{"id":51954,"date":"2026-05-28T20:11:12","date_gmt":"2026-05-29T00:11:12","guid":{"rendered":"https:\/\/prefblog.com\/?p=51954"},"modified":"2026-05-28T20:16:03","modified_gmt":"2026-05-29T00:16:03","slug":"may-28-2026","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=51954","title":{"rendered":"May 28, 2026"},"content":{"rendered":"

The TXPR Price Index set a new 52-week high today of 710.92, beyond the previous mark of 710.65 set yesterday.<\/p>\n

Inflation in the US<\/a> picked up:<\/p>\n

High gas prices pushed up inflation again last month while adding to Americans\u2019 financial strain: Households are saving at the lowest rate in nearly four years, a new report showed Thursday.<\/p>\n

The Iran war\u2019s oil price shock lifted the Federal Reserve\u2019s preferred inflation gauge to 3.8% in April from 3.5% the month before, according to Commerce Department data.<\/p>\n

The Personal Consumption Expenditures price index rose 0.4% on a monthly basis, slowing from a 0.7% increase in March.<\/p>\n

Consumer spending, which powers about two-thirds of the economy, rose 0.5% in April \u2013 a seemingly resilient but slower pace than the 1% jump in March.
…<\/b>
Consumers\u2019 incomes were flat for the month; disposable (after-tax) income fell by 0.1%; and inflation-adjusted disposable income dropped by 0.5%.<\/p>\n

Americans continued to tap their piggy banks: Their personal saving rate (saving as a percentage of after-tax income) dropped to 2.6% in April, marking the lowest rate since June 2022, when inflation hit a four-decade high. At the start of the year, the savings rate was 4.3%.
…<\/b>
The core PCE price index rose at a slower-than-expected rate of 0.2% for the month, but the annual rate moved higher to 3.3%.<\/p><\/blockquote>\n

The Boston Fed published a working paper by Justin Katz and Paul S. Willen titled The Effect of Land Supply for New Homes on Residential Investment and House Prices<\/a>:<\/p>\n

In recent years, the United States has experienced house price growth outpacing income growth, low supply of new housing units, and flat to negative growth in construction productivity. A large body of research argues that land-use regulations play a central role in explaining these patterns by constraining housing supply. This paper explores a hypothesis that complements the regulatory explanation: In many high-cost markets, large plots of buildable land are scarce, constraining the amount and efficiency of residential construction. Despite its importance for evaluating housing policy, little comprehensive research has studied this alternative explanation. This is partly because there is limited detailed historical parcel-level data on land available for residential development. The paper addresses this data challenge by using a parcel-level data set to measure the buildable-land distribution in New England and track its development from 2007 to 2021.<\/p><\/blockquote>\n

