| 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 | -0.6040 % | 2,530.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.6040 % | 4,853.3 |
| Floater | 8.57 % | 8.67 % | 63,783 | 10.71 | 2 | -0.6040 % | 2,797.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2214 % | 3,341.2 |
| SplitShare | 5.03 % | 7.19 % | 61,045 | 2.84 | 7 | 0.2214 % | 3,990.2 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2214 % | 3,113.3 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1670 % | 2,805.9 |
| Perpetual-Discount | 6.07 % | 6.12 % | 92,141 | 13.74 | 35 | 0.1670 % | 3,059.7 |
| FixedReset Disc | 5.29 % | 6.94 % | 93,774 | 12.68 | 62 | -0.4180 % | 2,290.2 |
| Insurance Straight | 5.96 % | 6.07 % | 104,737 | 13.78 | 20 | 0.0265 % | 3,012.1 |
| FloatingReset | 9.66 % | 10.07 % | 42,307 | 9.49 | 2 | 0.1585 % | 2,564.8 |
| FixedReset Prem | 6.60 % | 6.20 % | 174,482 | 4.12 | 2 | 0.0397 % | 2,379.0 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4180 % | 2,341.1 |
| FixedReset Ins Non | 5.40 % | 6.79 % | 61,964 | 12.82 | 14 | -1.2297 % | 2,388.4 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| MFC.PR.M | FixedReset Ins Non | -8.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 7.70 % |
| SLF.PR.E | Insurance Straight | -6.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.26 Evaluated at bid price : 18.26 Bid-YTW : 6.23 % |
| CU.PR.F | Perpetual-Discount | -5.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 17.90 Evaluated at bid price : 17.90 Bid-YTW : 6.39 % |
| RY.PR.O | Perpetual-Discount | -2.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 21.77 Evaluated at bid price : 22.25 Bid-YTW : 5.57 % |
| BMO.PR.Y | FixedReset Disc | -2.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 19.35 Evaluated at bid price : 19.35 Bid-YTW : 6.90 % |
| IFC.PR.A | FixedReset Ins Non | -2.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 6.69 % |
| BMO.PR.T | FixedReset Disc | -2.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.28 Evaluated at bid price : 18.28 Bid-YTW : 7.06 % |
| PWF.PR.E | Perpetual-Discount | -2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 21.86 Evaluated at bid price : 22.10 Bid-YTW : 6.24 % |
| IFC.PR.C | FixedReset Disc | -2.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 7.01 % |
| MFC.PR.L | FixedReset Ins Non | -2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 17.15 Evaluated at bid price : 17.15 Bid-YTW : 7.45 % |
| MFC.PR.K | FixedReset Ins Non | -1.88 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.30 Evaluated at bid price : 18.30 Bid-YTW : 7.20 % |
| CU.PR.C | FixedReset Disc | -1.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 20.24 Evaluated at bid price : 20.24 Bid-YTW : 6.73 % |
| TRP.PR.G | FixedReset Disc | -1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 8.05 % |
| TRP.PR.D | FixedReset Disc | -1.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 16.34 Evaluated at bid price : 16.34 Bid-YTW : 8.10 % |
| TRP.PR.A | FixedReset Disc | -1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 14.70 Evaluated at bid price : 14.70 Bid-YTW : 8.14 % |
| TRP.PR.B | FixedReset Disc | -1.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 11.80 Evaluated at bid price : 11.80 Bid-YTW : 8.20 % |
| CM.PR.Q | FixedReset Disc | -1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 19.78 Evaluated at bid price : 19.78 Bid-YTW : 6.76 % |
| BN.PF.I | FixedReset Disc | -1.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 22.34 Evaluated at bid price : 23.02 Bid-YTW : 7.06 % |
| TD.PF.D | FixedReset Disc | -1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 20.10 Evaluated at bid price : 20.10 Bid-YTW : 6.72 % |
| IFC.PR.E | Insurance Straight | -1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 21.35 Evaluated at bid price : 21.35 Bid-YTW : 6.15 % |
| FTS.PR.M | FixedReset Disc | -1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 17.71 Evaluated at bid price : 17.71 Bid-YTW : 7.59 % |
| MFC.PR.N | FixedReset Ins Non | -1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 17.84 Evaluated at bid price : 17.84 Bid-YTW : 7.20 % |
| TD.PF.E | FixedReset Disc | -1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 20.34 Evaluated at bid price : 20.34 Bid-YTW : 6.68 % |
