February 17, 2017

Let’s close the week off with some rather dated (2014) anti-drone news:

Watch how a US Military Naval ship equipped with a LaWS laser weapon-system destroys an enemy target.

The laser locks onto its target and opens ‘fire’. The target explodes leaving the platform unscathed.

The laser then neatly incinerates a Scan Eagle drone, which plunges to the sea below.

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 1.4098 % 2,040.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.4098 % 3,743.9
Floater 3.70 % 3.94 % 54,166 17.50 4 1.4098 % 2,157.6
OpRet 0.00 % 0.00 % 0 0.00 0 0.4508 % 2,984.2
SplitShare 4.74 % 4.01 % 59,074 0.79 4 0.4508 % 3,563.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4508 % 2,780.6
Perpetual-Premium 5.42 % -3.02 % 72,726 0.09 16 0.0073 % 2,733.3
Perpetual-Discount 5.17 % 5.16 % 96,865 15.07 22 -0.1810 % 2,907.5
FixedReset 4.48 % 4.13 % 227,641 6.78 97 0.1783 % 2,300.9
Deemed-Retractible 5.03 % 0.47 % 126,437 0.12 31 0.0016 % 2,844.1
FloatingReset 2.48 % 3.13 % 51,355 4.67 9 0.2796 % 2,460.1
Performance Highlights
Issue Index Change Notes
NA.PR.W FixedReset 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 21.39
Evaluated at bid price : 21.39
Bid-YTW : 4.02 %
TRP.PR.A FixedReset 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 18.25
Evaluated at bid price : 18.25
Bid-YTW : 4.23 %
TRP.PR.D FixedReset 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 21.33
Evaluated at bid price : 21.33
Bid-YTW : 4.17 %
PWF.PR.A Floater 4.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 14.75
Evaluated at bid price : 14.75
Bid-YTW : 3.22 %
Volume Highlights
Issue Index Shares
Traded
Notes
BIP.PR.C FixedReset 171,858 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-09-30
Maturity Price : 25.00
Evaluated at bid price : 25.75
Bid-YTW : 4.82 %
BAM.PR.K Floater 155,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 3.94 %
BAM.PR.C Floater 130,583 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 12.10
Evaluated at bid price : 12.10
Bid-YTW : 3.94 %
BAM.PR.B Floater 120,956 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 12.12
Evaluated at bid price : 12.12
Bid-YTW : 3.94 %
TD.PR.Z FloatingReset 99,000 YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.80
Bid-YTW : 3.13 %
TRP.PR.K FixedReset 89,297 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2022-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.71
Bid-YTW : 4.30 %
There were 28 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
TRP.PR.F FloatingReset Quote: 17.00 – 17.35
Spot Rate : 0.3500
Average : 0.2413

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 3.55 %

MFC.PR.L FixedReset Quote: 20.85 – 21.11
Spot Rate : 0.2600
Average : 0.1649

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 20.85
Bid-YTW : 6.10 %

ELF.PR.F Perpetual-Discount Quote: 24.30 – 24.54
Spot Rate : 0.2400
Average : 0.1549

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 24.05
Evaluated at bid price : 24.30
Bid-YTW : 5.51 %

TD.PF.G FixedReset Quote: 26.85 – 27.06
Spot Rate : 0.2100
Average : 0.1297

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2021-04-30
Maturity Price : 25.00
Evaluated at bid price : 26.85
Bid-YTW : 3.67 %

CM.PR.O FixedReset Quote: 21.50 – 21.72
Spot Rate : 0.2200
Average : 0.1438

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2047-02-17
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 4.08 %

MFC.PR.H FixedReset Quote: 23.76 – 23.96
Spot Rate : 0.2000
Average : 0.1274

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.76
Bid-YTW : 4.96 %

2 Responses to “February 17, 2017”

  1. BarleyandHops says:

    Egregious off topic comment:

    I’m sure Athabasca Oil would like such convenience of drone usage:

    http://business.financialpost.com/news/fp-street/tenderconsent-combo-irks-some-athabasca-oil-corp-noteholders

    Money quote:

    It all depends on, among other things, whether Athabasca can raise US$450 million via a five-year debt at 9.875 per cent financing.

    What? I thought the recent deal would reduce financing costs?

    Sorry but this has me confused. Any ready wants to chime in and educate me, awesome.

    Sorry to be off topic.

  2. BarleyandHops says:

    My bad

    ready = reader

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