{"id":52008,"date":"2026-06-08T19:17:31","date_gmt":"2026-06-08T23:17:31","guid":{"rendered":"https:\/\/prefblog.com\/?p=52008"},"modified":"2026-06-08T19:17:31","modified_gmt":"2026-06-08T23:17:31","slug":"june-8-2026","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52008","title":{"rendered":"June 8, 2026"},"content":{"rendered":"<p>The New York Fed has released the May <a href=\"https:\/\/www.newyorkfed.org\/microeconomics\/sce#\/\">Survey of Consumer Expectations<\/a>:<\/p>\n<blockquote><p><b>May Survey: Household Finance and Labor Market Expectations Deteriorate; Inflation Expectations Down at Short-Term Horizon<\/b><\/p>\n<ul>\n<li>Median inflation expectations decreased by 0.1 percentage point (ppt) to 3.5 percent at the one-year-ahead horizon and were unchanged at 3.1 percent and 3.0 percent at the three-year and five-year-ahead horizons in May.\n<li>Expectations for future credit availability deteriorated, with a lower share of respondents expecting it will be easier to obtain credit in the year ahead. Perceptions of credit access compared to a year ago remained largely unchanged.\n<li>The mean perceived probability of finding a job if one\u2019s current job was lost decreased by 2.3 ppts to 43.7 percent, remaining below its 12-month trailing average of 46.8 percent and marking the lowest reading since December 2025.\n<li>The mean perceived probability of losing one\u2019s job in the next twelve months increased by 0.5 ppt to 15.1 percent, above the series\u2019 12-month trailing average of 14.4 percent.<\/ul>\n<\/blockquote>\n<p>How about that <a href=\"https:\/\/www.theglobeandmail.com\/business\/article-amazon-to-raise-14-billion-in-record-setting-canadian-corporate-bond\/\">Maple market<\/a>, eh?<\/p>\n<blockquote><p>Less than one month after Alphabet Inc. GOOGL-Q -1.42%decrease<br \/>\n broke the record for largest Canadian dollar-denominated corporate bond offering in history, Google\u2019s parent company has already been bested by e-commerce giant Amazon.com Inc AMZN-Q -0.33%decrease<br \/>\n.<\/p>\n<p>Amazon is selling $14-billion worth of maple bonds, the term for loonie-denominated bonds issued by foreign companies, broken into five pieces with maturities ranging from three to 30 years.<\/p>\n<p>The issuance is nearly two-thirds larger than the $8.5-billion, four-part offering sold by Alphabet in mid-May and nearly double the $7.15-billion bond deal raised by Coastal GasLink in 2024, which remains the largest corporate bond ever issued by a Canadian company.<br \/><b>&#8230;<\/b><br \/>The Alphabet deal pushed the total amount of maple bonds issued in 2026 to $19.8-billion, according to Royal Bank of Canada data, setting a new annual record that surpassed the deal-making frenzy of 2021, when the maple market hit $19.2-billion. Not including any other maple deals that have been announced since May 7, the Amazon offering pushes the 2026 total to at least $33.8-billion.<\/p>\n<p>This means the current maple market is already worth nearly one-third of last year\u2019s domestic corporate bond market, and the year isn\u2019t halfway over. Canadian businesses issued a total of approximately $100-billion worth of corporate bonds in 2025, which was the highest amount of corporate debt issuance the country had seen in more than a decade.<br \/><b>&#8230;<\/b><br \/>The 30-year portion of the Amazon offering is the largest, totalling $4.75-billion. Other pieces include a $3.5-billion 10-year bond, a $2.5-billion five-year bond, a $2-billion seven-year bond and a $1.25-billion three-year bond.<\/p>\n<p>The yield on the 30-year part is also the highest, expected to be 1.1 per cent above government bond yields. The other pieces are expected to yield between 0.4 per cent and 0.8 per cent above government yields.