|Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version. In this version, index values are based at 1,000.0 on 2006-6-30|
|Index||Mean Current Yield (at bid)||Mean YTW||Mean Average Trading Value||Mean Mod Dur (YTW)||Issues||Day’s Perf.||Index Value|
|Major Price Changes|
|FFN.PR.A||SplitShare||-1.5109%||May be extending term soon, which will be really good for the issue’s fundamentals as long as there is nothing horrible in the as-yet-unreleased details. Now with a pre-tax bid-YTW of 3.52% based on a bid of $10.43 and a hardMaturity 2009-12-1 at $10.00.|
|PWF.PR.F||PerpetualPremium||51,950||Now with a pre-tax bid-YTW of 4.47% based on a bid of 25.90 and a call 2010-12-30 at $25.00|
|RY.PR.F||PerpetualDiscount||32,681||Now with a pre-tax bid-YTW of 4.53% based on a bid of $24.68 and a limitMaturity.|
|GWO.PR.I||PerpetualDiscount||31,950||RBC crossed 25,000 at $25.00. Now with a pre-tax bid-YTW of 4.53% based on a bid of $24.87 and a limitMaturity.|
|CM.PR.J||PerpetualDiscount||23,245||Now with a pre-tax bid-YTW of 4.53% based on a bid of $24.81 and a limitMaturity.|
Kudos to TD, who crossed 50,000 CCS.PR.A, a Pfd-3 floater with the agonizing combination of fat coupon and current, long-standing, call. The volume-average is 324.5 shares per day. And, if truth be known, if it had sufficient credit quality & volume to index-included, it would be deemed a “PerpetualPremium” … the yield has a floor, which is now in operation [It pays 5.5%, NOT 90% of Canadian Prime.] and I refuse to call things floaters if they don’t actually float.
There were eleven other “$25 p.v. equivalent” index-included issues with over 10,000 shares traded today.
And that’s it for another month, quarter, and sixth full year of operation of MAPF.