{"id":50633,"date":"2019-08-06T22:50:00","date_gmt":"2019-08-07T02:50:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50633"},"modified":"2025-11-11T22:53:01","modified_gmt":"2025-11-12T03:53:01","slug":"august-6-2019","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50633","title":{"rendered":"August 6, 2019"},"content":{"rendered":"
\"explosion_190806\"<\/a>
Click for Big<\/i><\/div>\n

Trump’s trade war heated up over the long weekend<\/a>:<\/p>\n

\n

The trade war between the United States and China entered a more dangerous phase on Monday, as Beijing allowed its currency to weaken, Chinese enterprises stopped making new purchases of American farm goods and President Trump indicated he would look for ways to retaliate.<\/p>\n

The escalation shook world markets on Monday, as nervous investors looked for safe places to park their money. Wall Street suffered its worst day of the year, with the S&P 500 closing down nearly 3 percent. Selling was especially heavy in the trade-sensitive technology, consumer discretionary and industrial sectors. Yields on United States Treasuries, which fall as prices rise, dropped as investors sought safety in government-backed bonds. Benchmark indexes in Asia and Europe also fell.<\/p>\n<\/blockquote>\n

Mohamed A. El-Erian posted on Facebook<\/a>:<\/p>\n

\n

With today’s move, the entire yield curve for government bonds in Germany closed at negative levels.<\/p>\n

This will take the stock of negative-yielding bonds worldwide to some $15 trillion.<\/p>\n

Given what has occurred since European markets closed, look for both to get worse tomorrow.<\/p>\n<\/blockquote>\n

\"bundyieldcurve_190802\"<\/a>
Click for Big<\/i><\/div>\n

One of those events was a declaration by the US Treasury<\/a>:<\/p>\n

\n

Late Monday, the Treasury took the unusual step of labeling China a currency manipulator \u2014 the first time it has done so since 1994. In a statement, the Treasury said that Steven Mnuchin, the Treasury secretary, \u201cwill engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China\u2019s latest actions.\u201d<\/p>\n

The action is mostly symbolic, requiring the administration to consult with the International Monetary Fund to try to eliminate the unfair advantage the currency measures have given a country. But China is likely to view the label as a rebuke, further escalating pressures between the countries.<\/p>\n

The move will finally fulfill Mr. Trump\u2019s campaign pledge to designate China a currency manipulator. As a presidential candidate, Mr. Trump was sharply critical of China\u2019s currency practices and promised to label China a manipulator if elected.<\/p>\n

Until Monday, Mr. Trump\u2019s Treasury had declined to apply the label to China in the five currency reports it issued since the president took office. Instead, it has said the United States has deep concerns about China\u2019s intervention in its currency.<\/p>\n<\/blockquote>\n

For all that, the effect on Canadian major markets was muted<\/a>:<\/p>\n

\n

Canada\u2019s main stock index fell on Tuesday, hurt by a slide in energy and financial sectors amid heightened trade tensions between the United States and China.<\/p>\n

The Toronto Stock Exchange\u2019s S&P\/TSX Composite index was down 122.17 points, or 0.75 per cent, at 16,149.49.<\/p>\n<\/blockquote>\n

TXPR closed at 605.92<\/a>, down 0.62% on the day. Volume was 1.72-million, slightly above the median of the past thirty days. <\/p>\n

CPD closed at 12.11<\/a>, down 0.86% on the day. Volume of 66,608 was slightly above the median of the past thirty days.<\/p>\n

ZPR closed at 9.71<\/a>, down 1.32% on the day. Volume of 101,277 was near the median of the past 30 days.<\/p>\n

Five-year Canada yields were down 8bp to 1.37%<\/a> today. <\/p>\n

The BoC has released a staff analytical note titled Relative Value of Government of Canada Bonds<\/a>:<\/p>\n

