June 24, 2013

Nice quote from Richard Fisher of the Dallas Fed:

Investors shouldn’t overreact to the central bank’s plans to reduce the pace of asset purchases, Fisher said in an interview with the Financial Times published today on its web site. Investors behaved like “feral hogs” after the June 19 comments by Bernanke, he said, according to the newspaper.

Nothing moves as quickly as retail:

According to TrimTabs Investment Research, investors are selling bond-related investments at a record pace, with $47.2-billion (U.S.) flowing out of U.S. bond mutual funds and exchange-traded funds so far in June, easily exceeding the record of $41.8-billion set in October, 2008, during the financial panic.

Meanwhile, at the Canadian preferred share investor convention:

The Canadian preferred share market was left a shambles after a day of slaughter, with PerpetualPremiums losing 158bp, FixedResets off 78bp and DeemedRetractibles down 123bp. The Performance Highlights table is suitably ridiculous with … um … LOTS! That’s right, LOTS of entries … and a solitary winner. Volume was gargantuan.

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 0.0656 % 2,548.2
FixedFloater 4.41 % 3.74 % 47,574 17.82 1 -2.4036 % 3,721.8
Floater 2.75 % 2.92 % 78,145 19.91 4 0.0656 % 2,751.4
OpRet 4.87 % 4.04 % 69,439 0.08 5 -0.2967 % 2,606.2
SplitShare 4.68 % 4.28 % 95,571 3.99 6 -0.1109 % 2,959.9
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.2967 % 2,383.1
Perpetual-Premium 5.53 % 5.65 % 126,548 14.32 33 -1.5845 % 2,235.2
Perpetual-Discount 5.58 % 5.63 % 248,893 14.44 5 -1.4397 % 2,339.3
FixedReset 5.00 % 3.56 % 249,572 4.02 83 -0.7276 % 2,456.0
Deemed-Retractible 5.16 % 5.21 % 175,226 7.04 44 -1.2349 % 2,333.2
Performance Highlights
Issue Index Change Notes
GWO.PR.I Deemed-Retractible -6.66 % This has more to do with the laziness of the market maker than anything else – the low for the day was 21.86, the closing quote was 21.01-22.21, 2×5, and, of the 25 latest trades reported by the TMX commencing 12:30pm, there was only one at less than 22.00 (that trade, at 1:28pm, was for 200 shares at 21.99). Still, the loss would be significant even if there had been a competent market maker.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.01
Bid-YTW : 6.51 %
ELF.PR.G Perpetual-Discount -6.26 % Another case showing up the sleaziness of the close-mouthed market making cartel: the low for the day was 22.17, the closing quote was 21.56-25, 5×38 and, of the 25 latest trades reported by the TMX commencing 9:57am, only two were after 3:00pm. Still, the loss would be significant even if there had been a competent market maker.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 21.56
Evaluated at bid price : 21.56
Bid-YTW : 5.62 %
TRP.PR.B FixedReset -4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.64
Evaluated at bid price : 22.97
Bid-YTW : 3.37 %
TRP.PR.A FixedReset -4.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.61
Evaluated at bid price : 24.01
Bid-YTW : 3.88 %
PWF.PR.L Perpetual-Premium -3.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.39
Evaluated at bid price : 22.80
Bid-YTW : 5.67 %
CU.PR.D Perpetual-Premium -3.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.28
Evaluated at bid price : 23.60
Bid-YTW : 5.23 %
PWF.PR.F Perpetual-Premium -3.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.54
Evaluated at bid price : 23.81
Bid-YTW : 5.59 %
VNR.PR.A FixedReset -3.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.22
Evaluated at bid price : 25.02
Bid-YTW : 4.46 %
FTS.PR.J Perpetual-Premium -3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.42
Evaluated at bid price : 22.75
Bid-YTW : 5.26 %
POW.PR.A Perpetual-Premium -2.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.87
Evaluated at bid price : 24.12
Bid-YTW : 5.81 %
PWF.PR.K Perpetual-Premium -2.93 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.06
Evaluated at bid price : 22.50
Bid-YTW : 5.57 %
CU.PR.E Perpetual-Premium -2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.24
Evaluated at bid price : 23.55
Bid-YTW : 5.24 %
GWO.PR.G Deemed-Retractible -2.88 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.60
Bid-YTW : 5.90 %
POW.PR.D Perpetual-Premium -2.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.68
Evaluated at bid price : 22.94
Bid-YTW : 5.45 %
BAM.PR.X FixedReset -2.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.27
Evaluated at bid price : 22.88
Bid-YTW : 4.08 %
MFC.PR.F FixedReset -2.68 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.01
Bid-YTW : 3.90 %
CIU.PR.C FixedReset -2.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.84
Evaluated at bid price : 23.70
Bid-YTW : 3.33 %
PWF.PR.E Perpetual-Premium -2.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.00
Evaluated at bid price : 24.25
Bid-YTW : 5.76 %
BAM.PR.G FixedFloater -2.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.14
Evaluated at bid price : 21.52
Bid-YTW : 3.74 %
MFC.PR.B Deemed-Retractible -2.32 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.90
Bid-YTW : 6.21 %
PWF.PR.G Perpetual-Premium -2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.49
Evaluated at bid price : 24.72
Bid-YTW : 6.07 %
BAM.PR.T FixedReset -2.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.07
Evaluated at bid price : 24.44
Bid-YTW : 4.16 %
BNS.PR.K Deemed-Retractible -2.19 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.52
Bid-YTW : 5.21 %
ELF.PR.H Perpetual-Premium -2.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.20
Evaluated at bid price : 24.60
Bid-YTW : 5.68 %
SLF.PR.C Deemed-Retractible -2.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.14
Bid-YTW : 6.38 %
HSE.PR.A FixedReset -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.73
Evaluated at bid price : 23.46
Bid-YTW : 3.81 %
SLF.PR.G FixedReset -2.08 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.99
Bid-YTW : 3.82 %
GWO.PR.M Deemed-Retractible -2.02 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2019-03-31
Maturity Price : 25.00
Evaluated at bid price : 25.25
Bid-YTW : 5.62 %
NA.PR.L Deemed-Retractible -2.01 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.40
Bid-YTW : 5.31 %
GWO.PR.L Deemed-Retractible -2.00 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.96
Bid-YTW : 5.70 %
GWO.PR.J FixedReset -1.98 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.70
Bid-YTW : 5.04 %
BAM.PR.K Floater -1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 17.36
