The New York Fed released its Household Debt and Credit Report today:
The Quarterly Report on Household Debt and Credit for the first quarter of 2022 shows a solid increase in total household debt of $266 billion, to $15.84 trillion. Balances now stand $1.7 trillion higher than at the end of 2019, before the COVID-19 pandemic. Mortgage and auto loan balances rose by $250 billion and $11 billion, respectively, in the quarter, although originations for both subsided from historically high levels in 2021. Credit card balances declined by $15 billion, in line with seasonal trends typically seen at the start of the year, but are still $71 billion higher than in 2021:Q1, representing a substantial year-over-year increase.
| 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 | 3.81 % | 4.46 % | 22,237 | 18.45 | 1 | 0.0000 % | 2,571.3 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -1.1122 % | 4,804.2 |
| Floater | 4.29 % | 4.33 % | 48,835 | 16.71 | 3 | -1.1122 % | 2,768.7 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0485 % | 3,504.2 |
| SplitShare | 4.85 % | 5.45 % | 38,069 | 3.28 | 8 | -0.0485 % | 4,184.7 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0485 % | 3,265.1 |
| Perpetual-Premium | 5.94 % | 5.98 % | 63,251 | 13.92 | 1 | 0.0805 % | 2,940.5 |
| Perpetual-Discount | 5.82 % | 5.91 % | 65,583 | 14.02 | 35 | 1.3200 % | 3,192.3 |
| FixedReset Disc | 4.65 % | 6.09 % | 130,009 | 14.00 | 59 | 1.4900 % | 2,494.7 |
| Insurance Straight | 5.74 % | 5.81 % | 101,681 | 14.14 | 20 | 0.5387 % | 3,127.6 |
| FloatingReset | 4.84 % | 5.15 % | 65,930 | 15.20 | 2 | -0.9390 % | 2,568.9 |
| FixedReset Prem | 5.11 % | 5.41 % | 135,810 | 2.09 | 9 | -0.2183 % | 2,582.5 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.4900 % | 2,550.1 |
| FixedReset Ins Non | 4.57 % | 6.03 % | 84,295 | 13.89 | 15 | 0.2389 % | 2,626.0 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BIP.PR.F | FixedReset Prem | -2.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 23.84 Evaluated at bid price : 24.20 Bid-YTW : 5.97 % |
| CU.PR.G | Perpetual-Discount | -2.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 5.83 % |
| BAM.PF.G | FixedReset Disc | -2.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 6.84 % |
| TRP.PR.F | FloatingReset | -1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 16.30 Evaluated at bid price : 16.30 Bid-YTW : 5.15 % |
| TD.PF.D | FixedReset Disc | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.97 Evaluated at bid price : 20.97 Bid-YTW : 6.17 % |
| PVS.PR.G | SplitShare | -1.41 % | YTW SCENARIO Maturity Type : Option Certainty Maturity Date : 2026-02-28 Maturity Price : 25.00 Evaluated at bid price : 24.40 Bid-YTW : 5.90 % |
| BAM.PR.B | Floater | -1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 13.01 Evaluated at bid price : 13.01 Bid-YTW : 4.35 % |
| BAM.PR.K | Floater | -1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 13.06 Evaluated at bid price : 13.06 Bid-YTW : 4.33 % |
| PVS.PR.J | SplitShare | 1.07 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 23.70 Bid-YTW : 5.65 % |
| RY.PR.S | FixedReset Disc | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.98 Evaluated at bid price : 23.35 Bid-YTW : 5.56 % |
| GWO.PR.S | Insurance Straight | 1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.19 Evaluated at bid price : 22.60 Bid-YTW : 5.87 % |
| TRP.PR.A | FixedReset Disc | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 16.37 Evaluated at bid price : 16.37 Bid-YTW : 7.06 % |
| TD.PF.C | FixedReset Disc | 1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 5.97 % |
| POW.PR.D | Perpetual-Discount | 1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 5.93 % |
| BNS.PR.I | FixedReset Disc | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.97 Evaluated at bid price : 23.36 Bid-YTW : 5.65 % |
