The results of 25 years of Malachite Aggressive Preferred Fund vs. the S&P/TSX Composite Index (“TSX”) Annualized Return to the second quarter of each year is now available at Malachite Aggressive Preferred Fund – Annualized Performance to Second Quarter Vs. S&P/TSX Composite Index.
See the initial post in this series for discussion.
| 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 | 0.5405 % | 2,646.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.5405 % | 4,983.7 |
| Floater | 5.46 % | 5.57 % | 36,078 | 14.56 | 3 | 0.5405 % | 2,872.1 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0871 % | 3,640.8 |
| SplitShare | 4.79 % | 4.96 % | 62,470 | 2.64 | 5 | 0.0871 % | 4,347.9 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0871 % | 3,392.4 |
| Perpetual-Premium | 5.66 % | -5.90 % | 55,571 | 0.09 | 7 | 0.0844 % | 3,093.0 |
| Perpetual-Discount | 5.50 % | 5.57 % | 41,863 | 14.52 | 27 | -0.1435 % | 3,432.5 |
| FixedReset Disc | 5.60 % | 5.87 % | 98,142 | 13.95 | 19 | -0.1854 % | 3,397.4 |
| Insurance Straight | 5.34 % | 5.38 % | 48,354 | 14.77 | 20 | 0.3461 % | 3,369.4 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1854 % | 4,148.3 |
| FixedReset Prem | 5.88 % | 4.38 % | 79,719 | 2.24 | 29 | -0.2753 % | 2,671.5 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1854 % | 3,472.9 |
| FixedReset Ins Non | 5.17 % | 4.52 % | 56,058 | 1.99 | 14 | 0.9150 % | 3,302.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| ENB.PF.E | FixedReset Disc | -4.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 22.61 Evaluated at bid price : 23.46 Bid-YTW : 6.19 % |
| CU.PR.C | FixedReset Prem | -2.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 24.63 Evaluated at bid price : 25.00 Bid-YTW : 5.65 % |
| PWF.PR.S | Perpetual-Discount | -1.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 21.33 Evaluated at bid price : 21.60 Bid-YTW : 5.57 % |
| NA.PR.E | FixedReset Prem | -1.70 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-05-15 Maturity Price : 25.00 Evaluated at bid price : 25.95 Bid-YTW : 3.48 % |
| BN.PF.F | FixedReset Prem | -1.60 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-10-01 Maturity Price : 25.00 Evaluated at bid price : 25.14 Bid-YTW : 5.83 % |
| PWF.PR.Z | Perpetual-Discount | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 22.72 Evaluated at bid price : 23.01 Bid-YTW : 5.61 % |
| FTS.PR.J | Perpetual-Discount | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 22.82 Evaluated at bid price : 23.10 Bid-YTW : 5.21 % |
| PWF.PR.P | FixedReset Disc | 1.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 21.44 Evaluated at bid price : 21.71 Bid-YTW : 5.48 % |
| MFC.PR.N | FixedReset Ins Non | 1.94 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2030-03-20 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 5.12 % |
| SLF.PR.D | Insurance Straight | 2.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 21.97 Evaluated at bid price : 22.20 Bid-YTW : 5.05 % |
| GWO.PR.H | Insurance Straight | 2.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 22.12 Evaluated at bid price : 22.40 Bid-YTW : 5.46 % |
| IFC.PR.A | FixedReset Ins Non | 3.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 23.05 Evaluated at bid price : 23.50 Bid-YTW : 5.26 % |
| MFC.PR.K | FixedReset Ins Non | 3.53 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-19 Maturity Price : 25.00 Evaluated at bid price : 26.11 Bid-YTW : 4.52 % |
| MFC.PR.J | FixedReset Ins Non | 4.23 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-03-19 Maturity Price : 25.00 Evaluated at bid price : 25.87 Bid-YTW : 4.39 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| RY.PR.S | FixedReset Prem | 15,682 | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-02-24 Maturity Price : 25.00 Evaluated at bid price : 26.91 Bid-YTW : 2.63 % |
| PVS.PR.K | SplitShare | 14,000 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2029-05-31 Maturity Price : 25.00 Evaluated at bid price : 25.11 Bid-YTW : 4.54 % |
| MFC.PR.C | Insurance Straight | 12,841 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 21.81 Evaluated at bid price : 22.05 Bid-YTW : 5.15 % |
| ENB.PR.F | FixedReset Disc | 12,535 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-28 Maturity Price : 23.76 Evaluated at bid price : 24.10 Bid-YTW : 5.99 % |
| There were 0 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| ENB.PF.E | FixedReset Disc | Quote: 23.46 – 24.59 Spot Rate : 1.1300 Average : 0.7294 YTW SCENARIO |
| CU.PR.C | FixedReset Prem | Quote: 25.00 – 25.78 Spot Rate : 0.7800 Average : 0.5538 YTW SCENARIO |
| PWF.PR.Z | Perpetual-Discount | Quote: 23.01 – 23.58 Spot Rate : 0.5700 Average : 0.3965 YTW SCENARIO |
| BN.PF.F | FixedReset Prem | Quote: 25.14 – 25.80 Spot Rate : 0.6600 Average : 0.4989 YTW SCENARIO |
| POW.PR.B | Perpetual-Discount | Quote: 24.13 – 24.85 Spot Rate : 0.7200 Average : 0.5945 YTW SCENARIO |
| ENB.PR.F | FixedReset Disc | Quote: 24.10 – 24.62 Spot Rate : 0.5200 Average : 0.4030 YTW SCENARIO |
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| 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 | -0.0470 % | 2,632.2 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0470 % | 4,956.9 |
| Floater | 5.49 % | 5.59 % | 36,536 | 14.52 | 3 | -0.0470 % | 2,856.7 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0713 % | 3,637.6 |
| SplitShare | 4.79 % | 5.00 % | 64,534 | 2.64 | 5 | 0.0713 % | 4,344.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0713 % | 3,389.5 |
