nBid-YTW : 5.27 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Mohamed A. El-Erian has again updated my favourite financial market chart: Click for Big He also passed on another great chart: Along with the chart showing that the stock of negative-yielding bonds now stands at &hellip;<\/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-50615","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50615","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=50615"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50615\/revisions"}],"predecessor-version":[{"id":50616,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50615\/revisions\/50616"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}