{"id":52674,"date":"2026-10-07T20:33:34","date_gmt":"2026-10-08T00:33:34","guid":{"rendered":"https:\/\/prefblog.com\/?p=52674"},"modified":"2026-10-07T20:41:15","modified_gmt":"2026-10-08T00:41:15","slug":"october-7-2026","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52674","title":{"rendered":"October 7, 2026"},"content":{"rendered":"<p>The New York Fed has released the <a href=\"https:\/\/www.newyorkfed.org\/microeconomics\/sce#\/\">September Survey of Consumer Expectations<\/a>:<\/p>\n<blockquote><p><b>September Survey: Inflation Expectations Up at Short- and Medium-Term, Unchanged at Longer-Term Horizons; Labor Market Expectations Mostly Improve<\/b><\/p>\n<ul>\n<li>Median inflation expectations increased by 0.3 percentage point (ppt) at the one-year horizon and by 0.1 ppt at the three-year horizon, to 3.9 percent and 3.3 percent, respectively. This is the highest reading for one-year-ahead inflation expectations since May 2023. Expectations remained unchanged at the five-year-ahead horizon at 3.0 percent.\n<li>Mean unemployment expectations\u2014or the mean probability that the U.S. unemployment rate will be higher one year from now\u2014decreased by 0.5 ppt to 43.9 percent but remained above the 12-month trailing average of 42.4 percent. The mean perceived probability of losing one\u2019s job in the next twelve months decreased by 0.3 ppt to 13.5 percent, the lowest reading since December 2024.\n<li>The median expected growth in household income increased by 0.1 ppt to 3.1 percent, the highest reading since February 2025. Median one-year-ahead nominal household spending growth expectations increased by 0.3 ppt to 5.5 percent, above the 12-month trailing average of 5.0 percent and the highest reading of the series since May 2023.\n<li>Perceptions and expectations about households\u2019 financial situations both deteriorated, with larger shares of households reporting a worse financial situation compared to a year ago and expecting a worse financial situation a year from now.<\/ul>\n<\/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>0.00 %<\/td>\n<td>0.00 %<\/td>\n<td>0<\/td>\n<td>0.00<\/td>\n<td>0<\/td>\n<td>0.0000 %<\/td>\n<td>2,777.3<\/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>0.0000 %<\/td>\n<td>5,230.1<\/td>\n<\/tr>\n<tr>\n<td>Floater<\/td>\n<td>5.28 %<\/td>\n<td>5.31 %<\/td>\n<td>29,848<\/td>\n<td>15.00<\/td>\n<td>2<\/td>\n<td>0.0000 %<\/td>\n<td>3,014.1<\/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>-0.1598 %<\/td>\n<td>3,611.1<\/td>\n<\/tr>\n<tr>\n<td>SplitShare<\/td>\n<td>4.68 %<\/td>\n<td>5.29 %<\/td>\n<td>50,048<\/td>\n<td>1.34<\/td>\n<td>4<\/td>\n<td>-0.1598 %<\/td>\n<td>4,312.5<\/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>-0.1598 %<\/td>\n<td>3,364.8<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Premium<\/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>0.1942 %<\/td>\n<td>2,980.5<\/td>\n<\/tr>\n<tr>\n<td>Perpetual-Discount<\/td>\n<td>5.87 %<\/td>\n<td>5.96 %<\/td>\n<td>47,641<\/td>\n<td>13.89<\/td>\n<td>32<\/td>\n<td>0.1942 %<\/td>\n<td>3,207.1<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Disc<\/td>\n<td>5.73 %<\/td>\n<td>6.28 %<\/td>\n<td>87,898<\/td>\n<td>13.24<\/td>\n<td>24<\/td>\n<td>0.3033 %<\/td>\n<td>3,345.6<\/td>\n<\/tr>\n<tr>\n<td>Insurance Straight<\/td>\n<td>5.78 %<\/td>\n<td>5.86 %<\/td>\n<td>65,664<\/td>\n<td>14.13<\/td>\n<td>19<\/td>\n<td>0.3744 %<\/td>\n<td>3,113.3<\/td>\n<\/tr>\n<tr>\n<td>FloatingReset<\/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>0.3033 %<\/td>\n<td>4,085.0<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Prem<\/td>\n<td>6.00 %<\/td>\n<td>5.09 %<\/td>\n<td>80,557<\/td>\n<td>1.98<\/td>\n<td>24<\/td>\n<td>0.0486 %<\/td>\n<td>2,629.6<\/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>0.3033 %<\/td>\n<td>3,419.9<\/td>\n<\/tr>\n<tr>\n<td>FixedReset Ins Non<\/td>\n<td>5.62 %<\/td>\n<td>5.74 %<\/td>\n<td>52,818<\/td>\n<td>13.79<\/td>\n<td>13<\/td>\n<td>0.4534 %<\/td>\n<td>3,240.0<\/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>NA.PR.E<\/td>\n<td>FixedReset Prem<\/td>\n<td>-3.61 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 23.53<br \/>\nEvaluated at bid price : 24.59<br \/>\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.B<\/td>\n<td>FixedReset Disc<\/td>\n<td>-1.92 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 22.26<br \/>\nEvaluated at bid price : 23.02<br \/>\nBid-YTW : 6.59 %<\/td>\n<\/tr>\n<tr>\n<td>ENB.PR.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.02 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 23.50<br \/>\nEvaluated at bid price : 23.84<br \/>\nBid-YTW : 6.17 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.E<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.04 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2030-04-01<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.35<br \/>\nBid-YTW : 6.09 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.Z<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.16 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2027-12-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.30<br \/>\nBid-YTW : 5.20 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PR.R<\/td>\n<td>FixedReset Disc<\/td>\n<td>1.20 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 22.57<br \/>\nEvaluated at bid price : 23.52<br \/>\nBid-YTW : 6.17 %<\/td>\n<\/tr>\n<tr>\n<td>CCS.PR.C<\/td>\n<td>Insurance Straight<\/td>\n<td>1.22 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 21.51<br \/>\nEvaluated at bid price : 21.51<br \/>\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.C<\/td>\n<td>Insurance Straight<\/td>\n<td>1.37 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 19.99<br \/>\nEvaluated at bid price : 19.99<br \/>\nBid-YTW : 5.61 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.M<\/td>\n<td>Insurance Straight<\/td>\n<td>1.39 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 24.55<br \/>\nEvaluated at bid price : 24.80<br \/>\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.G<\/td>\n<td>Perpetual-Discount<\/td>\n<td>1.41 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 19.40<br \/>\nEvaluated at bid price : 19.40<br \/>\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.Q<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>1.42 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 23.64<br \/>\nEvaluated at bid price : 24.92<br \/>\nBid-YTW : 6.20 %<\/td>\n<\/tr>\n<tr>\n<td>GWO.PR.R<\/td>\n<td>Insurance Straight<\/td>\n<td>2.00 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 20.41<br \/>\nEvaluated at bid price : 20.41<br \/>\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.F<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>2.41 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 21.36<br \/>\nEvaluated at bid price : 21.66<br \/>\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n<tr>\n<td>IFC.PR.A<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>3.88 %<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 23.09<br \/>\nEvaluated at bid price : 23.58<br \/>\nBid-YTW : 5.67 %<\/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>MFC.PR.L<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>232,938<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 23.20<br \/>\nEvaluated at bid price : 24.41<br \/>\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n<tr>\n<td>FTS.PR.H<\/td>\n<td>FixedReset Disc<\/td>\n<td>150,484<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 20.50<br \/>\nEvaluated at bid price : 20.50<br \/>\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.S<\/td>\n<td>FixedReset Prem<\/td>\n<td>110,725<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2029-05-15<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.75<br \/>\nBid-YTW : 4.73 %<\/td>\n<\/tr>\n<tr>\n<td>CU.PR.E<\/td>\n<td>Perpetual-Discount<\/td>\n<td>100,800<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 20.87<br \/>\nEvaluated at bid price : 20.87<br \/>\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n<tr>\n<td>SLF.PR.D<\/td>\n<td>Insurance Straight<\/td>\n<td>76,960<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 19.91<br \/>\nEvaluated at bid price : 19.91<br \/>\nBid-YTW : 5.63 %<\/td>\n<\/tr>\n<tr>\n<td>BN.PF.G<\/td>\n<td>FixedReset Disc<\/td>\n<td>56,300<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Call<br \/>\nMaturity Date\t: 2030-07-01<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 24.55<br \/>\nBid-YTW : 6.28 %<\/td>\n<\/tr>\n<tr>\n<td colspan='4'>There were 21 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>MFC.PR.B<\/td>\n<td>Insurance Straight<\/td>\n<td>Quote: 20.65 &#8211; 22.79<br \/>\nSpot Rate  :  2.1400<br \/>\nAverage  :  1.2142<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 20.65<br \/>\nEvaluated at bid price : 20.65<br \/>\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.F<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 22.54 &#8211; 23.98<br \/>\nSpot Rate  :  1.4400<br \/>\nAverage  :  0.8700<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 22.27<br \/>\nEvaluated at bid price : 22.54<br \/>\nBid-YTW : 5.93 %<\/td>\n<\/tr>\n<tr>\n<td>POW.PR.B<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 22.91 &#8211; 24.13<br \/>\nSpot Rate  :  1.2200<br \/>\nAverage  :  0.7420<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 22.67<br \/>\nEvaluated at bid price : 22.91<br \/>\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n<tr>\n<td>PWF.PR.H<\/td>\n<td>Perpetual-Discount<\/td>\n<td>Quote: 24.40 &#8211; 25.40<br \/>\nSpot Rate  :  1.0000<br \/>\nAverage  :  0.6238<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 24.15<br \/>\nEvaluated at bid price : 24.40<br \/>\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n<tr>\n<td>NA.PR.E<\/td>\n<td>FixedReset Prem<\/td>\n<td>Quote: 24.59 &#8211; 25.59<br \/>\nSpot Rate  :  1.0000<br \/>\nAverage  :  0.6572<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 23.53<br \/>\nEvaluated at bid price : 24.59<br \/>\nBid-YTW : 6.24 %<\/td>\n<\/tr>\n<tr>\n<td>MFC.PR.F<\/td>\n<td>FixedReset Ins Non<\/td>\n<td>Quote: 21.66 &#8211; 22.90<br \/>\nSpot Rate  :  1.2400<br \/>\nAverage  :  0.9320<\/p>\n<p>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2056-10-07<br \/>\nMaturity Price  : 21.36<br \/>\nEvaluated at bid price : 21.66<br \/>\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The New York Fed has released the September Survey of Consumer Expectations: September Survey: Inflation Expectations Up at Short- and Medium-Term, Unchanged at Longer-Term Horizons; Labor Market Expectations Mostly Improve Median inflation expectations increased by &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-52674","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52674","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=52674"}],"version-history":[{"count":3,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52674\/revisions"}],"predecessor-version":[{"id":52679,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52674\/revisions\/52679"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}