| Perpetual-Premium | 5.67 % | -3.73 % | 56,392 | 0.09 | 7 | -0.0955 % | 3,090.4 |
| Perpetual-Discount | 5.49 % | 5.53 % | 43,367 | 14.58 | 27 | 0.0495 % | 3,437.4 |
| FixedReset Disc | 5.59 % | 5.86 % | 98,101 | 13.97 | 19 | 0.6643 % | 3,403.8 |
| Insurance Straight | 5.35 % | 5.38 % | 48,774 | 14.72 | 20 | 0.2845 % | 3,357.8 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.6643 % | 4,156.0 |
| FixedReset Prem | 5.87 % | 4.27 % | 80,816 | 2.14 | 29 | 0.1870 % | 2,678.9 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.6643 % | 3,479.3 |
| FixedReset Ins Non | 5.22 % | 4.98 % | 57,819 | 3.07 | 14 | -0.0293 % | 3,272.6 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| IFC.PR.A | FixedReset Ins Non | -2.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 22.40 Evaluated at bid price : 22.81 Bid-YTW : 5.42 % |
| MFC.PR.K | FixedReset Ins Non | -1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 23.63 Evaluated at bid price : 25.22 Bid-YTW : 5.50 % |
| SLF.PR.E | Insurance Straight | -1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 21.65 Evaluated at bid price : 21.90 Bid-YTW : 5.18 % |
| NA.PR.K | FixedReset Prem | -1.26 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-05-01 Maturity Price : 25.00 Evaluated at bid price : 28.32 Bid-YTW : 2.63 % |
| BN.PF.A | FixedReset Prem | 1.44 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-30 Maturity Price : 25.00 Evaluated at bid price : 26.12 Bid-YTW : 4.83 % |
| FTS.PR.F | Perpetual-Discount | 1.44 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 23.64 Evaluated at bid price : 23.91 Bid-YTW : 5.19 % |
| MFC.PR.F | FixedReset Ins Non | 1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 21.50 Evaluated at bid price : 21.80 Bid-YTW : 5.35 % |
| BN.PF.F | FixedReset Prem | 1.63 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-10-01 Maturity Price : 25.00 Evaluated at bid price : 25.55 Bid-YTW : 5.25 % |
| GWO.PR.N | FixedReset Ins Non | 1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 5.39 % |
| PWF.PR.T | FixedReset Prem | 1.76 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.44 Bid-YTW : 4.84 % |
| PWF.PR.S | Perpetual-Discount | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 5.47 % |
| BN.PF.M | FixedReset Prem | 1.86 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2031-01-01 Maturity Price : 25.00 Evaluated at bid price : 26.25 Bid-YTW : 4.52 % |
| ENB.PR.P | FixedReset Disc | 2.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 23.42 Evaluated at bid price : 24.90 Bid-YTW : 5.79 % |
| ENB.PR.B | FixedReset Disc | 3.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 23.35 Evaluated at bid price : 23.95 Bid-YTW : 5.89 % |
| BN.PR.R | FixedReset Disc | 5.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 22.79 Evaluated at bid price : 24.02 Bid-YTW : 5.71 % |
| GWO.PR.Y | Insurance Straight | 6.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 5.37 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| SLF.PR.D | Insurance Straight | 45,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 21.35 Evaluated at bid price : 21.62 Bid-YTW : 5.19 % |
| PWF.PR.F | Perpetual-Discount | 45,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 23.48 Evaluated at bid price : 23.75 Bid-YTW : 5.54 % |
| BN.PF.M | FixedReset Prem | 19,100 | YTW SCENARIO Maturity Type : Call Maturity Date : 2031-01-01 Maturity Price : 25.00 Evaluated at bid price : 26.25 Bid-YTW : 4.52 % |
| PWF.PR.K | Perpetual-Discount | 18,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 22.10 Evaluated at bid price : 22.38 Bid-YTW : 5.55 % |
| ENB.PR.T | FixedReset Disc | 16,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-27 Maturity Price : 23.51 Evaluated at bid price : 25.30 Bid-YTW : 5.76 % |
| CM.PR.S | FixedReset Prem | 15,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.80 Bid-YTW : 3.66 % |
| There were 2 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| GWO.PR.T | Insurance Straight | Quote: 23.70 – 25.00 Spot Rate : 1.3000 Average : 0.7289 YTW SCENARIO |
| PWF.PR.H | Perpetual-Premium | Quote: 25.18 – 26.18 Spot Rate : 1.0000 Average : 0.5982 YTW SCENARIO |
| BN.PR.Z | FixedReset Prem | Quote: 25.60 – 26.60 Spot Rate : 1.0000 Average : 0.6754 YTW SCENARIO |
| MFC.PR.K | FixedReset Ins Non | Quote: 25.22 – 26.22 Spot Rate : 1.0000 Average : 0.7952 YTW SCENARIO |
| CCS.PR.C | Insurance Straight | Quote: 23.45 – 24.00 Spot Rate : 0.5500 Average : 0.3591 YTW SCENARIO |
| GWO.PR.I | Insurance Straight | Quote: 21.30 – 21.98 Spot Rate : 0.6800 Average : 0.4994 YTW SCENARIO |
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| 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 | -0.1642 % | 2,633.5 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1642 % | 4,959.2 |
| Floater | 5.49 % | 5.61 % | 35,999 | 14.50 | 3 | -0.1642 % | 2,858.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0952 % | 3,635.0 |
| SplitShare | 4.79 % | 4.99 % | 64,426 | 2.65 | 5 | 0.0952 % | 4,341.0 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0952 % | 3,387.0 |
| Perpetual-Premium | 5.66 % | -5.70 % | 56,230 | 0.09 | 7 | 0.0844 % | 3,093.4 |
| Perpetual-Discount | 5.50 % | 5.53 % | 43,388 | 14.57 | 27 | 0.2127 % | 3,435.7 |
| FixedReset Disc | 5.62 % | 5.86 % | 99,403 | 13.95 | 19 | -0.4754 % | 3,381.3 |
| Insurance Straight | 5.37 % | 5.42 % | 49,235 | 14.67 | 20 | -0.0151 % | 3,348.3 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4754 % | 4,128.6 |
