{"id":52732,"date":"2026-10-16T20:23:31","date_gmt":"2026-10-17T00:23:31","guid":{"rendered":"https:\/\/prefblog.com\/?p=52732"},"modified":"2026-10-16T20:23:31","modified_gmt":"2026-10-17T00:23:31","slug":"october-16-2026","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52732","title":{"rendered":"October 16, 2026"},"content":{"rendered":"
<\/a><\/div>\n

There was a big pop at the close for the TXPR price index due to<\/a>…:<\/p>\n

Rebalancing<\/b><\/p>\n

Index membership is reviewed quarterly. Rebalancing occurs after the close on the third Friday of January, April, July, and October.<\/p><\/blockquote>\n

The TXPR price index was up 67bp to 705.57. Volume was 4.27-million, more than double that of the second-highest volume of the past 20 trading days. <\/p>\n

CPD was up 7bp to 13.98, on volume of 23,190 (consolidated: 88,060), third-lowest of the past 20 trading days.<\/p>\n

ZPR was down 8bp to 12.88 on volume of 147,730 (consolidated: 434,060) well above the median of the past 20 trading days.<\/p>\n

US equities got whacked<\/a>:<\/p>\n

Wall Street ended sharply lower on Friday, with CoreWeave, Broadcom and other AI-related technology stocks under renewed pressure, while a jump in oil prices spooked traders heading into the weekend. The TSX ended with a very modest gain, with strength in the heavily weighted energy sector helping to offset losses in tech stocks, which have much less influence on the Canadian benchmark.<\/p>\n

The Nasdaq extended losses from earlier \u2060in the \u200bweek, hammered by concerns that debt-laden AI infrastructure companies may not turn profits in time to repay debts, particularly with borrowing costs expected to rise.<\/p>\n

