Nothing happened today.
Volume was very good on the Canadian preferred share market, while PerpetualDiscounts were up 9bp and FixedResets gained 10bp – although the vagaries of the index calculations meant that the reported yield for FixedResets crept up 2bp (returns are a mean; YTW is a median). MFC issues were, for a change, missing from both the performance and volume highlights.
| 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 | -0.1660 % | 2,093.8 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1660 % | 3,171.8 |
| Floater | 2.91 % | 3.38 % | 65,384 | 18.80 | 3 | -0.1660 % | 2,260.7 |
| OpRet | 4.86 % | 0.58 % | 86,382 | 0.20 | 9 | 0.2910 % | 2,383.8 |
| SplitShare | 5.92 % | -29.91 % | 61,605 | 0.09 | 2 | 0.4103 % | 2,376.3 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2910 % | 2,179.8 |
| Perpetual-Premium | 5.71 % | 5.40 % | 126,968 | 5.36 | 14 | -0.1148 % | 1,983.7 |
| Perpetual-Discount | 5.57 % | 5.65 % | 190,951 | 14.39 | 63 | 0.0862 % | 1,954.5 |
| FixedReset | 5.24 % | 3.06 % | 292,068 | 3.31 | 47 | 0.1020 % | 2,270.9 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| POW.PR.D | Perpetual-Discount | -1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2040-09-16 Maturity Price : 22.11 Evaluated at bid price : 22.25 Bid-YTW : 5.72 % |
| BMO.PR.L | Perpetual-Premium | -1.34 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2017-06-24 Maturity Price : 25.00 Evaluated at bid price : 25.70 Bid-YTW : 5.40 % |
| RY.PR.W | Perpetual-Discount | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2040-09-16 Maturity Price : 23.35 Evaluated at bid price : 23.60 Bid-YTW : 5.23 % |
| BAM.PR.I | OpRet | 1.95 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2010-10-16 Maturity Price : 25.50 Evaluated at bid price : 26.20 Bid-YTW : -27.95 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| SLF.PR.C | Perpetual-Discount | 168,500 | Nesbitt crossed blocks of 100,000 and 29,000, both at 19.70. Desjardins crossed 11,800 at 19.59. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2040-09-16 Maturity Price : 19.69 Evaluated at bid price : 19.69 Bid-YTW : 5.68 % |
| TD.PR.K | FixedReset | 95,085 | Nesbitt crossed 50,000 at 28.17; TD crossed 10,600 at the same price; Desjardins crossed 13,200 at the same price again. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-08-30 Maturity Price : 25.00 Evaluated at bid price : 28.16 Bid-YTW : 3.08 % |
| RY.PR.Y | FixedReset | 87,500 | Nesbitt crossed 85,000 at 28.12. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-12-24 Maturity Price : 25.00 Evaluated at bid price : 28.08 Bid-YTW : 3.12 % |
| CM.PR.K | FixedReset | 73,574 | National crossed 10,900 at 27.62. TD crossed 13,600 at 27.55 and RBC crossed 35,000 at the same price. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-08-30 Maturity Price : 25.00 Evaluated at bid price : 27.50 Bid-YTW : 2.80 % |
| RY.PR.R | FixedReset | 71,650 | RBC crossed 48,100 at 27.85; Desjardins crossed 17,500 at the same price. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-03-26 Maturity Price : 25.00 Evaluated at bid price : 27.86 Bid-YTW : 2.97 % |
| BMO.PR.N | FixedReset | 65,550 | TD crossed 53,800 at 28.30. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-03-27 Maturity Price : 25.00 Evaluated at bid price : 28.28 Bid-YTW : 2.67 % |
| There were 50 other index-included issues trading in excess of 10,000 shares. | |||