{"id":52624,"date":"2026-09-24T21:14:10","date_gmt":"2026-09-25T01:14:10","guid":{"rendered":"https:\/\/prefblog.com\/?p=52624"},"modified":"2026-09-24T21:14:10","modified_gmt":"2026-09-25T01:14:10","slug":"september-24-2026","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52624","title":{"rendered":"September 24, 2026"},"content":{"rendered":"
<\/a><\/div>\n

The TXPR price index<\/a> was down 52bp today. Volume was 707,980, near the median of the second-highest volume of the past 20 trading days. <\/p>\n

CPD<\/a> was down 71bp to 13.95, on volume of 136,110 (consolidated: 332,330), highest of the past 20 trading days.<\/p>\n

ZPR<\/a> was down 31bp today on volume of 139,470 (consolidated: 423,470) above the median of the past 20 trading days.<\/p>\n

There’s some hawkish talk from Fed governors<\/a>:<\/p>\n

The U.S. central bank will likely need to raise interest rates again to curb unacceptably high inflation, two Federal Reserve policy-makers said on Thursday.<\/p>\n

\u201cReturning inflation to 2 per cent is a top priority, and I will support the policy path that gets us there while carefully weighing risks to the labor market along the way,\u201d Philadelphia Fed President Anna Paulson told a conference at her regional bank.<\/p>\n

Paulson, a voting member of the central bank\u2019s rate-setting Federal Open Market Committee, described inflation as \u201cstubbornly elevated\u201d and said \u201cif conditions evolve as I expect, some modest further tightening may be warranted.\u201d<\/p>\n

Speaking in London, New York Fed President John Williams also suggested tighter monetary policy is coming. Citing Fed policy maker projections released last week that penciled in a rate increase, he said \u201cit\u2019s likely that another rate hike may be appropriate by the end of the year. That seems to me a reasonable way of thinking about it.\u201d<\/p>\n

Paulson and Williams spoke just over a week after the Fed raised its benchmark interest rate by a quarter of a percentage point, to the 3.75-to-4.00-per-cent range, in an effort to curb high inflation that threatens to undermine public confidence in the central bank\u2019s ability to reach the 2-per-cent target.<\/p><\/blockquote>\n

The bond market continued its weakness<\/a>:<\/p>\n

US and Iranian leaders exchanged barbs this week at the UN General Assembly. Brent crude prices rose \u200bover 3% to nearly US$107 per barrel after a Houthi missile attack on \u200cSaudi Arabia revived fears of supply disruptions.
…<\/b>
The U.S. 30-year Treasury bond yield reached its highest since 2004. The yield on the benchmark U.S. 10-year Treasury climbed to 5.21% by late afternoon, up 10 basis points and its highest since early this century. The Canadian 10-year yield was up about 5 basis points to near 4%, its highest since 2023.
…<\/b>
The S&P 500 declined 0.02% to end the session at 7,704.13 points. The Nasdaq edged up 0.01% to 26,939.37 points, while the Dow Jones Industrial Average declined 0.31% to 51,349.98 points.<\/p>\n

The \u200bTSX ended down 44.97 points, or 0.1%, at 35,706.46, its lowest closing level since September 16.<\/p><\/blockquote>\n

