Treasuries had a good day, possibly due to a projected drop in supply, but more likely a flight to quality amid sub-prime worries, or, even more likely, they just felt like going up.
Hey, if you want somebody with a bright smile to explain to you why everything that happened, happened because it had to happen, go read some other blog.
KKR cancelled a $1.4-billion European issue and Rosneft is rumoured to be doing the same. This is significant … and if this should happen to be a real, no-fooling turning point, then financing the Teachers / BCE deal could be interesting!
| 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 | 5.26% | 5.29% | 26,628 | 15.02 | 2 | +0.0000% | 1,019.3 |
| Fixed-Floater | 5.03% | 5.32% | 140,234 | 13.67 | 8 | +0.1306% | 1,005.5 |
| Floater | 4.86% | 1.29% | 80,079 | 4.18 | 4 | +0.0107% | 1,048.7 |
| Op. Retract | 4.83% | 4.05% | 83,799 | 2.87 | 16 | -0.0011% | 1,021.0 |
| Split-Share | 5.06% | 4.64% | 117,301 | 3.92 | 17 | -0.0658% | 1,046.3 |
| Interest Bearing | 6.21% | 6.36% | 66,105 | 4.42 | 3 | +0.0687% | 1,036.8 |
| Perpetual-Premium | 5.54% | 5.17% | 118,256 | 5.30 | 26 | -0.0334% | 1,021.4 |
| Perpetual-Discount | 5.11% | 5.15% | 356,749 | 14.85 | 38 | +0.0746% | 964.9 |
| Major Price Changes | |||
| Issue | Index | Change | Notes |
| NA.PR.L | PerpetualDiscount | -1.3733% | Now with a pre-tax bid-YTW of 5.11% based on a bid of 23.70 and a limitMaturity. |
| LBS.PR.A | SplitShare | -1.1429% | Now with a pre-tax bid-YTW of 4.58% based on a bid of 10.38 and a hardMaturity 2013-11-29 at 10.00. |
| PWF.PR.K | PerpetualDiscount | +1.2090% | Now with a pre-tax bid-YTW of 5.29% based on a bid of 23.44 and a limitMaturity. |
| LFE.PR.E | SplitShare | +1.6409% | Now with a pre-tax bid-YTW of 4.20% based on a bid of 10.53 and a hardMaturity 2012-12-01 at 10.00 |
| GWO.PR.E | OpRet | +1.9391% | Now with a pre-tax bid-YTW of 3.92% based on a bid of 25.76 and a call 2011-4-30 at 25.00 |
| Volume Highlights | |||
| Issue | Index | Volume | Notes |
| BCE.PR.G | FixFloat | 52,700 | Scotia crossed 50,000 at 24.00. |
| CM.PR.J | PerpetualDiscount | 31,020 | Now with a pre-tax bid-YTW of 5.10% based on a bid of 22.11 and a limitMaturity. |
| HSB.PR.C | PerpetualPremium | 27,550 | TD crossed 25,000 at 25.49. Now with a pre-tax bid-YTW of 5.04% based on a bid of 25.20 and a call 2014-7-30 at 25.00. |
| CM.PR.G | PerpetualPremium | 20,840 | Now with a pre-tax bid-YTW of 5.30% based on a bid of 25.15 and a call 2014-5-31 at 25.00. |
| TD.PR.O | PerpetualDiscount | 16,200 | Now with a pre-tax bid-YTW of 4.98% based on a bid of 24.35 and a limitMaturity. |
There were seven other $25-equivalent index-included issues trading over 10,000 shares today.