Nothing happened today.
There was a solid gain for the Canadian preferred share market today, with PerpetualPremiums up 11bp, FixedResets winning 14bp and DeemedRetractibles gaining 3bp. Volatility was average. Volume was average.
| 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 | -0.3386 % | 2,608.5 |
| FixedFloater | 4.11 % | 3.45 % | 23,325 | 18.40 | 1 | -0.9438 % | 3,952.9 |
| Floater | 2.55 % | 2.86 % | 78,433 | 20.03 | 5 | -0.3386 % | 2,816.5 |
| OpRet | 4.80 % | 2.71 % | 45,326 | 0.30 | 5 | -0.0849 % | 2,597.3 |
| SplitShare | 4.60 % | 4.51 % | 45,215 | 4.25 | 2 | -0.1598 % | 2,926.9 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0849 % | 2,375.0 |
| Perpetual-Premium | 5.21 % | 1.64 % | 87,625 | 0.17 | 31 | 0.1106 % | 2,355.3 |
| Perpetual-Discount | 4.83 % | 4.89 % | 131,916 | 15.60 | 4 | -0.0406 % | 2,648.7 |
| FixedReset | 4.92 % | 2.85 % | 280,895 | 3.51 | 79 | 0.1379 % | 2,496.7 |
| Deemed-Retractible | 4.87 % | 2.40 % | 143,199 | 0.24 | 44 | 0.0265 % | 2,442.7 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.K | Floater | -1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-03-01 Maturity Price : 18.31 Evaluated at bid price : 18.31 Bid-YTW : 2.89 % |
| IFC.PR.C | FixedReset | 1.17 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2016-09-30 Maturity Price : 25.00 Evaluated at bid price : 26.71 Bid-YTW : 2.41 % |
| FTS.PR.H | FixedReset | 1.33 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2015-06-01 Maturity Price : 25.00 Evaluated at bid price : 25.90 Bid-YTW : 2.61 % |
| HSE.PR.A | FixedReset | 2.02 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2016-03-31 Maturity Price : 25.00 Evaluated at bid price : 26.76 Bid-YTW : 2.33 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| PWF.PR.S | Perpetual-Discount | 109,109 | Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2043-03-01 Maturity Price : 24.58 Evaluated at bid price : 24.97 Bid-YTW : 4.81 % |
| VNR.PR.A | FixedReset | 73,700 | TD crossed 70,000 at 26.50. YTW SCENARIO Maturity Type : Call Maturity Date : 2017-10-15 Maturity Price : 25.00 Evaluated at bid price : 26.50 Bid-YTW : 3.09 % |
| ENB.PR.T | FixedReset | 70,850 | Desjardins crossed 50,000 at 25.50. YTW SCENARIO Maturity Type : Call Maturity Date : 2019-06-01 Maturity Price : 25.00 Evaluated at bid price : 25.52 Bid-YTW : 3.64 % |
| FTS.PR.J | Perpetual-Premium | 60,741 | Nesbitt crossed 53,500 at 25.90. YTW SCENARIO Maturity Type : Call Maturity Date : 2021-12-01 Maturity Price : 25.00 Evaluated at bid price : 25.85 Bid-YTW : 4.30 % |
| BNS.PR.X | FixedReset | 58,740 | TD crossed 55,000 at 26.35. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-04-25 Maturity Price : 25.00 Evaluated at bid price : 26.31 Bid-YTW : 2.06 % |
| BAM.PR.P | FixedReset | 54,497 | Scotia crossed 50,000 at 26.98. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-30 Maturity Price : 25.00 Evaluated at bid price : 26.98 Bid-YTW : 2.64 % |
| There were 28 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| MFC.PR.H | FixedReset | Quote: 26.20 – 26.45 Spot Rate : 0.2500 Average : 0.1709 YTW SCENARIO |
| SLF.PR.H | FixedReset | Quote: 25.39 – 25.60 Spot Rate : 0.2100 Average : 0.1460 YTW SCENARIO |
| BAM.PR.G | FixedFloater | Quote: 23.09 – 23.38 Spot Rate : 0.2900 Average : 0.2287 YTW SCENARIO |
| BNS.PR.L | Deemed-Retractible | Quote: 25.89 – 26.11 Spot Rate : 0.2200 Average : 0.1674 YTW SCENARIO |
| BNS.PR.O | Deemed-Retractible | Quote: 26.46 – 26.62 Spot Rate : 0.1600 Average : 0.1120 YTW SCENARIO |
| FTS.PR.J | Perpetual-Premium | Quote: 25.85 – 26.05 Spot Rate : 0.2000 Average : 0.1538 YTW SCENARIO |