Nothing happened today.
It was a mixed day for the Canadian preferred share market, with PerpetualDiscounts off 3bp, FixedResets up 10bp and DeemedRetractibles gaining 1bp. Volatility was nil. Volume was very 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 | 0.1390 % | 2,630.9 |
| FixedFloater | 4.17 % | 3.41 % | 26,121 | 18.57 | 1 | 0.0000 % | 4,158.4 |
| Floater | 2.92 % | 3.04 % | 45,256 | 19.59 | 4 | 0.1390 % | 2,720.5 |
| OpRet | 4.06 % | -0.75 % | 86,182 | 0.08 | 1 | -0.1975 % | 2,721.7 |
| SplitShare | 4.23 % | 4.00 % | 69,167 | 3.95 | 6 | -0.1061 % | 3,131.8 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1975 % | 2,488.7 |
| Perpetual-Premium | 5.49 % | -3.32 % | 85,778 | 0.08 | 19 | 0.0807 % | 2,437.1 |
| Perpetual-Discount | 5.23 % | 5.20 % | 114,071 | 15.13 | 17 | -0.0277 % | 2,596.5 |
| FixedReset | 4.29 % | 3.61 % | 190,899 | 8.63 | 76 | 0.1047 % | 2,565.6 |
| Deemed-Retractible | 4.98 % | 2.24 % | 102,507 | 0.27 | 42 | 0.0114 % | 2,558.1 |
| FloatingReset | 2.64 % | 2.07 % | 87,080 | 3.82 | 6 | -0.0722 % | 2,521.6 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| No individual gains or losses exceeding 1%! | |||
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.M | FixedReset | 208,181 | Recent new issue. YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.91 Bid-YTW : 3.95 % |
| TD.PF.B | FixedReset | 153,622 | Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-18 Maturity Price : 23.16 Evaluated at bid price : 25.00 Bid-YTW : 3.67 % |
| RY.PR.X | FixedReset | 142,340 | Called for redemption August 24. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-23 Maturity Price : 25.00 Evaluated at bid price : 24.99 Bid-YTW : 5.68 % |
| CM.PR.O | FixedReset | 73,729 | RBC crossed 65,000 at 25.52. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-18 Maturity Price : 23.29 Evaluated at bid price : 25.39 Bid-YTW : 3.69 % |
| ENB.PF.E | FixedReset | 44,140 | Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-18 Maturity Price : 23.11 Evaluated at bid price : 24.99 Bid-YTW : 4.15 % |
| NA.PR.S | FixedReset | 41,745 | TD crossed 40,000 at 25.54. YTW SCENARIO Maturity Type : Call Maturity Date : 2019-05-15 Maturity Price : 25.00 Evaluated at bid price : 25.55 Bid-YTW : 3.61 % |
| There were 14 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| FTS.PR.F | Perpetual-Discount | Quote: 24.56 – 25.24 Spot Rate : 0.6800 Average : 0.4162 YTW SCENARIO |
| NEW.PR.D | SplitShare | Quote: 32.28 – 32.61 Spot Rate : 0.3300 Average : 0.2434 YTW SCENARIO |
| BAM.PR.M | Perpetual-Discount | Quote: 21.55 – 21.87 Spot Rate : 0.3200 Average : 0.2420 YTW SCENARIO |
| TRP.PR.A | FixedReset | Quote: 23.18 – 23.41 Spot Rate : 0.2300 Average : 0.1631 YTW SCENARIO |
| GWO.PR.N | FixedReset | Quote: 21.33 – 21.55 Spot Rate : 0.2200 Average : 0.1558 YTW SCENARIO |
| ENB.PR.F | FixedReset | Quote: 24.65 – 24.83 Spot Rate : 0.1800 Average : 0.1167 YTW SCENARIO |