Nothing happened today.
It was a mixed day for the Canadian preferred share market, with PerptualDiscounts down 15bp, FixedResets up 10bp and DeemedRetractibles gaining 2bp. Volatility was minimal. Volume was 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 | 0.4171 % | 2,651.8 |
| FixedFloater | 4.17 % | 3.42 % | 24,543 | 18.51 | 1 | 0.2198 % | 4,163.9 |
| Floater | 2.91 % | 3.04 % | 55,250 | 19.64 | 4 | 0.4171 % | 2,742.1 |
| OpRet | 4.05 % | 1.03 % | 89,746 | 0.08 | 1 | -0.0395 % | 2,727.1 |
| SplitShare | 4.30 % | 3.76 % | 109,801 | 3.91 | 5 | 0.0930 % | 3,150.1 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0395 % | 2,493.7 |
| Perpetual-Premium | 5.47 % | 1.80 % | 70,538 | 0.09 | 20 | 0.0138 % | 2,437.7 |
| Perpetual-Discount | 5.27 % | 5.19 % | 100,980 | 15.15 | 16 | -0.1483 % | 2,591.3 |
| FixedReset | 4.26 % | 3.80 % | 186,561 | 6.57 | 74 | 0.1011 % | 2,557.0 |
| Deemed-Retractible | 5.01 % | 1.76 % | 109,953 | 0.28 | 42 | 0.0200 % | 2,562.5 |
| FloatingReset | 2.61 % | 0.00 % | 70,068 | 0.08 | 6 | 0.3534 % | 2,539.0 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PF.E | FixedReset | 1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-09-18 Maturity Price : 23.06 Evaluated at bid price : 24.81 Bid-YTW : 4.22 % |
| MFC.PR.M | FixedReset | 1.59 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2019-12-19 Maturity Price : 25.00 Evaluated at bid price : 25.53 Bid-YTW : 3.55 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| NA.PR.S | FixedReset | 378,400 | Scotia crossed 368,200 at 25.60. Nice ticket! YTW SCENARIO Maturity Type : Call Maturity Date : 2019-05-15 Maturity Price : 25.00 Evaluated at bid price : 25.61 Bid-YTW : 3.63 % |
| NA.PR.Q | FixedReset | 104,238 | Scotia crossed 100,000 at 25.77. YTW SCENARIO Maturity Type : Call Maturity Date : 2017-11-15 Maturity Price : 25.00 Evaluated at bid price : 25.85 Bid-YTW : 2.80 % |
| TRP.PR.E | FixedReset | 97,670 | RBC crossed 50,000 at 25.39; Scotia crossed 40,000 at the same price. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-09-18 Maturity Price : 23.28 Evaluated at bid price : 25.39 Bid-YTW : 3.93 % |
| BMO.PR.W | FixedReset | 91,875 | RBC crosse 50,000 at 25.08. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-09-18 Maturity Price : 23.18 Evaluated at bid price : 25.08 Bid-YTW : 3.78 % |
| FTS.PR.G | FixedReset | 73,870 | Nesbitt crossed 62,300at 24.80. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2044-09-18 Maturity Price : 23.15 Evaluated at bid price : 24.70 Bid-YTW : 3.79 % |
| GWO.PR.N | FixedReset | 55,160 | Nesbitt crossed 50,000 at 21.84. YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 21.80 Bid-YTW : 4.67 % |
| There were 21 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BAM.PF.A | FixedReset | Quote: 25.32 – 25.74 Spot Rate : 0.4200 Average : 0.2394 YTW SCENARIO |
| PVS.PR.C | SplitShare | Quote: 25.92 – 26.90 Spot Rate : 0.9800 Average : 0.8722 YTW SCENARIO |
| MFC.PR.K | FixedReset | Quote: 24.70 – 25.05 Spot Rate : 0.3500 Average : 0.2436 YTW SCENARIO |
| BAM.PR.R | FixedReset | Quote: 25.33 – 25.59 Spot Rate : 0.2600 Average : 0.1712 YTW SCENARIO |
| MFC.PR.F | FixedReset | Quote: 22.70 – 23.00 Spot Rate : 0.3000 Average : 0.2244 YTW SCENARIO |
| TRP.PR.A | FixedReset | Quote: 22.41 – 22.60 Spot Rate : 0.1900 Average : 0.1304 YTW SCENARIO |