{"id":50766,"date":"2019-09-16T21:53:00","date_gmt":"2019-09-17T01:53:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50766"},"modified":"2025-11-17T21:54:24","modified_gmt":"2025-11-18T02:54:24","slug":"september-16-2019","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50766","title":{"rendered":"September 16, 2019"},"content":{"rendered":"

Over the weekend, global markets received another lesson in why market timing doesn’t work<\/a>:<\/p>\n

\n

Oil ended nearly 15 per cent higher on Monday, with Brent logging its biggest jump in over 30 years and a record trading volumes, after an attack on Saudi Arabian crude facilities cut the kingdom\u2019s production in half and intensified concerns of retaliation in the Middle East.<\/p>\n

Brent crude futures settled at $69.02 a barrel, rising $8.80, or 14.6 per cent, its largest one-day percentage gain since at least 1988.<\/p>\n

U.S. West Texas Intermediate (WTI) futures ended at $62.90 a barrel, soaring $8.05, or 14.7 per cent \u2013 the biggest one-day percentage gain since December 2008.<\/p>\n

Trades also ramped up, with Brent futures surpassing 2 million lots, an all-time daily volume record, Intercontinental Exchange spokeswoman Rebecca Mitchell said.
…<\/b>
Saudi Arabia is the world\u2019s biggest oil exporter and, with its comparatively large spare capacity, has been the supplier of last resort for decades.<\/p>\n

The attack on state-owned producer Saudi Aramco\u2019s crude-processing facilities at Abqaiq and Khurais cut output by 5.7 million barrels per day and threw into question its ability to maintain oil exports.<\/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-1.4148 %<\/td>\n1,913.0<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.4148 %<\/td>\n3,510.2<\/td>\n<\/tr>\n
Floater<\/td>\n6.30 %<\/td>\n6.41 %<\/td>\n54,389<\/td>\n13.35<\/td>\n4<\/td>\n-1.4148 %<\/td>\n2,022.9<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1412 %<\/td>\n3,381.2<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.66 %<\/td>\n4.58 %<\/td>\n61,188<\/td>\n4.03<\/td>\n7<\/td>\n0.1412 %<\/td>\n4,037.9<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.1412 %<\/td>\n3,150.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.61 %<\/td>\n-17.47 %<\/td>\n64,547<\/td>\n0.09<\/td>\n6<\/td>\n0.0781 %<\/td>\n2,985.0<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.45 %<\/td>\n5.59 %<\/td>\n62,831<\/td>\n14.45<\/td>\n28<\/td>\n-0.0667 %<\/td>\n3,145.1<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.51 %<\/td>\n5.53 %<\/td>\n173,841<\/td>\n14.32<\/td>\n73<\/td>\n0.0265 %<\/td>\n2,083.1<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.26 %<\/td>\n5.94 %<\/td>\n74,388<\/td>\n7.90<\/td>\n27<\/td>\n-0.0985 %<\/td>\n3,131.1<\/td>\n<\/tr>\n
FloatingReset<\/td>\n4.48 %<\/td>\n6.72 %<\/td>\n57,278<\/td>\n8.06<\/td>\n3<\/td>\n-0.1559 %<\/td>\n2,369.7<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.24 %<\/td>\n3.99 %<\/td>\n131,493<\/td>\n1.60<\/td>\n14<\/td>\n0.1674 %<\/td>\n2,585.5<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.97 %<\/td>\n4.31 %<\/td>\n87,180<\/td>\n2.29<\/td>\n3<\/td>\n0.4595 %<\/td>\n2,668.0<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.42 %<\/td>\n7.81 %<\/td>\n109,194<\/td>\n7.90<\/td>\n21<\/td>\n0.0800 %<\/td>\n2,132.0<\/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
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-4.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 10.33
\nEvaluated at bid price : 10.33
\nBid-YTW : 6.71 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\n-2.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.11
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
CM.PR.S<\/td>\nFixedReset Disc<\/td>\n-2.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 18.82
\nEvaluated at bid price : 18.82
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
CM.PR.Q<\/td>\nFixedReset Disc<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 18.28
\nEvaluated at bid price : 18.28
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
NA.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 19.00
\nEvaluated at bid price : 19.00
\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n-1.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 20.43
\nEvaluated at bid price : 20.43
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n
EMA.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 18.12
\nEvaluated at bid price : 18.12
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 13.19
\nEvaluated at bid price : 13.19
\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n
BAM.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 12.79
\nEvaluated at bid price : 12.79
\nBid-YTW : 6.29 %<\/td>\n<\/tr>\n
MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\n-1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.57
\nBid-YTW : 7.00 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n-1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 13.21
\nEvaluated at bid price : 13.21
\nBid-YTW : 6.72 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 17.78
\nEvaluated at bid price : 17.78
\nBid-YTW : 7.12 %<\/td>\n<\/tr>\n
BAM.PF.J<\/td>\nFixedReset Disc<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 22.83
\nEvaluated at bid price : 23.77
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n
MFC.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 : 19.02
\nBid-YTW : 7.80 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 13.06
\nBid-YTW : 10.42 %<\/td>\n<\/tr>\n
BIP.PR.D<\/td>\nFixedReset Disc<\/td>\n1.12 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 22.23
\nEvaluated at bid price : 22.60
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
EML.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-04-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.53
\nBid-YTW : 4.05 %<\/td>\n<\/tr>\n
HSE.PR.C<\/td>\nFixedReset Disc<\/td>\n1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 16.80
\nEvaluated at bid price : 16.80
\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset Disc<\/td>\n1.87 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 18.00
\nEvaluated at bid price : 18.00
\nBid-YTW : 6.99 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n2.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 18.63
\nEvaluated at bid price : 18.63
\nBid-YTW : 6.08 %<\/td>\n<\/tr>\n
HSE.PR.A<\/td>\nFixedReset Disc<\/td>\n3.90 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 11.72
\nEvaluated at bid price : 11.72
\nBid-YTW : 6.73 %<\/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
BAM.PF.I<\/td>\nFixedReset Disc<\/td>\n94,090<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-03-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 4.50 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Disc<\/td>\n57,800<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 21.32
\nEvaluated at bid price : 21.32
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n57,455<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 21.37
\nEvaluated at bid price : 21.37
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n53,668<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 17.15
\nEvaluated at bid price : 17.15
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Disc<\/td>\n30,500<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 5.00 %<\/td>\n<\/tr>\n
RY.PR.M<\/td>\nFixedReset Disc<\/td>\n27,012<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 18.75
\nEvaluated at bid price : 18.75
\nBid-YTW : 5.51 %<\/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
HSE.PR.C<\/td>\nFixedReset Disc<\/td>\nQuote: 16.80 – 17.92
\nSpot Rate : 1.1200
\nAverage : 0.6896<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 16.80
\nEvaluated at bid price : 16.80
\nBid-YTW : 6.92 %<\/td>\n<\/tr>\n

GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.11 – 22.85
\nSpot Rate : 0.7400
\nAverage : 0.4671<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.11
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n

MFC.PR.H<\/td>\nFixedReset Ins Non<\/td>\nQuote: 20.57 – 21.18
\nSpot Rate : 0.6100
\nAverage : 0.3903<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.57
\nBid-YTW : 7.00 %<\/td>\n<\/tr>\n

BAM.PR.K<\/td>\nFloater<\/td>\nQuote: 10.33 – 10.91
\nSpot Rate : 0.5800
\nAverage : 0.4059<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-09-16
\nMaturity Price : 10.33
\nEvaluated at bid price : 10.33
\nBid-YTW : 6.71 %<\/td>\n<\/tr>\n

BIP.PR.B<\/td>\nFixedReset Prem<\/td>\nQuote: 25.10 – 25.50
\nSpot Rate : 0.4000
\nAverage : 0.2510<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 5.04 %<\/td>\n<\/tr>\n

IFC.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 23.60 – 24.20
\nSpot Rate : 0.6000
\nAverage : 0.4573<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.60
\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Over the weekend, global markets received another lesson in why market timing doesn’t work: Oil ended nearly 15 per cent higher on Monday, with Brent logging its biggest jump in over 30 years and a …<\/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-50766","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50766","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=50766"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50766\/revisions"}],"predecessor-version":[{"id":50767,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50766\/revisions\/50767"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}