That suggests an overall strategy for the big corporations gobbling up residential properties for rental purposes … try to shade your purchases so you can combine them to make larger parcels. Could be valuable!<\/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>\n1.2631 %<\/td>\n2,610.5<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n1.2631 %<\/td>\n4,949.9<\/td>\n<\/tr>\n
Floater<\/td>\n5.50 %<\/td>\n5.77 %<\/td>\n38,275<\/td>\n14.20<\/td>\n3<\/td>\n1.2631 %<\/td>\n2,852.6<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0872 %<\/td>\n3,636.2<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.79 %<\/td>\n4.45 %<\/td>\n51,689<\/td>\n2.80<\/td>\n5<\/td>\n0.0872 %<\/td>\n4,342.4<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0872 %<\/td>\n3,388.1<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.73 %<\/td>\n-3.35 %<\/td>\n64,194<\/td>\n0.08<\/td>\n3<\/td>\n0.4092 %<\/td>\n3,063.8<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.61 %<\/td>\n5.68 %<\/td>\n51,100<\/td>\n14.32<\/td>\n30<\/td>\n-0.1029 %<\/td>\n3,357.4<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.62 %<\/td>\n5.79 %<\/td>\n93,730<\/td>\n13.91<\/td>\n24<\/td>\n-0.1794 %<\/td>\n3,318.5<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.47 %<\/td>\n5.57 %<\/td>\n48,913<\/td>\n14.43<\/td>\n22<\/td>\n-0.3903 %<\/td>\n3,293.0<\/td>\n<\/tr>\n
FloatingReset<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1794 %<\/td>\n3,947.7<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.98 %<\/td>\n4.54 %<\/td>\n83,776<\/td>\n2.30<\/td>\n24<\/td>\n-0.2437 %<\/td>\n2,653.7<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1794 %<\/td>\n3,392.1<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.05 %<\/td>\n5.26 %<\/td>\n81,252<\/td>\n2.12<\/td>\n14<\/td>\n0.1204 %<\/td>\n3,272.1<\/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
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Prem<\/td>\n-4.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 23.77
\nEvaluated at bid price : 25.08
\nBid-YTW : 6.59 %<\/td>\n<\/tr>\n
BN.PR.T<\/td>\nFixedReset Disc<\/td>\n-4.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.68
\nEvaluated at bid price : 22.10
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n-2.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n-2.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.02
\nEvaluated at bid price : 21.02
\nBid-YTW : 5.30 %<\/td>\n<\/tr>\n
ENB.PR.F<\/td>\nFixedReset Disc<\/td>\n-2.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 22.67
\nEvaluated at bid price : 23.00
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n-2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n-2.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 20.55
\nEvaluated at bid price : 20.55
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n-1.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2028-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.51
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n-1.67 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 22.10
\nEvaluated at bid price : 22.32
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.49
\nEvaluated at bid price : 21.75
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n
NA.PR.K<\/td>\nFixedReset Prem<\/td>\n-1.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-05-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.67
\nBid-YTW : 3.99 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nInsurance Straight<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.76
\nEvaluated at bid price : 22.01
\nBid-YTW : 5.37 %<\/td>\n<\/tr>\n
BN.PR.K<\/td>\nFloater<\/td>\n1.48 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 13.75
\nEvaluated at bid price : 13.75
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
PWF.PF.A<\/td>\nPerpetual-Discount<\/td>\n1.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 20.10
\nEvaluated at bid price : 20.10
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
BN.PR.B<\/td>\nFloater<\/td>\n1.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 13.74
\nEvaluated at bid price : 13.74
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n2.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.20
\nEvaluated at bid price : 21.20
\nBid-YTW : 5.26 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nInsurance Straight<\/td>\n2.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.76
\nEvaluated at bid price : 22.01
\nBid-YTW : 5.53 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n2.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 23.52
\nEvaluated at bid price : 25.45
\nBid-YTW : 5.28 %<\/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
TD.PF.A<\/td>\nFixedReset Prem<\/td>\n208,900<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.55
\nBid-YTW : 4.41 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n51,000<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n50,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 23.38
\nEvaluated at bid price : 25.25
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n33,800<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 24.10
\nEvaluated at bid price : 24.36
\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n
IFC.PR.C<\/td>\nFixedReset Ins Non<\/td>\n33,113<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2026-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.32
\nBid-YTW : 1.30 %<\/td>\n<\/tr>\n
TD.PF.I<\/td>\nFixedReset Prem<\/td>\n30,755<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.90
\nBid-YTW : 4.05 %<\/td>\n<\/tr>\n
There were 10 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
BN.PR.T<\/td>\nFixedReset Disc<\/td>\nQuote: 22.10 – 23.50
\nSpot Rate : 1.4000
\nAverage : 0.7714<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.68
\nEvaluated at bid price : 22.10
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n

IFC.PR.M<\/td>\nPerpetual-Discount<\/td>\nQuote: 25.01 – 26.01
\nSpot Rate : 1.0000
\nAverage : 0.6892<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 24.61
\nEvaluated at bid price : 25.01
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n

MFC.PR.C<\/td>\nInsurance Straight<\/td>\nQuote: 21.45 – 22.25
\nSpot Rate : 0.8000
\nAverage : 0.5553<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n

MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\nQuote: 25.51 – 26.10
\nSpot Rate : 0.5900
\nAverage : 0.3557<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2028-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.51
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n

NA.PR.K<\/td>\nFixedReset Prem<\/td>\nQuote: 27.67 – 28.37
\nSpot Rate : 0.7000
\nAverage : 0.4657<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-05-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 27.67
\nBid-YTW : 3.99 %<\/td>\n<\/tr>\n

SLF.PR.D<\/td>\nInsurance Straight<\/td>\nQuote: 21.25 – 21.85
\nSpot Rate : 0.6000
\nAverage : 0.3796<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-05-28
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.24 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The TXPR Price Index set a new 52-week high today of 710.92, beyond the previous mark of 710.65 set yesterday. Inflation in the US picked up: High gas prices pushed up inflation again last month …<\/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-51954","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51954","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=51954"}],"version-history":[{"count":3,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51954\/revisions"}],"predecessor-version":[{"id":51957,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/51954\/revisions\/51957"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}