Suncor has a corporate policy of ineffective supervision:
Last June, Suncor told its workers it would introduce a sweeping random drug-and-alcohol testing policy for all employees in “safety-sensitive” roles, meaning they could be tested at any time.
Workers in safety-sensitive jobs aren’t supervised? What kind of company is this?
It was a mixed day for the Canadian preferred share market, with PerpetualPremiums gaining 6bp, FixedResets down 5bp and DeemedRetractibles up 14bp. Volatility was low. Volume picked up, and is now merely very low.
| 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 | 0.3341 % | 2,487.1 |
| FixedFloater | 4.29 % | 3.66 % | 29,819 | 17.94 | 1 | 1.1431 % | 3,746.6 |
| Floater | 2.80 % | 3.01 % | 54,857 | 19.74 | 4 | 0.3341 % | 2,685.4 |
| OpRet | 4.62 % | -3.44 % | 51,130 | 0.41 | 4 | 0.1622 % | 2,601.2 |
| SplitShare | 4.64 % | 4.67 % | 50,261 | 4.35 | 2 | -0.2613 % | 2,873.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1622 % | 2,378.6 |
| Perpetual-Premium | 5.25 % | 0.31 % | 69,152 | 0.77 | 30 | 0.0594 % | 2,335.5 |
| Perpetual-Discount | 4.86 % | 4.85 % | 133,209 | 15.76 | 4 | 0.0203 % | 2,642.0 |
| FixedReset | 4.92 % | 2.97 % | 203,611 | 4.03 | 78 | -0.0451 % | 2,469.7 |
| Deemed-Retractible | 4.87 % | 0.11 % | 110,894 | 0.36 | 46 | 0.1354 % | 2,431.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| GWO.PR.M | Deemed-Retractible | 1.06 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2015-03-31 Maturity Price : 26.00 Evaluated at bid price : 26.60 Bid-YTW : 4.53 % |
| BAM.PR.G | FixedFloater | 1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-01-03 Maturity Price : 22.62 Evaluated at bid price : 22.12 Bid-YTW : 3.66 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| RY.PR.A | Deemed-Retractible | 101,384 | Desjardins crossed 96,000 at 25.93. YTW SCENARIO Maturity Type : Call Maturity Date : 2013-05-24 Maturity Price : 25.50 Evaluated at bid price : 25.92 Bid-YTW : 1.30 % |
| RY.PR.H | Deemed-Retractible | 84,870 | National bought 39,100 from CIBC, then crossed 40,000, both at 26.80. YTW SCENARIO Maturity Type : Call Maturity Date : 2013-05-24 Maturity Price : 26.00 Evaluated at bid price : 26.80 Bid-YTW : -1.00 % |
| GWO.PR.J | FixedReset | 55,783 | TD crossed 42,600 at 25.95. YTW SCENARIO Maturity Type : Call Maturity Date : 2013-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.94 Bid-YTW : 2.21 % |
| CM.PR.M | FixedReset | 41,362 | Nesbitt crossed 40,000 at 26.60. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-07-31 Maturity Price : 25.00 Evaluated at bid price : 26.62 Bid-YTW : 2.02 % |
| BAM.PR.B | Floater | 28,112 | Nesbitt bought 10,000 from anonymous at 17.59. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-01-03 Maturity Price : 17.54 Evaluated at bid price : 17.54 Bid-YTW : 3.01 % |
| SLF.PR.A | Deemed-Retractible | 23,687 | YTW SCENARIO Maturity Type : Call Maturity Date : 2014-03-31 Maturity Price : 25.00 Evaluated at bid price : 25.12 Bid-YTW : 4.40 % |
| There were 14 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BAM.PR.C | Floater | Quote: 17.48 – 19.00 Spot Rate : 1.5200 Average : 1.3691 YTW SCENARIO |
| MFC.PR.C | Deemed-Retractible | Quote: 24.45 – 24.88 Spot Rate : 0.4300 Average : 0.2852 YTW SCENARIO |
| MFC.PR.F | FixedReset | Quote: 24.16 – 24.50 Spot Rate : 0.3400 Average : 0.2249 YTW SCENARIO |
| TRP.PR.A | FixedReset | Quote: 25.55 – 25.80 Spot Rate : 0.2500 Average : 0.1525 YTW SCENARIO |
| MFC.PR.B | Deemed-Retractible | Quote: 24.77 – 25.09 Spot Rate : 0.3200 Average : 0.2242 YTW SCENARIO |
| BAM.PR.G | FixedFloater | Quote: 22.12 – 22.83 Spot Rate : 0.7100 Average : 0.6189 YTW SCENARIO |