| FixedReset Prem | 5.88 % | 4.27 % | 80,046 | 2.15 | 29 | -0.1126 % | 2,673.9 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4754 % | 3,456.4 |
| FixedReset Ins Non | 5.22 % | 5.11 % | 58,549 | 3.08 | 14 | -0.1990 % | 3,273.6 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| GWO.PR.Y | Insurance Straight | -5.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.69 % |
| MFC.PR.J | FixedReset Ins Non | -5.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.61 Evaluated at bid price : 24.82 Bid-YTW : 5.90 % |
| BN.PR.R | FixedReset Disc | -4.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 22.20 Evaluated at bid price : 22.86 Bid-YTW : 6.01 % |
| BN.PR.X | FixedReset Disc | -3.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 5.91 % |
| BN.PF.E | FixedReset Disc | -2.54 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 22.96 Evaluated at bid price : 24.17 Bid-YTW : 5.80 % |
| MFC.PR.K | FixedReset Ins Non | -2.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.75 Evaluated at bid price : 25.60 Bid-YTW : 5.38 % |
| BN.PF.A | FixedReset Prem | -1.72 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-30 Maturity Price : 25.00 Evaluated at bid price : 25.75 Bid-YTW : 5.52 % |
| PWF.PR.R | Perpetual-Discount | -1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 24.21 Evaluated at bid price : 24.50 Bid-YTW : 5.63 % |
| MFC.PR.N | FixedReset Ins Non | -1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.19 Evaluated at bid price : 24.72 Bid-YTW : 5.46 % |
| BN.PF.F | FixedReset Prem | -1.26 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-10-01 Maturity Price : 25.00 Evaluated at bid price : 25.14 Bid-YTW : 5.80 % |
| BN.PR.M | Perpetual-Discount | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 21.29 Evaluated at bid price : 21.29 Bid-YTW : 5.64 % |
| CU.PR.G | Perpetual-Discount | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 21.25 Evaluated at bid price : 21.25 Bid-YTW : 5.38 % |
| NA.PR.E | FixedReset Prem | 1.15 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-05-15 Maturity Price : 25.00 Evaluated at bid price : 26.35 Bid-YTW : 2.57 % |
| IFC.PR.K | Insurance Straight | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.96 Evaluated at bid price : 24.45 Bid-YTW : 5.40 % |
| GWO.PR.N | FixedReset Ins Non | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 5.46 % |
| SLF.PR.E | Insurance Straight | 1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 21.97 Evaluated at bid price : 22.20 Bid-YTW : 5.11 % |
| CU.PR.C | FixedReset Prem | 1.51 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-06-01 Maturity Price : 25.00 Evaluated at bid price : 25.50 Bid-YTW : 3.73 % |
| IFC.PR.I | Insurance Straight | 1.61 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 5.26 % |
| PWF.PR.A | Floater | 1.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 14.50 Evaluated at bid price : 14.50 Bid-YTW : 5.38 % |
| BN.PR.N | Perpetual-Discount | 1.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.59 % |
| PWF.PF.A | Perpetual-Discount | 1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 5.46 % |
| MFC.PR.L | FixedReset Ins Non | 2.48 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-06-20 Maturity Price : 25.00 Evaluated at bid price : 25.60 Bid-YTW : 5.11 % |
| IFC.PR.A | FixedReset Ins Non | 2.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 22.96 Evaluated at bid price : 23.40 Bid-YTW : 5.26 % |
| ENB.PF.E | FixedReset Disc | 4.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.04 Evaluated at bid price : 24.40 Bid-YTW : 5.90 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| ENB.PR.D | FixedReset Disc | 129,658 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.63 Evaluated at bid price : 24.02 Bid-YTW : 5.84 % |
| ENB.PR.F | FixedReset Disc | 109,151 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.38 Evaluated at bid price : 24.40 Bid-YTW : 5.86 % |
| ENB.PR.N | FixedReset Prem | 57,303 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 23.73 Evaluated at bid price : 25.72 Bid-YTW : 5.81 % |
| BN.PF.D | Perpetual-Discount | 50,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 21.49 Evaluated at bid price : 21.75 Bid-YTW : 5.68 % |
| PWF.PR.E | Perpetual-Discount | 25,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-24 Maturity Price : 24.46 Evaluated at bid price : 24.70 Bid-YTW : 5.58 % |
| BN.PF.M | FixedReset Prem | 20,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2031-01-01 Maturity Price : 25.00 Evaluated at bid price : 25.77 Bid-YTW : 4.99 % |
| There were 4 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| GWO.PR.Y | Insurance Straight | Quote: 20.00 – 21.30 Spot Rate : 1.3000 Average : 0.7635 YTW SCENARIO |
| BN.PR.R | FixedReset Disc | Quote: 22.86 – 24.10 Spot Rate : 1.2400 Average : 0.7806 YTW SCENARIO |
| MFC.PR.J | FixedReset Ins Non | Quote: 24.82 – 26.30 Spot Rate : 1.4800 Average : 1.0858 YTW SCENARIO |
| BN.PR.X | FixedReset Disc | Quote: 21.20 – 21.93 Spot Rate : 0.7300 Average : 0.4455 YTW SCENARIO |
| GWO.PR.Q | Insurance Straight | Quote: 23.50 – 24.08 Spot Rate : 0.5800 Average : 0.3692 YTW SCENARIO |
| BN.PF.E | FixedReset Disc | Quote: 24.17 – 24.80 Spot Rate : 0.6300 Average : 0.4199 YTW SCENARIO |
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| 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 | 0.0469 % | 2,637.8 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0469 % | 4,967.3 |
| Floater | 5.48 % | 5.60 % | 37,455 | 14.52 | 3 | 0.0469 % | 2,862.7 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0159 % | 3,631.6 |
