Bonds closed the week on a happy note, while Dura Automotive Systems reminded investors why junk got such a pejoritive name. New junk issues slowed this week as a few issues were pulled amid widening spreads.
| 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 |
5.28% |
5.30% |
27,711 |
15.00 |
2 |
+0.4202% |
1,019.3 |
| Fixed-Floater |
5.03% |
5.33% |
138,861 |
13.66 |
8 |
+0.4455% |
1,004.2 |
| Floater |
4.86% |
0.26% |
79,603 |
4.17 |
4 |
-0.0199% |
1,048.5 |
| Op. Retract |
4.83% |
4.07% |
84,959 |
2.80 |
16 |
-0.1345% |
1,021.0 |
| Split-Share |
5.05% |
4.57% |
119,174 |
3.99 |
17 |
-0.0042% |
1,047.0 |
| Interest Bearing |
6.22% |
6.34% |
66,250 |
4.42 |
3 |
-0.2031% |
1,036.1 |
| Perpetual-Premium |
5.54% |
5.16% |
118,589 |
5.28 |
26 |
-0.0193% |
1,021.8 |
| Perpetual-Discount |
5.12% |
5.15% |
361,990 |
14.86 |
38 |
+0.0583% |
964.2 |
| Major Price Changes |
| Issue |
Index |
Change |
Notes |
| GWO.PR.E |
OpRet |
-1.8641% |
Now with a pre-tax bid-YTW of 4.47% based on a bid of 25.27 and a call 2011-4-30 at 25.00. There is still some some uncertainty about GWO’s capital market plans, despite the recent successful bond issue. |
| CFS.PR.A |
SplitShare |
-1.400% |
Now with a pre-tax bid-YTW of 4.61% based on a bid of 9.86 and a hardMaturity 2012-1-31 at 10.00. |
| FFN.PR.A |
SplitShare |
+1.3553% |
Now with a pre-tax bid-YTW of 4.55% based on a bid of 10.47 and a hardMaturity 2014-12-1 at 10.00. |
| Volume Highlights |
| Issue |
Index |
Volume |
Notes |
| BMO.PR.J |
PerpetualDiscount |
18,165 |
Now with a pre-tax bid-YTW of 5.09% based on a bid of 22.40 and a limitMaturity. |
| TOC.PR.B |
Floater |
17,300 |
National Bank crossed 17,300 at 25.20 in the day’s only trade. Still on credit review negative by DBRS. |
| POW.PR.B |
PerpetualDiscount |
16,700 |
Now with a pre-tax bid-YTW of 5.46% based on a bid of 24.56 and a limitMaturity. |
| SLF.PR.C |
PerpetualDiscount |
14,795 |
Now with a pre-tax bid-YTW of 5.06% based on a bid of 22.15 and a limitMaturity. |
| SLF.PR.D |
PerpetualDiscount |
13,458 |
Now with a pre-tax bid-YTW of 5.06% based on a bid of 22.15 and a limitMaturity. |
There were ten other $25-equivalent index-included issues trading over 10,000 shares today.
This entry was posted on Friday, July 13th, 2007 at 11:49 pm and is filed under Market Action. You can follow any responses to this entry through the RSS 2.0 feed.
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