| BIK.PR.A | FixedReset Disc | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 24.33 Evaluated at bid price : 24.70 Bid-YTW : 7.03 % |
| GWO.PR.N | FixedReset Ins Non | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 12.35 Evaluated at bid price : 12.35 Bid-YTW : 7.73 % |
| TD.PF.C | FixedReset Disc | -1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.28 Evaluated at bid price : 18.28 Bid-YTW : 6.98 % |
| TRP.PR.E | FixedReset Disc | -1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 16.12 Evaluated at bid price : 16.12 Bid-YTW : 8.05 % |
| BN.PR.Z | FixedReset Disc | -1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 21.72 Evaluated at bid price : 22.11 Bid-YTW : 6.85 % |
| BN.PF.B | FixedReset Disc | -1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 17.65 Evaluated at bid price : 17.65 Bid-YTW : 7.95 % |
| BN.PR.M | Perpetual-Discount | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.99 Evaluated at bid price : 18.99 Bid-YTW : 6.32 % |
| SLF.PR.H | FixedReset Ins Non | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 16.07 Evaluated at bid price : 16.07 Bid-YTW : 7.28 % |
| PVS.PR.G | SplitShare | 1.07 % | YTW SCENARIO Maturity Type : Option Certainty Maturity Date : 2026-02-28 Maturity Price : 25.00 Evaluated at bid price : 23.60 Bid-YTW : 7.15 % |
| FTS.PR.J | Perpetual-Discount | 1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 20.23 Evaluated at bid price : 20.23 Bid-YTW : 5.96 % |
| BMO.PR.W | FixedReset Disc | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.65 Evaluated at bid price : 18.65 Bid-YTW : 6.90 % |
| MFC.PR.C | Insurance Straight | 1.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 5.75 % |
| PWF.PR.F | Perpetual-Discount | 1.70 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 6.13 % |
| FTS.PR.F | Perpetual-Discount | 1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 20.85 Evaluated at bid price : 20.85 Bid-YTW : 5.97 % |
| PWF.PR.L | Perpetual-Discount | 2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 21.09 Evaluated at bid price : 21.09 Bid-YTW : 6.07 % |
| GWO.PR.H | Insurance Straight | 4.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 6.03 % |
| CU.PR.H | Perpetual-Discount | 6.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 21.88 Evaluated at bid price : 22.35 Bid-YTW : 5.94 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| CM.PR.P | FixedReset Disc | 55,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 18.20 Evaluated at bid price : 18.20 Bid-YTW : 6.98 % |
| SLF.PR.G | FixedReset Ins Non | 45,434 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 13.30 Evaluated at bid price : 13.30 Bid-YTW : 7.56 % |
| RY.PR.J | FixedReset Disc | 26,286 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 6.80 % |
| CU.PR.I | FixedReset Disc | 22,812 | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-12-01 Maturity Price : 25.00 Evaluated at bid price : 24.52 Bid-YTW : 5.46 % |
| BN.PF.G | FixedReset Disc | 22,640 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 16.45 Evaluated at bid price : 16.45 Bid-YTW : 8.28 % |
| MFC.PR.I | FixedReset Ins Non | 22,526 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-01-13 Maturity Price : 22.43 Evaluated at bid price : 23.24 Bid-YTW : 6.39 % |
| There were 4 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| CM.PR.P | FixedReset Disc | Quote: 18.20 – 22.00 Spot Rate : 3.8000 Average : 2.4632 YTW SCENARIO |
| CCS.PR.C | Insurance Straight | Quote: 20.95 – 23.50 Spot Rate : 2.5500 Average : 1.5180 YTW SCENARIO |
| GWO.PR.Q | Insurance Straight | Quote: 21.15 – 23.90 Spot Rate : 2.7500 Average : 1.7620 YTW SCENARIO |
| SLF.PR.E | Insurance Straight | Quote: 18.26 – 20.15 Spot Rate : 1.8900 Average : 1.2613 YTW SCENARIO |
| MFC.PR.M | FixedReset Ins Non | Quote: 17.00 – 18.50 Spot Rate : 1.5000 Average : 1.1868 YTW SCENARIO |
| IFC.PR.K | Perpetual-Discount | Quote: 21.75 – 23.00 Spot Rate : 1.2500 Average : 0.9838 YTW SCENARIO |
Hi James,
When will you be publishing this month’s Prefletter?
Thx,
Farris
Tonight. It’s almost always sent late (Toronto time) on Sunday night.
It’s been sent!