| SplitShare | 4.80 % | 4.99 % | 63,806 | 2.65 | 5 | -0.0159 % | 4,336.9 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0159 % | 3,383.8 |
| Perpetual-Premium | 5.67 % | -5.38 % | 56,581 | 0.09 | 7 | -0.0056 % | 3,090.8 |
| Perpetual-Discount | 5.51 % | 5.54 % | 44,619 | 14.60 | 27 | -0.2058 % | 3,428.4 |
| FixedReset Disc | 5.60 % | 5.84 % | 99,924 | 13.97 | 19 | -0.1215 % | 3,397.4 |
| Insurance Straight | 5.37 % | 5.45 % | 48,561 | 14.67 | 20 | 0.0172 % | 3,348.8 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1215 % | 4,148.3 |
| FixedReset Prem | 5.87 % | 4.34 % | 79,205 | 2.15 | 29 | 0.1194 % | 2,676.9 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1215 % | 3,472.9 |
| FixedReset Ins Non | 5.20 % | 4.76 % | 56,118 | 2.01 | 14 | 0.4408 % | 3,280.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| MFC.PR.L | FixedReset Ins Non | -2.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 23.39 Evaluated at bid price : 24.98 Bid-YTW : 5.41 % |
| ENB.PR.P | FixedReset Disc | -2.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 23.20 Evaluated at bid price : 24.35 Bid-YTW : 5.92 % |
| PWF.PF.A | Perpetual-Discount | -2.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 5.57 % |
| GWO.PR.N | FixedReset Ins Non | -1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.53 % |
| BN.PF.M | FixedReset Prem | -1.64 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2031-01-01 Maturity Price : 25.00 Evaluated at bid price : 25.77 Bid-YTW : 4.99 % |
| CU.PR.C | FixedReset Prem | -1.49 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-06-01 Maturity Price : 25.00 Evaluated at bid price : 25.12 Bid-YTW : 5.55 % |
| IFC.PR.K | Insurance Straight | -1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 23.70 Evaluated at bid price : 24.17 Bid-YTW : 5.46 % |
| BN.PR.T | FixedReset Disc | -1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 22.33 Evaluated at bid price : 23.15 Bid-YTW : 5.86 % |
| NA.PR.E | FixedReset Prem | -1.14 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-05-15 Maturity Price : 25.00 Evaluated at bid price : 26.05 Bid-YTW : 3.23 % |
| ELF.PR.H | Perpetual-Discount | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 24.00 Evaluated at bid price : 24.25 Bid-YTW : 5.70 % |
| ENB.PR.N | FixedReset Prem | 1.06 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-12-01 Maturity Price : 25.00 Evaluated at bid price : 25.85 Bid-YTW : 5.61 % |
| RY.PR.S | FixedReset Prem | 1.26 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-02-24 Maturity Price : 25.00 Evaluated at bid price : 27.25 Bid-YTW : 2.66 % |
| GWO.PR.T | Insurance Straight | 1.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 23.41 Evaluated at bid price : 23.70 Bid-YTW : 5.48 % |
| MFC.PR.N | FixedReset Ins Non | 1.33 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2030-03-20 Maturity Price : 25.00 Evaluated at bid price : 25.05 Bid-YTW : 5.29 % |
| MFC.PR.I | FixedReset Ins Non | 1.64 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-09-19 Maturity Price : 25.00 Evaluated at bid price : 26.00 Bid-YTW : 2.95 % |
| MFC.PR.K | FixedReset Ins Non | 2.54 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-19 Maturity Price : 25.00 Evaluated at bid price : 26.25 Bid-YTW : 4.22 % |
| BIP.PR.F | FixedReset Prem | 2.57 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-01-01 Maturity Price : 25.00 Evaluated at bid price : 26.31 Bid-YTW : 4.35 % |
| MFC.PR.J | FixedReset Ins Non | 5.36 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-03-19 Maturity Price : 25.00 Evaluated at bid price : 26.15 Bid-YTW : 3.66 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| FTS.PR.M | FixedReset Prem | 53,725 | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-12-01 Maturity Price : 25.00 Evaluated at bid price : 25.35 Bid-YTW : 5.32 % |
| GWO.PR.P | Insurance Straight | 47,750 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 24.21 Evaluated at bid price : 24.50 Bid-YTW : 5.56 % |
| POW.PR.D | Perpetual-Discount | 45,375 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 22.71 Evaluated at bid price : 23.00 Bid-YTW : 5.46 % |
| IFC.PR.I | Insurance Straight | 42,690 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 24.28 Evaluated at bid price : 24.80 Bid-YTW : 5.47 % |
| MIC.PR.A | Perpetual-Discount | 40,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 23.33 Evaluated at bid price : 23.60 Bid-YTW : 5.77 % |
| CU.PR.E | Perpetual-Discount | 30,662 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-23 Maturity Price : 22.39 Evaluated at bid price : 22.65 Bid-YTW : 5.48 % |
| There were 15 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| GWO.PR.N | FixedReset Ins Non | Quote: 20.00 – 21.30 Spot Rate : 1.3000 Average : 0.8655 YTW SCENARIO |
| PWF.PR.T | FixedReset Prem | Quote: 25.00 – 26.00 Spot Rate : 1.0000 Average : 0.6106 YTW SCENARIO |
| MFC.PR.L | FixedReset Ins Non | Quote: 24.98 – 25.97 Spot Rate : 0.9900 Average : 0.7023 YTW SCENARIO |
| PWF.PF.A | Perpetual-Discount | Quote: 20.30 – 20.92 Spot Rate : 0.6200 Average : 0.3946 YTW SCENARIO |
| ENB.PR.P | FixedReset Disc | Quote: 24.35 – 24.97 Spot Rate : 0.6200 Average : 0.4316 YTW SCENARIO |
| ENB.PF.E | FixedReset Disc | Quote: 23.46 – 24.55 Spot Rate : 1.0900 Average : 0.9360 YTW SCENARIO |
Here’s a shout-out to the New Orleans Seafood and Steakhouse where I had a friendly dinner tonight. This one’s going on my list, for sure!