Evaluated at bid price : 17.36
Bid-YTW : 3.02 %
SLF.PR.E Deemed-Retractible -1.89 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.26
Bid-YTW : 6.37 %
POW.PR.B Perpetual-Premium -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.63
Evaluated at bid price : 23.90
Bid-YTW : 5.60 %
ENB.PR.T FixedReset -1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.92
Evaluated at bid price : 24.47
Bid-YTW : 4.19 %
CU.PR.F Perpetual-Premium -1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 21.31
Evaluated at bid price : 21.60
Bid-YTW : 5.24 %
IGM.PR.B Perpetual-Premium -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.40
Evaluated at bid price : 24.90
Bid-YTW : 6.01 %
SLF.PR.D Deemed-Retractible -1.71 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.25
Bid-YTW : 6.32 %
MFC.PR.C Deemed-Retractible -1.71 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.30
Bid-YTW : 6.37 %
BAM.PF.A FixedReset -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.07
Evaluated at bid price : 24.78
Bid-YTW : 4.55 %
ENB.PR.F FixedReset -1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.01
Evaluated at bid price : 24.56
Bid-YTW : 4.19 %
ENB.PR.P FixedReset -1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.93
Evaluated at bid price : 24.45
Bid-YTW : 4.20 %
POW.PR.G Perpetual-Premium -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.20
Evaluated at bid price : 24.60
Bid-YTW : 5.69 %
PWF.PR.R Perpetual-Premium -1.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.25
Evaluated at bid price : 24.65
Bid-YTW : 5.65 %
SLF.PR.A Deemed-Retractible -1.55 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.22
Bid-YTW : 6.13 %
GWO.PR.R Deemed-Retractible -1.49 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.20
Bid-YTW : 5.68 %
PWF.PR.S Perpetual-Premium -1.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.08
Evaluated at bid price : 23.50
Bid-YTW : 5.16 %
ENB.PR.H FixedReset -1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.81
Evaluated at bid price : 24.10
Bid-YTW : 3.98 %
GWO.PR.H Deemed-Retractible -1.42 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.87
Bid-YTW : 5.90 %
HSB.PR.C Deemed-Retractible -1.40 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.66
Bid-YTW : 5.32 %
CU.PR.G Perpetual-Premium -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 21.67
Evaluated at bid price : 21.95
Bid-YTW : 5.18 %
BMO.PR.J Deemed-Retractible -1.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.80
Bid-YTW : 4.69 %
BNS.PR.L Deemed-Retractible -1.39 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.81
Bid-YTW : 4.73 %
BAM.PR.Z FixedReset -1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.26
Evaluated at bid price : 25.20
Bid-YTW : 4.59 %
W.PR.J Perpetual-Premium -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.27
Evaluated at bid price : 24.57
Bid-YTW : 5.80 %
TRP.PR.D FixedReset -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.09
Evaluated at bid price : 24.92
Bid-YTW : 4.03 %
ENB.PR.D FixedReset -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.02
Evaluated at bid price : 24.53
Bid-YTW : 4.09 %
ENB.PR.N FixedReset -1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.07
Evaluated at bid price : 24.80
Bid-YTW : 4.24 %
BNS.PR.M Deemed-Retractible -1.27 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.83
Bid-YTW : 4.72 %
BNS.PR.Y FixedReset -1.24 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.90
Bid-YTW : 3.69 %
ENB.PR.B FixedReset -1.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.15
Evaluated at bid price : 24.70
Bid-YTW : 4.09 %
GWO.PR.F Deemed-Retractible -1.23 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.81
Bid-YTW : 6.02 %
GWO.PR.N FixedReset -1.21 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.75
Bid-YTW : 3.74 %
ENB.PR.Y FixedReset -1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.96
Evaluated at bid price : 24.60
Bid-YTW : 4.07 %
IAG.PR.A Deemed-Retractible -1.14 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 23.45
Bid-YTW : 5.34 %
RY.PR.F Deemed-Retractible -1.12 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.76
Bid-YTW : 4.66 %
RY.PR.C Deemed-Retractible -1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.90
Bid-YTW : 4.74 %
BNS.PR.P FixedReset -1.11 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2018-04-25
Maturity Price : 25.00
Evaluated at bid price : 24.99
Bid-YTW : 3.49 %
SLF.PR.B Deemed-Retractible -1.11 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 22.35
Bid-YTW : 6.11 %
TD.PR.A FixedReset -1.10 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 25.12
Bid-YTW : 3.86 %
FTS.PR.F Perpetual-Premium -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.63
Evaluated at bid price : 22.85
Bid-YTW : 5.41 %
W.PR.H Perpetual-Premium -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 24.29
Evaluated at bid price : 24.59
Bid-YTW : 5.69 %
BMO.PR.K Deemed-Retractible -1.02 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2016-11-25
Maturity Price : 25.00
Evaluated at bid price : 25.19
Bid-YTW : 5.17 %
TRI.PR.B Floater 2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.04
Evaluated at bid price : 23.31
Bid-YTW : 2.22 %
Volume Highlights
Issue Index Shares
Traded
Notes
RY.PR.P FixedReset 179,100 RBC bought 55,000 from TD at 25.70, then crossed blocks of 73,100 and 17,300 at the same price.
YTW SCENARIO
Maturity Type : Call
Maturity Date : 2014-02-24
Maturity Price : 25.00
Evaluated at bid price : 25.61
Bid-YTW : 3.34 %
MFC.PR.K FixedReset 138,508 Recent new issue.
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.70
Bid-YTW : 4.03 %
TD.PR.E FixedReset 98,689 RBC crossed blocks of 49,500 and 25,000, both at 26.00.
YTW SCENARIO
Maturity Type : Call
Maturity Date : 2014-04-30
Maturity Price : 25.00
Evaluated at bid price : 25.91
Bid-YTW : 3.01 %
BAM.PF.D Perpetual-Discount 65,000 Recent new issue.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.19
Evaluated at bid price : 22.53
Bid-YTW : 5.46 %
ENB.PR.Y FixedReset 61,530 Recent new issue.
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.96
Evaluated at bid price : 24.60
Bid-YTW : 4.07 %
TRP.PR.D FixedReset 37,485 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.09
Evaluated at bid price : 24.92
Bid-YTW : 4.03 %
There were 78 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
GWO.PR.I Deemed-Retractible Quote: 21.01 – 22.21
Spot Rate : 1.2000
Average : 0.7146