\n

We identify factors that are important for explaining why similar Government of Canada (GoC) bonds can have different values. For bonds that are expensive, we find they have higher trading volume and higher rental income. These factors can make these bonds more expensive than similar bonds, by up to 5 bps. For the cheap bonds, we find that they tend to have longer tenors and times to maturity. These bonds are typically harder and costlier to trade. Market participants may therefore value them less. The importance of rental income for GoC bond values suggests that a cap on rental income could hinder the ability of these bonds to reach their market value. This could lead to misallocation of these bonds among the buyers and sellers who value them most.<\/p>\n<\/blockquote>\n

Yup. That’s why you have to be very careful when backtesting long-short hedge strategies! The borrow rates on expensive bonds can kill you!<\/p>\n

RBC Wealth Management released some survey results<\/a> (emphasis from original):<\/p>\n

\n

High-income Canadians are optimistic they will meet their goals, yet find wealth management topics complicated<\/b>
\nOf the 48% of respondents who are not as wealthy as they thought they would be, almost three quarters (73%) believe they will reach their financial goals before retirement. This optimism seems to be at odds with their confidence when it comes to aspects of wealth management topics, with the majority agreeing the following topics are challenging:<\/p>\n

Knowing which information to trust (78%)
\nStaying on top of what’s happening in the financial markets (76%)
\nUsing tax strategies to minimize taxes (71%)
\nEnsuring they don’t outlive their assets during retirement (70%)
\nUnderstanding the use of insurance in a financial plan (66%)<\/p>\n<\/blockquote>\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-2.5983 %<\/td>\n1,926.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-2.5983 %<\/td>\n3,535.8<\/td>\n<\/tr>\n
Floater<\/td>\n6.20 %<\/td>\n6.33 %<\/td>\n38,989<\/td>\n13.39<\/td>\n4<\/td>\n-2.5983 %<\/td>\n2,037.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0902 %<\/td>\n3,339.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.66 %<\/td>\n4.71 %<\/td>\n72,804<\/td>\n4.09<\/td>\n7<\/td>\n-0.0902 %<\/td>\n3,987.8<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.0902 %<\/td>\n3,111.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.61 %<\/td>\n-18.00 %<\/td>\n55,549<\/td>\n0.09<\/td>\n7<\/td>\n-0.0784 %<\/td>\n2,989.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.44 %<\/td>\n5.60 %<\/td>\n58,516<\/td>\n14.47<\/td>\n25<\/td>\n-0.1383 %<\/td>\n3,131.4<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.48 %<\/td>\n5.34 %<\/td>\n161,187<\/td>\n14.85<\/td>\n69<\/td>\n-0.9677 %<\/td>\n2,100.8<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.23 %<\/td>\n5.93 %<\/td>\n63,065<\/td>\n7.92<\/td>\n27<\/td>\n-0.2569 %<\/td>\n3,116.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n4.07 %<\/td>\n4.46 %<\/td>\n34,840<\/td>\n2.39<\/td>\n4<\/td>\n-0.4099 %<\/td>\n2,338.4<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.15 %<\/td>\n3.90 %<\/td>\n157,441<\/td>\n1.86<\/td>\n17<\/td>\n-0.0986 %<\/td>\n2,595.1<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.98 %<\/td>\n3.98 %<\/td>\n84,426<\/td>\n2.41<\/td>\n3<\/td>\n0.0000 %<\/td>\n2,656.6<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.32 %<\/td>\n7.58 %<\/td>\n84,714<\/td>\n8.01<\/td>\n22<\/td>\n-1.1778 %<\/td>\n2,142.0<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
TRP.PR.G<\/td>\nFixedReset Disc<\/td>\n-4.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.25
\nEvaluated at bid price : 17.25
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n-4.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.00
\nEvaluated at bid price : 17.00
\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-4.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 10.93
\nEvaluated at bid price : 10.93
\nBid-YTW : 6.41 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n-3.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 10.99
\nEvaluated at bid price : 10.99
\nBid-YTW : 6.38 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-3.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.45
\nBid-YTW : 7.57 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n-2.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n-2.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 7.92 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n-2.60 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 19.07
\nEvaluated at bid price : 19.07
\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-2.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 13.22
\nEvaluated at bid price : 13.22
\nBid-YTW : 6.31 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n-2.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 11.08
\nEvaluated at bid price : 11.08
\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-2.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 11.50
\nEvaluated at bid price : 11.50
\nBid-YTW : 6.26 %<\/td>\n<\/tr>\n
MFC.PR.J<\/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 : 18.91
\nBid-YTW : 7.88 %<\/td>\n<\/tr>\n
BMO.PR.W<\/td>\nFixedReset Disc<\/td>\n-2.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.19
\nEvaluated at bid price : 17.19
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset Disc<\/td>\n-2.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 18.65
\nEvaluated at bid price : 18.65
\nBid-YTW : 6.64 %<\/td>\n<\/tr>\n
BAM.PF.E<\/td>\nFixedReset Disc<\/td>\n-2.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 16.02
\nEvaluated at bid price : 16.02
\nBid-YTW : 6.25 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n-2.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 18.66
\nEvaluated at bid price : 18.66
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n-1.99 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.80
\nBid-YTW : 9.56 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.98 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 5.12 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Disc<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 21.70
\nEvaluated at bid price : 21.96
\nBid-YTW : 5.03 %<\/td>\n<\/tr>\n
NA.PR.W<\/td>\nFixedReset Disc<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 16.48
\nEvaluated at bid price : 16.48
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 18.48