Nvidia-backed CoreWeave slumped 12%, bringing its loss over the past five sessions to about 25%. The data center operator\u2019s bonds also sold off sharply this week, pushing yields above 15%.
…<\/b>
Investors on Friday were also watching oil prices jump around 3%. Brent touched US$110 a barrel for the first time since \u200bMay on worries that escalating tensions \u200cin the Middle East could further tighten supplies.
…<\/b>
The \u2060S&P 500 declined 1.09% to end the session at 7,659.44 points. The Nasdaq declined 2.15% to 26,140.03 \u2060points, while the Dow Jones Industrial Average dipped 0.34% to 52,002.41 points.
…<\/b>
The S&P\/TSX Composite Index closed at 36,176.55, up 39.45 points, or 0.11%.
…<\/b>
Federal Reserve Chair Kevin Warsh on Friday voiced optimism about US economic strength and surprise \u2060about how well global economies have been \u201changing in there\u201d during a lingering energy shock and tighter monetary policy to fight inflation.<\/p><\/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-0.2713 %<\/td>\n2,770.7<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2713 %<\/td>\n5,217.7<\/td>\n<\/tr>\n
Floater<\/td>\n5.30 %<\/td>\n5.34 %<\/td>\n27,660<\/td>\n14.94<\/td>\n2<\/td>\n-0.2713 %<\/td>\n3,007.0<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2167 %<\/td>\n3,608.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.81 %<\/td>\n5.02 %<\/td>\n54,350<\/td>\n2.45<\/td>\n5<\/td>\n0.2167 %<\/td>\n4,309.5<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.2167 %<\/td>\n3,362.5<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.4059 %<\/td>\n3,024.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.79 %<\/td>\n5.82 %<\/td>\n52,896<\/td>\n14.12<\/td>\n32<\/td>\n0.4059 %<\/td>\n3,254.0<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.75 %<\/td>\n6.20 %<\/td>\n86,618<\/td>\n13.30<\/td>\n24<\/td>\n-0.6729 %<\/td>\n3,334.2<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.71 %<\/td>\n5.80 %<\/td>\n69,951<\/td>\n14.21<\/td>\n19<\/td>\n0.2924 %<\/td>\n3,149.8<\/td>\n<\/tr>\n
FloatingReset<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.6729 %<\/td>\n4,071.1<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.02 %<\/td>\n4.57 %<\/td>\n83,451<\/td>\n1.95<\/td>\n24<\/td>\n-0.1379 %<\/td>\n2,623.1<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.6729 %<\/td>\n3,408.3<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.58 %<\/td>\n5.57 %<\/td>\n53,337<\/td>\n4.30<\/td>\n13<\/td>\n0.4116 %<\/td>\n3,264.3<\/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
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-4.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.52
\nEvaluated at bid price : 24.00
\nBid-YTW : 6.80 %<\/td>\n<\/tr>\n
ENB.PF.A<\/td>\nFixedReset Disc<\/td>\n-2.45 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 22.71
\nEvaluated at bid price : 23.51
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
ENB.PR.H<\/td>\nFixedReset Disc<\/td>\n-2.42 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.01
\nEvaluated at bid price : 23.37
\nBid-YTW : 6.22 %<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Prem<\/td>\n-2.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2027-11-15
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.51
\nBid-YTW : 4.57 %<\/td>\n<\/tr>\n
ENB.PF.C<\/td>\nFixedReset Disc<\/td>\n-2.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 22.54
\nEvaluated at bid price : 23.25
\nBid-YTW : 6.56 %<\/td>\n<\/tr>\n
ENB.PR.F<\/td>\nFixedReset Disc<\/td>\n-2.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 22.75
\nEvaluated at bid price : 23.15
\nBid-YTW : 6.57 %<\/td>\n<\/tr>\n
ENB.PR.Y<\/td>\nFixedReset Disc<\/td>\n-1.75 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 22.09
\nEvaluated at bid price : 22.45
\nBid-YTW : 6.55 %<\/td>\n<\/tr>\n
BN.PR.R<\/td>\nFixedReset Disc<\/td>\n-1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 22.46
\nEvaluated at bid price : 23.31
\nBid-YTW : 6.16 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n-1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 21.27
\nEvaluated at bid price : 21.27
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
ENB.PR.J<\/td>\nFixedReset Disc<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.20
\nEvaluated at bid price : 24.25
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
GWO.PR.Z<\/td>\nInsurance Straight<\/td>\n1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 24.21
\nEvaluated at bid price : 24.60
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
BN.PF.E<\/td>\nFixedReset Disc<\/td>\n1.63 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.08
\nEvaluated at bid price : 24.39
\nBid-YTW : 6.04 %<\/td>\n<\/tr>\n
BN.PF.B<\/td>\nFixedReset Disc<\/td>\n1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.50
\nEvaluated at bid price : 25.06
\nBid-YTW : 6.15 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n2.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.29
\nEvaluated at bid price : 24.60
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n
BN.PR.N<\/td>\nPerpetual-Discount<\/td>\n2.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 6.12 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n3.96 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.10
\nEvaluated at bid price : 23.60
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
POW.PR.H<\/td>\nPerpetual-Discount<\/td>\n5.52 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 24.45
\nEvaluated at bid price : 24.85
\nBid-YTW : 5.81 %<\/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
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n284,087<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 23.29
\nEvaluated at bid price : 24.60
\nBid-YTW : 5.82 %<\/td>\n<\/tr>\n
PVS.PR.N<\/td>\nSplitShare<\/td>\n280,100<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2033-09-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.96
\nBid-YTW : 5.35 %<\/td>\n<\/tr>\n
NA.PR.I<\/td>\nFixedReset Prem<\/td>\n190,718<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-05-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.00
\nBid-YTW : 5.67 %<\/td>\n<\/tr>\n
BILP.PR.A<\/td>\nFixedReset Prem<\/td>\n157,405<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2031-10-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.15
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
FTS.PR.M<\/td>\nFixedReset Disc<\/td>\n38,218<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.56
\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Prem<\/td>\n33,543<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2029-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.34
\nBid-YTW : 4.44 %<\/td>\n<\/tr>\n
There were 79 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
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\nQuote: 25.05 – 30.37
\nSpot Rate : 5.3200
\nAverage : 2.8721<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2031-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.05
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n

CU.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 19.70 – 26.00
\nSpot Rate : 6.3000
\nAverage : 4.0111<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 19.70
\nEvaluated at bid price : 19.70
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n

PWF.PR.P<\/td>\nFixedReset Disc<\/td>\nQuote: 21.27 – 25.00
\nSpot Rate : 3.7300
\nAverage : 2.0482<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 21.27
\nEvaluated at bid price : 21.27
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n

PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.58 – 23.90
\nSpot Rate : 2.3200
\nAverage : 1.3652<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.58
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n

SLF.PR.C<\/td>\nInsurance Straight<\/td>\nQuote: 20.05 – 21.95
\nSpot Rate : 1.9000
\nAverage : 1.1507<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 20.05
\nEvaluated at bid price : 20.05
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n

GWO.PR.I<\/td>\nInsurance Straight<\/td>\nQuote: 19.75 – 21.38
\nSpot Rate : 1.6300
\nAverage : 0.9249<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-16
\nMaturity Price : 19.75
\nEvaluated at bid price : 19.75
\nBid-YTW : 5.75 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

There was a big pop at the close for the TXPR price index due to…: Rebalancing Index membership is reviewed quarterly. Rebalancing occurs after the close on the third Friday of January, April, July, and …<\/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-52732","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52732","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=52732"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52732\/revisions"}],"predecessor-version":[{"id":52733,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52732\/revisions\/52733"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}