The Canada five-year<\/a> finished the day at 3.72%.<\/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>\n-0.4200 %<\/td>\n2,786.9<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.4200 %<\/td>\n5,248.1<\/td>\n<\/tr>\n
Floater<\/td>\n5.19 %<\/td>\n5.29 %<\/td>\n27,571<\/td>\n15.06<\/td>\n3<\/td>\n-0.4200 %<\/td>\n3,024.5<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0299 %<\/td>\n3,629.2<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.65 %<\/td>\n4.55 %<\/td>\n51,901<\/td>\n2.51<\/td>\n4<\/td>\n0.0299 %<\/td>\n4,334.0<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0299 %<\/td>\n3,381.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.77 %<\/td>\n5.79 %<\/td>\n65,557<\/td>\n14.20<\/td>\n9<\/td>\n-0.6953 %<\/td>\n3,007.4<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.77 %<\/td>\n5.84 %<\/td>\n41,217<\/td>\n14.09<\/td>\n21<\/td>\n-0.7809 %<\/td>\n3,274.5<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.63 %<\/td>\n6.21 %<\/td>\n82,769<\/td>\n13.54<\/td>\n21<\/td>\n-0.1240 %<\/td>\n3,380.5<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.68 %<\/td>\n5.77 %<\/td>\n54,983<\/td>\n14.27<\/td>\n19<\/td>\n-0.5008 %<\/td>\n3,166.8<\/td>\n<\/tr>\n
FloatingReset<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1240 %<\/td>\n4,127.6<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.97 %<\/td>\n4.81 %<\/td>\n77,959<\/td>\n2.01<\/td>\n27<\/td>\n-0.1807 %<\/td>\n2,646.0<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1240 %<\/td>\n3,455.6<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.24 %<\/td>\n5.40 %<\/td>\n49,615<\/td>\n2.52<\/td>\n14<\/td>\n0.8491 %<\/td>\n3,260.0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BN.PR.Z<\/td>\nFixedReset Disc<\/td>\n-7.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 23.02
\nEvaluated at bid price : 23.50
\nBid-YTW : 6.91 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nInsurance Straight<\/td>\n-4.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 20.74
\nEvaluated at bid price : 20.74
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\n-2.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 20.80
\nEvaluated at bid price : 20.80
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n-2.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 19.51
\nEvaluated at bid price : 19.51
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset Ins Non<\/td>\n-2.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n-1.80 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.68
\nEvaluated at bid price : 22.97
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
GWO.PR.L<\/td>\nInsurance Straight<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 23.95
\nEvaluated at bid price : 24.20
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n-1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.49
\nEvaluated at bid price : 22.75
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n-1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 5.43 %<\/td>\n<\/tr>\n
ENB.PF.G<\/td>\nFixedReset Disc<\/td>\n-1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.91
\nEvaluated at bid price : 24.10
\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n
BN.PF.E<\/td>\nFixedReset Disc<\/td>\n1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2030-04-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.60
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.59 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 19.82
\nEvaluated at bid price : 19.82
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
ENB.PR.Y<\/td>\nFixedReset Disc<\/td>\n2.88 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.56
\nEvaluated at bid price : 23.20
\nBid-YTW : 6.30 %<\/td>\n<\/tr>\n
CCS.PR.C<\/td>\nInsurance Straight<\/td>\n4.70 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.24
\nEvaluated at bid price : 22.51
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n20.79 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 23.64
\nEvaluated at bid price : 24.00
\nBid-YTW : 6.37 %<\/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.C<\/td>\nFixedReset Disc<\/td>\n101,361<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-06-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.13
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n
ENB.PF.E<\/td>\nFixedReset Disc<\/td>\n56,281<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.83
\nEvaluated at bid price : 23.88
\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n
ENB.PR.T<\/td>\nFixedReset Disc<\/td>\n33,598<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 23.28
\nEvaluated at bid price : 24.60
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
BILP.PR.A<\/td>\nFixedReset Prem<\/td>\n20,050<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2031-10-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.98
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
PWF.PR.G<\/td>\nPerpetual-Premium<\/td>\n18,720<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2026-10-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.30
\nBid-YTW : 2.09 %<\/td>\n<\/tr>\n
GWO.PR.Q<\/td>\nInsurance Straight<\/td>\n15,961<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.04
\nEvaluated at bid price : 22.27
\nBid-YTW : 5.80 %<\/td>\n<\/tr>\n
There were 8 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.Z<\/td>\nFixedReset Disc<\/td>\nQuote: 23.50 – 25.38
\nSpot Rate : 1.8800
\nAverage : 1.0872<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 23.02
\nEvaluated at bid price : 23.50
\nBid-YTW : 6.91 %<\/td>\n<\/tr>\n

MFC.PR.B<\/td>\nInsurance Straight<\/td>\nQuote: 20.74 – 21.74
\nSpot Rate : 1.0000
\nAverage : 0.5946<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 20.74
\nEvaluated at bid price : 20.74
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n

PWF.PR.P<\/td>\nFixedReset Disc<\/td>\nQuote: 22.20 – 23.20
\nSpot Rate : 1.0000
\nAverage : 0.6701<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 21.81
\nEvaluated at bid price : 22.20
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n

ENB.PR.T<\/td>\nFixedReset Disc<\/td>\nQuote: 24.60 – 25.39
\nSpot Rate : 0.7900
\nAverage : 0.4616<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 23.28
\nEvaluated at bid price : 24.60
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n

FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.80 – 21.63
\nSpot Rate : 0.8300
\nAverage : 0.5329<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 20.80
\nEvaluated at bid price : 20.80
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n

IFC.PR.F<\/td>\nInsurance Straight<\/td>\nQuote: 22.97 – 24.40
\nSpot Rate : 1.4300
\nAverage : 1.1753<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-09-24
\nMaturity Price : 22.68
\nEvaluated at bid price : 22.97
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The TXPR price index was down 52bp today. Volume was 707,980, near the median of the second-highest volume of the past 20 trading days. CPD was down 71bp to 13.95, on volume of 136,110 (consolidated: …<\/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-52624","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52624","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=52624"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52624\/revisions"}],"predecessor-version":[{"id":52626,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52624\/revisions\/52626"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}