\nEvaluated at bid price : 18.48
\nBid-YTW : 5.41 %<\/td>\n<\/tr>\n
IAF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.95 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.15
\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n-1.89 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 19.22
\nEvaluated at bid price : 19.22
\nBid-YTW : 5.34 %<\/td>\n<\/tr>\n
EMA.PR.F<\/td>\nFixedReset Disc<\/td>\n-1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.13
\nEvaluated at bid price : 17.13
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n
IAF.PR.I<\/td>\nFixedReset Ins Non<\/td>\n-1.82 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.52
\nBid-YTW : 6.96 %<\/td>\n<\/tr>\n
MFC.PR.K<\/td>\nFixedReset Ins Non<\/td>\n-1.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.88
\nBid-YTW : 8.21 %<\/td>\n<\/tr>\n
CM.PR.O<\/td>\nFixedReset Disc<\/td>\n-1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.31
\nEvaluated at bid price : 17.31
\nBid-YTW : 5.37 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-1.68 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 11.11
\nEvaluated at bid price : 11.11
\nBid-YTW : 5.99 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 19.82
\nEvaluated at bid price : 19.82
\nBid-YTW : 5.25 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n-1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 15.75
\nEvaluated at bid price : 15.75
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 13.38
\nEvaluated at bid price : 13.38
\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n
MFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.92
\nBid-YTW : 7.70 %<\/td>\n<\/tr>\n
HSE.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.64
\nEvaluated at bid price : 17.64
\nBid-YTW : 6.48 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 15.32
\nEvaluated at bid price : 15.32
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
BAM.PF.F<\/td>\nFixedReset Disc<\/td>\n-1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 6.10 %<\/td>\n<\/tr>\n
BMO.PR.T<\/td>\nFixedReset Disc<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.32
\nEvaluated at bid price : 17.32
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 16.81
\nEvaluated at bid price : 16.81
\nBid-YTW : 5.42 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.40 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
BMO.PR.S<\/td>\nFixedReset Disc<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.75
\nEvaluated at bid price : 17.75
\nBid-YTW : 5.28 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.06
\nBid-YTW : 8.39 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nDeemed-Retractible<\/td>\n-1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.61
\nBid-YTW : 6.58 %<\/td>\n<\/tr>\n
BMO.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 19.63
\nEvaluated at bid price : 19.63
\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n
BAM.PF.A<\/td>\nFixedReset Disc<\/td>\n-1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 18.91
\nEvaluated at bid price : 18.91
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nDeemed-Retractible<\/td>\n-1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.80
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 21.40
\nEvaluated at bid price : 21.73
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\n-1.21 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.09
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n
GWO.PR.I<\/td>\nDeemed-Retractible<\/td>\n-1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.89
\nBid-YTW : 6.82 %<\/td>\n<\/tr>\n
BNS.PR.E<\/td>\nFixedReset Prem<\/td>\n-1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.70
\nBid-YTW : 3.90 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.30
\nBid-YTW : 7.58 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n-1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.55
\nEvaluated at bid price : 17.55
\nBid-YTW : 5.18 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n-1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 21.41
\nEvaluated at bid price : 21.41
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
BAM.PF.B<\/td>\nFixedReset Disc<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.02
\nEvaluated at bid price : 17.02
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nDeemed-Retractible<\/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 : 23.80
\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n
BMO.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 22.47
\nEvaluated at bid price : 23.01
\nBid-YTW : 5.05 %<\/td>\n<\/tr>\n
TD.PF.C<\/td>\nFixedReset Disc<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.60
\nEvaluated at bid price : 17.60
\nBid-YTW : 5.18 %<\/td>\n<\/tr>\n
HSE.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 18.61
\nEvaluated at bid price : 18.61
\nBid-YTW : 6.71 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 12.75
\nEvaluated at bid price : 12.75
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
BAM.PF.G<\/td>\nFixedReset Disc<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.40
\nEvaluated at bid price : 17.40
\nBid-YTW : 6.16 %<\/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
CU.PR.D<\/td>\nPerpetual-Discount<\/td>\n203,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 22.51
\nEvaluated at bid price : 22.80
\nBid-YTW : 5.46 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n33,708<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 21.77
\nEvaluated at bid price : 22.02
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n
TD.PF.M<\/td>\nFixedReset Disc<\/td>\n31,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 23.15
\nEvaluated at bid price : 24.96
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n
BAM.PF.J<\/td>\nFixedReset Disc<\/td>\n29,232<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 22.80
\nEvaluated at bid price : 23.75
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n24,700<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 13.38
\nEvaluated at bid price : 13.38
\nBid-YTW : 6.77 %<\/td>\n<\/tr>\n
BAM.PF.I<\/td>\nFixedReset Disc<\/td>\n24,550<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 4.62 %<\/td>\n<\/tr>\n
There were 25 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.C<\/td>\nFixedReset Disc<\/td>\nQuote: 17.64 – 18.59
\nSpot Rate : 0.9500
\nAverage : 0.6257<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 17.64
\nEvaluated at bid price : 17.64
\nBid-YTW : 6.48 %<\/td>\n<\/tr>\n

