Hurrah! 2007 is finally over!
Strong performance from the PerpetualDiscounts again, but all this is on relatively light volume. Santa brought me exactly what I asked for.
Happy New Year! Best Wishes for 2008!
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 |
Ratchet | 5.19% | 5.19% | 73,469 | 15.15 | 2 | 0.0000% | 1,059.2 |
Fixed-Floater | 4.89% | 5.15% | 85,409 | 15.30 | 8 | +0.1145% | 1,026.3 |
Floater | 5.82% | 5.84% | 139,591 | 14.13 | 2 | +1.0369% | 829.8 |
Op. Retract | 4.86% | 3.08% | 81,377 | 3.53 | 16 | +0.0657% | 1,039.6 |
Split-Share | 5.31% | 5.51% | 107,314 | 4.19 | 15 | +0.3585% | 1,029.6 |
Interest Bearing | 6.37% | 6.58% | 61,709 | 3.44 | 4 | -0.1262% | 1,058.4 |
Perpetual-Premium | 5.82% | 4.94% | 79,658 | 5.23 | 11 | +0.2505% | 1,018.6 |
Perpetual-Discount | 5.51% | 5.42% | 375,952 | 14.29 | 55 | +0.8340% | 928.1 |
Major Price Changes | |||
Issue | Index | Change | Notes |
BAM.PR.J | OpRet | -1.7686% | Now with a pre-tax bid-YTW of 5.15% based on a bid of 25.55 and a softMaturity 2018-3-30 at 25.00. |
HSB.PR.C | PerpetualDiscount | +1.0725% | Now with a pre-tax bid-YTW of 5.44% based on a bid of 23.56 and a limitMaturity. |
ELF.PR.F | PerpetualDiscount | +1.1291% | Now with a pre-tax bid-YTW of 6.46% based on a bid of 20.60 and a limitMaturity. |
CIU.PR.A | PerpetualDiscount | +1.1302% | Now with a pre-tax bid-YTW of 5.66% based on a bid of 20.58 and a limitMaturity. |
BMO.PR.J | PerpetualDiscount | +1.1478% | Now with a pre-tax bid-YTW of 5.39% based on a bid of 21.15 and a limitMaturity. |
CM.PR.E | PerpetualDiscount | +1.2766% | Now with a pre-tax bid-YTW of 5.88% based on a bid of 23.80 and a limitMaturity. |
BAM.PR.M | PerpetualDiscount | +1.3767% | Now with a pre-tax bid-YTW of 6.50% based on a bid of 18.41 and a limitMaturity. |
BAM.PR.K | Floater | +1.4006% | |
CM.PR.P | PerpetualDiscount | +1.9957% | Now with a pre-tax bid-YTW of 5.81% based on a bid of 23.51 and a limitMaturity. |
CM.PR.D | PerpetualDiscount | +2.0366% | Now with a pre-tax bid-YTW of 5.85% based on a bid of 24.55 and a limitMaturity. |
SLF.PR.B | PerpetualDiscount | +2.0947% | Now with a pre-tax bid-YTW of 5.38% based on a bid of 22.42 and a limitMaturity. |
RY.PR.B | PerpetualDiscount | +2.1998% | Now with a pre-tax bid-YTW of 5.33% based on a bid of 22.30 and a limitMaturity. |
ACO.PR.A | OpRet | +2.2684% | Now with a pre-tax bid-YTW of 3.64% based on a bid of 26.60 and a call 2008-12-31 at 26.00. |
HSB.PR.D | PerpetualDiscount | +2.3903% | Now with a pre-tax bid-YTW of 5.33% based on a bid of 23.56 and a limitMaturity. |
NA.PR.L | PerpetualDiscount | +2.4540% | Now with a pre-tax bid-YTW of 5.65% based on a bid of 21.71 and a limitMaturity. |
POW.PR.D | PerpetualDiscount | +2.4561% | Now with a pre-tax bid-YTW of 5.36% based on a bid of 23.36 and a limitMaturity. |
BNA.PR.C | SplitShare | +2.8037% | Asset coverage of 3.7+:1 as of November 30, according to the company. Now with a pre-tax bid-YTW of 7.90% based on a bid of 18.70 and a hardMaturity 2019-1-10 at 25.00. Compare with BNA.PR.A (5.73% to 2010-9-30) and BNA.PR.B (7.42% to 2016-3-25). |
RY.PR.G | PerpetualDiscount | +2.8352% | Now with a pre-tax bid-YTW of 5.33% based on a bid of 21.40 and a limitMaturity. |
PWF.PR.L | PerpetualDiscount | +2.8375% | Now with a pre-tax bid-YTW of 5.41% based on a bid of 23.92 and a limitMaturity. |
BAM.PR.N | PerpetualDiscount | +3.3609% | Now with a pre-tax bid-YTW of 6.38% based on a bid of 18.76 and a limitMaturity. |
CM.PR.H | PerpetualDiscount | +3.70% | Now with a pre-tax bid-YTW of 5.71% based on a bid of 21.04 and a limitMaturity. |
BAM.PR.G | FixFloat | +4.2105% |
Volume Highlights | |||
Issue | Index | Volume | Notes |
RY.PR.W | PerpetualDiscount | 46,910 | RBC crossed 18,400 at 23.60. Now with a pre-tax bid-YTW of 5.26% based on a bid of 23.56 and a limitMaturity. |
CM.PR.H | PerpetualDiscount | 19,190 | Now with a pre-tax bid-YTW of 5.71% based on a bid of 21.04 and a limitMaturity. |
RY.PR.D | PerpetualDiscount | 14,415 | Now with a pre-tax bid-YTW of 5.38% based on a bid of 21.19 and a limitMaturity. |
TD.PR.O | PerpetualDiscount | 13,195 | Now with a pre-tax bid-YTW of 5.31% based on a bid of 23.18 and a limitMaturity. |
CM.PR.I | PerpetualDiscount | 12,513 | Now with a pre-tax bid-YTW of 5.77% based on a bid of 20.41 and a limitMaturity. |
There were five other index-included $25.00-equivalent issues trading over 10,000 shares today.
I would like to congratulate James on having been an excellent guide during a very tumultuous 2007. His unique and thorough perspectives on an important sector of the Canadian income field have flushed out numerous opportunities for me (and I hope, other investors).
Congratulations, James and all the best in 2008.
A dedicated fan….
Ditto.
Another dedicated fan, from FWF
Thanks, guys! It’s nice to know I’m not just writing for myself!