PerpetualDiscounts now yield 5.54%, equivalent to 7.20% interest at the standard conversion factor of 1.3x. Long corporates yielded 5.13% on 2026-07-22. Therefore the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) has narrowed sharply to 205bp from the 220bp reported July 15.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| 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 | -0.3740 % | 2,636.5 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3740 % | 4,965.0 |
| Floater | 5.48 % | 5.60 % | 37,552 | 14.52 | 3 | -0.3740 % | 2,861.4 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0793 % | 3,632.2 |
| SplitShare | 4.80 % | 4.99 % | 63,379 | 2.65 | 5 | 0.0793 % | 4,337.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0793 % | 3,384.4 |
| Perpetual-Premium | 5.67 % | -7.94 % | 57,094 | 0.09 | 7 | 0.1464 % | 3,090.9 |
| Perpetual-Discount | 5.50 % | 5.54 % | 42,668 | 14.60 | 27 | 0.2560 % | 3,435.5 |
| FixedReset Disc | 5.59 % | 5.80 % | 103,271 | 14.02 | 19 | 0.0243 % | 3,401.6 |
| Insurance Straight | 5.37 % | 5.44 % | 48,389 | 14.71 | 20 | 0.0712 % | 3,348.2 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0243 % | 4,153.4 |
| FixedReset Prem | 5.88 % | 4.36 % | 79,164 | 2.16 | 29 | 0.1488 % | 2,673.7 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0243 % | 3,477.1 |
| FixedReset Ins Non | 5.23 % | 5.04 % | 55,140 | 3.09 | 14 | 0.0794 % | 3,265.7 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| ENB.PF.E | FixedReset Disc | -4.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 22.61 Evaluated at bid price : 23.46 Bid-YTW : 6.17 % |
| MFC.PR.K | FixedReset Ins Non | -2.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 23.74 Evaluated at bid price : 25.60 Bid-YTW : 5.37 % |
| MFC.PR.B | Insurance Straight | -1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 22.69 Evaluated at bid price : 22.93 Bid-YTW : 5.12 % |
| PWF.PR.A | Floater | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 14.50 Evaluated at bid price : 14.50 Bid-YTW : 5.47 % |
| ELF.PR.H | Perpetual-Discount | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 24.21 Evaluated at bid price : 24.50 Bid-YTW : 5.64 % |
| NA.PR.E | FixedReset Prem | 1.15 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-05-15 Maturity Price : 25.00 Evaluated at bid price : 26.35 Bid-YTW : 2.56 % |
| BN.PR.T | FixedReset Disc | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 22.77 Evaluated at bid price : 23.42 Bid-YTW : 5.80 % |
| FTS.PR.F | Perpetual-Discount | 1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 23.58 Evaluated at bid price : 23.85 Bid-YTW : 5.20 % |
| BN.PF.D | Perpetual-Discount | 1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 21.70 Evaluated at bid price : 21.95 Bid-YTW : 5.63 % |
| BN.PF.A | FixedReset Prem | 1.24 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-30 Maturity Price : 25.00 Evaluated at bid price : 26.20 Bid-YTW : 4.64 % |
| IFC.PR.F | Insurance Straight | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 24.20 Evaluated at bid price : 24.50 Bid-YTW : 5.45 % |
| BN.PF.M | FixedReset Prem | 1.31 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2031-01-01 Maturity Price : 25.00 Evaluated at bid price : 26.20 Bid-YTW : 4.55 % |
| IFC.PR.K | Insurance Straight | 1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 24.01 Evaluated at bid price : 24.50 Bid-YTW : 5.39 % |
| MFC.PR.C | Insurance Straight | 1.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 21.78 Evaluated at bid price : 22.02 Bid-YTW : 5.16 % |
| GWO.PR.N | FixedReset Ins Non | 1.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 5.43 % |
| ENB.PR.P | FixedReset Disc | 2.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 23.43 Evaluated at bid price : 24.95 Bid-YTW : 5.75 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MIC.PR.A | Perpetual-Discount | 200,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 23.32 Evaluated at bid price : 23.70 Bid-YTW : 5.74 % |
| BN.PF.A | FixedReset Prem | 53,800 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-30 Maturity Price : 25.00 Evaluated at bid price : 26.20 Bid-YTW : 4.64 % |
| CU.PR.J | Perpetual-Discount | 38,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 21.66 Evaluated at bid price : 22.01 Bid-YTW : 5.46 % |
| GWO.PF.A | Perpetual-Premium | 25,935 | YTW SCENARIO Maturity Type : Call Maturity Date : 2035-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.17 Bid-YTW : 5.71 % |
| PWF.PF.A | Perpetual-Discount | 11,915 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 20.80 Evaluated at bid price : 20.80 Bid-YTW : 5.44 % |
| ENB.PF.E | FixedReset Disc | 10,150 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-22 Maturity Price : 22.61 Evaluated at bid price : 23.46 Bid-YTW : 6.17 % |
| There were 0 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| NA.PR.K | FixedReset Prem | Quote: 29.00 – 30.00 Spot Rate : 1.0000 Average : 0.6384 YTW SCENARIO |
| ENB.PF.E | FixedReset Disc | Quote: 23.46 – 24.55 Spot Rate : 1.0900 Average : 0.7671 YTW SCENARIO |
| BN.PF.C | Perpetual-Discount | Quote: 21.71 – 22.22 Spot Rate : 0.5100 Average : 0.3228 YTW SCENARIO |
| BN.PF.G | FixedReset Prem | Quote: 25.08 – 25.59 Spot Rate : 0.5100 Average : 0.3666 YTW SCENARIO |
| IFC.PR.I | Insurance Straight | Quote: 24.80 – 25.75 Spot Rate : 0.9500 Average : 0.8513 YTW SCENARIO |
| FTS.PR.G | FixedReset Prem | Quote: 25.40 – 25.66 Spot Rate : 0.2600 Average : 0.1665 YTW SCENARIO |
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| 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 | 0.4933 % | 2,646.4 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4933 % | 4,983.7 |
| Floater | 5.46 % | 5.58 % | 38,122 | 14.55 | 3 | 0.4933 % | 2,872.1 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0476 % | 3,629.3 |
| SplitShare | 4.80 % | 5.00 % | 64,610 | 2.66 | 5 | -0.0476 % | 4,334.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0476 % | 3,381.7 |
| Perpetual-Premium | 5.67 % | -5.79 % | 59,111 | 0.09 | 7 | 0.1184 % | 3,086.4 |
| Perpetual-Discount | 5.51 % | 5.52 % | 41,498 | 14.56 | 27 | 0.3339 % | 3,426.7 |
| FixedReset Disc | 5.59 % | 5.83 % | 104,158 | 14.03 | 19 | 0.2769 % | 3,400.7 |
| Insurance Straight | 5.37 % | 5.46 % | 48,206 | 14.64 | 20 | 0.3898 % | 3,345.8 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2769 % | 4,152.4 |