BNS.PR.F<\/td>\nFloatingReset<\/td>\nQuote: 24.16 – 24.67
\nSpot Rate : 0.5100
\nAverage : 0.3126<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.16
\nBid-YTW : 4.46 %<\/td>\n<\/tr>\n

CM.PR.Q<\/td>\nFixedReset Disc<\/td>\nQuote: 18.40 – 18.94
\nSpot Rate : 0.5400
\nAverage : 0.3586<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 18.40
\nEvaluated at bid price : 18.40
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n

BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.51 – 20.95
\nSpot Rate : 0.4400
\nAverage : 0.2850<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-08-06
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 5.87 %<\/td>\n<\/tr>\n

IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\nQuote: 19.45 – 19.95
\nSpot Rate : 0.5000
\nAverage : 0.3470<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.45
\nBid-YTW : 7.57 %<\/td>\n<\/tr>\n

GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.09 – 22.70
\nSpot Rate : 0.6100
\nAverage : 0.4582<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.09
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Click for Big Trump’s trade war heated up over the long weekend: The trade war between the United States and China entered a more dangerous phase on Monday, as Beijing allowed its currency to weaken, …<\/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-50633","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50633","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=50633"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50633\/revisions"}],"predecessor-version":[{"id":50634,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50633\/revisions\/50634"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}