<\/p><\/blockquote>\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>5.67 %<\/td>\n<td>6.06 %<\/td>\n<td>28,067<\/td>\n<td>14.78<\/td>\n<td>1<\/td>\n<td>-1.0832 %<\/td>\n<td>2,588.6<\/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>-0.9629 %<\/td>\n<td>4,912.6<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>5.54 %<\/td>\n<td>5.79 %<\/td>\n<td>39,258<\/td>\n<td>14.13<\/td>\n<td>3<\/td>\n<td>-0.9629 %<\/td>\n<td>2,831.2<\/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>-0.6489 %<\/td>\n<td>3,615.2<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.82 %<\/td>\n<td>4.41 %<\/td>\n<td>49,223<\/td>\n<td>2.78<\/td>\n<td>5<\/td>\n<td>-0.6489 %<\/td>\n<td>4,317.3<\/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>-0.6489 %<\/td>\n<td>3,368.5<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/td>\n<td>5.69 %<\/td>\n<td>5.71 %<\/td>\n<td>78,842<\/td>\n<td>14.02<\/td>\n<td>7<\/td>\n<td>-0.0510 %<\/td>\n<td>3,070.3<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.60 %<\/td>\n<td>5.68 %<\/td>\n<td>44,396<\/td>\n<td>14.32<\/td>\n<td>28<\/td>\n<td>-0.2091 %<\/td>\n<td>3,368.3<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>5.61 %<\/td>\n<td>5.90 %<\/td>\n<td>129,459<\/td>\n<td>13.87<\/td>\n<td>19<\/td>\n<td>-0.0476 %<\/td>\n<td>3,314.7<\/td>\n<\/tr>\n<tr>\n<td>Insurance Straight<\/td>\n<td>5.48 %<\/td>\n<td>5.55 %<\/td>\n<td>46,941<\/td>\n<td>14.59<\/td>\n<td>22<\/td>\n<td>-0.0654 %<\/td>\n<td>3,287.0<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/td>\n<td>4.65 %<\/td>\n<td>4.66 %<\/td>\n<td>24,012<\/td>\n<td>16.20<\/td>\n<td>1<\/td>\n<td>-0.1001 %<\/td>\n<td>4,095.3<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Prem<\/td>\n<td>5.93 %<\/td>\n<td>4.68 %<\/td>\n<td>82,439<\/td>\n<td>2.27<\/td>\n<td>29<\/td>\n<td>0.0187 %<\/td>\n<td>2,651.2<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Bank Non<\/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>-0.0476 %<\/td>\n<td>3,388.2<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>5.12 %<\/td>\n<td>5.38 %<\/td>\n<td>72,661<\/td>\n<td>14.51<\/td>\n<td>14<\/td>\n<td>-0.1753 %<\/td>\n<td>3,225.2<\/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>IFC.PR.F<\/td>\n<td>Insurance Straight<\/td>\n<td>-4.14 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 22.66<br \/>\nEvaluated at bid price : 22.91<br \/>\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>-2.63 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 20.75<br \/>\nEvaluated at bid price : 20.75<br \/>\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.M<\/td>\n<td>SplitShare<\/td>\n<td>-2.52 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2031-03-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.79<br \/>\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.S<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-2.21 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 21.25<br \/>\nEvaluated at bid price : 21.25<br \/>\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.K<\/td>\n<td>Floater<\/td>\n<td>-2.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 13.59<br \/>\nEvaluated at bid price : 13.59<br \/>\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.K<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.61 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 21.75<br \/>\nEvaluated at bid price : 22.00<br \/>\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n<tr>\n<td>POW.PR.B<\/td>\n<td>Perpetual-Discount<\/td>\n<td>-1.46 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 23.36<br \/>\nEvaluated at bid price : 23.65<br \/>\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.C<\/td>\n<td>Insurance Straight<\/td>\n<td>-1.29 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 21.50<br \/>\nEvaluated at bid price : 21.50<br \/>\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.Y<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.11 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 21.99<br \/>\nEvaluated at bid price : 22.35<br \/>\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.K<\/td>\n<td>Ratchet<\/td>\n<td>-1.08 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 22.00<br \/>\nEvaluated at bid price : 17.35<br \/>\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.P<\/td>\n<td>Insurance Straight<\/td>\n<td>1.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 23.95<br \/>\nEvaluated at bid price : 24.20<br \/>\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.Q<\/td>\n<td>Insurance Straight<\/td>\n<td>1.32 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 22.82<br \/>\nEvaluated at bid price : 23.10<br \/>\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>2.17 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 22.64<br \/>\nEvaluated at bid price : 23.55<br \/>\nBid-YTW : 6.06 %<\/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>ENB.