Citigroup Inc. (C), the third-largest U.S. bank, said its offices at 111 Wall St. will be unusable for weeks after Hurricane Sandy battered lower Manhattan with water and power outages.
“The building experienced severe flooding and will be out of commission for several weeks,” Chief Executive Officer Michael Corbat wrote in a memo to employees today.
The New York-based firm is still assessing when buildings at 388 and 390 Greenwich St. can reopen, a process complicated by power and transit outages, he said.
It was a mixed day for the Canadian preferred share market, with PerpetualPremiums gaining 5bp, FixedResets off 3bp and DeemedRetractibles up 11bp. Volatility was non-existent. Volume was extremely low.
| 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 | 0.0533 % | 2,469.1 |
| FixedFloater | 4.18 % | 3.51 % | 35,049 | 18.32 | 1 | 0.2203 % | 3,853.3 |
| Floater | 2.80 % | 2.99 % | 56,699 | 19.74 | 4 | 0.0533 % | 2,665.9 |
| OpRet | 4.62 % | 2.02 % | 41,555 | 0.65 | 4 | -0.3705 % | 2,569.0 |
| SplitShare | 5.39 % | 4.82 % | 66,825 | 4.47 | 3 | -0.0131 % | 2,844.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.3705 % | 2,349.1 |
| Perpetual-Premium | 5.28 % | 1.21 % | 79,560 | 0.32 | 27 | 0.0545 % | 2,311.4 |
| Perpetual-Discount | 5.01 % | 4.92 % | 42,885 | 15.47 | 4 | 0.1744 % | 2,583.7 |
| FixedReset | 4.98 % | 3.03 % | 209,361 | 3.94 | 73 | -0.0312 % | 2,444.7 |
| Deemed-Retractible | 4.93 % | 3.56 % | 126,769 | 1.13 | 46 | 0.1102 % | 2,384.4 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| No individual gains or losses exceeding 1%! | |||
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BMO.PR.K | Deemed-Retractible | 101,839 | YTW SCENARIO Maturity Type : Call Maturity Date : 2012-12-25 Maturity Price : 26.00 Evaluated at bid price : 26.11 Bid-YTW : -0.05 % |
| IFC.PR.A | FixedReset | 59,804 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.34 Bid-YTW : 3.64 % |
| RY.PR.X | FixedReset | 50,100 | YTW SCENARIO Maturity Type : Call Maturity Date : 2014-08-24 Maturity Price : 25.00 Evaluated at bid price : 26.81 Bid-YTW : 1.96 % |
| BNS.PR.Y | FixedReset | 44,540 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.87 Bid-YTW : 2.85 % |
| SLF.PR.D | Deemed-Retractible | 31,664 | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.70 Bid-YTW : 5.25 % |
| GWO.PR.G | Deemed-Retractible | 30,225 | YTW SCENARIO Maturity Type : Call Maturity Date : 2013-12-31 Maturity Price : 25.00 Evaluated at bid price : 25.25 Bid-YTW : 4.73 % |
| There were 12 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BNA.PR.D | SplitShare | Quote: 26.50 – 26.89 Spot Rate : 0.3900 Average : 0.2629 YTW SCENARIO |
| MFC.PR.B | Deemed-Retractible | Quote: 23.85 – 24.20 Spot Rate : 0.3500 Average : 0.2342 YTW SCENARIO |
| PWF.PR.O | Perpetual-Premium | Quote: 26.51 – 26.89 Spot Rate : 0.3800 Average : 0.2699 YTW SCENARIO |
| IAG.PR.E | Deemed-Retractible | Quote: 26.38 – 26.87 Spot Rate : 0.4900 Average : 0.3858 YTW SCENARIO |
| TRI.PR.B | Floater | Quote: 22.20 – 22.50 Spot Rate : 0.3000 Average : 0.2030 YTW SCENARIO |
| RY.PR.G | Deemed-Retractible | Quote: 25.54 – 25.77 Spot Rate : 0.2300 Average : 0.1452 YTW SCENARIO |