To my astonishment, the media have not picked up on the Hydro One downgrade I mentioned yesterday. Have we entered the Trump-zone, in which repercussions from old idiocies are overwhelmed by contemplation of new idiocies?
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.4768 % | 3,050.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.4768 % | 5,597.3 |
| Floater | 3.56 % | 3.70 % | 40,494 | 18.09 | 4 | -1.4768 % | 3,225.7 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2378 % | 3,222.3 |
| SplitShare | 4.62 % | 4.61 % | 57,275 | 4.81 | 5 | -0.2378 % | 3,848.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2378 % | 3,002.4 |
| Perpetual-Premium | 5.55 % | 1.22 % | 50,968 | 0.13 | 12 | -0.1934 % | 2,914.2 |
| Perpetual-Discount | 5.43 % | 5.53 % | 55,010 | 14.54 | 22 | -0.4223 % | 2,992.7 |
| FixedReset Disc | 4.17 % | 4.99 % | 136,445 | 15.58 | 41 | -0.2400 % | 2,572.0 |
| Deemed-Retractible | 5.17 % | 5.86 % | 60,256 | 5.38 | 27 | -0.3347 % | 2,990.6 |
| FloatingReset | 3.36 % | 4.03 % | 38,847 | 5.67 | 5 | -0.3063 % | 2,855.7 |
| FixedReset Prem | 4.84 % | 4.05 % | 167,322 | 2.88 | 35 | 0.0391 % | 2,566.9 |
| FixedReset Bank Non | 3.19 % | 3.92 % | 63,736 | 3.13 | 9 | -0.0677 % | 2,570.7 |
| FixedReset Ins Non | 4.32 % | 5.25 % | 93,848 | 5.46 | 22 | -0.4986 % | 2,562.0 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| SLF.PR.H | FixedReset Ins Non | -6.83 % | A nonsensical quote from Nonsense Central, as this issue traded 600 shares today, all at 22.35 before being quoted at 20.46-22.35 by the Exchange.
I have not checked whether this lamentable state of affairs is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| SLF.PR.G | FixedReset Ins Non | -5.11 % | A nonsensical quote from Nonsense Central, as this issue traded 2,200 shares today in a range of 19.85-98 before being quoted at 18.93-19.93 by the Exchange.
I have not checked whether this lamentable state of affairs is due to inadequate Toronto Stock Exchange reporting or inadequate Toronto Stock Exchange supervision of market-makers. YTW SCENARIO |
| SLF.PR.D | Deemed-Retractible | -4.66 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 20.44 Bid-YTW : 8.18 % |
| CU.PR.D | Perpetual-Discount | -4.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 5.61 % |
| MFC.PR.I | FixedReset Ins Non | -3.99 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.85 Bid-YTW : 5.50 % |
| BAM.PR.K | Floater | -3.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 16.88 Evaluated at bid price : 16.88 Bid-YTW : 3.83 % |
| BAM.PF.D | Perpetual-Discount | -3.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 20.58 Evaluated at bid price : 20.58 Bid-YTW : 5.98 % |
| CM.PR.O | FixedReset Disc | -3.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 22.10 Evaluated at bid price : 22.75 Bid-YTW : 5.00 % |
| BAM.PR.Z | FixedReset Disc | -2.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 22.83 Evaluated at bid price : 24.00 Bid-YTW : 5.24 % |
| TRP.PR.B | FixedReset Disc | -2.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 16.81 Evaluated at bid price : 16.81 Bid-YTW : 5.07 % |
| PWF.PR.A | Floater | -1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 3.10 % |
| TD.PF.B | FixedReset Disc | -1.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 22.13 Evaluated at bid price : 22.80 Bid-YTW : 4.94 % |
| BAM.PR.R | FixedReset Disc | -1.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 20.19 Evaluated at bid price : 20.19 Bid-YTW : 5.35 % |
| PWF.PR.E | Perpetual-Premium | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 24.50 Evaluated at bid price : 24.75 Bid-YTW : 5.63 % |
| MFC.PR.B | Deemed-Retractible | -1.45 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.70 Bid-YTW : 7.30 % |
| MFC.PR.L | FixedReset Ins Non | -1.32 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.50 Bid-YTW : 6.30 % |
| TRP.PR.C | FixedReset Disc | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 17.52 Evaluated at bid price : 17.52 Bid-YTW : 5.18 % |
| SLF.PR.B | Deemed-Retractible | -1.06 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.50 Bid-YTW : 6.75 % |
| MFC.PR.K | FixedReset Ins Non | 1.47 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 22.78 Bid-YTW : 6.19 % |
| MFC.PR.F | FixedReset Ins Non | 1.47 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 18.58 Bid-YTW : 8.24 % |
| BAM.PF.F | FixedReset Disc | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 24.37 Evaluated at bid price : 24.76 Bid-YTW : 5.12 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.K | FixedReset Disc | 207,708 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 23.13 Evaluated at bid price : 24.94 Bid-YTW : 4.75 % |
| BNS.PR.G | FixedReset Prem | 153,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-07-25 Maturity Price : 25.00 Evaluated at bid price : 26.42 Bid-YTW : 3.69 % |
| BIP.PR.F | FixedReset Disc | 72,935 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 23.15 Evaluated at bid price : 25.01 Bid-YTW : 5.07 % |
| BAM.PF.A | FixedReset Prem | 49,584 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 23.67 Evaluated at bid price : 24.75 Bid-YTW : 5.16 % |
| RY.PR.J | FixedReset Disc | 42,414 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 24.08 Evaluated at bid price : 24.41 Bid-YTW : 5.01 % |
| CM.PR.S | FixedReset Disc | 20,676 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2048-09-14 Maturity Price : 22.92 Evaluated at bid price : 24.22 Bid-YTW : 4.78 % |
| There were 4 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| SLF.PR.H | FixedReset Ins Non | Quote: 20.46 – 22.35 Spot Rate : 1.8900 Average : 1.1300 YTW SCENARIO |
| BAM.PR.Z | FixedReset Disc | Quote: 24.00 – 25.00 Spot Rate : 1.0000 Average : 0.5425 YTW SCENARIO |
| GWO.PR.L | Deemed-Retractible | Quote: 25.59 – 26.59 Spot Rate : 1.0000 Average : 0.5451 YTW SCENARIO |
| MFC.PR.I | FixedReset Ins Non | Quote: 23.85 – 24.85 Spot Rate : 1.0000 Average : 0.5499 YTW SCENARIO |
| CU.PR.D | Perpetual-Discount | Quote: 22.00 – 23.05 Spot Rate : 1.0500 Average : 0.6054 YTW SCENARIO |
| SLF.PR.D | Deemed-Retractible | Quote: 20.44 – 21.44 Spot Rate : 1.0000 Average : 0.5713 YTW SCENARIO |