No time! Those whose days are incomplete without PrefBlog’s commentary are urged to send me Deep Thoughts that I can pass off as my own.
Yet another crummy day in the preferred share market and yet again the SunLife issues got hammered.
| 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 | 4.15% | 4.06% | 49,490 | 0.16 | 1 | +0.0000% | 1,114.1 |
| Fixed-Floater | 4.92% | 4.67% | 59,975 | 16.05 | 7 | -0.2005% | 1,016.7 |
| Floater | 4.13% | 4.12% | 66,527 | 17.19 | 2 | -0.9244% | 927.5 |
| Op. Retract | 4.84% | 2.53% | 85,391 | 2.40 | 15 | +0.0629% | 1,057.5 |
| Split-Share | 5.29% | 5.50% | 69,003 | 4.17 | 15 | +0.1134% | 1,051.6 |
| Interest Bearing | 6.09% | 6.02% | 46,529 | 3.77 | 3 | +0.0335% | 1,118.6 |
| Perpetual-Premium | 5.88% | 4.97% | 384,454 | 9.64 | 13 | -0.1614% | 1,019.8 |
| Perpetual-Discount | 5.81% | 5.87% | 221,373 | 14.06 | 59 | -0.4128% | 902.8 |
| Major Price Changes | |||
| Issue | Index | Change | Notes |
| BNS.PR.N | PerpetualDiscount | -3.0808% | Now with a pre-tax bid-YTW of 5.72% based on a bid of 23.28 and a limitMaturity. |
| SLF.PR.C | PerpetualDiscount | -2.8647% | Now with a pre-tax bid-YTW of 6.10% based on a bid of 18.31 and a limitMaturity. |
| MFC.PR.B | PerpetualDiscount | -2.8302% | Now with a pre-tax bid-YTW of 5.68% based on a bid of 20.60 and a limitMaturity. |
| BNS.PR.K | PerpetualDiscount | -2.1364% | Now with a pre-tax bid-YTW of 5.66% based on a bid of 21.53 and a limitMaturity. |
| BAM.PR.B | Floater | -1.9512% | |
| RY.PR.B | PerpetualDiscount | -1.9130% | Now with a pre-tax bid-YTW of 5.79% based on a bid of 20.51 and a limitMaturity. |
| SLF.PR.B | PerpetualDiscount | -1.4342% | Now with a pre-tax bid-YTW of 6.05% based on a bid of 19.93 and a limitMaturity. |
| GWO.PR.H | PerpetualDiscount | -1.4078% | Now with a pre-tax bid-YTW of 5.79% based on a bid of 21.01 and a limitMaturity. |
| BMO.PR.K | PerpetualDiscount | -1.3650% | Now with a pre-tax bid-YTW of 5.92% based on a bid of 22.40 and a limitMaturity. |
| TD.PR.O | PerpetualDiscount | -1.2999% | Now with a pre-tax bid-YTW of 5.58% based on a bid of 22.02 and a limitMaturity. |
| BMO.PR.H | PerpetualDiscount | -1.1578% | Now with a pre-tax bid-YTW of 5.77% based on a bid of 23.05 and a limitMaturity. |
| GWO.PR.G | PerpetualDiscount | -1.0277% | Now with a pre-tax bid-YTW of 5.89% based on a bid of 22.15 and a limitMaturity. |
| SLF.PR.D | PerpetualDiscount | -1.0155% | Now with a pre-tax bid-YTW of 6.03% based on a bid of 18.52 and a limitMaturity. |
| BAM.PR.J | OpRet | +1.0509% | Now with a pre-tax bid-YTW of 5.40% based on a bid of 25.00 and a softMaturity 2018-3-30 at 25.00. |
| HSB.PR.D | PerpetualDiscount | +1.3283% | Now with a pre-tax bid-YTW of 5.88% based on a bid of 21.36 and a limitMaturity. |
| Volume Highlights | |||
| Issue | Index | Volume | Notes |
| TCA.PR.Y | PerpetualDiscount | 62,176 | CIBC crossed 59,300 at 49.01. Now with a pre-tax bid-YTW of 5.72% based on a bid of 49.00 and a limitMaturity. |
| BMO.PR.J | PerpetualDiscount | 112,500 | Nesbitt crossed 100,000 at 20.00, after clearing out 8,300 shares offered in four tranches from 19.94 to 19.97. Now with a pre-tax bid-YTW of 5.71% based on a bid of 19.90 and a limitMaturity. |
| CM.PR.D | PerpetualDiscount | 36,694 | Now with a pre-tax bid-YTW of 5.94% based on a bid of 24.55 and a limitMaturity. |
| GWO.PR.I | PerpetualDiscount | 29,100 | Now with a pre-tax bid-YTW of 5.76% based on a bid of 19.62 and a limitMaturity. |
| BMO.PR.L | PerpetualPremium | 27,060 | Now with a pre-tax bid-YTW of 5.91% based on a bid of 25.00 and a limitMaturity. |
There were eighteen other index-included $25-pv-equivalent issues trading over 10,000 shares today.