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>52,600<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 23.26<br \/>\nEvaluated at bid price : 24.66<br \/>\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.I<\/td>\n<td>FixedReset Prem<\/td>\n<td>50,200<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2027-03-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.45<br \/>\nBid-YTW : 4.42 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.T<\/td>\n<td>FixedReset Disc<\/td>\n<td>46,900<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 22.24<br \/>\nEvaluated at bid price : 23.00<br \/>\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n<tr>\n<td>BIP.PR.E<\/td>\n<td>FixedReset Prem<\/td>\n<td>32,400<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2028-03-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.87<br \/>\nBid-YTW : 4.42 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.E<\/td>\n<td>FixedReset Prem<\/td>\n<td>27,000<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2028-05-15<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.71<br \/>\nBid-YTW : 4.51 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.X<\/td>\n<td>FixedReset Disc<\/td>\n<td>16,100<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 21.43<br \/>\nEvaluated at bid price : 21.75<br \/>\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 3 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 colspan='3'>See <a href='https:\/\/prefblog.com\/?p=13456'>TMX DataLinx: &#8216;Last&#8217; != &#8216;Close&#8217;<\/a> and the posts linked therein for an idea of why these quotes are so horrible.<\/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>BN.PR.B<\/td>\n<td>Floater<\/td>\n<td>Quote: 13.72 &#8211; 15.17<br \/>\nSpot Rate  :  1.4500<br \/>\nAverage  :  0.8413<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 13.72<br \/>\nEvaluated at bid price : 13.72<br \/>\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.F<\/td>\n<td>Insurance Straight<\/td>\n<td>Quote: 22.91 &#8211; 24.26<br \/>\nSpot Rate  :  1.3500<br \/>\nAverage  :  0.8635<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 22.66<br \/>\nEvaluated at bid price : 22.91<br \/>\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.K<\/td>\n<td>Insurance Straight<\/td>\n<td>Quote: 23.85 &#8211; 25.10<br \/>\nSpot Rate  :  1.2500<br \/>\nAverage  :  0.8847<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 23.40<br \/>\nEvaluated at bid price : 23.85<br \/>\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.M<\/td>\n<td>Perpetual-Premium<\/td>\n<td>Quote: 25.25 &#8211; 26.25<br \/>\nSpot Rate  :  1.0000<br \/>\nAverage  :  0.6499<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Option Certainty<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.25<br \/>\nBid-YTW : 5.54 %<\/td>\n<\/tr>\n<tr>\n<td>PVS.PR.M<\/td>\n<td>SplitShare<\/td>\n<td>Quote: 24.79 &#8211; 25.79<br \/>\nSpot Rate  :  1.0000<br \/>\nAverage  :  0.7190<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2031-03-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.79<br \/>\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.P<\/td>\n<td>FixedReset Disc<\/td>\n<td>Quote: 20.75 &#8211; 21.45<br \/>\nSpot Rate  :  0.7000<br \/>\nAverage  :  0.4537<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-06-08<br \/>\nMaturity Price  : 20.75<br \/>\nEvaluated at bid price : 20.75<br \/>\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The New York Fed has released the May Survey of Consumer Expectations: May Survey: Household Finance and Labor Market Expectations Deteriorate; Inflation Expectations Down at Short-Term Horizon Median inflation expectations decreased by 0.1 percentage point &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-52008","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52008","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=52008"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52008\/revisions"}],"predecessor-version":[{"id":52009,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52008\/revisions\/52009"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}