| FixedReset Prem | 5.89 % | 4.30 % | 80,252 | 2.16 | 29 | -0.2755 % | 2,669.7 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2769 % | 3,476.3 |
| FixedReset Ins Non | 5.23 % | 5.02 % | 55,914 | 2.66 | 14 | 0.2654 % | 3,263.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BIP.PR.F | FixedReset Prem | -3.02 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-01-01 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 5.48 % |
| IFC.PR.A | FixedReset Ins Non | -2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 22.41 Evaluated at bid price : 22.81 Bid-YTW : 5.40 % |
| ENB.PR.P | FixedReset Disc | -1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 23.19 Evaluated at bid price : 24.35 Bid-YTW : 5.92 % |
| NA.PR.E | FixedReset Prem | -1.55 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-05-15 Maturity Price : 25.00 Evaluated at bid price : 26.05 Bid-YTW : 3.22 % |
| PWF.PR.T | FixedReset Prem | -1.38 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 23.46 Evaluated at bid price : 25.00 Bid-YTW : 5.50 % |
| BN.PR.M | Perpetual-Discount | -1.27 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 5.70 % |
| GWO.PR.P | Insurance Straight | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 24.21 Evaluated at bid price : 24.50 Bid-YTW : 5.55 % |
| BN.PR.N | Perpetual-Discount | -1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 21.01 Evaluated at bid price : 21.01 Bid-YTW : 5.71 % |
| RY.PR.S | FixedReset Prem | -1.03 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-02-24 Maturity Price : 25.00 Evaluated at bid price : 26.91 Bid-YTW : 3.18 % |
| BN.PF.B | FixedReset Prem | -1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 23.53 Evaluated at bid price : 25.29 Bid-YTW : 5.78 % |
| PWF.PR.A | Floater | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 14.66 Evaluated at bid price : 14.66 Bid-YTW : 5.41 % |
| FTS.PR.J | Perpetual-Discount | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 22.60 Evaluated at bid price : 22.85 Bid-YTW : 5.26 % |
| GWO.PR.Y | Insurance Straight | 1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 5.36 % |
| BN.PF.C | Perpetual-Discount | 1.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 21.45 Evaluated at bid price : 21.71 Bid-YTW : 5.63 % |
| PWF.PR.Z | Perpetual-Discount | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 23.03 Evaluated at bid price : 23.30 Bid-YTW : 5.54 % |
| CU.PR.C | FixedReset Prem | 1.39 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-06-01 Maturity Price : 25.00 Evaluated at bid price : 25.50 Bid-YTW : 3.69 % |
| FTS.PR.H | FixedReset Disc | 1.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 20.28 Evaluated at bid price : 20.28 Bid-YTW : 5.66 % |
| BN.PR.R | FixedReset Disc | 1.74 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 22.77 Evaluated at bid price : 23.97 Bid-YTW : 5.70 % |
| PWF.PF.A | Perpetual-Discount | 1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 20.80 Evaluated at bid price : 20.80 Bid-YTW : 5.43 % |
| CU.PR.D | Perpetual-Discount | 2.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 22.33 Evaluated at bid price : 22.60 Bid-YTW : 5.49 % |
| MFC.PR.L | FixedReset Ins Non | 2.68 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-06-20 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 5.02 % |
| MFC.PR.K | FixedReset Ins Non | 2.75 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-19 Maturity Price : 25.00 Evaluated at bid price : 26.20 Bid-YTW : 4.30 % |
| SLF.PR.C | Insurance Straight | 3.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 21.94 Evaluated at bid price : 22.17 Bid-YTW : 5.05 % |
| ENB.PF.E | FixedReset Disc | 4.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 23.08 Evaluated at bid price : 24.50 Bid-YTW : 5.87 % |
| GWO.PR.G | Insurance Straight | 5.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 23.85 Evaluated at bid price : 24.10 Bid-YTW : 5.44 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BN.PF.A | FixedReset Prem | 135,500 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-30 Maturity Price : 25.00 Evaluated at bid price : 25.88 Bid-YTW : 5.25 % |
| FFH.PR.K | FixedReset Prem | 51,400 | YTW SCENARIO Maturity Type : Call Maturity Date : 2027-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.25 Bid-YTW : 4.02 % |
| SLF.PR.C | Insurance Straight | 30,315 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 21.94 Evaluated at bid price : 22.17 Bid-YTW : 5.05 % |
| ENB.PF.E | FixedReset Disc | 26,975 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 23.08 Evaluated at bid price : 24.50 Bid-YTW : 5.87 % |
| ENB.PR.Y | FixedReset Disc | 25,100 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-21 Maturity Price : 22.71 Evaluated at bid price : 23.50 Bid-YTW : 5.91 % |
| GWO.PF.A | Perpetual-Premium | 23,700 | YTW SCENARIO Maturity Type : Call Maturity Date : 2035-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 5.69 % |
| There were 5 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.J | FixedReset Ins Non | Quote: 24.82 – 26.30 Spot Rate : 1.4800 Average : 1.2449 YTW SCENARIO |
| ENB.PR.P | FixedReset Disc | Quote: 24.35 – 25.00 Spot Rate : 0.6500 Average : 0.4169 YTW SCENARIO |
| NA.PR.E | FixedReset Prem | Quote: 26.05 – 26.89 Spot Rate : 0.8400 Average : 0.6352 YTW SCENARIO |
| IFC.PR.A | FixedReset Ins Non | Quote: 22.81 – 23.81 Spot Rate : 1.0000 Average : 0.8330 YTW SCENARIO |
| BN.PF.B | FixedReset Prem | Quote: 25.29 – 26.00 Spot Rate : 0.7100 Average : 0.5656 YTW SCENARIO |
| BN.PF.D | Perpetual-Discount | Quote: 21.69 – 22.40 Spot Rate : 0.7100 Average : 0.5699 YTW SCENARIO |
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| 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 | -0.2811 % | 2,633.5 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2811 % | 4,959.2 |
| Floater | 5.49 % | 5.60 % | 37,956 | 14.52 | 3 | -0.2811 % | 2,858.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0555 % | 3,631.0 |
| SplitShare | 4.80 % | 4.63 % | 63,966 | 2.66 | 5 | -0.0555 % | 4,336.2 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0555 % | 3,383.3 |
| Perpetual-Premium | 5.68 % | -3.62 % | 59,828 | 0.09 | 7 | -0.0113 % | 3,082.8 |
| Perpetual-Discount | 5.53 % | 5.57 % | 42,773 | 14.54 | 27 | 0.0916 % | 3,415.3 |
| FixedReset Disc | 5.61 % | 5.81 % | 99,693 | 14.04 | 19 | 0.2376 % | 3,391.4 |
| Insurance Straight | 5.40 % | 5.46 % | 47,896 | 14.67 | 20 | 0.5904 % | 3,332.8 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2376 % | 4,140.9 |
