Nothing happened again today. Dull week.
It was a mixed day for the Canadian preferred share market, with PerpetualDiscounts off 6bp, FixedResets up 10bp and DeemedRetractibles gaining 4bp. 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 | -0.2232 % | 2,612.6 |
| FixedFloater | 4.17 % | 3.41 % | 25,928 | 18.56 | 1 | 0.0000 % | 4,156.5 |
| Floater | 2.94 % | 3.07 % | 46,255 | 19.51 | 4 | -0.2232 % | 2,701.6 |
| OpRet | 4.05 % | -3.21 % | 91,337 | 0.08 | 1 | 0.1582 % | 2,728.2 |
| SplitShare | 4.23 % | 3.79 % | 72,384 | 3.99 | 6 | 0.2157 % | 3,150.4 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1582 % | 2,494.6 |
| Perpetual-Premium | 5.49 % | -0.46 % | 83,196 | 0.08 | 19 | 0.0496 % | 2,437.0 |
| Perpetual-Discount | 5.23 % | 5.17 % | 111,046 | 15.18 | 17 | -0.0554 % | 2,594.4 |
| FixedReset | 4.29 % | 3.63 % | 188,998 | 8.63 | 76 | 0.0998 % | 2,569.1 |
| Deemed-Retractible | 4.99 % | 2.42 % | 105,448 | 0.35 | 42 | 0.0370 % | 2,556.5 |
| FloatingReset | 2.64 % | 2.07 % | 89,055 | 3.81 | 6 | -0.0590 % | 2,523.6 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| No individual gains or losses exceeding 1%! | |||
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| MFC.PR.M | FixedReset | 262,112 | Recent new issue. YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 25.05 Bid-YTW : 3.88 % |
| CU.PR.E | Perpetual-Discount | 100,000 | Nesbitt crossed 100,000 at 24.55. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-21 Maturity Price : 24.04 Evaluated at bid price : 24.45 Bid-YTW : 5.01 % |
| TD.PF.A | FixedReset | 60,080 | Desjardins crossed 58,900 at 25.35. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-21 Maturity Price : 23.25 Evaluated at bid price : 25.32 Bid-YTW : 3.64 % |
| BNS.PR.O | Deemed-Retractible | 52,600 | TD crossed 50,000 at 26.25. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-20 Maturity Price : 25.75 Evaluated at bid price : 26.20 Bid-YTW : -11.54 % |
| BAM.PR.B | Floater | 49,580 | Nesbitt crossed 40,000 at 17.22. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-08-21 Maturity Price : 17.25 Evaluated at bid price : 17.25 Bid-YTW : 3.07 % |
| MFC.PR.H | FixedReset | 34,125 | TD crossed 25,000 at 26.15. YTW SCENARIO Maturity Type : Call Maturity Date : 2017-03-19 Maturity Price : 25.00 Evaluated at bid price : 26.11 Bid-YTW : 2.67 % |
| There were 16 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| TD.PR.S | FixedReset | Quote: 25.31 – 25.89 Spot Rate : 0.5800 Average : 0.3601 YTW SCENARIO |
| RY.PR.F | Deemed-Retractible | Quote: 25.56 – 25.76 Spot Rate : 0.2000 Average : 0.1366 YTW SCENARIO |
| CU.PR.D | Perpetual-Discount | Quote: 24.36 – 24.64 Spot Rate : 0.2800 Average : 0.2184 YTW SCENARIO |
| ENB.PR.P | FixedReset | Quote: 24.25 – 24.44 Spot Rate : 0.1900 Average : 0.1310 YTW SCENARIO |
| ENB.PR.F | FixedReset | Quote: 24.76 – 24.97 Spot Rate : 0.2100 Average : 0.1528 YTW SCENARIO |
| HSB.PR.D | Deemed-Retractible | Quote: 25.20 – 25.45 Spot Rate : 0.2500 Average : 0.1945 YTW SCENARIO |