Goldman is burnishing its credentials as the toughest dealer on the Street:
Goldman Sachs has threatened the UK Treasury with plans to move up to 20 per cent of its London-based staff to Spain in a standoff over tax and bonuses.
It’s believed that the Wall Street investment bank, which paid more than £2bn to the Exchequer’s ailing coffers in corporation tax alone last year, has fired a warning shot across the Government’s bows in response to the tax measures unveiled in the pre-Budget report earlier this month.
Goldman Sachs International was the biggest contributor from the financial services sector to Britain’s purse last year. Previous reports suggest that in some years the firm’s staff have contributed more than £1bn in personal income tax to public coffers.
PerpetualDiscounts were off today, losing 8bp, but FixedResets just kept on keeping on, gaining 6bp on good volume. How Low Can They Go?
| 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 | 0.2326 % | 1,574.6 |
| FixedFloater | 5.76 % | 3.90 % | 41,043 | 18.91 | 1 | -1.6146 % | 2,706.3 |
| Floater | 2.49 % | 2.91 % | 107,859 | 19.95 | 3 | 0.2326 % | 1,967.1 |
| OpRet | 4.86 % | -4.35 % | 130,747 | 0.09 | 15 | -0.1019 % | 2,318.5 |
| SplitShare | 6.43 % | -6.01 % | 231,371 | 0.08 | 2 | 0.1555 % | 2,088.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1019 % | 2,120.0 |
| Perpetual-Premium | 5.86 % | 5.77 % | 81,846 | 2.32 | 7 | 0.2444 % | 1,882.0 |
| Perpetual-Discount | 5.79 % | 5.85 % | 198,595 | 14.05 | 68 | -0.0844 % | 1,798.0 |
| FixedReset | 5.40 % | 3.68 % | 348,265 | 3.86 | 41 | 0.0561 % | 2,166.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| HSB.PR.C | Perpetual-Discount | -2.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-12-21 Maturity Price : 21.54 Evaluated at bid price : 21.54 Bid-YTW : 5.95 % |
| BAM.PR.G | FixedFloater | -1.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-12-21 Maturity Price : 25.00 Evaluated at bid price : 18.89 Bid-YTW : 3.90 % |
| MFC.PR.A | OpRet | -1.18 % | YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2015-12-18 Maturity Price : 25.00 Evaluated at bid price : 26.04 Bid-YTW : 3.35 % |
| CIU.PR.A | Perpetual-Discount | -1.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-12-21 Maturity Price : 19.80 Evaluated at bid price : 19.80 Bid-YTW : 5.87 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.A | OpRet | 51,219 | RBC crossed 48,800 at 26.45. YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2015-12-18 Maturity Price : 25.00 Evaluated at bid price : 26.04 Bid-YTW : 3.35 % |
| CM.PR.L | FixedReset | 46,986 | RBC bought 15,500 from CIBC at 28.15. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-05-30 Maturity Price : 25.00 Evaluated at bid price : 28.15 Bid-YTW : 3.68 % |
| RY.PR.F | Perpetual-Discount | 44,474 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-12-21 Maturity Price : 20.30 Evaluated at bid price : 20.30 Bid-YTW : 5.55 % |
| GWO.PR.I | Perpetual-Discount | 43,226 | TD crossed 25,000 at 18.74. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-12-21 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 6.05 % |
| GWO.PR.X | OpRet | 38,991 | Called for redemption. YTW SCENARIO Maturity Type : Call Maturity Date : 2010-10-30 Maturity Price : 25.67 Evaluated at bid price : 25.96 Bid-YTW : 3.20 % |
| BAM.PR.K | Floater | 33,250 | RBC crossed 25,000 at 13.25. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-12-21 Maturity Price : 13.26 Evaluated at bid price : 13.26 Bid-YTW : 2.96 % |
| There were 34 other index-included issues trading in excess of 10,000 shares. | |||