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.01
Bid-YTW : 6.51 %

MFC.PR.F FixedReset Quote: 24.01 – 24.80
Spot Rate : 0.7900
Average : 0.4737

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.01
Bid-YTW : 3.90 %

CIU.PR.C FixedReset Quote: 23.70 – 24.43
Spot Rate : 0.7300
Average : 0.4715

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.84
Evaluated at bid price : 23.70
Bid-YTW : 3.33 %

POW.PR.A Perpetual-Premium Quote: 24.12 – 24.72
Spot Rate : 0.6000
Average : 0.3427

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.87
Evaluated at bid price : 24.12
Bid-YTW : 5.81 %

BAM.PR.G FixedFloater Quote: 21.52 – 22.25
Spot Rate : 0.7300
Average : 0.4792

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 22.14
Evaluated at bid price : 21.52
Bid-YTW : 3.74 %

VNR.PR.A FixedReset Quote: 25.02 – 25.67
Spot Rate : 0.6500
Average : 0.4002

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2043-06-24
Maturity Price : 23.22
Evaluated at bid price : 25.02
Bid-YTW : 4.46 %

One Response to “June 24, 2013”

  1. […] statement and particularly Bernanke’s press conference afterwards. The market bottomed on June 24 and has been slowly recovering since then; various Fed officials made a concerted effort to calm […]

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