{"id":52749,"date":"2026-10-22T20:59:22","date_gmt":"2026-10-23T00:59:22","guid":{"rendered":"https:\/\/prefblog.com\/?p=52749"},"modified":"2026-10-22T20:59:22","modified_gmt":"2026-10-23T00:59:22","slug":"october-22-2026","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52749","title":{"rendered":"October 22, 2026"},"content":{"rendered":"

Interesting times for equities<\/a>!<\/p>\n

Stocks tumbled on Thursday and the Nasdaq posted its steepest daily drop since early June as a batch of high-profile earnings reports ignited fresh fears about the AI spending race, sending investors scurrying to the safety of the bond market. Yields on U.S. Treasuries, which move inversely to prices, saw some of their biggest one-day declines in years.
…<\/b>
Meta Platforms\u2019 results beat analyst expectations, but its stock slid 7.0% as the Facebook parent posted its first cash outflow in more than a decade due to \u200bits AI-related expenditures and announced plans to issue non-voting shares in a two-for-one split to \u200craise capital to spend on the nascent technology.
…<\/b>
Domestically, markets are pricing in nearly 80% odds that the Bank of Canada will hike interest rates next week, in what would be its first move on rates in a year, as it fights off the inflationary impact of surging crude oil prices. Several economists, however, say the bank should stay on hold for now.<\/p>\n

The yield on the benchmark US \u206010-year Treasury note fell 19.3 basis points to 4.953%, its biggest daily drop since \u200bMarch 10, 2023. The yield had risen to 5.3645% on October 7, its highest since April 2002.
…<\/b>
The Dow Jones Industrial Average rose 11.89 points, or 0.02%, to 52,867.98, the S&P 500 lost 93.74 points, or 1.21%, to 7,663.43 and the Nasdaq Composite lost 694.00 points, or 2.60%, to 26,008.86.<\/p>\n

