The Boston Fed has prepared a foreclosure & house-price graphic for Massachussets:
This interactive graphic, showing changing patterns in foreclosure
rates and subprime mortgage originations across Massachusetts cities and towns since 1990 and their association with house-price changes, has been updated with 2008 data and enhanced with a new set of maps displaying the changing pattern of house-price changes from 1990 to 2008.
The slow pullback in the preferred share market continued, with PerpetualDiscounts losing 17bp and FixedResets down 7bp on the day. PerpetualDiscounts closed yielding 5.73%, equivalent to 8.02% interest at the standard equivalency factor of 1.4x. Long corporates now yield about 5.9%, so the pre-tax interest-equivalent spread is now roughly 210bp, up 10bp from August 31.
| 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 | -0.4003 % | 1,440.8 |
| FixedFloater | 5.88 % | 4.14 % | 60,667 | 18.41 | 1 | -2.6316 % | 2,612.5 |
| Floater | 2.53 % | 2.15 % | 32,514 | 22.07 | 4 | -0.4003 % | 1,800.0 |
| OpRet | 4.86 % | -11.31 % | 128,074 | 0.09 | 15 | -0.1249 % | 2,279.0 |
| SplitShare | 6.44 % | 6.60 % | 1,204,317 | 4.08 | 2 | -0.4204 % | 2,052.5 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1249 % | 2,084.0 |
| Perpetual-Premium | 5.76 % | 5.43 % | 153,077 | 2.59 | 12 | -0.5180 % | 1,880.2 |
| Perpetual-Discount | 5.69 % | 5.73 % | 192,819 | 14.33 | 59 | -0.1668 % | 1,806.1 |
| FixedReset | 5.50 % | 4.06 % | 476,566 | 4.10 | 40 | -0.0748 % | 2,103.6 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.G | FixedFloater | -2.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 25.00 Evaluated at bid price : 18.50 Bid-YTW : 4.14 % |
| GWO.PR.G | Perpetual-Discount | -2.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 22.27 Evaluated at bid price : 22.42 Bid-YTW : 5.80 % |
| ENB.PR.A | Perpetual-Premium | -2.11 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2009-10-02 Maturity Price : 25.00 Evaluated at bid price : 25.06 Bid-YTW : 2.77 % |
| SLF.PR.D | Perpetual-Discount | -1.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 19.32 Evaluated at bid price : 19.32 Bid-YTW : 5.77 % |
| BAM.PR.I | OpRet | -1.46 % | YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2013-12-30 Maturity Price : 25.00 Evaluated at bid price : 25.64 Bid-YTW : 5.12 % |
| BMO.PR.J | Perpetual-Discount | -1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 20.65 Evaluated at bid price : 20.65 Bid-YTW : 5.49 % |
| RY.PR.W | Perpetual-Discount | -1.36 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 22.34 Evaluated at bid price : 22.50 Bid-YTW : 5.48 % |
| RY.PR.H | Perpetual-Premium | -1.12 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2017-06-23 Maturity Price : 25.00 Evaluated at bid price : 25.55 Bid-YTW : 5.36 % |
| BAM.PR.K | Floater | -1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 12.40 Evaluated at bid price : 12.40 Bid-YTW : 3.21 % |
| TD.PR.Q | Perpetual-Premium | -1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 24.81 Evaluated at bid price : 25.04 Bid-YTW : 5.65 % |
| W.PR.J | Perpetual-Discount | 1.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 23.86 Evaluated at bid price : 24.11 Bid-YTW : 5.89 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| BNS.PR.P | FixedReset | 105,025 | RBC crossed 100,000 at 26.04. YTW SCENARIO Maturity Type : Call Maturity Date : 2013-05-25 Maturity Price : 25.00 Evaluated at bid price : 26.09 Bid-YTW : 3.87 % |
| BNS.PR.O | Perpetual-Premium | 65,030 | RBC crossed 62,000 at 25.20. YTW SCENARIO Maturity Type : Call Maturity Date : 2017-05-26 Maturity Price : 25.00 Evaluated at bid price : 25.15 Bid-YTW : 5.63 % |
| MFC.PR.E | FixedReset | 63,160 | RBC crossed 50,000 at 26.50. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-10-19 Maturity Price : 25.00 Evaluated at bid price : 26.50 Bid-YTW : 4.27 % |
| BAM.PR.N | Perpetual-Discount | 58,050 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 18.28 Evaluated at bid price : 18.28 Bid-YTW : 6.64 % |
| RY.PR.Y | FixedReset | 38,670 | YTW SCENARIO Maturity Type : Call Maturity Date : 2014-12-24 Maturity Price : 25.00 Evaluated at bid price : 27.55 Bid-YTW : 4.03 % |
| BAM.PR.B | Floater | 32,265 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-09-02 Maturity Price : 12.40 Evaluated at bid price : 12.40 Bid-YTW : 3.21 % |
| There were 34 other index-included issues trading in excess of 10,000 shares. | |||