| SLF.PR.D | Insurance Straight | 1.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 19.90 Evaluated at bid price : 19.90 Bid-YTW : 5.67 % |
| RY.PR.H | FixedReset Disc | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.88 Evaluated at bid price : 20.88 Bid-YTW : 5.92 % |
| NA.PR.E | FixedReset Disc | 2.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.15 Evaluated at bid price : 22.85 Bid-YTW : 5.90 % |
| NA.PR.S | FixedReset Disc | 2.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.12 % |
| CM.PR.O | FixedReset Disc | 2.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.50 Evaluated at bid price : 20.50 Bid-YTW : 6.11 % |
| CM.PR.P | FixedReset Disc | 2.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.45 Evaluated at bid price : 20.45 Bid-YTW : 6.03 % |
| TD.PF.B | FixedReset Disc | 2.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 6.02 % |
| TD.PF.A | FixedReset Disc | 2.70 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.55 Evaluated at bid price : 20.55 Bid-YTW : 5.97 % |
| BMO.PR.W | FixedReset Disc | 2.74 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.96 % |
| BIP.PR.A | FixedReset Disc | 3.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.27 Evaluated at bid price : 22.75 Bid-YTW : 6.58 % |
| IFC.PR.E | Insurance Straight | 3.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.45 Evaluated at bid price : 22.80 Bid-YTW : 5.77 % |
| BMO.PR.Y | FixedReset Disc | 4.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.93 Evaluated at bid price : 20.93 Bid-YTW : 6.08 % |
| NA.PR.G | FixedReset Disc | 4.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 23.22 Evaluated at bid price : 23.65 Bid-YTW : 5.90 % |
| NA.PR.W | FixedReset Disc | 6.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.15 Evaluated at bid price : 20.15 Bid-YTW : 6.11 % |
| BAM.PR.Z | FixedReset Disc | 8.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 21.84 Evaluated at bid price : 22.33 Bid-YTW : 6.55 % |
| TRP.PR.G | FixedReset Disc | 64.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.20 Evaluated at bid price : 20.20 Bid-YTW : 6.50 % |
| CIU.PR.A | Perpetual-Discount | 92.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 5.91 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.B | FixedReset Disc | 38,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 6.02 % |
| TRP.PR.C | FixedReset Disc | 34,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 13.51 Evaluated at bid price : 13.51 Bid-YTW : 7.10 % |
| MIC.PR.A | Perpetual-Discount | 28,531 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.06 Evaluated at bid price : 22.35 Bid-YTW : 6.12 % |
| TRP.PR.E | FixedReset Disc | 21,745 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 18.05 Evaluated at bid price : 18.05 Bid-YTW : 6.96 % |
| GWO.PR.M | Insurance Straight | 18,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 24.09 Evaluated at bid price : 24.35 Bid-YTW : 6.03 % |
| MFC.PR.J | FixedReset Ins Non | 17,376 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2052-05-10 Maturity Price : 22.85 Evaluated at bid price : 23.45 Bid-YTW : 5.86 % |
| There were 3 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.C | Insurance Straight | Quote: 19.85 – 21.80 Spot Rate : 1.9500 Average : 1.3746 YTW SCENARIO |
| TD.PF.D | FixedReset Disc | Quote: 20.97 – 22.80 Spot Rate : 1.8300 Average : 1.2798 YTW SCENARIO |
| CU.PR.G | Perpetual-Discount | Quote: 19.35 – 20.99 Spot Rate : 1.6400 Average : 1.1190 YTW SCENARIO |
| NA.PR.S | FixedReset Disc | Quote: 21.00 – 23.00 Spot Rate : 2.0000 Average : 1.5427 YTW SCENARIO |
| BAM.PR.C | Floater | Quote: 13.05 – 14.00 Spot Rate : 0.9500 Average : 0.6054 YTW SCENARIO |
| MFC.PR.N | FixedReset Ins Non | Quote: 19.85 – 21.25 Spot Rate : 1.4000 Average : 1.0888 YTW SCENARIO |