First day of spring and in celebration I went out with an industry buddy for a very good dinner.
I then returned to the grindstone to find that I had some kind of strange internet connectivity problem … I’ve worked around it (different ISP, different geographical location) and HIMIPref™ has been updated with today’s closing quotes & volumes and a few dividend records … but I’ve run out of time!
I will review the day on the 22nd.
| 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% | 3.94% | 74,695 | 3.84 | 1 | 0.0000% | 1,051.1 |
| Fixed-Floater | 4.96% | 3.64% | 99,900 | 4.64 | 5 | -0.1729% | 1,042.6 |
| Floater | 4.72% | -18.92% | 76,868 | 0.32 | 3 | +0.0262% | 1,054.2 |
| Op. Retract | 4.70% | 2.75% | 76,919 | 2.11 | 17 | +0.0333% | 1,035.0 |
| Split-Share | 5.00% | 3.50% | 177,651 | 3.36 | 14 | -0.1166% | 1,051.9 |
| Interest Bearing | 6.51% | 4.99% | 65,453 | 2.31 | 5 | -0.0706% | 1,040.7 |
| Perpetual-Premium | 5.01% | 3.74% | 233,255 | 5.22 | 53 | +0.0078% | 1,059.0 |
| Perpetual-Discount | 4.52% | 4.53% | 879,379 | 14.48 | 10 | -0.1637% | 1,067.3 |
| Major Price Changes | |||
| Issue | Index | Change | Notes |
| BNA.PR.A | SplitShare | -1.9011% | On relatively heavy volume of 12,238 shares (volume-average is 1,538) to close at 25.80-25, pre-tax bid-YTW of 4.55% based on a call 2007-10-31 at $25.50 |
| FFN.PR.A | SplitShare | +1.0368% | Now with a pre-tax bid-YTW of 2.55% based on a bid of $10.72 and a hardMaturity 2009-12-1 at $10.00. It would seem the market is expecting the upcoming meeting to extend term. |
| Volume Highlights | |||
| Issue | Index | Volume | Notes |
| FAL.PR.H | Scraps (Would be perpetualPremium, but there are yield concerns) | 402,000 | Now with a pre-tax bid-YTW of 3.02% based on a bid of $25.90 and a call 2008-4-30 at $25.00 |
| RY.PR.A | PerpetualDiscount | 206,500 | With a pre-tax bid-YTW of 4.48% based on a bid of $25.00 and a limitMaturity. |
| RY.PR.F | PerpetualDiscount | 120,775 | Pre-tax bid-YTW of 4.51% based on a bid of $24.75 and a limitMaturity. |
| NTL.PR.F | Scraps (Would be ratchet rate, but there are extreme credit concerns) | 107,295 | |
| BAM.PR.M | PerpetualPremium | 105,300 | With a pre-tax bid-YTW of 4.72% based on a bid of $25.08 and a call 2016-3-1 at $25.00 |
| PWF.PR.K | PerpetualPremium | 104,920 | Pre-tax bid-YTW of 4.31% based on a bid of $26.25 and a call 2014-11-30 at $25.00. |
There were twenty-six other “$25 p.v. equivalent” index-included issues with over 10,000 shares traded today.