The S&P\/TSX Composite Index ended down 351.54 points, or 1%, at 35,973.45. It posted on Wednesday its highest closing level since September 22.<\/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-0.1018 %<\/td>\n2,772.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1018 %<\/td>\n5,221.2<\/td>\n<\/tr>\n
Floater<\/td>\n5.29 %<\/td>\n5.35 %<\/td>\n50,977<\/td>\n14.92<\/td>\n2<\/td>\n-0.1018 %<\/td>\n3,009.0<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2640 %<\/td>\n3,603.5<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.81 %<\/td>\n5.43 %<\/td>\n60,822<\/td>\n2.43<\/td>\n5<\/td>\n-0.2640 %<\/td>\n4,303.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2640 %<\/td>\n3,357.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1753 %<\/td>\n3,051.7<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.74 %<\/td>\n5.78 %<\/td>\n50,675<\/td>\n14.19<\/td>\n32<\/td>\n-0.1753 %<\/td>\n3,283.6<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.72 %<\/td>\n6.33 %<\/td>\n84,171<\/td>\n13.26<\/td>\n25<\/td>\n-0.1436 %<\/td>\n3,352.8<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.69 %<\/td>\n5.77 %<\/td>\n71,726<\/td>\n14.21<\/td>\n19<\/td>\n-0.0456 %<\/td>\n3,163.2<\/td>\n<\/tr>\n
FloatingReset<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1436 %<\/td>\n4,093.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n6.02 %<\/td>\n4.81 %<\/td>\n77,694<\/td>\n1.93<\/td>\n24<\/td>\n-0.1395 %<\/td>\n2,621.7<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1436 %<\/td>\n3,427.3<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n5.62 %<\/td>\n5.77 %<\/td>\n48,801<\/td>\n13.70<\/td>\n13<\/td>\n-0.4685 %<\/td>\n3,239.4<\/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
FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\n-5.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 20.80
\nEvaluated at bid price : 20.80
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n-3.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n
MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\n-3.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.12
\nEvaluated at bid price : 24.39
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n
PWF.PR.O<\/td>\nPerpetual-Discount<\/td>\n-2.54 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.93
\nEvaluated at bid price : 24.17
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nInsurance Straight<\/td>\n-2.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 5.88 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Prem<\/td>\n-1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2028-11-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.26
\nBid-YTW : 4.84 %<\/td>\n<\/tr>\n
IFC.PR.G<\/td>\nFixedReset Ins Non<\/td>\n-1.61 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2028-06-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.10
\nBid-YTW : 6.03 %<\/td>\n<\/tr>\n
CU.PR.E<\/td>\nPerpetual-Discount<\/td>\n-1.38 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 21.97
\nEvaluated at bid price : 22.20
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n
BN.PR.T<\/td>\nFixedReset Disc<\/td>\n-1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 22.50
\nEvaluated at bid price : 23.45
\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n
BN.PR.X<\/td>\nFixedReset Disc<\/td>\n-1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 21.33
\nEvaluated at bid price : 21.60
\nBid-YTW : 6.35 %<\/td>\n<\/tr>\n
PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\n-1.09 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 21.56
\nEvaluated at bid price : 21.82
\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n
IFC.PR.F<\/td>\nInsurance Straight<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.20
\nEvaluated at bid price : 23.50
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
POW.PR.B<\/td>\nPerpetual-Discount<\/td>\n1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.38
\nEvaluated at bid price : 23.67
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nInsurance Straight<\/td>\n1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 22.82
\nEvaluated at bid price : 23.10
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
ENB.PF.G<\/td>\nFixedReset Disc<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 22.87
\nEvaluated at bid price : 24.00
\nBid-YTW : 6.49 %<\/td>\n<\/tr>\n
FTS.PR.F<\/td>\nPerpetual-Discount<\/td>\n1.76 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 22.34
\nEvaluated at bid price : 22.61
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
GWO.PR.Z<\/td>\nInsurance Straight<\/td>\n2.81 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 24.47
\nEvaluated at bid price : 24.88
\nBid-YTW : 5.77 %<\/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
BN.PF.N<\/td>\nFixedReset Disc<\/td>\n466,011<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.13
\nEvaluated at bid price : 24.93
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
PVS.PR.N<\/td>\nSplitShare<\/td>\n161,767<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2033-09-29
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.75
\nBid-YTW : 5.51 %<\/td>\n<\/tr>\n
CU.PR.G<\/td>\nPerpetual-Discount<\/td>\n66,200<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 5.55 %<\/td>\n<\/tr>\n
PVS.PR.H<\/td>\nSplitShare<\/td>\n63,162<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2027-02-28
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.06
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n
ENB.PR.B<\/td>\nFixedReset Disc<\/td>\n58,900<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 22.99
\nEvaluated at bid price : 23.70
\nBid-YTW : 6.45 %<\/td>\n<\/tr>\n
ENB.PR.J<\/td>\nFixedReset Disc<\/td>\n56,100<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.38
\nEvaluated at bid price : 24.68
\nBid-YTW : 6.34 %<\/td>\n<\/tr>\n
There were 5 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.C<\/td>\nInsurance Straight<\/td>\nQuote: 20.11 – 21.95
\nSpot Rate : 1.8400
\nAverage : 1.0611<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 20.11
\nEvaluated at bid price : 20.11
\nBid-YTW : 5.59 %<\/td>\n<\/tr>\n

FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.80 – 22.15
\nSpot Rate : 1.3500
\nAverage : 0.8969<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 20.80
\nEvaluated at bid price : 20.80
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n

MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\nQuote: 24.39 – 25.39
\nSpot Rate : 1.0000
\nAverage : 0.6551<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.12
\nEvaluated at bid price : 24.39
\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n

PWF.PR.O<\/td>\nPerpetual-Discount<\/td>\nQuote: 24.17 – 24.95
\nSpot Rate : 0.7800
\nAverage : 0.4787<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 23.93
\nEvaluated at bid price : 24.17
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n

BMO.PR.E<\/td>\nFixedReset Prem<\/td>\nQuote: 26.26 – 26.96
\nSpot Rate : 0.7000
\nAverage : 0.4088<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2028-11-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.26
\nBid-YTW : 4.84 %<\/td>\n<\/tr>\n

GWO.PR.H<\/td>\nInsurance Straight<\/td>\nQuote: 20.51 – 21.40
\nSpot Rate : 0.8900
\nAverage : 0.6070<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2056-10-22
\nMaturity Price : 20.51
\nEvaluated at bid price : 20.51
\nBid-YTW : 5.98 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Interesting times for equities! Stocks tumbled on Thursday and the Nasdaq posted its steepest daily drop since early June as a batch of high-profile earnings reports ignited fresh fears about the AI spending race, sending …<\/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-52749","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52749","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=52749"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52749\/revisions"}],"predecessor-version":[{"id":52751,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52749\/revisions\/52751"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}