| 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 |
4.09% |
3.92% |
77,563 |
3.85 |
1 |
-0.3557% |
1,051.1 |
| Fixed-Floater |
4.96% |
3.47% |
98,961 |
4.64 |
5 |
+0.0395% |
1,044.4 |
| Floater |
4.72% |
-18.72% |
78,534 |
0.32 |
3 |
+0.0394% |
1,053.9 |
| Op. Retract |
4.71% |
2.66% |
75,429 |
2.12 |
17 |
-0.0210% |
1,034.6 |
| Split-Share |
4.99% |
2.04% |
180,075 |
3.33 |
14 |
+0.1509% |
1,053.1 |
| Interest Bearing |
6.50% |
4.70% |
66,284 |
2.32 |
5 |
-0.0077% |
1,041.5 |
| Perpetual-Premium |
5.00% |
3.82% |
234,024 |
5.15 |
53 |
+0.0229% |
1,058.9 |
| Perpetual-Discount |
4.52% |
4.52% |
891,025 |
11.62 |
10 |
+0.0164% |
1,069.1 |
| Major Price Changes |
| Issue |
Index |
Change |
Notes |
| GWO.PR.E |
OpRet |
-1.0409% |
Still on credit watch by DBRS as the market awaits information regarding their financing of the Putnam purchase. This issue has an issuer bid outstanding, although no shares were purchased under last year’s plan. Now with a pre-tax bid-YTW of 2.41% based on a bid of 26.62 and a call 2009-4-30 at $25.50 … if the company waits until the first possible par-value call, 2011-4-30, it will have yielded 3.00%; and if the issue lasts until its softMaturity 2014-3-30, it will have yielded 3.64%. Take your pick! |
| Volume Highlights |
| Issue |
Index |
Volume |
Notes |
| CM.PR.D |
PerpetualPremium |
507,468 |
The last two trades of note were a Desjardins cross of 50,000 at 27.07 and a TD cross of 50,000 at 27.08. Now with a pre-tax bid-YTW of 2.90% based on a bid of $27.01 and a call 2008-5-30 at $26.00. Sounds pricy to me! |
| BNS.PR.K |
PerpetualPremium |
263,800 |
The closing trade was RBC’s cross of 100,000 at $26.18. Now with a pre-tax bid-YTW of 4.12% based on a bid of $26.25 and a call 2014-5-28 at $25.00. Note that Scotiabank has announced a new issue. |
| CM.PR.H |
PerpetualPremium |
203,250 |
RBC crossed 100,000 at $26.18, then National Bank crossed 90,000 at $26.15. Now with a pre-tax bid-YTW of 4.18% based on a bid of $26.15 and a call 2014-4-29 at $25.00. |
| PWF.PR.J |
OpRet |
156,649 |
Desjardins crossed 150,000 at $27.00. Now with a pre-tax bid-YTW of 2.10% based on a bid of 26.90 and a call 2008-5-30 at $26.00. I discussed earlier the chances of it getting redeemed before its time. And I haven’t changed my mind since then! |
| SLF.PR.E |
PerpetualDiscount |
115,418 |
Now with a pre-tax bid-YTW of 4.52% based on a bid of $24.91 and a limitMaturity. |
| BAM.PR.B |
FloatingRate |
102,050 |
Nesbitt crossed 100,000 at 24.90. |
There were thirteen other “$25 p.v. equivalent” index-included issues with over 10,000 shares traded today.
This entry was posted on Tuesday, March 20th, 2007 at 10:03 pm and is filed under Market Action. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.