| FixedReset Prem | 5.87 % | 4.35 % | 80,529 | 2.16 | 29 | 0.5166 % | 2,677.1 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2376 % | 3,466.7 |
| FixedReset Ins Non | 5.25 % | 5.28 % | 56,948 | 13.83 | 14 | 0.2454 % | 3,254.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| MFC.PR.J | FixedReset Ins Non | -3.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.61 Evaluated at bid price : 24.82 Bid-YTW : 5.89 % |
| ENB.PR.B | FixedReset Disc | -2.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.63 Evaluated at bid price : 23.20 Bid-YTW : 6.06 % |
| CU.PR.D | Perpetual-Discount | -2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 21.78 Evaluated at bid price : 22.03 Bid-YTW : 5.64 % |
| ENB.PF.E | FixedReset Disc | -1.76 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.61 Evaluated at bid price : 23.46 Bid-YTW : 6.16 % |
| MFC.PR.L | FixedReset Ins Non | -1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.39 Evaluated at bid price : 24.98 Bid-YTW : 5.40 % |
| FTS.PR.J | Perpetual-Discount | -1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.33 Evaluated at bid price : 22.60 Bid-YTW : 5.32 % |
| GWO.PR.H | Insurance Straight | -1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 21.55 Evaluated at bid price : 21.81 Bid-YTW : 5.60 % |
| CU.PR.G | Perpetual-Discount | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 21.01 Evaluated at bid price : 21.01 Bid-YTW : 5.44 % |
| BN.PF.B | FixedReset Prem | 1.03 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-04-01 Maturity Price : 25.00 Evaluated at bid price : 25.55 Bid-YTW : 5.42 % |
| IFC.PR.A | FixedReset Ins Non | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.85 Evaluated at bid price : 23.29 Bid-YTW : 5.28 % |
| NA.PR.K | FixedReset Prem | 1.05 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-05-01 Maturity Price : 25.00 Evaluated at bid price : 28.77 Bid-YTW : 2.64 % |
| SLF.PR.E | Insurance Straight | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 21.65 Evaluated at bid price : 21.90 Bid-YTW : 5.17 % |
| GWO.PR.I | Insurance Straight | 1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 21.22 Evaluated at bid price : 21.22 Bid-YTW : 5.36 % |
| FTS.PR.K | FixedReset Disc | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.48 Evaluated at bid price : 25.08 Bid-YTW : 5.24 % |
| SLF.PR.H | FixedReset Ins Non | 1.21 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2026-09-30 Maturity Price : 25.00 Evaluated at bid price : 25.10 Bid-YTW : 1.73 % |
| GWO.PR.G | Insurance Straight | 1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.49 Evaluated at bid price : 22.75 Bid-YTW : 5.76 % |
| PWF.PR.T | FixedReset Prem | 1.32 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.35 Bid-YTW : 4.95 % |
| NA.PR.E | FixedReset Prem | 1.57 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-05-15 Maturity Price : 25.00 Evaluated at bid price : 26.46 Bid-YTW : 2.31 % |
| GWO.PR.T | Insurance Straight | 1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.33 Evaluated at bid price : 23.62 Bid-YTW : 5.49 % |
| MFC.PR.M | FixedReset Ins Non | 1.66 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-12-20 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 4.88 % |
| GWO.PR.P | Insurance Straight | 1.68 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 24.56 Evaluated at bid price : 24.81 Bid-YTW : 5.48 % |
| MFC.PR.B | Insurance Straight | 1.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.93 Evaluated at bid price : 23.20 Bid-YTW : 5.05 % |
| ENB.PF.C | FixedReset Disc | 2.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.14 Evaluated at bid price : 24.57 Bid-YTW : 5.86 % |
| GWO.PR.Q | Insurance Straight | 2.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.27 Evaluated at bid price : 23.57 Bid-YTW : 5.50 % |
| BN.PR.R | FixedReset Disc | 3.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.58 Evaluated at bid price : 23.56 Bid-YTW : 5.81 % |
| BIP.PR.F | FixedReset Prem | 3.12 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2029-01-01 Maturity Price : 25.00 Evaluated at bid price : 26.45 Bid-YTW : 4.10 % |
| SLF.PR.G | FixedReset Ins Non | 4.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 21.14 Evaluated at bid price : 21.14 Bid-YTW : 5.38 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BN.PF.A | FixedReset Prem | 101,000 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-30 Maturity Price : 25.00 Evaluated at bid price : 25.88 Bid-YTW : 5.24 % |
| PWF.PR.F | Perpetual-Discount | 63,400 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.24 Evaluated at bid price : 23.54 Bid-YTW : 5.59 % |
| GWO.PF.A | Perpetual-Premium | 55,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 24.75 Evaluated at bid price : 25.15 Bid-YTW : 5.72 % |
| ENB.PR.Y | FixedReset Disc | 49,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.71 Evaluated at bid price : 23.50 Bid-YTW : 5.91 % |
| ENB.PF.E | FixedReset Disc | 41,300 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 22.61 Evaluated at bid price : 23.46 Bid-YTW : 6.16 % |
| ENB.PF.G | FixedReset Disc | 20,700 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-20 Maturity Price : 23.11 Evaluated at bid price : 24.65 Bid-YTW : 5.90 % |
| There were 2 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.J | FixedReset Ins Non | Quote: 24.82 – 26.23 Spot Rate : 1.4100 Average : 0.9871 YTW SCENARIO |
| ENB.PR.D | FixedReset Disc | Quote: 24.02 – 24.90 Spot Rate : 0.8800 Average : 0.5535 YTW SCENARIO |
| ENB.PF.E | FixedReset Disc | Quote: 23.46 – 24.59 Spot Rate : 1.1300 Average : 0.8332 YTW SCENARIO |
| CU.PR.D | Perpetual-Discount | Quote: 22.03 – 22.82 Spot Rate : 0.7900 Average : 0.5092 YTW SCENARIO |
| FTS.PR.J | Perpetual-Discount | Quote: 22.60 – 23.25 Spot Rate : 0.6500 Average : 0.4647 YTW SCENARIO |
| CU.PR.C | FixedReset Prem | Quote: 25.15 – 26.15 Spot Rate : 1.0000 Average : 0.8235 YTW SCENARIO |
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 October.
The TXPR price index set a new 52-week high of 722.55, smashing the old mark of 714.53 set yesterday. Volume was 2.79-million, more than double that of the second-highest volume of the past 20 trading days.
CPD matched its 52-week high of 14.27 set yesterday, on volume of 55,070 (consolidated: 2.57-million), above the median of the past 20 trading days.
