Sorry, folks! Words of wisdom are in short supply today, so I’m just going to supply the links.
What are Corporate Bonds Worth in a Recession – Accrued Interest, excellent!
Yahoo! offer abandoned – Bloomberg
Credit Crunch Hitting Main Street – Bloomberg
Target monetizing its credit card receivables – Bloomberg
Bank of America affirms committment to Countrywide – Bloomberg
| Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version. In this version, index values are based at 1,000.0 on 2006-6-30 | |||||||
| Index | Mean Current Yield (at bid) | Mean YTW | Mean Average Trading Value | Mean Mod Dur (YTW) | Issues | Day’s Perf. | Index Value |
| Ratchet | 5.08% | 5.10% | 41,678 | 15.30 | 1 | -0.0797% | 1,094.2 |
| Fixed-Floater | 4.74% | 4.84% | 62,382 | 15.73 | 7 | -0.0888% | 1,053.4 |
| Floater | 4.43% | 4.48% | 60,947 | 16.44 | 2 | +0.3749% | 850.7 |
| Op. Retract | 4.84% | 3.31% | 84,754 | 2.62 | 15 | +0.1139% | 1,052.6 |
| Split-Share | 5.32% | 5.73% | 74,631 | 4.17 | 13 | -0.4936% | 1,042.0 |
| Interest Bearing | 6.15% | 6.19% | 57,985 | 3.84 | 3 | +0.2713% | 1,102.1 |
| Perpetual-Premium | 5.89% | 5.30% | 151,237 | 3.81 | 9 | +0.0089% | 1,021.6 |
| Perpetual-Discount | 5.68% | 5.72% | 327,345 | 14.20 | 63 | +0.1815% | 921.2 |
| Major Price Changes | |||
| Issue | Index | Change | Notes |
| IAG.PR.A | PerpetualDiscount | -2.4331% | Now with a pre-tax bid-YTW of 5.82% based on a bid of 20.05 and a limitMaturity. |
| LBS.PR.A | SplitShare | -1.1696% | Asset coverage of 2.2+:1 as of May 1, according to Brompton Group. Now with a pre-tax bid-YTW of 5.05% based on a bid of 10.14 and a hardMaturity 2013-11-29 at 10.00. |
| HSB.PR.C | PerpetualDiscount | +1.0733% | Now with a pre-tax bid-YTW of 5.71% based on a bid of 22.60 and a limitMaturity. |
| TD.PR.P | PerpetualDiscount | +1.2526% | Now with a pre-tax bid-YTW of 5.44% based on a bid of 24.25 and a limitMaturity. |
| CU.PR.A | PerpetualPremium | +1.3645% | Ex-Dividend today. Now with a pre-tax bid-YTW of 5.63% based on a bid of 25.08 and a call 2012-3-31 at 25.00. |
| W.PR.H | PerpetualDiscount | +1.3907% | Now with a pre-tax bid-YTW of 5.91% based on a bid of 23.33 and a limitMaturity. |
| RY.PR.D | PerpetualDiscount | +1.5423% | Now with a pre-tax bid-YTW of 5.53% based on a bid of 20.41 and a limitMaturity. |
| NA.PR.L | PerpetualDiscount | +2.4697% | Now with a pre-tax bid-YTW of 5.76% based on a bid of 21.16 and a limitMaturity. |
| Volume Highlights | |||
| Issue | Index | Volume | Notes |
| FAL.PR.H | PerpetualPremium | 187,300 | Desjardins crossed 100,000 at 25.25, then another 86,500 at the same price. Now with a pre-tax bid-YTW of 4.13% based on a bid of 25.20 and a call 2008-6-4 at 25.00. |
| BNS.PR.K | PerpetualDiscount | 106,080 | Now with a pre-tax bid-YTW of 5.44% based on a bid of 22.20 and a limitMaturity. |
| ENB.PR.A | PerpetualDiscount | 69,850 | Nesbitt crossed 63,600 at 24.75. Now with a pre-tax bid-YTW of 5.65% based on a bid of 24.76 and a limitMaturity. |
| BMO.PR.L | PerpetualDiscount | 65,065 | Now with a pre-tax bid-YTW of 5.90% based on a bid of 24.87 and a limitMaturity. |
| BMO.PR.I | OpRet | 52,300 | “Anonymous” bought two 20,000 share lots from Nesbitt at 25.05 … not necessarily the same “anonymous” for each lot! Now with a pre-tax bid-YTW of 1.43% based on a bid of 25.00 and a call 2008-6-4 at 25.00. |
There were fifteen other index-included $25-pv-equivalent issues trading over 10,000 shares today.