ZPR set a new 52-week high of 13.03, beating the old mark of 13.00 set yesterday, on volume of 171,410 (consolidated: 485,870) highest by far of the past 20 trading days.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
|||||||
| 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 | -0.1404 % | 2,640.9 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1404 % | 4,973.2 |
| Floater | 5.47 % | 5.60 % | 38,385 | 14.53 | 3 | -0.1404 % | 2,866.1 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0635 % | 3,633.0 |
| SplitShare | 4.80 % | 4.91 % | 63,689 | 2.67 | 5 | 0.0635 % | 4,338.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0635 % | 3,385.2 |
| Perpetual-Premium | 5.68 % | -4.18 % | 60,557 | 0.09 | 7 | 0.1468 % | 3,083.1 |
| Perpetual-Discount | 5.53 % | 5.58 % | 43,251 | 14.53 | 27 | 0.1239 % | 3,412.2 |
| FixedReset Disc | 5.62 % | 5.79 % | 100,741 | 14.06 | 19 | 0.4058 % | 3,383.3 |
| Insurance Straight | 5.43 % | 5.48 % | 47,625 | 14.62 | 20 | -0.2521 % | 3,313.3 |
| FloatingReset | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4058 % | 4,131.1 |
| FixedReset Prem | 5.90 % | 4.49 % | 83,213 | 2.17 | 29 | -0.0266 % | 2,663.3 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.4058 % | 3,458.4 |
| FixedReset Ins Non | 5.26 % | 5.28 % | 56,186 | 14.41 | 14 | -0.3359 % | 3,246.5 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| GWO.PR.G | Insurance Straight | -6.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 22.19 Evaluated at bid price : 22.47 Bid-YTW : 5.83 % |
| SLF.PR.G | FixedReset Ins Non | -4.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 5.57 % |
| IFC.PR.I | Insurance Straight | -1.98 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 24.28 Evaluated at bid price : 24.80 Bid-YTW : 5.47 % |
| ENB.PF.E | FixedReset Disc | -1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 22.81 Evaluated at bid price : 23.88 Bid-YTW : 6.00 % |
| MFC.PR.J | FixedReset Ins Non | -1.20 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-03-19 Maturity Price : 25.00 Evaluated at bid price : 25.59 Bid-YTW : 5.01 % |
| IFC.PR.A | FixedReset Ins Non | -1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 22.63 Evaluated at bid price : 23.05 Bid-YTW : 5.28 % |
| GWO.PR.H | Insurance Straight | 1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 21.80 Evaluated at bid price : 22.04 Bid-YTW : 5.54 % |
| MFC.PR.F | FixedReset Ins Non | 1.76 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 21.37 Evaluated at bid price : 21.37 Bid-YTW : 5.41 % |
| ENB.PF.C | FixedReset Disc | 1.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 22.90 Evaluated at bid price : 24.02 Bid-YTW : 5.97 % |
| GWO.PR.Q | Insurance Straight | 2.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 22.72 Evaluated at bid price : 23.01 Bid-YTW : 5.64 % |
| MIC.PR.A | Perpetual-Discount | 2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 23.24 Evaluated at bid price : 23.50 Bid-YTW : 5.79 % |
| BN.PR.X | FixedReset Disc | 2.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 21.39 Evaluated at bid price : 21.70 Bid-YTW : 5.69 % |
| ENB.PR.B | FixedReset Disc | 3.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 23.31 Evaluated at bid price : 23.90 Bid-YTW : 5.82 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| CU.PR.J | Perpetual-Discount | 301,748 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 21.62 Evaluated at bid price : 21.62 Bid-YTW : 5.58 % |
| GWO.PF.A | Perpetual-Premium | 297,469 | YTW SCENARIO Maturity Type : Call Maturity Date : 2035-06-30 Maturity Price : 25.00 Evaluated at bid price : 25.20 Bid-YTW : 5.68 % |
| BN.PF.A | FixedReset Prem | 83,117 | YTW SCENARIO Maturity Type : Call Maturity Date : 2028-09-30 Maturity Price : 25.00 Evaluated at bid price : 25.88 Bid-YTW : 5.22 % |
| BN.PF.G | FixedReset Prem | 76,453 | YTW SCENARIO Maturity Type : Call Maturity Date : 2030-07-01 Maturity Price : 25.00 Evaluated at bid price : 25.29 Bid-YTW : 5.44 % |
| PWF.PR.S | Perpetual-Discount | 38,080 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 21.42 Evaluated at bid price : 21.68 Bid-YTW : 5.54 % |
| PWF.PR.F | Perpetual-Discount | 33,341 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2056-07-17 Maturity Price : 23.12 Evaluated at bid price : 23.38 Bid-YTW : 5.62 % |
| There were 43 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible. | ||
| Issue | Index | Quote Data and Yield Notes |
| PWF.PR.K | Perpetual-Discount | Quote: 22.24 – 24.75 Spot Rate : 2.5100 Average : 1.5335 YTW SCENARIO |
| GWO.PR.G | Insurance Straight | Quote: 22.47 – 24.80 Spot Rate : 2.3300 Average : 1.3765 YTW SCENARIO |
| BN.PR.N | Perpetual-Discount | Quote: 21.21 – 23.00 Spot Rate : 1.7900 Average : 0.9998 YTW SCENARIO |
| SLF.PR.G | FixedReset Ins Non | Quote: 20.25 – 21.70 Spot Rate : 1.4500 Average : 0.9286 YTW SCENARIO |
| BN.PF.D | Perpetual-Discount | Quote: 21.75 – 22.88 Spot Rate : 1.1300 Average : 0.6645 YTW SCENARIO |
| MFC.PR.M | FixedReset Ins Non | Quote: 25.23 – 26.35 Spot Rate : 1.1200 Average : 0.6617 YTW SCENARIO |
E&Y have analyzed Ontario tax rates as of 2026-6-15 and we may draw some conclusions from these data. I have changed the ‘Taxable Income’ amount for my three samples since my 2012 review:
| Investors | Taxable Income | Marginal Rate on Interest | Marginal Rate on Dividends | Equivalency Factor |
| Widows & Orphans | $30,000 | 19.05% | 0.00% | 1.23 |
| Professionals | $100,000 | 31.48% | 8.92% | 1.33 |
| Plutocrats | $200,000 | 48.26% | 32.08% | 1.31 |
The equivalency factor for widows & orphans has declined slightly but has increased for professionals and remained unchanged for plutocrats since my 2012 post on this topic
Two nuances should be noted. Firstly, E&Y appears to have possibly put a floor of 0.00% on the published marginal tax rate for dividends; in fact, the tax on dividends can be negative as of 2010 if the taxpayer has other income available to soak up the excess dividend tax credit. This will increase the equivalency factor for “Widows & Orphans”. I haven’t checked the current situation.
Secondly, if the taxpayer is subject to OAS clawback, the equivalency factor will decline by about 0.1 … as of 2006. Again, I have not checked the current situation. It should be noted that this figure is an extremely rough estimate and is based solely on the direct income tax effect – there may be other net-income-tested benefits to the taxpayer, such as drug plans, which will exacerbate the decline.